HOPE FOR THE YOUNG LIMITED (A company limited by guarantee and not having a share Capital) Report and Financial Statements Year Ended: 31 March 2024 Co]npany Number: 06540167 Charity Number: 1127017 NDEX 2. Legal and Administrative Detail 3-9. Report of the Directors io. Statement of Financial AeÉivities 11. BAlance Sheet 12-20. Notes to the Account8 21-22. Independent Examiner's Report
HOPE FOR THE YOUNG LIMITED LEGAL AND ADMINISTRATIVE DETAILS for the year ended 31 March 2024 Company Number 06540167 Charity Number 1127017 The Board of Directors Dr Kamran SAEDI Mr Jafar OMID Dr Catherine Louise STREET Mr Micha¢l Edwin ATKINSON Ms Niki LIL YVIDES Company Secretary Mr Mahmoud Mostafavi Registered Office 85-87 Baybam Street, Camden, London NWI OAG Bydnkers Lloyds Bank PIC
HOPE FOR THE YOUNG LIMITED REPORT OF THE DIRECTORS for th¢ year ended 31 March 2024 The Directors present their report and the accounts for the year ended 31 March 2024. The accounts have been pr¢pared in accordance with the accounting policies set out in note I to the accounts and comply with the Charities Act 2011 and "Accounting and reporting by Charities: Statement of Recommended PTactice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republie of Ireland (FRS 102) {eff¢ctive l January 2015)" Status The organisation is a clwitable company limited by guarantee. incorporated on 19 March 2008 and registered as a chlty on 2 December 2008. The company was established under a Memorandum of Association icb ¢stablished the objects and powers of the Charitable company and is governed under its Articles of Association. Hope for the Young's mission: The cllarity aims to remove the obstAcles to young refugees and &sylum-Seeke, education and well-being through mentoring, advo¢acy, and financial support. Swnmary ofthe objects oflhe charity *se£01goverIgdoCHlNeHI1IopeforIhe Young's objecls are.. l. The relief of financial hardship among people living or working in the developing countries and the United Kingdom by providing such persons with goods and services which they Could not otherwise afford through lack of means. 2. The relief of financial hardship. either generally or individuaIly, of peopl¢ living in the developing countries and the United Kingdom by making grants of money for providing or paytng for items, s¢rvices andlor facilities. 3. The relief of the sick andlor poor living in the developing wuntries and th¢ United Kingdom either generally or individually through the provision of grants, goods or services. Achievements and Perfornianee Overview Through Hope for the Young's effective three-tiered model of mentoring, advocacy. and financial supporl we have continued to work hard. to r¢move the raDg¢ of obslacles preventing yowig refugees and asylum seekers fron] settling into th¢ir new communities, acccssing educatio and rebuilding their lives. Over th¢ past year, we have seen a 65 % increase in referrals aeross our programmes, showing that demand for our services is showing no signs of slowing dow]. In response, Hope for the Young restructured the organisation and recruited 5 new staff members and 101 new volunteer
HOPE FOR THE YOUNG LIMITED REPORT OF THE DIRECTORS for the year ended 31 Mareh 2024 mentors so we could substanliaIly increase our reach and impact. This enabled us to strengthen and diversify our matches, shorten average waiting times, and focus on new partnerships across London. We awarded more educational grants than ever before and continued to see the number of mentees receiving financial suppor¢ and the number of grantees receiving mentoring and advocacy support increase, firtber strengthening our holistic support mod¢l. Participation of those with lived experience across our OTganisation has also been central to our success. Our team have consistently provided an enviTonm¢nt in which young people's voices are heard, their achi¢vem¢nts celebrated, and their skills and experience channelled into shaping our work. Unfortunately, this past year h&s aIso come with many challenges that increased the fear. pressure, and hardship facing those we work alongsid¢. We saw the introduction of The Immigration Act and The Safety of Rwanda Bill which aimed to deter people from seeking &sylum in the UK. In December 2023, the Home Office also began rapidly increasing &sylum d¢cisions. which resulted in young people being evicted from their a¢comm(Mlation with as little as 7 days, noti¢e rendering 15 of our mentees homeless. We recruited l O volunteer caseworkers from our pool of existing mentors to work alongside ow staff team and, through extensive collaboration, signposting, and referrals, our team is proud to have supported every one of them in finding alternative accommodation. D¢spite all these hurdles, young people never ceased to inspire us with their resilien¢¢ and determination to succeed. We are delighted to have wilnessed the achievement of so many personaI goals and aspirations, from those who finally enrolled in education after years of tying to secure fimding. to those who learnt new skills and made new friends. None of these achievements would have been possible without the dedication and hard work of all our staff, volunteers, and partners and we want to sincer¢ly thank all those who have supported us and contributed towaTds our work this year. Th¢ Mentoring Programme The Mentorillg Progran]me matches young regeeS and asylum-seekers aged 16-25 with volunteer mentors who provide personalised. one-to-one support aimed at meeting mentees, . needs and helping them achieve theiT goals. On¢¢ matched, m¢ntees meet their mentor for 2-3 hours every week in local places such as cafes and libraries. Relalionships typically last six months although increasing numbers of the young people we work with have complex support needs and so timeframes ren1n flexible. Mentors have supported young people to achieve a wide variety of goals including improving their English, increasing their confidence. combatting isolation, and joining youth groups and sports clubs to help them settle into their new communities. One of the most common goals tbat m¢ntecs set for themselves was to return to education. Mentors supported young people lo research their options. find relevant CollegeunIverSities. attend enrolment days, complete applications alld prepare for interviews.
HOPE FOR THE YOUNG LIMITED REPORT OF THE DIRECTORS for the year ended 31 Mareh 2024 Over the past year, we increased our reach and supported 136 mentoring r¢lationships, up from 93 in the previous year. Of thos¢ who complet¢d mentoring, 730/0 felt mentoring had increased their confidence. 78 % reported an improvement in their English, and 86 /(k had made progress in their education. 940/0 felt strongly that n]entoring had been very good for them, 670/0 said their mentor helped them access new opportunitie5 and services, and 89V/o reported that mentoring helped them feel less lonely. 980/0 of young people said they would Tecommend our mentoring programme to otheLE. "My mentor helpedme gain a lot ofknowledge andconfiden¢e to apoint where Jcould help my otherfriends in their own jOUTneys and J could get to know the system much belter which also improved w mental healih and confidence. Menlee Essential to the success of the progranmie is our diverse pool of trained volunteer mentors enabling us to make strong matches based on shared interests and experiences. Careful matching and one-to-one focussed support allowed mentors to learn about their mentee's interests, skill4 needs, and aspirations. and to tailor support accordingly. Over the past year, the number of referrals increased substantially from 146 to 216 and we saw the number of s¢lf-referrals doubl¢ from 29 to 60. We recruited 10 I new volunteer mentors bringing our total to 167 tnentors. We carried out 8 mentor induction trainings, up from 2 on the previous year. We also held 3 workshops on themes including Financial Wellbeing, Access to Educ10 and Peer Support. Based on feedback from mentors and mentees rcquesting more opportunities to connect, we also organised 3 trips lo Arsenal Stadium, Kew Gardens, and London Zoo, and held our Annual Celebralion which w&s designed and l¢d by young people. Attendees, average rating of training and ev¢nts was 4.8 out of 5. Of the mentors who completed mentoring. 970/(k felt they received sufficient training, support and sup¢rvision, and 970/0 would recommend mentoring to others. Demand for our Mentoring PTogTamme continues to far outweigh what Hope for the Young can cuentlY provide. Our focus next year will ren1n on increasing the numbers we can reach through mentOTing whilst ensuring this growth is done carefully and sustainably. Grants and Advocacy Programme The Grants and Advocacy Programme supports young people with insecure immigration status across the UK to access and Complete firther and higher education through the provision of small bursaries and bespoke one-towone adV0Y supporL For th¢ academic year starting September 2022 and ending August 2023, we distributed a total of £52,715 to 32 young people. These were for grants up to a maximum value of £4.500 towards their tuition fees, exam fe¢s, transport, and general study costs. An additional 14 small grants under the value of £150 were awarded to young people CUTrently accessing our prograrnmes through an internal grants process. These were for small one-off items such as exam fees, transport. and study resources. Over the past year. we are proud to
HOPE FOR THE YOUNG LIMITED REPORT OF THE DIRECTORS for Éhe year ended 31 March 2024 have supwrted young people lo access a diverse range of further and higher education courses including: Healih andsocial Care, ESOL, English & MatlLS, Fashion & Design, Acting, Medicine, Beauty Therapy, Law LLB, Supporting Teaching and Learning, Diagnostic Rodiography, Engineering, Medical Science. Bachelor of Surgery, Civil Engineering, Business, Nursing apld Midwifery, Biomedical Science, Chemical and Energv Engineering, Compt41er Systems and Networks, Pharmacy, Accounting ap Management. All those receiving a'large" grant were offered 3 check-in meetings throughout the year with our dedicated Grants and Advocacy Manager at which their challenges, strengths, long-temi goals and options, were all explored. Additional one-to-one advocacy sessions weie held when required, providing a range of ejnotional alld practical support, including &qreers advice, support with UCAS applications and personal slatements, and referrals to other organisations for items such as winter clothing and food vouchers. Of those in receipt of a granL 960/0 said they could get advice and support when they needed it, 91 % reported that they were helped to access new opportunities and services, 920/0 felt supported to pursue their long-temi careeT and educational options. 87 % said their knowledge of their rights had increased, and l OOO/o felt more optimistic and hopeful about their futle. 83010 said Hope for the Young helped them feel more connected to otheT young people facing similar challenges and, at the time of reporting, IOOO/o of grantees had either passed their academic year or were continuing their studies. "Even though I've been able to secure a scholarship, it doesn'tjuY( end there, because Ihere are obvtously other struggles that comes with being in higher education. And mosl of don't haveparents Éhat have been lo universiiy bejore. So, it's a whole new ball game. Hftyis like a safe place fyou need any help, they will sort if outfor you"_ Granlee We also facilitated 3 additional workshops throughout the year, including a Grantee Welcome Meeting which provided a safe space for new grantees to rneet one another. share their experiences, and hear about the support on offer from Hope for the Young; a Women-only Support Session, and an Early Careers Workshop for Law students hosted by the law fmn Mishcon de Reya. In December 2023 we also held our Annual Celebration in which our grantees travelled from across the UK to meet one another and Celebrate their achievements along with our London-based mentees, mentors, and the whole Hop¢ for th¢ Young team. In the following academic year starting September 2023, we have since received 177 funding applicatxons and pledged a fLllther 60 grants totalling £70,166 to support young people into education. Our focus remains on supporting &8 many young people seeking sanctuary in the UK to access education and get the one-to-one support they need to succeed. We alm to increas¢ staffg capacity for this programm¢ so that w¢ Can continue growing this vitsl service alongside our Mentoring Programme.
HOPE FOR THE YOUNG LtrrfiTED REPORT OF THE DIRECTORS for the year ended 31 March 2024 Youth-led Approach We have continued enhancing and ¢mb¢dding the involvernent of young people and those with lived experience in all aspects of Hope for the Young's WOTk. During the past year, 8 young people joined our staff and mentor interview pan¢ls and co-d¢livered all our mentor training sessions. Young people have also volunteered in social medi4 admintstration. fundraising, and finance roles. We also had a team of l O young people come together to design and facilita our Annual C¢l¢bratioEL "It's important to inclz4de youngpeople in volunteer mentor recruilment,$0 thatyour evaluation of the mentors is based on the opinions of young people flzrough their experience irt rhe Menloring Programme. - Menlee Panel Member For the third year running, all our grant-making panels included at least 2 previous grantees who, alongside other panel members, decided on the outcome of grant applications. Having young people with lived experience involved at the core of our grant-making decisions was invaluable due to their deep understanding of the issues affecting new grant applicants and their knowledge of navigating the UK education and &8ylum systems. Both our staff team and the external consultants we work with includ¢ p¢ople with lived experience of forced migrdtion, ensuring that our day-to4ay work is infornied by those with lived experienc¢ of the UK asylum system. We also continued our commitment to ensuring that at least 400/0 of all external communications included the voices of those we support. Young people wrote blog posts, directed videos, spoke at events, and shared their stories to help others in similar circumstances. Being involved in the design and delivery of our prograrnmes Iw given young people the chance to develop key skills in group facilitation and publi¢ speaking. gain confidence and self-esteem, and enhance their future job prospects. Next y¢ar, w¢ will be working closely with young people to carry out an external evaluation of our programmes with the support of an external consultant. They will also k central to developing our next 3-year strategy. Partnership and outreach Over the past year, Hope for the Young received referrals from over 90 different organisations including the British Red Cross, The Refugee Council, and MRgrants Org&ni8e. Our holistic approach to th¢ n¢eds of young people, as well as the quality of our work and its proven impact, continues to remain tlY valued by our partner orgallisations whotn we work closely with. We developed stronger links with local businesses and volunteer centres to wtden our volunteer base and worked with GPS, community groups, local law firn]s, educational institutions and other charities to ensure that we w¢r¢ able to offer a truly joined-up approach. For example, through close working relationships with organisations such as The Bike ProjecL Screenshare, Wrapup London, Refugee Education UK Breadwinners, RegeeS at Home, and Freedom from Torture, we We able to support young people to access bicycles. laptops, and warn]
HOPE FOR THE YOUNG LIMITED REPORT OF THE DIRECTORS for the year ended 31 Mareh 2024 clothing, as well as more in-depth education, employmenL housing. and mental-health support - ensuring their full rang¢ of needs were met, . [the youngperson has] many meelings with home office officials. caseworkers, solicitors, housing officers... His Hfty induction meeling was verypoignant bect7use ... Éhis was ihefirst meeting he attended rhat was aboui his hopes, what he likes to do, how he spen£ts his lime and how he wayfeeling. ' [Referrer] W¢ saw a significant increase in referyals from local authorities and childr¢n's services across London and are pleased to have continued contracts with Haringey, Newham, and Richmond and Kingston Councils to provid¢ mentoring to young unaccompanied refugees and asylum- seekers living Thithin their respective boroughs. Hope for the Young also remained an active membeT of key networks supporting rege¢S and asylum geekers. These include the Refugee and Migrant Children's Consortium (RMCC), advocating for the rights of regee children. the Young Refugee Collective in South London, improving opportLmities for young refugees. and the IMIX communications group, working to shift naatIVeS around migration. We maintained membership of the Experts by Experience (EbE) Employment Initiative, promoting equitabl¢ recruitment for those with lived experience of the UK immigration system, and also joined th¢ Asylum Support Advice Network (ASAN) to share knowledge and best practices on asylum support issues. Financial Review In the year ending March 2024, w¢ raised a total of £600,847 (2023.. £308,655), of which 810/0 was restricted (£496,681). We raised 860/0 of our income from Trusts, Foundations, grants, and contracts (£519,702) Our total expenditure was £441,838. We continued to focus on diversifying incom¢ streams to strengthen our resilience and ensure sustainability moving forward. As part of this, we Taised 141 of our income from individual giving, cory)orate giving, and a growing number of community events. Hope for the Young Closed the year with net assets of £374,366. The total unrestricted reserves of the charity are £241,353. Risk Review The major risks to which the charity is exposed, as identified by the directors, have been revi¢wed and systems have been established t() mitigate those risks including reports to Directors, meetings against an agreed risk regist¢r. Reserves Poliey It is the policy of Hope forthe Young to hold at least 6 to 9 months running costs in unrestricted reserves that have not yet been committed or designat for any particular purpose. The directOTS have set aside these reserves in order to protect the future of the charitable company from th¢ ¢ff¢cts of any unforeseen variations in its income streams as part of a policy of good financial management prdctice. The alrtorS have set the level of these reserves after undertaking a thorough ass¢ssmeDt of the chil8b1e Company's needs.
HOPE FOR THE YOUNG LIMITED REPORT OF THE DIRCI CTORS for the year ended 31 March 2024 Members wlth management responsibAliti¢s The responsible individuals are directors for the purpose of company law and trustees for the purpose of charity law. The trustees serving duiing the year and up to the date of tbis report wer¢: Dr Kamran SAEDI Mr Jafar OMID Dr Catherine Louise SThEET Mr Michael Edwin ATKINSON Ms Niki KALYVIDES Their position as ITUStees is unTemunerated and no trustee had any beneficial interest in any contract with the cbarity during the year. Members of the charitable compally guarantee to contribute an amount not exceeding £1 to the assets of the tharitable company in the event of its winding up. Appointment of Directors Under the Articles of Association, membersbip shall be open to anyon¢ the directors, by a majority vote, agree will fiwther the ain]s of the charity. Responsibilities of the trustees Company law requires the trustees to prepare financial statements for each financial year, which give a true td fair view of the state of the affaiTS of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the fEnan¢ial yeaT. In preparing those financial statements. the trustees should follow best practice and: Select suitsble accounting policies and then apply them consistently* Make judgements and ¢stimates that are Teasonable and PTudent; and Prepare the fincial statements on the going concern basis unless it is inappropriate to assume that the c4)mpany will continue on that basis. The tnteeS acknowledge their responsibilities for ensuring that th¢ company ke¢ps accounting records which comply with section 386 of the Act and for preparing financial statem¢nts which give a true and fair view of the state of affairs of the company as at the end of the financial year and tf its pmfit or loss for the fitwicia] year in accordance with the requirements of section 394 and 395 alld whtcb othenvise comply with the requÈrements of the Companies Act 2006 relating to accounts, so far &$ applicable to the company. The trustees are also responsible for safeguarding the assets of the charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other inEgularities. Dr Kamran Saedi Dir¢ctor Date.. 6 December 2024
HOPE FOR THE YOUNG LIMrrED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024 Unrestricted Fund$ Restricted Funds Total 2024 Total 2023 Notes Income from.. Donations and legacies 97,813 496,681 594,494 308,655 Interest Reccived 6.353 6,353 Total income 104,165 496,681 600,847 308,655 Expendiknre on: Raising funds 24,078 24,078 24,378 Charitable activities 417,316 417,759 223,047 Total expenditure 441 94 441838 247 425 Net ineome for Ihe year 103,721 55287 159,008 61,229 Transfers between funds Net movement in nds 103,721 55,287 159,008 61,229 Brought forward 137,631 77,726 215J57 154,128 Total at 31 March 2024 241 52 133 013 374 66 215 357 There were no recognised gains or loss¢s other than those included in the statement of fllwicial activities. The attached notes £orni part of these fuwicial statements. io
HOPE FOR THE YOUNG LIMrrED BALANCE SHEET for the year ended 31 March 2024 Notes 2024 2023 Current assets Debtors Cash at bank and in band 23,968 355,963 Ig 216,121 Cr¢ditoTh: anyTrunts falling due within one year 5.565 764 Net current assets 374J66 215J57 Total assets le$$ evfftnt liabilities 374 366 215J57 Funds Capital and reserves Restricted fillxls Unrestricted fiullis 133,013 241,353 77,726 137,631 Total funds 374,366 215J57 For the financial year ended 31 March 2024 the company was entitled to exemption from audtt under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statfflnents under the requirements of the Companies Act 2006. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records whicb comply with section 386 of the Act and for preparing financial stalements which give a true and fair view of the state of affatrs of the company as at the end of the financial year and if its profit or loss for the financial year in accordance the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating t() a¢counts, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The financial statements. were approved by the bo&rd and signed on it5 behalf by: Dr Kamran Saedi Director Date: 6 Dec¢mb¢r 2024
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 Mareh 2024 Accounting policies Basis of preparation The financial statements have been prepared in accordance Accounting and Reporting by Ch8rilies.' Statement of Reconunended Practice applÈcable to charities prepaTiThg their accounts in accordCe the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102) and the Companies Act 2006. The charAtable company meets the definition of a public ben¢fJt entity under FRS 102. Assets and liabilities are initiaIly recognised at historical cost or tt7nsaction value unles5 Otherwise stated in the relevant accounting policy OT note. Going concern The trnstees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at th¢ reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. Income Donations income is recognised when the charÈty has entitlement to the funds. any perfornance conditions attached to the income have been meL it is probable that the income will be received and that the ojnount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is re¢ognised when the Charity has entitlement to the funds, any perfortnance conditions atta¢hed to the grants have been met. it is probable that the income will be reccived and the amount can b¢ measured reliably and is not deferred. Income received in advance for the provision of specified service is d¢f¢rred until the criteria for income recognition are met. On re¢eipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services OT facilities of equivalent ¢¢onomic benefil on the open market. a corresponding amount is then recognised in ¢xp¢nditur¢ in the period of receipt. Fund accounting Unrestricted fidS are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. Designated funds are unrestricted funds earnarked by the Management Committee for particular purposes. 12
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 March 2024 Expenditure All expenditure is accounted for on an aC¢nlS basis and has been classified under the related activity. The expenditure comprises dir¢ct expenditure including direct staff cost attributable, and allocated support cost. Support costs represent central operational overheads such as Finance, Human Resources, Insurance, Informatkon Technology, and central office costs, and the costs of governing the organisation. Support costs are allocated to activities on the basis of resource usage and/or the most appropriate measure of how such tesources are used. Expenditure on raising funds are those wsts incurred in attrdcting donations and legles. Charitabl¢ activkties include grants payable and expenditure associated wilh the provision of service to the beneficiaries and stakeholders of the charity, and ¢ov¢rs both direct cost and allocated support cost r¢lating to these activities. Grants payable ar¢ accounted for when approved and when the intended recipient has either received the funds or been informed of the decision to make the gIt and have satisfied all related conditions. Grants appmved but not paid at the end of the fknancial year are accrued for. Grants where the beneficiary has not been infornied or has to meet certain conditions before the grant is released are not accrued for but noted as financial commitments in the notes to the accounts. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount oIY¢r¢d. Pr¢paym¢nts are vaIued at the amount prepaid net of any trade discounts due. Grant income accruals are valued at th¢ amount claimable against the grant commitment at balance sheet date. Cash at bank and in hand Cash at bank and cash in hand includes casb and short terni higllly liquid investments with a short maturity of three months or less (except foi fixed interest bank deposits which can have a duration of up to 12 months) froEn the date of acquisition OT opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where th¢ charity has a present obligation resulting from apast event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation be measured or estimated reliably. Creditors and provisions are nomvally recognised at th¢ir s¢ttl¢ment amount after allowing for any trade discounts due. Penslons The charity operates a contributory pension scheme. It is a defined contrib10 scheme and contributions are charged in the statement of financial activities as they accrue. 13
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 Mareh 2024 (continued) Critical accounting estimates and judgments In the application of the charity's accounting policies, the trustees are r¢quiTed to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that ar¢ Considered to be Televant. Actual results may differ from these estimatss. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are Tecognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future lodS. Basle finanei81 assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction Price including transaction costs and are subsequently carried at aTnortised wst using the effective interest method unless the arrang¢ment constitutes a financing transactio where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial &8sets classified as receivabl¢ within one year are not amortised. Basie financial liabilities Basic fll]ancial liabilities, including Creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a fll]an¢ing transactio where the debt instrument is m¢asured at the present value of the future receipts discounted at a market rate of inteTest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trnde creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classifi¢d as current liabilities if payment is due within one year or less. If not, they are psented as nonwcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are der¢cognised when the charity's contractual obligations expire or are discharged or cancelled. 14
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 March 2024 (eontinued) 2. Income from Donations 2024 Totfil Unrestri¢d Restricted 2023 Totsl Donations ItKiivjdl Givirg Corporate conu[Alty and Everts 20.963 5.973 54,209 211963 5973 54209 21,341 3 1,370 12,093 Grants arKI Contra¢Ls A¢hi¢ving for Children Alborada Trust Belron Rollnie Charitablt FO&t10n Bellnelo FOdation Building Blocks Ckrry Fa]nily Foundation City Bridge Trust Futxl for HLW Need Haringey Council H¢try Smith CFMrity Hugh Symorn Charitabl¢ Trt JLakritabl¢ FOation KFC YO Foundation Lloyd5 Bank FoutKlation lA>10n Chwcks RefiEee FuNI NatiorAI Lottery- Awards for All Natio] Lx)ttery- Reaching Conmmiities New Philanthropy NPC Po$tcod¢ Society TrSt Th¢ Thildhood Tr1 The Greater knnd¢)n Athrity- Propel LeighTru5t Linbwy Tnwt Tr [)lOn Borou ofNewh LoThlon Conmll]ity Foutxlation Tl RaJ* FodatiOn T[S Wo11 Tru W¢l¢ome Newham SnMII GrttTts Proamn 23.968 30,000 23,968 30,IKMI 4,285 14,01)0 30,IMJO 4,285 14,000 18,000 8,000 20.800 210 7,832 25,000 45.000 40.0(M) 290 7.600 25.000 45.0110 40.000 290 7ffj00 25,000 lo, 2J83 3,11(MJ 10,000 U83 3,IM)O 2,300 1.000 10.O(M) i.(K>o IAIOO 105,064 105,064 15,000 23,582 1500 84,766 5.000 S0,(M)O 46,993 10,000 84,706 s,0 50.000 46993 10,000 2.500 55,0(K) 9.809 5,(M)O 7.307 5.000 sooo 97.813 49&681 594.494 3118,655 15
HOPE FOR THE YOiING LIMtTED NOTES TO THE ACCOUNTS for the year ended 31 Mareh 2024 (eontiDued) 3. Expenditure Allatysi$ Charital* aetivities Cost of Raislxg funds Melrtori Advo¢aey 21124 2023 Salary eosts PronyrE Costs Bwsaries sLport Costs Salary Costs CotL%ultingaTrJ Professional Fees Di8ital arKi Web Ekvelopme Finance atyj Payroll JASalKe Offi¢e a1 IT Fundraising 21.700 1,177 201,668 37,506 57,484 5,163 67,376 280,851 43J46 67J76 154,707 22,911 54,690 7.778 1,139 753 3262 889 17.741 7,778 380 753 1.087 296 5,914 15355 lJ18 1,673 435 1,185 23,654 1.034 795 441,838 167 230 404 5,725 1.034 596 271J31 13 247.425 146A29 4. Employees 2024 2023 No. NthTthr of Staff io Enwloynrnt Costs 2024 2023 WaS alld salaries Social seClty costs (Xher P¢JL8ion costs 269,088 20,868 6,450 296,406 141.845 8,722 154 707 No member of staff received remunerdtion of more than £60,000 in this year (2023 - none). 5. Trustee Remuneration The charity trustees were not paid or received any other benefits from employment with the TnL8t or its subsidiary in th¢ year (2023: £nil) The charity trustees received £nil in expenses in the yeaT (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil). 6. Taxation Th¢ charity is a registered charity and no provision for taxation is ¢onsidered necessary. 16
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 March 2024 {contAnued) 7. Debtors 2024 2023 ACcrld I]K0 23,968 8. Creditors: Amounts falling due within one year 2024 2023 Aged creditors Accnllls 3,852 1,713 764 764 9a. Movement in Funds- 2024 Asatl April 20 EATretlt[r¢ I tAJSS¢5 AsRt31 Tr¥ter 2024 GaiTh5 Uhtt$trirted l%Jnd&: eral 137.631 104.165 24] J52 137,63] 104.165 241 J52 MovenDt5 in Futhts- 2024 R¢stticted fa5.. Achieving for Childre AIiK)Tada Tru%t Bemelong F(4u¥Jation Bld18 Block% akrry FattlllyFowNJation City Brid8e Tn Pu1 forHunn N¢¢d ingey COW71 Henry SmithChaTity KFC YouthFQwatIOn LoThJon Churths Refugee National tnttery. Awards for AII Natiottal tDttery. ReaChiScolrtit3 New PhilBnthropy NPC Postrode SocictyTnt Childhood Ir1 Tr GTe&tr lo(0ATity. Propel The IEigh Tr5 The LinbTryTrll4t Th¢ Lojyjon FA)rOlorNewh Th¢ CorrllnwAty FOd[On ThE R8nk r(A4ndatii)rt TIK)nw Wall Tntst Wel¢otYE New]wn Small GrgDts Prowrtll ,968 30.000 14,000 23,968 15.267 14.0(K) 6,525 14,025 40.209 290 7,610 35.717 14733 6J25 7010 244 45,0(X) 40,0(X) 2 7,6(M) 25.0(K) 3,000 ,000 3&785 35 io 1I717 9.562 9.562 76,383 15,000 15,541 2,500 72,40È 105,064 2&68J J5,IMIO 84,766 5,000 50.000 46.993 io.(M)o 12,358 2J35 17.69M) 34,645 10.o(x) 5.0(X) A128 776 S577 Tl.7ZS 681 441J94 133,012 T(TrtslFwl8 215J56 44138 37 17
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 Mareh 2024 (continued) 9b. Movement in Funds- 2023 Asatl April 2022 AJt31 TratL4fer Mgrth ZO23 Gains / tnss¢s Unre$trrtted fuThk: Gtttrral 112,010 67.115 41,494 137,631 I121 67.115 41,4Y lJ7ffj31 Mov¢nxths Ix 2023 R¢strieted futh: Alknrada Tn%t Buildin8 Blecits ClF$Thly FouThlation City Brid8E Trus¢ for HutwJNeed Haringey CO]1 HeJ]ry Smith Charity LoryJ(>tiChurthes Reft¥e FuThl N0th1 tnttery- AwFds for All New Ptlllanthropy NPC p0COde Soci¢ty Tnl I'he Childhotyj tr1 The Le]Ttst The knnbury Trust Tr Raj&FoulatiOn TtM)mas Wall Tn Welc4)m¢ Newh8Jn Smqll Grrtrts Prow8nll 30,0 l8.O(M) 8.OlX) 20,800 210 7.832 25,01 30,0 18,(KbO J90 20.556 210 8,1122 20.509 I,o(M) 438 6J25 6J25 7,810 1,0 226 111717 10,0 15,OIM) 23.582 2.5(X) (K) 55.0(N) 9,8(I9 5,000 7.307 9J62 &041 ISJ41 1500 71.636 19.204 3,095 .729 1&971 1,905 5J77 42.117 241,S40 Totsl 154 127 30&655 247,425 21 357 18
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for the year ended 31 March 2024 (contiDued) 10. Purpose of Restrieted Fund8 Achieving for Children Kingston upon TPne$ Alborada Trust- funding towards the Mentoring Programme Belron Ronnie Lubner Charitable Foundation activities funding towards Hope for the Young's Building Blocks - partnership funding to be allocated towards the Mentoring Programme Cherry Famity Foundation - funding towards the Grants and Advo¢a¢y Programme CRty Bridge Trust- funding towards salaries and overheads of the Mentoring Programme Fund for Human Need- funds to be spent on bursaries Haringey Council - fwiding towards the provision of mentoring to support young una¢¢ompani¢d refugees and asylum-seekers in Haring¢y Henry Smith Charity - funding towards the ning costs of the Mentoring Programme Hugh Symons CIAaritabl¢ Trust - funding towards Hope for the Young's activites KFC Youth Foundation - funding towards th¢ Mentoring Programme London Churehes Refug¢e Fund - funding for travel cards, food, toiletries and clothing for destitute young asylum-seekers Nation¥dl Lottery - Awards for All - fijnding towards the Tunnxng costs of the Mentoring Programme National Lottery - Reaching Communities - funding towards core costs and salaTies for the Mentoring Programme in South London New Philanthropy NPC - funding towards tackling financial hardship Postcode Society Trust - funding towards the Mentoring Coordinator's salary in North London The Childhood Trust- funding towards young people under 18 supported by the Grants and Advocacy Programme The Leigh Trnst- fimding towards the expansion of the Grants and Advocacy Programme The Linbury Trnst - fi]nding towards the core work of Hope for the Young including the Mentoring and Grants and Advocacy Programmes The London Bon)ugh of Newham - funding towards the provision of mentoring to SUprt young regeeS and asylum-s¢¢kers in Newham Th¢ London Community Foundation - funding to respond to the immediate impacts of the cost-of-living crisis Thomas Wall Trust- funding towards the Mentoring Programme's expenses Welcome Newham Small Grnnts Progr8mnJe- fimding towards the pmvision of mentoring to support young regeeS and asylum-seekers in Newham fimding towards the Mentoring Programm¢ in Richmond and 19
HOPE FOR THE YOUNG LIMITED NOTES TO THE ACCOUNTS for th¢ year ended 31 March 2024 (continued) 112. Anatysi$ of net assets between funds - 2024 FAxed Assets Current Ass¢ts Cwrert Liabilities Total UnTr$trirted funds: Getrral fiThJs Restiieted funds: 246,919 (5,565) 241J53 133 013 379931 Tothl 133.013 374 I I b. Analysis of net assets between fimds- 2023 Fixed Assets Cwrettt Assets ImiestnKrt8 tiabilities Tot UeStrICted fiThls: Gera] fidS Restricted fimds: Others Total 138,395 (764) 137,631 77.726 215,357 216 121 764 20
HOPE FOR THE YOUNG LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOPE FOR THE YOUNG LIMITED I report on the accounts of th¢ charity for the year ended 31 March 2024, which are s¢t out on pages 10 to 20. R¢spective responsibilities of trii8tees and examiner The Charity's trustees are responsible for the preparation of the aOuntS. The charivs trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and ihat an independent eX]natiOn is needed. It is my responsibility to: (i) exaTnine the accounts under section 145 of the 2011 AQL (li) to follow the procedures laid down in th¢ general Directions given by the Charity Commission under section 145(5)(b) of th¢ 2011 Act. and {iii) to stats whether particular matters have come to my attention. Basis of llldependent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by th¢ charity and a comparison of the accounts presented with those records. It also in¢ludes consid¢Tation of any unusu&l items or disclosuffs in the accounts and seeking explanattons from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lru¢ and fair vtew, and the report is limited to thos¢ matteTS set out in the next stat¢ment. Independent examiner's statement Your attention is drawn to the fact that the chaTity has prepared aocounts in accordance with Ac¢ounting and reporting by Charities preparing theiraccounts in accordance with the Finanoial Reporting SLgndard applicable in the UK and Republic of Ir¢l&nd {FRS 102) in preference to the Accounting and Reporting by Charities.. Ststement of Recommended Practice issue4J on l April 2005 which is referred to in the extant regulations but has not been withdrawn. l und¢rstand that this has ken done in order for the accounts to Provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting peri¢)ds beginning on or after l January 2015. In connection with my examinatio no other matter except that refeffed to in the previous paragraph has com¢ to my attention.. (a) which gives me reasonable cause to believe that in any material r¢spect the requirements: (i) to k¢ep accounting records in accordance with section 130 of the 2011 Act; and (li) to prepar¢ accounts which a¢¢ord with the ntIng records. and comply with the accounting requirements of th¢ 20I l Act. have not been met or (b) to which. in my opinion, attention should b¢ drawn in order to enable a proper undeTStRnding of the a¢ut5 to be reached. 21
Sa¢ed Noury MAAT Membership number.. 10200024 22 Conduit Place, London, W2 IHS Date.. 9 December 2024 22