**Charity number: 1148955**
## **TEEN ENTERPRISE UK**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 APRIL 2024**
## **TEEN ENTERPRISE UK**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Independent examiner's report**|4|
|**Statement of financial activities**|5|
|**Balance sheet**|6|
|**Notes to the financial statements**|7 - 11|
**TEEN ENTERPRISE UK**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2024**
**Trustees** Roman Sosnovsky, Trustee Chana Mina Bensusan, Trustee Geoffrey Lewis Ives, Trustee
**Charity registered number** 1148955 **Principal office** Flat 2 Davis Court Saw Mill Way London N16 6AG **Accountants** Wolffe Accountancy Services Ltd 34 Braydon Road London N16 6QB
Page 1
**TEEN ENTERPRISE UK**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2024**
The Trustees present their annual report together with the financial statements of the Teen Enterprise UK for the 1 May 2023 to 30 April 2024.
## **Objectives and activities**
## **Policies and objectives**
This charity was set up by a Trust Deed on 9th September 2012 to provide advice and assistance to young people living in England and Wales, and to organise programmes to help them develop thier skills, capacities and capabilities. Its objects incude to advance education, relieve unemployment, and to provide recreational activities with a view to improving the lives of youth who may otherwise be dissadvantaged by reason of their age, infirmity or dissabilty, or social and economic curcumstances.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **Main achievements of the Charity**
Among the current activities of Teen Enterprise UK are the daily breakfast club, weekly swimming club, Saturday evening musical gathering, Sunday evening learning club, and yearly summer-camp. Our past activities have had a lasting impact on many young boys who have gone on to find stable jobs, get married etc, and feel indebted for the attention and goodwill that they have received. This "debt" is paid back when they themselces become volunteers for present club activities.
## **Review of activities**
This year's summer camp took place in Alkham, Kent where fifteen boys from challenging backgrounds were able to enjoy an incredible week of uplifting activities, starting the day with prayer followed by video, then breakfast, daily outings, back to the accommodation for swimming and night-activities. Each of these boys returned the following year, some bringing with siblings and friends. Parents and boys alike showed their tremendous appreciation for this rare treat. This year the Charity has received a grant fom Awards for All towards self-defence programmes which has further enhanced its activities. It has also given grants of £2,142 to help other institutions running similar activities.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves policy**
The trustees do not seek to maintain reserves other than to ensure that they continue the activities of the charity. In the opinion of the directors/trustees the present level of funding is adequate to support the continuation of the charity’s activities.
Page 2
**TEEN ENTERPRISE UK**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024**
## **Principal funding**
The trustees are grateful to our donors and supporters that have enabled us to continue to provide for those who have a limited budget. With the help of two fundraisors we were able to receive an Awards for All grant from the Lottery Commission, as well as significant donations from a Charidy campaign, the Anthony Bourne Foundation, the Truemark Trust and Skipton Building Society.
## **Structure, governance and management**
## **Constitution**
Teen Enterprise UK is a registered charity, number 1148955, and is constituted under a Trust deed.
## **Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 29 September 2024 and signed on their behalf by:
## **Roman Sosnovsky**
Trustee
Page 3
**TEEN ENTERPRISE UK**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2024**
## **Independent Examiner's Report to the Trustees of Teen Enterprise UK ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 April 2024.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Signed:
Dated: 29 September 2024
D Wolffe FCCA
34 Braydon Road London N16 6QB
Page 4
**TEEN ENTERPRISE UK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024**
|**Note**
**Income from:**
Donations and legacies
3
**Total income**
**Expenditure on:**
Raising funds
4
Other expenditure
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2024**
**£**
**19,100**
**19,100**
**-**
**9,543**
**9,543**
**9,557**
**-**
**9,557**
**9,557**|**Unrestricted**
**funds**
**2024**
**£**
**63,227**
**63,227**
**14,363**
**51,421**
**65,784**
**(2,557)**
**8,840**
**(2,557)**
**6,283**|**Total**
**funds**
**2024**
**£**
**82,327**
**82,327**
**14,363**
**60,964**
**75,327**
**7,000**
**8,840**
**7,000**
**15,840**|_Total_
_funds_
_2023_
_£_
_38,993_
_38,993_
_9,253_
_39,781_
_49,034_
_(10,041)_
_18,881_
_(10,041)_
_8,840_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 11 form part of these financial statements.
Page 5
## **TEEN ENTERPRISE UK**
## **BALANCE SHEET AS AT 30 APRIL 2024**
|**Note**
**Fixed assets**
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one
year
6
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted funds
**Total funds**|**17,640**
**17,640**
**(1,800)**|**2024**
**£**
**-**
**15,840**
**15,840**
**15,840**
**15,840**
**9,557**
**6,283**
**15,840**|_10,640_
_10,640_
_(1,800)_|_2023_
_£_|
|---|---|---|---|---|
|||||_-_
_8,840_|
|||||_8,840_|
|||||_8,840_|
||||||
|||||_8,840_|
|||||_-_
_8,840_|
||||||
|||||_8,840_|
The financial statements were approved and authorised for issue by the Trustees on 29 September 2024 and signed on their behalf by:
## **Roman Sosnovsky**
## Trustee
The notes on pages 7 to 11 form part of these financial statements.
Page 6
**TEEN ENTERPRISE UK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024**
## **1. General information**
The charity aims to providing advice and assistance and organise programmes as a means of: (a) helping young people by developing their skills; (b) advancing education; (c) relieving unemployment; (d) providing recreational and leisure time activity benefit to persons who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Teen Enterprise UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
## **2.3 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 allocated on the portion of the asset’s use.
Page 7
**TEEN ENTERPRISE UK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024**
## **3. Income from donations and legacies**
|Donations
Grants
Donations
Grants|**Restricted**
**funds**
**2024**
**Unrestricted**
**funds**
**2024**
**£**
**£**
-
29,186
19,100
34,041
19,100
63,227
_Unrestricted_
_funds_
_2023_
_£_
_15,443_
_23,550_
_38,993_|**Total**
**funds**
**2024**
**£**
**29,186**
**53,141**|
|---|---|---|
|||**82,327**|
|||_Total_
_funds_
_2023_
_£_
_15,443_
_23,550_|
|||_38,993_|
## **4. Expenditure on raising funds Costs of raising voluntary income**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2024**|
||**£**|**£**|
|Fundraising costs|14,363|**14,363**|
Page 8
**TEEN ENTERPRISE UK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024**
## **4. Expenditure on raising funds (continued)**
## **Costs of raising voluntary income (continued)**
||_Unrestricted_|_Total_|
|---|---|---|
||_funds_|_funds_|
||_2023_|_2023_|
||_£_|_£_|
|Fundraising costs|_9,253_|_9,253_|
## **5. Other expenditure**
|Salaries
Accountancy fees
Independant examiner's fee
Sundry expenses
Travel expenses
Camp accommodation
Food and drink
Rent of premises
Camp outings
Professional fees
Grants paid|**Restricted**
**funds**
**2024**
**Unrestricted**
**funds**
**2024**
**£**
**£**
2,959
23,052
-
1,139
-
900
-
990
-
2,113
-
6,200
-
1,529
6,100
4,050
-
2,436
484
6,870
-
2,142
9,543
51,421|**Total**
**funds**
**2024**
**£**
**26,011**
**1,139**
**900**
**990**
**2,113**
**6,200**
**1,529**
**10,150**
**2,436**
**7,354**
**2,142**|
|---|---|---|
|||**60,964**|
Page 9
**TEEN ENTERPRISE UK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024**
## **5. Other expenditure (continued)**
|Salaries
Accountancy fees
Independant examiner's fee
Sundry expenses
Travel expenses
Commission payable
Food and drink
Rent of premises
Camp outings
Professional fees
**6.**
**Creditors: Amounts falling due within one year**
Accruals and deferred income
**7.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**|_Unrestricted_
_funds_
_2023_
_£_
_13,493_
_1,208_
_900_
_1,571_
_1,974_
_7,000_
_3,109_
_4,540_
_1,189_
_4,797_
_39,781_
**2024**
**£**
**1,800**|_Total_
_funds_
_2023_
_£_
_13,493_
_1,208_
_900_
_1,571_
_1,974_
_7,000_
_3,109_
_4,540_
_1,189_
_4,797_|
|---|---|---|
|||_39,781_|
|||_2023_
_£_
_1,800_|
||||
|Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2024**
**Unrestricted**
**funds**
**2024**
**£**
**£**
9,557
8,083
-
(1,800)
9,557
6,283|**Total**
**funds**
**2024**
**£**
**17,640**
**(1,800)**|
|---|---|---|
|||**15,840**|
Page 10
**TEEN ENTERPRISE UK**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024**
## **7. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2023_
_£_
_10,640_
_(1,800)_
_8,840_|_Total_
_funds_
_2023_
_£_
_10,640_
_(1,800)_
_8,840_|
|---|---|---|
Page 11