Company No. 05611999 (England & Wales) Charity No. 1129397
SOUTH CENTRAL YOUTH LTD
(a company limited by guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
STATELY ACCOUNTANTS CHARTERED CERTIFIED ACCOUNTANTS
KINGSBRIDGE COURT, CASTLEHAVEN ROAD, Camden Town
NW1 8QA
SOUTH CENTRAL YOUTH LTD FINANCIAL STATEMENTS
CONTENTS
| Page | 1 | Trustees' Report |
|---|---|---|
| 5 | Independent Examiner's Report | |
| 6 | Statement of Financial Activities | |
| 7 | Balance Sheet | |
| 8 | Notes to the Financial Statements |
SOUTH CENTRAL YOUTH LTD TRUSTEES' REPORT - STATUTORY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES
Maureen Bruce (Chair) Chloe Leech (Company Secretary and Treasurer) Gbemisola Kasanga James Wilkinson Tom Barrett (Left in Mar 24)
SECRETARY
Chloe Leech
REGISTERED OFFICE
PO Box 80222 Streatham, London, SW16 9QE
COMPANY NUMBER
05611999
CHARITY NUMBER
1129397
BANKERS
The Co-Operative Bank Plc P.O. Box 250 Skelmersdale WN8 6WT
INDEPENDENT EXAMINER
Stately Accountants Chartered Certified Accountants Kingsbridge Court Castlehaven Road Camden Town NW1 8QA
page 1
SOUTH CENTRAL YOUTH LTD TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees (who are also directors of the Company) present their report and the independently examined financial statements of the Company for the year ended 31 March 2024. The statutory information is shown on Page 1.
STATUS
The company, number 05611999, is limited by guarantee and has charitable status. The charity registration number is 1129397. It has a Memorandum and Articles of Association as its governing document.
OBJECTIVES
The charity's objectives and aims are to support vulnerable and at-risk youths.
Charity Overview
South Central Youth is a Lambeth-based Charity working to support young people in some of London’s toughest communities. Our specialist team works at a community level, building strong relationships and a sense of kinship with young people. We help support them to feel safe and secure, to look after their mental fitness and empower them to live safer, more fulfilling lives. We believe that every young person has intrinsic worth and has the right to feel positive about their future. We want a South Central London where young people feel safe, secure, fulfilled and able to express themselves.
The young people we work with are growing up on some of the most deprived estates in the country. Many are involved in or at risk of becoming victims of exploitation and others are experiencing abuse, trauma, homelessness, poor attachment to education and other complex needs. We support these young people by offering a range of specialist services including a crisis response service, intensive mentoring, therapeutic support and skills development sessions. The overall Charity aim is to engage and empower young people to improve their wellbeing, develop their thinking and choices so that they are able to maintain a fulfilled life through an increased sense of self-worth.
We continue to be the safety net for so many young people in South London during such trying times. The services delivered this year included weekly Intensive Mentoring, one to one Art Therapy, Creative Therapy and quarterly our Creative Release Group Therapy for 9–11year-olds. Our Crisis Response service provided Christmas hampers, food parcels and winter hampers, hygiene packs, winter warmer packs and emergency homeless packs to young people. For the first time this year we delivered two new personal development sessions, to provide skills development with also a business model attached. We delivered a Hairdressing course and a 10-week phone repair course. We were fortunate to partner with the Power of Polo again this year. The application of Equine therapy is an immense healing and empowering resource for many people who experience trauma and complex needs. We also delivered our
Young Parents Support Service, Ripple of hope, day trips, group activities trampoline and air soft, acting sessions, a Mothers’ Day meal and mentoring activities including pottery, self-care sessions and sporting activities.
page 2
SOUTH CENTRAL YOUTH LTD TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH
Since the pandemic, there has been a shift in our service delivery, in that most of our clients are needing support for longer periods of time and accessing more than one support service within our walls. This shows a slight skew in statistics, with a lower number of clients for the year, however, the number of hours-of-service delivery has increased.
South Central Youth is committed to empowering young people to feel positively about their future. This year we have taken steps to improve our governance and organisational processes, which puts us in a strong position to better support more young people in South Central London.
FINANCIAL REVIEW
The charity reported an income of £125,784 and expense of £166,149 that led to a deficit of £40,365 for the year ended March 2024. This is due to significantly lower income during the year but high expenditures relating to the delivery of programs utilising funds received in prior financial years. The Charity received less income this year due to changes in the funding climate post covid.
RESERVES POLICY
Reserves equating to 3 months of unrestricted expenditure is considered sufficient to cover management, staff and support costs and to cover costs relating to potential unforeseen situations. The reserves policy is therefore set at free reserves totaling a minimum of 3 months of unrestricted expenditure.
TRUSTEES
The trustees who served during the year are shown below:
Maureen Bruce (Chair)
Chloe Leech (Company Secretary and Treasurer)
Gbemisola Kasanga
James Wilkinson
Tom Barrett (Left in Mar 24)
page 3
SOUTH CENTRAL YOUTH LTD TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH
TRUSTEES RESPONSIBILITIES
Company and charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to:
1) Select suitable accounting policies and then apply them consistently.
2) Make judgements and estimates that are reasonable and prudent.
3) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SMALL COMPANY EXEMPTIONS
This report has been prepared and delivered in accordance with the provisions in Part 15 of Companies Act 2006 applicable to companies subject to the small companies' regime.
This report was approved by the board on 13th Jan 2025 and signed on their behalf.
Maureen Bruce (Chair)
page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH CENTRAL YOUTH LTD FOR THE YEAR ENDED 31 MARCH 2024
I report on the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Javed Azam FCCA
17[th] Jan 2025 Stately Accountants Kingsbridge Court Castlehaven Road Camden Town NW1 8QA
page 5
SOUTH CENTRAL YOUTH LTD STATEMENT OF FINANCIAL ACTIVITIES (including the Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted Total Unrestricted Restricted Note Funds Funds 2024 Funds Funds £ £ £ £ £ Income and endowments from: Donations and legacies 3 19,009 106,775 125,784 31,576 91,275 Charitable activities 4 - - - - - Total 19,009 106,775 125.784 31,576 91,275 Expenditure on: Raising funds 5 - - - - - Charitable activities 6 35,124 129,525 164,649 36,796 93,880 Other 7 1,500 - 1,500 1,500 - Total 36,624 129,525 166,149 38,296 93,880 Net income(expenditure) (17,615) (22,750) (40,365) (6,721) (2,605) Transfer between funds - - - - - Net movement in funds (17,615) (22,750) (40,365) (6,721) (2,605) Reconciliation of Funds Total funds brought forward 32,519 35,149 67,669 39,240 37,754 Total funds carried forward £ 14,904 £ 12,399 £ 27,303 £ 35,219 £ 35,149 |
Total 2023 £ 122,851 - |
|---|---|
| 122,851 | |
| - 130,676 1,500 |
|
| 132,176 | |
| (9,325) - |
|
| (9,325) 76,994 |
|
| £ 67,669 |
The company made no recognised gains and losses other than those reported in the income and expenditure account.
All income and expenditure derive from continuing activities.
The notes on pages 9 to 15 form part of these financial statements
page 6
SOUTH CENTRAL YOUTH LTD
Company registered number: 05611999
BALANCE SHEET AT 31 MARCH 2024
| FIXED ASSETS Note Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand CREDITORS: Amounts falling due within one year 10 NET CURRENT ASSETS NET ASSETS RESERVES Unrestricted funds 11 Restricted funds 11 |
2024 £ - 35,838 35,838 (8,829) £ £ |
£ 2023 £ 293 35 - 75,592 75,592 (7,959) 27,009 67,633 27,302 £ 67,668 14,904 32,519 12,399 35,149 27,303 £ 67,668 |
|---|---|---|
In approving these financial statements as trustees/directors of the Charitable Company we hereby confirm that:
For the year ending 31 March 2024 the Charitable Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the Charitable Company to obtain an audit of its accounts for the year in question in accordance with section 476.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The accounts were approved by the board of trustees on 13[th] Jan 2025
Maureen Bruce (Chair)
The notes on pages 9 to 16 form part of these financial statements
page 7
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
1a. Basis of preparation
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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (Charities SORP FRS 102), the Charities Act 2011 and the Companies Act 2006.
SCY 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 note(s).
1b. Preparation of the accounts on a going concern basis
SCY has reported a deficit of £40,365 for the year. The trustees are of the view that the immediate future of the charity for the next 12 to 18 months is secure and that on this basis it is a going concern.
1c. Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life by the reducing balance method.
% Plant and machinery 25
1d. Taxation
SCY is exempt from taxation under sections 466 to 493 of the Corporation Tax Act 2010.
page 8
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES (CONTINUED)
1e. Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a specified service it is deferred until the criteria for income recognition are met.
1f. Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Costs of raising funds comprise the costs of staff time and associated support costs.
-
Expenditure on charitable activities includes the direct costs of providing the services and other activities undertaken to further the purposes of the charity and includes their associated support costs.
-
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
1g. Funds
The Restricted Funds are restricted income funds given to the charity for specific purposes. They are expendable by the trustees in furtherance of particular projects within the charity objects.
The Unrestricted Funds are funds expendable at the discretion of the trustees in furtherance of the objects of the charity.
page 9
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES (CONTINUED)
2.
1h. Pensions
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in the year.
3. OPERATING DEFICIT
| OPERATING DEFICIT | |
|---|---|
| 2024 | |
| £ | |
| Deficit is stated after charging: | |
| Independent examiner's fees | 1,500 |
| Depreciation | 293 |
| Staff costs (note 12) | 107,180 |
4. INCOME FROM DONATIONS AND LEGACIES
| Unrestricted | Unrestricted | Restricted | TotalUnrestricted | TotalUnrestricted | TotalUnrestricted | Restricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2024 | Funds | Funds | 2023 | |||||
| £ | £ | £ | £ | £ | £ | |||||
| Tudor Trust | - | 50,000 | 50,000 | 10,000 | 40,000 | 50,000 | ||||
| Tudor Trust - Wellbeing | - | - | - | 2,000 | - | 2,000 | ||||
| Children In Need | - | 9,875 | 9,875 | - | 10,375 | 10,375 | ||||
| Cost of Living | - | 26,000 | 26,000 | - | - | - | ||||
| Youth Futures | - | 20,000 | 20,000 | - | 10,000 | 10,000 | ||||
| Jack Petchey Foundation | - | 900 | 900 | - | 900 | 900 | ||||
| Garfield Weston Foundation | 15,000 | - | 15,000 | 15,000 | - | 15,000 | ||||
| Covid19 Emergency Response | - | - | - | - | 20,000 | 20,000 | ||||
| Awards for All | - | - | - | - | 10,000 | 10,000 | ||||
| St Matthews Project | - | - | - | 2,767 | - | 2,767 | ||||
| St Matthews Project Tutor | - | - | - | 692 | - | 692 | ||||
| Blueshoots | - | - | - | 850 | - | 850 | ||||
| Donations | 4,009 | - | 4,009 | 267 | - | 267 | ||||
| £ | 19,009 | £ | 106,775 | 125,784 | £ | 31,576 | £ | 91,275 | £122,851 |
page 10
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
5. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted | Restricted | Restricted | Restricted | Total | Unrestricted | Unrestricted | Restricted | Restricted | Restricted | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2024 | Funds | Funds | 2023 | ||||||
| £ | £ | £ | £ | £ | £ | ||||||
| London Youth (Burberry) | - | - | - | - | - | - | |||||
| GLA | - | - | - | - | - | - | |||||
| £ - | £ | - | £ | - | £ | - | £ | - | £ | - |
6. COST OF RAISING FUNDS
| 6. COST OF RAISING FUNDS |
||||
|---|---|---|---|---|
| Fundraising costs The 2024 costs were all restricted. 7. CHARITABLE ACTIVITIES Unrestricted Funds £ 8. GOVERNANCE COSTS Unrestricted Restricted Funds Funds £ £ Independent examination 1,500 - ~~£~~ ~~1,500~~ £ - £ Restricted Total Unrestricted Funds £ 2024 £ Funds £ Charitable expenditure 35,124 129,525 164,649 36,796 Governance costs - - - - £ 35,124 £ 129,525 £ 164,649 £ 36,796 |
Total Total 2024 2023 £- ted Total nds 2023 £ £ Total Total 2024 2023 £ £ 1,500_1,500_ 1,500 £ 1,500 £ - Restric Fun 93,880 130,676 - - £ 93,880 £ 130,676 |
Total 2023 - |
||
| Total 2023 £ Total 2023 £ 1,500 £ 1,500 130,676 - £ 130,676 |
Total 2023 £ 130,676 - |
|||
| 130,676 | ||||
| Total 2023 £ 1,500 |
||||
page 11
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8. TANGIBLE FIXED ASSETS
| Plant & Machinery £ Cost At 1 April 2023 Additions 19,145 391 At 31 March 2024 19,536 Depreciation At 1 April 2023 19,110 Charge for the year 133 At 31 March 2024 19,243 Net Book Amounts At 31 March 2023 £ 35 At 31 March 2024 £ 293 £ 9. DEBTORS 2024 £ Social security and other taxes - Other debtors - Prepayments - £ - |
Total £ 19,145 391 |
Total £ 19,145 391 |
|---|---|---|
| 19,536 | ||
| 19,110 133 |
||
| 19,243 | ||
| £ 35 |
||
| 293 | ||
| 2023 £ - - - |
||
| £ - |
page 12
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Other creditors including taxation and social security | 3,230 | 2,289 | ||||
| Accruals | 5,599 | 5,670 | ||||
| £ | 8,829 | £ | 7,959 | |||
| 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS | ||||||
| **Unrestricted ** | Restricted | |||||
| Funds | Funds | Total | ||||
| £ | £ | £ | ||||
| Fund Balances at 31 March 2024 are | ||||||
| represented by | ||||||
| Tangible fixed assets | 293 | - | 293 | |||
| Current assets | 23,440 | 12,399 | 35,839 | |||
| Current liabilities |
(8,829) | - |
(8,829) | |||
| Total Net Assets | £ 14,904 | £ 12,399 | £ | 27,303 | ||
| Fund Balances at 31 March 2023 are | ||||||
| represented by | ||||||
| Tangible fixed assets | 35 | - | 35 | |||
| Current assets | 40,433 | 35,149 | 75,592 | |||
| Current liabilities | (7,959) | - | (7,959) | |||
| Total Net Assets | £ | 32,519 | £ | 35,149 £ | 67,668 |
page 13
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
12. STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL
The charity considers its Key Management Personnel to be the trustees and the Chief Executive.
| Employee costs during the year amounted to: Wages and salaries Social security costs Other pension costs |
2024 £ 102,806 3,269 1,105 £ 107,180 |
|---|---|
The average number of employees during the year was 5 (2023 - 5).
No employees received emoluments in excess of £60,000.
13. RELATED PARTIES
There were no related party transactions during the year ended 31 March 2024.
page 14
SOUTH CENTRAL YOUTH LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| EXPENDITURE | ||
| Staff Costs | ||
| Staff Salaries | 102,806 | 85,429 |
| Temporary Staff | 240 | 415 |
| Staff Costs | 4,083 | 1,554 |
| Employers NI | 3,269 | 2,100 |
| Pension | 1,105 | 387 |
| Support Costs | ||
| Legal and professional services | 8,457 | 4,761 |
| Printing, postage and stationery | 1,449 | 286 |
| Project Supplies | 4,883 | 8,861 |
| Project work | 5,019 | 2,341 |
| Purchases | 424 | 3,380 |
| Travel and subsistence | 2,340 | 1,317 |
| Insurance | 1,808 | 1,000 |
| Administrative expenses | 5,320 | 664 |
| Bookkeeping fees | 4,658 | 118 |
| Software Costs | 3,043 | 410 |
| Depreciation expense | 133 | 268 |
| Telecommunication | 3,243 | 6,446 |
| Rent | 11,533 | 10,939 |
| IT expense | 290 | - |
| Repair and Maintenance | 160 | - |
| Interest expense | 84 | - |
| Sundry expense | 302 | - |
| Governance Costs | ||
| Independent Examination | 1,500 | 1,500 |
| --------------------------------------- | --------------------------------------- | |
| 166,149 | 132,176 | |
| --------------------------------------- | --------------------------------------- | |
| --------------------------------------- | --------------------------------------- | |
| TOTAL EXPENDITURE | 166,149 | 132,176 |
| --------------------------------------- | --------------------------------------- | |
| NET INCOME / (EXPENDITURE) | ||
| FOR THE YEAR | (40,365) | (9,325) |
| ====================== | ====================== |
page 15