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← Teen Action

2024-01-31-accounts

Empowered Transitions Annual Report and Financial Statements Year Ended 31 January 2024

Annual Report and Financial Statements 2023-24 I 1

Empowered Transitions

Aiding transitions to employment, further education, independent living, and adulthood.

Annual Report and Financial Statements 2023-24 I 3

Trustees’ Report

7

Opening Statement

8

Change Framework

10

Charitable Activities

20

Key achievements

22

Strategy and goals

24

Structure, governance and management

26

Financial Review

Financial Statements

28

Independent Examiner’s statement

29 30

Statement of financial activities

Balance sheet

31 42

Notes to the financial statements Legal and administrative details

Annual Report and Financial Statements 2023-24 I 5

Chair’s Statement

Life is a series of milestones marked by key transitions.

Transition is tough. It requires skill mastery, bravery, resilience, and personal development. Arguably, the most complex challenge is the transition from childhood to adulthood, as it involves not only learning new skills but also navigating new responsibilities, relinquishing dependency, developing a sense of identity, and making key decisions that shape one’s future.

This year, our theme, Empowered Transitions, reflects the journey our young adults (ages 16+) make, guided by the support we provide at each critical stage. Like arrows pointing toward new horizons, we help school leavers chart a path forward—whether that means continuing their education, entering the workforce, moving into independent living, or stepping into adulthood with independence and purpose.

Our programs offer a lifeline during these pivotal moments, from mentoring and career development workshops to skills-building, personal growth work, and mental health support. As our young women grow, we grow alongside them, fostering a community where empowerment is more than a goal—it’s a way of life.

“Teen Action is a movement.

Its all about progression and development, for the beneficiaries and the organisation too. Leading this movement over the past year was the most empowering experience I’ve had.”

With each step forward, they are breaking down barriers, defying expectations, and carving their own unique paths to success. Teen Action is proud to be part of their journey, charting safe, healthy, prosperous, and positive futures.

A big shout-out to our dedicated staff, volunteers, Youth Advisory Group, and supporters—you all provide the power to empower and have been key to this year’s success.

Mrs. Yocheved Austerlitz Chairperson

Annual Report and Financial Statements 2023-24 I 7

Change Framework

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A world in which all young people have equal opportunities, regardless of their ethnicity, abilities,
socio-economic circumstances or individual needs.
To give marginalised young women from minority communities access to bespoke programs
and support, helping them to reach their potential; and to ease the transition to adulthood,
employment and independent living.
Adulthood Education Employment Independent Living
Inclusion Involvement Innovation Independence
We focus on addressing We prioritise youth We’re committed to change We’re focussed on long-term
inequalities and opening access representation & lived with the times and ensure impact, ensuring young women
for minroitised people. experience across all levels of our provision is continuously gain tools to support themselves.
the organisation. responsive.
Recreation Education Arts Career Guidance Health/Wellness
Bi-annual residential. Digital Skills training. Pyrography, confectionery, Employability training. Sport & fitness.
Day trips. Independent Living Program. floristry, hair styling, Work/volunteer placements. Personal Development &
Summer provision. Financial Literacy. photography, digital Illustration, Mentoring support. resilience program.
Vocational Training. computer Graphics, video In-employment peer support & Peer support group.
Literacy/numeracy support. editing, and music. learning group.
Increased Improved Improved Increased Improved Increased
Attainment Essential Skills employment Well-being Inclusion
confidence
Annual Report and Financial Statements 2023-24 I 9
VISION
MISSION
AIMS
VALUES
ACTIVITIES
IMPACT
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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.

Key programs:

“It was a wonderful summer work experience that built on my art skills and really boosted my confidence. It [the experience] will help me with my teaching assistant job next year.”

Break-Away

Break-Away is our bi-annual weekend/mid-week residential which engages upwards of 60 young women through outdoor learning and youth leadership opportunities. Meals are cooked, prepared and served by the young women, workshops are person-led and engaging, and participants work in teams to lead various aspects of the residential; increasing leadership, developing key life skills, and promoting team spirit.

Creative Break

Creative Break is our flagship summer scheme which draws our Recreation, Arts, and Career Support streams together. Graduates of our arts provision receive paid leadership opportunities during the summer break, leading art-based workshops for girls from marginalised communities and lowincome homes.

Annual Report and Financial Statements 2023-24 I 11

programmes provide flexibility for different schedules. We delivered accounting, bookkeeping, interior design, food & nutrition, and medical science training during the year.

Get Set Go

Education

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.

This is a central focus of our work, up-skilling young women and providing them with quality training and support at a core and advanced level.

Key programs:

PC Powered

PC Powered is our comprehensive digital skills provision which supports marginalised young women to gain core and vocational digital skills through a variety of courses, open-access digital facilities, and a culturally-specific Digital Literacy/E-Safety program. Beginners PC, ITQ Levels 2 and 3 Certificate/Diploma, Computer Graphics and Digital Illustration were delivered during the year in review. We are thankful to the Henry Smith Charity for our multi-year grant renewal, ensuring the sustainability and development of this key provision.

Our multi-dimensional Independent Living Program (ILP) 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 postprogram mentoring support, we empower young adults by developing their financial literacy, home management skills, civic responsibility, and societal inclusion.

Addressing Education Inequalities

As part of the Propel collaboration seeking to address inequalities in the capital, and supported by a grant from the City Bridge Foundation, we embarked on an exploration in conjunction with close to 300 young women, to analyse education inequalities in our community and its direct impact on low-level employment trends. The findings are revealing and due to be published by the end of 2024. It will inform our education work going forward and will open opportunities for collaboration and driving systems change.

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 and/ or the achievement of a functional skills qualification. This provides a platform for further education and training.

Vocational Training

Our vocational training offer supports those in or out of employment to up-skill. Daytime and evening study

Annual Report and Financial Statements 2023-24 I 13

Arts

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 arts provision is growing, encompassing multiple disciplines of creative arts and music, with essential skills development embedded.

Key programs:

ArtWaves

Our ArtWaves provision combines arts engagement with vocational training and essential skills development. We offer short courses in pyrography, floristry, hairstyling, confectionery, and floristry, lead by freelance artists. This year, with funding from The NCS Trust, the program was developed to include measured essential skills progression in line with the Skills Builder Universal Framework.

Teen Action have joined the Skills Builder Partnership, a global group of businesses, education institutions, and impact organisations committed to using the Skills Builder approach to transform how the world builds essential skills. We have achieved an Impact Level 4, evidencing recognition, application, and progression of Essential Skills through the ArtWaves programs.

Music Making

Our music delivery covers piano and guitar training, a weekly choral ensemble, and now the in-progress development of a culturally specific music, rhythm and movement training program being designed by young women in conjunction with music experts, and supported by a grant from Youth Music’s Trailblazer Fund.

Annual Report and Financial Statements 2023-24 I 15

Business Start-up

Career Support

New for 2023-24, we piloted a business start-up program for those wishing to launch a small business to increase earnings and autonomy, and to support a family-centred lifestyle. The program consisted of training, workshops and practical applications. We seek to develop this in future, based on evaluation and learnings.

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 employment.

We support young women experiencing systemic inequality, to enter and/or progress in employment through career guidance, work placements, mentoring and in-employment peer-support.

.

Key programs:

Career Guidance

We deliver the comprehensive Goldstar Employability & Soft Skills Program, designed to support minoritised young women into the workforce.

Mentoring

Young women are able to access 1:1 sessions with a youth worker to discuss individual qualities, challenges, goals, and aspirations; setting SMART targets with appropriate referrals to further training, jobs and support.

Work placements

We partner with local schools, charities, and businesses to provide young women with suitable work placements and/or volunteering opportunities.

New Employee Network (NEN)

Career guidance typically focusses on employment entry, yet if young women are to sustain employment & progress, they need in-work support. NEN welcomes young women in their first year of employment, offering monthly in-work training opportunities and moderated peer support.

Annual Report and Financial Statements 2023-24 I 17

Health & Wellness

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 & well-being 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 development, and mental health awareness to achieve this.

.

Key programs:

Mental Health Ambassadors (MHA)

MHA is a 3-dimensional mental health awareness program for young women, soon to be educators, childminders, or youth workers. It is delivered alongside Teachers Training/Childcare qualifications in conjunction with local colleges and merges our Health, Education and Career streams.

Social Talk-Shop

Bi-weekly peer-support and learning opportunity exploring personal development, resilience, communication, and emotional management.

Food provision

We addressed food poverty through the delivery of warm meals in a community setting, catered by young women on our Food and Nutrition training program.

Sport & movement

Delivery of regular fitness classes focussing on movement and strengthening the core. Funding from Go! London will develop our sports offer to be cross-cutting, varied and sustainable. in future.

Annual Report and Financial Statements 2023-24 I 19

Key Achievements 2023-24

Young People

239 beneficiaries 2,576 hours of delivery 32 programs delivered 52 jobs/employee progressions 174 work/volunteer placements 138 accreditations

The Community

13 community partners

16 corporate partners

* Estimated.

6 community events 1 community consultation 1485 indirect beneficiaries _11 volunteers engaged _The Organisation 11_ new staff 89 staff training hours 2 awards achieved 3 multi-year grants secured** _1 new youth centre

The Organisation

Annual Report and Financial Statements 2023-24 I 21

Strategy & Goals

As our young women grow, we grow alongside them. Below are our core strategies and goals going forward.

Skills Builder Roll-out

We’ve successfully embedded essential skills development in our ArtWaves provision, awarded the Skills Builder Impact Level 4. We now wish to develop a framework for inclusion of essential skills across all our provisions. This will be rolled out in measured steps.

Post-18 progression support

Traditionally we’ve focussed on 16-18 year-olds, preparing them for key transitions. We acknowledge that they often need follow-on support during transitions yet there is little available to them. We are steadily expanding our offer to include young adults up to 25 years, addressing a gap between children’s amd adult’s services. This has been piloted with our New Employee Network and will be rolled out across our education streams too.

Education development

Building on our Propel explorative project, we are now looking to publish and act upon the findings, working in conjunction with local further education establishments to develop the community’s further education (college) offer. We also wish to address the lack of progression opportunities and access to adult/higher education by working together with key policymakers, the GLA, OfS, and the ESFA to remove barriers to adult learning for minoritised women.

Fund diversification

To date more than 80% of our income is from grants. With this becoming more competitive as of late, we are seeking additional income streams, particularly focussing on building unrestricted income. We will be exploring corporate giving/sponsorship through reaching out to businesses within our catchment area, and will reinstate our dormant Employee Giving scheme, reaching out to past beneficiaries who are now earning and may wish to give back.

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Annual Report and Financial Statements 2023-24 I 23
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Structure, Governance & Management

We are committed to safe, effective, and quality youth work, maintaining the engagement of stakeholders.

best placed to deliver to this marginalised group. Just under 70% of our staff and volunteers are aged under 30 (including our CEO).

Safeguarding

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.

Accolades and Awards

Charitable Objects

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.

Youth Leadership & Involvement

We have an elected Youth Advisory Group (YAG) 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 within the charity.

Lived experience leadership

95% of our staff & volunteers and 80% of our board self-identify as female, with all sharing the same community identity, making them

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 International Non-Profit awards; “Best Holistic Youth Sector Support Charity 2023 – London”.

Partnerships and Networks

We recognise the value of working in partnership with others to advance our charitable purposes, and for the benefit of young women and the community as a whole. We engage with a broad scale of partners, networks, and stakeholders to achieve our mission. Our core networks are London Youth, UK Youth, Hackney CVS, The City & Hackney Well-being Network, the Faith & Belief Forum, The Propel Collaboration, and The Interlink Foundation.

We deliver in partnership with, and alongside, local colleges, Goldstar Creative, Technology Awareness Group (TAG), a local network of CYP providers, mental health services and poverty relief organisations. We’re proud to hold the trust and support of major funders including The National Lottery Community Fund, The Henry Smith Charity, Tudor Trust, NCS Trust, the Swire Charitable Trust, Youth Music and others.

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 YAG. Day-to-day operations are overseen by the CEO, who line manages staff and volunteers. During the year, the charity employed 15 staff (6 FTE), 22 sessional workers and 11 volunteers.

Recruitment, Induction and Training

It is not the intention of the Trustees of the charity to appoint any new

(continued on next page)

Annual Report and Financial Statements 2023-24 I 25

(continued from previous page)

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. Both manual and automated checks are regularly invoked, particularly those relating to the operations, reputation & finance of the charity.

The Trustees are satisfied that these systems and procedures mitigate the potential effects of any perceived risks.

almost equal to that of last year (2024: £334,542, 2023: £337,288) despite an increasingly difficult funding climate. Trustees gratefully acknowledge that the outstanding impact and achievement of the organisation are largely due to the generous support of our community and generous funders.

The charity incurred significant expenses related to capital works at our new premises. Funds were drawn from our designated building fund, capital grants, and free reserves and are currently held as fixed assets accross our 10-year premises lease.

The charity had a higher expenditure budget (2024: 326,358, 2023: £273,654) due to increases in staff & delivery. The Trustees are satisfied that this was managed effectively, and acknowledge an ongoing need for income growth/diversification to fuel growing operations.

Cost-Centred Budget

The Trustees who served during the year were: Mrs. Yocheved Austerlitz (Chair),

Mr. Abraham Fried (Treasurer),

Mrs. Faigy Taub, Mrs. Sarah Bard,

Mrs. Goldie Rosenberg.

Financial Review

The Trustees present their report and financial statements for the year ended 31 January 2024.

The financial statements have been prepared in accordance with 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 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).

Financial Review

The Trustees are happy to report that income during the year was

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 aims. It is important to note that due to the holistic nature of our work, many provisions cross-cut our strategic aims, and therefore the income/expenses 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.

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. At the close of the financial year, Teen Action held £97,923 (2023: £66,127) in free reserves, equivalent to 3.6 months running costs. The Trustees are satisfied with the level of reserves held and aim to maintain this.

The Trustees’ report was approved by the Board of Trustees on 29 November 2024

Mrs. Yocheved Austerlitz, Trustee - Chairperson Dated:................................

Annual Report and Financial Statements 2023-24 I 27

Independent Examiner’s Report

I report to the Trustees on my examination of the financial statements of Teen Action (the Charity) for the year ended 31 January 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I 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)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted 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:

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.

Berish Hoffman FCA

Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

Dated: 29 November 2024

Statement of Financial Activities

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2024
2024
2024
2023
2023
Notes
£
£
£
£
£
Income and endowments from:
Donations and
legacies
3
93,728
13,592
107,320
37,730
40,545
Charitable activities
Art
4
-
67,504
67,504
100
17,262
Career support
4
750
92,240
92,990
2,000
34,689
Education
4
3,000
21,693
24,693
6,000
114,319
Health & wellness
4
2,000
35,585
37,585
3,501
58,005
Recreation
4
-
4,448
4,448
3,500
17,263
Government scheme
5
-
-
-
2,374
-
Total income
99,478
235,062
334,540
55,205
282,083
Expenditure on:
Raising funds
6
311
6,682
6,993
852
8,210
Charitable activities
Art
7
8,074
65,879
73,953
167
33,993
Career support
7
3,682
60,675
64,357
1,737
34,294
Education
7
24,236
63,749
87,985
3,956
93,268
Health &
Wellness
7
9,519
44,735
54,254
5,450
67,522
Recreation
7
24,902
13,912
38,814
7,524
16,681
Total charitable
expenditure
70,413
248,950
319,363
18,834
245,758
Total expenditure
70,724
255,632
326,356
19,686
253,968
Net incoming/(outgoing)
resources before
transfers
28,754
(20,570)
8,184
35,519
28,115
Gross transfers
between funds
16,849
(16,849)
-
-
-
Net income/(expenditure)
for the year/
Net movement in funds
45,603
(37,419)
8,184
35,519
28,115
Fund balances at 1
February 2023
120,421
100,605
221,026
84,902
72,490
Fund balances at 31
January 2024
166,024
63,186
229,210
120,421
100,605		 Total
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
-
63,634
157,392
221,026

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes form part of these financial statements.

Annual Report and Financial Statements 2023-24 I 29

Year End 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 excluding pension liability
Net assets
The funds of the Charity
Restricted income funds
16
Unrestricted funds
17		 2024
£
27,844
154,045
181,889
(22,055)		 £
81,051
159,834
240,885
(11,675)
229,210
229,210
63,186
166,024
229,210		 2023
£
37,500
220,065
257,565
(38,951)		 £
21,561
218,614
240,175
(19,149)
221,026
221,026
100,605
120,421
221,026

The notes on pages 10 to 20 form part of these financial statements.

The financial statements were approved by the Trustees on 29 November 2024

..............................

Mrs. Yocheved Austerlitz Trustee

Notes to the 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.

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 £.

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

Restricted funds are subject to specific conditions by donors or grantors 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.

Annual Report and Financial Statements 2023-24 I 31

Notes to the Financial Statements

(Continued)

1 Accounting policies

1.6 Tangible fixed assets

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:

Leasehold land and buildings 10% Standard balance Plant & Equipments 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.

1.7 Impairment of fixed assets

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).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

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.

Notes to the Financial Statements

(Continued)

1 Accounting policies

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

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
funds
funds
2024
2024
£
£
Donations and gifts
93,728
2,617
Other grants receivable
-
10,975
93,728
13,592		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
96,345
37,730
34,545
10,975
-
6,000
107,320
37,730
40,545		 Total
2023
£
72,275
6,000
78,275

Annual Report and Financial Statements 2023-24 I 33

Notes to the Financial Statements

4 Charitable activities

Income from charitable activities by
activity
Analysis by fund
Unrestricted funds
Restricted funds		 Art
Career support
Education
2024
2024
2024
£
£
£
67,504
92,990
24,693
-
750
3,000
67,504
92,240
21,693
67,504
92,990
24,693		 Health &
wellness
Recreation
2024
2024
£
£
37,585
4,448
2,000
-
35,585
4,448
37,585
4,448		 Total
2024
£
227,220
5,750
221,470
227,220

For the year ended 31 January 2023

Income from charitable
activities by activity
Analysis by fund
Unrestricted funds
Restricted funds		 ArtCareer support
Education
£
£
£
17,362
36,689
120,319
100
2,000
6,000
17,262
34,689
114,319
17,362
36,689
120,319		 Health &
wellness
Recreation
£
£
61,506
20,763
3,501
3,500
58,005
17,263
61,506
20,763		 Total
2023
£
256,639
15,101
241,538
256,639

5 Government scheme

Total Unrestricted funds 2024 2023 £ £ Government kickstart scheme - 2,374

Notes to the Financial Statements

6 Expenditure on raising funds

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2024
2024
2024
2023
2023
£
£
£
£
£
Fundraising and publicity
Other fundraising costs
311
-
311
852
920
Staff costs
-
6,682
6,682
-
7,290
311
6,682
6,993
852
8,210
Charitable activities
Art
Career
support
Education
Health &
Wellness
Recreation
2024
2024
2024
2024
2024
Direct project costs
£
£
£
£
£
Staff costs
42,950
46,927
51,435
26,770
3,829
Trainings & Workshops
560
2,546
1,500
8,158
1,290
Certificates
117
1,870
12,482
-
-
Volunteer costs
-
-
-
2,340
-
Professional fees
450
50
2,258
920
4,033
Office costs
1,357
219
239
42
-
Equipment
2,040
-
-
1,095
-
Material & Supplies
9,774
130
463
-
388
Travel
101
369
74
1,321
6,016
Food
2,361
2,314
564
3,608
2,856
Publicity
1,459
771
137
-
269
Rent
6,193
3,067
7,090
1,111
-
Facility hire
-
1,100
3,150
11,407
Accountancy fees
170
271
162
Depreciation
3,586
3,310
3,586
2,482
827
71,118
62,944
79,990
50,997
30,915
Share of support costs
(see note 8)
2,521
1,413
6,739
2,803
6,503
Share of governance
costs (see note 8)
314
70
1,256
454
1,396
73,953
64,357
87,985
54,254
38,814
Analysis by fund
Unrestricted funds
8,074
3,682
24,236
9,519
24,902
Restricted funds
65,879
60,675
63,749
44,735
13,912
73,953
64,357
87,985
54,254
38,814		 Total
2023
£
1,772
7,290
9,062
Total
2024
£
171,911
14,054
14,469
2,340
7,711
1,857
3,135
10,755
7,881
11,703
2,636
17,461
15,657
603
13,791
295,964
19,909
3,490
319,363
70,413
248,950
319,363

7 Charitable activities

Notes to the Financial Statements

7 Charitable activities

(Continued)

For the year ended 31 January 2023

Staff costs
Depreciation and
impairment
Equipment
Rent
Trainings & Workshops
Certificates
Volunteer costs
Professional fees
Office costs
Material & Supplies
Maintenance & Repairs
Travel
Food
Publicity
Facility hire
Share of support costs (see
note 8)
Share of governance costs
(see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 Art
£
21,826
821
459
3,040
200
148
140
-
610
4,409
-
43
487
506
-
32,689
1,328
143
34,160
167
33,993
34,160		 Career
support
Education
Health &
Wellness
Recreation
£
£
£
£
20,770
61,379
36,121
1,356
934
2,488
1,969
976
-
5,226
-
-
1,542
5,363
4,280
-
4,715
2,300
18,748
150
3,262
7,554
-
-
410
723
205
353
300
625
575
-
540
565
578
-
22
499
80
161
-
575
-
-
300
670
1,093
10,570
179
726
2,352
2,070
855
1,096
1,500
273
100
2,000
500
4,448
33,929
91,789
68,001
20,357
1,668
4,381
3,710
2,340
434
1,054
1,261
1,508
36,031
97,224
72,972
24,205
1,737
3,956
5,450
7,524
34,294
93,268
67,522
16,681
36,031
97,224
72,972
24,205		 Total
2023
£
141,452
7,188
5,685
14,225
26,113
10,890
1,831
1,500
2,293
5,171
575
12,676
5,814
4,230
7,048
246,765
13,427
4,400
264,592
18,834
245,758
264,592

Notes to the Financial Statements

8 Support costs allocated to activities

Staff costs
Operating lease charges
Bank Charges
Training and workshop
Repairs and maintenance
Professional fees
Rent
Travel
Office costs
Interest payable
Publicity
Governance costs
Analysed between:
Art
Career support
Education
Health & Wellness
Recreation
Governance costs comprise:
Staff costs
Accountancy		 2024
£
4,014
309
183
45
24
-
8,938
-
5,745
604
47
3,490
23,399
2,835
1,413
7,995
3,257
7,899
23,399
2024
£
-
3,490
3,490		 2023
£
3,768
335
-
511
230
1,448
4,658
68
967
711
731
4,400
17,827
1,471
2,102
5,435
4,971
3,848
17,827
2023
£
500
3,900
4,400

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. (2023 - £NIL)

10 Employees

The average monthly number of employees during the year was:

2024 2023 Number Number Part time staff 37 26

Notes to the Financial Statements

(Continued)

10 Employees

Employment costs 2024 2023 £ £ Wages and salaries 182,607 153,010

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

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

11 Taxation

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.

Notes to the Financial Statements

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Bank loans
Trade creditors
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Notes
Bank loans		 2024
£
7,591
10,486
2,078
1,900
22,055
2024
£
11,675		 2023
£
7,501
28,325
1,125
2,000
38,951
2023
£
19,149

15 Creditors: amounts falling due after more than one year

12 Tangible fixed assets

Leasehold
land and
buildings
Plant &
Equipments
Fixtures and
fittings
£
£
£
Cost
At 1 February 2023
-
59,710
37,340
Additions
66,126
6,281
875
At 31 January 2024
66,126
65,991
38,215
Depreciation and impairment
At 1 February 2023
-
41,068
34,420
Depreciation charged in the year
6,613
6,231
949
At 31 January 2024
6,613
47,299
35,369
Carrying amount
At 31 January 2024
59,513
18,692
2,846
At 31 January 2023
-
18,641
2,920		 Total
£
97,050
73,282
170,332
75,488
13,793
89,281
81,051
21,561
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors		 2024
£
9,094
18,750
27,844		 2023
£
-
37,500
37,500

16 Restricted funds

The funds of the charity include restricted funds comprising the following balances relating to various projects operated by the charity.

At 1 February
2023
Incoming
resources
Resources
expended
Transfers At 31
£
£
£
£
Restricted funds
100,605
235,062
(255,632)
(16,849)
Previous year:
At 1 February
2022
Incoming
resources
Resources
expended
Transfers At 31
£
£
£
£
Restricted funds
72,490
282,083
(253,968)
-		 January
2024
£
63,186
January
2023
£
100,605

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 February
2023
Incoming
resources
Resources
expended
Transfers At 31
£
£
£
£
Designated funds
50,000
-
-
(50,000)
General unrestricted funds
70,421
99,480
(70,726)
66,849
120,421
99,480
(70,726)
16,849		 January
2024
£
-
166,024
166,024

Notes to the Financial Statements

17 Unrestricted funds

Unrestricted funds (Continued)
Previous year: At 1 February Incoming Resources **Transfers ** At 31 January
2022 resources expended 2023
£ £ £ £ £
Designated fund - - - 50,000 50,000
General funds 84,902 55,205 (19,686) (50,000) 70,421
84,902 55,205 (19,686) - 120,421

Designated funds represent amounts sent aside by the trustees towards the renovation of the charity's premises.

ANYTHING IS POSSIBLE WHEN YOU HAVE THE RIGHT PEOPLE THERE TO

SUPPORT YOU

18 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 January 2024:
Tangible assets 68,101 12,950 81,051
Current assets/(liabilities) 109,598 50,236 159,834
Long term liabilities (11,675) - (11,675)
166,024
63,186
229,210
~~Le~~
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 January 2023:
Tangible assets 4,294 17,267 21,561
Current assets/(liabilities) 135,276 83,338 218,614
Long term liabilities (19,149) - (19,149)
120,421 100,605 221,026

19 Related party transactions

There were no disclosable related party transactions during the year.

Annual Report and Financial Statements 2023-24 I 41

Charity Number 1120268

Trustees

Mrs. Yocheved Austerlitz Mr. Abraham Fried Mrs. Faigy Taub Mrs. Sarah Bard Mrs. Goldy Rosenberg

Address

Basement 27 Stamford Hill London N16 5TU

Telephone

020 8809 1753

Web/Email info@teenaction.org.uk https://teenaction.org.uk/

Independent Examiner

Berish Hoffman FCA Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX