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2023-01-31-accounts

ee LWlll¥ Unlocking Opportunities Annual Report and Accounts Year ended 31 January 2023

Unlocking Opportunities Handing young women the keys to unlock potential Annual Report and Accounts Year ended 31 January 2023 Teen Aetion Annual Report 3ndAccounts 2022-23

Contents Opening Statement Mission, Objects and Aims Achievements Charitable Activities Values & Quality Partners New Developments Governance Report 8-12 13 14 15 16 Financial Review Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts Legal & Administrative Details 17 18 19 19 20-24 24

Chair's Statement In a fairsocietyall shouldbeabletoaccess positiveopportunities, but for some. inequality means that certain opportunities are locked away or inaccessible. As an organisation led by and for minoritized young women, for us, high quality youth work primarily means person-centred work which addresses the individual needs of the young women we're supporting rather than providing generic youth work which may be inaccessible or wholly inappropriate to addressing unique challenges, such as religious needs, early onset adulthood, poor socio-e¢onomi¢ standings, and unique familial Circumstances. We are laserfocussed on unlocking opportunitiesforyoung women, and ensuring the longevity of our engagement through creating a lasting impact with the development of transferable skills. During the year, we were privileged to support 261 young women on their individual journeys to personal development, adulthood, employment, and independent living. The Trustees were mindful of the wider economic, social and environmental challenges, providing emergency relief where needed, but most importantly continuing to challenge the status quo - developing our holistic offer and the charity's general capacity, infrastructure, and quality. The Trustees are pleased to present'unlocking Opportunities,; our annual report for 2022-23. With much appreciation to our staff, volunteers, partners, and supporters for the key roles you've played. Mrs Yocheved Austerlitz Chairperson Teen Aetion Annual Report andAccounts 2022-23

00 The Gold QM lQuality Markl is about showing that you are a real centre of excellence in the youth sector... What is really clear is your focus on true meaningful youth involvement in your organisation. .* We were also impressed with your leadership and governance, with strong financial reporting, risk managemenL and funding. Hayley Gleeson 99 Youth Sector Development Manager London Youth Teen Aetion Annual Report andAccounts 2022-23

Mission ~~Statement~~

Charitable Objectives

Strategic Aims

RECREATION EDUCATION ARTS CAREER SUPPORT HEALTHIWELLBEING OVERVIEW 86 159 119 100 93 beneficiaries beneficiaries beneficiaries beneficiaries beneficiaries 11 6 retreats training programs art provisions career support initiatives healthlwellbeing provisions 149 1023 336 276 5072291 hours of delivery hours of delivery hours of delivery hours of delivery hours of delivery 9,. 36.. 12% 13% 27% 970/ of budget of budget of budget of budget of budget

Recreation Recreation is the ideal way to support the emotional and social well-being of young people. Through recreation, people have new experiences, engage more fully in living, and develop key life skills. We unlock opportunities for inner-city young women to access the countryside and engage in outdoor learning. Our bi-annual residentials provide a unique opportunity for youth leadership, with participants managing the programs, workshops, food and itineraries. Key Components 3 Residentials 1 day trip 86 young women engaged This was my first experience away rom ome, an my best experience yet! l enjoyed the challenge, the company, and the amazing scenery. I have learnt so much in just 66 hours. its truly amazing. Youth leadership opportunities Youth-led workshops Developing skills whilst having fun 99 Increased independence, confidence, teamwork, respite, and life skills Chaya K. Beneficiary 2022 Teen Aetion Annual Report andAccounts 2022-23

Education Key Programs A well rounded education is essential when moving on in life and accessing employment. Education informs our learning, knowledge and skill and is the foundation for progression. PC Powered IT literacy training programs designed to challenge digital exclusion, support young women into higher-grade employment, and increase societal inclusionlfunction, We delivered Beginners PC, Touch typing. Computer Graphics, Digital Illustration, and ITQ Level 2 & 3 CertificatelDiploma. This is a central focus of our work, up-skilling young women and providing them with quality training and support at a core arid advanced level. 11 unique programs,. 4 streams Gateways The Gateways program is an evening study program for young adults with low-level qualifications seeking additional training towards employment. We delivered 2 accredited Level 3 programs, in ¢omputerisèd accounting and financial management, as Chosen by young women. 159 beneficiaries 197 certificates achieved AQA Unit Award Scheme,. recognition for bite-size learning/skills Champion Club Our Champion Club provision supports learners who haven't achieved a minimum pass grade on core GCSES to access further education, through mentoring support for resits andlor the achievement of a functional skills qLbalification. Accredited. vocational, and informal learning Post-program mentoring and signposting support Get Set Go Our multi-dimensional Independent Living Program IILPI for disadvantage adolescents, providing them with the foundation knowledge and skills to make healthy & stable choices when moving to independent living, making them more resilient and independent. Through a series of informative sessions, hands on workshops, and post-program mentoring support, we empower young adults by developing their financial literacy, home management skills, civic responsibility, and societal inclusion. Recognising the global shift to digital, we will be expanding our IT literacy training to include digital literacy and E-safety for young women. This will be done in conjunction with TAG (Technology Awareness Group) and Ofcom's Making Sense of Media resources and platform. What's Next? Teen Aetioft Annual Report andAceounts 2022-23

Arts 66 Joining the photography program was life changing for me. I learnt a new skill, made new friends, developed a new passion, and was able to express myself creatively without any limitations. Beyond formal education, there are a wealth of skills, artistic media, and vocational crafts which develop creativity, fine hand skills, confidence, expression, and alternative avenues to employment. Our Artwaves program encompasses a selection of art provisions, chosen by young women, and designed to develop creativity, problem solving, team-working, and expression through a variety of mediums. Delivered by freelance artists in blocks of16 sessions, it unlocks opportunities for marginalised young women to access arts. 99 ll::I Summ•rearnp We'll be providing employment opportunities for alumnae of our arts provision at our Creative Break summer scheme. They will replace the freelance artists we've used to date, reducing costs, empowering young women, and providing relevant employment opportunities. We'll be embedding Essential Skills recognition, measurement and progression across our arts provision, with the intent to scale this to encompass all our delivery. This will be done in line with the Universal Skills Builder Framework, as members oftheir Impact Academy. What's Next? What's Next? Teen Aetioft Annual Report andAceounts 2022-23 io

Career Support Perhaps the biggest milestone a young person faces is the transition from education to employment. Some are fortunate to have a well charted path and many accessible job opportunities, whilst others struggle to secure employrnent, with Ihe prospect of unemployment looming. Key Programs Get a Job We deliver the comprehensive Goldstar Employability & Soft Skills Program, designed to support minoritised young women into the workforce, taking into account culture and gender-specific needs. We support underprivileged young women experiencing systemic inequality, to enler and/or progress in employment through career guidance, work placements, Imenloring and in-employment peer-support and learning. Work & Volunteer Placements We partner with local schools, design agencies, charities, and accountants to provide young wornen with suitable work placements andlor volunteering opportunities. 4 streams,. Career guidance, mentoring, work placemenls, in- employmenl 5UPPOrt Mentoring - Career guidance Young women are able to a¢¢es$ 1..1 sessions with our youth worker to discuss individual qualities, challenges, goals, and aspirations; setting SMART targets and creating their vèry own action plan with appropriate referrals to further traininglsupport. 100 beneficiaries 99% employment success rate Co-ordinated 86 work placements with 11 employers, and supported 24 YP to access volunteering opportunities New Employee Network {NEN) Conventionally career guidance has focused on employment entry, yet if young women are to sustain employment & progress, they need in-work support. NEN, launched in 2022, welcomes young women in their first year of eTnployment, offering monthly in-work training opportunities and moderated peer support. Spring Employment Seminar Funded by The City Bridge Foundation, as part of London's Propel collaboration, we'll be exploring the multiple barriers to higher-grade employment for minoritised young women and how systemic inequality influences this, This will shape our response and intervention going forward. With more than 80% of local businesses owned by men, we wish to empower young women to launch their own enterprises through a business start-uplcoaching program, addressing gender- inequality and providing flexibility around the commitments of raising a family. What's Next? What's Next? Teen Aetioft Annual Report andAceounts 2022-23

Health & Wellbeing Key Programs Social Talk-shop Our Social Talk-shop program is our earliest foray into mental health & wellbeing support, introduced in 2016. It is a weekly, informal personal development and peer-support group session, designed to provide a platform to explore effective communication, innate health & wellbeing, self-image, and self-introspection. Physical and mental health is of paramount importance, and the foundations upon which we can exist, grow and reach higher. We recognise the critical part health & wellbeing plays in a young person's development, opportunities, and future,. and are committed to embed this as a core part of our holistic delivery. We focus on physical health, personal developmgnt, peer-support, and counseling to achieve this. Psychotherapy Launched in 2020, in response to the Pandemic's detrimental effect on mental health, we've been offering counseling to young women who often can't access mainstream mental health services due to cultural needs and general mistrust. 6 unique programs,. 4 streams Mentoring for Mental Health (MMH) The 9-month program was piloted in Conjunction with Happy Kids, as part ofthe City & Hackney Wellbeing Network, as a means to address mild-moderate mental health concerns in children and young people through the development of social skills, which often underpins wellbeing. 17 young women signed up for a specialised social skills training program, mentoring children in need in a supervised environment, and acting as ambassadors for social skills as a core foundation for mental health. 93 beneficiaries Emergency food provision New social skills training & mentoring program piloted ig5 part of the City & Hackney Wellbeing Network, in conjunction with Happy Kids. ••• Sport We upheld the delivery of weekly female aerobics sessions, f¢xusing on strengthening the core, and addressing high levels of inactivity in our community. We also provided a 12-week netball program during the summer months, much enjoyed by participants. Improved confidence, self-image, w¢.IIL)L'ing, and general heallh, Following the success of our Mentoring for Mental Heatth pilot, we will be looking to consolidate the program - refining the training program, bringing on board additional delivery partners, providing progression opportunities for traineeslmentors, and sourcing sustainable funding. What's Next? Emergency food provision In response to growir)g levels of community food poverty, young women, participants on our confectionery and food & nutrition programmes, stepped up as change-makers,. cooking & hosting community dinners for children in need. Teen Aetioft Annual Report andAccounts 2022-23 12

Inclusion Our Commitment to Quality Youth Work We believe that ethnicity, background, ability 8nd socio-economic factors should not dictate a young person's future. Our young people will enjoy similar opportunities as their peers in a culturally appropriate and inclusive manner. We are committed to the delivery of qualityyouth work and maintaining the engagement and involvement ofyoung stakeholders, Youth Leadership & Involvemenl We have an elected Youth Advisory Group IYAGI who work alongside Trustees to chart the direction of the charity. They are chosen annually by their peers at a vote held in July and meet formally six times a year. Young people are also actively engaged in the planning, delivery and evaluation of programmes and have opportunities for youth leadership/volunteering. Involvement Young people are at the very heart of Teen Action. We encourage participation right from the top, through our Youth Advisory Group, down to the every-day delivery of provisions with young people involved in design, delivery and evaluation of programs, Independence Safeguardlng We have robust Safeguarding and Child Protection procedures, led by our Designated Safeguarding Officer and regulated by our Responsible Officer, with the safety of our beneficiaries of prime importance. We have a framework of consents, controls, policies and reviews to mitigate risks. These are supported by our Health & Safety, Safer Recruitment, Whistle- blowing and Anti-bullying policies. London Youth Our programs are designed to accomplish more than just short term change. Our holistic support is ultimately designed to ensure our young women become self-sufficient, contributing members of society 8t this transitional period to adulthood, employment and independent living. QIIALITY MAPK 2022.25 Innovation A¢colades and Awards We're holders of the London Youth Gold Quality Mark, a programme accredited by City & Guilds and a mark of excellence for quality youth provisions. We're also recipients of the London Faith & Belief Community Awards 2020 under the'supporting women, category, and the 2023 Acquisition nii-l'i'nfii International Non-Profit awards, Best Holistic Youth Cli.:.:,,,,:. Sector Support Charity 2023 - London" We realise that what worked a few years ago may no longer be effective. We are committed to change with the times and ensure our provision is responsive. We do this by actively listening to beneficiaries and embedding awareness of the constantly changing social, economical, political and health environment, Teen Aetion Annual Report andAccounts 2022-23 13

Our Partners & Networks

Referral partners

Networks

Delivery Partners

Funders

New Developments Increased partnership working In order to enhance our offer, we are actively developing partnerships with other local services so that we can collaborate, share resources, address cross-community needs, and increase impact. During the year in review, we maintained existing partnerships and developed some new key networks. We worked in partnership with Happy Kids and the City and Hackney Wellbeing Network to deliver our Mentoring for Mental Health Program (Page 12). We also joined a consortia of local organisations addressing poverty, allowing us to provide a more comprehensive offer, and post-program progression for young women accessing our career support, including strategic volunteer placements at Sunbeams, and further money advice from Mesila UK and AICS. Maintained and Increased delivery We were able to maintain and increase delivery reaching 261 individuals12022.. 2351, despite the financial and global challenges. Most notably we launched our in-employment support (New Employee Network, Page 91, and piloted our Social Skills training and mentoring provision (Mentoring for Mental Health, Page 121 responding to the mental health and employment crisis, Responded to the Cost of Living Crisis Recognising the increased financial constraints on local households, especially those already experiencing poverty, we consulted with young people to see how we can support them during this time, and adapted provisions accordingly, primarily.. lal Engaging young women on our Confectionery and Food & Nutrition programs to prepare and host community dinners for young people in our networks, relieving food poverty and giving our beneficiaries 8 chance to be change-makers and actively contribute to alleviating the challenges of others. Ibl Refocusing our Get Set Go, independent living and financial capability program, to support young women with effectively managing hoLJsehold expenses and budgeting during a time of economic crisis, as well as signposting to available support across our network of partner organisations, mosl notably Mesila UK,. Icl Continuously ensuring that our provisions are at no cost to users, allowing those at the margins of society to engage in positive opportunities and high-quality youth work such as training, arts engagement, outdoor learning, and mentoring support. Renewed London Youth Gold Quallty Mark We renewed our London Youth Gold Quality Mark, a programme accredited by City and Guilds. This allowed us to review the quality of provisions, the charity governance & infrastructure, our impact, and youth leadership opportunities. We are proud to maintain the highest levels of quality youth work, Secured renlal premlsos After close to 2 decades of operating out-of-hours in hired spaces, ￿￿'ve finally secured a lease on suttable premises, based in the heart of our community, and a space that young women can tske ownership of. and where we can continue to grow our provision with the flexibility it allows The Trustees are excited with the opportunities this presents and the sustainabilty provided. Trustees have set aside a £50,000 designated fund for capital works, which commenced in February 2023, and will be further expanded on next year. Teen Aetion Annual Report andAccounts 2022-23 15

fraud. Both manual and automated checks are regularly invoked, particularly those relating to the operations & finance of the charity, The Trustees are satisfied that these systems and procedures mitigate the potential effects of any perceived risks. Structure. Governance & Management The Trustees who served during the year and up to the date of signature of the financial statement5 were,, Mrs. Yocheved Austerlitz (Chairl, Mr, Abraham Fried (Treasurer), Mrs. Faigy Taub, Mrs. Sarah Bard, Mrs. Goldy Rosenberg. Public Benefit The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission as well as the Equalities Act 2010 when reviewing the Charity's aims and objectives and in planning future activities. Structure, Governance and Management The charity is governed by a trust deed dated 1 July 2006. The charity is managed by the Trustees, who meet 5 times a year, supported by our annually elected Youth Advisory Group {YAG). Day-to-day operations are overseen by the CEO, who line manages staff and volunteers. During the year, the charity employed 6 staff, 20 sessionallfreelance workers and 9 volunteers to deliver our charitable work. 06 The committee was really impressed with the many ways in which Teen Action has grown and developed over the last few years.. It's brilliant too that you're moving into areas where you're able to see a wider ripple effect from your work, as well as the direct impact you've long had in the lives of young women. Jennifer Oatley Recruitment. Induction and Training It is not the intention of the Trustees of the charity to appoint any new trustees in the near future. Should the situation change, the Trustees will apply suitable recruitment and induction procedures. Existing Trustees were provided with relevant training. Risk management The Trustees have identified and reviewed the major risks to which the charity is exposed,. in particular sustainability, safeguarding and Teen Aetioft Annual Report andAccounts 2022-23 99 Grant Manager, Tudor Trust 16

Financial Review Reserves Policy The Trustees aim to hold the equivalent of a minimum of 3, and a maximum of 6 months, running costs in free reserves at all times,. barring extenuating circumstances. Atthe close ofthe financial year, Teen Action held £66,127 in free reserves, equivalent to just below 3 months running costs.There was also £50,000 in a designated fund, setaside for refurbishmentworksatour new premises.TheTrustees are satisfied with the level of reserves held, even though it did not reach the required minimum of 3 months, as funds were drawn for our designated capital works fund, an extenuating circumstance for which this was justified. The Trustees present their report and financial statements for the year ended 31 January 2023. The financial statements have been prepared in accordance wtth the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities., Statement of Recommended Practice applicableto charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 2019), Financial Review The Trustees are happy to report that the charity had SLrflicient income of £337,28812022', £285,823} to cover its charitable expenditure fully. Se¢uring funding in the current diflicutt financial climate has continued being challenging and the Trustees gratefully acknowledge that the outstanding impact and achievement of the organisation are largely due to the generous support ofour community and generousfunders (see page 141. The Trustees. report was approved by the Board of Trustees on Mrs. Yo¢heved Austerlitz, Trustee - Chairperson Dated:., ?I"NOv 2023" Expenditure by"Cosi cent￿. and Class Cost-centred Budget The Trustees recognise the importance of transparency to our donors, supporters, stakeholders and the public, and have therefore moved to a cost-centred budget, which provides a clearer picture of how we have spent funds in accordance with our charitable objectives and Strategic aim5. It is important to note that due to the holistic nature of our work, many provisions cross-cut our strategic aims, and therefore the incomelexpenses of one particular program may be split across 2 or more of our'cost centres" as appropriate, Support and governance costs are allocated between all the charitable activities as per the total direct expenses of each cost-centre. This provides a better understanding of the full costs associated with the delivery of each of our strategic aims and allows for better financial planning and full cost-recovery budgeting. •FufvJrayD8 •E4knation •Aif5 llC4reerSupptyi llHe3llh &WellWn8 •proRct Exr*nses • SykwtC05ts Teen Aetion Annual Report andAccounts 2022-23 17

Independent Examiner's Report Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or the financial statements do not accord with those records,. I report to theTrustees on myexamination ofthefinancial statements ofTeen Action (the Charity) for the year ended 31 January 2023. Responsibilities and basis ol report As the Trustees ofthe Charity you are responsible forthe preparation of the financial statements in accordance with the requirements of the Charities Act 2011 {the 2011 Act), or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ib) of the 2011 Act, 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 financial statements to be reached. Independenl examiner's statement Since the Charity's gross income exceeded £250,000 yourexaminer must be a member of a body listed in section 145 of the 2011 Act. I confirm that l arn qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. Berish Hoffman FCA Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 OFX Dated.. 21 Nov 2023 l understand thatthis has been done in orderforfinancial ststements to provideatrueandfairviewinaccordancewithGenerallyAccepted Teen Aetion Annual Report andAccounts 2022-23 18

Statement Of Financial Activities

Unr
Notes
Income and endowments from:		 estricted
R
funds
2023
£

37,730
100
2,000
6,000
3,501
3,500
2,374
55,205
852
167
1,737
3,956
5,450
7,524
18,834
19,686
35,519
84,902
120,421		 estricted
funds
2023
£
40,545
17,262
34,689
114,319
58,005
17,263
-
282,083
8,210
33,993
34,294
93,268
67,522
16,681
245,758
253,968
28,115
72,490
100,605		 Total
Unr
2023
£
78,275
17,362
36,689
120,319
61,506
20,763
2,374
337,288
9,062
34,160
36,031
97,224
72,972
24,205
264,592
273,654
63,634
157,392
221,026		 estricted
R
funds
2022
£
55,336
-
3,597
2,897
10,482
30,908
7,571
110,791
1,504
6,514
3,512
7,485
5,127
39,992
62,630
64,134
46,657
38,245
84,902		 estricted
funds
2022
£
9,004
38,050
20,262
60,125
40,820
6,771
-
175,032
7,500
26,601
19,265
61,919
50,434
12,213
170,432
177,932
(2,900)
75,390
72,490		 Total
2022
£
64,340
38,050
23,859
63,022
51,302
37,679
7,571
Donations and
legacies
3
Charitable activities
Art
4
Career support
4
Education
4
Health & wellness
4
Recreation
4
Government scheme
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
Art
7
Career support
7
Education
7
Health & Wellness
7
Recreation
7
Total charitable
expenditure
Total expenditure
Net income for the year/
Net movement in funds
Fund balances at 1
February 2022
Fund balances at 31
January 2023
285,823
9,004
33,115
22,777
69,404
55,561
52,205
233,062
242,066
43,757
113,635
157,392

Balance Sheet

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 £
37,500
220,065
257,565
(38,951)
50,000
70,421		 £
21,561
218,614
240,175
(19,149)
221,026
100,605
120,421
221,026		 £
37,500
141,407
178,907
(23,561)
-
84,902		 £
28,750
155,346
184,096
(26,704)
157,392
72,490
84,902
157,392

The notes on pages 20 to 25 form part of these financial statements.

The financial statements were approved by the Trustees on .........................

.............................. Mrs. Yocheved Austerlitz Trustee

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 20 to 25 form part of these financial statements.

Notes to Financial Statements

1 Accounting policies

Charity information

Teen Action is a charity constituted and governed by a Trust Deed dated 1 July 2006. The charity is managed and controlled by the trustees, who meet regularly.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 25% reducing balance Fixtures and fittings 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Expenditure

Expenditure is recognised once there is a legal obligation or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Government grants

Government grants are credited to the Statement of financial activities when there is evidence of entitlement to the grant, receipt is probable and its amount can be measured reliably.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
Total
Unrestricted
Res
funds
funds
funds
2023
2023
2023
2022
£
£
£
£
Donations and gifts
37,730
34,545
72,275
55,336
Other grants receivable
-
6,000
6,000
-
37,730
40,545
78,275
55,336
Charitable activities
Art
Career support
Education
Health &
wellness
R
2023
2023
2023
2023
£
£
£
£
Income from charitable activities by
activity
17,362
36,689
120,319
61,506
Analysis by fund
Unrestricted funds
100
2,000
6,000
3,501
Restricted funds
17,262
34,689
114,319
58,005
17,362
36,689
120,319
61,506		 tricted
funds
2022
£
-
9,004
9,004
ecreation
2023
£
20,763
3,500
17,263
20,763		 Total
2022
£
55,336
9,004
64,340
Total
2023
£
256,639
15,101
241,538
256,639

4 Charitable activities

For the year ended 31 January 2022

ncome from charitable
activities by activity
Analysis by fund
Unrestricted funds
Restricted funds		 ArtCare
£
38,050
-
38,050
38,050		 er support

£
23,859
3,597
20,262
23,859		 Education
£
63,022
2,897
60,125
63,022		 Health &
wellness
R
£
51,302
10,482
40,820
51,302		 ecreation
£
37,679
30,908
6,771
37,679		 Total
2022
£
213,912
47,884
166,028
213,912

5 Government scheme

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Government kickstart scheme 2,374 7,571

6 Raising funds

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £

7 Charitable activities

7 Charitable activities

(Continued)

Art Career support Education Health & Wellness Recreation Total
2023
2023 2023 2023 2023 2023
Direct £ £ £ £ £ £
project
costs

For the year ended 31 January 2022

----- Start of picture text -----
Art Career Education Health & Recreation Total
Direct £ £ £ £ £ £ support Wellness 2022
project costs £ £ £ £ £ £
Analysis by fund
Analysis
by fund
----- End of picture text -----

8 Support costs

11 Taxation

Staff costs
Trainings & Workshops
Professional fees
Subscriptions
Office costs
Maintenance & Repairs
Publicity
Rent
Interest
Travel
Accountancy fees
Analysed between
Charitable activities		 Support
costs
Gov
£
3,768
511
1,448
335
967
230
731
4,658
711
68
-
13,427
13,427		 ernance
costs
£
500
-
-
-
-
-
-
-
-
-
3,900
4,400
4,400		 2023Support costs Go
£
£
4,268
4,157
511
730
1,448
276
335
309
967
52
230
-
731
30
4,658
2,755
711
417
68
-
3,900
-
17,827
8,726
17,827
8,726		 vernance
costs
£
-
-
-
-
-
-
-
-
-
-
2,591
2,591
2,591		 2022
£
4,157
730
276
309
52
-
30
2,755
417
-
2,591
11,317
11,317

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or reimbursement of expenses from the Charity during the year. (2022 - £NIL)

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Part time staff
Employment costs
Wages and salaries		 2023
Number
26
2023
£
152,510		 2022
Number
23
2022
£
135,960

Staff costs include amounts paid to senior management personnel comprising the CEO. The total employee benefits of the key management personnel were £24,990.

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Tangible fixed assets

12 Tangible fixed assets
Computer Fixtures and Total
equipment fittings
£ £ £
Cost
At 1 February 2022 59,710 37,340 97,050
At 31 January 2023 59,710 37,340 97,050
Depreciation and impairment
At 1 February 2022 34,855 33,447 68,302
Depreciation charged in the year 6,214 973 7,187
At 31 January 2023 41,069 34,420 75,489
Carrying amount
At 31 January 2023 18,641 2,920 21,561
At 31 January 2022 24,857 3,893 28,750
13 Debtors
2023 2022
Amounts falling due within one year: £ £
Other debtors 37,500 37,500
14 Creditors: amounts falling due within one year
2023 2022
Notes £ £
Bank loans 7,501 7,219
Trade creditors 28,325 13,217
Other creditors 1,125 1,125
Accruals and deferred income 2,000 2,000
38,951 23,561
15 Creditors: amounts falling due after more than one year
2023 2022
Notes £ £
Bank loans 19,149 26,704

There were no employees whose annual remuneration was more than £60,000.

16 Restricted funds

Balance at
1 February		 Movement
Income		 in funds
Expenditure		 Balance at
1 February		 Movement
Income		 in funds
Expenditure		 Balance at
31 January
2021 2022 2023
£ £ £ £ £ £ £

17 Designated funds

Movement
in funds
Income Balance at Transfers Balance at
1 February 31 January
2022 2023
£ £ £ £
18 Analysis of net assets between funds
Unrestricted Restricted **Total ** Unrestricted Restricted Total
fund funds fund funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £

Legal& Administrative Details

19 Related party transactions

Teen Action have been part ofour commissioned consortia for a number of years. They are a well-respected and popular organisation within the community and have proved their ability to deliver high-quality provision with good outcomes for young people. 99 Michele Luknar Partnerships Manager The Interlink Foundation 25