Swan Pro'ect 01 '*é ANNUAL REPORT 2023124 Charity Number: 1143957 Private Company Limited by Guarantee: 07639262 66 Thank you for everything YO14 do to support us, we would definitely be lost with014t you all 99 Swan Youth Project, Paradise Road, Downham Market Presented By . Anna Foster www.swanyouthproject.org
Contents Message from our Chair of Trustees CEO'S Report Legal and administrative information Trustees, report 9-10 Independent examiner's report 11 Statement of financial activities 12 Balance sheet 13 Notes to the financial statements 14-27
A message from our Chair of Trustees James Bagge I have been privileged to be chairman of this great Project for the last three years. To have been there to observe how much it has grown and developed its approach to meeting the needs of so many young people in Downham and its environs has itself been an education and l am so proud to be involved. This last year has been particularly challenging. The knock-on effects of the pandemic have been considerable and largely go unnoticed in our wider community. I never cease to be shocked and alarmed at the referrals which the team share with me and which they must manage. The many hours spent supporting families with safeguarding concerns is increasing all the time, with 16% of the registered young people falling into this category. The waiting lists for vital support, as I write this, have 32 young peoplelfamilies listed, which increases weekly. At the same time many usual sources of funding have dried up or been much harder to access in an environment which is increasingly competitive. This means that more time is having to be devoted to bidding for grants - we are hugely appreciative of the help offered to us by the De Laszlo foundation who have been providing the funding for these efforts for the last five years. Whilst grants and trusts are becoming more challenging to access, we are going to have to find more innovative ways to raise funds, particularly difficult with the cost of living crisis we are in. In addition to these challenges Anna and the team have been running the Love Downham venture which is becoming more and more a feature of Downham Community life and increases awareness of the work which they are doing at the Project. The team have also been managing to work around the alterations being made to the Project building itself. These have greatly improved the facilities we can offer and the environment in which the team now operate. Big thanks to Naked Kitchen for giving us such a magnificent new kitchen. We are endeavouring to find ways of developing income streams of our own and it is hoped that in time the shop will deliver a contribution and we hope that offering Alternate (education) Provision to those primary school children who need more specific attention to encourage and enable them to cope with school will also help us earn our keep. It is increasingly clear that reliance on grant funding alone is not sufficient. We are of course indebted to those who do give us money and I would particularly like to thank UK Youth. Garfield Weston Foundation, Norfolk Community Foundation, Borough Council of Kings Lyn and West Norfolk, Bain Capital and Ellerdale Trust. My thanks too to my fellow trustees and a particular 'shout out, to Jack Harris who as a long serving trustee has been the rock on which this Project has developed over the last six years or so. It is our great misfortune that he has had to stand down and we will miss him enormously. Finally and once again I must congTatulate and thank Anna and her team for all the wonderful and essential work they do. Down m and West Norfolk owes them a lot.
CEO'S Report - Project Overview Swan Youth Project supports over 350 young people aged 8-18 and their families per year with a whole variety of needs. Our work includes a variety of activities which take a holistic approach to enable us to provide wrap around support not just for the young person but also their family. These services include: Open Access sessions (3 per week) Family Support Ser*/ice Parents, Group One to One support for mildlemerging mental health Holiday Activities Young Carers Support Hygiene Bank Bike Kitchen Princes Trust Achieve Program Vocational Trips and Workshops Residential Trips Love Downham Shop Alternative Provision If it wasn't f or here I wo(41d kave no f riends Our Open Access sessions act as a gateway to all of our other services, allowing young people to come into a safe and positive space with no booking. In these groups we use a Trauma Informed Approach to get to know young people really well, seeing behaviour as a direct message to their feelings and experiences. Our holistic approach means that we can step up support where needed, with I:1 or Family Support, as well as Young Carers support. We can also offer holiday sessions and vocational tasters to increase aspiration and inspire young people to think of their futures. Being embedded in the community means that we have first hand knowledge of what is happening and what the needs are in our area. We are a trusted place to come when things go wrong; we are also the place to come and celebrate life's wins.
Who did we help. We saw over 100 young people every week in Open Access sessions We supported over 300 young people last year There were 5373 attendances at our Young People sessions Hygiene Bank was accessed 855 times Open Access was attended 3142 times The types of issues we are seeing include: Trauma Family Breakdown Boundaries SEND Anxiety School refusal Complex home situations Identity 17% are Yo¢Ang Carers 7% are LG8TQ, 36% are SEND 51% hove mental health concerns 16% we have safeguardin9 concerns f or Our support is different to others as we know our community so well and listen to the need on the ground. We are not prescriptive and can be flexible in our approach and the services we deliver. Our latest quarterly feedback.... 66 Incredible SL4pport Tkank YOL4 Nopw 99
Updates We were able to access YIF funding to reconfigure our building back before Christmas. This has allowed us to bring our building in line with the needs of our young people. creating a safe and welcoming reception area plus more usable rooms for every day. Our front door was moved to the middle of the building, making rooms private and no longer walk-ways to another room. We have also created a lovely Sensory Room that young people can use if they are feeling overwhelmed or need a bit of a break. Naked Kitchens donated the most wonderful bespoke kitchen to us, which we are using every single day we are at the centre - we are so incredibly grateful to them for their support and kindness In August we took 16 young people to Kingswood Outward Bound Centre on a fully funded trip. All young people had an amazing time and pushed themselves outside of their comfort zones completely. These trips are vital in supporting young people to really find themselves and build their confidence and social skills. Many schools have stopped these trips since covid, so we will continue to do what we can to make this happen on a annual basis for young people who would not otherwise be able to access this. 66 really enjoyed it. It 9Ot Tr7e 04t of My cornf or 201e and I spent time w/ith rny f riends. 100 % of young people who attended said: They would recommend the trip to others The trip helped their mental health They felt well supported by staff 99 3 staff completed their Trauma Informed Diploma Level 5 in November, making them Practitioners. This approach is threaded through our project as we know that trauma plays a part in many lives. Seeing and listening to every individual is vital and is what sets our support apart. One size does not fi.t all EDDi6 TRAUFIA IIFOIrnED PMCTIC£ AT . StATan Projoct
Our services Open Access - These are the gateway to our project for many young people, who can turn up at any one of our 3 sessions every week. These vital sessions offer positive activities and support for young people aged 8-18 that can be accessed without booking on a first come, first served basis. Our Open Access sessions run: Tuesday 4:30pm-6:30pm for all ages, Thursday 4pm-6pm for ages 8+ at primary school, and Friday 4:30pm-6:30pm for secondary school age. These sessions provide a safe space for young people to connect and access support, guidance, positive activities and spend time with an emotionally available adult. We regularly see bemieen 30 - 40 young people at these sessions, many of whom have complicated and concerning worries. We work in a Trauma Informed way to get to know all of these young people really well, making them feel important and wanted, often in a world where they do not feel this anywhere else. We never know who is going to walk through our doors, and often we are the place where young people come to disclose safeguarding concerns, so we have to be ready for anything. In the town, young people and parents know that we are a safe space to come to. so we see new members regularly. Young people trust that we will keep them safe and not accept poor behaviour or bullying - we recently re-wrote our code of conduct with their input, so that they really took ownership of the expectations. I:1 support for mildlemerging mental health - Our I:1 support can help young people who may be struggling with a variety of worries. This service is oversubscribed, with a waiting list in place. Family Support - Family Support is an integral part of our work, we support families with a whole variety of issues including family breakdown, domestic abuse, additional needs, and financial worries. This service is oversubscribed, with a waiting list in place Young Carers - Our Young Carers asked for a link worker rather than a specific group, so we have implemented this model. All young carers can come 30 minutes before Open Access to link with Lucy and have some quality time to offload and catch up Community Liaison and Small Groups - Bain Capital has funded a vital role for us meaning we can run assemblies and group workshops for a variety of young people of all ages in schools and community groups locally. This then links around 100 young people back to our project a year. Bike Kitchen - Our Bike Kitchen aims to attract the 'harder to reach, young people to come on-site and fix their bikes whilst engaging in positive and supportive conversations with our youth workers. Young people accessing this service are at risk of becoming involved or are involved in anti-social behaviour Love Downham Shop - Love Downham is part of the Nourishing Norfolk Network, providing subsidised food and high-quality pre-loved clothing to the community. We offer volunteering, training opportunities, and qualifications for the community and a warm space to prevent loneliness Hygiene Bank and 'No Child Goes Hungry. _young people can access hygiene products when they need to during our Open Access sessions, and we also provide food parcels to families in need Alternative Provision - We launched this service in March 2024 and are excited to see how this develops over the coming year. We are providing I day a week to young people at risk of exclusion, in years 4,5.6. We take a maximum of 8 young people a day and work with a Trauma Informed Approach.
Our family have been fortunate enough to have had the Swan Youth Project, in general. and Sonja. in particular, to help us navigate some very difficult times, We turned to them for assistance due to the caring approach that they have shown our daughter when she has used the project. As a means to mediate through the issues we have been having they have offered us support as both a family and to all of the individual family members separately. They have listened to everyones points of view and have then given non judgmental support to all and offered advice on coping mechanisms going forward. I cannot thank them enough for all the help they have given and also cannot think of any ways to improve the service. We will always be in their debt for the help and kindness we have received. Love Downham Our Love Downham shop continues to support the community with subsidised food, pre-loved clothes and a safe space to spend time. You just cannot underestimate the importance of giving time and care to all who come through our doors. We welcomed Emma to our shop as Project Coordinator in February. She brings a fresh pair of eyes and lots of ideas to us, as well as many years community work for Girl Guiding. She has been loving meeting our customers and getting to know everyone. We are so happy that we are able to link with other services who all use our space to get directly to the community. Greta, our CAB worker has been particularly busy on a Friday as the demand to see her is really high. She supports people with a wide variety of situations such as: debt. homelessness. DLA forms, overcrowding, benefits, managing money. accessing education. It is wonderful to have her as part of our team and to be able to share her knowledge with the community. We currently host: CAB NCC Tech team Family Hubs It's so friendly and accessible I1,-T¥.. 60 Luca thinks its fvn to at'Love Downham.. He feels independent and likes rhafyou tru5r him to use the pnce gun. He say5 you have helped him M"Ih his times tables too. Luca thinks the staff are fvnny, he gets excited aljout coming to work and he likes thatyou a doing a good thing ftjr people who use the shop. Mum of young peTson who is complets.ng bK)rk experience with us. Sept 2023 Love is the answer
A year in Pictures
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) LEGAL AND ADMINISTRATIVE INFORMATION Trustees HLPeak J Bagge M Bullen A Hornby C Edwards (Appointed 22 April 20241 Charity number 1143957 Company number 07639262 Re9lStered office Swan Youth Project Norfolk Paradise Road Downham Market Norfolk PE38 9JE Independent examlnor Mapus-srnith & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE Bankers National Westminister Bank PIC 4 Tuesday Market Place King's Lynn Norfolk PE30 1YY
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statement5 for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in rKJte 1 to the financial statements and comply with Ihe charity's governing document. the Companies Act 2006 and '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 20191. Objectives and activities The Swan Youth Project INorfolk} seeks to provide young people, from eight years and upwards. in South West Norfolk. with access to a wide range of posilive and inclusive activities from a dedicated venue. By working with young people. within their local communities, our aim is to raise awareness of existing activities and opportunities for them and encourage new ones. The area in which the charity can operate is Wesl Norlolk and the objecb.ves of the company as set out in the Memorandum of Association are as follows: To act as a resource for your people up lo the age of 25 living in South West Norfolk by providing advice and assistance and organising programmes of physical. educational and other activities as a means of= advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent. mature and responsible individuals- advancing education- relieving unemployment- relieving sickness and promoting and protecting good mental and physical health.. providing recrealional and leisure lime activity in the interests of social welfare for people living in the area of benefit who have nee(1 by reason of their youth. age, infirmity or disability. povety or sccial and econornic circumstances with a view to improving the conditions of life of such persons. Public bènefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees consider that the full details of the public benefit have been displayéd within the review of activities. Achlevements and performance Please refer to the CEO'S feport on page 2. Flnanclal r•vlew R8s8rves policy Reserves need to be held lo enable an orderly winding down of the charity's affairs in the event that adequate funding is no longer is available. The Trustees have resolved that the Unrestricted Income and Expenditure Fund should be held at a level of between 25% and 500/0 of total annual expenditure. Al 31 March 2024. the fund held £82,876 (2023 £100.501) in unrestricted reserves. This equates to 30V¢ of our planned annual running costs for 2024125. which are budgeted to be £274.108. The trustees emergency reserve of £80.000 is also within this agreed level. at 290/0 of budgeted annual running costs for 2024125. The trustees are satisfied that these figures are in4ine with our staled policy and enable us to have the confidence lo go ahead with the planned expansion of our charitable 5UPPOrt work for the coming year.
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Swan Youth Project (Norfolk) was registered as a charity on 23 September 2011 with charity number- 1143957 as a charitable company. As such, it is also registered in England and Wales under the company fegistralion number.. 07639262. The charity is also known by other previous names and shortened versions being.. Swan Youth Project The South West Norfolk Youth Opportunities Project The Swan Youth Project (Norfolkl is governed by its Memorandum and Articles of Association which were incorporated on 18 May 2011 and as amended by special resolution registered at Companies House on 12 September 2011 with further amendments on 1 November 2019 and 25 February 2021. The trustees. who are also the directors for the purpose of company law. and who served during th8 year and up to the date of signature of the financial stslements were: HLPeak J Harris J Bagge M Bullen A Homby C Edwards (Resigned 14 June 2024) {Appointed 22 April 20241 Recruitment and appointment of trustees Members of the trustees shall be persons who through occupation, employment or otherwise have special knowledge of the area of benefit or who are olhemise able. by virtue of their personal or professional qualifications. to contribute to the pursuits of the objects of the charity. All new trustees w11 be provided with". The governing document of the charity The latest financial statements of the charily Details of the Charity Commission guidance notes The Essential Trustee - 'What you need to know. What YOU need to do" In addition, the trustees are encouraged to read Charity Commission and other nevtsletters and to attend courses designed lo keep them abreast of their duties and responsibilities. None of the trustees has any beneficial interèst in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. Training is provided to keep trustees up to date with new legislation on a regular basis. Organisational structure The charitable company is governed by a Board of Trustees of al least three trustees with no maximum numb8r. The Board of Trustees control the financial affairs of the charitable company. The day to day running of the charity is delegated to Anna Foster. the CEO of the charity. The trustees. report was approved by the Board of Trustees. HLPeak Trustee Date: .. .(.q(o*................. 10
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWAN YOUTH PROJECT (NORFOLK) LIMITED I report lo the trustees on my examination of the financial ststements of Swan Youth Project (Norfolkl Limited (the charity) for the year ended 31 March 2024. Responslbllltles and basls of report As the trustees of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance wilh the requirements of the Companies Act 2006 Ithe 2006 Act). Having satisfied myself that the financial statements of the charity are nol required to be audited under Part 16 of the 2006 Act and are eligibl8 for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under sects'on 145{5)(b) of the 2011 Act. Independent examiner's statemenl Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm thal no mattets have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act- or the financial statements do not accord with those records., or the financial staternenls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremenl that the accounts give a true and fair view which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing thèir accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no Goncerns and have come across no other matters in connection with the examination to which attention shoukl be drawn in this reFQrt in order to enable a proper understanding of the fi'nancial statements to be reached. 514ALdw FCA Mapus-smllh & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE Dated.. l..?.. 11
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restrl¢t8d funds funds 2024 2024 Tolal Unreslrlctèd Restrlcted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 59,403 31.165 976 232.505 725 291.908 31,890 976 49,433 15,048 236 175.407 27.200 224,840 42.248 236 Total income 91,544 233.230 324,774 64.717 202,607 267.324 Expenditure on: Raising funds Charitable activities 7.000 260.031 3,225 164.019 3,225 191,571 108.288 151.743 27.552 Total expenditure 108.288 158,743 267,031 27.552 167.244 194.796 Net Incomel(expenditure) (16.744) 74,487 57,743 37.165 35.363 72.528 Transfers beeen funds (881) {1,0881 1,088 Net movement in funds {17.625} 75,368 57,743 36.077 36.451 72.528 Reconciliation of funds: Fund balances at 1 April 2023 100.501 70.516 171,017 64,424 34,065 98.489 Fund balances at 31 March 2024 82,876 145,884 228.760 100.501 70.516 171,017 The slatement of financial activities includes all gains and losses recTr3nised in the year. Al income and expenditure derive from continuing activities. 12
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 13 65.870 2,962 Current assets Stocks Debtors Cash al bank and in hand 14 15 1.500 4.129 166,446 13 174,173 172,075 174.186 Credftors: amounts falling due within one year 17 (9.185) 16,131) Not currenl assets 162,890 168.055 Total assets less current Ilabllltles 228.760 171,017 Not assets excluding pension liability 228.760 171,017 Tho funds of the charity Restricted income funds Unrestricted funds 19 145,884 82.876 70,516 100,501 228.760 171,017 The company is entitled to the exemption from the audit requirement conlained in section 477 of Ihe Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge Iheir responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial ststements. The members have nol required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been preparèd in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on HLPeak Trustee Company registration number 07639262 {England and Wales) 13
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Swan Youth Project (Norfolk) Limited is a private company limiled by guarantee incorporated in England and Wales. The registered office is Swan Youth Project Norfolk. Paradise Road, Downham Market. Norfolk, PE38 9JE. 1.1 Accountlng conventlon The financial statements have been prepared in acco¥dan with the charily's Igovorning documenll, the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102.1 and the Chaiities SORP 'Accounling and Reporting by Charities: Ststemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial stalements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial stslements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the truslees have a reasonable expeGtstion that the charity has adequate resources to conts'nue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concérn basis of accoLsnling in preparing the financial statements. 1.3 Charitable funds Unrestricted fijnds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to ScIfiC conditions by donors or grantors as to how they may be used. The purposes and usés of the restricted fvnds are sel out in the notes lo the financial statements. Endowment funds are subject to specific conditions by dorK)rs that the capitsl must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entilled to il after any perfomiance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Olher donations are recognised once Ihe charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known. and receipt is expecled. If the amount is not known. the legacy is treated as a contingent asset. 14
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefil to a third paty. it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to more than one activty and support costs which are not attributsble to a single activity are apportioned behveen those activilies on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and deprecialion charges are allocated on the portion of the asset's use. 1.6 Tanglblo fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciats'on and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual valu8s over their useful lives on the following bases.. Leasehold improvements Computers Project assets Kitchen equipment Over the temi of the lease 20QA straight line 20Yo straight line 20% straight line The gain or loss arising on the disposal of an asset is determined as the differen between the sale pf¢)ceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to detennine whelher there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and. where applicable. direct labour costs and those overheads that have been inGurred in bringing the stocks to their present location and Condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing. selling and distribution. 1.9 Cash and cash equlvalents Cash and cash equivalents indude cash In hand. deposits held at call with banks, other short-lem liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in Gurrent liabilities. 15
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presenled in the financial stalements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic finanaal assets. which include debtors and s and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using Ihe effective interest method unless the arrangement constitutes a financing transaclion. where the transaction is measured at the psent value of the future reiptS discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Baslc financlal Ilabllltles Basic financial liabilities, including Gredilors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at Ihe present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amorb'sed. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations lo pay for go¢)ds or servi$ that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabililies. Trade creditors are recognised initially al transaction pri and subsequently measured at amortised cost using the effective interest methcrfj. Derecognition of financial liabilities Financial liabilities are derecognised when the GhaTity's contractual obligations expire or are discharged or cancelled. 1.11 Employee beneffts The cost of any unused holiday entiuement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.12 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 16
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounling eslimates and judgements In the application of the charity 5 accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these ests'mates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacies Unrestricted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlclod funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants 19,403 40.000 19.403 272.505 19.433 30,000 5.568 169.839 25,001 199.839 232.505 59,403 232.505 291.908 49.433 175.407 224.840 17
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income frorn donations and legacies (Continued) Unrestrlcted Restricted funds funds 2024 2024 Tolal Unroslrlctod Restrlcted funds funds 2023 2023 Total 2024 2023 Grants recelvable for core activities Borough Council of King's Lynn and West Norfolk UK Youth Awards for All Bain Associates De Laszlo Fund Garfield Weston Love Downham Shop Love Norfolk NCF Mental Health Support Sir Norman Lamb Mental Health & Wellbeing Fund West Norfolk Lives Winter Resilien Fund NCF Space Youth Fund Youth Investrnent Fund National Lottery Community Fund BCKLWN CIL HAF funding Youth Advisory Board The Kerrison Trust NCF Capital Grant Other small grants 25.000 15.000 25,000 15,000 15,000 15,000 15.000 15.000 10.000 27,689 5,000 30,000 49,650 5,000 10,000 27,689 5.000 30.000 49,650 5.000 30.000 6.Crf)O 30,000 6.OiXI 37,399 5.000 37.399 5.000 10.000 10.()JO 10.000 10.oc 20,000 5,000 7.500 20,000 5,000 7,500 15,000 18,812 15.000 18.812 20.OCKI 50.000 12.391 5.500 5.000 5,079 12,324 20,000 50,000 12,391 5,5IXI 5.000 5.079 12.324 40.000 232.505 272,505 30,000 169,839 199.839 18
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incoffle from charitable activltios Unreslricled Restrlcted funds funds 2024 2024 Totsl Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Charltable actlvltlos Incom• Subscriptions Shop for the Youth Charitable rental income Other income 1.200 5.887 1.564 22.514 1,200 5,887 2,289 22.514 385 385 7.051 7,051 725 7.997 26.815 34,812 31.165 725 31,890 15,048 27,200 42.248 Income from inveslmenls Unrostrlcted Unreslricled funds funds 2024 2023 Interest re1vable 976 236 Expendlture on ralslng funds Reslrlcted funds 2024 Restricted funds 2023 Fundraislng and publicity Seeking donations, grants and lègacies 7,000 3,225 19
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Exponditure on charitable activities Charitsblo activities Charitabl• aclivities 2024 2023 Dlrect costs Staff costs Depreciation and impairment Activity and group costs Therapy Residential costs Training cosls Light and heal Repairs and Maintenance Advertising Insurance Telephone Printing. poslage and stationery Sundry expenses Travel costs Grants and donations Shop purchases R8nt and rates 169,312 9,100 9,335 129,791 1,397 10,841 4,320 2,500 5,248 3,491 11,865 186 372 920 1.499 5.743 568 1,512 1,715 8.019 4.719 598 1.817 1.556 1,355 3,849 2.540 1.643 4,060 16.350 235.968 180,253 Share of support and governance costs (see note 8) Support Govemance 18.147 5.916 10,634 260.031 191.571 Analysls by fund Unrestricted funds Restricted funds 108.288 151,743 27.552 164,019 260.031 191,571 20
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to aclivities 2024 2023 Staff costs Depreciation Software and licences Subscriptions Bank fees Governance costs 15,797 72 1,060 764 454 5,916 6,280 72 3,571 711 24.063 11.318 Analysed between.. Charitable activities 24.063 11,318 2024 2023 Governance costs comprlse: Accountancy Legal and professional 4,116 1,800 5.916 Net movement In funds 2024 2023 The net movement in funds is ststed after chargingllcrediting): Depreciation of owned tangible fixed assets 9,172 1,469 10 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 21
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets (Continuodl Project assets include furniture, equipment and office equipmenl purchased by restricted funds for the relevant project. Office equipment is purchased specifically frjr the office and support use. 14 Sto¢k5 2024 2023 Finished goods and goods for resale 1,500 15 Debtors 2024 2023 Amounts falling due wlthin one year: Trade debtors Other debtors 4.129 13 4.129 13 16 Loans and overdrafts 2024 2023 Loans from related parties 4,306 4,856 Payable within one year 4.306 4,856 This balance relates to a loan made by a former trustee. The loan is interest free. unsecured and has no repayment terms. It is being repaid at a rate of £50 per month. 17 Credltors: amounts falllng due wlthln one year 2024 2023 Borrowings Other taxation and social security Trade creditors ArKruals and deferred income 4.306 1,526 1,115 2,238 4,856 248 1,027 9.185 6.131 22
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 18 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 1.870 857 The charity operates a defined contribution pension scheme for all qualifying efnployees. The assets of the scherne are held separately from those of the charity in an independently administered fund. 19 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Al 1 April 2023 Incoming resources Resources expended Transfors At 31 March 2024 Awards for All Bain Associales De Laszlo Fund Garfield Weston Love Downham Shop Love Norfolk No Child Goes Hungry NCF Mental Health Support Sir Norman Lamb Mental Health & Wellbeing Fund West Norfolk Lives YAB.. Mental Health Tender BCKLWN CIL HAF funding NCF Space Youth Fund Youth Investment Fund National Lottery other small funds 4.366 10,489 2,200 8,830 21.320 {4,3661 132.8141 17.2751 (8.8301 {35.8281 13.656) {1.0681 (10,000) 30.000 6.000 7,675 925 37,399 5.000 22,891 1.344 408 1,476 10.000 1,447 5.000 10.653 {1,4471 {5,0001 110,6531 (4,8881 19,6311 13.5001 12.8441 5.500 50.000 12.391 15,000 18,812 20.000 23.128 5,5 45,112 2,760 11,500 15.968 20,000 11.801 4,735 {16.943) 70.516 233,230 1158.743) 145.884 23
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Restricted funds (Contlnued) Prevlous year: At 1 April 2022 Incorning resources Resources expended Transfers At 31 March 2023 Awards for All Bain Associates De Laszlo Fund Foyle Foundation Garfield Weston Love Downham Shop Love Norfolk No Child Goes Hungry NCF Mental Health Support Norfolk Communty Foundation Sir Norman Lamb Mental Health & Wellbeing Fund West Norfolk Lives Winter Resilience Fund YAB.. Mental Health Tender Other small funds 41 8,428 1,250 816 20.135 10,000 27,689 5,000 (7.063) {25.628} {4.050) (8161 141,3051 128.3301 14,891) {673) {9,8621 1.388 4,366 10,489 2,200 30,000 49.650 5,000 8,830 21.320 (109) 2.149 1.476 10,000 1138) (41) 41 20.000 5,000 7.500 18.000 14,768 (18,553) 1.447 5,000 (7,4881 (7.3471 111.2381 (121 10.653 4,735 1.205 34.065 202.607 1167.244} 1.088 70.516 24
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Restricted funds (Continuod) The 'Other small funds. relales to retracted funds for which the income and expenditure is below £5.000 and have therefore been amalgamated for the purposes of the financial statement but separate details are retained by the charity- Awards for All fund represents monies received for the purposes of supporting our core services of Open Access Youth Groups and 1..1 support. Any surplus would be repayable but are unlikely and deficits are covered by the use of unrestricted funds. Bain Associates fund represents monies received for the purpose of delivery of our Community Liaison work; getting out lo all of our schools. groups and businesses to raise the profile of ihe charity and engage and inspire young people to attend the project. Again surpluses are unlikely and any deficit will be covered by nrestricted funds. De Laszlo fund represents monies received for the purpose of expanding and improving our fundraising. Any surplus would be repayable and deficits are covered by use of unrestricted funds. Garfield Weston Fund represents monies reiVed for the purpose of providing social and emotional support through groups and 1..1 support. Any surplus can be added to our unreslricted funds and deficits are covered by unrestricted funds. Love Downham Shop fund represents monies received towards funding the start up costs for OUT Community Shop and project Co-ordinator. Any surplus can be added lo our unreslricted funds and deficits are covered by unrestricted fLJnds. Love Norfolk fund represents monies received towards funding the charity's Family Support Servi. Any surplus can be added to our unrestricted funds and deficits are covered by unrestricted funds. No Chlld Goes Hungry fund represents monie5 received lo enable us to provide food parcels and foo(1 related learning to young people and families within our area who are in short term financial need. This will never be in surplus and deficits will be covered by unrestricted funds. Norfolk Community Foundation represenls monies received for the purposes of various projects undertaken by the charity from the NCF. Any surplus coultj be added to our unrestricted funds and deficits are overed by unrestricted funds. NCF Mental Heallh Support fund represents monies received towards funding the charivs 1..1 support sessions for mild l emerging mental heallh problems. Any surplus Gan be added to our unrestricted fvnds and deficits are covered by unrestricted funds. Slr Norman Lamb Mental Health & Wellbeing fund represents monies received for the purposes of supporting out core offer for young people. Any surplus could be added to our unrestricted funds and deficits are covered by unrestricted fund5. Wesl Norfolk Llves fund represents monies received lowards funding the charity's Open Access sessions. Any surplus could be added to our unrestricted funds and deficits are covered by unrestricted funds. BCKLWN CIL fund is for reconfiguring the building. HAF Funding to deliver holiday sessions to young people. NCF Space Youth Fund lo employ a worker to support young people at risk of anti-social behaviour. 25
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Restricted funds (Continued) Youth Investment Fund to fit a new heating system in our building, which is more environmentally friendly and cost effective. Nallonal Lott•ry is 2 years funding for core costs of our delivery. 20 Unrostrlcted funds The unreslricted funds of the charty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantor5 as to how they may be used. These include designated lunds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 100.501 91,544 1108,2881 1881) 82,876 Prevlous year: At 1 Aprll 2022 Incoming resources ResoufC•S expended Transfors At 31 March 2023 General funds 64.424 64,717 (27.5521 {1.0881 100,501 The charity aims to maintsin an emergency reserve of £80.000. lo cover annual running costs. with the balance of funds (although not restricted) bein9 designated by the trustees for projects in the forthcoming year. 21 Analysis of net assots bolween lunds Unrestrieted funds 2024 Reslrlcted funds 2024 Total 2024 At 31 March 2024". Tangible assets Current 3ssetsllliabilrties) 6,496 76.380 59.374 86,510 65,870 162,890 82.876 145,884 228.760 26
SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY- THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysls of nel assets between funds (Continued) Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl{liabilitiesl 2.962 97,539 2.962 168.055 70,516 100,501 70,516 171.017 22 Related party transactions There were no disclosable related party transactions during the year (2023 - none). 27
Thank You We are so grateful for the support of our funders and loyal supporters, we simply could not do this valuable work without you. Raising money in these tough times is particularly difficult, so we salute every person who has given their time and money to help our cause. vvvvw.swanyouthproject.org Paradise Road, Downham Market. PE38 9JE 01366 386259 Swan Project