The Feast Youth Project (a Company Limited by Guarantee) Trustees, Report and Financial Statements for the year ended 31 March 2024 Registered Company number 07988467 Registered Charity number 1146574
Trustees, Report and Financial Statements for the year ended 31 March 2024 Index Page Report of the Trustees 3-10 Statement of Trustees Responsibilities Report of the Independent Examiner 12 Statement of Financial Activities (incorporating an Income & Expenditure Account) 13 Balance Sheet 14 Principle accounting policies 15-16 Notes to the financial statements 17-24
Trustees, Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees The Trustees, who are also the directors for the purposes of company law, are pleased to present their annual report together with the financial statements of the charitable company for the year ended 31 March 2024 which are also prepared to meet the requirements of a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102) (updated 1 January 2019). Objectives and activities Charitable Objects The Feast exists to help young people of different faiths, beliefs and cultures to live well in an increasingly diverse and divided world. It is our aim to foster good citizenship for the public benefit amongst young people, by.. a) Nurturing religious harmony consistent with Christian principles, through the raising of awareness of both the distinctive features and common ground present in the religious beliets held amongst young people of different faiths., b) Promoting knowledge and mutual understanding and respect of the beliefs and practices of different religious faiths, through facilitating formal and informal encounters and education opportunities amongst young people of different faiths, c) Providing support and training to those who work with and amongst young people, in particular but not exclusively to better enable them to promote cohesion and mutual respect of each other and their wider communities. We have referred to the guidance contained in the Charity Commission's general guKlance on public benefit when reviewing our aims and objectives and in planning our future activities. Vlsion The Feast will be a leading, faith-based, youth-centred movement, with increased numbers of young people impacted by The Feast across the United Kingdom, particularly in urban areas which have high levels of deprivation, where young people often face the highest range of challenges from segregation and isolation. We will enable young people to be more resilient to gangs and radicalisation alongside raising aspirations leading to increased engagement at school and in their communities, increased engagement in their faith and overall improvement in their life chances as adults. Purpose To see resilient young people who are confident in their beliefs and identty, able to build meaningful friendships with people who are different to them, comfortable to discuss faith and challenging issues and committed to living well with their neighbours to work together for the good of society. Operational Prlnciples The Feast operates by the following Christian principles: A belief that all people are made by God and are equally valuable, and therefore we have a duty to befriend, see and care for those we meet regardless of ra, faith or gender. A commitment to the, teaching that we should love our neighbours as ourselves whoever they might be.
Trustees, Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees continued Achievements and performance Introductlon 202312024 was an excits'ng time of consolidation and growth for The Feast. The teams in each region saw an increase in both the number of young people engaging with The Feast and an increase in the number of The Feast Encounters, the name given to events where young people from different faiths, beliefs, ethnicity and backgrounds come together for dialogue, fun and food. We have been delighted to see so many of our young people becoming young leaders and volunteers, following their own journey with The Feast, and making a difference in the lives of the new young people who have joined us over the year. Our new three-year strategy, Living Well With Difference, was launched this year, putting young people and encounters right at the heart of everything we do, renewing our focus on the importance and impact of our work. Each region has become wellombedded in its local community, with more connections and partnerships being made. The Birmingham Team was renamed the West Midlands Team to reflect the growing area in which they work, particularly in schools, across the lon. Thanks to the continued, careful management of our funds and a focus on securing unrestricted funding, the trustees are pleased to report that, despite the challenges faced by many small charities, there continued to be a stabilisation in the overall income in the 202312024 financial year. The Trustees are pleased to report the achievements and success of the last year and are confident that The Feast is more than able to continue to deliver its high-quality and much-needed work. Achlevements This year The Feast teams have received several requests to deliver our programmes in school. Surprisingly, we have seen an increase in the number of primary schools wanting our services, particularly in the West Midlands. Schools recognise that the Guidelines for Dialogue can make a huge difference to the way their pupils interact with each other. World and national events have seen an increase in conflict and violence and our prograrnmes have been recognised to make a significant difference. Requests for training for school staff have also increased; one headteacher commented, after the staff training,. "This is exactly what we needed." Work in one primary school saw our workshops described by Ofsted as 'pioneering'. The number of adults trained in the use of the Guidelines for Dialogue and The Feast programmes continues to rise as we focus on training more people to deliver the Guidelines ft)r Dialogue in their context. With the advantages of online working we have delivered training and workshops in other countries and hosted people from Denmark, Germany and Sweden this year. It is exciting to see how the impact of our work is increasing. This year we have trained.. Teachers Chaplains Youth Workers Faith leaders Students Sports Coaches Interfaith groups
Trustees, Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees (continued) Outcomes Young people worked wrth directly - 2,165 Youth Encounter Programmes- 102 Young people participating in Youth Encounter programmes- 1,031 Adults trained in the use of The Feast's Guidelines for Dialogue and approach - 642 International Work The Feast continues to connect with people in several countries in relation who are seeking to work with teenagers of different faiths and backgrounds. We continue to support the work of Khebz w Meleh in Lebanon through regular contact with the staff. Due to the increasing difficulties facing that country the work has decreased but continues nonetheless in very difficult circumstances. In February we had a visit from Marie and KLibra, two students from Copenhagen who were wanting to use The Feast as a case study for their dissertation. Through connections made via the Church of England in Birmingham we have been in touch with church leaders who are keen to work with Marie and Ktsbra to set up something similar to The Feast there. We have continued to have contsct with The Children of Abraham Coalition in Chicago and ran a joint online conference in 2024 IcK)king at how far right groups groom young people online. This was attended by people from four different countries. We are planning to run something similar in 2025. Reflections It is ahvays the case thatour highlights are centred around the young people with whom we work. Seeing them grow in confidence as they learn how to have meaningful dialogue with one another and seeing the friendships that grow out of these encounters is simply the best. Being in the midst of the work means that we often don't fully realise the impact of the incredible work done by our teams. Dr. Dan Range, our researcher from Centre for Trust, Peace and Social Relations at Coventry University has worked closely with us for nearty 5 years. In his report this year he looked specifically at the impact of our holiday encounter programme.. "Key attitudinal and behavioural outcomes of ffhe Feast's} programme here include.. 97. 20A of part1panIS have had a positive experien with people from a diffeTrnt background to them. 91. 4°A of participants feel that they would be more comfortable in talking to someone of a different background to them. 82.4Yo of participants feel more confident in building friendships with people who have a drferent faithlbelief to them. 78. 8Yo ofparticipants believe that they are more likely to challenge someone that theYpeOallY know if they expressed a negative view of someone because they were from a different background. The data shows that these tangible attitudinal and behavioural outcomes have been achieved by a programme that young people enjoy and value, and that the outcomes of the work go far beyond what takes pla in the sessions and encounters themselves. Participants have established friendships with ofhers involved in the progr3mme whh now exist independently of it, and a number of those who have grown up attending Ifhe Feast} arn either now volunteering, or hoping to volunteer, with it." Partnerships and Support During this financial year the following organisats'ons have assisted The Feast in delivering our sepiices through partnering in youth work, provision of office or youth spa, or other forms of practical or in-kind support, and we would like to express our heartfelt thanks". Christ Church, Sparkbrook, Birmingham St Mary's Church, Luton Hope Church, Luton Luton Roma Trust
Trustees. Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees (Continued) Guru Nanak Gurdwara, Luton Luton Council of Faiths Bethnal Green Mission Church, Tower Hamlets East London Mosque, Tower Hamlets London Buddhist Centre, Tower Hamlets, Sandy's Row Synagogue, Tower Hamlets Growth Night Shelter, Tower Hamlets Trapped in Zone One Faith and Belief Forum Footsteps, Birmingham Flnanclal review Fundralslng The Feast pursues and receives funding from a diverse range of sources, including individual donors, earned income through service level agreements and contracts, and grants from both siatutory bodies and charitable trusts and foundations. The Trustees, staff and volunteers of The Feast wish to express our gratitude to all our supporters who enabled us to continue our work with young people over the past year. The level of grants and donations, including associated gift aid recoverable, received during this year was £178,154, a slight decrease from the previous year by 2.40/0. Specific funding that deserves mention.. The Merchant Taylors. Foundation continues to be an amazing supporter of the work of The Feast. We are now in the fourth year of a five year grant which covers the cost of the full time hub manager. This means that the work in Tower Hamlets continues to grow and many more young people are benefitting from The Feast programmes. We have been supported far more than financially, with a number of Members volunteering with us and opportunities given to showcase the work of The Feast. We are so grateful for this partnership. The National Lottery Communlty Fund This year saw the end of the three-year grant which had funded Bimingham Holiday Programmes. We are delighted that The Feast in the West Midlands has now been awarded a five-year grant, entitled Youth Encounter Programme, to continue the work of the Holiday Programme, to run our annual residential, to develop our young leaders programme and run additional encounters throughout the year. This substantial grant is the largest The Feast has received in its 14 year history and we are so grateful to our partners at the lottery who have encouraged and supported us to apply. St. Peter's, Saltley Trust are supporting The Feast through generous funding to build the training work of The Feast. Due to their supportwe trained over 600 people during this financial year and plan to double that number in the next financial year. Summary of the year Total income from general or unrestricted funds was £31,945 (2023.. General income of £74,723). Related expenditure was £50,898 (2023: General expenditure of £54,197). Overall there was a net deficit on general funds of £18,953, (2023: net surplus of £20,526). General reserves at 31 March 2024 were 31,841 (2023: £54,494).
Trustees, Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees (Continued) Total restricted incomewas £146,209 (2023.. £107,796). Related expenditure was £124,124 (2023.. £129,254) Funds were received trom a number of sources and towards various projects and are detailed later in the accounts. The balances of the individual restricted funds are also shown in the notes. The total amount carried forward to be spent in the coming year is £90,665 (2023.. £64,880). Reserves Policy The Feast is currently dependent on multiple donations and grants to sustain its activities, as earned income alone would not allow The Feast to continue operating. This means that if there were to be a shortfall in donations and grants it is likely that The Feast would have to reduce rts activities and eventually close down. To ensure continuity of operakn'ons if funding difficulties were to occur the Feast Trustees have agreed to operate a certain level of financial reserves and confirmed future grants and donations to ensure that its main operations can continue for a period of at least 6 months. The Trustees aim is for this to include 3 months, worth of operational costs in unrestricted funds. Ordinarily the Trustees would not expect to have reserves at a level that is greater than 1 year of operations. Based on the results to 31 March 2024 the target level of free resepies required would be approximately £36,000. Free reserves at that date were approximately £31,841. The Trustees, through the Finance Committee, continue lo clOlY monitor the position and regularly update the forward view to ensure that committed costs can continue to be met. Having approved a 3-year strategy in September 2023, the Trustees continue to regularly monitor income, expenditure and fundraising results against this plan. The plan sets out targets over the 3 years that will help The Feast to move towards a sustainable level of operations to both achieve the strategic aims of the charity and to fully achieve the Reserves Policy and so mitigate any funding risks coming from mostly one income stream. Internal Financial Controls The systems of intemal control are designed to provKle reasonable assurance against material misstatement or loss. They include: An annual budget and operational plan approved by the Trustees. A number of matters are specifically reserved for the Trustees, approval. There is a clear organisational structure with appropriate lines for reporting. Regular consideration by the Trustees of financial results, variance from budgets, non-financial performance indicators and benchmarking reviews. Policy documents covering major strategic and operational acb'vities which have been developed and are reviewed with appropriate regularity and consultation. Budgets and financial activities which are monitored by the National Development Manager of The Feast with the Senior Leadership Team. During the past year, the Board of Trustees and National Director continued to review the financial situation regularly and implemented further measures to ensure that the charity is working towards a more resilient financial position with adequate unrestricted reserves. These include.. A reduction in expenditure, induding management structure. A strategy for increasing income, including from new income streams. Board approved out-of-budget expenditure principles. A Financial Dashboard that includes monitoring of unrestricted and restricted income and expenditure. A 3-year plan to enable its 3 Year Strategy "Living Well With Difference" to be achieved.
Trustees. Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees (Continued) Identification and management of risks The Trustees have delegated day to day responsibility for the management of risks to the National Director of The Feast who reports to the trustees bimonthly. An ongoing risk management process assesses business risks and implements risk management strategies. This involves identifying the types of risks the charity faces. prioritising them in terms of potential impact and likelihood of occurren, and identifying means of mitigating the risks. The Risk Register which was revised in 201912020 for The Feast is updated every two months by the National Director and reviewed by the Senior Leadership Team and the Board of Trustees. The Trustees have developed systems to respond quickly to evolving risks arising from factors within the charity and to changes in the external environment, including procedures for reporting failings immediately to appropriate levels of management and the Trustees, together with details of corrective action being undertaken. Structure, governance and management Governance The Feast Youth Project (operating as The Feast) is a charitable company limited by guarantee and was set up by a Memorandum and Articles ofAssociation, incorporated on 13 March 2012. This is the successor body of The Feast (Charity number 1128036), which was founded on 12 February 2009. Decisions concerning The Feast are made by the Board of Trustees, based in Birmingham. who meet six times a year. New Trustees are appointed by decision of the current Trustee body. Trustees are appointed to a four year term of office. The Board are advised by bwo standing committees who are appointed by the Board and responsible for working with the National Director and the Senior Leadership Team (SLT). These are the Finance Committee, to propose, monitor and evaluate the finances of The Feast, and the Staffing Committee to make commendations on and review matters of employment, HR and management of employees. The Board has at tirnes also set up ad hoc working groups of Board members and staff to consider particular issues that arise. Organlsational Structure The Feast's structure consists of a National offi in Birmingham, and two further regional locations where we undertake youth work through staff and volunteers, namely Luton and Tower Hamlets. The Management of the charity is undertaken by the Senior Leadership Team, led by the National Director. The members of this team relate directly to the board of trustees through the sub committees and a written report to each trustees meeting. The whole staff meet fortnightly on Teams while the SLT meet monthly with a mix of face-to-face and Teams meetings. The National Office includes the Administrator (part-time) and Finance Officer (contracted) and the National Director. The National Offi, working closely with all members of the SLT helps manage the work of the project, including fundraising, financial management, HR. communications support and administration of the charity. The three diverse locations around UK where we operate include the West Midlands. Tower Hamlets in East London and Luton in Bedfordshire. In each of the regional l¢)cations the local advisory groups (which operate under Terms of Reference agreed by The Board), provide support and local oversight and advi to the staff. The changes that have occurred to our structure over this financial year include the following.. The appointment of the National Director.
Trustees, Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees (Continued) Volunteers The Feast would not be able to operate and reach the number of young people we do without our wonderful volunteers. Volunteers continue to play vital roles in the National Office and regional teams, through planning and implementing youth encounters, grant research and bid writing, volunteer and youth work management, fundraising, event planning and administration. Risk Management The Board regularly review the risks to which the Project is exposed. Procedures are in pla to ensure the compliance with health and safety, safeguarding and staff policies. We are also subject to due diligence exercises undertaken by those providing grants and support to the Project for its work. Delegated authorlty The Feast Board delegates day-to-day operational management of the organisation to the National Director. The broad areas of delegation, for which they are accountable, are set out in the Memorandum and Articles of Association and the Scheme of Delegations. The SLT meets regularly and includes.. the National Director, the National Administrator and the Development Managers for each of the three operational locations (West Midlands, Luton and Tower Hamlets). Public Beneflt The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, when reviewing their aims and objectives and in planning future activities. In particular, the Trustees have considered how planned activities will contribute to the aims and objectives that they have set.
Trustees, Report and Financial Statements for the year ended 31 March 2024 Report of the Trustees (Continued) Reference and administrdtive detalls Reglstered charity name The Feast Youth Project Charlty registration number 1146574 Company registration number 07988467 Principal office and registered Christ Church office 32 Farm Road Sparkbrook Birmingham B111LS The trustees Canon Dr A Smith Mr D Alcock Mr M Bull (Treasurer) Ms S Proctor (Vice Chair) Rev. W. Simmonds (Appt 22.03.23) Rev B Thomas Mr Simon Slater Rev Toby Crowe Independent examlner Karen Hanlan 1 Saracen Close, Ettington, Warwickshire, CV37 7SZ Bankers The Cooperative Bank plc 1 Balloon Street Manchester M4 4BE Small company provlslons This report has been prepad in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 17 September 2024 and signed on behalf of the board of trustees by: Canon Dr A Smith Chair of Trustees 10
Trustees, Report and Financial Statements for the year ended 31 March 2024 Statement of Trustees, Responsibilities The trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the surplus or deficit incurred by the charitable company for that year. In preparing those financial statements the trustees are required to: select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to exist. The trustees have overall responsibility for ensuring that the charitable company has an appropriate system of controls. financial and otherwise. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that.. the charitable company is operating efficiently and effectively; its assets are safeguarded against unauthorised use or disposition., proper records are maintained and financial information used within the charity or for publication is reliable; the charitable company complies with relevant laws and regulations.
Trustees, Report and Financial Statements for the year ended 31 March 2024 Independent Examiner's Report to the Trustees of The Feast Youth Project ('the Charitable Company,) I report to the charity trustees on my examination of the accounts of the Charitable Company for the year ended 31 March 2024 which are set out on pages 13 to 24. Responsibilities and basis of report As the trustees of the Charitable Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinevs statement 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". accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 386 of the 2006 Act other than the requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland {FRS102). I have no concerns and have come across no matters in connection wrth my examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs. K Hanlan, ACA Karen Hanlan Independent Examiner Limited 1 Saran Close Ettington CV37 7SZ Date.. 17 September 2024 12
Trustees, Report and Financial Statements for the year ended 31 March 2024 Statement of Financial Activities (including an Income & Expenditure account) Un- restricted Restricted funds funds 2024 2024 Totsl funds 2024 Total funds 2023 Note Income: Donations & legacies Charitable Activities Trading Activities Investments - bank interest Total income 25.716 87,290 113,006 177,268 58,919 58,919 4,834 4,834 5,251 31.945 146,209 178,154 182,519 Expenditure: Raising Funds Charitable Activities 20,189 30,709 20,189 605 124,124 154,833 182,846 Totsl expenditure 50,898 124,124 175.022 183,451 Net (expenditurey income 118.953) 22,085 3,132 (9321 Transfers between funds {3,700) 3,700 Net movement in funds after transfers (22,653) 25,785 932 Reconciliation of funds: Total funds brought forward 64 880 119 374 120,306 Total funds carried fOard 31,841 90,665 122,506 119,374 The statement of financial activities includes all gains and losses CogniSed in the year. All income and expenditure derive from continuing activities. Transfers relate to restricted funds received in 2023 that were incorrectly dassified as unrestricted funds. 13
Trustees. Report and Financial Statements for the year ended 31 March 2024 Balance Sheet Notes 2024 2023 Current Assets Debtors Cash at bank and in hand 12,884 119041 515 122,872 131925 123 387 Current Liabilities Creditors: amounts falling due within one year 9.419 4,013 Net current assets 122 506 119,374 Net assets 122 506 119,374 Funds of the charlty: Restricted Funds Unrestricted Funds 90,665 64,880 Total charity funds 122 506 119,374 The accompanying accounting policies and notes ft)rm part of these financial statements. Registered Company number.. 07988467 For the year ended 31 March 2024 the company was entitled to exemption from audit under sects'on 477 of the Companies Act 2006 relating to small companies. Responsibilities of directorsltrustees.. {a) The members have not required the charitable company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006 - however, in accordance with section 145 of the Charities Act 2011 the financial statements have been examined by an independent examiner whose report appears on page 12. Ib) The directorsltrustees acknowledge their responsibility for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Approved by the Trustees and signed on their behalf by.. Canon Dr A Smith Chair of Trustees Date: 17 September 2024 14
Trustees, Report and Financial Statements for the year ended 31 March 2024 Principal accounting policies ststus of the company The charitable company is limited by guarantee and does not have share rApital. The liability of members is limited to £1 per member. The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)(updated 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The Feast Youth Project meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Having satisfied the criteria as defined by paragraph 1.12 of FRS 102 the charitable company is exempt from the requirement to prepare a cash flow statement. Judgements & key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no judgements (apart from those involving estimations) that management has made in the prOsS of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made conceming the future and, by their nature, will rarely equal the related actual outcome. However, there are no key assumptions and or other sources of estimation UnrtaintY thal have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities within the next financial year. Going concern statement The financial staternents have been prepared on a going Conrn basis which assumes that the Charitable Company will continue to operate. The validity of this assumption is dependent upon the continuance of support from the Charitable Company's key funders and stakeholders and in response to the progress made by the Company in pursuing a viable budget including the obtaining of further grants and other funds. The Charitable Company's business plan shows that it will be able to operate in the foreseeable future. Based on this understanding, the director trustees believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments, which would result from the basis of preparation being inappropriate. 15
Trustees, Report and Financial Statements for the year ended 31 March 2024 Principal accounting policies (Continued) Fund accounting Unrestricted funds are available for use at the dISction of the trustees to further any of the charity's purposes and include funds designated for a particular purpose; the use of such funds remains at the discretion of the trustees. Restricted funds are funds subject to conditions imposed by the donor or by specific terms of the appeal under which the funds are raised. The restrictive conditions are binding upon the charitable company. Income Items of income are recognised and included in the accounts when all of the following criteria are met: The charity has entitlement to the funds", any performance conditions attached to the item{s) of income have been met or are fully within the control of the charity- there is sufficient certainty that receipt of the income is considered probable. and Ihe amount can be measured reliably. Donated services and facilities are included at the value to the charitable company where this can be quantified. The value of services provided by volunteers has not been included in Ihese accounts. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes the direct costs of projects and activities undertaken to further the purposes of the charity and their associated support & governance costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discounl offered. Prepayments are valued at the amount prepaid afler taking account of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nomially recognised at their settlement amount after allowing for any trade discounts due. Taxation As a registered charity no provision is considered necessary for taxation. Pensions The charity contributes into a Group Pension Plan for employees provided by the Peoples Partnership. This pension plan is defined contribution in nature and as required under FRS102 the annual cost is recognised as incurred and included in the Statement of Financial Activities. 16
Trustees, Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements 1. Donations & legacies Total funds 2024 Unrestricted Restricted funds funds General donations Income tax recoverable Grants Government grants 20,821 2,895 2,000 20,821 2,895 89,290 87,290 25,716 87,290 113,006 Total funds 2023 Unrestricted Restricted funds funds General donations Income tax recoverable Grants Government grants 37,308 4,783 23,000 4,381 37,308 4,783 107,796 130,796 4,381 107 796 177 268 2. Charitable Activities Total funds 2024 Unrestricted Restricted funds funds Grants for programmes: National Lottery Community Fund Wesl Midlands Police & Crime Commissioner 50,719 8,200 50,719 8,200 3. Trading Activities 2024 2023 Unrestricted funds Fundraising events School fees and similar 1,574 3,260 393 4.858 4,834 5,251 17
Trustees, Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements (continued) 4. Fundraising Costs 2024 2023 Staff costs Event costs Other office costs 18,909 1,068 212 310 295 Total 20,189 605 5. Expenditure on Charitable Activities 2024 2023 Direct Charitable expenditure.. Staff costs Freelance workers Staff recruitment & training Rent Insurance Travel Legal & professional fees Telephone Other office costs Evenuactivity costs Bank charges Governance costs.. Independent Examiners fee 117,753 8,286 477 5,350 951 754 3,120 183 3,721 12,594 144 141,586 50 4,800 1,485 1,462 10,857 269 4,913 15,980 144 1,200 Total 154.833 182,846 Expenditure on charitable activities includes £124,124 on restricted funds {2023.. £129,254> 6. Analysis of staff costs, trustee remuneration and expenses 2024 2023 Salaries National Insurance Pension costs 124,543 3,676 8,443 125,424 7,439 8,723 Total 136,662 141,586 The Charitable Company employed an average of 6.25 (2023: 6) staff during the year. No employees had benefits in excess of £60,000 {2023.' nil). Pension costs are allocated to activities in proportion to the related staffing costs incurred. No expenses were reimbursed to Trustees during the year {2023: nil). 18
Trustees. Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements (continued) The key management personnel of the charity comprise the trustees and the National Director. Trustees re1ve no remuneration or other benefrts from the charity. The pay of key management personnel for the year was £41,306 (2023: £34,604), including employer pension contributions. 7. Debtors 2024 2023 Trade debtors Prepayments Income receivable 9,240 2,291 450 65 515 8. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals Deferred Income - advance payments for events Social security & other taxes other creditors 80 2,154 3.240 3,340 605 164 471 1,966 1,412 19
Trustees, Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements (continued) 9. Restricted funds Movement in Funds Balance At beginning ear Balance At end of ear 2024 Income Ex nditure Transfers Restricted Funds Awards for All 2,239 8,412 Funding forHolKlay Pmgramme in Tower Hamlets for Feb 24- A 2024 St. Peter's, Saltley Trust (2,239) 8,412 5,000 15,000 Annual funding for the Tr8nsfom7ing Dialogu& Hub, Wesl Midlands Jan 2021- Dec 2026 Merchant Taylors Foundation (15.000) 5,000 32.500 35,000 Annual fUrIng for Tower Hamlets Hub Jan 2021- Dec 2026 Methodist Church - Connexional grant (39,327) 28,173 5,961 {5,961) N8lional funding forpartnering ¥wth and SUPPDrting Methodist Youth WO J8n 2017- sent Edwards Cadbury Trust 300 Funding lorinlergeneralion81pmi6d in Wesl Mid18nds Grantham Yorke (300) 476 5,000 Funding lor Wesl Midl8TrYs lo Schools wort( J8n 24- Dec 24 Wixamtree Funding for Luton Holidayprogr8mme Aug 2024 National Lottery (3) L8sI yearof 3 ysargrnnt for West Mid18nds Holida mme (2,067) 3,409 2,850 {2,850) 1,500 (1,500) Westhill 2,500 1,500 Funding for Luton to run workshops and Ir8inin artiund di8 ue Feb 2024- Feb 2025 Lord Austin Trust (2.500) 1,500 1,500 Funding forsalary for West mi(11alS Youth and Schools worker J8n 23 (1.500) Leathersellers 9,479 Funding for Lulon salaries Jun8 2022- March 2023 (9.479) NN2 575 Funding for Luton for cOnneS MNlr Feb 2023- June 2023 Bedford & Luton Community Foundation Funding for Youth ETh>)untws in Luton Feb 2023- Feb 2024 (575) (3, 700) 3,700 20
Trustees, Report and Financial Statements for the year ended 31 March 2024 Rank Foundation 1,575 (1,575) Funding for Tower Harnlels HolAd8y ramm8 Ju 2023- October 2023 Hibbert Trust 2,500 (1,515) 985 Funding for Tcwer Harnlels to deliver Youth Encounters Dec 2023- Dec 2024 George Henry Collins 1,000 (383) 617 Funding for West Midlands Youlh and SGht)ols W0ers818 Dec 2023- Nov 2024 Heart of England 13,328 (2,812) 10,516 Funding for Wesl Midlonds Youlh Encx)unte Jan 2024- Dec 2024 National Lottery (4) 50,719 (22,844) 27,875 Y88r l of 5 yearfunthng for mlandS Hol8 ramme and Youlh EOnIerS Near Neighbours Join the dots Funding for Luton Encounlers Mar2024- July 2024 West Midlands Police & Crime Commissioner Y88r l of2 years lunding for West MlandS Schools mmes 3,975 (100) 3,875 8,200 (7,897) 303 Total Restricted funds Unrestricted funds Totsl Funds 146,209 31,945 124 124 50,898 175 022 54,494 119 374 31,841 122 506 21
Trustees, Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements (continued) Movement in Funds Balance At beginning of year Balance At end of year 2023 Income Expenditure Transfers Restricted Funds Staff salaries Luton Awards for All St. Peter's, Saltley Trust Luton Citizenship Children in Need Merchant Taylors Methodist Church - Connexional grant Near Neighbours (Fatth Dialogue) Edwards Cadbury Trust Spalding Trust Grantham Yorke Wixamtree National Lottery (3) Allchurches Islamic Relief Wakefield and Tetley Trust Queen Adelaide Charities Westhill Lord Austin Trust Leathersellers Various charities - Binningham salaries NN2 3,131 (3,131) (6,226) (20,000) (351) (1) (32,406) 8,465 10,000 2,239 5,000 15,000 351 29,906 35,000 32,500 5,961 120 300 3,000 5,961 (120) 300 3,000 500 2,850 16,701 (6,000) (24) (206) {35,093) (5,280) (2,000) (2,500) (690) 476 2,850 1,500 206 19,892 5,280 2,000 2,500 690 2,500 1,500 16,000 2,500 1,500 9,479 (6,521) 8,000 1,280 (8,000) (705) 575 Total Restricted funds Unrestricted funds Total Funds 86,338 107 796 33.968 74,723 120 306 182,519 64,880 54,494 119,374 54,197 183,451 22
Trustees, Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements (continued) 10. Analysis of net assets between funds Restricted Unreslricted funds funds 2024 Total Current assets Current liabilities 90,665 41.260 131,925 (9,419) (9,419) Total funds 31841 122 506 Restricted Unrestricted funds funds 2023 Total Current assets Current liabilrties 64,880 58,507 123,387 (4,013) (4.013) Total funds 64,880 54,494 119,374 11. Controlling Interests The charity is controlled by the trustees. 12. Related party transactions During the year the charitable company received unrestricted donations frorn the trustees totalling £4,020 {2023.£11,660). The charitable company rents its offices from Christ Church Sparkbrook. The church's vicar, the Reverend Toby Crowe, is also a trustee of the charity. The trustees are not aware of any other transactions with organisations or individuals where they are able to exert significant influence either individually or as a body. 23
Trustees, Report and Financial Statements for the year ended 31 March 2024 Notes to the financial statements (continued) 13. Comparative statement of Financial Activities for 2023 restricted Restricted funds funds Total funds 2023 2023 2023 Income: Donations & legacies Trading Aclivities Total income 69,472 5,251 74,723 107,796 177,268 5,251 182,519 107,796 Expenditure: Raising Funds Charitable Activities 462 53,735 143 129,111 605 182,846 Total expenditure Net incomel(expenditure) and net movement in funds for year 54,197 129.254 183,451 932 Reconciliation of funds: Total funds brought fofward Total funds carrled forward 54,494 64,880 119,374 24