Company registration number.. 06228171 Charity registration number: 1121717 Southside Young Leaders Academy IA company limited by guarantee) Annual Report and Financial Statement5 for the Year Ended 30 April 2021 A4FIL2WIZ 2710712032 COMPANIES HOUSE A12
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HFL Accountants Limited Chartered Certified Accountants HFL House Saxon Way Melbourn Cambridgeshire SG8 60N
Southside Young Leaders Academy Contents RefererKe and Administr3trve Details Trustees, Report 2to6 Independent Examiner's Report Stotement of financial Activities 8t09 Balance Sheet io Notes to the Financial Statements Ilto20
Southside Young Leaders Academy Report of the Trustees The trustee5 who are also directors of the charty for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2021. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI A¢¢ounting and Reporting by Charities, issued in March 25. REFERENCE AND ADMINISTRATIVE DETAILS Regi5tefed Company number 06228171 (England and Walesl Registered Charity number 1121717 Registered Office.. Ark Academy Watworth Shorncliffe Road London SEI 5UJ TRUSTEES: Francis Evans Annemarieke Murthi Winston Davis Ofei Kwafo-Akoto David Rowe-Francis Alan McDougall Claire Martin Shaida Kwapong Samuel Osei-sarkodie Caren Onanda Veronica De Schot Max Woodbridge Ikenna Andrew Acholonu Chairman (resigned August 20201 Treasurer {resigned September 20211 Appointed April 2019 lappointed Chair in July 20201 Appointed April 2019 {appointed Secretary April 20201 Resigned July 2021 Resigned July 2021 Resigned July 2021 Appointed February 2020 Appointed February 2020 Appointed August 2020 Treasurer (appointed July 20211 Appointed July 2021 Appointed July 2021 INDEPENDENT EXAMINER HFL Accountants HFL House, I Saxon Way. Melbourn, Royston SG8 6DN BANK Uoyds Bank PIC Canary Wharf Branch Unit 3 Park Pavilion 40 Canada Square Canory Wharf London E14 5FW CHIEF EXECUTIVE AND SENIOR STAFF MEMBERS: Oivanio Crooks Arting CEO (April 2020-June 20211 and Leadership Delivery Manager Senior Programme Manager (March 2020- presentl Uviena Walters Page I
Southside Young Leader5 Academy Report of the Trustees STRucfuRE, GOVERNANCE AND MANAGEMEP GOVERNING DOCUMENT The charity is controlled by Fts 8overnin8 document. a deed of trust. and constitutes a limited company. limited by guarantee. as defined by the Companies Act 2006. The organisation is a charitable company limited by guarantee, incorporated on 26th April 2007 and registered as a charity on 28th November 27. The company was established under a Memorandum of A550ciation which established the objetts and powers of the charitable company and is governed under its Article5 of Association. In the event of the company being wound up every member of the charity undertakes to contribute Such amount as may be required (not exceedin8 £1) and subject to any such resolution by the members, the Directors of the Charrty may resofve that any net assets of the charity after all its debts and liabilitie5 have been paKI shall be applied or transferred in any of the following ways.. lal directty for the Objects,. or Ibl by transfer to any other Charity or Charities for purposes similar to the Objects- or Icl to any Charity for use for particular purpose that fall within the objects. REcRUITMEr AND APPOINTMENT OF NEW TRUSTEES Potential trustees are recruited by advertising through various channels including online recruitment platforms and word of mouth recommendations. Candidates are interviewed by the Chair and the Secretary and they are asked to provide two referees and subject to safeguarding checks. If formalty approved by the other Board members. they will be irwited to become Trustees. ORGANISATIONAL sTrucfvRE The Southside Young Leaders Academy ISYLAI has a Board of Trustees who meet every six weeks and who re responsible for the strategic direction and policy of the charity. At the Iialance Sheet date, the trustee5 consisted of nine members from a variety of professional backgrounds relevant to the work of the charity. In 2019. the board made efforts to reintroduce trustee rotation. to ensure fresh ideas and energy would be injected into SYLA. After the 30 April. Several trustees hève 51@ne from the board as part of this rotation mechanism, an¢J have been replaced by other professionals. bringing a wide variety of skillset5 to the board. Members of the Board of Trustees. who are directors for the purpose of company law and tru5tee5 for the purpose of charity law. who served during the year12019-201 and up to the date of this report are set out on PaBe l. The Chief Executive attends Board meetings but has no votine rights. Followlng the departure of Mark Hughes as the volunteer Chief Executive in March 2020. the Leadership Delivery Manager stepped up to act as Chief ExecutNe on a voluntary basis. In doing $0, he attended the board for èn interim period to present an operational report. Where trustee meeting times clashed with SYLA activities. the Leadership Delivery Manager prepa the operational update POrt, whKh was psented to the board by the trustee acting s his line manager. R15K MANAGEMENT The trustees have a duty io itlentify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. PaBe 2
Southside Young Leaders Academy Report of the Trustees The Board has a formal. written policy of internal financial control procedures which will continue to be monitored and updated to cover new risk area5 as and when they are identified. Given the Significant (Jelivery changes this year due to the Covid-19 pandemic, there has been significant review and redesign of risk assessments as SYLA has navigated 5Wltching from in person delivery. to virtual delivery, and back to in person delivery. Safeguarding both the boy5 and SYL4 staff has been the utmost priority. and SYLA was able to procure laptops ond data support from emergency grant funding to enable boys to continue participating in SYLA programmes and staff to work remotely from home. OBJEcfivES AND AIMS The mission of SYLA is to nurture. develop, maximise and release the leadership potential of young men from the African and Afro-caribbean community from disadvantaged background5, especially those at f15k of exclusion from school, empowering them to become positive active citizens and a new generation of business and community leaders. SYLA'S CORE VALUES ARE: • Excellence & Aspiration •Team Work & Service • Evidence-Based Practice & Learning •Transparency & Accountability STrATEGIC OBJEcfivES l. To support each boy, through needs assessment and activities relevant to their transitional stages (such as counselling and mentoring and enhancement of the educational and leadership programmesl, to identify and achieve their development goals. and develop as a young leader,. 2. To strengthen current and develop new partnerships with key stakeholders. agencies, and experts. forming a Support matrix that helps the boys attain their development goals.. 3. To develop a knowledge base of what works in empowering boys to become young leaders. to share good practice, and to identify and promote effective education policies. GUIDANCE ON PUBUC BENEFIT Trustee5 are aware of the Charity Commission guidan on this subject and confirm that they will read the PDF documents contained on the Commission's website. Pa8e 3
Southside Young Leaders Academy Report of the Trustees ACHIEVEMENT AND PERFORMANCE OVERVIEW OF THE YEAR 2020-21 continued to build on the transition stsned in 2018119 for SYLA. In a moment where Black Lives Matter came to the fore. and the Covid-19 pandemic exacerbated challenges experienced by the familie5 we work with, it became more important than ever to continue our services and prioritise the lives of our beneficiaries- the young people of 50Uth London. Throughout the year. we have been tognisant of the impact of the pandemic on our boys, families - the a(Jditional challenges they bear with falling behind in school. without devices to effectively study from home, ènd the irnpèct on their mental wellbeing. Challenges around tsolation alw had 3 negative impatt on levels of self-esteem. emotional intelligence. confidence and leadership ski115. Thi5 has led to change5 in our delivery model in some areas and strengthening and reinforcement in others. SYLA'S service offerin8 comprised.. Our leadershipfocu5ed Saturday Academy, had è dip in attendance this year, driven by ihe pandemic and remote joining. Attendance ranged from 15-32 boys. and since the year end and in person delivery has restarted, this has increased to 40+ boy5 again. Alongside our usual blend of leadership-focused activities. we also.. DelNered the Let s Tolk About Knives projett, desiEned to provide èn understanding of the law, develop emotional intelligence and resilien. and provide the boys with the tools to deal with conflict resolution and make positNe lrfestyle choices. This has included working with spoken word artists to provide alternative mechanisms of expressing or articulatin8 feelings and fears. Started our Youn8 Enterprise programme, under the National Lottery Thriving & Striving programme. Boys ère comine together to learn work skills, business confidence and knowledge to better equip them with the toots they need to increase their employabilitV* enterprise skills and fulfil their potential. Started a nine-month programme focused on the black experience during World Wor One. This kicked off with a visit to the Imperial War Museum, with further events planned for 2019120- including a visit for boys to the battlefields of northern France. Our after-school education programme, which is focused on supporting boys develop capability in English and Maths. 22 boys took part in this programme. which is less than prior years due to the drop out from remote leaming. Given the challenges of the pandemic and disruption caused to school education. our ambitions shifted to be more realistic and to moirhtain grade levels 50 far a5 P055ible. However. we continued to develop building on the delivery experience we gained in previous year5. In the Spring term, where the focu5 was on English, pupi15 were from Key Siage 2, K53 and K54. In addition to the after-school education programme, SYLA has also decided to ernbed English lènguage learning across the projects we run during our Saturday Leadership Acaderny and holiday programme. This has included creative writing sessions. as well as spoken word workshops. with the larter being a particular success with our b. Our ongoing partnership with Royal National Children's Springboard Foundation, which gives our boys access to boarding school bursaries. SYLA currently ha5 a total of 13 boys at seven boarding schools. We will continue to support new applicants, as well as existing boarders, to harness the translormational experience on offer from Royal Springboard and our Senior Programme Manager has done a great job at providin8 more in person support as the year has progressed. Page 4
Southside Young Leaders Academy Report of the Trustees We are also delighted to have been awarded the Bronze Youth Quality Mark from London Youth. Significant effort5 have been made in the last two years to bring SYLA'S policies and procedures to a higher standard, and it is amazing to see this recognised by London Youth. This could not have been achieved without the sustained efforts from members of the board, and our dedicated SYLA teèm. The SYLA team is at the heart of everything the Academy does. Divanio Crook5, the Leadership Delivery Manager and volunteer aCiin8 CEO has been instrumental in helping SYLA put in place the pfogrammes that were re-engineered to deliver our services in 2021 virtually. and revolutionised SYLA'S paper-based operations to a fully digital, accessible model. This included securing signifbcant funtlin8 to enable our boys to have laptops to access educational materials, connect wrth SYLA virtually and remain within the prograrnme. At a potential moment of crTrsis. Divanio provided steady leadership and solid foundations to enable a new CEO to take SYLA forward. Following the departure of Amandè Johannson. who Set SYLA up brilliantly and improved the managemer¢t of Services to our boys in the boarder Programme. as well our ongoing partnership with Royal National Children's Springboard Foundation. SYLA welcomed Uviene Walters, who has carried this mantle forward with aplomb. Uviene is also managing our flagship National Lottery: Thriving & Striving programme with great energy. The board would like to thank both Divanio and Uviene for their huge commitment and resilience through such a difficult year, and we are excited about the opportunities our skilled staff can unlock under a new CEO. Divanio leads a refreshed team of Leadership Instructors. who bring new energy and perspectives to our work. Volunteers make a signifitant contribution to our fund-raisin8 efforts and to our office administration. We would also like to thank our many volunteers who have supported SYLA across the year. both in working directly with the boys, and in helping with SYLA'S back office operations, to whom we are tremendously grateful. We are p3rtictAlarly thankful for the ongoing engagement from our founders Andy and Pat Walker - whose energy. commitment and enthusiasm remain an inspiration for all the team, as well as a major practical help in everything from running events to raising funds. WIDER ENGAGEMENT The issue of youth violence sadty remains pertinent and rarely out of the news. Following the BBC produced film dedicated to the work of SYLA Ihttps'./lwww.bbc.co.uVnew5lavlstories473789901can-knife-crime-be- stopped-before-it-startsl. which was swn at a special screening in Camberwell, we have also worked to build an online PsenCe. SYLA now has an up-to-date Instagram and Facebook account, as well as a refreshed web51te to keep funders. parents and the community up to date with the impact of programmattc interventions. Sadly our plans to partake in future media films about youth crime have been put on hold due to the pandemic. but we hope future opportunities will arise so that we will continue this WiLler engagement. As London opens up again, we hope to engage our alumni in a more strategic way and host an event to bring the boys together again. FUTURE PiANS 2020121 is another developmental year for SYIA. With demand for our 5ervKes Still strong, exacerbated bv the global Covid-19 pandemic whi¢h has deepened the inequalities in society. but funding remaining a Pa8e S
Southside Young Leaders Academy Report of the Trustees challenge for us as for the sector, our service offering and delivery model will continue to evolve. We remain confident that SYLA is still relevant to the needs of Ouf local community. and so it remains our ambition to grow and reach larger numbers of young people in deep and meaningful ways. To help with this, we will continue to expand our network of partners both in south London and atross the city as a whole and look forward to the new Op[rtUnitieS this will offer us in the year ahead. Significant effort5 to strengthen and develop our team, including the Board of Trustees will continue, as we particularly look for trustee5 With fundraising experience. As some trustees step down from SYLA in 2021, we are 8rateful for their efforts over the last year5, and are excited to welcome new energy, ideas and skillsets. In particular. the Board of Trustees are thankful to David Rowe-Francis. who has setved as a trustee of SYL4 since its inception and Alan Mct)ougall, who has provided educational and Safeguarding expertise, as well as stepping in to 5UPPOrt SYLA families as the Parent Liaison Officer throughout staffing gaps. We wish them well in future endeavours and look forward to their continued friendship and support. We go into 2021122 thinking about the challenges that Covid-19 presents to our beneficiarie5, ènd how best to adapt OLtr strategy to meet their unique need5. Whilst Cases of the virus are fallin& we know that the impacts of the pandemic, multiple lockdowns. school disruption and periods of isolation will have long lasting impacts. Now more than ever, we are cornmitted to supporting the welfare. emotional intelligente, self-esteem and confidence of our boys. Outside of core delivery. we continue to StrNe for operational effi¢ienc*s that will. allow us to adapt at speed to the changes to our operating environment and the needs of the boys we serve. They continue to be the centre and focu5 of our decision makin8. We believe that the difference that services like SYLA can make to the lives of young people and their families is profound, and we continue to be proud of all that SYLA achieve5. But above all else we are proutl of the achievements of our young people. whose energy. optimism and commitment ENes u5 hope for a better future. The annual report was approved by the trustees of the charity on ........... ........... signed on its behalf by .and Ston Davi5 Chairman and trustee Page 6
South5ide Young Leader5 Academy Independent Examinerfs Report to the trustees of South5ide Young Leaders Aeadeffly ("the CompanV'} I report to the charity trustees on my examiriation of the accounts of the Company for the year ended 30 April 2021. Resp¢>nsibilltles and basis of report As the charrtvs trustees of the Company lènd èlso its direttors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act'l. HavinB 5at15fied myself that the accounts of South5ide Young Leader5 Academy are not required to be audited under Part 16 of the 2(LJ6 Act and are eligible for independent examination. I report in respect of my examination of your charrirfs accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Comrni5sion under section 14515llbl of the 2011 Act. Independent ex•minerfs ststement 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-. l. accounting retords were not kept in respert of Southside Youne Leaders Academy as required by section 386 of the 2(X)6 Act.- or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the accounting requirements of sertion 396 of the 2006 Art other than any requirement that the accounts gNe a 'true and fair view, which is not a matter considered as part of an independent examination- or 4. the a¢¢ounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparingtheir accounts in accordancewith the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other mètters 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. Tracey Nic olls FCCA Association of Chartered Certified Accountants HFL House Saxon Way Melbourn Cambridgeshire SG8 6DN Dète..10.1/1..... Page 7
Southside Young Leader5 Academy Statement of Financial ArtiVTties for the Year Ended 30 Aprll 2021 {Includlng Income and Expenditure Account and Statement of Total RecoEnised Gains and Losses) Unrestrirted Restricted funds funds Total 2021 Note Income and Endotwments from: Donations and legacies Investment income 57.532 184,069 241,601 Total income 57.539 184.069 241,608 ExpendIre on: Charitable activities 138.8871 1189.5341 1228,421} Total expenditure 138,8871 {189,5341 1228,4211 Net incomellexpenditure) 18.652 15.4651 13,187 Net movement in funds 18.652 15.4651 13,187 Recon¢iKation of ld$ Total fvnds brought forward 8,999 99,224 108,223 Total funds carried forward 15 27.651 Unre5trirted funds 93.759 Restrirted funds 121.410 Tolal 2020 lTh¢ome and Endowments from: Donations and leBacies Investment income 35.919 172.362 208.281 Total income 35.925 172,362 208,287 Expenditure on: Raising funds Charitable activities 11,5001 144.2091 13,7561 1121.2091 15.2561 1165,4181 Total expenditure 145,7091 1124,9651 1170,6741 Net {expenditu>/IncOme Transfers between funds 19.7841 10,594 47.397 110.5941 37,613 Net Movement in funds 810 36.803 37,613 Reconciliati¢)n of funds Total funds brought forward 8.190 62.420 70.610 The notes on pages 11 to 20 forni an integral part of these financial statements. Page 8
Southside Young Leade Academy Statement of Flnanclal Artivities for the Year Ended 30 April 2021 (Includlng Income and Expenditure Atcount and Staternent of Total Recognlsed Gains and Losses) Unrestrirted fund5 Restrirted funds Total 2020 Total funds carried fonward 15 99.223 108,223 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 15. The notes on pages 11 to 20 form an integral part of these financial statements. Page 9
SoultsideYow¥ Leader5 Academv (Registration Nfflb¢r 062281n) Bakno Sheet J5 ¥t 30 Apn12021 2010 FIX a55ets Tansible assets li 8.332 Cwrenta55ets Debtors Cash at bank and In hand 12 16.600 99A23 19.868 119.991 116.423 139.859 Credltor5: Afflo lamlni due ¥Athln one year 13,6791 139,9681 NÈtcurr•nt •ssts 112.744 99.891 Iletassots IAIO 108,223 Funds ofthe dwrity. Restrlcted SM•mefunds Restricted fvnds 93,759 Unveslrfrted In¢omèlunds Unrestrirted funds 27,651 Total funds 121.410 108.223 For the finandal year ending 30 Apri12021 the thaiity was entitled w exemptbn from audrt under section 477 of the Companies Act 2006 relatlng to small companie& Dlrectors, resporfjibilities: The rnernber5 have not requlred the charity to obtsin an audit of its a¢counts ft>r the year in qucstlon In accordance wlth sectlon 476: and The dlrertors acknowledee thelr respon51billt5 complwng with the requirements of the Art wlth respectto accountine records aThJ the preparntion of accounts. The flnandal statements on pages 8 to 20 were apwovEd * the trustees, and ou¢h0ri5ed for issue L)n.£..s.,.I:nand slgned on their behalf ty. ston Oavis Chaiman and trustee The note5 on pages Ilto 20 form an kntegral part of these flnandal statements. Page 10
soh$lde Young Leaders Academy Notes to the Financial Ststements for the Year Ended 30 April 2021 I Charity status The charrty is limited by guarantee. incorporated in England and Wales, and consequentty does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is.. Ark Academy Walworth ShoTncliffe Road London SEI SUJ 2 Accountin8 policie5 Summary of significant accounting policies and key a¢¢ounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presented. unless Otherwise stated. Statement ol compliance The financial statements have been prepare(J in accordance with Accounting and Reporting by Charities.. Statement of Recommended Pradice lapplicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republit of Ireland IFRS 10211 (issued in October 20191- Icharities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2(KJ6. Basis of preparation Southside Young Leaders Academy meets the definition of a publK benefit entity under FRS 102. Assets and liabilities are initially recognised at historical c05t or transaction value unless otherwise stated in the relevant attounting policy notes. Going ¢oncefn The trustees consider that there are no matenal uncertainties about the charity's ability to continue as a going concern nor any significant areas of nrtaInty that affed the carrying ¥alue of assets held by the charity. Exemption from preparing a cash fli>w staternent The charity opted to early adopt Bulletin I pUblhe on 2 Febwary 2016 and have therefore not included a cash flow statement in these financial statements. Page 11
Southside Young Leader5 Academy Notes to the Financial Statements for the Year Ended 30 April 2021 Income and endowments All income is recognised once the tharity has entrtlement to the income. it is probable that the income will be received and the amount of the income reteivable tan be measured reliably. Oonotions ondlegacies Donations are recognised when the chartty has been notified in writing of both the amount and settlement date. In the event that a donation is subject to condition5 that require a level of performance by the charity before the charity is entitled to the funds. the income is deferred and not recognised until etther those conditions are fully met, or the fvifilment of those condrf(ions is wholly within the control of the charity and it is probable that these condrtions will be fu111ed in the reporting period. Investmentincome Interest on funds held on deposit is included when receivable and the amount can be measured liably by the charity: this is normally upon notification of the interest paid or payable by the bank. Expenditure All e¥pendrture is cOgnISed once there is a legal or constructNe obligation to that expenditure, it is probable settlemenl is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of $ourCes, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Roisingfvnds These are costs incurred in attracting voluntary income. the management of investments and those incurred in trading activities that raise funds. Choritoble ortivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and seNiees for its beneficiaries. It includes both costs that can be allocated directly lo such artivities and those cosls of an indirert nature necessary to SUPI)ort them. Governance costs These include the costs attributable to the charitrfs compliance with constitutional and statutory requirements. including audit. strategic management and tru51ee5's meelin8s and reimbursed expenses. Page 12
South5ide Youne Leaders Acaderny Note5 to the Financial Ststements for the Year Ended 30 April 2021 Taxation The charity is consided to pass the tests set out in Paragraph I Schedule 6 of the Finance Aci 2010 and therefore it meets the definition of a charEtable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Art 1992, to the extent that Such income or 8ains are applied exclusivety to charilaNe purpose5. Tangible fixed assets Individual fixed assets costing £3¢.00 or more are initialty recorded at cost, less any subsequenl accumulated depreciation and subsequent accumulated impairment losses. DePCl¥¢I0n and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuatiort, less any estimated residual valye, over their expected useful economic life as follows.. Asset dass Motor Vehicles Depreciation method and rate 25% on a reducing balanee 3 years on cost Computer and Office Equipment Trade debtor$ Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised inTtialty at the transartion price. They are subsequentty measured at mortised cost using the effective interest method. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due acuJrdin8 to the orinal terms of the receNables. Cash and cash equivalents Cash and cash equivalents comprise tash on hand and call deposits. and other short-term highly liquid investments that are readily convertible to a known amount of tash and are subjett to an insignificant risk of change in value. Pa8e 13
Southside Young Leader5 Academy Notes to the Financial Statements for the Year Ended 30 April 2021 Trade ¢reditOf5 Trade credrtors are obli8ations to pay for goods or services thal have been acquired in the ordinary course of business from suppliers. Accounts payable are classrfied as current liabilities if the charilv does not have an unconditional right. at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. rfthere is an unconditional right to defer settlement for at least twefve months after the reportin8 date. they are presented as non-current Trade creditors are recognised initially at the transaction price and subsequentty measured at amortised cost using the effectNe interest method. Fund strurture Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objertives of the charitv. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined tontribution pensM)n scheme whith is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even rf the fund does not hold sufficient assets to pay all employee5 the benefits relatin8 to employee 5eryice in the current and prior period5. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. rf contribution payments exteed the contribution due for Service, the excess is recognised as a prepayment. 3 Incoffle from donations and legacie5 Unre5trirted funds General Restrlcted funds Total funds Donations and legacies- Donations from companies. trusts and similar proceeds Donations from indNiduals 53.861 3.671 184.069 237,930 3,671 Total for 2021 57,532 184,069 241,601 Total for 2020 35.919 172,362 208,281 Page 14
Southside Young Leader5 Academy Notes to the Financial Statements for the Year Ended 30 April 2021 EXpendIre on raising funds al Costs of generatin8 donalk•ns and legacies Unrestricted nds Genei•l Restricted funds Total funds Total l¢r 2020 3.756 5,256 Total costs 5 Expenditure on charitable activitie5 funds General AVirted lunds Toial funds Ik+te Charitable activities Staff costs Governance costs 15.977 22,910 64,193 118,141 7.2C 80,170 141,051 7,200 Totsl lor 2021 38,887 189,534 228,421 Total lor 2020 44.209 121.209 165,418 Page IS
5outhside Young Leaders Academy Notes to the Financial Statements for the Year Ended 30 April 2021 6 Analysls of 8o¥eman¢e and sUPPOrt costs Governance costs Unrestrirted funds General Restrirted funds Total funds In(lependent examiner fees Examination of the financial statements Other govemance costs 6,600 Totsl for 2021 7,21XI 7.200 Total for 2020 5.199 6,675 11,874 7 Trustees remuneration and expenses No trustees. nor any persons connected with them. have received any remuneration from the charity during the year. Page 16
Southside Young Leaders Academy Notes to the Financial Statements for the Year Ended 30 April 2021 8 stsff cosls The aggregate payroll costs were as follows= 2021 2020 Staff costs during the year were: Wages and salarie5 Social security costs Pension cost5 Other staff costs 114,908 5,842 3,059 17,242 42,472 258 906 34,169 141.051 77,805 The monthly average number of persons (including senior rnanègement I leadership team) employed by the charity during the year expressed as full time equrvalents was as follows- 2021 No 2020 No Employees No employee received emoluments of more than £EQ,CIXI during the year. 9 Independent examlner's remuneratlon 2021 2020 Examination of the finanaal statements 600 10 Taxation The charity is a registered charity and is therefore exemm from taxation. Page 17
Southside Young Leaders Academv Note5 to the Financial Statements for the Year Ended 30 Aprll 2021 11 Tanglble fixed assels Motor ¥ehi¢les Computer equipment Total C05t At l May 2020 Additions iO.L 1.998 1,500 11,998 I,soo At 30 April 2021 10.0 3,498 13,498 Depredation At l May 2020 Charge for the year 666 1,166 3.666 1.166 At 30 April 2021 3,0 1,832 4,832 Net book value At 30 April 2021 1,666 8,666 At 30 April 2020 1,332 8.332 The charity had decided to sell the motor YehIe befoie the end of the financial year and V+Ere actively seeking IYerS. The vehide w35 sdd in August 2021. Page 18
Southside Young Leadews Academy Notes to the Flnanclal Statements for the Year Ended 30 April 2021 12 Debtors 2021 2020 Prepayment5 Accnjed income io,( 10,868 16.6(Kl 19,868 13 Creditors: am01$ lalling due within ¢)ne year 2021 2020 Trade creditors Other taxation and soaal security Other creditors Accruals 1,617 1.306 6,539 1,410 32,019 70 3.679 39,968 14 Pension and her Khemes Defined contribution pension stheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scherne and amounted to £3.060 12020 - £9061. Page 19
Southslde Young Leaders Academy Notes to the Financial Statements for the Year Ended 30 April 2021 IS Funds Balance * i May 2020 Incoming re50urce5 Reso¥rces expended Balance at 30 April 2021 Unrestrirted funds General 8.999 57.539 138,8871 27.651 Restdcled funds 99.224 184.069 1189,5341 93,759 Total funds 108,223 241.608 1228,4211 121.410 Balance at 30 ApTiI 2020 8alance at Incornin8 l May 2019 resources expended Tfansfers Vnre5tr•¢ted fvnds General 8,190 35.925 145.7091 10.594 Restrlrted lunds 62.420 172.362 1124,9651 110.5941 99.223 Total lunds 70.610 208,287 1170.674) 108,223 Page 20