Cornpany registration number- 06228171 Chèrrty re8iStrètion number: 1121717 Southside Young Leaders Academy IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 April 2022 HFL Accountants Limited Chartered Certified Accountants HFL House Saxon Way Melboufn Cambridgeshire SG8 60N •vz76)E* 25101r2023 COMPANIES HCAJSE A13
124 .
Southslde Young Leaders Academy Contents Reference and Administrative Details Trustees, Report 2to7 Independent Examiner's Report Statement of Financial Activities 9tolO Balance Sheet li Note5 to the Financial Statements 12to20
Southside Young Leaders Academy Report of the Trustees for the year ended 30 Aprll 2022 The trustees who are a150 dirertors of the charity for the purposes of the Companies Act 26. present their report with the financial statement5 of the tharity for the year ended 30 April 2022. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI Accounting and Reporting by Charities. issued in March 2005. REFERENCE AND ADMINISTrATIVE DETAILS Registered Company number 06228171 (England and Walesl Registered Charity number 1121717 Registered Office.. Ark Academy Walworth Shorncliffe Road London SEI 5UJ TRUSTEES: Winston Davis Annem3rieke Murthi Veronica de Schot Ofei Kwafo-Akoto Max Woodbridge Shaida Kwapong Samuel Osei-sarkodie Caren Onanda Ikenna Andrew Acholonu Esme Shirley Berrington Jason Obahiagbon David Rowe-Francis Alan McDougall Claire Martin Chairperson (appointed Chair in July 20201 Treasurer Iresigned September 2021) Treasurer (appointed July 20211 Secretary lappointed April 2019, resigned March 20221 Secretary lappointed July 2021, secretary March 20221 Appointed February 2020 Appointed February 2020 Appointed August 2020 Appointed July 2021 Appointed July 2021 Appointed July 2021 Resigned July 2021 Resigned July 2021 Resigned July 2021 INDEPENDENT EXAMINER HFL Accountants HFL House, I Saxon Way, Melbourn, Royston SG8 6DN BANK Lloyds Bank PIC Canary Wharf Branch Unit 3 Park Pavilion 40 Canada Square Canary Wharf London E14 5FW EXECLITIVE LEADERSHIP: Charlotte Prendergast CEO {January 20221 Page I
Southside Young Leadets Academy Report of the Tru5tee5 for the year ended 30 April 2022 STRucfuRE. GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT The charity is controlled by its Eoverning 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 2th)7 and registered as a charity on 28th November 2LK)7. The company was established under a Memorandum of Association which established the objects and polvers of the charitable company and is governed under its Articles 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 exceeding £1) and subject to any such resolution by the members, the Directors of the Charity may resolve that any net assets of the charity after all its debts and liabilities have been paid shall be applied or transferred in any of the following ways= lal directly 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. RECRUITMENT 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 formally approved by the other Board members, they will be invited to become Trustees. ORGANISATIONAL STRucfuRE The Southside Young Leaders Academy ISYLA) has a Board of Trustees who meet every 12 weeks and who are responsible for the strategic direction and policy of the charity. At the balance sheet date. the trustees consisted of nine members from a variety of professional background5 relevant to the work of the charity. The board welcomed a number of new trustees over the period, which included a new Treasurer and Company Secretary. Members of the Board of Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who sep4ed during the year12021-221 and up to the date of this report are set out on page l. SYLA recruited a new full-time Chief Executive, Chadotte Prendergast, in January 2022. Charlotte attends the quarterly board meetings to provide operational updates. though she has no voting rights. She also attends the Finance and the Fundraising Sub-committees which are chaired by trustees. and has acted as interim Chair of the Prograrnme Sub-committee (which has since been assumed by a trustee after the 30th April 20221. Pa8e 2
Southside Young Leaders A¢ademy Report of the Trustees for the year ended 30 April 2022 RISK MANAGEMENT The trustees have a duty to identify 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. The Board has a formal, written policy of internal financial control procedures which will continue to be monitored and updated to cover new risk areas as and when they are identified. Safeguarding the boys remains an utmost priority. OBJECTIVES 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 backgrounds. especially those at risk of exclusion from school. empowerin8 them to become p051tive active citizens and a new generation of business and community leaders. SYLA'S CORE VALUES ARE: Excellence & Aspiration Team Work & Sep4ice Evidence-Based Practice & Learning Transparency & Accountability STRATEGIC OBJEcnvES To support each boy, through needs assessment and activities levant to their transitional stages (such as counselling and mentoring and enhancement of the educational and leadership programmes). to identify and achieve their development Boals. and develop as a young leader: 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- To develop a knowledge base of what work5 in empowering boys to become youn8 leaders, to share good practice, and to identify and promote effertive education policies. GUIDANCE ON PUBLIC BENEFIT Trustees are aware of the Charity Commission guidance on this subject and confirm that they will read the POF documents contained on the Commission's website. Pa8e 3
Southside Young Leader5 Academy Report of the Trustees for the year ended 30 April 2022 ACHIEVEMENT AND PERFORMANCE OVERVIEW OF THE YEAR During 2021122. SYLA began to build back from the pandemic which had significantly impacted the boys and families we work with. Many of our boys had experienced isolation, had fallen behind with their learning and were becoming increasingly at risk of educational and social exclusion. Although we had been providing high-quality and accessible online services during lockdowns. our boys were desperate to retum to in-person provision to re-engage in positive artivities. regain their confidence. and reconnert with their peers and communities. After a year of digital delivery. in July 2021. we transitioned to a blended service of digital and in-person activities. Thiscoincided with ourmoveto Ark Walworth Academywhich is where our office is now based. The move to the new accommodation has provided much needed learnin and retreational space where our boys have a¢55 to state-of-the-art facilities which supports their learnin& safety and wellbeing. SYLA'S SeICe5 Beneficia numbers In the year to April 2022, 50 8-l&year-old boys and their families benefited from SYLA'S services. Thirty-three boys attended our Saturday Leadership Academy, and 17 boys were on our boarding school pro8ramme in partnership with Royal National Children's Springboard Foundation IRNCSFI. Thirty-seven place5 were filled across our three holiday programmes. Leadershi curriculum In July 2021, we delivered a Leadership and Enterprise summer holiday programme in partnership with Leap Confronting Conflict. This comprised 30 hours of in-per50n workshops and a 3-day residential trip at Hindle3p Warren Outdoor Activty Centre in Buckinghamshire. Twelve young people aged 13-16 participated in the course and were supported to engage in activities that tested their abilities in conflict resolution, teamwork and leadership. The pro8ramme provided a safe Space for our older boy5 during the school holidays, a time when they are more vulnerable to gang a55OCiation and is013tion from their peers and social networks. We successfully delivered a variety of busine55 enterprise and entrepreneurship programmes. We continued to deliver our Young Enterprise programme. under the National Lottery Thriving & Striving project. Our boy5 worked collaboratively to learn about the fundamentals of setting up a business. securing funds from an investor. and designing and taking a product to market, undertheguidance of è busine55 mentor. The groupgained business confidenceand knowledge that will increase their employability and enterprise skills for the future. Ten boys Participated in our 12-week online Young Entrepreneur course. delivered by David Okoro. an entrepreneur and business owner. to gain insight into the skills. knowledge and P48e 4
South5ide Young Leade AdefflY Report of the Tee$ for the year ended 30 April 2022 characteristics needed to become an entrepreneur. In partnership with Peabody, we supported our secondary cohort to participate in the Level 2 accredited Young Ambassador5 social action project. Exploring a practical form of leadership to identify and address a challenge in their community. the boys planned a podcast series to raise awareness to the issue of knife crime. They engaged community members, including a local filmmaker who had recently produced a documentary about youth violence and a Lambeth- based youth worker. who shared their in5ight5 on the causes and impact of knife crime on the community. After over a year of no sports provision owing to the pandemic, we reinstated our sports and leadership programme, delivered by Elite Evolution. This has been a vital outlet for our boys who had spent months homebound. often in overcrowded conditions with little or no outdoor space, resulting in a decline in some boys. physical and rnental health. The sports sessions helped to improve self-esteem, goal setting and leadership as well as rebuild bonds and connections that were lost during the pandemic. Staff reported a po&tive change in the boys, behaviour and engagement. To 5UPFrt our boys. self-worth and identity, also provided African cultural studie5 and Swahili language lessons, delivered by a volunteer graduate of the School of African and Oriental Studies. Academic Su We continued our partnership with Team Up to provide weekly online academic tuition to support 33 boys to develop confidence and capability in English. The small group sizes of up to three boys per tutor enabled intensive tutoring, tailored to the learning need5 of each boy. Over the course of the year, the boys became more confident in using new online learning tool5. Towards the end of the programme, attendance and engagement began to decline. Our boys fed back that they wanted to revert to in-per50n lessons for the following year because they missed interactions with their tutors. We reviewed this with Team Up and will be moving our programmes to irFperson delivery from September 2022. This year. we tested delivering our Maths provision at the Saturday Academy. separating the boys into two groups: Key Stage 2 and KS3 & 4, with one teacher per group. Engagement was high as the boys enjoyed the in-person interartions with the teachers, however, learning outcomes were inconsistent due to the mixing of ages and the demand on the teachers to teach different key stage ¢urriculurn5. We reviewed the delivery model and will be making changes to Maths tuition in 2022123. Boardin school bursaries We continued to strengthen our ongoing partnership with RNCSF to offer our boy5 the opportunity to experience a transformational educational experience at a boarding school on a full bursary. We supported our boarders with termly school visits. one-to-one mentoring, access to our leadership curriculum during exeat weekends. and places on our holiday programmes. Page 5
Southslde Young Leaders Academy Report of the Trustees for the year ended 30 April 2022 SYLA currently has a total of 17 boy5 at 11 boarding schools - an increase from 13 boys in the previous year. We are in the process of supporting a further four applicants to gain bursaf ies for boarding school place in the 2022123 academic year. SYLA TEAM In 2021. following the worst of the pandemic. we experienceil changes to our staff team. Our core team did a commendable job of adapting to the changes and ensuring our services were searnle551y delivered. Our Senior Programme Manager showed huge commitment in overseeing the planning and delivery of the leadership curriculum alongside coordinating our boarding school programme. Our Administrative Assistant stepped up to brilliantly support our online delivery. provide mentoring to our boarders, and act as our parent liaison to ensure parents were kept up to date on their son's participation and progress. Our board of trustees played an instrurnental role in supporting our back-end operations and contributing to our fundraising efforts. Our recently appointed CEO has brought further stability and leadership to the team. Despite operating with a smaller staff team for much of 2021122, we were still able to successfully deliver consistent, high-quality services in a safe and nurturing space that supported our boys to aspire. grow and achieve. As we plan to further develop our programmes and extend our reach to more boys in 2022123 and beyond. we also plan to increase our staff resources. We began a review ofthe roles needed to support our growth. This work will continue into 2022123. FIJTURE PLANS We are excited to move into 2022123 under the leadership of our new CEO and a refreshed board of trustees. SYLA is committed to remaining embedded in the communities we serve, to provide continuing support to vulnerable black boys and their families. We know that the pandemic has exacerbated existing racial, educational and economic inequalities which will take time to rebalance. SYLA is well placed to help rebuild communitie5 and level the playing field by supporting more black boys at risk of social and educational exclusion to thrive, make positive life choices and become active citizens. Summary of Aims and Objectives: Strate . - Set clearly defined goalsfor the growth and success of the chority. Our CEO has begun work on our new strategy which will be completed and launched in 2022123. Paee 6
5outh5ide Young Leaders Academy Report of the Trustees for the year ended 30 April 2022 We will hold a Board strategy day at the start of 2022123 to h3rne55 new idea5 to help set out our 5trate8ic vision for the next three years. Services.. - Maximise opportunitiesfor our boys ond theirfamilies. We will carry out a consultation with our key stskeholders to determine what our community wants from SYLA services. We will review our partnerships to ensure that our services meet the needs and interests of our boys. We will continue to develop our programmes in co-design with our boys and parents. Staff resources:_ Buildour stoff teom ond ensure policies andprocesses SUPPOrt recruitment ond retention. We will complete the review of our staffing strutture in line with SYLA'S services. We will review pay. conditions. and continuous professional development and training opportunities for staff. Governance: _ Ensure compliance with best practice in all areas of chority governonce. We will focus on the skills of the Board and ensure that the Board provides effective leadership in line with best practice. We will also review safeguarding training for Trustees. Financial sustainabili - Enstsre thefinonciol 5UStoinobility of the charity. We will review the financial performance of the charity and improve financial contro15. Systems and efficiency to manage costs. The annual report was approved bythe trustees of the charityon 2310112023 and signed on it5 behalf by Winston Davis Chairman and trustee Page 7
sOh5•de Young Leaders Academy Independent Examiner's Report to the trustees of Southside Young Leaders Atademy ("the Company") I report to the charity trustees on rny examination of the accounts of the Company for the year ended 30 April 2022. Responsibilities and basis of report As the charity's trustees of the Company land also its dirertors for the purposes of company lawl you are Sponsible for the preparation of the accounts in accordance with the requirements of the Companies Ad 261'the 2ts)6 Acl'l. Having satisfied myself that the accounts of 5outhside Young Leaders Academy are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatKJn. I report in respect of my examination of your charItS accounts as carried out under section 145 of the Charities Act 20111'the 2011 Arfl. In carrying out my examination I have folkjwed the Direction5 given by the Charity Commission under section 1451511bl of the 2011 Art. Independent examlnerfs statement 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. accountin8 records were not kept in respect of Southside Young Leaders Academy as required by section 386 of the 2006 Act: or 2. the accounts do not accord with those records: or 3. the accounts do not compty with the accounting reqU1MentS of sertion 396 of the 2006 Act other than any requirement that the accounts give a 'true artd fair view. which is not a matter considered a5 part of an independent examination: or 4. the accounts have not been prepared in accordance with the method5 and principles of the Statemenl of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Flnancial RewrtingStandard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in conne10n with the examination to whith attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tracey Nich CCA Association of Chartered Certified Accountant5 HFL House I Saxon Way Melbourn Cambridgeshire SG8 6DN Page 8
Southside Young Leaders Academy ststement of Financial A¢tivities for the Year Ended 30 April 2022 (In¢luding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) UnrestTiCted Restri¢ted funds Totsl 2022 Income and Endowments from: Donations and legacaes Investment inwme Other income 12.960 142.127 155.087 9.389 9,389 Total in¢ome 22.351 142.127 164.478 Expenditure on: Charitable actiwties (4.6401 (146,163) (150.8031 Total expenditure {4.6401 {146,163) {150,8031 Net incomel{expenditurel 17.711 14.036 13,675 Net movement in funds 17.711 14,036) 13,675 Reconelllation of funds Total funds brought fonvard Total fund5 carried for0rd 27.651 93.759 121,410 15 45.362 Unrestricted fvnds 89.723 Restricted funds 135.085 Total 2021 Note Iorne and Endonents from: Donations and legacies Investment income 57,532 184,069 241,601 Total in¢<>me 57.539 184,069 241,608 Expenditure on.. Charilable activities 38,88 {189,534) 1228.421 Total expenditure 138,887) 1189,534) 1228.4211 Net incomellexpenditure) 18.652 {5.4651 13.187 Net movement in funds 18.652 {5,4651 13,187 Reconcliation of ndS Total funds brought forward 8.999 99.224 108.223 Total fvnds carried forward 15 27,651 93,759 121,410 The notes on pages 12 to 20 form an integral part of these financial slatements. Page 9
Southside Young Leade Academy ststement of Flnanelal Actlvities for the Year Ended 30 April 2022 (Including Income and Expenditure AcGounl and Statement of Total Recognised Gains and Losso$} All of the charity's activities derive from ¢ontinuing ¢¥erations during the atKJve two periods. The funds breakdown for 2021 is sh¢ywn in note 15. The note5 on pa9es 12 to 20 fomi an integral part of these financial slatemenls. Page 10
Southside Young Leaders Academy (Registration number: 06228171) Balan¢e Sheet as at 30 April 2022 2022 2021 Not• Flxed asset5 Tangible assets 11 1.116 8.666 Current assets Debtors Cash at bank and in hand 12 6,141 133.172 16,600 99,823 139.313 116.423 Credlt¢)vs: Amounts falling due *lthln one year 13 15,344) 13,679) Nel ¢urrent assets 133,969 112,744 Nel a$sets 135.085 121,410 Funds of the tharity: Restricted income fund5 Restricted funds 89.723 93,759 Unrestricted income fund5 unreStrted funds 45.362 27.651 Total fun(ts 15 135.085 121,410 For the finanrial year ending 30 April 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 20 relating to small ¢tYnpanies. Dire¢lors' responsibilities-. The members have not required the charity to obtain an audit of its accounts for the year in question in acwrdance with section 476." and The directors a(nthedge their responsibAities for (nplyIng with the requirements of the Act with respect toaccounting recoids and the preparation of aco)unts. The financial statements on page5 9 to 20 approved by the trustees. and authorised for issue on 2310112023 and sned on their behalf by.. Winston Davis Chairman and trustee The notes on pages 12 to 20 forni w integral part of these financial statements. Page11
Southside Young Leaders Academy Notes to the Financial Statements for the Year Ended 30 April 2022 1 Charity ststs The tharity is limited by guarantee. incorporated in England and Wales. and ¢onsequentty does not have share capital. Each of the trustees is liable to (y)ntribute arnount not exceeding £1 lowards the assets of Ihe charity in the event of liquidation. The address of its registered office is.. Ark Academy Walworth Shorncliffe Road London SE15UJ 2 A¢¢¢)unting poli¢i•s Summary of significant accounting policies and key accountlng estlmates The principal accounting policies applied in the preparation of these finanaal stalements are set out below. These pjliaes have been nsIstenI applied to all the years presented. unless otherwise 5tsted. statemenl of ¢omplian¢e The financial slalements have been prepared in accordan with Accounting and Reporting ty Charities.. Statement of Recommended Practice lapplirable to charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 (issued in October 2019) - (Charities SORP IFRS 102}l. the Finanual Reporting Standard applicable in the UK and Republicof Ireland IFRS 1021 and the Companies Act 2006. Basis of preparation Southside Young Leaders Academy meets the definition of a public benefit entity under FRS 102. Assets and liabililies are initially recognised at historical cost or transaction value Unle otherwise stated in the relevant accounting poliw notes. Golfig concern The trustees ojnsider that the are no material unrtainte$ atoul charity's ability to SntinUe as a going concern nor any signtfi(3nt areas of unortainty that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow ststem•nt The charity opted lo early adopt Bulletin 1 published on 2 February 2016 and have therefore not Iluded a $h flow Statennt in these financial staterrents. Page 12
Southside Young Leader5 Academy Notes to the Financial Slatements for the Year Ended 30 April 2022 Income and endOWents All inwme is re¢£43nised once Ihe tharity has entitlement to the income. it Ès probable that the income will be received and the anKsunt of the inwme receivable can be measured reliably. Donations and legacie$ Donations are rewgnised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity 15 entitled to the funds, the income is deferred and not recognised until either those conditM)ns are fulty met. or the fulfilment of those conditions is wffiolty within the control of the charily and it i% probable that these CAJnditions will be fulfilled in the reporting period. Investment income Interest on funds held on deposit is induded when receivable and the armunt can be measured reliably by the chaiity.. thi5 is normally Up notification of the interest paid or payable by the bank. Expendire l expenditure is re¢ognised there is a legal or Constrte obligation to that expenditure, it ts probable settlement is required and Ihe amwnt can be measured reliabty. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo thal category. Where costs ¢annot be directly attributed to particular headings they have been lOcated on a basis o)nsistent with the use of resources, wth central staff costs allocated on the basts of time spent, and depreciation charges allocated on the portion of the asset's use. Other support cos1$ are alknated based on the spread of staff cos Charitable a¢tivities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and seN1$ for its benefi¢i3r*s. It indudes both c(Jsts that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governan¢e ¢osts These indude the costs attributable to the charity's compliance with constitutM)nal and statulory requirements. induding alTrt. strategic management and trustees's meetings and reimbursed expenses. Taxalion The charity is considered to pa55 the tests set out in Paragraph 1 Schedule 6 of the Finan kt 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. A¢(xJrdingly, the charity is potentialty exempt from taxation in respect of ino)me or capital gains received within categories covered by Chapter 3 Part 11 of the CorpOratn Tax Act 2010 or Se¢lion 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exdusively to charilable purposes. Page13
Southside Young Leaders Academy Notes to the Financial Statements for the Year Endod 30 April 2022 Tangible fixed assets Individual fixed assets Costing £300.IXt or rn0 a initially rerded at cost, le any subsequent acmlated depreciation and subsequent accumulaled impairment10sse5. Depreciation and amortisallon Depreciation is provided on tangible red assets so as to Write off the cost or valuation. less any estimated residud value. over their expected usefvl econoffc lrfe as followE." Assetclass Motor Vehicles Computef and OffKe Equipment Oepreeiation method and rate 25Y• on a redu(yng balance 3 years on cost Trnde debt¢rs Trade debtors are amounts due from StomerS for rr*rthandise sold 01 services performed in the ordinary course of bu5ines5. Trade debtors are reojgnised initialfy at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impairment. A provision for the impairmenl of trade debtors is established wthen there is objective evidence that the charity will not be able to collect all amounts due acc4)rding to the original temis of the rl¥able5. Cash and cash ewivalents Cash and cash equivalents comprise cash on hand and call deposits. aThl other short-term highly liquid investments that are readily o)nvertible to a known amount of and a subject to an insignificant risk of change in value. Trnde ¢reditors Trade creditors are obligations to pay for g>)ds or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are rjassified as current liabilities if the tharity dces not have an unconditional right. at the end of the reporting peri(MJ. to defer selllement of the ¢reditor for at least twelve nTh)nths after Ihe reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are iecc8nised initialty at the transaction pn and subsequently measured at amortised cclst using the effective interest meth. Fund structure Unrestricled InMe funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the tharity. Page 14
Southside Young Leaders Academy Notes to the Finan¢lal Ststements for the Year Ended 30 April 2022 Restricted income funds are th donated for use in a partKular area or for specifK purposes. thè use of which is restricted to that area or purpose. Pensions and other post tIrement obligations The charity operates a defined ccfitribulion pensron stheme which is a pension plan under vthich fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund doe5 not hold suffiuent assets to pay all employees the benefits relaling to employee service in the current and prior periods. Contributions to defined contribulim plans are recJ)gnised in the Statement of Financial Activities when they are due. If contribution payments exceed the conttibution due for service. the eXS is re¢ognised as a prepayment. 3 Income from d(xwtions and leyades ithrestricted fvnds General Restricted Total Donations and legacies; Donations from companies. trusts and Similar proceeds Donations from individuals 1,979 10.981 142,127 144,106 10,981 Total for 2022 12,960 142,127 155,087 Total for 2021 57.532 184,069 241,601 4 Olher inwne Unrestrfcted lund$ General Totsl fvnd$ Gains on sale of tangible fixed assets for charity's own use 9.389 9,389 Total for 2022 9,389 9.389 Page 15
Southside Young Leadets Academy Notes to the Flnanclal Statements for the Year Ended 30 April 2022 S Expenthturn On charitable a¢tivit5es iknrestricted funds GeneAI Restricted funds Total Note Charitable actrvities Staff costs Governance costs 3.778 22,529 114.030 9,604 26.307 114,892 9.604 Totsl for 2022 4.640 146.163 150,803 Totsl for 2021 38.887 189.534 228,421 Totsl expenditure 6 Anaty$is of goveman¢e and Support ¢osts Govemance Costs Restricted funds Total funds Independent examiner fees Examination of the financiai statements Legal fees Other govemanca ¢05ts 600 2,404 6,600 2.404 6.6C(J Total for 2022 9.604 9.604 Total for 2021 7.200 7,200 7 TN$tees remunernll¢n and expen No trustees. r[ any persons connected with them, have received any remuneralion from the ¢harity during the year. P*Je 16
Southside Young Leadets A¢ademy Notes to the Financial Statements for the Year Ended 30 April 2022 8 Staff costs The aggregale payroll c05tswere as folkws: 2022 2021 Staff costs during the yearre. Wages and salaries Social security Costs Pension costs Other staff ¢>)sl$ 9),112 4,032 2,160 18.588 114,908 5.842 3,059 17.242 114,892 141,051 The monlhly average number of persons linduding senr management I leadership team) emF4oyed by Ihe tharity during the year expressed as full time equrvalenls vtss as follov•ts: 2022 2021 Employees No employee [l¥ed emoluments of more than £60.000 during the year. 9 Inthp¢nd¢nt examinerfs remunernti 2022 2021 Examination of the financial statements 600 600 10 Taxation The tharity is a registered charity and 15 therefore exempt from taxation. Page17
South$lde Young Leaders Academy Not¢$ to the Finan¢lal Statements for the Year Ended 30 April 2022 11 TangibIefed assets Motor vehlcles Computer equipment Totsl Cost At 1 May2021 Additions Disposals 10.000 3.498 924 13.498 924 {10.C(IO) 110.0001 At 30 April 2022 4.422 4.422 Depreeiafjon At 1 May2021 Charge for the year Eliminated on disposals 1.832 1.474 4.832 1.474 13,000 13.000) At 30 Apiil 2022 3.3(6 3.306 Net book value AI 30 April 2022 1,116 1.116 At 30 April 2021 7.000 1.666 8,666 12 Debtors 2022 2021 Prepayments Accrued income 6.141 6,600 10.000 6.141 16,600 13 Credltor5: am¢yJnts falliTrJ due withln one year 2022 2021 Trade creditors Other taxation and swal sewrity Other creditors Ac¢rLtrals 2.411 2.253 1.617 1,306 686 70 3.679 Page18
Southside Young Leaders A¢ademy Note$ to the Financial Statements ft>r the Year Ended 30 Aprfl 2022 14 Perrsion and otherschemes Defined Contribution pension scherne The charity operates a defined contribution pen%on s¢heff. The pension LY6t charge for the year represents LXntribution$ payable by the ¢harity to the s¢heme and amounted lo £2,16012021 £3,IAO). Page 19
Southside Young Leadèrs Academy Note$ to the Financial Statements for the Year Ended 30 April 2022 16 Fun(ts Balan¢e at 1 May 2021 ¢omiNJ res¢)urces Resources Balance at 30 expwthd April 2022 Unrestrlcted fund5 General 27.651 22.351 (4,640) 45.362 Restricted funds 93.759 142.127 {146.1631 89,723 Total funds 121.410 164.478 (150,803 135,085 Balae at I May 2020 Incomin9 Resources Balance at 30 April 2021 Unrestricted funds General 8,999 57,539 (38.8871 27.651 Restricted funds 99.224 184.C69 1189.5341 93.759 Total f4mds 108.223 241.608 228.421 121,410 Page 20