**ANNUAL REPORT 2025/26**
Charity Number: 1143957 Private Company Limited by Guarantee: 07639262
www.swanyouthproject.org
Presented By : Anna Foster
## **Contents**
Message from our Chair of Trustees 1 CEO’s Report 2 - 6 Legal and administrative information 7 - 8 Trustees’ report 9 Independent examiner’s report 9 Statement of financial activities 10 Balance sheet 11 Notes to the financial statements 12 - 27
## **A message from our Chair of Trustees: James Bagge**
The narrative behind the Swan Youth Project is inspiring but challenging. To have such a professional and committed team caring for and nurturing some of the most vulnerable young people in Downham is truly heartening and a blessing. But it is faced with a growing demand for its services with limited resources.
Notwithstanding this, the Project has deservedly succeeded in winning many plaudits. Its reputation for the work it is doing for young people and the diligence it exhibits in reporting back to its supporters is winning praise across the county and wider afield. This is something which I, as chair, am proud to hear on a very regular basis.
Given the challenges which our young people now face, about which we have heard much recently, as a community, we need to consider how we can help and encourage young people to engage optimistically and enthusiastically with the challenges that life presents. Giving them opportunities to step outside their current comfort zones—often isolated from the world around them—and experience, even for a short time, the benefits of teamwork, earning rewards through effort, or learning new skills can be transformative. Such experiences inspire confidence and encourage them to take on further challenges.
The Swan Youth Project, led by Anna and her magnificent team, together with the essential support of our donors and supporters—for whom our gratitude is boundless—provides these opportunities alongside many other vital support services for its young members.
In recent days, I have observed young people from the Project participating in a Duke of Edinburgh Award expedition. They navigated their way three miles to their campsite, erected their tents, cooked their own meals and enjoyed a ball game that looked a little like baseball. I also attended a chess club at the Project, recently established at the initiative of one of our young members. It began with just two participants and, within three weeks, had attracted five additional members. Many of the young people involved in these activities are not attending school and rarely have opportunities to socialise away from home. It was inspiring to witness the joy, confidence and sense of achievement they were experiencing.
I am sure that other local organisations, including sports clubs, the Scouts and Guides, and various youth groups, are doing the same. Reinforcing the idea that this is a genuine community endeavour, I am encouraged that both the Mayor of King’s Lynn (2025–26) and now the Mayor of Downham Market (2026–27) have chosen the Swan Youth Project as one of their charities for the year. We are equally grateful for the support of the Young Farmers.
Our ambition now is to broaden the engagement of the entire Downham community, creating even more opportunities for our young people to develop hope, confidence and ambition for the future.
I conclude with my thanks to Anna and the team for the wonderful work they are doing, and to our funders for providing them with the support to enable them to do so.
1
## **CEO’s Report - Project Overview**
Swan Youth Project remains consistently at capacity for our services, with the demand high in all areas. We are privileged to have supported over 400 young people over the course of the last year, despite a tricky funding landscape and the many complicated issues our families bring to us daily.
We aim to enrich the lives of our young people and their families through a range of groups and 1:1 support (both Open Access and targeted). Our project is like a family, and our fabulous centre holds us all in it’s safe and welcoming space. Art work and photos fill our walls, with our young peoples personalities bursting through wherever you go.
We pride ourselves on providing positive opportunities to encourage engagement and raise aspiration. We listen to what is needed and then shape our delivery around this, constantly reflecting on our practise and services. As the landscape shifts, we are able to be agile and responsive.
## Our core services:
Open Access 3 times weekly 1:1 Support daily Family Support daily Parents Group weekly (term time) Young Carers Support daily Hygiene Bank daily More than a Bike once a week Young Persons Committee twice a week Duke Of Edinburgh Award weekly Chess Club weekly DMA Drop-in weekly BNHF Activities during school holidays
Huge amounts of our time is being taken up with safeguarding concerns about our young people and families. We are often the first port of call for a young person to disclose a worry, and how we respond is essential to how relationships move forward. We are a trusted organisation and work hard to build positive and transparent relationships with all who attend our services
We work in partnership with many other agencies, particularly our fab local schools. This has become a daily occurance over the last year, with many complicated and challenging cases needing a range of input. We know we are stonger together
2
## **Who did we help?**
- 444 young people were registered with us in 25/26 There were 7153 attendances at our Young People sessions
- Hygiene Bank was accessed 698 times Open Access was attended 3325 times Parents Groups was attended 252 times
- 1511 WhatsApp messages were sent to parents
The types of issues we are seeing include:
- Trauma
- Isolation
- Off-rolling from school
- Family Breakdown
- Boundaries
- SEND
- Anxiety
- School refusal
- Complex home situations Identity
- Young Carers
- 16% are Young Carers
- 5% are LGBTQ+ 30% are SEND
Not only do swan youth help local children, they help the whole local community. Amazing, friendly and supportive. Couldn't ask for better!
- 49% have mental health concerns
- 14% we have
- safeguarding concerns for
- 13% have trouble with attendance at school
- 10% are at risk of exclusion
- 5% are in a special school
- 4% are home educated/not in education
3
## **Annual feedback.....**
98% of young people feel safe at SYP 100% of young people feel well supported here 96% say they can ask for further support if they need it
96% say that coming to SYP helps their mental health
95% say that coming to SYP helps their confidence
81% say they feel they have a voice here
**----- Start of picture text -----**
I really like
being listened
to and
respected
**----- End of picture text -----**
I love everything! It's a place I know that I can be myself. Everyone is so amazing and I love seeing them all. Activities are so fun.
I like being able to be myself without the fear of judgement
‘The communication between school and the Swan Youth is exceptional. The Swan Youth Project brings a wealth of information about our children and families which ensures they receive the very best of care in our community. We are able to signpost parents to support at the parent groups, refer children for vital 1:1 sessions, encourage children to widen their social skills at the Open Access sessions and send our Young Carers for extra help. As a school with ever decreasing funds and resources, the support and help we receive from the Swan Centre is invaluable. We are grateful for the whole team and their amazing work every day’
Deputy Head of local Primary school
4
## Our Community is the best!
- We have been the BCKLWN Mayors Charity of the Year We were the Young Farmers Charity of the Year
- 4 of the team ran the GEAR 10K raising over 5K
- Mabel the Bakery have run numerous fundraisers and summer food package incentives for us
- Many local businesses/organisations have promoted us and provided prizes or fund raised for us
- Words and Wonder have raised funds to provide us with a beautiful library at the project
- Our Chair James, hosted an evening with Sebastian Faulkes - raising almost 2K, plus a Golf fundraiser
5
2025/26 has been an extremely busy and challenging year, showing us once again how important our project is. We are on the ground, listening to our community and responding to need. We deliver high quality services, taking pleasure and pride in everything we do. Thank-you to everyone who has supported us in every way - we see you
**www.swanyouthproject.org**
6
## **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 2026**_
## **Financial review**
## _Reservespolicy_
Reserves need to be held to 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 50% of total annual expenditure. At 31 March 2026, the fund held £132,260 (2025 £111,498) in unrestricted reserves. This equates to 44% of our planned annual running costs for 2026/27, which are budgeted to be £280,119. The trustees emergency reserve of £80,000 is also within this agreed level, at 28% of budgeted annual running costs for 2026/27. The trustees are satisfied that these figures are in-line with our stated policy and enable us to have the confidence to go ahead with the planned expansion of our charitable support work for the coming year.
## **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 registration 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 (Norfolk) 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 the year and up to the date of signature of the financial statements were:
H L Peak (Resigned 14 April 2025) J Bagge A Hornby C Edwards D Wynne (Appointed 14 April 2025) B Filby Hobbs J Wilcox O Judges (Appointed 9 February 2026)
- 7-
## **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 2026**_
## _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 otherwise able, by virtue of their personal or professional qualifications, to contribute to the pursuits of the objects of the charity.
All new trustees will be provided with:
- ·The governing document of the charity
- ·The latest financial statements of the charity
- ·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 newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
None of the trustees has any beneficial interest 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 at least three trustees with no maximum number. 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.
J Bagge
**Trustee**
Date: 06/07/2026
- 8-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) INDEPENDENTEXAMINER'S REPORT TO THE TRUSTEES OF SWAN YOUTH PROJECT (NORFOLK) LIMITED**
I report to the trustees on my examination of the financial statements of Swan Youth Project (Norfolk) Limited (the charity) for the year ended 31 March 2026.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible 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. In carrying out my examination
I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
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 I am qualified to undertake the examination because I 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 that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 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 their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Sharon Edwards, F.C.A.**
## **Mapus-Smith&Lemmon LLP**
48 King Street King's Lynn Norfolk PE30 1HE Date: ............................
- 9-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THESOUTHWESTNORFOLKYOUTHOPPORTUNITIES PROJECT) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
|**Income from:**
Donations andlegacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
**Net movement in**
**funds**
**Reconciliation of funds:**
Raising funds
Charitable activities
**6**
**7**
**Total expenditure**
**Net income/(expenditure)**
**9**
**Fund balances at 31 March**
**2026**
**Notes**
**3**
**4**
**5**
**Unrestricted**
**funds**
**2026**
**£**
**Restricted**
**funds**
**2026**
**£**
Transfers between
funds
Fund balances at1April 2025
20,762
58,589
34,654
762
94,005
2,204
71,039
73,243
20,762
111,498
132,260
-
-
189,895
128,518
190,429
-
-
190,429
3,396
248,410
251,806
(61,377)
(61,377)|**Income from:**
Donations andlegacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
**Net movement in**
**funds**
**Reconciliation of funds:**
Raising funds
Charitable activities
**6**
**7**
**Total expenditure**
**Net income/(expenditure)**
**9**
**Fund balances at 31 March**
**2026**
**Notes**
**3**
**4**
**5**
**Unrestricted**
**funds**
**2026**
**£**
**Restricted**
**funds**
**2026**
**£**
Transfers between
funds
Fund balances at1April 2025
20,762
58,589
34,654
762
94,005
2,204
71,039
73,243
20,762
111,498
132,260
-
-
189,895
128,518
190,429
-
-
190,429
3,396
248,410
251,806
(61,377)
(61,377)|**Income from:**
Donations andlegacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
**Net movement in**
**funds**
**Reconciliation of funds:**
Raising funds
Charitable activities
**6**
**7**
**Total expenditure**
**Net income/(expenditure)**
**9**
**Fund balances at 31 March**
**2026**
**Notes**
**3**
**4**
**5**
**Unrestricted**
**funds**
**2026**
**£**
**Restricted**
**funds**
**2026**
**£**
Transfers between
funds
Fund balances at1April 2025
20,762
58,589
34,654
762
94,005
2,204
71,039
73,243
20,762
111,498
132,260
-
-
189,895
128,518
190,429
-
-
190,429
3,396
248,410
251,806
(61,377)
(61,377)|**Income from:**
Donations andlegacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
**Net movement in**
**funds**
**Reconciliation of funds:**
Raising funds
Charitable activities
**6**
**7**
**Total expenditure**
**Net income/(expenditure)**
**9**
**Fund balances at 31 March**
**2026**
**Notes**
**3**
**4**
**5**
**Unrestricted**
**funds**
**2026**
**£**
**Restricted**
**funds**
**2026**
**£**
Transfers between
funds
Fund balances at1April 2025
20,762
58,589
34,654
762
94,005
2,204
71,039
73,243
20,762
111,498
132,260
-
-
189,895
128,518
190,429
-
-
190,429
3,396
248,410
251,806
(61,377)
(61,377)|**Income from:**
Donations andlegacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
**Net movement in**
**funds**
**Reconciliation of funds:**
Raising funds
Charitable activities
**6**
**7**
**Total expenditure**
**Net income/(expenditure)**
**9**
**Fund balances at 31 March**
**2026**
**Notes**
**3**
**4**
**5**
**Unrestricted**
**funds**
**2026**
**£**
**Restricted**
**funds**
**2026**
**£**
Transfers between
funds
Fund balances at1April 2025
20,762
58,589
34,654
762
94,005
2,204
71,039
73,243
20,762
111,498
132,260
-
-
189,895
128,518
190,429
-
-
190,429
3,396
248,410
251,806
(61,377)
(61,377)||**Total Unrestricted**
**funds**
**2025**
**£**
**2026**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**2025**
**£**
249,018
34,654
762
284,434
66,968
41,549
1,093
109,610
247,246
-
-
247,246
314,214
41,549
1,093
356,856|**Total Unrestricted**
**funds**
**2025**
**£**
**2026**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**2025**
**£**
249,018
34,654
762
284,434
66,968
41,549
1,093
109,610
247,246
-
-
247,246
314,214
41,549
1,093
356,856|**Total Unrestricted**
**funds**
**2025**
**£**
**2026**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**2025**
**£**
249,018
34,654
762
284,434
66,968
41,549
1,093
109,610
247,246
-
-
247,246
314,214
41,549
1,093
356,856|**Total Unrestricted**
**funds**
**2025**
**£**
**2026**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**2025**
**£**
249,018
34,654
762
284,434
66,968
41,549
1,093
109,610
247,246
-
-
247,246
314,214
41,549
1,093
356,856|**Total Unrestricted**
**funds**
**2025**
**£**
**2026**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**2025**
**£**
249,018
34,654
762
284,434
66,968
41,549
1,093
109,610
247,246
-
-
247,246
314,214
41,549
1,093
356,856|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||
|||2,204
71,039
73,243||3,396
248,410
251,806||5,600
319,449
325,049||275
75,713
75,988||6,925
201,310
208,235
7,200
277,023
284,223|
||||||||||||
|||20,762
20,762
111,498
132,260
-||-
189,895
128,518
(61,377)
(61,377)||-
301,393
260,778
(40,615)
(40,615)||28,622
82,876
33,622
111,498
(5,000)||44,011
5,000
39,011
145,884
189,895
72,633
72,633
228,760
301,393
-|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
10 -
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) BALANCE SHEET**
## _**AS AT 31 MARCH 2026**_
|**Fixed assets**
**Current assets**
Stocks
Cash at bank and in hand
**The funds of the charity**
**Creditors: amounts falling due within**
**one year**
**Net current assets**
**Total assets less current liabilities**
**14**
**15**
**17**
**18**
**Notes**
**13**
Tangibleassets
Restrictedincomefunds
Unrestricted funds|**2026**
**£**
1,465
216,706
218,171
(7,670)||**£**
50,277
210,501
260,778
128,518
132,260
260,778|**2025**
**£**
**£**
2,121
249,740
251,861
(7,821)
57,353
244,040
301,393
189,895
111,498
301,393|
|---|---|---|---|---|
||||||
||||||
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2026.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not 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 prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 06/07/2026.
JBagge
**Trustee**
- 11-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **1 Accounting policies**
## **Charity information**
Swan Youth Project(Norfolk) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Swan Youth Project Norfolk, Paradise Road, Downham Market, Norfolk, PE38 9JE.
## **1.1 Basis of preparation**
Thefinancial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements 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 Going concern**
At thetime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestrictedfundsare available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Incomeis recognised when the charity is legally entitled to it after any performance 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. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to 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 expected. If the amount is not known, the legacy is treated as a contingent asset.
- 12 -
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangiblefixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|Leasehold improvements|Over the term of the lease|
|---|---|
|Computers|20% straight line|
|Project assets|20% straight line|
|Kitchen equipment|20% straight line|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
Ateach reporting end date,the charity reviews the carrying amounts of its tangible assets to determine whether 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 incurred 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 equivalents**
Cash andcash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 13-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basicfinancial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financialliabilities,including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services 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-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financialliabilitiesarederecognisedwhen the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10Employee benefits**
Thecostofanyunused holiday entitlement 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.
## **1.11Retirement benefits**
Paymentstodefinedcontribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s 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 estimates.
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.
- 14-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **3 Income from donations and legacies**
|**Grants receivable for core activities**
**Unrestricted**
**funds**
**2026**
**£**
**Restricted**
**funds**
**2026**
**£**
Donations and gifts
Grants
Unrestricted grants
Bain Associates
De Laszlo Fund
Garfield Weston
Love Norfolk
Sir Norman Lamb Mental
Health & Wellbeing Fund
NCF Space Youth Fund
National Lottery
Community Fund
Children In Need
Duke of Edinburgh
NCF - Household support
fund
NCF - Employability
Norfolk County Council
NCF - Parents Group
NCF - Norfolk Community
Foundation
Awards for All
Alan Boswell
The Fathing Trust
Other small grants
33,589
25,000
58,589
25,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
25,000
1,645
188,784
190,429
-
50,000
6,000
-
-
-
5,000
61,663
15,000
7,149
5,000
5,000
-
-
5,000
-
-
5,000
23,973
188,785|**Total Unrestricted**
**funds**
**2025**
**£**
**2026**
**£**
**Restricted**
**funds**
**2025**
**£**
**Total**
**2025**
**£**
35,234
213,784
249,018
25,000
50,000
6,000
-
-
-
5,000
61,663
15,000
7,149
5,000
5,000
-
-
5,000
-
-
5,000
23,973
213,785
17,968
49,000
66,968
49,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
49,000
4,425
242,821
247,246
-
50,000
6,000
30,000
5,000
6,000
15,000
58,822
-
-
-
-
7,114
7,750
7,750
20,000
10,000
5,000
14,385
242,821
22,393
291,821
314,214
49,000
50,000
6,000
30,000
5,000
6,000
-
-
-
-
-
-
-
-
-
-
-
-
14,385
160,385|
|---|---|
- 15-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **4 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2026**|**2025**|
||**£**|**£**|
|**Charitable activities income**|||
|Sale of goods|-|646|
|Services provided under contract|1,920|9,240|
|Sales of services by beneficiaries|5,225|5,101|
|Charitable rental income|7,800|7,800|
|Other income|19,709|18,762|
||34,654|41,549|
**5 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2026**|**2025**|
||**£**|**£**|
|Interest receivable|762|1,093|
## **6 Expenditure on raising funds**
||**Unrestricted**|**Restricted**||**Total Unrestricted**|**Total Unrestricted**|**Restricted**||**Total**|
|---|---|---|---|---|---|---|---|---|
||**funds**|**funds**|||**funds**|**funds**|||
||**2026**|**2026**||**2026**|**2025**|**2025**||**2025**|
||**£**|**£**||**£**|**£**|**£**||**£**|
|**Fundraising and publicity**|||||||||
|Seeking donations,grants|||||||||
|and legacies|2,204|3,396||5,600|275|6,925||7,200|
||||||||||
- 16-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **7 Expenditure on charitable activities**
|**Direct costs**
**Analysis by fund**
**Share of support and governance costs (see note 8)**
Support
Governance
**Charitable**
**activities**
**2026**
**£**
**Charitable**
**activities**
**2025**
**£**
Unrestricted funds
Restricted funds
Staff costs
Depreciation and impairment
Activity and group costs
Office costs
Training costs
Light and heat
Repairs and maintenance
Advertising
Insurance
Telephone
Printing, postage and stationery
Sundry expenses
Travel costs
Grants and donations
Shop purchases
Rent and rates
206,849
7,815
23,360
451
3,962
8,692
4,417
499
2,213
1,765
1,205
6,077
918
5,630
6,343
15,738
295,934
19,397
4,118
319,449
71,039
248,410
319,449
19,311
1,860
277,023
75,713
201,310
277,023
176,997
9,092
10,424
-
2,498
10,071
9,259
933
1,996
1,696
1,451
6,364
2,097
978
6,098
15,898
255,852|**Direct costs**
**Analysis by fund**
**Share of support and governance costs (see note 8)**
Support
Governance
**Charitable**
**activities**
**2026**
**£**
**Charitable**
**activities**
**2025**
**£**
Unrestricted funds
Restricted funds
Staff costs
Depreciation and impairment
Activity and group costs
Office costs
Training costs
Light and heat
Repairs and maintenance
Advertising
Insurance
Telephone
Printing, postage and stationery
Sundry expenses
Travel costs
Grants and donations
Shop purchases
Rent and rates
206,849
7,815
23,360
451
3,962
8,692
4,417
499
2,213
1,765
1,205
6,077
918
5,630
6,343
15,738
295,934
19,397
4,118
319,449
71,039
248,410
319,449
19,311
1,860
277,023
75,713
201,310
277,023
176,997
9,092
10,424
-
2,498
10,071
9,259
933
1,996
1,696
1,451
6,364
2,097
978
6,098
15,898
255,852|**Direct costs**
**Analysis by fund**
**Share of support and governance costs (see note 8)**
Support
Governance
**Charitable**
**activities**
**2026**
**£**
**Charitable**
**activities**
**2025**
**£**
Unrestricted funds
Restricted funds
Staff costs
Depreciation and impairment
Activity and group costs
Office costs
Training costs
Light and heat
Repairs and maintenance
Advertising
Insurance
Telephone
Printing, postage and stationery
Sundry expenses
Travel costs
Grants and donations
Shop purchases
Rent and rates
206,849
7,815
23,360
451
3,962
8,692
4,417
499
2,213
1,765
1,205
6,077
918
5,630
6,343
15,738
295,934
19,397
4,118
319,449
71,039
248,410
319,449
19,311
1,860
277,023
75,713
201,310
277,023
176,997
9,092
10,424
-
2,498
10,071
9,259
933
1,996
1,696
1,451
6,364
2,097
978
6,098
15,898
255,852|**Direct costs**
**Analysis by fund**
**Share of support and governance costs (see note 8)**
Support
Governance
**Charitable**
**activities**
**2026**
**£**
**Charitable**
**activities**
**2025**
**£**
Unrestricted funds
Restricted funds
Staff costs
Depreciation and impairment
Activity and group costs
Office costs
Training costs
Light and heat
Repairs and maintenance
Advertising
Insurance
Telephone
Printing, postage and stationery
Sundry expenses
Travel costs
Grants and donations
Shop purchases
Rent and rates
206,849
7,815
23,360
451
3,962
8,692
4,417
499
2,213
1,765
1,205
6,077
918
5,630
6,343
15,738
295,934
19,397
4,118
319,449
71,039
248,410
319,449
19,311
1,860
277,023
75,713
201,310
277,023
176,997
9,092
10,424
-
2,498
10,071
9,259
933
1,996
1,696
1,451
6,364
2,097
978
6,098
15,898
255,852|
|---|---|---|---|
|||||
|||71,039
248,410
319,449|75,713
201,310
277,023|
- 17 -
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
|**8**
**9**
**Analysed between:**
**Net movement in funds**
**Governance costs comprise:**
**Support costs allocated to activities**
Charitable activities
Staff costs
Depreciation
Software and licences
Subscriptions
Bank fees
Governance costs
Independent examination
Accountancy
Legal and professional
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets|**2026**
**£**
23,515
13,773
365
3,325
1,005
930
4,117
23,515|**2025**
**£**
14,571
144
2,816
999
781
1,860
21,171|
|---|---|---|
||||
|||21,171|
||||
||**2026**
**£**
**2026**
**£**
1,890
8,180
1,890
34
2,193
4,117|**2025**
**£**
1,066
34
760
1,860|
||||
|||**2025**
**£**
1,066
9,236|
## **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:
|**2026**|**2025**|
|---|---|
|**Number**|**Number**|
|10|10|
- 18
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
|**11**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2026**
**£**
**(Continued)**
**2025**
**£**
204,395
12,205
4,022
220,622
184,477
4,426
2,665
191,568|
|---|---|
The full time equivalent of this was 6 (2025 - 7).
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
Theremunerationofkeymanagementpersonnelwas as follows:
|**Remuneration of key management personnel**
Theremunerationofkeymanagementpersonnelwas as follows:||||
|---|---|---|---|
||**2026**||**2025**|
||**£**||**£**|
|Aggregate compensation|50,058||45,542|
|||||
## **12 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **13 Tangible fixed assets**
|**Tangible fixed assets**|||||||
|---|---|---|---|---|---|---|
||**Leasehold**|**ComputersProject assets**||**Kitchen**||**Total**|
||**improvements**|||**equipment**|||
||**£**|**£**|**£**|**£**||**£**|
|**Cost**|||||||
|At 1 April 2025|67,098|2,184|6,971|4,982||81,235|
|At 31 March 2026|67,098|2,184|6,971|4,982||81,235|
|**Depreciation and impairment**|||||||
|At 1April 2025|13,420|504|6,861|1,993||22,778|
|Depreciation charged in the year|6,710|365|109|996||8,180|
|At 31 March 2026|20,130|869|6,970|2,989||30,958|
|**Carrying amount**|||||||
|At 31 March
2026|46,968|1,315|1|1,993||50,277|
|At 31 March 2025|53,678|575|110|2,990||57,353|
Project assets include furniture, equipment and office equipment purchased by restricted funds for relevant project. Office equipment is purchased specifically for the office and support use.
the
- 19 -
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
|**14**
**15**
**16**
**Stocks**
**Retirement benefit schemes**
**Defined contribution schemes**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income
Finished goods and goods for resale
Charge to profit or loss in respect of defined contribution schemes|**2026**
**£**
**2026**
**£**
**2025**
**£**
**2025**
**£**
1,465
4,840
1,033
1,797
7,670
2,121
2,747
2,783
2,291
7,821|
|---|---|
|||
||**2026**
**£**
**2025**
**£**
4,022
2,665|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 20-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **17 Restricted 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.
||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**At 31 March**|
|---|---|---|---|---|---|---|
||**2025**|**resources**|**expended**||**losses**|**2026**|
||**£**|**£**|**£**|**£**|**£**|**£**|
||-|-|-|-|-|-|
|Alan Boswell|7,500|-|(7,500)|-|-|-|
|Bain Associates|18,916|50,000|(44,622)|-|-|24,294|
|De Laszlo Fund|-|6,000|(3,926)|-|-|2,074|
|National Lottery|||||||
|Community|||||||
|Fund|26,184|61,663|(57,613)|-|-|30,234|
|Love Downham|||||||
|Shop|6,236|2,333|(7,619)|-|-|950|
|No Child Goes|||||||
|Hungry
Garfield Weston
The Fathing
Trust|733
14,880
3,750|1,645
-
5,000|(350)
(14,880)
(3,750)|-
-|-
-|2,028
-
5,000|
|NCF - Parents|||||||
|Group|2,083|-|(2,083)|||-|
|Sir Norman|||||||
|Lamb Mental|||||||
|Health &|||||||
|Wellbeing Fund
West Norfolk|5,983|-|(5,945)|-|-|38|
|Lives|||||||
|Love Norfolk|11,667|-|(9,933)|-|-|1,734|
|and Flux fund|||||||
|BCKLWN CIL|563|-|(563)|-|-|-|
|HAF funding
NCF Space|40,224
-|-
8,361|(4,888)
(6,315)|-
-|-
-|35,336
2,046|
|Youth Fund
Youth|12,976|5,000|(17,976)|-|-|-|
|Investment|||||||
|Fund
National Lottery
Norfolk|14,194
10,000|-
-|(1,774)
(10,000)|-
-|-
-|12,420
-|
|Household|||||||
|Support Fund
NCF|-|5,000|(4,969)|-|-|31|
|Employability|||||||
|NCF Freebridge|-|5,000|(5,000)|-|-|-|
|NCF Mercers|-|2,500|(2,500)|-|-|-|
|BBC Children in|-|2,181|(2,181)|-|-|-|
|Need|||||||
|Duke of|-|15,000|(12,500)|-|-|2,500|
|Edinburgh|||||||
|Greening our|-|9,094|(6,580)|-|-|2,514|
|communities|||||||
||-|5,000|(1,822)|-|-|3,178|
- 21-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT)**
## **NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **17 Restricted funds**
## **(Continued)**
- - - - RWHA Charity 3,000 (3,000) Other small funds 14,006 3,652 (13,517) - - 4,141 - - 189,895 190,429 (251,806) 128,518
- 22 -
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
|**17**|**Restricted funds**||||||**(Continued)**|
|---|---|---|---|---|---|---|---|
||**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**At 31 March**|
|||**2024**|**resources**|**expended**||**losses**|**2025**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
||Alan Boswell|-|10,000|(2,500)|-|-|7,500|
||Bain Associates|7,675|50,000|(38,759)|-|-|18,916|
||De Laszlo Fund|925|6,000|(6,925)|-|-|-|
||Norfolk County|||||||
||Council|-|7,114|(7,114)|-|-|-|
||National Lottery|||||||
||Community|||||||
||Fund|-|58,822|(32,638)|-|-|26,184|
||Love Downham|||||||
||Shop
Love Norfolk
No Child Goes|22,891
1,344|12,400
-|(29,055)
(1,344)|-
-|-
-|6,236
-|
||Hungry|408|1,125|(800)|-|-|733|
||Garfield Weston|-|30,000|(15,120)|-|-|14,880|
||The Fathing|-|5,000|(1,250)|-|-|3,750|
||Trust|||||||
||NCF - Parents|-|7,750|(5,667)|-|-|2,083|
||Group|||||||
||Sir Norman|||||||
||Lamb Mental|||||||
||Health &|||||||
||Wellbeing Fund|||||||
||West Norfolk|-|6,000|(17)|-|-|5,983|
||Lives|||||||
||Love Norfolk|-|20,000|(8,333)|-|-|11,667|
||and Flux fund|||||||
||YAB: Mental|-|5,000|(4,437)|-|-|563|
||Health Tender|||||||
||BCKLWN CIL|5,500|-|(5,500)|-|-|-|
||HAF funding
NCF Space|45,112
2,760|-
-|(4,888)
(2,760)|-
-|-
-|40,224
-|
||Youth Fund
Youth|11,500|15,000|(13,524)|-|-|12,976|
||Investment|||||||
||Fund
National Lottery
Other small|15,968
20,000|-
-|(1,774)
(10,000)|-
-|-
-|14,194
10,000|
||funds|||||||
|||11,801|13,035|(15,830)|5,000|-|14,006|
|||145,884|247,246|(208,235)|5,000|-|189,895|
- 23 -
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **17 Restricted funds**
## **(Continued)**
The 'Other small funds' relates 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.
**AlanBoswell** fund represents monies received for core costs for Love Downham shop (staff/utilities/running costs)
**Bain Associates** fund represents monies received for the purpose of delivery of our Community Liaison work; getting out to all of our schools, groups and businesses to raise the profile of the charity and engage and inspire young people to attend the project, Again surpluses are unlikely and any deficit will be covered by unrestricted 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.
**NorfolkCounty Council Community Fund** represents monies received to fund a sport coach in our Junior Youth Group,
**National Lottery Community Fund** represents monies received for supporting young peoples mental health :1sessions.
**Love Downham Shop** fund represents monies received towards funding the start up costs for our Community Shop and project Co-Ordinator. Any surplus can be added to our unrestricted funds and deficits are covered by unrestricted funds.
**Love Norfolk** fund represents monies received towards funding the charity's Family Support Service. Any surplus can be added to our unrestricted funds and deficits are covered by unrestricted funds.
**No Child Goes Hungry** fund represents monies received to enable us to provide food parcels and food 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.
**Garfield Weston** Fund represents monies received for the purpose of providing social and emotional support through groups and 1:1 support. Any surplus can be added to our unrestricted funds and deficits are covered by unrestricted funds.
**The Fathing Trust** fund represents monies received for us to deliver Family Support and 1:1 support to young people and their families.
**NCF - Freebridge** fund represents monies received for our Parents Group on a Tuesday morning.
**Sir 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 funds.
**West Norfolk Lives** fund represents monies received towards funding the charity's Open Access sessions. Any surplus could be added to our unrestricted funds and deficits are covered by unrestricted funds.
**LoveNorfolkandFlux** fund represents monies received for supporting young people with work readiness and work experience.
**NCF Mental Health Support** fund represents monies received towards funding the charity's 1:1 support sessions for mild / emerging mental health problems. Any surplus can be added to our unrestricted funds and deficits are covered by unrestricted funds.
- 24-
## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **17 Restricted funds**
## **(Continued)**
**BCKLWN CIL** fund is for reconfiguring the building.
**HAF Funding** to deliver holiday sessions to young people.
**NCF Space Youth Fund** to employ a worker to support young people at risk of anti-social behaviour.
**Youth Investment Fund** to fit a new heating system in our building, which is more environmentally friendly and cost effective.
**National Lottery** is 2 years funding for core costs of our delivery.
**Norfolk Household Support Fund:** Support for vulnerable people, through vouchers for our Love Downham shop.
**NCF Employability:** To deliver employment support to young people at risk of NEET.
**NCF Freebridge:** To fund the continuation of our Parents Group.
**NCF Mercers:** Sport activity funded within Thursday Open Access.
**BBC Children in Need:** 1:1 support for mental health.
**Duke of Edinburgh:** Funding to support the set up of D of E plus the licence fee and participation spaces.
**Greening our Communities:** Funding to pay for a gardener to design and develop our outdoor space and inspire our young people to garden.
**RWHA Charity:** Funding for our residential trip.
## **18 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|
||**2025**|**resources**|**expended**||**2026**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|111,498|94,005|(73,243)|-|132,260|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
||**2024**|**resources**|**expended**||**2025**|
||**£**|**£**|**£**|**£**|**£**|
|General funds|82,876|109,610|(75,988)|(5,000)|111,498|
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## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT) NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **18 Unrestricted funds**
## **(Continued)**
The charity aims to maintain an emergency reserve of £80,000, to cover annual running costs, with the balance of funds (although not restricted) being designated by the trustees for projects in the forthcoming year.
## **19 Analysis of net assets between funds**
||**Unrestricted**|**Restricted**||**Total**|
|---|---|---|---|---|
||**funds**|**funds**|||
||**2026**|**2026**||**2026**|
||**£**|**£**||**£**|
|**At 31 March 2026:**|||||
|Tangible assets
Current assets/(liabilities)|1,315
130,945|48,962
79,556||50,277
210,501|
||132,260|128,518||260,778|
||**Unrestricted**|**Restricted**||**Total**|
||**funds**|**funds**|||
||**2025**|**2025**||**2025**|
||**£**|**£**||**£**|
|**At 31 March 2025:**|||||
|Tangible assets
Current assets/(liabilities)|685
110,813|56,668
133,227||57,353
244,040|
||111,498|189,895||301,393|
## **20 Operating lease commitments**
## **Lessee**
Atthereporting enddate thecharity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years
In over five years|**2026**
**£**
**2025**
**£**
19,600
9,600
21,600
50,800
24,600
48,400
2,400
75,400|
|---|---|
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## **SWAN YOUTH PROJECT (NORFOLK) LIMITED (FORMERLY - THE SOUTH WEST NORFOLK YOUTH OPPORTUNITIES PROJECT)**
## **NOTESTOTHE FINANCIALSTATEMENTS(CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2026**_
## **21 Events after the reporting date**
In June 2026, the difficult decision was made to close our Love Downham shop. Funding has become more difficult to obtain in recent years and the decision has been made to prioritise the Swan Youth Project for which there is currently a waiting list for many of the services we provide. The estimated cost to close the shop is between £5,000 and £10,000.
## **22 Related party transactions**
There were no disclosable related party transactions during the year (2025 - none).
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