Annual Report and Financial Statements
for the
Year ended 31[st] March 2024
1
CONTENTS
| NTS | |
|---|---|
| Page | |
| Report of the Trustees | 3 – 6 |
| Balance Sheet | 7 |
| Statement of Financial Activities | 8 |
| Notes to the Statement of Financial Activities | 9 – 12 |
| Independent Examiner’s Report | 13 |
2
The Trustees (who are also Directors of the Company for the purposes of company law) present their report together with the financial statements for the year ended 31[st] March 2024.
REFERENCE and ADMINSTRATIVE INFORMATION
Charity Name: Journeyman Mentoring Network Limited Charity number: 1149581 (England and Wales) Company number: 07519889 (England and Wales) Registered office and Little Tapnage Principal address: Titchfield Lane Fareham Hampshire PO17 5PQ Website address: www.journeymanuk.org
Trustees:
Philip Pryer (appointed 18[th] May 2023) Mike Raven (appointed 31 August 2021) Richard Shaw (appointed 22 January 2023) Kieran Maass (appointed 31 August 2023 / resigned 10[th] December 2023) Louise Shipway (appointed 20 January 2023 / resigned 21[st] January 2024) Nick Doherty (appointed 20 December 2022)
Secretary :
Luke James Harney (resigned 18 May 2023) Philip Pryer (appointed 18 May 2023)
3
STRUCTURE, GOVERNANCE and MANAGEMENT
The Charity’s governing document is its Memorandum and Articles of Association incorporated 7[th] February 2011.
It is governed by its Board of Trustees. Trustees are confirmed by the Board in a general meeting.
The management of the charity is vested in its board of trustees headed by the Chairman which meets regularly as necessary and is assisted by professional help and assistance as deemed appropriate by the Board or under statutory requirement.
Given the range of charitable activities and the various financial assets of the Charity, care is taken to ensure that new members of the Board have the appropriate skills required.
All Trustees give of their time freely and no trustee remuneration was paid in the year. Trustees are required to disclose all relevant interests and register them at least annually. It is customary for a trustee to withdraw from discussions and decisions where a conflict of interest arises, is declared or detected.
All new Trustees are given the opportunity to meet with the Office Team; new trustees are provided with briefing material, including a copy of the Charity Articles, key policy documents and minutes from the Board and Committee meetings to introduce and explain their role, and the full remit of the Charity.
OBJECT and ACTIVITIES
The Charity’s objectives are as stated in its Governing Document, being the advancement and help of young boys through the provision of recreational and leisure-time activities, provided in the interests of social welfare and for the improvement of their life conditions; further, to provide support and activities which develop skills, capacities and capabilities, enabling young boys to participate in society as mature and responsible individuals.
STATEMENT of PUBLIC BENEFIT
During the period under review, Journeyman Mentoring Network Limited developed and delivered a series of both new and existing projects across different communities. This consisted of both online and physical (i.e. in person) workshops and events for mentors, guardians and, adults working with teenage boys.
4
ACHIEVEMENTS
During the financial year ending 31 March 2024 Journeyman Mentoring Network Ltd ran online and in person workshops and events for mentors, guardians and adults working with teenage boys.
We continued with our community engagement and different projects. Across the year, we continued to provide 1-to-1 Crisis Mentoring, and PSHE workshops at 2 different education providers (in Bristol and London) using the Journeyman approach.
The Outdoor Education project that we began in 2020 with our collaborators has since become a year- long monthly program for younger boys, who have been feeding into the local Frome Journeyman group as a result. This was led and delivered by Frome mentors.
Risk Management
The Trustees are conscious of the advice contained in The Charity Commission Document (CC26) Page 10 Paragraph 33.3. The charity falls under the category of a Smaller Charity where the annual income is below the statutory audit threshold. Notwithstanding this, in the interests of maintaining a policy of “good practice”, ongoing development of the Risk Management Plan will be undertaken routinely.
FINANCIAL REVIEW
Net Income received within the period rose to £100,916 (prior year £39,683), with commensurate retained funds carried forward of £63,498 (prior year £19,684).
Total Restricted Funds stand at £18,298 (prior year £1,816, with Total Unrestricted Funds rising to £53,608 (prior year £22,509).
The Trustees consider the financial performance of the Charity during the period under review to have been satisfactory and commensurate with the planned activities through the period under review and, projected for the subsequent year.
Reserves Policy
The Trustees have examined the Charity’s requirements for reserves in light of the risks to the organisation and consider that reserves should be held which would be sufficient to meet its working capital requirements for at least six months. However, reserves may exceed this level if no immediate opportunity to use the funds to achieve the charity’s objective is available.
The Trustees are satisfied that the Charity’s assets are fully available, well managed and covered under the Financial Services Compensation Scheme.
5
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. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the financial resources and application of resources of the charity 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; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and to 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 accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008, both as amended subsequently, and the provisions of the Constitution, Governing Document or Trust Deed. Additionally, the Trustees are cognisant of the requirement to implement financial controls and reporting under the Charity Commission best practice, currently being the FRS 102 SORP Statement of Recommended Practice for Accounting and Reporting by Charities 2015, as amended subsequently.
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. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, together with the Charities Act 1993, was approved by the trustees and signed on their behalf by:
DICK BAKER
POSITION: TRUSTEE
Dick Baker
Dick Baker (Jan 23, 2025 18:30 GMT)
DATE: 23 Jan 2025
6
BALANCE SHEET
as at 31[st] March 2024
| Not e Fixed Assets Tangible Assets at Cost Accumulated Depreciation Current Assets Debtors 2 Cash at Bank 3 Cash in Hand 3 Current Liabilities Creditors (falling due within one year) 4 Net Current Assets Net Assets Funds of the Charity Retained Surplus B/F Prior Year Adjustment Profit and Loss Current Year Total Funds |
Unrestricted Funds Restricted Funds |
Total Total 2024 2023 |
|---|---|---|
| 888 (888) |
888 888 (888) (888) |
|
| 0 -320 51,793 18,298 1,815 |
0 0 -320 0 70,091 22,509 1,815 0 |
|
| 53,288 18,298 8,373 |
71,586 22,509 8,373 2,825 |
|
| 8,373 | 8,373 2,825 |
|
| 44,915 18,298 |
63,213 19,684 |
|
| 44,915 18,298 17,868 1,816 27,782 16,032 |
63,213 19,684 19,684 40,330 0 43,814 -20,646 |
|
| 45,650 17,848 |
63,498 19,684 |
|
| 45,650 17,848 |
63,498 19,684 |
The Trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31[st] March 2024:
-
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 (“the Act”), and
-
Members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts were approved by the Trustees and signed on their behalf by:
DICK BAKER
POSITION: TRUSTEE DATE: 23 Jan 2025
Dick Baker
Dick Baker (Jan 23, 2025 18:30 GMT)
7
STATEMENT of FINANCIAL ACTIVITIES
for the year ended 31[st] March 2024
| Not e Incoming Resources Income from Generated Funds Voluntary Income 5 Investment Income Income from Charitable Activities Other Income Resources Expended Costs of Generating Voluntary Income 6 Cost of Charitable Activities 7 Governance Costs 8 Reconciliation of Funds Net Income / (Expenditure) Transfers between Funds Net Movement in Funds Total Funds Brought Forward Prior Year Adjustment Total Funds Carried Forward |
Unrestricted Funds Restricted Funds |
Total Total 2024 2023 |
|---|---|---|
| 78,015 18,298 4,603 0 |
96,313 38,438 4,603 1,245 |
|
| 82,618 18,298 10,424 0 19,466 2,266 24,947 0 |
100,916 39,683 10,424 1,010 21,732 22,291 24,947 37,028 |
|
| 54,836 2,266 27,782 16,032 |
57,102 60,329 43,814 -20,646 |
|
| 27,782 16,032 17,868 1,816 |
43,814 -20,646 19,684 40,330 |
|
| 45,650 17,848 |
63,498 19,684 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.
The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
The notes on pages 10 to 12 form an integral part of these financial statements for the benefit of the Trustees.
8
NOTES to the STATEMENT of FINANCIAL ACTIVITIES
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in 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.
Journeyman Mentoring Network Ltd 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 notes.
b) Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
e) Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
f) 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.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
g) Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been identified as a separate entry within he accounts for clarity and transparency.
9
h) Tangible fixed assets
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Fixtures and fittings
25% straight line
i) Stock
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.
j) 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.
k) 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.
l) Creditors
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.
m) Financial instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
n) Pension costs
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA. There were no employees during the financial year ending 31 March 2021 (2020: Nil).
o) Foreign currency transactions
Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.
p) Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Depreciation
As described in note 1(h) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.
10
- Transactions with trustees and related parties
No remuneration or expenses were paid or reimbursed to trustees or related parties.
- Trade debtors
| Trade Debtors . Cash at Bank Cash in Hand Bank Current account . Creditors (falling due within Trade Creditors |
Unrestricted Funds Restricted Funds Total Total 2024 2023 |
|---|---|
| -320 -320 |
|
| -320 0 -320 0 |
|
| Unrestricted Funds Restricted Funds Total Total 2024 2023 |
|
| 1,815 0 1,815 0 51,793 18,298 70,091 22,509 |
|
| 53,608 18,298 71,906 22,509 |
|
| one year) Unrestricted Funds Restricted Funds Total Total 2024 2023 |
|
| 8,373 8,373 3,110 |
|
| 8,373 0 8,373 0 |
-
Cash at Bank
-
Creditors (falling due within one year)
-
Voluntary Income
| Incoming Resources Donations Training Courses Grants |
Unrestricted Funds Restricted Funds Total Total 2024 2023 |
|---|---|
| 18,015 18,015 25,351 4,603 4,603 1,245 60,000 18,298 78,298 13,087 |
|
| 82,618 18,298 100,916 39,683 |
11
6. Cost of Generating Voluntary Income
| Fundraising Marketing Bank Fees |
Unrestricted Funds Restricted Funds Total 2024 |
Total 2023 |
|---|---|---|
| 10,280 0 10,280 0 0 0 144 0 144 |
900 0 110 |
|
| 10,424 10,424 |
10,424 |
7. Costs of Charitable Activities
| Group Expenses Group Refreshments Venue Rent Trainer Fees Travel |
Unrestricted Funds Restricted Funds Total 2024 |
Total 2023 |
|---|---|---|
| 2,841 1,816 4,657 0 0 0 3,527 180 3,707 13,098 270 13,368 0 0 0 |
3,534 1,588 3,166 14,003 0 |
|
| 19,466 2,266 21,732 |
22,291 |
8. Costs of Governance
| Recruitment Costs Insurance Administration Office Expenses Depreciation Rounding/ Sundry |
Unrestricted Funds Restricted Funds Total 2024 |
Total 2023 |
|---|---|---|
| 0 0 0 1,164 0 1,164 22,116 0 22,116 291 0 291 0 0 0 0 0 0 |
0 992 35,507 528 0 0 |
|
| 23,572 0 23,572 |
37,028 |
12
Annual Report March 2024 V1
Final Audit Report
2025-01-23
Created: 2025-01-23 By: Max Fyfe (max@catalystprojects.org) Status: Signed Transaction ID: CBJCHBCAABAAa63dJsm68-hTXbWeMUvli49mO7kfO-O6
"Annual Report March 2024 V1" History
- Document created by Max Fyfe (max@catalystprojects.org)
2025-01-23 - 18:06:47 GMT- IP address: 31.94.14.121
Document emailed to dick.baker@journeymanuk.org for signature
2025-01-23 - 18:06:51 GMT
- Email viewed by dick.baker@journeymanuk.org
2025-01-23 - 18:29:36 GMT- IP address: 79.78.221.17
Signer dick.baker@journeymanuk.org entered name at signing as Dick Baker 2025-01-23 - 18:30:05 GMT- IP address: 79.78.221.17
Document e-signed by Dick Baker (dick.baker@journeymanuk.org)
Signature Date: 2025-01-23 - 18:30:07 GMT - Time Source: server- IP address: 79.78.221.17
Agreement completed.
2025-01-23 - 18:30:07 GMT
TB3 Little Tapnage ritchfield Lane Fareham Hampshire 717 SPO Balancing the Books Independent Examinerfs Report on the Accounts Report to the Trustees of.. Journeyman Mentorinq Network Limited With Registered Offices at: T83 Little Tapnage, rrtchfield Lane. Foreham, Hompshire, P0175PQ Charity Number: 07519889 (Enqland ond Wales) For the Year Ended: 31" March 2024 Res nsibilities and Basis of Re I report to the Trustees on my examination of the accounts of the above charity I'the TrusY'} for the year ended 31/0312024. As the Charitvs Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.the Acv). I report in respect of my examination of the Trusys accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Inde ndent Examlnerfs Statement I have completed my exarnination. I confirn that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect: The accounting records were not kept in accordance with Section 130 of the Act; or The accounts did not accord with the accounting records; or The accounts did not comply with the applicable requirernents concerning 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 fairf 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 examinatton to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reac ed. Signed Jonathan Kemp BA{Hons), MBCS, MICB Date Professional Qualifications/ body: Member of the Institute of Certified Bookkeepers Affiliate Mernber of the Association of Charity Independent Exarniners Registered as a Limited Company in England and Wales, number 7646453: VAT number 128 5552 05 ICB Membership Number.. 346038- ICB Prartice Licence Number= 13056