2024-03-31-accounts - US Charitable Trust

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US Charitable Trust

Charity No. 1147089

Company No. 07953247

Trustees' Report and Unaudited Accounts

31 March 2024

Key Achievements

1100-1500 young people supported throughout the academic year

THE US CHARITABLE TRUST

IMPACT REPORT 2023-24

Chairman’s Summary

The Us Charitable Trust has been particularly active this year. The team has worked hard on developing new programmes to fit the needs of our cohorts. The Trust has received exceptional support and generosity from the John Lyons Foundation. This has enabled to us to plan five years ahead for we now have funding for a fulltime COO with additional funding for a possible fourth part-time employee. This has taken an enormous weight off of our shoulders knowing that we have funding for one of our three senior employees and possibly a fourth.

We are fortunate to have been able to count on the extremely hard work of the team: Janet Macleod, Tiffany Li, and Alisha Patel. Through their efforts we have secured funding for a new program ‘collaboration’, which is targeted on the needs of young women between primary and secondary school age. We will be starting this program in the next school term. It is due to run for three years and if the results turn out as we hope, it may be that this programme could inform the debate on statutory provision for atrisk students. This is our aim and the outcome we will be working towards.

We will still be delivering our Zenobia Scholars and Young Ambassadors programs as well as aspects of Future Voice such as the Careers Fairs, apprenticeships panels and women’s conference, throughout the year, but we will no longer provide the statutory element of the programme, instead we will focus on long term mentoring and building our alumni network.

4 major programmes run throughout the year

3 external workshops or trips run

11 big events run throughout the year

10 corporate business interactions with young people

Programme and Year Highlights

Future Voice

Future Voice is a comprehensive careers and personal development programme for young people in Year 10, 11, 12 and 13. The programme looks to support students to make an informed decision between higher education, apprenticeship, and immediate employment within the context of their overall career goals, enabling them to be ‘career ready’ when they leave school.

Youth Ambassadors

Youth Ambassadors is a monthly youth-led programme that brings a diverse group of young people spanning cultural and geographic communities across Brent to meet and take part in enriching activities, become exposed to different industries, and have a delicious meal from local businesses.

Zenobia Scholars

Zenobia Scholars is a student designed program to assist 16-18 year old marginalised minority ethnic young women in Brent. The programme focuses on promoting wellbeing and supporting young people in with their personal and career development.

Summer Camp

Summer Camp is an annual event that takes place between July and August to promote healthy living, exercise and exploring the community. Each year, the charity hosts a different cohort of varying demographics. This year, in partnership with Alperton Community School and Jason Roberts Foundation, the camp hosted 30 girls between 10-11 years of age transitioning from primary school to high school.

Trustee, Volunteer and Corporate Contributions

Trustee Contributions

3 participations in charity events
1 observation of charity day-to-day running’s
o Notable events incl. Careers Fair, International Women’s Day, and Youth Ambassadors Programme

Volunteer Contributions

38 volunteers – all young people that the charity sees and supports weekly
30 hours across all events
Notable events incl. Iftar and Summer Camp

Corporate Contributions

51 Charlie Bigham’s ready-made meals donated to young people
Engagement from 45 businesses and organisations
Notable events incl. Iftar, Industry Afternoon, Careers Fair, Youth Ambassadors and Zenobia Scholars

Careers Fair

The Us Charitable Trust organised and ran two career fairs at Newman Catholic College and The Crest Academy on 10 and 17 October 2023. Both events saw over 20 companies and universities invited to speak to year groups from year 7 to year 13. The event included interactive bingo cards that supported young people of all ages to network with industry people with ease. This proved to be very successful with both professionals and students commenting on how it provided an excellent icebreaker for further interactions.

Industry Afternoon

On November 29 2023, The Us Charity invited a group of industry panellists from various professions spanning from radiography to real estate to The Crest Academy. The event was held for year 12 and 13 students and all panellists represented the most common careers our young people were interested in. Students were given the opportunity to learn, networking and have essential questions answered. This panel event was then followed by group interviews where each panellist was paired with students that were interested in their profession.

National Apprenticeship Week

To celebrate National Apprenticeship Week held between 5-11 February 2024, we hosted a panel of apprenticeship students and employers at Newman Catholic College. Guests ranged from law apprentice students to police officers and cricket clubs. The event was split into two parts with the first part including a Q&A hosted by charity COO, Tiffany Li and the second half including interactive group interviews with individual panellists. Each guest was able to spend 10 minutes with each group.

International Women’s Day

On 5 and 6 March 2024, The Us Charity hosted three women’s panels for Newman Catholic College and The Crest Academy. International Women’s Day which is recognised annually in March was the backdrop for an event to host an exceptional group of women that all represented the young women we work with. The panels were split for the boys and girls separately to individually tackle issues and themes that were relevant for each group. The panels saw a wide range of professional women ranging from law to biomedical science, to entrepreneurs.

Iftar

To celebrate the holy month of Ramadan, we organised and ran an iftar for the community on 27 March 2024 at Newman Catholic College. The event included students from both charity programmes, Youth Ambassadors and Zenobia Scholars who volunteered and supported the running of the event. This event encompassed all three partner schools we work with including Newman Catholic College, The Crest Academy and Alperton Community School, alongside the family of the young people we support. Charlie Bigham’s also kindly donated 51 ready-meals to young people as part of our initiative to ensure all young people and their families have food during the holidays.

Drop-down Day

Between 26 March and 23 April 2024, The Us Charity hosted four drop-down days on the theme ‘Careers and the Wider World’. Each drop-down day was presented to a different year group between year 8 and 10. Each drop-down day saw either a panel of guests or organisation host a workshop. Our guests ranged from civil service to alumni who have gone on to successful careers. Each event was successful with students commenting how much they’d learned, or discovered new interests and careers.

US Charitable Trust Statement of Financial Activities

for the year ended 31 March 2024

Unrestricted funds 2024 £ 32,827	Restricted funds 2024 £ 97,031	Total funds 2024 £ 129,858	Total funds 2023 £ 163,759
32,827 20,007 44,073	97,031 - 81,231	129,858 20,007 125,304	163,759 12,119 100,151
64,080 -	81,231 -	145,311 -	112,270 -
(31,253) -	15,800 -	(15,453) -	51,489 -
(31,253)	15,800	(15,453)	51,489
(31,253) 86,649	15,800 -	(15,453) 86,649	51,489 35,160
55,396	15,800	71,196	86,649

US Charitable Trust Summary Income and Expenditure Account

for the year ended 31 March 2024

Income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year	2024 £ 129,858 129,858 145,097 4 210 145,311 (15,453) (15,453)	2023 £ 163,759
		163,759
		112,270 - -
		112,270
		51,489
		51,489

US Charitable Trust Balance Sheet

at 31 March 2024

Company No. 07953247 Notes 2024 £ Fixed assets Tangible assets 9 489 489 Current assets Debtors 10 5,250 Cash at bank and in hand 74,287 79,537 Creditors:Amount falling due within one year 11 (8,830) Net current assets 70,707 Total assets less current liabilities 71,196 Net assets excluding pension asset or liability 71,196 Total net assets 71,196 The funds of the charity Restricted funds 12 Restricted income funds 15,800 15,800 Unrestricted funds 12 General funds 55,319 Designated funds 77 55,396 Reserves 12 Total funds 71,196	2023 £ -
	- - 86,649
	86,649 -
	86,649 86,649
	86,649
	86,649
	-
	- 86,649 -
	86,649
	86,649

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 10 June 2024

And signed on its behalf by:

Serena Balfour Trustee 10 June 2024

Page 3

US Charitable Trust Notes to the Accounts

for the year ended 31 March 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

US Charitable Trust Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Electrical equipment 25%% Straightline method

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

US Charitable Trust Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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 normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

US Charitable Trust Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3	Statement of Financial Activities - prior year
			Unrestricted	Restricted
			funds	funds	Total funds
			2023	2023	2023
			£	£	£
Income and endowments from:
	Donations and legacies		54,660	109,099	163,759
Total			54,660	109,099	163,759
Expenditure on:
	Charitable activities		-	12,119	12,119
	Other		25,449	74,702	100,151
Total			25,449	86,821	112,270
Net income			29,211	22,278	51,489
Net income before other gains/(losses)			29,211	22,278	51,489
Other gains and losses:
Net movement in funds			29,211	22,278	51,489
Reconciliation of funds:
Total funds brought forward			35,160	-	35,160
Total funds carried forward			64,371	22,278	86,649
4	Income from donations and legacies
		Unrestricted	Restricted	Total	Total
				2024	2023
		£	£	£	£
	Main Grant - National Lottery	32,750	-	32,750	32,361
	Other Donations	-	97,031	97,031	131,398
	Charities Aid Foundation America	77	-	77	-
		32,827	97,031	129,858	163,759

US Charitable Trust

Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable activities Charity Activities Contractors Governance costs 6 Other expenditure Other interest payable Employee costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 7 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets 8 Staff costs Salaries and wages Social security costs	Unrestricted £ 4 33,911 210 6,280 3,668 44,073	Unrestricted £ 10,029 4,105 5,430 443 20,007 Restricted £ - 81,231 - - - 81,231 2024 £ 210 2024 101,201 5,203 106,404	Total 2024 £ 10,029 4,105 5,430 443 20,007 Total 2024 £ 4 115,142 210 6,280 3,668 125,304	Total 2023 £ 10,371 1,748 - -
				12,119
				Total 2023 £ - 90,955 - 5,492 3,704
				100,151
				2023 £ - 2023 66,264 1,390
				67,654

No employee received emoluments in excess of £60,000.

US Charitable Trust Notes to the Accounts

9 Tangible fixed assets

Cost or revaluation Additions At 31 March 2024 Depreciation and impairment Depreciation charge for the year At 31 March 2024 Net book values At 31 March 2024 10 Debtors Trade debtors 11 Creditors: amounts falling due within one year Other taxes and social security Accruals	2024 £ 5,250 5,250 2024 £ 8,831 (1) 8,830	Electrical equipment £ 699 699 210 210 489	Total £ 699
			699
			210
			210
			489
			2023 £ -
			-
			2023 £ - -
			-

US Charitable Trust Notes to the Accounts

12 Movement in funds

At 1 April 2023 Restricted funds: Restricted income funds: Main Grant - National Lottery - John Lyons Charity - John Lyons Charity - OPDC - - Total - Unrestricted funds: General funds 86,649 Designated funds: Monkey Puzzle - Jack Petchey Foundation - Other donations - Total - Total funds 86,649 Purposes and restrictions in relation to the funds: Restricted funds: Main Grant - National Lottery John Lyons Charity Designated funds: Other donations	Incoming resources (including other gains/losses ) £ 30,846 33,000 17,385 900 14,900 97,031 6,500 15,750 10,500 77 26,327 129,858	Resources expended £ (30,846) (33,000) - (17,385) - (81,231) (37,830) (15,750) (10,500) - (26,250) (145,311)	At 31 March 2024 £ - - 17,385 (16,485) 14,900
			15,800
			55,319 - - 77
			77

			71,196

13 Analysis of net assets between funds

Fixed assets Net current assets	Unrestricted funds £ 489 15,646 16,135	Restricted funds £ - 55,061 55,061	Total £ 489 70,707
			71,196

US Charitable Trust Notes to the Accounts

14 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents Net debt	At 1 April 2023 £	Cash flows £	At 31 March 2024 £
	86,649	(12,362)	74,287
	86,649 86,649	(12,362) (12,362)	74,287
			74,287

15 Related party disclosures

Controlling party