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← Future Skills Training

2024-08-31-accounts

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 2024

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 2024

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 2024

Trustees George Berry (Chair) Sam Akinluyi (resigned 21 June 2024) Sophia Barker Elizabeth Broderick Michael Cary Director/Chief Executive Phil Thain Charity reg. no. 1119501 Company reg. no. 05745511 Registered office 38b Uverdale Road London SW10 0SR 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 2024

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 2024. 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 2024

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 due to an another 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 our first full year at Caius House, and allowed us to engage a greater number of young people due to the increase in space and facilities. Our main focus for the year was the growth in our alternative provision (AP) offer for schools and local authorities, alongside continuing the delivery of the Learn2Live project for Francis Barber PRU. We also partnered with Caius House to support the delivery of their weekly after school Football and Food project.

Again this year we were unable to deliver a summer residential due to capacity issues but we aim to change that in the summer of 2025.

3

FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

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

Our Learn2Live sessions with our PRU young people saw the largest number of young people referred to us since we began this project back in 2007. This year, 53 young people were referred, 41 of those actually attended. Our average attendance was again 5 young people per session, same as last year. Our biggest session was 10 young people attending, but having a session of that many actually makes it less effective as the pupils struggle to fully focus and engage when the number attending is that high.

Being based at Caius House gave us a number of advantages when planning Learn2Live sessions:

As the year progressed we did notice two key challenges with being at Caius:

We did find some solutions to these issues, but not all of them.

Overall, there were lots of positives about the Learn2Live sessions this year; many of the off-site sessions were a success; the PSHE sessions brought good discussions; as always some of the relationships we built with the young people became solid and we believe is part of the reason why many of the PRU young people appeared to behave more positively with us compared to their behaviour at Francis Barber.

Key challenges this year was the poor attendance and punctuality of some of the pupils, and these were often the more vulnerable who would have found greater benefit from our sessions. The Friday group in particular were a challenge due to the lack of consistency of attendance, making it harder for us to impact them with content of the sessions as well as the relationships they could have built with the team.

Lean on me has now become our Alternative Provision offer for schools and local authorities, and is therefore becoming more structured in its plans as we look to establish a curriculum that develops the essential skills that our beneficiaries need, while offering some key aspects of the mainstream curriculum.

4

FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

As with Learn2Live, our Alternative Provision (Lean on Me) had its biggest year to date with 40 young people referred, 36 of whom attended. This means across the two projects we had 93 young people referred, 77 of whom attended. A huge year for Future Skills!

As always the referrals were wide ranging in need, age, and requirements. Due to some of the children being with us for several months it felt like we always had a core group throughout the year, with other young people coming and going as per their referrals. This actually helped with settling in new pupils as they were joining a group who were already used to how we work, the structure and our expectations.

The sessions had key components - cooking, sport, off-site cultural trips, team games – but as well as that we also became more intentional and structured around the PSHE content as well as responding to input and ideas from the young people themselves. In addition to this we also added more regular reflection time to allow the pupils to reflect on their experiences and identify what they were learning and how they were developing as people.

A high percentage of our AP pupils also received tuition from our partners Young Giants and Harrison Allen. Again the facilities at Caius House allowed us to tutor several young people at once, and we also were able to have some of the pupils work together in these lessons, which was more cost effective as well as positive for the pupils.

I would like to thank all the tutors that worked with us this year, some of you worked with some really challenging young people, but you persevered and were part of giving them a positive learning experience, which some of them had not had for some time.

It was a privilege to support four year 11s this year, all with different reasons as to why they were not in school. They were receiving a large amount of tuition in maths, English and science, to prepare them to sit their GCSE’s. Three of them sat their exams in school, but one of them actually sat their exams with us as she refused to attend school. This is testament to the partnerships that we have developed with some of the schools in the borough.

As already mentioned, we partnered with Caius House to deliver the Wednesday night Football and Food project. On average 10 – 20 year 7 and 8 children came from local schools for a 90 minute football session delivered by Ren, who works across the borough, we then provided the hot meal after the football. It was great to be involved in this vital weekly activity for these local children.

This year we had a considerable amount of changes to the staff team. In September Anna M left us to study and work abroad. This is initially for 12 months but may get extended to 18 months. We welcomed Jubera in October and Celil in November, however we had to extend their probationary period by an additional three months, and unfortunately, they did not complete that probationary period and were let go in April. Anna D finished the maternity cover in March as Saida returned from maternity leave. We wish to thank Anna for all her hard work while she was with us, and wish her all the best. Jerome returned to us this year on a freelance basis to enable him to pursue his acting career alongside working for FST. Alliah also returned to us on a freelance basis. We welcomed Eyrusalem right at the end of the year in August and look forward to seeing how she settles into the team in the new year.

Due to the high volume of work we were fortunate to call upon the help of Divina and Tyra, who are part of the Caius House team, to support some of the sessions. Phil also enlisted the support of Simone, someone who Phil has worked with over many years to work with some of our AP pupils.

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FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

Throughout the year we have continued to work on recruitment as we seek to expand the youth work team as well as recruit for our own teacher to deliver the maths and English part of the curriculum in house.

One of the main considerations for the Trustees this year has been how Future Skills and Caius House expand and package the Alternative Provision offer. As part of this process we continued working with Mission Growth, to help us develop our Theory of Change, and produce a Case for Support. This process was hugely positive, drawing together lots of thoughts and ideas, and honing them into what exactly is the offer and how do we resource it.

Alongside the work with Mission Growth, Phil and Del (Caius CEO) worked with Aaron Barbour (Ex CEO of Katherine Low Settlement in Battersea), to produce a business proposal to present to Wandsworth Council for the Alternative Provision expansion at Caius House. Again a really valuable process working out the detail of the offer and how it would work.

This work with Aaron was connected to the on-going discussions that Youth Battersea have been having with senior members of the Local Authority about a closer working partnership. These discussions continue into the next year.

A huge challenge that we had to deal with this year was when FST failed its Quality Assurance visit in November. This is the first time that FST has ever failed a visit, but it highlighted what a big change it was moving from St Marks to Caius House, and how quickly and organically the work has grown. Although this meant that some schools did not refer pupils during for a few months while we made the necessary changes to processes and procedures, there remained enough referrals for finances to not be drastically impacted. We wish to thank Oliver Dunn from Wandsworth for his support in helping FST make the necessary changes to become compliant again and also to Del and the team at Caius House for their huge support during this time. We successfully passed our re-inspection in April, which was good news for us and for our schools.

There was one big change on the Trustee Board this year. After 10 years our current Chairman Sam Akinluyi resigned. Although tinged with sadness, we are so grateful for all the effort, support, energy and wisdom that Sam has brought to the board over all these years, and particularly Phil our CEO is hugely thankful for all the support Sam has given him over the years. We wish Sam all the very best for the next phase of his life.

This year was not a good year for charitable grants, only receiving one grant of £6,000. This is partly due to not having as much capacity this year to apply for grants due to the level of work generated by the increase in referrals from our stakeholders. We were however again underpinned by the faithful giving of a few wonderful individuals, many of whom has been giving monthly for many years.

We wish to thank again this year Investment Quorum for their regular donation as well as Euromonitor International for their generous donation through their staff scheme.

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FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

Our activities in numbers

This year was again our biggest to date as we continued to grow with more referrals from Francis Barber as well as schools in Wandsworth and Merton and referrals from Wandsworth LA. In total we had 93 young people referred, 77 who actually attended. 80% of those who attended either achieved a positive outcome or will continue with us next year.

The breakdown of outcomes for those pupils who attended during the year were:

Learn2Live

Learn2Live had a big year with 49 young people referred. 38 pupils attended, we delivered 73 sessions with an average attendance of 5 pupils per session.

A challenging year this year in terms of outcomes. 4 pupils from our group left the PRU to return to mainstream education, and one progressed to Alternative Education. We worked with 11 year 10’s who will move into year 11 at Francis Barber, so we will no longer be working with them. 12 of the pupils we will continue to support next year.

Lean on Me/Alternative Provision

Lean on Me had a huge year this year with 44 young people referred, 39 of whom attended, our biggest year to date. We only supported two primary aged children this year, the rest were all secondary aged.

Our biggest success story was the 20 pupils that we worked with to support them staying in their mainstream schools and preventing their exclusion.

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FUTURE SKILLS TRAINING

TRUSTEES' REPORT For the year ended 31 August 2024

Football and Food

This year we supported the Football and Food project at Caius House. We had between 10 and 20 young people attend every week.

Holiday Activities

This year we decided not to deliver any summer holiday activities and allowed Phil to take all of August off for a well-deserved break!

Below is the breakdown of our key performance indicators against last year’s results:

Project Outcomes v last year Commentary
Learn2Live 38 attendees (no change v LY)
28 regularly impacted (+ 7% v LY)
62% of leavers re-engaged with education or
progressed to year 11
(- 34% v LY)		 Another small increase in the number of
young people regularly impacted.
Quite a reduction in the % of leavers re-
engaging (although still a good % for the
cohort).
This
year
was
particularly
challenging with some of the pupils
referred from Francis Barber. Also seeing
the pupils only once per week hampers
ourability to effect change.
Lean on Me 39 children and young people mentored
(+ 26% v LY)
38 leavers (+ 39%v LY)
87% of those who completed mentoring
achieved a positive outcome (+ 15% v LY)
10
returned
to
mainstream
education,
2
progressed to alternative ed, 1 to further
education and 20 remained in education. 1 we are
continuing to support and 3 yp didn’t achieve a
positive outcome.		 An increase in referrals again this year.
Great to achieve the same 74% positive
outcome which is down to the dedication
and hard work of our staff along with good
partnership
working
with
other
professionals
After
school
provision		 10 – 20 young people attended Football and Food
every week.		 First year involved in this so have no
comparison.
Residentials No residential or other summer activities this
year.		 A rest for all the staff

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FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

FINANCIAL REVIEW

Financial position

The Charity achieved net income for the year of £17,089 (2023 - net income of £43,775), details of which are shown in the Statement of Financial Activities on page 14.

Total income for the year amounted to £278,588, an increase of £41,196 on the previous year, and total expenditure amounted to £261,499, an increase of £67,882 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 £65,000. At the year end, the charity had unrestricted reserves of £62,549, which is marginally 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.

This year saw the increased growth that we anticipated last year, due to the greater capacity at Caius House and our good reputation being maintained due to the effective way the staff engage and support the young people.

We look forward to further growth next year as we begin to work towards an expanded Alternative Provision offer and then potential registration as a school.

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FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

PLANS FOR FUTURE PERIODS

During 2024/25 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 4 main areas of focus in the next year and beyond:

  1. Curriculum development – following the passing of the Quality Assurance visit, we are working on further development of the whole curriculum that we deliver to ensure it is teaching and developing the young people in the most effective way.

  2. Financial growth and stability – having maintained a good level of reserves, we aim to grow Future Skills further so that we can offer improved staff salaries to ensure a high quality and more stable staff team.

  3. To further develop the Alternative Provision proposal so that we can continue to work towards school registration in the future and be able to take on full time pupils.

  4. 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 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:

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.

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FUTURE SKILLS TRAINING

TRUSTEES' REPORT

For the year ended 31 August 2024

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.

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 28 May 2025 and signed on their behalf by:

………………………………………………… Tua George Berry Chair

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FUTURE SKILLS TRAINING

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES

For the year ended 31 August 2024

I report on the accounts of the charity for the year ended 31 August 2024 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:

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:

/Continued…

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FUTURE SKILLS TRAINING

INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES

For the year ended 31 August 2024

…/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: …………………………. 29 May 2025

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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 2024

Unrestricted
Funds
Notes
2024
£
INCOME FROM
Donations and legacies
2
24,939
Charitable activities
PRU & Mentoring
253,472
3
-
Other
177
TOTAL INCOME
278,588
EXPENDITURE ON:
Charitable activities
4
PRU
59,712
Mentoring
177,252
Infuse
-
Summer projects
-
Youth Club
12,722
249,686
Raising funds
4
11,813
TOTAL EXPENDITURE
261,499
NET MOVEMENT IN FUNDS
17,089
RECONCILIATION OF FUNDS
45,460
62,549
£
Investments
TOTAL FUNDS AT 1
SEPTEMBER 2023
TOTAL FUNDS AT 31
AUGUST 2024		 Restricted
Funds
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Nil
£		 TotalUnrestricted
Funds
Funds
2024
2023
£
£
24,939
49,880
253,472
187,183
-
-
177
329
278,588
237,392
59,712
54,212
177,252
109,760
-
12,797
-
5,971
12,722
-
249,686
182,740
11,813
10,877
261,499
193,617
17,089
43,775
45,460
1,685
62,549
£
45,460
_£ _		 Restricted
Funds
2023
£
-
-
-
-		 Total
Funds
2023
£
49,880
187,183
-
329
- 237,392
-
-
-
-
-		 54,212
109,760
12,797
5,971
-
-
-		 182,740
10,877
- 193,617
- 43,775
- 1,685
Nil
£		 45,460
_£ _

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 2024

Notes 2024 2023
£ £ £ £
CURRENT ASSETS
Cash at bank and in hand 66,228 48,050
CREDITORS: amounts falling due
within one year 9 (3,679) (2,590)
NET CURRENT ASSETS 62,549 45,460
NET ASSETS **£ ** 62,549 _£ _ 45,460
FUNDS
Unrestricted funds:
General fund 10 62,549 45,460
**£ ** 62,549 _£ _ 45,460

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 28 May 2025 and signed on their behalf by:GEORGE BERRY, Chair ~~Gegle~~

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 2024

£
£
Cash flows from operating activities
17,089
Net cash provided by / (used in) operating activities
(Increase)/decrease in debtors
-
Increase/(decrease) in creditors
1,089
1,089
Cash flows from investing activities
-
Cash flows from financing activities
-
Change in cash and cash equivalents in the year
18,178
Cash and cash equivalents at the beginning of the year
48,050
Cash and cash equivalents at the year end
66,228
2024		 2023 2023
£
48
1,145		 £
43,775
1,193
-
-
44,968
3,082
48,050

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FUTURE SKILLS TRAINING

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024

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 2024

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 2024

2.
DONATIONS AND LEGACIES
Unrestricted
Funds
2024
£
Grant income
- Jack Petchey Foundation
600
- NHS Inequalities Fund
-
- Other funders
6,756
7,356
Donations, including gift aid
17,583
24,939
£
3.
INVESTMENT INCOME
Interest receivable from:
Cash at bank
4.
ANALYSIS OF EXPENDITURE
Current year
Direct
costs
Staff /
consultant
costs
£
£
Charitable activities
7,837
29,081
Mentoring
92,416
47,558
Infuse
-
-
Summer projects
-
-
Youth Club
512
6,845
100,765
83,484
Fundraising costs
-
6,622
Support & governance costs
21,492
49,136
122,257
£
139,242
£
PRU		 2.
DONATIONS AND LEGACIES
Unrestricted
Funds
2024
£
Grant income
- Jack Petchey Foundation
600
- NHS Inequalities Fund
-
- Other funders
6,756
7,356
Donations, including gift aid
17,583
24,939
£
3.
INVESTMENT INCOME
Interest receivable from:
Cash at bank
4.
ANALYSIS OF EXPENDITURE
Current year
Direct
costs
Staff /
consultant
costs
£
£
Charitable activities
7,837
29,081
Mentoring
92,416
47,558
Infuse
-
-
Summer projects
-
-
Youth Club
512
6,845
100,765
83,484
Fundraising costs
-
6,622
Support & governance costs
21,492
49,136
122,257
£
139,242
£
PRU		 2.
DONATIONS AND LEGACIES
Unrestricted
Funds
2024
£
Grant income
- Jack Petchey Foundation
600
- NHS Inequalities Fund
-
- Other funders
6,756
7,356
Donations, including gift aid
17,583
24,939
£
3.
INVESTMENT INCOME
Interest receivable from:
Cash at bank
4.
ANALYSIS OF EXPENDITURE
Current year
Direct
costs
Staff /
consultant
costs
£
£
Charitable activities
7,837
29,081
Mentoring
92,416
47,558
Infuse
-
-
Summer projects
-
-
Youth Club
512
6,845
100,765
83,484
Fundraising costs
-
6,622
Support & governance costs
21,492
49,136
122,257
£
139,242
£
PRU		 Restricted
Funds
2024
£
-
-
-		 Total
Funds
2024
£
600
-
6,756		 Total
Funds
2023
£
-
16,500
6,756
7,356
17,583		 -
-		 7,356
17,583		 23,256
26,624
24,939
**£ **		 Nil
£		 24,939
**£ **		 49,880
_£ _
Staff /
consultant
costs
£
29,081
47,558
-
-
6,845		 Support &
governance
costs
£
22,794
37,278
-
-
5,365		 2024
£
Nil
£		 2023
£
Nil
£
Total 2024
£
59,712
177,252
-
-
12,722		 Total 2023
£
54,212
109,760
12,797
5,971
-
100,765
-
21,492		 83,484
6,622
49,136		 65,437
5,191
(70,628)		 249,686
11,813
-		 182,740
10,877
-
122,257
**£ **		 139,242
**£ **		 Nil
£		 261,499
**£ **		 193,617
_£ _

19

FUTURE SKILLS TRAINING

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024

Prior year
Charitable activities
Summer projects
Fundraising costs
Support & governance costs
Infuse
PRU
Mentoring		 Direct
costs
£
7,125
71,435
120
538		 Staff /
consultant
costs
£
33,168
26,996
8,930
3,827		 Support &
governance
costs
£
13,919
11,329
3,747
1,606		 Total 2023
£
54,212
109,760
12,797
5,971
79,218
-
9,577		 72,921
7,662
24,239		 30,601
3,215
(33,816)		 182,740
10,877
-
88,795
_£ _		 104,822
_£ _		 Nil
£		 193,617
_£ _
5.
STAFF COSTS AND NUMBERS
Unrestricted
Funds
2024
£
Salary costs
Wages and salaries
109,820
Social security costs
4,331
Employer pension
2,123
116,274
Other staffing costs
Consultancy
22,968
139,242
**£ **		 5.
STAFF COSTS AND NUMBERS
Unrestricted
Funds
2024
£
Salary costs
Wages and salaries
109,820
Social security costs
4,331
Employer pension
2,123
116,274
Other staffing costs
Consultancy
22,968
139,242
**£ **		 Restricted
Funds
2024
£
-
-
-		 Total
Funds
2024
£
109,820
4,331
2,123		 Total
Funds
2023
£
94,270
2,545
1,803
116,274
22,968		 -
-		 116,274
22,968		 98,618
6,205
139,242
**£ **		 Nil
£		 139,242
**£ **		 104,823
_£ _

The average weekly number of staff on a head count basis was 4 (2023 - 4).

No staff received payments in excess of £60,000 (2023 - the same).

The total employee benefits of the key management personnel were £33,440 (2023 - £32,265).

20

FUTURE SKILLS TRAINING

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2024

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 (2023 - 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
Rent expense
Computer and Internet Expenses
Telephone
Travel
Staff DBS Check
Software
Staff training
Stationery
Staff meetings
Staff entertainment
Advertising/Promotional
Staff support costs
Nil
£
Nil
£		 2024
£
720
795
186
-
1,483
581
20
6,000
6,143
891
11
527
-
373
87
-
1,413
2,262
49,136		 2023
£
720
510
474
-
783
975
9
-
4,350
766
-
51
81
297
-
7
442
112
24,239
70,628
**£ **		 33,816
_£ _

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 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals
Taxation and social security
Pension control
Net pay control		 2024
£
720
1,634
1,120
205		 2023
£
720
723
933
214
3,679
**£ **		 2,590
_£ _

10. STATEMENT OF FUNDS

STATEMENT OF FUNDS
RESTRICTED FUNDS
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
£
45,460
-		 278,588
-		 (261,499)
-		 -
-		 62,549
-
45,460
**£ **		 278,588
£		 (261,499)
£		 Nil
£		 62,549
**£ **

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Net current assets Unrestricted Funds
Designated
General
Funds
Funds
£
£
-
62,549
Nil
£
62,549
**£ **		 Unrestricted Funds
Designated
General
Funds
Funds
£
£
-
62,549
Nil
£
62,549
**£ **		 Restricted
Funds
£
-		 Total
Funds
£
62,549
Nil
£		 62,549
**£ **		 Nil
£		 62,549
**£ **

22