## **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** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
**Total**
**Expenditure on:**
Charitable activities
5
Other
6
**Total**
Net gains on investments
**Net (expenditure)/income**
7
Transfers between funds
**Net (expenditure)/income**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**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**_