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2023-08-31-accounts

Company registration number: 06228171 Charity registration number: 1121717

Southside Young Leaders Academy

(A company limited by guarantee)

Annual Report and Financial Statements for the Period ended 31 August 2023

HFL Accountants Limited Chartered Certified Accountants HFL House Saxon Way Melbourn Cambridgeshire SG8 6DN

Southside Young Leaders Academy

Contents

Contents
Reference and Administrative Details 1
Trustees' Report 2 to 9
Statement of Trustees’ Responsibilities 10
Independent Examiner's Report 11
Statement of Financial Activities 12-13
Balance Sheet 14
Notes to the Financial Statements 15-21

Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period ended 31 August 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 06228171 (England and Wales) Registered Charity number 1121717 Registered Office: Ark Academy Walworth Shorncliffe Road London SE1 5UJ

TRUSTEES:

Winston Davis Chairperson appointed April 2019 Veronica Johnstone Treasurer appointed July 2021 Max Woodbridge Secretary appointed July 2021 Caren Onanda Appointed August 2020 Samuel Osei-Sarkodie Appointed February 2020 Valentina Nnennaya Okoro Appointed May 2023 Ikenna Andrew Acholonu Resigned May 2024 Shaida Kwapong Resigned May 2023 Esme Shirley Berrington Resigned May 2023 Jason Obahiagbon Resigned May 2024 Timothy Oladineji Resigned May 2024

INDEPENDENT EXAMINER

BANK

HFL Accountants Lloyds Bank Plc HFL House, Canary Wharf Branch 1 Saxon Way, Unit 3 Park Pavilion Melbourn, 40 Canada Square Royston Canary Wharf SG8 6DN London E14 5FW

EXECUTIVE LEADERSHIP:

Charlotte Prendergast CEO

Page 1

Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The charity is controlled by its governing 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 2007. The company was established under a Memorandum of Association which established the objects and powers 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:

(a) directly for the Objects; or

(b) by transfer to any other Charity or Charities for purposes similar to the Objects; or

(c) 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 STRUCTURE

The Southside Young Leaders Academy (SYLA) 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 backgrounds 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 served during the year (2021-22) and up to the date of this report are set out on page 1.

SYLA recruited a new full-time Chief Executive, Charlotte Prendergast, in January 2022. Charlotte attends the quarterly board meetings to provide operational updates, though she has no voting rights.

Page 2

Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

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, empowering them to become positive active citizens and a new generation of business and community leaders.

SYLA’S CORE VALUES ARE:

STRATEGIC OBJECTIVES

  1. 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 programmes), 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 PUBLIC BENEFIT

Trustees are aware of the Charity Commission guidance on this subject and confirm that they will read the PDF documents contained on the Commission’s website.

Page 3

Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

ACHIEVEMENT AND PERFORMANCE

OVERVIEW OF THE YEAR

Black African and Caribbean boys continue to face multiple disadvantage that impacts their educational and life outcomes. School exclusions remain disproportionally high for Black boys, and they continue to be overrepresented as victims of crime. Our beneficiaries come from families often experiencing poverty, poor physical or mental health, immigration problems, insecure housing, and over-crowded living conditions. Over 80% of our participants are in receipt of free school meals or are from low-income households. Ten percent of boys have a special educational need or a disability.

Over the past year, against the backdrop of the cost-of-living crisis and the lasting impact of the pandemic on the communities we service, SYLA continued to address social and educational inequalities. SYLA supported Black boys and their families residing in the boroughs of Southwark and Lambeth to build selfconfidence, improve wellbeing, and connect with their communities which helped them to have a sense of purpose, belonging and raised aspirations. We achieved this through our flagship Young Leaders Programme, and three subsidiary programmes: Scholars, Parents and Alumni programmes.

Beneficiary numbers

In the year to August 2023, 67 boys and their families benefited from our services: forty-five 8–16-year-olds boys attended our Young Leaders Programme, 18 boys aged 11-18 were on our Scholars Programme, and four SYLA alumni, aged 16-21, benefited from our new Young Ambassador Alumni Programme. We reached 32 parents through a range of engagement activities designed to help them support their sons successfully and safely transition into manhood.

In total, 103 unique participants directly benefited from SYLA’s services.

SYLA’S PROGRAMMES

Continuation Projects

Character Development and Conflict Management

In our second year partnering with Leap Confronting Conflict, between September and October 2022, we delivered a 6-week Leadership and Enterprise programme with 12 boys aged 13–16. The workshops provided a safe space for our boys to openly discuss issues that affect them including their vulnerability to gang association and peer pressure. The programme culminated in a 3-day residential to Hindleap Warren Outdoor Centre in Surrey where our young leaders participated in a range of conflict management, character building, and leadership activities.

At the end of the project, all SYLA staff, including management, participated in Leap training to learn strategies to continue to support boys to regulate their behaviour, desist confrontation, and act as positive role models to their peers.

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Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

English & Maths Tuition

We continued our partnership with Team Up to provide weekly academic tuition to 45 boys, Team Up works with young people across London to help raise aspirations and support them to progress within their Maths and English abilities. The small group sizes of up to three boys per tutor enabled intensive tutoring, tailored to the learning needs of each boy.

Leadership Through Sports

We offered weekly sports sessions to 45 boys to develop character, teamwork, and communication, and to improve health and wellbeing. We delivered a different sport each half-term including football, basketball, hockey, table tennis, boxing and team building through physical activities.

Scholars Programme: Boarding School Bursaries

We continued to strengthen our ongoing partnership with Royal National Springboard Foundation to offer our boys the opportunity to experience a transformational education at a state or independent boarding school on a full bursary. SYLA supported a total of 18 boys on our boarding school programme with termly school visits, one-to-one mentoring, access to our leadership curriculum during exeat weekends, and places on our holiday programmes.

New Projects

This was a year of innovation, where we piloted several new projects which we plan to embed into the core offering of our flagship Young Leaders Programme and subsidiary programmes.

Enterprising Leaders

In April 2023, we piloted a 1-week Dragon’s Den themed Easter holiday project, and in July 2023, we ran a new 1-week summer holiday project themed The Apprentice. On both projects, boys participated in workshops delivered by real entrepreneurs to learn how to develop a business idea, brand and market a product, and pitch to investors. Our boys presented their business proposals to a panel of entrepreneurs at the end of each project and received professional feedback.

Thirty-seven places were filled on these entrepreneurship projects.

Let’s Talk Money: Financial Literacy

To complement our Enterprising Leaders projects, we piloted an 8-week financial literacy project. Delivered by a portfolio analyst in a global investment management firm and founder of Let’s Talk Money, our boys learnt about the fundamentals of financial planning and investing for generation wealth. By the end of the project, our young leaders gained a solid foundation in financial literacy. We plan to roll this out as a longer programme next year.

Page 5

Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

Black Leaders Studies

To support our participants to develop leadership characteristics, we devised and delivered a new Black Leaders curriculum for our younger cohorts. Twenty-eight boys aged 8-11 participated in 34 weekly sessions to learn about prominent Black leaders to help them cultivate their own leadership skills.

Careers Awareness

In May 2022 we held our first annual Careers Day to raise our young leaders’ awareness to a range of career options and pathways. Both primary and secondary boys participated in employability skills workshops and met professionals from a range of industries, from construction to film making. We plan to build on the success of this event and invite corporate partners to deliver talks and workshops on employability skills and career pathways.

Activating Youth Voice

To support our boys to develop confidence in public speaking and presenting, we delivered a 3-week taster in public speaking and debating in partnership with the English-Speaking Union. Over the three weeks, our boys were introduced to techniques in reasoning and evidence, active listening and response, expression and delivery, and how to organise a thoughtful argument.

In 2023-24, we plan to hold a debating competition with Lewisham Young Leaders Academy to bring young people together from other Young Leaders Academies to constructively debate issues that matter to them.

Online Mentoring

We piloted online mentoring sessions, over 12 weeks, to provide a supportive space for our young leaders to connect with their mentors and peers, discuss issues that arise through the week, acknowledge their accomplishments, and set weekly goals. We plan to roll this out as a year-long programme next year.

Young Ambassadors Alumni Programme

We introduced the first phase of our SYLA Alumni Young Ambassador Programme to provide opportunities for boys that have successfully progressed through our Young Leaders Programme. We launched our first ever SYLA internship programme in September 2022, recruiting an alumnus to intern as Leadership Mentor on our Young Leaders Programme. We also recruited and trained a further two SYLA alumni, both in their first year at university, to work as mentors for boys on our Scholars Programme.

Parent Programme

Led by our new Community Engagement Lead, we launched a pilot Parent Programme to upskill, support and empower our parents to make positive changes for themselves and to support their sons to successfully transition through their education and into adulthood.

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Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

We delivered workshops in:

We also delivered drop-in coffee mornings every six weeks to foster cohesion and strengthen relationships among our parent community.

In July 2023, we empowered our parent community to plan and lead their own community event. Working together, parents organised a sponsored walk in Burgess Park to strengthen community relationships, build awareness of SYLA, and raise funds for our charity. They raised over £3000 which contributed to additional enrichment activities for our boys. Around 60 people attended the event.

In response to the current cost of living crisis, SYLA coordinated a Community Giveback initiative to support the families we work with. In December 2022, we provided 22 families with an essential food hamper and children’s gifts for the Christmas period. Through our local networks and social media channels, we recruited 10 volunteers from the local community to deliver the hampers.

OUR IMPACT

In September 2022, we developed a new Theory of Change and used this to develop a framework to measure the impact of our Young Leaders Programme. We gathered data using a range of methods including questionnaires, baseline assessments, parent surveys and telephone consultations, staff observations, and case studies of our current and former young leaders.

Some of the differences we made include:

Developing leadership and life skills

90% of young leaders said their teamwork and collaboration skills have improved.

85% said their public speaking abilities have improved.

80% said they can now apply financial knowledge and skills in real-life scenarios.

“SYLA has helped me with subjects and financial matters. ” – young leader

Building character and reducing youth violence

75% of our young leaders said their confidence has increased.

80% said they have learnt how to make better choices in difficult situations.

75% said they have become a positive role model to their peers.

“SYLA has helped me balance my life, it showed me how to control my actions and listen to other people”. – young leader

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Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

Raising aspirations and improving academic achievement

83% of our young leaders met or exceeded their progress targets in English and maths.

95% said attending SYLA is helping them to make better progress at school.

“SYLA has helped me improve my math grades greatly. Before SYLA, I was struggling with math, but now I'm top three in my year group”. – young leader

One participant that completed both our Young Leaders and Scholars Programmes, became SYLA’s first ever intern in 2022 on our Young Ambassadors Alumni Programme.

“I have been with SYLA for eight years. Through my ranks at SYLA, I have learnt a lot about myself and about life. Being part of such an amazing organisation has taught me how others can positively affect your life and how that can propel you to new levels and among big names. One thing I’ve been brought up to believe is the importance of giving back. Without SYLA’s help I wouldn’t be in the great position I am in today - achieving things I never thought I would ten years ago. Therefore, I have chosen to come back to work for SYLA on their Internship Programme to give back the support that I received.

A quote from a parent –

“Before my sons joined SYLA, I was looking for an organisa•on that would assist me in boos•ng their con•dence, improving their academics in school, and keeping them busy from distrac•ons in my neighbourhood. I wasn’t sure if I’d be able to get all these services from one organisa•on, but as •me passes, I can con•dently say that SYLA was the best op•on for my sons. This is because SYLA has met all my ini•al goals and added valve to my sons’ lives by broadening their horizons and developing their leadership skills.”

FUTURE PLANS

We know that the learning lost during the pandemic widened the attainment gap, and the current cost of living crisis continues to exacerbate educational and social inequalities experienced by Black boys and their families. School exclusions remain high. SYLA’s services continue to respond to these challenges by giving opportunities to boys through academic support, character building, and leadership and life skills training.

In 2023-24 we will:

Pilot a partner school referral model

We will pilot a referral model with at least one local primary school with the aim to engage boys from the age of eight as an early intervention measure. We know that early intervention results in better participant retention and engagement in SYLA’s services.

Engage the local authority

We will leverage newly formed relationships with our local authority, including the Mayor of Southwark to forge closer links with schools, community organisations, and local services that can support SYLA to deliver our services.

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Southside Young Leaders Academy

Report of the Trustees for the period ended 31 August 2023

Build SYLA’s reputation in the community

We will embed host an Open Day and parent-led Community Day to further raise the profile of our organisation in the community, increase our reach, and strengthen our networks.

Strengthen partnerships

We will continue to strengthen our key partnerships, namely: Leap Confronting Conflict, Team Up, Young Enterprise, Elite Evolution, and Young Enterprise. We will explore strategies to sustainably embed services and practices into our core offer.

Create a pipeline of mentors

We will build our alumni programme so that we can create a pipeline of positive role models that we can employ as mentors to work on our Young Leaders and Scholars Programmes.

Measure long term outcomes

We will develop a system to monitor the longer-term impacts of our programmes by tracking our participants’ progression and destinations into further education and training, employment, and civic life. We will do this through our new alumni engagement strategy.

Financial Review

Policy on reserves

The trustees have examined the charity’s requirements in the light of the main risks to the organisation. It has established a policy whereby unrestricted funds held by the charity should cover operating costs for three months. The present level of reserves is adequate to cover anticipated operating costs. The trustees will regularly review this policy.

Going concern

The Trustees consider that there are no uncertainties about the charity’s ability to continue for the future.

We will review the financial performance of the charity and improve financial controls, systems and efficiency to manage costs.

28th May 2024 The annual report was approved by the trustees of the charity on ……………………………………………… and signed on its behalf by

……………………………………………………. Winston Davis Chair and trustee

Page 9

Southside Young Leaders Academy

Statement of Trustees’ responsibilities

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006 are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The report and accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve financial statements unless they are satisfied that they give a true and fair view of the state of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing their financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

28th May 2024 Approved by the trustees of the charity on ……………………………………………… and signed on its behalf by

…………………………………………………….

Winston Davis Chair and trustee

Page 10

Southslde Young Leaders Academy Independent Examiner's Report to the trustees of South51de Young Leaders Academy ("the Company") I report to the charity trustees on my examination of the accounts of the Company for the period ended 31 Au8USt 2023. Responslbllltles and basls of report As the charity'5 trustees of the Company land also Its dlrectors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requlrements of the Companles Act 20061.the 2006 Act'l. Having sètlsfled myself that the accounts of South5ide Young Leaders Academy are not requlred to be udited under Part 16 of the 2006 Act and ère eligible for Independent examination. I report In respect of my examinatlon of your charity's accounts as carried out under secllon 145 of the Charltie5 Act 20111'the 2011 Act'l. In carryin8 Out my exambnatlon I have followed the Directions glven by the Charlly Commlsslon under section 14515llbl of the 2011 Act. Independent ex•mlnerfs statement I have completed my ex8mlnatlon. I conflrm that no matters have come to my attentlon In connectlon wlth the examlnation glvlng me cause to believe.. l. accountln8 records were not kept In respect of Souihslde Young Leaders Academy as requlred by sectlon 386 of the 2006 Act; or 2. the accounts do not atcord wlth those records.. or 3. the accounts do not comply wlth the accountlng requlrements of section 396 of the 2¢X)6 Act other than any requlrement that the account5 give a 'true and falr vSew' which Is not a matter consldere(i a5 part of an independent examlnatlon,. or 4. the accounts have not been prepared in accordance wlth the methods and prlnclples of the Statement of Recommended Practlce for accountlng and reportln8 by charitles lapplScable to charlties preparln8 their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republlc ol Ireland IFRS 10211. I have no concerns and have come across no other matters in connectlon with the examlnation to whlch attentlon should be drawn in thi5 report Sn order to enable a proper understanding of the accounts to be reached. Tracey Ni FCCA Asso¢iatlon of Chartered Certlfled Accountant5 HFL House 1 Saxon Wav Melbourn Cambrldgeshire SG8 6DN Date.. Page 11

Southside Young Leaders Academy

Statement of Financial Activities for the period ended 31 August 2023

(including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Investment income
Other income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income / (expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
£
49,841
92
8,948
58,881
(26,438)
(26,438)
32,443
32,443
45,362
77,805		 Restricted
funds
£
137,612
-
-
137,612
(226,758)
(226,758)
(89,146)
(89,146)
89,723
577		 Total
2023
£
187,453
92
8,948
196,493
(253,196)
(253,196)
(56,703)
(56,703)
135,085
78,382

The notes on pages 15 to 21 form an integral part of these financial statements. Page 12

Southside Young Leaders Academy

Statement of Financial Activities for the period ended 31 August 2023

(including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Investment income
Other income
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income / (expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
£
12,960
2
9,389
22,351
(4,640)
(4,640)
17,711
17,711
27,651
45,362		 Restricted
funds
£
142,127
-
-
142,127
(146,163)
(146,163)
(4,036)
(4,036)
93,759
89,723		 Total
2022
£
155,087
2
9,389
164,478
(150,803)
(150,803)
13,675
13,675
121,410
135,085

All of the charity’s activities derive from continuing operations during the above two periods.

The funds breakdown is shown in note 15

The notes on pages 15 to 21 form an integral part of these financial statements. Page 13

Southside Young Leaders Academy

(Registration number : 06228171)

Balance Sheet as at 31 August 2023)

2023 2022
Note £ £
Fixed assets
Tangible Assets 11 204 1,116
Current assets
Debtors 12 - 6,141
Cash at bank and in hand 128,167 133,172
128,167 139,313
Creditors: Amounts falling due within one year 13 (49,989) (5,344)
Net current assets 78,178 133,969
Net assets 78,382 135,085
Funds of the charity:
Restricted income funds
Restricted funds 77,805 89,723
Unrestricted income funds
Unrestricted funds 577 45,362
Total funds 15 78,382 135,085

For the financial period ending 31 August 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements on pages 12 to 21 were approved by the trustees and authorised for issue and signed on their behalf by:

Winston Davis Chair and Trustee

28th May 2024

Date: …………………………………………………………………………

The notes on pages 15 to 21 form an integral part of these financial statements. Page 14

Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

1 Charity Status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute and amount not exceeding £1 towards the assets of the charity in the event of liquidation.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Southside Young Leaders Academy meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern not any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of the income can be measured reliably.

Donations and legacies

Donations are recognised 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 is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregates 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 the resources, 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.

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Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them.

Governance costs

Thes include the costs attributable to the charity’s compliance with the constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 of Schedule 6 of the Finance Act 2010 and meets the definition of a charitable company for UK corporation tax purposes. Therefore, 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 Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £300 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Computer and office equipment 3 years on cost

Trade Debtors

Trade debtors are amounts due from donors. They are initially recognised at transaction price. A provision for the impairment of trade debtors is established where there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and subject to an insignificant risk of change in value.

Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity 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. 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 recognised initially at the transaction price and subsequently measured at the amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furthering the objectives of the charity.

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.

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Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

Pension and other post retirement obligations

The charity operates a defined contribution pension scheme which 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 if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 Income from donations and legacies

Donations and legacies
Donations from companies, trusts and similar
Donations from individuals
Total for 2023
Total for 2022
Other income
Employment allowance
Total for 2023
Total for 2022		 Unrestricted
Funds
£
34,000
15,841
49,841
12,960
Unrestricted
Funds
£
8,948
8,948
9,389		 Restricted
funds
£
137,612
-
137,612
142,127
Restricted
funds
£
-
-
-		 Total
funds
£
171,612
15,841
187,453
155,087
Total
funds
£
8,948
8,948
9,389

4 Other income

Page 17

Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

5 Expenditure on charitable activities

Charitable activities
Staff costs
Governance costs
Total for 2023
Total for 2022
6 Analysis of governance and support costs
Independent examiner fees
Legal fees
Other governance costs
Total for 2022		 Unrestricted
Funds
£
3,642
22,196
600
26,438
4,640
Unrestricted
Funds
£
-
600
-
600
-		 Restricted
funds
£
27,731
186,028
12,999
226,758
146,163
Restricted
funds
£
800
3,399
8,800
12,999
9,604		 Total
funds
£
31,373
208,224
13,599
253,196
150,803
Total
funds
£
800
3,999
8,800
13,599
9,604

7 Trustee remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

Page 18

Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

8 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2023
2022
£
£
165,906
90,112
15,878
4,032
4,122
2,160
22,318
18,588
208,224
114,892

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year as full time equivalents was as follows:

Employees
No employees received emoluments of more than £60,000 during the year.
9 Independent examiner’s remuneration
Examination of financial statements
10 Taxation		 2023
No
5
2023
£
800		 2022
No
5
2022
£
600

The charity is a registered charity and is therefore exempt from taxation

Page 19

Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

11 Tangible fixed assets

Cost
As at 1 May 2022
As at 31 August 2023
Depreciation
As at 1 May 2022
Charge for year
As at 31 August 2023
Net book value
At 30 April 2022
At 31 August 2023
12 Debtors
Prepayments
13 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Computer
Equipment
£
4,422
4,422
3,306
912
4,218
1,116
204
2023
£
-
2023
£
-
2,491
1,125
46,373
49,989		 Total
£
4,422
4,422
3,306
912
4,218
1,116
204
2022
£
6,141
2022
£
2,411
2,253
680
-
5,344

Page 20

Southside Young Leaders Academy

Notes to the Financial Statements for the period ended 31 August 2023

14 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,122 (2022: £2,160).

15 Funds

Unrestricted funds
General
Restricted funds
Total funds
Unrestricted funds
General
Restricted funds
Total funds		 Balance
at
1 May
2022
45,362
89,723
135,085
Balance
at
1 May
2021
27,651
93,759
121,410		 Incoming
Resources
58,881
137,612
196,493
Incoming
Resources
22,351
142,127
164,478		 Resources
expended
(26,438)
(226,758)
(253,196)
Resources
expended
(4,640)
(146,163)
(150,803)		 Balance at
31 August
2023
77,805
577
78,382
Balance at
30 April
2022
45,362
89,723
135,085

Page 21