REACHING HIGHER Report and unaudited Financial Statements For the year ended 31 December 2022 Charity number 1137915 Company number 07266483
REACHING HIGHER FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Contents Pages Legal and adminkstrative infomlalion Report of the trustees Ind8p8ndent Examinefs report Statement of financial activities 10 Balan sheet 11 Cash Flow statement 12 Notes to the finanaal statements 13-21
REACHING HIGHER LEGAL AND ADMINISTFV4TFVE INFORMATION Trustees Mr M Rufus Ms H Thomas (resigned 22 June 2022) Mr V Thiyagarajah Ms E Barlow Mr W Dalziel Mr M King Ms R Jackson (appointed 26 April 2022) Registered Office Samuel Coleridge Taylor Centre 194 Selhurst Rd London SE25 6XX Bankers HSBC 54 Woodcote Road Wallington Sutrey SM6 ONJ Independent examiner Peninsula Accounting Ltd 84 Broad Walk Blackheath London SE3 8ND Charity number 1137915 Company number 07266483
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their report and financial statemonts for the year ended 31 December 2022. Structure Govemance & managennt Constitution The Charity was established under a Memorandum of AsscKiation and is govemed under its Articles of Association. The Articles were amended on 25 Novemr2013 to change the charity name to Reaching Higher (previously 'Reachin' Higherf). Organisational Structu The organisation is ultimately managed by the Board of Tnjstees which oversees the work of Reaching Higher. All major operational and strategic decisions are made by the Board who met five times during the year either in person or via online nferencin9. Under the Articles, new Trustees are apFN)inted by the Truste8 Board and one-third of the members of the Trustee Board (Ihe longest serving) retire at each AGM but are eligible to be re-appointed rf they still qualify. The Chief Executive vtho served in a voluntary capacity for many years stepped down in September 2023. He was replaced with a paid Managing Directoi. who now oversees the financial and practical running of the Charity, rerKJrting into the Trustees. Trustees Trustees, who are all Directors of the company, were recruited based on their broad range of skills and experience. They bring a wide range of experien in working with young people on a professional andlor voluntsry basis. 40% of the Board identify as female and 60% identrfy as coming from Black or other racial minorities. The Trustee5 confim that they have had due regard to the guidan issued by the Charity Commission on public benefit when planning their obj'ectives and activities for the year. Risk Review The Trustees consider all Ihe major risks the chatity is exposed to on an ongoing basis which are held on a risk register. Specifically of note, the Trustees have developed: A funding strategy whith seeks to avoid overreliance on any one source of funding. Reaching Higher is developing divers8 funding streams through a range of trusts. govemment agencies, corporate and personal donors. A Safeguarding Young People policy has been developed to piotect the Chartties, beneficiaries as well as the Charity's volunteers. This policy ensures all voluntee[5 receive safeguarding young people training and are subject to an extended DBS disclosure check. Annual Report of the Trustees Overview and Context Reaching Higher is a youth charrty a Christian ethos, focused on serving young people of any or no faith, and challenging them to be leaders of their own lives. Reaching Higher has worked with vulnerable young people in Croydon aged 10-18 since 2004 and registered as a charity and company in 2010. The organisation was established in response to the range of challenges faced by young people growing up in Croydon Borough. including intergenerational povety. violence, low educational outcomes, and social isolation. Like many areas of soual disa(fvantage, Croydon is known for its prevalen of gangs, violence, and anti-social behavtrour. Vulnerable young people are at increased risk of grooming. violence, and
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 exploitation as a result of their experiences oftrauma and of household poverty, especially iftheirschool attendance is irr8gular or rf they have already been excluded from school. Reaching Higherfs aim is to empower young people to be leaders of their own lives, making tM)Sitive contributions lo their communities and achieving their potential. Reaching Higher uses an asset-based approach which encourages young people to discover the transferable skills they have developed as a result of their lived expetience. and one of our core values IS to be youth-led. Over the past year we have established a Youth Board which meets monthly to review and feed back on Reaching Higher's programmes and direction. Reaching Higher are committed to sharing our leaming with other youth-focused organisations working in Croydon and beyond. We have cultivated an organisalion that is built by and for young people and local leaders from the o)mmunty of Croydon and tts neighbouring boroughs. Areas Of Work Reaching Higher is currently working with six secondary and four primary schools to provido a range of opportunities for vulnerable young peopte to develop their skills and improve their mental well-being. The proportion of students at our partner schools with an SEN Education Health and Care Plan is th6 third highest in London, well above the national average. The numbe15 of students in Croydon eligible for tree school meals is also above the national average. We have leamed extensively from the delNery of our programmes and from dialogue with school staff, parents, guardians. and young people themselves, as well as from Reaching Higher's increasingly close partnerships with Croydon community-based organisations. Croydon Police, and other local authority servico providers such as the Youth Offending Setvice, Earfy Help and Children's Services. Consequenlly. we have developed and refined our 'triangulation' approach, working with schools. community organisations and y(NJng people and their families. Reaching Higher aims to support and thampion young peop acfUSS three criti1 areas of their lives school, community, and home - and to recognise the value of strong and consistent partnerships between schools, MmUnIty-baSed organisations, and families. With Ehe young person at the centre of this triangulation approach, we believe that the best way to impact the life of a young person is to have an insight into all three areas. Whilst we recognise that we rannot rx)ntrol any of these areas we strongly believe that we c3n tx)sitively influence them. We want to help schools to leverdge their unique connections with Iheir local communities and to support them to convene an integrated nefvlork of suptKJrt servicos and statutory agencies who communicate well for the benefft of children ar their families. Our work focuses on young people who are at risk of under-attainment and exclusion from school. Reaching Higher aims to support young people so thatthey can leam more effectively and achieve their potential at school, bul equally importanlly to support schools to seNe their young people holislically. In broad temis, Reaching HMJherfs programmes encompass: In-school transition support workshops for Year 6 students as they prepare to move to Year 7 In-school transferable skills workshops for Years 7-10 In-school group mentoring sessions for Years 6-10 In-school 1..1 mentoring sessions for yea &10 After-school clubs for Years 6-10 Community evening activities based around sports, creative arts, youth leadership and employability 1..1 mentoring in communty l(Katrons Drop-in youth hub provision on Iwo weekday evenings Supporting youth-led social action inltiatives School holiday provision in October and February hatf terrns, Easter, and Sutnmer holidays
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 Our intentron is that young ople who engage in Reaching High&r's activities in thoir school are also encouraged to participate in our range of community-based activities (or are encouraged to be referred to our partner organisations). to deepen our engagement and widen the range of support available to them. All Reathing Higher activities are designed to help young people build friendships with peers and positive relationships with safe adults, imprt)ve emotional resilience and independent living skills, and reduce their risk of exclusion from school. Across each of our activities, our team uses an explicrtly trauma-infomied approach. Vision, Mission, and Commitment to Young People Vision Reaching Higher's vision is to see wider communities wotking together to ChaMpn young people to become leaders of change. Mission We are here to challenge young people to be leaders of their own Itves within their place of influence. We do this by adopting an asset-based approach. helping them discover the transterable skills they have developed as a result of their lived experien(*. Our commitment to young people All of us at Reaching Higher are committed to playing our part but reccgnise that we can't do this in isolation. We believe in building strong and long-lasting relationships with young people to set fim foundations in the years to come via our relational approach. With this in mind, we must collaborate well and establish a united front with everyone who cares for young people and the communities they live in. Qualty Mark Status We believe in the importance of hotding credible quality marks to ensure that our standards of Se}ca both reflect best practice and are widely recognispAI by others. We hold a Gold Status Trauma-lnformed Quality Mark. London Youth have recently reviewed their Quality Mark processes and we are currently renewing our status with them. Change In Leadership Reaching Higher was established by Marf( and Sherise Hobbs as a small votuntary community project in 2004. Mark continued to lead the organisation in a voluntary capacity as Reaching Higher grew over the following 18 years. One of Reaching Higherfs core values is to be youth-led, and we also prioritise sustainable growth. In recognition of both these valu8s, Mark and the Tfustees carefully considered the oiganisation's leadership strategy and future during 2021 and decided together that the time had arrived for Mark to step away from leading Reaching Highei. We are so grateful to Mark for his vision and commitment to Reaching Higher over the past 18 yeats and for all that he has invested in the team and our young people. Jordan Ignatius, our previous Head of Strategy & Operations. was apFK)inted by the Trustees into the new role of Managing Director of Reaching Higher on 1st September 2022, following a thorough handover prO$s. Jordan inÈtialty came lo Reaching Higher as a young person, becoming first a volunteer and then a staff member over ten years. Jordan understands Reaching Higher's work and ¢ontext deeply. He has excellent relats'onships with our range of partners and a clear vision of what our organisational priorits'es need to be over the coming months and years.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 Key Highlights from 2022 Reaching Htgher continued to experien rapid growth in 2022. at a time when the need for young people's servtces has increased immensely after the Covid19 pandemic. We have not only expanded the scale of our activities and increased the number of young people we work with, but also the depth of the interventions we offer. Partnership Working Reaching Higher has embedded partnerships wrth Croydon's Yoxjth Offending Setvscg. Earty Help Team and inclusionlp8Storal care teams across eight schools. developing robust referral pathways for the most vulnerable young people in the Borough to engage sustainably wilh our programTnes. These partnerships have expanded the reach and impact ol our work, resutting in an increase in the number of young people we work with and expanding our reath to young people wtth hwher levels of vulnerabilty. Team GrDWth Our team grew by 800/0 in 2021 and a fijrther 20% in 2022, Trdcilitating opportunities to raise up and equip new young leader5, primarily through paid intemship and delivery roles for which several former Reaching Higher service users successfully applied. These tDles have reduced our dependence on sessional wod(er5 and have improved the consistency of wr work. InGTrased Reach Number of sessions in schools- 710 Number of sessions in the communty - 260 Number of contact hours in sch(vJls - 8,104.92 Number ol contacl hours in the cx)mmunity- 19,492.00 Numbar of unique young people engaged through schools - 1160 Number of unique young people engaged through o)mmunity- 12(B These numbers reflect a 17¥0 increase in contact hours overall. and an increase of over 300.kn in the numbers of young people engaged. Focus On Trauma-lnfomied PCtiCe Reaching Higher has ernbra trauma-infonned practlce as an evidence-led and research-based approach. In response to the increasing levels of need presented by young people. Reaching Higher has prioritised training in mental health firsl aid for OUT team, in addition to implementing reflective practice spaces and clinical supeTvision facilFtated by a trained counsellor on staff. Our safeguarding approach has rther developed over the last year in response lo increasing levels of need as a result of both the pandemic and the cost-of-living crisis. In recognition of our expertise, Reaching Higherfs Safeguarding Team has been lled upon to co-facilitale and support safeguarding conferences held by Croydon Council. The Team also participates as members of the Croydon Safeguarding Children Partnership steering group and sil on school exclusion panels. In these contexts we are able to speak as tNsted adults vth whom young people voluntarily and consistently engage. Contribution to Research In December 2021 Reaching Higher was invited to take part in a research pilot proiect involg multi- site trials of our mentoring approach, c¢x&rdinated by the Centre For Youth Impact and the Youth Endowment Fund. This pilot is scheduled to end in Der 2023 and has significantly conlributed to the growth of our menloring provision.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 ProgmmeS Gnmth In 2022 Reaching Higher laur7ched a drop-in Youth Hub on Thursday evenings which has proved lo be very popular with our young people. We began fomally mentoring and training other local youth organisations as part of the Mayor of London's New Deal programme, sharing our leaming aiound asset-based, youth4ed earty intetV8ntion initiatives. Under the New Deal programme. Reaching Htgher has increased our school and community-based fomal mentoring provision, inoluding bespoke one-to- one mentoring for young people at high risk of excSusKJn from sthwl. We also launched an annual Community M8al which was deswJned and implemented by our young peop. This event took place in December and was attended by over 80 people. Expansion of RH Hangouts In 2022 Reaching Higher increased our sch(x)I holiday provisKJn, engaging 531 young people through seven weeks over the February. Easter. August and October holidays. In the Summ8r w8 ran two simultaneous locations for the first time., one in Ihe north of the Borough and the other in the south. What Young People and ParentslGuardians Say About Reaching Higher: "Reaching Higher is a really good place. the staff are relatable. funny. kind and very encouraging. Reaching Higher makes me feel very safe, l am able to rety on my Ment0 as they have helped me becom8 who l am today. Reaching Higher has made me a lot more confident, even my mum has mentioned that ever since the team has rnentod me. she has seen a huge drffence. Another impact on my lrfe Is that I now feel better about myself and l actually now explore new things in life so I can make the most ofit." (Young PeOn, Mentoring Pmgramme) You guys are absolutety bnlliant, Reaching Higher has helped (my child) $0 much. I have never seen her this confident within herself. Ever since Reaching Higher has supported (my child) I have seen a huge improvement in her behaviour. Now I can say she enjoys going to school. The support and encougeMent her mentor is giwng. is really pushing hèr into the right direction and (my child) keeps mentioning that she cannot wart until her mentor and the rest of Reaching Higher staff is back. Thank you, guys. so much.- (Parent of young pw50n on Mentoring Programmè) .1 guess I have ahvays been a leader, but due to my shyness I have neverbeen able to let that happen. Since I have started to corne to Reaching Higher I have fett more comfortable as a leader and been able to express myself more freely." Iyoung Person, Sports Programme) -1 feel very posibve about the pmgTrmme. I feellike itgives young people an area where they can speak about their social life, they can talk about any issues they face throughout the week. It is also informative. It always has a main focus, a point of subject which we are able to look into. Itgives children something to focus on and think about outside of non77al educafy"on." (Young Person, Leadership Pmgramme) .1 have found the sessitms inspiring, fvn and helpful. I have learned new stuff here. like how to draw and it is good for meeting new people. l arn happy lo be here because it is the highlight of my day.. after a long day at school I can come here and have fvn and laX fM studying." (Young Person, Creative Arts Pmgrammej Financial Review In this year Reaching Higher had incoming resou$ of £781.046 against expenditure of £625,102. Th8 net surplus for the year £155.944 and the reserves at the end of the financial year were £587,492. Reaching Higher wshes to thank indivtduals. mpanIeS and grant fvnders for their support in fvnding the work of the tharity during the year.
REACHING HIGHER REPORT OF ThE TRUS EES FOR THE YEAR ENDED 31 DECEMBER 2022 Our grant funders in 202 the Paul Hamtyn Foundat Reduction Unit. Centre f Children in Need, the Jack the Rar)k Foundation, Nati Fund, the Taylor Family F ThriveLDN, the Charles H included.. London Community Resp)nse Fund, Reedham Children's Trust, Greatei London Aulhorty New Deal Fund, Mayor of London's Violen r Youth Impact, the WillM Wales Memorial Tnjst, Sport England, BBC Petchey Foundation, Cty Bridge Tnjst. Henry Smith Charity, London Youth, nal Lottery Reaching Communities Fund, Croydon Council Holiday Activities undation, SYP Trust, soer Trust, the Rayne Foundation, Clarion Futures, yward Foundation and AB charitab Trust. Reser¥ves policy The Trustees. policy is to curtent commrlments with covered by unrestrtcted through lack of funding. O their lives. Our goal is to manage this risk. the trust SUCC8ssful projects throug process of securing further ensure thore are sufficient unrestricted resetves to meet the Company's n intention that there should be three to six months of total expenditure selves. The trustees acknowledge the social ifflpact of ceasing projects beneficiaries are often the victims of inconsistent support and presence in a sustained consFStent voice of hope in their lives which can be chaotic. To es seek to ensure sufficienl unrestricted funding is available to maintain any periods where for any reason funding has been cut and we are in the nding for that programme.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees. responsibilities for the financial statements The Trustees (who are also directors of Reathing Higher for the purws6s of company law) are responsible for preparing the TTUStees' Rewrt and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Untted Kingdom Generally Accepted Accounting Practice). Company 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 charwtable company and of the incoming resources and application of resoLfrces. including Ihe in(L)me and expenditure. of the charitable company for that year. In preparing these financial statements, the Trustees are iequired to: select surtable a)unting policies and apply them wnsistently,. observe the methcKls and principles in the Charities SORP" make judgeTnents and 8stimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements,. prepare the financial slatemenls on the going concem basis unless it is inappropriate to presume that the diaTitable company will continue its operations. The Tnjstees are responsible for keeping adequate accounting records which disclose wtth reasonable accuracy the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention of fraud and other egUlaritieS. This report has been prePad in accordance with the Statement of Recommended Practi.. Accounting and ReportEng by Charrbes {revised 2005) and in accordance with the special prOvlOnS of Part 15 of the Companies Act 2(K)6 relating to small entFties. Approved by the Trustees on 14 Septe and signed on their behalf by:...
REACHING HIGHER INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 I report to the charity trustees of Reaching Higher (charity numb8r 1137915, Company number 07266483) on my examination of the accounts of the Company for the yeai ended 31 December 2022 set out on pages 10- 22. Responsibilities and basis of the report As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law). you are responsible for the preparan of the accounts in accordance with the requirements of the Companies Act 2006 {Yhe 2006 Act"). Having satisfied myself Ihat the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Acl and are eligible for independent examination. I report irF respect of my examinatron of your charity's accounts as carried out undersection 145 ofthe Charities Act 2011 {Ihe 2011 Acr}. In carying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)Ib) ofthe 2011 Act. Independent Examiner's Statement The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales IICAEW). I have cx)mpleted my examinati. I confinn that no material matters have come to my attention which gives me cause to believe that: • accounting records were not kept in accordance vitth section 386 of the Companies Act 2006. or • the accounts do not accord with such records" or . the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the acmunts give a 1Tue and fair, view which is not a matter considered as part of an independent examination", or • the accounts have not been prepared in accordan with the Charities SORP (FRS102). I have no concgms 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. Name: Georgina Schoeb FCA Relevant professional qualffication or body: Chartered accountant {ICAEW) Address: Peninsula Accounting Ltd 84 Broad Walk London SE3 8ND Date.. 12 September 2023
REACHING HIGHER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT} Notes Unrestricted Restricted funds funds Year to 31/12/22 Year to to 31/12/21 Incorne: Donations and grants Income from charttable activf(ies Investment income 1.889 1,889 712 Total income 625 893 Expenditure Costs of raising funds Expenditure on charitable activities 7.916 100 478 7,916 7,180 516.708 Totsl expenditure 108 395 516 708 625 102 449 837 Net transfer between funds 18 Net incomel(expenditurel and net movement in funds forthe year 18 120.458 35.486 155,944 176,056 Reconcilsatlon of funds Total ftsnds brought forward 19 165 123 255 492 Total funds carrted forward 19 The statement of financial activibes includes all gains and ke$ rocognised in the year. l income and expendtture derive from o)ntinuing actrvities. 10
REACHING HIGHER BALANCE SHEET AS AT 31 DECEMBER 2022 Company no: 07266483 Notes 2022 2021 Fixed assets Tangible assets Total Fixed Assets 15 4,294 4,294 8,155 8,155 Current assets Debtors Cash at bank and in hand Total Current Assets 16 16,083 523 076 523,076 663.610 Liabilitles CreditOTS'. amounts falling due within one year 17 (99 683) 583 197 423 393 Net current assets Total assets less current liabilities 92 31 Net Assets The funds of the charity Unrestricted funds R8Stricted funds 19 19 155,944 431548 176,056 255 492 Total funds These accounts have been prepared in accordance with seclion 398 of the Companies Act 2006 and section 138 of Ihe Charities Act 2011. These accotjnts are prepared in a¢xordance wtth the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual ac(x)unts required by the Companies Act 2006 and are for circulatkon to members of the company. The directors are of the opinion that the company is entitled lo the exemptions from audit conferred by section 477 of the Companies AGt 2006 for the year ended 31 December 2022. The directors confirm that no member or members have reqSt& an audit pursuant to section 476 of the Companies Act 2006. The notes at pages 13 to 21 fomi part of theseplxounls. Approved by the Trustees on 14 September É023 and signed on their behaff by-..
REACHING HIGHER STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 Notes 2022 2021 Cash provided by (used in) oporating activilies 20 124659 253,944 Cash Ilows from investing activitDes Interest income Purchase of tangible fixed assets Cash provided by (used in) investing actlvities (208) (7,975) Cash flows from flnancing activities Repaymenl of boffowing Cash used in financing activities Increase (decrease) in cash and cash equivalents in the year 124,451 245.969 Cash and cash equivalents at the b&ginning of th8 year 523,078 277,108 Totsl and cash equivalents at the end of the year 523 078 12
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 1 ACCOUNTING POLICIES The principal accounting policFes adopt8d. judgèments and key sources of 8stimation UnrtaInty in the preparation of the financial statemenls are as foltows.. a) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by CharFties'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Report6ng Standard applicable in the UK and Republic of Ireland (FRS 1021 (effecttve 1 January 2015)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Reaching Hiqher meets the definttion of a public benefft entity under FRS 102. Assets and liabilities are initially re(x)gnised at historrcal cost or transactton value unless otheiSe stated in the relevant actounting polrcy note(s). b) Reconciliation wilh previous Generally Acceptgj AoUnting Practi In preparing th8 accounts, the trustees have nSidered whether in applying the accounting wlicies required by FRS 102 and the Chatibes SORP FRS 102 the restatement of comparative items was required. No tiems were identified which needed restatement and there was therefore no need to present a reconciliation of opening balances. c) Preparation of the accounts on a going conc&m basis The charity is considered to be a going lCeM based on the existing level of reselves and axpected fijture incA)me. d) Incorne Income is recognised when the charity has entttlement to the funds. any perfonnance conditions attached lo 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 govemment and other grants. whether'capital. grants or'revenue, grants, is recognised when the charity has entrtlement to the funds, any performance conditiorts 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. Where grant instalments have not yet been received but where the actFvty has been completed, incotrE will be recognised in the accounts. For legacies. entitlement is taken as the earlier of the date on which eFther.' the charity is aware that probate has been granted. the estate has been finalised and notification has been made by the executor(s) to the Twst that a distribution will be made, or when a distribution is reived from the estate. Receipt of a legacy, in whole or in part, is only considered probab when the amount can be measufed reliably and the charity has been notified of the executorfs intention to make a distribution. Where legacies have been nolified to the charity. or the charity is aware of the granting of probate, and the criteria for income recognition have not been mec then the legacy ts a treated as a contingent asset and disclosed if matetial. 13
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 8.) Donated services and facilities Donatèd professional seThices and donated facilities are recognised as income when the chartty has CA)ntrol over the item, any conditions associated with the donated it8m have been met. the receipt of economic benefit from the use by the charity of the item is probable and that economic nefrt can be measured reliably. In accordan with the Charities SORP(FRS 102), general volunteer time is not recognised. and more information is given about their contribLrtion in tho trustees. annual report. On receipt, donated professional servIS and donated faciltties are recognised on the basis of the value of the gift to the chanty which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. f) Interest recetvable Interest on funds held on deposTt is included when re1vable and the amount can b6 measured reliably by the charty., this is notmally upon notification of the interest paid or payable by the Bank. g} Fund accounting Unrestricted funds are available to spend on activtties that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the ttuslees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations thich the donor has specified are to be solely used for particular areas of the charity's work or for specFfic arttsttc projects being undertak8n by th8 charity. h) Expenditure and irrecoverable VAT Expenditure is reccN3nised once there is a legal or constructive obligation to make a payment to a third paty, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classtfied under the following activity headings.. Costs of raising funds includes the costs of fundraising events and slaff costs associated with fundraising such as bid writing. Expendibjre on charilable activities Trncludes the costs of running mentoring projects, community projects. residential camps and other edUtiOnal activities undertaken to ftjrther the putposes of the chartty and their associated support costs. Irrecoverable VAT is charggd as a cost against the aclivty for which the expenditure was incurred. jl AllocatK)n of support costs Support costs are those functtons that assist the work of the charity but do not directly undertake charitable acttVFbes. SuprM)rt costs include back office costs, finance. personnel. payroll and govgmance costs whtch support the charity's prcgrammes and activities. 14
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 These costs have been allocated betsveen cost of raising fijnds and expenditure on charitable aclivities. The bases on which support costs have been allocated are set out in note 9. k) Tangible fixed assets Individual fixed assets costing £100 or more are capitalised at cost and are depreciated over their estimated usefvl economic lives on a straight-line basis as follows.. Asset Category Annual rate offi oquipment and fumiture 33% l) Debtors Trade and other debtors are recx)gnised at the setuement amount due after any trade discount offered. Prepayments are valued at the amount prepard net of any trade discounts due. m) Cash at bank and in hand Cash at bank and cash in hand inclL5des cash and short lemi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar aowint. n) Creditors and provtsions Creditors and provisions are recognised where th8 charty has a present obligation resulting from a past event that will probably resum in the transfer of funds to a third paty and the amount duo to settie the obligation can be measured or estimated reliably. Creditors and provisions ate normally recogni8ed at their settlement arJUnI after allowing for any trade discounts due. o) Financial instrnments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inrtially recognised at transaction value and subseouendy measured at their setdement value with the exception of bank loans which are subsequenlly measured at amortised cost using the effective interest method. p) Pensions As part of our commitment to Wofkplace pensrons. emph)yees of the charity are invited to either choose the NEST defined contribution pension scheme or selecl the Hargreaves Lansdown Vantage Self Invest Personal Pension Scheme. Either Option is jointly funded by contributions from employee and employer. The employer's contributions made in 2022 were £13.408 (2021.. £5,386) with an employer's contribution rate of 5% of pensionable pay and an employee's contribution of 5 /0 of pensionable pay. The trustees o)ntinue to monitoi employee and employer contribution rates.
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 s) Transition to FRS 102 No r6Stalement of items has been required in making the transition to FRS 102. Tha transltion date was 1 January 2021. 2 LEGAL STATUS OF THE TRUST Th8 Ttust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member ofthe charity. 3 FINANCIAL PERFORMANCE OF THE CHARrrY The summary financial perfomiance of the charity is". 2022 2021 Income 781,046 625.893 Expenditure on tharitable activilies (625.102) (449.837) Net inGome Total funds brought foMard Total funds carried forward 155,944 176.056 255 492 431,548 587,492 Represented by: Restricted IrMe fijnds Unrestricted income lurKIs 200,609 386 883 587,492 166,123 266 425 431,548 4 INCOME FROM DONATIONS AND GRANTS 2022 2021 Donations 11,668 14,462 Grants 593 373 511 042 605,041 525,504 The income from donations and grants was £605,041 {2021." £525.504} of which £52,847 was unrestricted {2021: £105.776) and £552.194 was restricted12021: £419,728). The charity benefits greauy from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In ac{x)rdan with FRS 102 and the Charities SORP (FRS 102). the ecorH)mic contribution ol general volunte6F5 is not recc*Jnised in the accounts. 16
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 5 INCOME FROM CHARITABLE ACTIVITIES Unrestrcted Reslncted funds funds Total 2022 Total 2021 Income from contracts Other Operating Income 172.466 172,466 99,388 289 676 6 INVESTMENT INCOME All of the charitys investment income of £1.889 (2021: £712) arises from money held in interest bearing deposit accounts. 7 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTMTIES Schools Communty Home Total Project delivery 9,565 82.122 3,226 94,914 Depreciation 2.979 2,383 5,958 Staffing including Training 224,252 179,402 44,850 448,504 Support costs (see note 9) 32.220 25.863 64,527 Gov8mance ¢osts (see note 9) 1,716 1,373 343 3,432 Totsl 270,658 291,083 55,445 617,186 Expenditure on charitable activities was £617,186 (2021: £442.657) of which £100,478 was unrestricted (2021: £80,524) and £516,708 was restricted (2021.. £362,133). 17
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 8 Summary analysis of expenditure and related income for charitable activities This tsble shows the Cost of the three main charitable activities and the sources of income directly to support those actmties. Schools Community Home Total Costs {270.658} (291,083) (55,4451 {617,186} Direct grant support 255,150 278.885 55,445 589,481 Net costs funded from other income (15.508) (12,198) (27,7061 9 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS Support Governance Total Basis of apportionment Office costs & administration 64.527 64.527 Support Insurance 1.982 1.982 Govemance Independant examination 1,300 Govemance Total 64.527 3,282 67,810 10 NET INCOMEI(EXPENDITURE) AFTER CHARGING: Thls is stated after charging: 2022 2021 D8preciation Accountancy services 5.958 6.155 14,283 7.155 18
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 11 ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL 2022 2021 Salaries and wages 379,988 286,593 Social security costs 32.628 18,230 Pension costs 17.252 13,408 Total 429.868 318.231 No employees had employee beneffts in excess of £60,000 (2021: £nH). Pension costs are allocated to activities in proporknon to the related staffing costs. The charity trustees were not paid or received any other benefits froffl employment with the Trust or its subsidiary in the year (2021.. £nill netther were they reimbursed expenses during the yeaf12021'. £nil). No charity truslee re1Ved payment foi professional or other services supplied to the charity (2021: £nil). The key management personnel of the charity comprise the tnjstees and the Managing Director. 12 STAFF NUMBERS The average monthly head count was 17 staff (2021." 12 stsff) and the average monthly number of full-time equNalent employees (including part-time staff) during the year were as follows- 2022 2021 Number Number Schools Community Support and Govemance Total 10 17 12 13 RELATED PARTY TRANSACTIONS The charity has no relatèd paty trdnsactFons which require disclosure under FRS102. 14 CORPORATION TAX The charity is exempt )trom tax on InMe and gains falling wTrthin section 505 of the Taxes Ad 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to tts charitable objects. 19
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 15 TANGIBLE FIXED ASSETS Fixtures & Equipment Totsl Cost At 1 January 2022 Addttions Disposals At 31 December 2022 18.466 2,097 18,466 2,097 Depreciation At 1 January 2022 For the year Adjustments for disposals At 31 December 2022 10.311 5,958 10,311 5,958 Net book value At 31 December 2022 At 31 December 2021 16 DEBTORS 2022 2021 Trade debtors Prepayments 16,083 17 CREDITORS: AMouKfs FALUNG DUE WITHIN ONE YEAR 2022 2021 Taxation and social security Accruals Deferred Income 13,801 3,468 6,882 11,324 20
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 18 ANALYSIS OF CHARITABLE FUNDS Balance at Incoming 01.01.2022 resources Resources Balance at expended Transfers 31.12.2022 386,883 General fijnd 266.425 228,852 (108,395) Restricted funds Core Funding Creative Media Mentoring Leadership & Volunteering Restricted Funds Total 165,123 89,615 9.539 37.759 28,210 342.875 (346,686) (5,912) (110,264) (53,846) 85.804 3,627 63.125 48,053 135.630 73,689 552,194 (516,708) 200,609 431 49 Core funding relates to funding designated towards the core activities of the organisation. Creative Media relates to projects associated with media and youth vol. Mentoring relates lo the mentoring project and indudes fijll circle from the previous year. Leadership & Volunteering relates to our Forerunners and Leaders In Training programme which develops leadership skills in young people age 13-21. The transfers from unrestricled funds represent expenditure in excess of restTiCted income being met by unrestrtcted reserves. 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted funds funds Total 2022 Total 2021 Tangible fixed assets Current assets Current liabilities 4.294 383,674 4,294 663,613 8,155 523,076 279,939 431 548 20 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2021 2022 Net movement in funds Add back depreciation charge Deduct interest income Decreasel(increase) in debtors Increasel(decrease) in creditots Net cash used in operating activibes 155,944 5,958 (1,889) {16,083) (19.271) 176,056 6,155 (712) 15,500 56,945 21