Independent Academic Research Studies International Institute Working name: Sculpt A non-profit company limited by guarantee: No 05348191 Registered Charity: No 1124590 Financial Statements and Trustees. Report for the year ended 31 March 2024 IARS Internationol Institute South Bank Technopark 90 London Road. London SE16LN. UK Office line. 0207 167 9411 Email.. contact@Sculptuk,org Web.. www.scul tuk.or
Legal and Administrative Information NAME OF CHARITABLE COMPANY: Independent Acodemic Research Studies International Institute (The IARS International Institute) Operating with the working name Sculpt COMPANY LIMITED BY GUARANTEE NUMBER: 05348191 CHARITY COMMISSION NUMBER: 1124590 TRUSTEES (NON-EXECUTIVE DIRECTORS) Ms Vonessa Bianchi (Re-elected 7th December 2022. Resigned 28th November 2023) Ms Rossona Rocchini (Re-elected 7" December 2022. Resigned 281h November 2023) Mr Richard Elliott (Re-elected 28th November 2023) Ms Rabab Halabi (Re-elected 28th November 2023) Ms Emily Poyser (Re-elected 281h November 2023) SENIOR STAFF MEMBERS TO WHOM DAY-TO-DAY MANAGEMENT OF THE CHARITABLE COMPANY IS DELEGATED BY THE TRUSTEES: Dr. Cloire Bonham.. Chief Executive PRINCIPAL ADVISERS: BANKERS: HSBC plc St Clement Danes 194 Strand London WC2R 1DX Unlted Kingdom INDEPENDENT EXAMINERS: Burgess Hodgson LLP 27 New Dover Rood Conterbury Kent, CT13DN United Kingdom
Report of the trustees (incorporating CEO'S report) for the year ended 31 March 2024 The Trustees are pleased to present their report and annual occounts of The IARS International Institute (operoting as Sculpt) for the year ended 31 March 2024. These comply with current statutory requirements. the memorandum and articles of ossociation and the requirements of the Statement of Recommended Practice Accounting and Reporting by Chorities (SORP) 2015. Structure, Governance and Management The IARS Internotional Institute is a registered non-profit company limited by guarantee and governed by a memorandum of association and articles of association. IARS is also a registered charity with the Charities Commission of England and Wales. The compony has a non-executive committee. known as the Board of Trustees. of at least three individuals all of whom ore members. The Board of Trustees meets quorterly to make decisions ond receive the report of the Chief Executive who is line managed by the collective Body of the Board. The Chief Executive is responsible for the operational side of the company, and line manages IARS, staff team who line manage interns and volunteers. History and Governing Document In 2001. IARS was informally established by Dr. Theo Gavrielides os o community interest group. On 31 January 2005, IARS was incorporoted as a non-profit company limited by guorantee. It was estoblished under o Memorandum of Association. which defined the objects and powers of the company. and is governed under its Articles of Association. IARS was set up as a user-led and user-focused membership organisation and it remoins as such, On 19 June 2008, IARS was registered with the Charity Commission of England and Wales. In 2008, 2011, 2012 and 2013 the Board of Trustees passed Speciol Resolutions omending the Memorandum and Articles of Association. On 8 January 2015. the company chonged its legol name from Independent Academic Research Studies to Independent Academic Research Studies International Institute (known as The IARS International Institute) reflecting its growing international reach. In 2021 IARS underwent a rebranding exercise and adopted a new working name of Sculpt in Morch 2022. olthough the legol company name remains the IARS International I nstitute. In the event of the company being wound up. members are required to contribute an amount not exceeding £1, Recruitment and Appointment of Trustees The non-executive directors of the company are also charity trustees for the purposes of charity low and under the company's Articles. The Board of Trustees hos agreed upon o policy and procedure for the recruitment ond selection of new members. Vacancies
for Board members are advertised, although candidates may also be identified through networking or contacts. Co-opted members can serve only for one year but they con stand for full election ot the members. general meeting. Advertisements ore based on the role description and ony skills gaps identified through the most recent Boord skills oudit. Sculpt has an Equal Opportunity Policy which is opplicable both internally to oll staff, volunteers. the board and externally. Sculpt olso has a Sofeguarding Policy, a User Engagement Policy. a Doto Protection and Privocy Policy. Health and Safety Policy. Policy on the Recruitment of Offenders and Ex-offenders ond a Volunteering Policy. Sculpt has an Employee Handbook and a Finance Manogement Handbook and Policy. Trustees, Induction and Support Progrommes for Trustees below the age of 25 Some Board members are already fomiliar with the practical work of the charity having been involved in Sculpt's work for some time and/or having had experience of working In or with charities, Further policies and procedures for the induction and training of new trustees have been developed. agreed ond implemented. Copies of Sculpt's publications are distributed to oll new Board members along with the Memorandum and Articles ond the latest financiol statements. Sculpt has adopted special training programmes for young Trustees and the Youth Advisory Board hos o permanent seat on the board, Tailored training on governance. an induction and external training opportunities are all offered to new and existing trustees. Risk Management The trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems and procedures are established in order to manage those risks. The Audit and Risk Committee and senior staff review the activities of Sculpt and identify the risks to which it is exposed, in particular those related to operation, governonce and finances. This process involves identifying risks and prioritising them in terms of potentiol impact and likelihood of occurrence. Controls to prevent or minimise the risks ore identified. together with deadlines for their implementation. These are reported to the wider Board quarterly at eoch Boord meeting as o stonding item, where risks and actions are identified and minutes are recorded for follow up and sign off. The full risk register reviewed by the Bogrd and senior staff twice o yeor. Objectives and Activities Summary of the Objects of the Charity As set out in its governing document, Sculpt's objects state that the charity exists "to promote and contribute to the development and civic participation of young people. children and adult members of the community as individuals and members of society by.. (a) Providing on infrastructure. training. guidonce and support to enable them to undertake research, studies or other activities to investigate the issues which affect them. and (b) Encouraging, supporting and facilitating them to acquire a voice in democratic life, and use the useful results of that research and learning to increase awareness
ond understanding of the issues which affect them including omongst others decision makers, governments, policy makers, service providers and the public." Our Purpose To support young people to shape their futures. What We Do We work directly with young people, employers and professionals who support young people. All our work is guided by young people themselves and based on carefully researched evidence. We.. Facilitate forums for young people to make their needs and their voices heard Publish a magazine by young people to express their perspectives and encourage debate around public policy issues Conduct research to uncover young people's real needs and what works to empower and support them Deliver training to build young people's confidence. skills. ambition, resilience and sense of responsibility. so they can shape their futures and change their communities for the better. as leaders, social entrepreneurs and octive participants in civic life Deliver training for professionals who work with young people, drawing on our research and expertise Engage with employers to facilitate work experience and employment opportunities for young people to develop skills and access diverse jobs Facilitate international exchange opportunities to encourage and enable young people to experience and appreciate other cultures. perspectives and ways of life. Our Impact We believe it is important that young people have access to opportunities to help them shape their own lives. We aim to reduce the inequality of access to opportunities and support young people to develop the skills and resources and gain the experience they need to feel positive about their future. and to play a meaningful role in shoping their communities. Our impact will be.. Improved knowledge: Young people gain knowledge and skills in several 'life-skills' areas such as business. entrepreneurship. financiol management. heolthy relationships. leodership. public speaking. negotiation skills. Improved confidence: Young people gain confidence that they know how to ensure their voices are heard. ond a sense of purpose.
Improved attitudes: Young people understond how discriminction ond stereotypes con be damaging to their relationships with others and their future choices. They will have an outward focused ottitude and will volue international partnership and collaboration. Improved agency: Young people increase their participation with key stakeholders in their local community ond take positive action to further their career options. They will build positive and collaborative relationships omongst themselves and with peers. support networks and parents.
Achievement and performance for the public benefit Summary of the main activities undertaken for the public benefit in relation to the chority's objects In planning our activities for the yeor. we kept in mind the Chority Commission's guidance on public benefit at our Trustee meetings. Sculpt remains focused on its charitable objects and mission. Sculpt provides a unique combination of first and second tier services to its service users and those working with them or providing services to them. Sculpt pays particular attention to those who tend to be morginalised or excluded becouse of their age. economic status. race. gender. sexual orientation. disability, ethnicity ond belief. We remoin youth-led ond we take pride in running programmes that directly benefit young people ond the wider community. Sculpt works with disodvantaged and marginalised young people aged 14-25 from across Greater London. supporting them in the tronsition to adulthood. We work to build confidence. skills, and knowledge by offering holistic and bespoke support to young people in a way that is personal to them. providing them with the opportunity to direct their own involvement. We are youth-led. guided in our opprooch by our independent odvisory board (a group of seven volunteers aged 16-30 from diverse communities and backgrounds). Their voices and insight offer strategic guidance and advise us on pressing issues faced by young people. As o result. our core focus areas are: Employment Support - supporting young people to secure employment. focilitating employer encounters, and delivering professionol/personal skills training. As part of this programme. we have a delivery stream tailored specifically to young people with Special Educational Needs and Disabilities (SEND). Leadership training and mentoring - training young people to become strong and self- reliant individuals. preparing them to become the next generotion of community and business leaders. Youth Voice- encouroging young people to find and use their voice, stimulating social action and moking change in their local communities. All our projects are supported by training and skills development programmes that make user participotion meaningful. We strongly believe in good project evaluation (outputs & outcomes) and have adopted concrete evaluation and measurement frameworks. Additional information of obj ectives and activities Sculpt continued to consolidate its position as a respected and trusted partner across London and internationally throughout this financial year, ond delivered services ond programmes that had a significant positive impact on its service users and the society. We delivered conducted six projects in the areos of employability. youth leadership and youth voice during the course of this year. We also offered strategic support and guldance to the West London and Central London Careers Hub as part of their Cornerstone Employer Groups.
Highlights included.. 27 partnerships formed with local schools across London 21 employer partnerships created to support the delivery of progrommes 51 corporate volunteers engaged in our work experience support programmes 6 youth-led projects delivered 1 celebration event hosted to reward and recognise the achievements of young people 12 Youth Advisory Board meetings 6 Internships hosted for young professionols Delivered best practice presentations at 2 SEND Community of Practice events Working in partnership with our international network. we provided 6 internships for young people from the USA. We estimate that through these opportunities and our programmes. directly and indirectly. we benefited hundreds of marginalised members of the international community. young people. individuals wanting to be heard. decision makers ond public services. opinion formers and like-minded organisations. Awards and Recognition Sculpt maintained the National Youth Agency Advonced Level Quality Mark for our work with young people. as well as remaining a certified as a Living Wage employer and a provider of CPD accredited training. Funders We are grateful to our funders. sponsors and donors without whom we would be unoble to continue delivering our charitoble objects. This year we received grants from Better Bankside, Central London Careers Hub. City Bridge Foundation, Notionol Citizens Service. National Lottery, P05tcode Society Trust. Shaftesbury Young People's Trust. Tottenham Grammar School Foundation. West London Coreers Hub, Woodroffe Benton Foundation. UK Youth.
Pro ect Name Ignitlng Futures: Spork Summar rojects Carried oirt 1 April 202> 31 March 2024 is on intensive one-week work experience programme for young people oged 14-16. During ihis progromme young people develop skllls by creotlng Sculpi campalgns ond goining personolised life skills tralnlng on,. healthy relotionships. sloying sofe online ond fÉnding your voice, Thls week is focused on buildlng skills for coreers in o ronge of sectors. includin the voluntor sector. is on opportunity lor SEND young people oged 14 - 16 who would like lo develop work reloted skills Inclvding Mlcrosofi offlce. customer servlce. boslc budgeting ond CV developmenl. Young people ore 0150 given the opportunily of o work plocement In week 5 with a disobility confldent employer. During the progromme youn9 people receive.. 1..1 bespoke workplori. face-to-face developrnenl doys both the Sculpt UK office and ol the young person's place of educaiion. CV developmeni opportunbtles. o work placemeni ond on inlervlew skills sesslon, Igniting Future5 is o development opportunity for young people aged 14-16 on Free School Meols or ol risk ot becomlng NEET to develop work related skills (business plonning. sociol medio, sustainobility & digitol skills including coding). get advice from industry experts ond develop o bespoke I'.I workplon with o member of the Sculpi senior monogement teom. Toking ploce one doy o wèek over six-weeks. during the progromme young people receive Support developing o I-I workplon. foce ro foce developmerit days including 'coreer spoilighis. with indLSSiry professlono15 from a vorieiy of bockgrounds. personalised life skills iroinin on heolth relatlomshi s. sto in sofe online. findin our voice. Leorn2Work is a bespoke employmeni support programme for young people oged 16-18 with Speciol Educolionol Needs and Di50bililies (SEND). designe¢Y to help novlgaie the journey to employobilily. This programme connecrs young people with employers, dellvers skill bullding workshops ond focilitaies networklng opporiunllies. Young people toke part in bespoke career plonning. professionol skill development workshops. work experience plocements with employers thoi meets their interesls ond coreer gools. personolised essentiol skills and living independently troining. CV development workshops. mock Intetviews ond networkin portunities. Funded by the Beiier Bonkside Buslness Improvement District this is o summer progromme for young people oged 16 - 18 years old. designed 10 get young people reody for the world of ,Nork by meeting o ronge ol Bankside employers ond creoting o sociol action project for the locol communliy. of funded Ignltlng Futures: In Your Element Ignltlng Futures: Power Up Learn2Work Bonkslde Futures Young people leorn oboul the world of work ihrovgh toilored workshops. work experience Mornings. nelworking opportunilies and mock tnrerviews. Additionolly. in smoll ieoms they vse the skllls ihey hove developed ro creote a soc*ol oction project obour something they core aboul thot is affecring Souihwork ond present this to friends. fomily, employers ond locol businesses ot the end of the ro ramme. Trust In You is funded by City Bridge Foundotion ond alms io develop young people's skills oround leodership ond governance. working in ihe chorily sector and sociol aclion. The gool of this projeci is to get more young people on Iruslee boords in ihe UK. ond to troin ond guide trustees on hovlng young people on their boords. We ore training young people ond preporin them for irustee osifions, Trust in You Core work Youth Advisory 8oard Summary of un-funded projects corried out 1 April 2023 - 31 March 2024 Our Youth Advisory Boord comprises of seven young people aged 15-28 from o ronge of bockgrounds. The Youth Advisory Boord meets with the senlor monogemenl leom once a month ond has a seot on the Boord of Trustees.
Financial Review Overoll. Sculpt had incoming resources for the yeor of £166.568. Expenditure for the year stood ot £224.430. This is in port due to multi-year projects where pre-financing wos made in the previous financial yeor but work delivered in this one, Restricted incoming resources for the year were £160.658. This represents a slight decrease from last year's restricted income. which stood at £176,102. The unrestricted incoming resources for this year were £5,910. which is in line with last year's unrestricted incoming resources of £5.956. Expenditure on charitable activities decreased from £356.513 to £223.650. Treasury Policy The charity hos the power to invest its monies which ore immediotely required in such investments. securities or property as may be thought fit. Aside from retaining a prudent amount in reserves each year. most of the charity's funds are to be spent in the short term. Therefore. there are only a few funds for medium term investment. Having considered the options available. the Board has taken a balanced approach to investment ond has its portfolio across o smoll number of easy-access bank deposit accounts. As of 31st March 2024. the charity had access to instant cash in its accounts of £73.190. Reserves Policy The Board has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed ossets held by the chority should be three - six months of resources expended. At this level. which is periodically reviewed, the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. Should this happen, it would be necessary to consider how such funding would be replaced or activities changed. 10
Other Operational Information External Plans for 2024 - 2025 For many years Sculpt has empowered and developed British young people through participation in trans-national programmes that enobled young people to develop skills and experiences. and their collective agency through international virtual and physical exchange. participation in international networks and structured placements. This programme of work was in response to the ambition of young people to create chonge on an international scale and to flourish as global citizens. Our new ombition is to bring this expertise to UK-wide projects that tackle issues affecting young people such as employability. finding and using their voice and knowing how to lead change in their communities. We will continue to modify our delivery model to create inclusive and accessible opportunities for young people to access our services. We will be working on diversifying our funding by developing corporote partnerships with UK-based firms to strengthen our obility to support and provide services to marginolised communities through partnership working. We will continue to offer high- quality internships to young people both from the UK and abroad. Provided that we continue to receive our current and new funders. support we will: Consolidate our re-launched Youth Advisory Board to ensure thot they are at the heart our governance structures. and recruit new members through an open and transparent recruitment campoign Continue to expond our flagship Igniting Futures. Leorn2Work. Bankside Futures and Building Connections employability progrommes, building our on work of diversifying the programmes to work with several strands of the programme including young people at risk of NEET. SEND students and care-experienced young people Continue to evaluote our existing programme and develop high-quolity impact measurement data Continue to deliver our youth leadership programmes through our Young Trustee Programme Build and expand our Alumni network where young people who have enrolled in one of our programmes can access peer-support, job and volunteer opportunities and a bank of mentors Develop more and new partnerships with employers. academic institutions. voluntary and community sector orgonisotions and governments locally. nationally and internotionally Continue to provide internships and high-quolity volunteering opportunities each year for young people Internal Plons for 2024-2025 Increose our staff capacity so that we can develop both the volume ond reach of our Youth Leadership and Youth Employobility programmes 11
Develop o service delivery model that ollows us to diversify our income Review our offer to potential corporate partners and increase our scope and reach Recruit a new Choir of Trustees and Treosurer to the Board of Trustees Provide a structured mentoring programme for young trustees ond recruit a graduate from the Trust in You programme to our Board of Trustees Recruit new members to our Youth Advisory Board Review our evaluation and impact measurement tools to ensure they can be scaled up ond remain fit for purpose Statement of responsibilities of the trustees Company law requires the Board of Trustees to prepare financial statements for each financial year which give o true and fair view of the state of the affairs of the charitoble company as at the bolance sheet date and of its incoming resources and application of resources. including income and expenditure, for the financial year. In preparing those financial statements, the management committee will follow best practice and: select suitoble occounting policies and then apply them consistently; make judgements and estimates that ore reosonoble and prudent: and prepare the financiol statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis. The Trustees are responsible for maintaining odequate accounting records which disclose with reasonable accuracy at any time the financial position of the choritable company and to enable them to ensure that the finoncial statements comply with the Companies Act 2006. The Board is also responsible for safeguarding the assets of the charitable company and hence for toking reasonable steps for the prevention and detection of fraud ond other irregularities. Members of the Management Committee (Board) Members of the Manogement Committee, who ore directors for the purpose of compony law and trustees for the purpose of charity law. who served during the year and up to the date of this report are set out on page 3. All trustees give their time freely and no trustee remuneration was paid during the year. Details of trustee expenses ore disclosed in the accounts. Independent Examiner Burgess Hodgson was appointed as Independent Exominer for 2023-24, following o competitive tendering process as part of Sculpt procurement policu. This report has been prepared in accordance with the speciol provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the Nanagement Committee on 12
and signed on its behalf by Richard Elliott Trustee.. . 2024 13
Independent Examiner's Report on the Accounts Report to the trustees/members of Independent Academic Research Studies International Institute on the accounts forthe year ended 31st March 2024 set out on pages 16 to 26. Respective responsibilities of trustees and examiner The Charity's trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the financial statements, The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Art} does not apply, and that there is no requirement in the governing document orconstitution of the Charity forthe conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:. examine the accounts under section 145 of the Act; follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)Ib) of the Act. and; state whether particular matters have come to my attention. Basis of independent examiner's statement I conducted my examination in accordance with the General Directions given by the Charity Commissioner5 for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed bythe Charity and a compari50n ofthefinancial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. The procedures undertaken do not provide all the evidence that would be required in an audit and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, l express no opinion as to whetherthe financial statements give atrue and fair view of the affairs of the charity, and my report 15 limited to the matters set out in the statement below, I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report l obtain written assurances from the trustee5 of 211 material matters. The gr05s income of the charity in the year ended 31st March 2024 does not appear to exceed the sum specified in section 145{3) of the Act, namely £1,000,000, and that we are qualified to act as independent examiners in accordance with that section by virtue of being a member of the Institute of Chartered Accountants in England and Wales. 14
Independent examiner's statement In the course of my examination, no matter has come to my attention: l. which gives me reasonable cause to believe that in, any material respect, the trustees requirements: to keep accounting record5 in accordance with section 42{3) of the Companies Act and • to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 45{11 of the Act and with the methods and principles of the Statement of recommended Practice: Accounting and Reporting by Charitie5 in accordance with Regulation 31, 33 and 40 of the 2008 Regulation 2. has not been met. or 3. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Burgess Hodgson LLP Camburgh House 27 New Dover Road Canterbury Kent CTI 3DN Date IDlizle(>lP 15
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 March 2024 Statement of Financial Activities (IncludTng Income and Expenditure) for the year ended 31 March 2024 Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Note Incoming Resources Income from: GranTs, Donations and Sponsorship Chari-. èble att*lVlties Other sources 750 1,495 39 3.626 5,910 160.658 161,408 1,495 176,102 2,6&1 219 Inves-.men&S 3,626 166,568 3,053 182,058 TOTAL INCOMING RESOURCES 160,658 Resources expended Exp•ndifure on- Generating voluntary income Charitable activities Governance costs TOTAL RESOURCES EXPENDED 1,024 222,626 780 223,650 780 356,513 I,iio 357.62J 1,024 223,406 224,430 Net Income / expenditure 4.886 162.7481 157,862) 1175,566} Transfers be¥l'oepn fund5 162,7491 62,749 Balances brouaht fonvard 83lances carried fonvard 145,073 87,210 145.07? 87,210 320,639 14i,073 The chority has not recognised gains or losses other than results of the year as set out above. All activities of the charity are classified as continuing. The notes numbered 1-10 are on poges 16-22. 16
Balance Sheet as at 31 March 2024 Note 2024 2023 Fixed Assets Tangible assets 751 1,127 1,127 751 DebLors Cash at bank and in hand 49,279 73,190 122.469 256,5>8 325.928 Current Liabilities Creditors: Amounts fallina due within one year 36,008 181,984 Net current assets 86.461 143,945 TOTAL NE[ ASSErs 87.?10 145,073 The funds of the charity Restricted income funds UnresLritted income funds TOTAL FUNDS 87,210 87,210 145,073 145,073 The directors are satisfied that for the year ended on 31 Morch 2024 the choritable compony was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtoin on oudit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 12. The director(s) acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of occounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 opplicoble to companies subject to the small companies regime and in accordance with FRS102 SORP. 17
The directors acknowledge their responsibility for ensuring that the company keeps proper occounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair vlew of the state of affoirs of the company as at the end of the financial year and if its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts. so far os opplicoble to the company. Approved by the board of trustees on signed on behalf by., and Trustee.. (The notes numbered below (pages 16-22) form part of these financial statements) 18
Notes to the Financial Statements for the Year Ended 31 March 2024 Basis of Preparation The financial statements hove been prepared in accordance with all applicable accounting standards. as modified by the FRS 102 SORP. The accounts have been drawn up in accordonce with the provisions of the Charities (Accounts ond Reports) Regulations 2008 and the Companies Acts and include the results of the charity's operations which are described in the Trustees, Report. all of which are continuing. Advantoge hos been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP. The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow stotement. The particulor accounting policies adopted are set out below. Income Income represents amounts receivable during the year. Grants and donations for specific purposes are treated as income in the year for which received. Income received during the yeor for future periods is treated as deferred income. Donated services are included at a price the chority estimates it would hove to pay in the open morket. Fund accounting Restricted and unrestricted funds are separately disclosed. as set out in note 9. The different funds held are defined os follows.. restricted funds are subject to specific restrictions imposed by the funder. unrestricted funds are available to spend at the discretion of the Executive Committee in furtheronce of the charitable objectives of the company. Expenditure Expenditure is accounted for on an occruol basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Charitoble activities, costs comprise direct expenditure including direct staff costs attributable to the relevant activity. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and in publicising the charity. Governonce costs are those incurred in connection with administrotion of the charity and compliance with constitutionol and statutory requirements. Tangible f ixed assets and depreciation
Notes to the Financial Statements for the Year Ended 31 March 2024 Tongible fixed assets costing £500 and over are capitalised ond they are stated at cost less accumulated depreciation. Depreciation is provided ot rates calculated to write off the cost or voluation of fixed ossets, less their estimated residual value, over their expected useful life on the following basis: Office Equipment - 25% Straight line basis Furniture ond Fixtures - 250/0 Straight line basis A full year's depreciotion is charged in the f irst year of use of the asset. Pension costs The company make payments to individual defined contribution schemes for employees, Contributions payoble for the year are charged to the income and expenditure occount. Going Concern The f inoncial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue os a going concern. The trustees note that whilst the expected level of fundraising income is uncertain due to the nature of the gront-giving process. there has been a steady stream of income granted and a diverse number of bids in the pipeline up to and including the date of authorisation of these accounts: some of which cover the 25/26 financial year. The trustees are sotisfied that this will continue over next 12 months. from the date of authorising these f inoncial stotements. Taxation No provision has been made for Corporation Tax in the financial statements. The Company is o registered charity and in the opinion of the directors the compony's income falls within the statutory limits. 20
Notes to the Financial Statements for the Year Ended 31 March 2024 3 Incoming ResouiGe5 UnrestFicled Resiwicted Funds Funds 2024 2024 To¢al Funds 2024 Tolal Funds 2023 Voluntary Income - GraThts. Donions and Sponsorship CASYE Toiiènham Grammar school Awèrds lor all SVP Trust EwopeaTr ConvThission- ERASMUS + Children First ESC- European Solidariiy Coips FREE 43.496 5.000 S.450 16,950 5.QC(I 9.450 16.850 11.393) 113.982) 28.381 25.008 25.008 City BfidgeFoundatic Queei Migrants Shanarani BC Reed in PartneFship EducioTr developmenr Trust Postcode Lotlery NCS Tiust You ween Yes Project Jack Petchey Foundatton Bett Bankside Oiher donations and grants Gilts in Kuid 24.950 24.950 34.818 51a8S 1.658 S50 18.800 39.237 18751 110) 950 18.900 39.237 18751 110) 22.827 782 3.827 18.640 800 18.640 1.550 750 5.950 750 160.658 161.408 176.102 Incoming Tèsouwces Iiom charliable actlvities Consdtancy and event leos Trainlng servioos and publlcation leos Research and Publt¢ SpèakiTrJ Other Aciivilies 1.495 1.495 1.435 1.495 Othe¥ Incoming tesowces Miscellanèous JRS Grani CovidGf& 2.684 2.684 38 39 219 39 39 219 Investment Income 8ank intÈiest ieceivabl* 3.626 3.626 3.053 Total Incoming Resouices 5.910 166.568 182.058 Gifts in Kind Donated Sèrvices- Academic Boa¥dlPro bo I Donatedservices-youth Advisory Board 21
Notes to the Financial Statements for the Year Ended 31 March 2024 4 Resources Expended COSES ol Cosis OF Genetaiing Charitable Jvemance Funds Acii¥lt15 Costs Total Z024 Total Siall Cosis PL4blicaiions LegalFees and Consuliingcosts EvèntsandActivities partnshIp Paymenls VVINIr$. ¢osts Rent and seFvice charges Ollicpcosis Bad debi ePense DepieGiation charges Total Resour¢es Empended 161.t156 161.456 203.022 9,061 2.831 24.405 780 9,841 2.831 24.405 21.984 3.622 75.016 18.172 33.508 1.736 7517 10.504 15.017 10,504 376 223.650 376 780 224.430 S64 357.623 Uniesiiicted •xpendilur ReSiCted expendilulè Total ResoutoÉ%s Expended 1,024 222,826 223.650 1.024 223.406 224.430 3.784 353.838 357.623 780 760 Govemance Costs1rludQlnd&pèftdent eXtIon£780(2O23. £7801, trusiees iotal expense £Nil12023.. £NS11. Z024 2023 Net oulgoing resouices for the yeai This is ared alifri Chargg= hdependentExamini Dèpieciatio 780 Sialf cosis includw. Salawies Sooial security cosls PenSn5 Idelined coN¥li )ution schem. Tho PTepaIdcontskntic5) 142.873 8.963 5.305 157.141 356 3.461 498 161.456 175.043 13.008 7.013 195.064 1.137 6.820 Tiairdng Travel AètttLuiment 203.022 The avetèg+numberol fd lime eqjivalent empwes dutln9 the year (all substantiamylor ¢haiitable acEiviliesl Noemploy••was iÈmun¢tatèd 9reater than t60Cl] p9r aThnum12023.. t60.0001. TrUse Expenses Tho Tlustees received £Nsl in expenses in £hg year. 22
Notes to the Financial Statements for the Year Ended 31 March 2024 5 Fixed Assets Tangible Fixed Assets IT and office equipment Cost Ai ISL April 2023 Additions Disposals At 31st March 2024 15.811 15,811 De reciation At IsiApril 2023 Charge for the year Disposals At 31st March 2024 14,684 376 15.060 Net Book value At 315t March 2024 751 At 31st March 2023 1.127 6 Debtors and Prepayments 2024 2023 Grant debtors Ared income PrepayrnenLS Other debtors 30.631 14.981 3,667 65.723 3.067 49,279 69.391 7 Cash at bank and in hand 2024 2023 Current accounts Deposit accounts OLher Accounts Cash 2,593 94,568 Current Assét Investment190 days ivithdraival noLice period) Current Asset Investmeni (mature in less ihan one year} Current Asset Investment (mature in more Lhan one year) 70,597 161.970 73,190 256.538 23
Notes to the Financial Statements for the Year Ended 31 March 2024 8 Creditor5: amounts falling due within one year 2024 2023 Accruals De',•rred income 0.her credi Lors Trade CrediTor 2,966 25,203 887 6,952 36,008 2,968 135,697 38,614 4,704 181,9&1 9 Reconciliatton of Funds Transfers Between Fund5 Opening Balance Movement in Funds Incoming OutgoinE Closing 8alance Restiirted Funds CASYE Tottenham Grammarschool Awards for all SYP Trust ESC - European Solidarity Corps City Bridge Foundation Que•r Mi8rant5 Shanarani BC Reed in Partnership Education dovelopment Trusr Poscodè Lottery N'CS Trus& You Vleen Yes Proiect 8a:".er 8anksid 0.hr donations and grants Gi=5 In ¥ind -108 -5936 -11220 108 936 1770 4467 4.683 4.672 221 13901 311 178 5.538 9.608 794 12251 6,069 24,009 5000 9450 16950 25008 24950 129,6901 129,6221 12211 390 1,9691 11,1281 124.4381 148,846¥ 1658 950 18900 39237 -875 -10 18610 800 124.7091 124.8091 Uhiestricted Funds Geriéral UnresTrict&d Funds 160,058 {223.4X)7) 62.749 145.073 5.910 11,0241 162,7491 87.210 Total Fund5 145,073 166,568 1224.4311 87.210 24
Notes to the Financial Statements for the Year Ended 31 March 2024 Purposes of Restricted Funds Igniting Futures: Spark This is on intensive one-week work experience programme for young people aged 14- 16. During this programme young people develop skills by creating Sculpt campaigns and gaining personalised life skills training on.. heolthy relotionships. stoying safe online ond finding your voice. This week is focused on building skills for careers in a ronge of sectors, including the voluntary sector. Funded by Notional Lottery Community Fund for 2023-24. Igniting Futures." In Your Element In Your Element is on opportunity for SEND young people oged 14- 16 who would like to develop work related skills including Microsoft office, customer service, basic budgeting and CV development. Young people are also given the opportunity of a work placement in week 5 with a disability confident employer. During the programme young people receive.. 1.1 bespoke workplan. face-to-foce development days both in the Sculpt UK office and at the young person's place of education, CV development opportunities. a work placement ond an interview skills session. Funded by SYP Trust and Tottenham Grammar School Foundation for 2023-24. Igniting Futures.. Power Up Igniting Futures is o development opportunity for young people aged 14-16 on Free School Meals or at risk of becoming NEET to develop work related skills (business planning. social medio. sustainability & digital skills including coding), get advice from industry experts and develop a bespoke 1..1 workplon with o member of the Sculpt senior manogement team. Taking place one day a week over six-weeks. during the programme young people receive support developing 0 1.1 workplon. face to face development days including 'career spotlights. with industry professionals from a variety of backgrounds. personalised life skills training on healthy relotionships, staying safe online, finding your voice. Funded by Postcode Lottery Trust for 2023-24. Learn2Work Leorn2Work is a bespoke employment support programme for young people aged 16- 18 with Special Educational Needs and Disabilities (SEND). designed to help navigate the journey to employability, This programme connects youno people with employers, delivers skill building workshops ond focilitates networking opportunities. Young people take part in bespoke career planning. professional skill development workshops. work experience placements with employers that meets their interests ond career goals. personalised essential skills and living independently training, CV development workshops, mock interviews and networking opportunities. Each young person will take part in a placement that lasts around 6-8 weeks for one day o week. Activities are delivered in their own school setting. in the Sculpt offices. and in external employer settings. This project is Funded by National Citizens Service and is o two-year programme running from September 2023 - March 2025. In 2023-24 we supported 44 young people through the programme. 25
Notes to the Financial Statements for the Year Ended 31 March 2024 Bonkside Futures Funded by the Better Bankside Business Improvement District this is o summer programme for young people aged 16 - 18 years old, designed to get young people ready for the world of work by meeting o range of Bankside employers ond creating a social action project for the local community. Young people leorn about the world of work through tailored workshops. work experience mornings, networking opportunities ond mock Interviews. Additionally, in small teams they use the skills they have developed to create a social action project about something they care about thot is affecting Southwark and present this to friends, family. employers ond local businesses at the end of the programme. Trust in You Trust In You is o two-year project funded by City Bridge Foundation running from April 2023- March 2025. Trust in You aims to develop young people's skills around leodership and governonce, working in the charity sector and social action. We are training young people and preporing them for trustee positions. The gool of this project is to get more young people on trustee boards in the UK. and to train and guide trustees on having young people on their boards. 10 Analysis of Net Assets between Funds Unrestricted Restricted Funds Fund5 2024 Total 2023 Total Fund balances are represented by: Tangible fixed assets NeL current asseLS 87,21Q 87,210 145,073 87,210 87,210 145,073 Transfers to Fixed Asset Fund are the costs of fixed assets purchased from and applied to restricted funds. The resulting balances cre the amounts remaining in those funds to be spent for the purposes for which the funds are given. Depreciation charges on the fixed ossets purchased are applied to the Fixed Asset Fund. 26