YPAC MANCHESTER LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Charity No. 1133626 Company Registration No. 07039253 YPAC MANCHESTER LTD INDEX PAGE NUMBER ONTENTS TRUSTEES ANNUAL REPORT INDEPENDENT EXAMINERS REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET io STATEMENT OF CASH FLOWS NOTES TO THE ACCOUNTS FOR MANAGEMENT PURPOSES ONLY 22 TRADITIONAL INCOME AND EXPENDITURE ACCOUNT YPAC MANCHESTER LTD Report of the trustees for the year ended 31" March 2024 The trustees present thei r annual directors, report and financial statements of the cha rity for the year ended 31, March 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts i n accorda nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Objectives and activities The purposes of the charity are.. To advance in life and help young people, particularly those who are socially or economically disadvantaged, through- a, the provision of recreational and leisure time activities provided in the interest of social welfare, desi8ned to improve their conditions of life. b, providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals, The main activities are.. Informal education through open access youth sessions Informal Education through Detached Youth work Term time play sessions and playschemes Supporting school pupils including transitions Health and well-being programmes Supporting Young Peoples employability The trustee5 confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Charity's aims and objectives, i n planni ng future activities, and setting the policies for the year. The charity furthers its charitable purposes for the public benef it through.. Youth Work Programme Detached Youth work Employability Support for 16-25 year olds Summer and holiday sessions Play work programme. A review of our achievements and performance Desplte the cha Ilenges of ongoing reductions i n public sector spending and increased competition for funds the charity has been able to maintain its services and continues to offer youth and play work in the areas of Ancoats, Miles Platting, Newton Heath and Collyhurst. We continue to support local young people through 3 key strands of work: l. Young People in the Community 2. Young People at Home 3. Young People achieving and succeeding. YPAC MANCHESTER LTD We have continued our Youth and Play clubs and detached work this year. We have continued to develop our detached work around the Newton Heath and Philip5 Park areas of Manchester as well as consolidating our established work in Collyhurst and Miles Platting. We also developed work in Clayton and Openshaw a5 part of our detached work offer, partnering with Manchester Young Champs. We commenced support work for young people who lost their friend who was killed in a knife incident, this has developed into a significant piece of support work throughout the year. Finally, we have ensured there was continuing support and developmental work for young people. Our developmental work has included Residential work, youth voice work, engaging educational activities, social action projects and a rts projects. Financial review In 2023-2024 our income increased by approximately £79,000. This reflects the increase in funding around detached work, fundi ng to support our additional youthwork sessions, increased f unding for social action and our position a5 Lead organisation in a funded partnership. This year, our expenditure increased by a round £5 1,000 reflecting that our sala ry expenditure and youth activity costs increased as well as approximately £14k depreciation on various assets. We have a surplus of £5,804 compared to the deficit of £22,157 in the previou5 year, We are continuing to Use surplu5 funds to ensure additional delivery. We will continue to asse55 the organisational expenditure during the year. Impact of Covid Pandemic We are still working with the long-term impact of the covid measures on young people, working with mental health, behavioural and emotional issues With some young people, though these have lessened greatly i n the last year. Investment powers and policy The trustees, havi ng regard to the liquidity requirements of operating the charity, have kept ava ilable funds in an interest-bea ring deposit account. Reserves pollcy and going concern The balance held in unrestricted reserves on 31 ' March 2024 was £29,527 of which all are free reserves, after allowing for funds tied up in fixed assets. The trustees have reviewed the reserves policy in view of the financial performance for 2023-24 and agreed the following.. Reserves Polic YPAC needs reserves to: Meet contractual liabi lities should the organisation have to close. This i ncl udes redundancy pay and notice and amounts due to creditors. To meet unexpected costs like breakdown of essential office machinery, staff cover for illness, maternity leave, parental leave and legal costs defending the cha rities i nterests. To replace equipment as it wears out. Ensure that the charity can continue to provide a stable and quality service to those who need them. Within this context to minimi5e recruitment, staff training, staff induction and marketing costs by avoiding the need for redundancies caused by financial crisis. YPAC MANCHESTER LTD To provide worki ng capital when funding is paid i n arrear5. From time to time funding has certain restrictions which mean that by law it must be held in a restricted reserve until it is spent in li ne with the fundi ng agreement. The charity aims to build a general reserve of approximately 3 months running costs (approximately £40,000 in 2021-20221 and aims to do so by generating a small surplus of £5000 per annum to go into the general reserve. The charity also aims to hold designated funds for potential redundancy or closure costs and working capital of approximately £29,500 - this f igure to be reviewed a nnua Ily subject to our potential redundancy There are no funds that are materially in deficit. Income from funders does process over two tax years. Therefore, and as mentioned, the Charity's expenditure for the reporting financial year can be more than its income. When the balance from the previous financial year is included, the charity has a cash surplus, The Cha rity's mai n source of income is grants. The Trustees consider that it is appropriate to prepa re the accounts on a going concern basis and, consequently, the accounts do not include any adjustments that would be necessary if these sources of income should cease. Risk management The trustees have conducted a review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. Plans for Future Perlods YPAC finalised a Business Plan for 2022-25 onwards focussing on increased youth work services. Further f unding will be sought from other funders over the next f inancial yea r to secure the Charity over the next three years. Trustees are reviewing and revising the business plan and funding strategy, Structure, governance and management YPAC Manchester Ltd (formerly Youth Project @ Apostles, and Cuthbert'sl is a company limited by guarantee governed by its Memorandum and Articles of Association dated 13 Oct 2009. It is registered as a charity with the Charity Commission and is constituted under a trust deed dated 20 January 2010, After a review in 2019-20, we have refocussed our work on our Objectives. Appointment of trustees As set out in the Articles of Association trustees a re elected annua Ily by the members of the charitable company attending the Annual General meeting and serve for a period of one year upon which all trustees must be re-elected. Trustee tndurtion and tralnlng Trustee's start on the Board as non-executive members. This forms part of their induction and training. Appointment as full Board Members is made up to 12 months later. The exception to this induction process is for trustees who have knowledge and experience at holding a post of Trustee and Director elsewhere and/or significant knowledge and experience of YPAC. All trustees take part in 'Away Days, to learn more about the Charity. YPAC is a member of 2 infrastructure organisations who provide Trustee training which includes, finance, governance, policy and procedures and law. YPAC MANCHESTER LTD Organisation The board of trustees administers the charity. The board normally meets every two months. A Manager is appointed by the trustees to manage the day-to-day operations of the charity. Related parties and co-operation with other organisations None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager with any service providers must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported. Reference and administrative information Charity Name.. YPAC Manchester Ltd (Youth Project @ Apostles, and Cuthbert'sl Charity Number.. 1133626 Company Registration Number: 07039253 Dlrectors and trustees The directors of the charitable com pa ny (the charityl are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows.. Key management personnel: Trustees and Directors William Orr Chair Tracy Sparkes Stephen Conway Claire Evans Hannah Brownhill Yolande Leroy Treasurer (resigned July 20231 lappoi nted July 20231 lappoi nted July 20231 Youth Work Manager Chris Macintosh Registered Office St George5 Youth and Community Centre Bothwell Road Manchester M40 7NY Independent Examiners Community Accountancy Service Limited The Grange Pilgrim Drive Beswick Manchester MII 3TQ YPAC MANCHESTER LTD Bankers Co-operatlve Bank plc Balloon Street Manchester YPAC MANCHESTER LTD Trustees responsibilities in relation to the financial Statements The charity trustees (who are also the directors of YPAC Manchester Ltd for the purposes of company lawl are responsible for preparing a trustees, annual report and f inancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. I n preparing the financial statements, the trustees a re required to.. Select suitable accounting pri nciples and then apply them con51Stently; Observe the methods and principles in the applicable Charities SORP,. Make judgments and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the f inancial statements,. Prepare the fi na ncial statements on a going concern basis unless it is appropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregula rities. By order of the board of trustees William Orr Chair th Date.. 4 November 2024 Independent examiner's report to the trustees of YPAC MANCHESTER LTD I repoil on the accoiints of the conipan). tor the year ended 31 March 2024. w'liich are set OLIt on pagil's 8 to ? l. Respectii'e responsibilities of trustees and examiner ThL Irustees (ii'ho al'e also the direLtors ol-tlie conipany for tlie piirposes of conipany law) are respoiisible t()r the prLpai'