REACHING HIGHER Roport and unaudlted Flnanclal Statements For th• year ended 31 D•comber 2023 Charlty number 1137915 Company number 07266483
REACHING HIGHER FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Contsnts Pages Legal and administrative information Report of the trustees Independent Examinerfs report Statement of financial activities Balance sheet 10 Cash Flow statement 11 Notes to Ihe financial statements 12-20
REACHING HIGHER LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M Rufus Mr V Thiyagarajah Ms E Barlow Ms R Jackson Mr W Dalziel (resigned 12 December 2023) Mr M King (resigned 17 July 2023) Mr T Mcclymont (appointed 12 December 2023) Mr D Gibson-white (appointed 3 August 2023) Registered Office Samuel Coleridge Taylor Centre 194 Selhurst Rd London SE25 6XX Bankers HSBC 54 Woodcote Road Wallington Surrey 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 2023 The trustees present their report and financial statements for the year ended 31 December 2023. Structure Governance & Management Constitution The Charty was established under a Memorandum of Associalion and is governed under its Articles of Association. The Articles were amended on 25 November 2013 to change the charity name to Reaching Higher (previously 'Reachin' Highef ). Organisational Structura The organisation is ultimatety managed by the Board of Trustees 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 conferencing. Under the Articles, new Trustees are appointed by the Trustee Board and one-third of the members of the Trustee Board (the longest serving) retire at each AGM but are eligible to be re-appointed if they still qualify. The Managing Director oversees the financial and practical running of the Charity, reporting to 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 voluntary basis. 28 /0 of the Board identify as female and 71 Ok identify as coming from Black or other racial minorities. The Trustees confinn that they have had due regard to the guidance issued by the Charity Commission on public benefit when planning their objectives and activities for the year. Risk Review The Trustees consider all the major risks the charty is exposed to on an ongoing basis which are held on a risk register. Specificalty of note, the TrUStS have developed: A funding strategy which seeks to avoid overreliance on any one source of funding. Reaching Higher is developing diverse funding streams through a range of trusts, govemment agencies, corporate and personal donors, as well as paid training and delivery contracts. A Safeguarding Young People policy has been developed to protect the Charities, beneficiaries as well as the Charty's volunteers. This policy ensures all volunteers and staff receive safeguarding training and are subject to an enhanced DBS disclosure check.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Annual Report of the Trustees Overview and Context Reaching Higher is a youth charity with a Christian ethos, focused on seNing young people of any or no faith, and challenging them to be leaders of their own lives. Reaching Higher has worked with young people with complex unmet needs in Croydon aged 1 (Y18 since 2004 and registered as a charty 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 poverty, violence, low educational outcomes, and social isolation. Like many areas of social disadvantage, Croydon is known for its prevalence of gangs, violence, and anti-social behaviour. Young people with complex unmet needs are at increased risk of Violen and exploitation as a result of their experiences of trauma and of household povety, especially if their school attendance is irregular or if they have alreaty bn excluded from school. Areas Of Work Reaching Higher has two complementary areas of work: Building strong trusting relationships with young people aged 10-18 who live andlor attend school in Croydon, through school and communty-based activities. Across our activities we seek to offer platforms where young people can make an impact and have their voices heard in their communty, as well as prioritising strong intergenerational relationships and leaming. Reaching Higher is currently working with seven secondary and three primary schools to provide a range of opportunities for young people to develop their skills and improve their mental well-being. These include in-school transferable skills workshops, after-school clubs and group and individual mentoring schemes. Our schools-based work is designed as a platform from which to signpost young people to Reaching Higher's community-based programmes, and we have continued to see large numbers ofyoung people attending our evening and school holiday activities after initialty encountering Reaching Higher in their schools. Reaching Higherfs community-based work encompasses four weekly youth hubs, four open-access sports sessions and individual mentoring sessions. We also deliver all-day provision in the February and October half terms and the August school holidays. Building intentional p8rtnerships with a range of other organisations in Croydon working with young people, including schools, alternative provision cenlres, Social Services, Youth Offending teams and other voluntary and community organisations. We call this our '360 pastoral care, approach. Our intention is to promote better understanding across partnerships of young people's lived experiences and to challenge assumptions that are made about young people's nds. We support young people to articulate these needs themselves to improve the synergy between service providers and community groups in Croydon. We aim to share learning, build capacity and improve practice so larger numbers of young people are sustainabty engaged across multiple organisations.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Vision, Mission, and Commitment to Young People Vision Reaching Higherfs vision is to S wider communities working together to champion young people to become leaders of change. Mission We are here to challenge young people to be leaders of their own lives within their place of influence. We do this by adopting an asset-based approach, helping young people discover the transferable skills they have developed as a result of their lived experience. Our commitment to young people At Reaching Higher we are committed to playing our part but recognise that we can't do this in isolation. We believe in building strong and long-lasting relationships with young people to set firm 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. Quality Mark Ststus We believe in the Importan of holding credible qualty marks to ensure that our stsndards of service both reflect best practi and are widely recognised by others. We hold a Gold Status Trauma-lnformed Quality Mark. London Youth recently reviewed their Quality Mark prosseS and we renewed our Bronze level award in 2023. Growth In Leadership Reaching Higher was estsblished by Mark and Sherise Hobbs as a small voluntsry community project in 2004. Mark continued to lead the organisation in a voluntary capacty as Reaching Higher grew over the following 18 years. When Mark stepped down as volunlary CEO in 2022, Jordan Ignatius, our previous Head of Strategy & Operations, was appointed by the Trustees into the new role of Managing Director. Jordan initially came to Reaching Higher as a young person, becoming first a volunteer and then a staff member over a ten-year period. More than half of our staff and volunteer team are now Reaching Higher alumni, modelling our desire to empower young people lo be changemakers in their own communty. In 2023 Reaching Higher appointed a part-time Executive Director to lead on organisational fundraising and financial governan, releasing the Managing Director's time to focus on strategic growth and partnerships. We also appointed a Senior Therapeutic Practitioner to lead on the implementation of trauma-informed practice across the organisation, including the provision of clinical supervision for all staff. Key Highlights from 2023 Reaching Higher continued to experience rapid growth in 2023, with demand for young people's services continuing to rise across Croydon. We have continued to expand the number of activities we offer, as well as establishing new statutory and communty partnerships. Activities Following the success of our dropin Youth Hub on Thursday evenings, we launched a similar Friday session in partnership with Woodside Baptist Church. We also launched a youth-led café on Monday aftemoons in partnership with South Noood Communty Kitchen. Our range of after-school clubs increased in 2023 to include multi-sports and boxfit, in addition to football and creative arts.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 We launched a communty-based basketball project on Wednesday evenings in partnership with Harris Academy South Norwood. We began a formal partnership with Project 4 Youth Empowerment to increase the number of young people mentored across Croydon, under the scale-up of the Mayor of London's New Deal programme. Reaching Higher also tcx)k part in multi-site research trials with the Centre For Youth Impact which enabled us to expand our communty-based formal mentoring, and partnered with Active Communities Network to mentor small groups of young women. Over the course of the year 426 young people received formal mentoring across these partnerships. We held our first Easter residential camp since 2019 at White Moor Lakes centre in Litchfield, in partnership with three Croydon churches. We ran a one-week work experience scheme in July 2023 for nine young people from local schools. We ran our school holiday provision 'RH Hangouts, in February and October half temis and for four weeks in the summer holidays, engaging more than 530 young people. During the summer we were able to offer paid work experience to four of our older young people who supported the various activities each day. Reaching Higher held our second Community Meal in December 2023 which was attended by over 200 people. Over the past year at Reaching Higher we have strengthened our Youth Board which has continued to meet monthly to review and provide feedback on our programmes and direction. Team Growth Our team grew from 15 paid staff to 19 in 2023, including the CatIon of two internship roles. For one of these roles, a former Servi user successfulty applied. Increased Reach Number of sessions in schools - 790 Number of sessions in the community - 531 Number of contact hours in schools - 8990.42 Number of contact hours in the communty - 35653.42 Number of unique young people engaged through schools - 1493 Number of unique young people engaged through communty - 1569 These numbers reflect a 610/0 increase in contact hours overall, and an increase of 290h in the numbers of young people engaged. Embedding Trauma-lnfonned Practice Reaching Higher continued to implement weekly reflective practi spaS for our delivery team. in addition to initiating formal clinical supervision facilitated by our Senior Therapeutic Practttioner. Our safeguarding approach has continued to develop over the last year in response to increasing levels of need, in particular the increase in contextual safeguarding risks. In recognition of our expertise, Reaching Higher's team is regularly called upon to take part in Child In Need and Child Protection planning meetings, as well as school exclusion panels. Initiation of Research Reaching Higher negotiated with the Directorate of Croydon Council to cary out a pilot piece of research in early 2024, which is focused on improving synergy between statutory services and the voluntary and communty sector in the Borough.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 What Young People, Partners and ParentslGuardians Say About Reaching Higher: "The work that you have done with (Child A) has l)een so good... you have been loyal to him throughout the journey, and he is aware of it. (Child A) has drastically improved... Thank you for sticking with him and being the best mentor that he could possibly imagine having." (Social Worker) 'I'm happy to be here because of all the effort and support they give to us. It helps us make sure we are heard and that our opinions do matter. I m also happy to be here because I get a good mix of leaming how to improve and enjoying my football". (Young Person) .1 like it because it has Ghanged my perspective on a lot of things. It has helped me open up a lot when it comes to my feelings because a lot of the things I never thought I would be able to speak about, I've done a bit better when it ccynes to doing it." (Young Person) °School started to become more ofa happy pla for me as I looked forwa to having the sessions." (Young Person) .1 have been consistently impressed with the quality youth wort(ers and mentors that fonn part of th8 RH family. It is for this reason that I will continue to send my children to them and support them in any way I can. They are the real deal and have an authentic commitment to the children and young people they se8." (Parent) Financial Review In this year Reaching Higher had incoming resources of £957,475 (2022 £781,046) against expenditure of £877,781 (2022- £625,102). The net surplus for the yearwas £79,695 (2022- £155,944) and the totsl reserves at the end of the financial year were £667,187 (2022 - £587.492). Reaching Higher wishes to thank individuals, companies and grant funders for their support in funding the work of the charity during the year. Our grant funders in 2023 included: The Paul Hamlyn Foundation, the Berkeley Foundation, the London Marathon Foundation, the Hodge Foundation, Greater London Authorrty New Deal Fund and New Deal Uplift Fund, the Mayor of London's Violence Reduction Unit, Centre for Youth Impact, the William Wates Memorial Trust, SF)Ort England. BBC Children in Need, the Jack Petchey Foundation, City Bridge Trust, Henry Smith Charity, London Youth, the Rank Foundation, National Lottery Reaching Communities Fund, Croydon Council Holiday Activities Fund, the Taylor Family Foundation. SYP Trust, Souter Trust, the Caring Family Foundation, the Ubele Initiative Enterprise Development Programme, the Laureus Sport For Good Foundation, R&Co4Generations, Croydon Voluntary Action Local Commissioning Fund, Oasis Charitable Trust, the Rayne Foundation and the Active Communities Network. Reserves policy The Trustees, policy is to ensure there are sufftient unrestricted reserves to meet the Company's current commitments with an intention that there should be three to six months of total expenditure covered by unrestricted reserves. The trustees acknowledge the social impact of ceasing projects through lack of funding. Our beneficiaries are often the victims of inconsistent support and presen in their lives. Our goal is to be a sustained consistent voice of hope in their lives which can be chaotic. To manage this risk, the trustees seek to ensure sufficient unrestricted funding is available to maintain successful projects through any periods where for any reason funding has been cut and we are in the process of securing further funding for that programme.
REACHING HIGHER REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees, responsibilities for the financial statements The Trustees (who are also directors of Reaching Higher for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give 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 year. I n preparing these financial statements, the Trustees are required to: select suitable accounting policies and appty them consistently", obseNe the methods and principles in the Charities SORP", make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slatements. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue its operations. The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy the financial position of the charitable company and enable them to ensure that the financial ststements 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 irregularities. This report has been prepared in accordan with the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005) and in accordan with the special provisions of Part 15 of the Companies Act 2006 relating to small enlities. Approved by the Trustees on Iq July 2024 and signed on their behalf by: Name Signature
REACHING HIGHER INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 I report to the charty trustees of Reaching Higher (charity number 1137915, Company number 07266483) on my examination of the accounts of the Company for the year ended 31 December 2023 set out on pages 9 - 20. Responsibilities and basis of the report As the charty's trustees of the Company {who are also the directors of the company 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 for this year 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 (Yhe 2011 Act">. In carying 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 Ststsment 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 (ICAEV¥9. I have completed my examination. I confimi that no material matters have come to my attention which give8 me cause to believe that: accounting records were not kept in accordance with 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 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 ac¢ordahce with the Charities SORP (FRS102). I have no concerns and have come across rro 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: Signed: Georgina Schoeb FCA Relevant professional qualffication or body: Chartered accountant (ICAEW) Address: Peninsula Accounting Ltd 84 Broad Walk London SE3 8ND Date: 21 July 2024
REACHING HIGHER STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) Notes Unrestricted Restricted funds funds Year to 31/12/23 Year to to 31/12/22 Income: Donations and grants Income from charitable activities Investment income 11,230 11,230 1,889 Total income 866 512 957 475 781046 Expenditure Costs of raising funds Expenditure on charitable activities 1,276 1,276 876 505 7,916 617 823 376 Total expenditure 823 376 877 781 625 102 Net transfer between funds 18 Net incomel(expenditure) and net movement in funds for the year 18 36,559 43,136 79.695 155,944 Reconciliation of funds Total funds brought fOard 19 386 883 200 609 587 492 431 Total funds carried forward 19 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activilies.
REACHING HIGHER BALANCE SHEET AS AT 31 DECEMBER 2023 Company no: 07266483 Notes 2023 2022 Reinstated Fixed assets Tangible assets Total Fixed Assets 15 3.070 3.070 4,294 4,294 Current assets Debtors Cash at bank and in hand Totsl Current Assets 16 2,741 742 312 745,053 16,083 647 527 663,610 Liabilities Creditors: amounts falling due within one year 17 (80 413} Net current assets 583 197 Totsl assets less current liabilities Net Assets The funds of the charity Unrestricted funds Restricted funds 19 19 423,442 243 745 386,883 200 609 Total funds These accounts have been prepared in accordance with section 398 of Ihe Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordan with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The directors are of the opinion that the company is entitled to the exemptions from audit conferred by section 477 of the Companies Act 2006 for the year ended 31 December 2023. The directors confinn that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006. The notes on pages 12 to 20 form part of these accounts. Approved by the Trustees on Lq July 2024 and signed on their behalf by: Name Signature 10
REACHING HIGHER STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Notes 2023 2022 Cash provided by (used in) operating activities 20 109 569 124,659 Cash flows from investing activities Interest income Purchase of tangible fixed assets Cash provided by (used in) investing activities (14,786) (208) Cash flow5 from financing activities Repayment of borrowing Cash used in financlng actlvltles Increase (decrease) in cash and cash equivalents in the year 94,783 124,451 Cash and cash equivalents at the beginning of the year 647,529 523,078 Total cash and cash equivalents at the end of the year 742 312
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 1 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: a) 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) (effective 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 Higher meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). b) Reconciliation with previous Generally Accepted Accounting Practice In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No items 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 concem basis The charty is considered to be a going concem based on Ihe existing level of reseNes and expected future income. d) 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 govemment and other granls, 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 measUd reliably and is not deferred. Where grant instalments have not yet been received but where the activty has been completed. income will be recognised in the accounts. For legacies, entitlement is taken as the earlier of the date on which either: 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 Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executorfs intention to make a distribution. Where legacies have been notified to the charty, or the charty is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. 12
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 e.) Donated ServIS and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefft from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP(FRS 102), general volunteer time is not recognised, and more information is given about their contribution in the trustees, annual report. On receipt, donated 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 or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipl. fj Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is nomially upon notification of the interest paid or payable by the Bank. g) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated fvnds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. 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 artistic projects being undertaken by the charity. h) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make 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 classified under the following activity headings: Costs of raising funds includes the costs of fundraising events and stsff costs associated with fundraising such as bid writing. Expenditure on charitable activities includes the costs of running mentoring projects, community projects, residential camps and other educational activities undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. j) Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finan, personnel, payroll and governan costs which support the charity's programmes and activities. 13
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 These costs have been allocated between cost of raising funds and expenditure on charitable activities. 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 useful economic lives on a straight-line basis as follows: Asset Category Annual rate Office equipment and fumiture 33% l) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. m) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. n) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normalty recognised at their settlement amount after allowing for any trade discounts due. o) Financial instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial insttuments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. p) Pensions As part of our commitment to workplace pensions, employees of the charity are invited to either choose the NEST defined contribution pension scheme or select the Hargreaves Lansdown Vantage Self Invested Personal Pension Scheme. Either option is jointly funded by contributions from employee and employer. The employerfs contributions made in 2023 were £29,316 (2022: £13,408) with an employerfs contribution rate of 5 % of pensionable pay and an employee's contribution of 5 % of pensionable pay. The trustees continue to monitor employee and employer contribulion rates. 14
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 s) Transition to FRS 102 No restatement of items has been required in making the transition to FRS 102. The transition date was 1 January 2022. 2 LEGAL STATUS OF THE TRUST The Trust 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 of the charty. 3 FINANCIAL PERFORMANCE OF THE CHARITY The summary financial performance of the charity is: 2023 2022 Income 957,475 781,046 Expenditure on charitable activities (877,781) (625,102) Net incom8 Total funds brought forward Total funds carried forward 79,695 587 492 667,187 155,944 587,492 Represented by: Restricted income funds Unrestricted income funds 243,745 423 441 667,187 200,609 587,492 4 INCOME FROM DONATIONS AND GRANTS 2023 2022 Donations 15,875 11,668 Grants 872912 593 373 888,787 605,041 The income from donations and grants was £887,787 (2022: £605,041) ofwhich £22,275 was unrestricted {2022: £52,847) and £866,512 was restricted (2022= £552,194). The charty beneffts greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordan with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. 15
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAfi ENDED 31 DECEMBER 2023 5 INCOME FROM CHARITABLE ACTIVITIES unrestn.cted Restricted funds funds Total 2023 Total 2022 Income from contracts Other Operating Income 52,130 52,130 172,466 6 INVESTMENT INCOME All of the charity's investrnent income of £11,230 (2022: £1,889) arises from money held in interest-bearing deposit accounts. 7 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTivrriES Schools Community Home Total Project delivery 7,808 152,106 27,766 187,680 Depreciation 2,390 1,912 478 4,780 Staffing including Training 299,905 239,924 59,981 599,810 Support costs (see note 9) 39,769 32,001 7,954 79,724 Governance costs (see note 9) 2,255 1,804 451 4,511 Total 352,128 427,748 96.630 876,505 Expenditure on charitable activities was £876,505 (2022.. £617,186) of which £53,129 was unrestricted (2022: £100,478) and £823,376 was restricted (2022: £516,708). 8 Summary analysis of expenditure and related income for charitable activities This table shows the cost of the thr& main charitable activities and the sources of income directly to support those activities. Schools Community Home Totsl Costs Direct grant support (352,128) 352,128 (427,748) 410,268 (96,630) 87,291 (876,505) 849,687 Net costs funded from other income {17,479) {9,339) (26,818) 16
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 9 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS Support Governance Total Basis of apportionment Office costs & administration 79,724 79,724 Support Insurance 3,011 3,011 Governance Independent examination 1,500 1,500 Governance Totsl 79.724 4.511 84.235 10 NET INCOMEI(EXPENDITURE) AFTER CHARGING: This is stated after charging: 2023 2022 Depreciation Accountancy services 4,780 5,958 18,018 14,283 11 ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL 2023 2022 Salaries and wages 494.488 379,988 Social securlty costs 44,692 32,628 Pension costs 29,316 17,252 Total 568.496 429.868 No employees had employee benefits in eXsS of £60,000 (2022: £nil). Pension costs are allocated to activities in proportion to the related staffing costs. The charity trustees were not paid or received any other benefits from employment with the Trust or its subsidiary in the year (2022: £nil) neither were they reimbursed expenses during the year (2022: £nil). No charty trustee received payment for professional or other services supplied to the charity (2022: £nil). 17
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 The key management personnel of the charity comprise the Irustees and the Chief Executive Officer who acts in a part time voluntary capacity. The total employee benefits of the key management personnel of the Trust were £nil (2022: £nil). 12 STAFF NUMBERS The average monthly head count was 18 staff (2022: 17 staffj and the average monthly number of full-time equivalent employees (including part-time staffj during the year were as follows: 2023 Number 2022 Number Schools Community Support and Governance Total 10 18 17 13 RELATED PARTY TRANSACTIONS No Trustees gave personal donations, but William Dalziel's family foundation {54".2 Foundation) gave £500 towards Summer Blitz via the Big Give online campaign and a separate £5,000 towards Ihe building project fund. The charity has no other related paty transactions which require disclosure under FRS102. 14 CORPORATION TAX The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 15 TANGIBLE FIXED ASSETS Fixtures & Equipment Total Cost At 1 January 2023 Additions Disposals At 31 December 2023 17,875 3,556 17,875 3,556 Depreciation At 1 January 2023 For the year Adjustments for disposals At 31 December 2023 13,581 4,780 13,581 4,780 Net book value At 31 December 2023 At 31 DeGember 2022 18
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 16 DEBTORS 2023 2022 Trade debtors Prepayments 2,741 16,083 17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Taxation and social security Accruals Deferred Income 27,813 1,155 13,801 3,468 18 ANALYSIS OF CHARITABLE FUNDS Balance at 01.01.2023 Incoming resources Resources Balance at expended Transfers 31.12.2023 General fund 386,883 90,964 (54,405) 423,441 Restricted funds Core Funding Creative Media Mentoring Leadership & Volunteering Restricted Funds Total 200,609 85,804 3,627 63,125 48,053 469,173 (430,821) 124,156 3,627 65,082 48,053 316,377 (314,420) 73,689 (53,846) 866,512 (823,376) 243,745 Core funding relates to funding designated towards the core activities of the organisation. Creative Media relates to projects associated with media and youth voice. Mentoring relates to the mentoring project and includes full circle from the previous year. Leadership & Volunteering relates to our Forerunners and Leaders In Training programme which develops leadership skills in young people aged 13-21. 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted funds funds Total 2023 Total 2022 Tangible fixed assets Current assets Current liabilities 3,070 420,948 576 3,070 4,294 745,053 663,613 80 936) (80 413) 324,105 19
REACHING HIGHER NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 20 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net movement in funds Add back depreciation charge Deduct interest income Decrease/{increase) in debtors Increasel(decrease) in creditors Net cash used in operating activities 79,695 4,780 11,230 13,340 524 155,944 5,958 (1,889) (16,083) {19,271) 20