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← Young Carers Development Trust

2024-09-30-accounts

YOUNG C!RERS DEVELOPMENT TRUST’

FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024

Company No. 07771110 Charity No. 1150197

YOUNG CARERS DEVELOPMENT TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024

Contents Page
Introduction from Robert Cotton, Chair of Trustees 1
Report of the Trustees 2-11
Statement of Trustees’ Responsibilities 12
Independent Examiner’s Report to the Trustees 13
Statement of Financial Activities 14
Balance Sheet 15
Notes to the Financial Statements 16-24

YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction from Robert Cotton, Chair of Trustees

If you are looking for a slightly unusual birthday present (for a friend or, perhaps, yourself), I can recommend two books. Each novel is delightful and surprising. I was not safe reading either in public, as one caused me to laugh out loud, whilst the other had me in tears on more than one occasion. Yet both books were moving, magical – almost mystical. Many of the values described in the novels are exactly what YCDT stands for: kindness and hope, resilience in the face of adversity, determination, gentle unrelenting support that transforms lives. Perhaps what is distinctive from YCDT is that each book has a surprising key character: one is a parrot, the other a tree. So, I heartily recommend Still life by Sarah Winman, and The island of missing trees by Elif Shafak.

That is a roundabout way of reminding you of the main components of the life of YCDT: Volunteer Development Mentors and staff creatively offering faithful support so that Young Carers flourish; generosity of time and money; confidence that troubles are more easily overcome with companions who are faithfully by our side. In a year when there has been such turmoil and aggression at home and abroad, we know that the work of YCDT matters – it changes lives, and the long-term benefits (perhaps for some, as yet invisible) will be enormous. So, thank you to all our supporters for continuing to care, with faith and hope in a better future.

A huge thank you to all our generous donors, whose kindness and pragmatic support enable us to provide our services. Thanks are also due to the staff who are moving on, as well as those who are now joining the team. Your presence and energy have been an inspiration to many.

Last but by no means least, we thank our inspirational Young Carers who are at the centre of everything we do.

For me personally, I was moved to be invited by one of our donors to speak about the work of YCDT – the parish of St Julian’s Wellow; It was a cold Sunday morning; there were about 30 in the congregation. As this was the first time that I had been a public ambassador for YCDT, I was a bit nervous. The church building itself is about 700 years old, and is a place of such calm security and peace. The congregation were thrilled to hear about our work, and the part that they play (with their donation) in helping the lives of Young Carers. I was sent on my way rejoicing, buoyed by kindness (and further offers of assistance), knowing that being part of YCDT is so thoroughly worthwhile – both now, and in the unseen future. So, thanks to all our donors. I am ready and willing for more speaking engagements, if that suits you.

Our annual report describes the nuts and bolts of our work. As you turn the pages, read also between the lines and have hope!

Best wishes

Robert Robert

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Board has pleasure in presenting their annual report and financial statements for the year ended 30 September 2024.

Reference and Administrative Information

Charity name Young Carers Development Trust (YCDT)
Registered charity number 1150197
Company number 07771110
Registered address 14 Queen Square, Bath, BA1 2HN
Directors / Trustees Mr Robert Cotton, Chair
Ms Emily Cook (appointed 16thApril 2024)
Mr Bernardo Dominguez (appointed 16thJanuary 2024)
Mr William Feeny
Ms Dione Hicks (appointed 16thApril 2024)
Ms Sonia Hutchison (resigned 8thOctober 2024)
Mr Sam Pearce-Kearney (resigned 9thJuly 2024)
Mrs Andrea Pierce
Ms Katy Philips
Mr Andrew Pitt (resigned 9thJuly 2024)
Ms Amy Riley
Mr Timothy Young (resigned 17thOctober 2023)
Key Management Personnel CEO, Karen Davis (appointed 1stDecember, 2023)
Charity Manager, Karina Eccles
Service Manager, Melanie Rees (resigned 17thJanuary 2025)
Georgia Prentice (appointed 6thJanuary 2025)
Independent Examiner Joshua N Kingston BSc., ACA
Burton Sweet, Chartered Accountants
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1UR
Bankers HSBC Bank PLC
45 Milson Street
Bath BA1 1D
The Charities Aid Foundation Deposit Platform,
Flagstone Investment Management Ltd
26-27 Oxendon Street, London, SW1Y 4EL

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

About Young Carers Development Trust

YCDT was established in 2012 as a small charity in Wiltshire. It took its inspiration from the desire to give Young Carers the best possible life chances. Learning that only one Young Carer in West Wiltshire had ever been to university, the trustees of the charity resolved to support Young Carers by providing mentoring, academic support, careers and further education guidance.

Our charitable objects are to advance in life and relieve needs of young people through providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

Our vision is for all Young Carers to flourish

Our mission is to inspire and empower Young Carers to fulfil their ambitions

Since 2012 YCDT has grown significantly, supporting an ever increasing number of Young Carers and Young Adult Carers aged 14+. There is no doubt our support is needed. Recent research[1] identified that in 2022/23:

1 Caring and classes: the education gap for young carers, McGowen, 2024 YCDT works tirelessly to address the negative impact caring has on Young Carer’s education, and the imbalance and lack of diversity of opportunity experienced by them due to their responsibilities. YCDT improves the future life chances of motivated Young Carers by:

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

We have four programmes of work to achieve this mission. A Long-Term Mentoring Programme, a Group Mentoring Programme, an annual Aspirations Conference and an Ambassadors Programme for our alumni.

The support offered by YCDT is unique. It provides

Thank you to our Supporters and Donors

Our programmes are completely free to young people and schools. We have no government contracts and rely wholly on the generosity of individuals, business and grant makers to give our Young Carers the opportunity to fulfil their potential.

Our particular thanks go to

Alchemy Trust Beatrice Laing Foundation BOM IT Solutions Carers' Trust Chippenham Town Council Garfield Weston Foundation Gilchrist Educational Trust Groundwork UK Hedley Foundation Inman Charity Jack Lane Charitable Trust J&M Britton Trust John James Foundation Lennox Hannay Charitable trust Mack Foundation

PCC of Wellow Ray Harris Charitable Trust Sarum St Michael Educational Charity Sir Jules Thorn CT Swire Charitable Trust The Grace Trust The National Lottery Community Fund The Robert McAlpine Foundation UWE (University of West of England) Violet Wills Charitable Trust Wiltshire Community Association Walter Guinness Charitable Trust Nisbet trust Paypal Giving Fund

Achievements and Performance

The most significant change for YCDT during the year was being awarded a grant from the National Lottery to develop a new one-year group mentoring programme. This has enabled us to extend our mentoring programmes to a wider group of Young Carers. During the year we have supported Young Carers through our Long-term Mentoring Programme, our new Group Mentoring Programme and our highly regarded Aspirations Conference.

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES , FOR THE YEAR ENDED 30 SEPTEMBER 2024

Long-Term Mentoring Programme

Since taking on its first Young Carers in 2013, YCDT has supported 61 Young Carers through the LongTerm Mentoring Programme. 14 joined the programme in 2024/25. We started the 2023 financial year with 28 Young Carers, and with 5 graduating we began 2023/24 supporting 37 Young Carers.

We are very proud of what Young Carers supported by YCDT have achieved. 100% of Young Carers in the programme are in Education Employment and Training. Of the Young Carers aged 18 plus, 87% have gone to Higher or Further Education, with 41% studying vocational courses (such as a carpentry apprenticeship) and 68% attending a university. 12% entered directly into employment, including working for the NHS, training as a Prison Officer and working for YCDT.

Nearly a quarter of the Young Carers have attended private education on bursaries. Particular thanks go to the team at The Royal Springboard Charity who support a number of our Young Carers and Bath Academy who have been educating sixth formers on our programme for the past six years.

“YCDT has had a huge impact of my life and supported me through my education excellently” Ashleigh, who started at Warwick University this Autumn

Matilda started at Cardiff University in September and is studying Biology. In addition to her mentor YCDT provided support to enable Matilda to undertake her Duke of Edinburgh’s Gold !ward.

Growth in Volunteers

Crucial to the success of the Long-Term Programme are the amazing, dedicated volunteers who provide direct support to the Young Carers on this programme. YCDT would like to thank all of its wonderful volunteers: we started the 2023/24 year with 22 development mentors. In September 34 mentors were working directly with Young Carers, with some mentors supporting more than 1 Young Carer.

Our annual Development Mentor get together with staff and trustees was a huge success, being held in June 2024 at Ammerdown retreat, giving everyone a chance to network and build relationships. We introduced regional mentor hubs in January 2024. From September 2024 there will be 7 hubs across our region. The hubs improve connectivity with YCDT, give mentors the opportunity to share experiences and learn from one another plus help reduce feelings of isolation.

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES . FOR THE YEAR ENDED 30 SEPTEMBER 2024

"I couldn’t recommend being a Development Mentor highly enough, you really can make a significant difference to young people’s lives" Chris, Volunteer Development Mentor

“I still feel a great sense of privilege of being involved in somebody else’s journey” Bernie, Volunteer Development Mentor

It’s been really rewarding just

to see the

improvement in such a short time “Chloe, Volunteer Development Mentor

Aspirations Conference 2024

Generously hosted by the University of the West of England, this year’s conference was a huge success. There were 9 wide ranging workshops for Young Carers, and 4 networking sessions for adults working in the sector. The conference was attended by approximately 75 Young Carers and people working in the sector from across the South West. Delivery partners and organisations supporting the conference included: UWE, Bristol University, Bath University, Bath Spa University, Amazing Apprenticeships, Off The Record, Babbista and UCAS.

The feedback from Young Carers about feeling better informed about opportunities for Further and Higher Education was incredibly positive. Many Young Carers reported they would now consider university and they had a much better understanding of the sort of support available.

Virtually all the Young Carer attendees (92%) said the conference helped them to learn new skills

“One of the most beneficial things I’ve learnt is how to use my skills of being a Young Carer in my personal statement or in an interview for university.” Katie, attendee at the Aspirations Conference

“I learnt about the support provided by universities that I hadn’t realised existed before” YC attendee.

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

Our New Group Mentoring Programme

Thanks to the generosity of the National Lottery Community Fund, YCDT received a 2-year grant of £181,000 to run the project from February 2024. This grant is to fund a new Group Mentoring Programme. The grant is paid quarterly, although in line with Charities SORP, the full grant value has been recognised as income for 2023/24 in these accounts.

The project was launched in February 2024, and covers Wiltshire, North Somerset, Bath & North East Somerset, Bristol & South Gloucestershire.

For this programme the majority of referrals are received directly from schools. As a consequence, YCDT has developed new relationships with teachers and pastoral support staff. The team at YCDT has developed new material for the programme, including promotional literature, referral forms, session content and tools and documentation for evaluation. During the year YCDT staff have engaged with 40 schools and delivered 12 school awareness sessions or lunchtime drop ins, generating a total of 59 referrals. We have also built on existing partnerships with 3 of the Young Carers Services that we already work with through the long-term mentoring programme and have engaged with a further 4. 29 Young Carers were identified as being suitable for the programme and are part of our 6-month groupwork course or are on a waiting list to join a group. In addition, our mentors connected with approximately 100 members of school staff. As well as informing them about the programme, we were able to provide learning about the issues faced by young carers. Many educational establishments don’t have dedicated support for young carers; Teaching staff are often unaware of the reason for young carers' low attendance, late homework, the need to keep a phone on them in school, being tired, feeling overwhelmed and other physical and mental health issues. Raising awareness has an unquantifiable effect on the number of pupils who may benefit from teachers’ increased empathy and understanding, regardless of whether they engage in YCDT’s mentoring support.

progressing on to the workplace.” Secondary School Family Support Worker

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

Organisational Growth

YCDT has grown rapidly over the previous 5 years. In 2020/21 YCDT was supporting 14 Young Carers with a small team of mentors on the long-term mentoring programme. In 2024/25 we will be supporting almost triple that number, with a plan to grow the cohort to 50 Young Carers. The new group mentoring programme is aiming to support 170 Young Carers over 2 years. It will also work with and benefit 50 schools and 40 community organisations across 5 local authorities in the South West.

This growth in Young Carer numbers, and an associated growth in volunteers has required investment in the YCDT staff team. A part time CEO was appointed in December 2023, two staff mentors recruited to deliver the Group Mentoring Programme and an additional fundraising and marketing officer joined the team in November 2024.

YCDT is a network partner of the Carers Trust, sitting on its Young Carer Network Group and helping develop and inform policies and services on a national level. In January 2024, YCDT was awarded the Excellence for Carers Quality Standard, recognising the commitment of everyone at YCDT in providing consistently high quality services to Young Carers.

Financial Report 2024

Thanks to our donors, grant giving trusts, supporters and staff, we are confident that our reserves policy will ensure the financial stability and cash to support our Young Carers through their entire development programme, which may last for four or five years and include a year of post programme support. As in previous years the Trustees have reaffirmed and strengthened our prudent reserves policy so that we will not take on a Young Carer unless there are sufficient actual funds available for the full term and that the internal service management cost for new Young Carers in the first year of their program should be protected as designated funds to support delivery of the 4 or 5 year program.

As additional protection for our Young Carers, we created in 2022 a designated funds category of reserves to set aside additional amounts to cover the internal service management cost for new Young Carers in their first year of the program. The Trustees have reviewed this reserve and maintained the designated funds provision agreed in 2023. After this adjustment, we will have free reserves to cover 3.6 months of our core support costs.

As a result of this policy, the Trust is confident the program agreed with each Young Carer can be completed in full and without interruption.

The sum of cash and investment balances at the end of the year was £222,224 (2023: £213,926)

The commitments to our Young Carers are £101,128 (2023: £107,885) and together with the transferred service management costs of £34,000 which have been classified by the Trustees as designated funds, the total commitment is £135,128 (2023: £141,885). 81% (2023: 71%) of our cash and investments are protected as restricted or designated funds and no longer form part of our general free funds.

Our investments are held through the Charities Aid Foundation Charity Deposit Platform (CAF) introduced by CAF Financial Solutions Ltd and provided by Flagstone Investment Management Ltd. This platform provides charities with a digital cash deposit solution to access multiple deposit

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

accounts with different banks, higher interest rates and better protection for cash reserves so that all balances are guaranteed by the Financial Services Compensation Board (FCS).

This year YCDT has specifically sought to start diversifying its income from being largely supported by Trusts and Foundations. It now has two emerging income streams that we will continue to develop: Community Fundraising and Business Support.

Donations this year amounted to £319,579 (2023: £154,608). £180,871 of this figure was from National Lottery Community Fund RC South West Region. Income from Trusts and Foundations was £122,657 (2023: 145,414) reflecting the increasing demand on these sources of funds from the charitable sector. Donations from community fundraising, individual giving and corporate partners increased to £16,051 (2023: £9,194.) In addition, donations of over £8,000 were received in this financial year relating to the 20[th] Anniversary Fundraising event in September 2023.

An increase in staff due to the appointment of a part time CEO and staff mentors for the Group Mentoring Programme increased our expenditure on charitable activities.

The total surplus of income over expenditure for the year rose to £121,320 (2023: £9,304). This is predominantly due to the whole of the two-year funding from the National Lottery Community Foundation being recognised in the 2023/24 financial year. This can be seen in the significantly higher restricted balances of £131,382 (2023: £3,000.)

Plans for 2025

Over 10 years of working with Young Carers, their families and their carer services have given us the practical experience to understand what the needs of our Young Carers and how working with Carer Services, we can help and encourage them to strive for more ambitious goals and become active and inspiring ambassadors for others in similar circumstances.

During the 2023/24 year the trustees, staff, Young Carers and stakeholders worked together to refresh the strategic plan for YCDT. Our priorities for the next three years will be to:

The 2025 Aspirations Conference will be held in April in the Easter break, hosted by Bath University, and supported by UWE, Bath Spa and Bristol Universities and ASK Apprenticeships.

The trustees are determined to ensure that our fundraising strategy continues to become diversified and sustainable. This year YCDT has specifically focused on diversifying its income from being largely supported by Trusts and Foundations, it now has two emerging income streams that we will continue to develop: Community Fundraising and Business Support. Plans are in place for local friend and fundraising events, and YCDT will be participating in the Bath Half Marathon for the first time.

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE TRUSTEES

The Trustees give their time freely and receive no remuneration for the work that they undertake as Trustee of the Charity. However, they can claim expenses for costs they incur in fulfilling their duties.

FINANCIAL RESERVES POLICY

The Trust's development strategy and financial reserves policy is governed by the following principles:

The trustees consider that the ideal level of reserves as at 30th September 2024 would be between 3 to 6 months of support costs for the core programme. Excluding the designated reserve for internal costs, this equates to between £26,000 and £52,000. Free reserves at the end of the year were £39,079 (2023: £46,141) which is in line with the Trustees target level of reserves.

There are no material uncertainties about the charity’s ability to continue as a going concern;

PUBLIC BENEFIT STATEMENT

In setting YCDT's objectives and planning its activities, the Trustees have given careful consideration to the Charity Commission’s public benefit guidance; We have considered how our planned activities will contribute to our vision and mission. All our charitable activities focus on assisting and supporting Young Carers who are providing a ‘significant level of care’ for a disabled or seriously ill family member and they are undertaken to further our charitable purposes for the public benefit.

PAYMENTS ON BEHALF OF INDIVIDUALS

Payments for services and support on behalf of individuals are considered by the trustees based on need. YCDT supports individuals who have potential but are unlikely to succeed without targeted support. Most payments for our Young Carers are for tutoring, counselling, mental health support, education and wider learning costs.

SAFEGUARDING

Safeguarding is a critical area of importance, and our primary concern is to promote the welfare and safety of Young Carers, their families, and those vulnerable people with whom we are involved. Safeguarding is considered at every trustee meeting. We have a dedicated safeguarding trainee and our policy is renewed and approved every year. All staff and volunteers are recruited using recognised safer recruitment processes, including completing enhanced DBS checks. In line with good practice, annual training is completed every year.

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YOUNG CARERS DEVELOPMENT TRUST REPORT OF THE BOARD OF DIRECTORS/TRUSTEES : FOR THE YEAR ENDED 30 SEPTEMBER 2024

RECRUITMENT AND TRAINING

The trustees have a procedure for the recruitment, induction and training of trustees, staff and volunteer Development Mentors. All new appointments undergo an induction program.

The procedure endeavours to ensure that individuals with an interest in the works of the charity, with appropriate range of expertise and sufficiently diverse skills to provide a reasonable representation of the community, are recruited, appointed and subsequently adequately versed in the affairs of the Trust and the responsibilities of the charity trusteeship.

RISK MANAGEMENT

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

They are also obliged to ensure the safety of vulnerable adults and children while involved in the activities of the charity. All policies and procedures are regularly reviewed to ensure their effective operation.

COMPLIANCE

Young Carers Development Trust is a private company limited by guarantee and registered as a charity. Its governing document is its Articles of Association and Memorandum which have been appropriately amended and approved by the Board of Trustees

GOVERNING DOCUMENT

The organisation is a charitable company limited by guarantee, incorporated on 13 September 2011 and registered as a charity on 17 December 2012. It is regulated by company law and The Charity Commissioners.

The company was incorporated under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are each required to contribute an amount not exceeding £1.

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YOUNG CARERS DEVELOPMENT TRUST ST!TEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

Statement of trustees’ responsibilities

The trustees (who are also directors of Young Carers Development Trust for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law 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 charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

INDEPENDENT EXAMINER

A resolution concerning the appointment of the independent examiner for the ensuing year will be proposed at the Annual General Meeting.

Signed on behalf of the board by:

Robert Cotton Chair

Date:<<<<<<<<<<<<;03 February 2025

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YOUNG CARERS DEVELOPMENT TRUST INDEPENDENT EX!MINER’S REPORT TO THE TRUSTEES ; FOR THE YEAR ENDED 30 SEPTEMBER 2024

Independent examiner’s report to the trustees of Young Carers Development Trust (‘the Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.

.

Responsibilities and basis of report

!s the charity’s trustees of the 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 !ct 2006 (‘the 2006 !ct’);

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 !ct 2011 (‘the 2011 !ct’); 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 examiner’s 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. 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 (FRS 102).

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.

Joshua N Kingston BSc., ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road, Flax Bourton Bristol BS48 1UR

Date: <<<<<<<<<<< 03 February 2025

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YOUNG CARERS DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 30 SEPTEMBER 2024

Note
Income from:
Donations
2
Other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Total funds at 1 October
14
Total funds at 30 September
14		 General
Designated
Funds
Funds
£
£
101,643
-
8,475
-
5,474
-
115,592
-
286
-
122,368
-
122,654
-
(7,062)
-
-
-
(7,062)
-
46,141
34,000
39,079
34,000
Unrestricted		 General
Designated
Funds
Funds
£
£
101,643
-
8,475
-
5,474
-
115,592
-
286
-
122,368
-
122,654
-
(7,062)
-
-
-
(7,062)
-
46,141
34,000
39,079
34,000
Unrestricted		 Restricted
Funds
£
217,936
-
-		 Total
2024
£
319,579
8,475
5,474		 Total
2023
£
154,608
38,509
3,427
115,592 - 217,936 333,528 196,544
286
122,368		 -
-		 3,000
86,554		 3,286
208,922		 31,903
155,337
122,654 - 89,554 212,208 187,240
(7,062)
-		 -
-		 128,382
-		 121,320
-		 9,304
-
(7,062)
46,141		 -
34,000		 128,382
3,000		 121,320
83,141		 9,304
73,837
39,079 34,000 131,382 204,461 83,141

The Charity's Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

Prior year fund comparatives are shown in note 11.

The notes on pages 16 to 24 form part of these financial statements

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Company number: 07771110

YOUNG CARERS DEVELOPMENT TRUST

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

Unrestricted Unrestricted
General Designated Restricted Total Funds Total Funds
Funds Funds Funds 2024 2023
Note £ £ £ £ £
Current Assets
Debtors 12 1,219 - 88,258 89,477 3,120
Investments 96,143 34,000 - 130,143 92,993
Cash at bank and in hand 48,957 - 43,124 92,081 120,933
146,319 34,000 131,382 311,701 217,046
Creditors : Amounts falling
due within one year 13 (6,112) (101,128) - (107,240) (133,905)
Net current assets 140,207 (67,128) 131,382 204,461 83,141
Net assets 140,207 (67,128) 131,382 204,461 83,141
Funds
Restricted funds 14 - - 131,382 131,382 3,000
Unrestricted funds
Designated funds 14 - 34,000 - 34,000 34,000
General funds 14 39,079 - - 39,079 46,141
39,079 34,000 131,382 204,461 83,141

See note 15 for prior year balance sheet fund comparative

For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The 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 Companies Act 2006.

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 144(2) of the Charities Act 2011. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS102 SORP.

These financial statements were approved by the trustees on ….............................................. and are signed on their behalf by:03 February 2025

……………………………….

Robert Cotton Chair of Trustees

The notes on pages 16 to 24 form part of these financial statements

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YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

1 Accounting policies

The Charity is a public benefit entity as defined under FRS102.

The financial statements are prepared on the going concern basis. The Trustees have given adequate consideration to the issue and are of the opinion that this is appropriate. There are no material uncertainties about the charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the cost of living crisis. Whilst the Trustees expect this to have an impact on the charity’s operations and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges.

b) Income Donated income without conditions attached, including that gifted under gift aid, is taken into account when received by the Charity. Charitable grants which have conditions which have not been fulfilled (as distinct from restrictions on the purpose for which they can be used) and are treated as liabilities and only recognised as income when the conditions are achieved.

c) Expenditure Donations and charitable grants payable are recognised as expenditure at the earlier of when they are paid and when they are committed to the recipient in a manner which is intended to be acted upon. Governance costs include the costs of trustee meetings, insurance and the cost of any legal advice to trustees on governance or constitutional matters or vetting of trustees.

d) Fund Accounting Restricted funds are those received for use on specific purposes. Expenditure which meets those criteria is allocated to that fund. Designated funds are amounts that have been set aside at the discretion of the trust. Unrestricted funds are those received or generated that can be used for the general purposes of the charity.

e) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

f) Creditors Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

g) Cash and cash equivalents Cash at bank and cash in hand includes cash and short term highly liquid investments with short maturity of three months or less from the date of acquisition or opening of the deposit or similar.

h) Donated Assets Where the charity has been donated assets of gifts in kind, and where it is possible to quantify the value, then these amounts are reflected in the statement of financial activities.

I) Investments Investments includes cash balances intended to be held for a longer term than three months.

16

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

2 Donations

Donations
Donations
Gifts in kind - University of the West of England
Grants received
The National Lottery Community Fund
Alchemy Trust
Beatrice Laing Foundation
BOM IT Solutions
Carers' Trust
Chippenham Town Council
Garfield Weston Foundation
Gilchrist Educational Trust
Groundwork UK
Hedley Foundation
Inman Charity
Jack Lane Charitable Trust
J&M Britton Trust
John James Foundation
Lennox Hannay Charitable trust
Lottery Community Fund
Mack Foundation
Nisbet trust
Paypal Giving Fund
PCC of Wellow
Ray Harris Charitable Trust
Sarum St Michael Educational Charity -
Sir Jules Thorn CT
Swire Charitable Trust
The Grace Trust
The Robert McAlpine Foundation
Violet Wills Charitable Trust
Wiltshire Community Foundation
Walter Guinness Charitable Trust		 Unrestricted
Funds
£
10,791
2,760
-
1,000
3,500
2,500
-
-
15,000
-
-
-
5,000
-
2,000
-
2,000
19,223
5,000
-
119
500
15,000
-
2,500
12,000
750
-
2,000
-
-		 Restricted
Funds
£
-
-
180,871
-
-
-
2,550
540
-
1,000
375
3,000
-
1,000
-
7,000
-
-
-
4,000
-
-
-
1,750
-
-
-
10,000
-
4,850
1,000		 Total
2024
£
10,791
2,760
180,871
1,000
3,500
2,500
2,550
540
15,000
1,000
375
3,000
5,000
1,000
2,000
7,000
2,000
19,223
5,000
4,000
119
500
15,000
1,750
2,500
12,000
750
10,000
2,000
4,850
1,000
101,643 217,936 319,579

17

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

2
Donations (Continued)
Prior Year Comparative
Donations
Donations
Grants received
Albert Hunt Trust
Alchemy Trust
Bath Spa University
Beatrice Laing Foundation
BOM IT Solutions
Carers' Trust
David Medlock Trust
Denman Trust
Edgar E Lawley Foundation
Edward Gostling Foundation
Eva Reckitt Trust Fund
Fitton Trust
Four Acres
Garfield Weston Foundation
Gillian Stevenson Charitable Trust
Jack Lane Charitable Trust
John James Foundation
Mrs R P Tindall Charitable Trust
Quartet
Ray Harris Trust
Robert McAlpine
Scobell Charitable Trust
Singer Foundation
Swire Charitable Trust
The Ann D Foundation
The David Pearlman Charitable Foundation
The Foyle Foundation
The Sir Jules Thorn Charitable Trust
Tula Trust
Violet Wills Charitable Trust
Walter Guinness Charitable Trust
Zedra trust WO Street Foundation		 Unrestricted
Funds
£
6,694
2,000
500
-
1,750
2,500
-
10,000
-
1,500
-
1,000
250
-
15,000
-
-
-
2,000
-
15,000
7,500
-
-
12,000
1,000
2,000
5,000
3,000
2,000
2,000
-
2,500		 Restricted
Funds
£
-
-
-
3,000
1,750
-
4,620
-
500
-
13,500
-
-
9,000
-
4,000
1,000
6,861
-
4,933
-
-
1,000
4,750
-
-
-
-
-
-
-
2,000
2,500		 Total
2023
£
6,694
2,000
500
3,000
3,500
2,500
4,620
10,000
500
1,500
13,500
1,000
250
9,000
15,000
4,000
1,000
6,861
2,000
4,933
15,000
7,500
1,000
4,750
12,000
1,000
2,000
5,000
3,000
2,000
2,000
2,000
5,000
95,194 59,414 154,608

3 Other trading activities

Other trading activities
Tenth Anniversary Gala Dinner
Calamity and Kindness event		 Unrestricted
Funds
£
8,475
-		 Restricted
Funds
£
-
-		 Total
2024
£
8,475
-		 Total
2023
£
28,410
10,099
8,475 - 8,475 38,509

The prior year comparatives were all represented by unrestricted funds.

4 Investments

Investments
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Bank interest receivable 5,474 - 5,474 3,427

The prior year comparatives were all represented by unrestricted funds.

18

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

5 Expenditure on raising funds

Unrestricted
Funds
£
Fundraising events
286
286
The prior year comparatives were all represented by unrestricted funds.		 Unrestricted
Funds
£
286		 Restricted
Funds
£
3,000
 Total
2024
£
3,286		 Total
2023
£
31,903
286 3,000 3,286 31,903

6 Expenditure on charitable activities

Grants
£
Payments made on behalf of young carers
21,961
Events for Young Carers
-
Oversight and support for young carers and Development Mentors -
21,961
Prior Year Comparative
Grants
£
Payments made on behalf of young carers
33,500
Events for Young Carers
-
Oversight and support for young carers and Development Mentors -
33,500
7
Support costs
Wages and salaries
Governance (see note 8)
Accountancy fees
Travel
Recruitment
Insurance
Web site and IT costs
Postage and stationery
Marketing
Licences and Subscriptions
Training
Bank charges
Consultancy
Sundry		 Grants
£
Payments made on behalf of young carers
21,961
Events for Young Carers
-
Oversight and support for young carers and Development Mentors -
21,961
Prior Year Comparative
Grants
£
Payments made on behalf of young carers
33,500
Events for Young Carers
-
Oversight and support for young carers and Development Mentors -
33,500
7
Support costs
Wages and salaries
Governance (see note 8)
Accountancy fees
Travel
Recruitment
Insurance
Web site and IT costs
Postage and stationery
Marketing
Licences and Subscriptions
Training
Bank charges
Consultancy
Sundry		 Direct costs
£
-
9,877
-		 Support
Costs
(Note 7)
£
-
-
177,084		 Total
2024
£
21,961
9,877
177,084
21,961 9,877 177,084 208,922
Direct costs
£
-
3,252
-		 Support
Costs
(Note 7)
£
-
-
118,585		 Total
2023
£
33,500
3,252
118,585
33,500 3,252 118,585 155,337
Total
2024
£
143,502
3,471
3,184
1,656
1,328
743
3,856
1,227
2,471
1,802
1,495
103
4,011
8,235		 Total
2023
£
89,007
2,974
1,172
3,066
2,537
687
1,857
454
1,354
1,223
711
99
6,386
7,058
177,084 118,585

19

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

8 Governance costs

Governance costs
Meeting expenses
Independent examination
Accounts preparation		 Unrestricted
Funds
£
1,203
1,068
1,200		 Restricted
Funds
£
-
-
-		 Total
2024
£
1,203
1,068
1,200		 Total
2023
£
974
940
1,060
3,471 - 3,471 2,974

The prior year comparatives were all represented by unrestricted funds.

9 Trustees expenses

Aggregate donations from Trustees, key management personnel and related parties were £2,000 (2023: £1,000) No trustees were reimbursed for expenses incurred during the current year. During the prior year, two trustees were reimbursed a total of £444 for travel expenses incurred as part of their trustee duties.

10 Staff costs

Total staff costs were as follows:

Wages and salaries
Social security costs
Other pension costs
The average number of employees during the year was as follows:
Average Number (headcount) of employees		 Total
2024
£
133,027
5,385
5,090		 Total
2023
£
83,938
2,196
2,873
143,502 89,007
Total
2024
5		 Total
2023
3

No employee received remuneration of more than £60,000 during the year (2023: Nil)

The total aggregate employment benefits received by key management personnel were £96,222 (2023: £78,156).

20

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

11 Prior year fund comparatives

Income from:
Donations
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Total funds at 1 October
Total funds at 30 September		 General
Designated
Funds
Funds
£
£
95,194
-
38,509
-
3,427
-
Unrestricted		 General
Designated
Funds
Funds
£
£
95,194
-
38,509
-
3,427
-
Unrestricted		 Restricted
Funds
£
59,414
-
-		 Total
2023
£
154,608
38,509
3,427
137,130 - 59,414 196,544
31,903
95,923		 -
-		 -
59,414		 31,903
155,337
127,826 - 59,414 187,240
9,304
(2,000)		 -
2,000		 -
-		 9,304
-
7,304
38,837		 2,000
32,000		 -
3,000		 9,304
73,837
46,141 34,000 3,000 83,141

12 Debtors

Debtors
Trade debtors
Prepayments & accrued Income
Other debtors
Creditors
Trade creditors
Accruals and deferred income
Commitments to young carers
Tax and social security
Other creditors		 Total
2024
£
-
1,219
88,258		 Total
2023
£
1,750
1,370
-
89,477 3,120
Total
2024
£
861
2,268
101,128
2,983
-		 Total
2023
£
17,357
5,000
107,885
3,177
486
107,240 133,905

13 Creditors

21

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

14
Movement in funds
Restricted Funds
Carers' Trust
Chippenham Town Council
Four Acres
Gilchrist Educational Trust
Groundwork UK
Hedley Foundation
Jack Lane Charitable Trust
John James Foundation
Nisbet trust
Sarum St Michael Educational Charity
The National Lottery Community Fund
The Robert McAlpine Foundation
Wiltshire Community Foundation
Walter Guinness Charitable Trust
Unrestricted Funds
Designated funds
Commitments to Young Carers
General funds
Total Funds		 At
1 Oct 2023
£
-
-
3,000
-
-
-
-
-
-
-
-
-
-
-		 Income
£
2,550
540
-
1,000
375
3,000
1,000
7,000
4,000
1,750
180,871
10,000
4,850
1,000		 Expenditure
£
(2,550)
-
(3,000)
(1,000)
(375)
(3,000)
(1,000)
(3,500)
(4,000)
(1,750)
(53,529)
(10,000)
(4,850)
(1,000)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At
30 Sep 2024
£
-
540
-
-
-
-
-
3,500
-
-
127,342
-
-
-
3,000 217,936 (89,554) - 131,382
34,000
46,141		 -
115,592		 -
(122,654)		 -
-		 34,000
39,079
80,141 115,592 (122,654) - 73,079
83,141 333,528 (212,208) - 204,461

22

YOUNG CARERS DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024

14 Movement in funds (continued)

Prior year comparatives
Restricted Funds
Bath Spa University
Beatrice Laing Foundation
Carers' Trust
Denman Trust
Edward Gostling Foundation
Four Acres
Gillian Stevenson Charitable Trust
Jack Lane Charitable Trust
John James Foundation
Quartet
Scobell Charitable Trust
Singer Foundation
Walter Guinness Charitable Trust
Zedra Trust WO Street Foundation
University of the West of England
Unrestricted Funds
Designated funds
Commitments to Young Carers
General funds
Total Funds		 At
1 Oct 2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,000		 Income
£
3,000
1,750
4,620
500
13,500
9,000
4,000
1,000
6,861
4,933
1,000
4,750
2,000
2,500
-		 Expenditure
£
(3,000)
(1,750)
(4,620)
(500)
(13,500)
(6,000)
(4,000)
(1,000)
(6,861)
(4,933)
(1,000)
(4,750)
(2,000)
(2,500)
(3,000)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At
30 Sep 2023
£
-
-
-
-
-
3,000
-
-
-
-
-
-
-
-
-
3,000 59,414 (59,414) - 3,000
32,000
38,837		 -
137,130		 -
(127,826)		 2,000
(2,000)		 34,000
46,141
70,837 137,130 (127,826) - 80,141
73,837 196,544 (187,240) - 83,141

Restricted funds

Bath Spa University - funding for the Young Carers Aspirations Conference Beatrice Laing Foundation - funding received for new young carers Carers' Trust - Restricted grant received for YCAD partnership working Chippenham Town Council - Room hire for Group Mentoring Project

Denman Trust - Restricted to young carers in Bristol, BANES and South Gloucestershire area Edward Gostling Foundation - funding received for new young carers

Four Acres - Funds received for a fundraising and marketing assistant.

Gilchrist Educational Trust - Funds received for new Young Carers in 2024, including costs of support and overheads Gillian Stevenson Charitable Trust - funding received for new carers

Groundwork UK - Funds received for a new Young Carer in 2024 Hedley Foundation - Funds received for support for Long term programme Jack Lane Charitable Trust - funding received for Young carers in North Wiltshire John James Foundation - Restricted to young carers in the Bristol area.

Nisbet Trust - Restricted to young carers in the Bristol area.

Quartet Foundation - Restricted funds to support new young carers.

Sarum St Michael Educational Charity - Funds received for the Aspirations Conference Scobell Charitable Trust - funding received for young carers and costs of support in Bristol Singer Foundation - Restricted to new beneficiaries but includes core costs

23

YOUNG CARERS DEVELOPMENT TRUST NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

14 Movement in funds (continued)

The National Lottery Community Fund ‘RC South West Region' Restricted Grant - Funds for the new Group Mentoring Project

The Robert McAlpine Foundation - Funds received to support new Young Carers

UWE - Grant towards Aspirations Conference and service manager in April 2022.

Walter Guinness Trust- restricted to young carers in the Wiltshire area.

Wiltshire Community Foundation - To support Young Carers in Wiltshire & Swindon

Zedra Trust WO Street Foundation - funding received for new young carers including expenses

Designated funds

Commitments to young carers - Funds set aside to cover the internal service management cost for new young carers in their first year of the program.

15 Prior year balance sheet

Current Assets
Debtors
Investments
Cash at bank and in hand
Creditors : Amounts falling
due within one year
Net current assets
Net assets
Funds
Restricted funds
Unrestricted funds
Designated funds
General funds		 Total Funds
General
Designated
Restricted
2023
Funds
Funds
Funds
3,120
-
-
3,120
-
92,993
-
92,993
69,041
48,892
3,000
120,933
Unrestricted
72,161
141,885
3,000
217,046
(26,020)
(107,885)
-
(133,905)
46,141
34,000
3,000
83,141
46,141
34,000
3,000
83,141
-
-
3,000
3,000
-
34,000
-
34,000
46,141
-
-
46,141
46,141
34,000
3,000
83,141

16 Taxation

As a charity, the Young Carers Development Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s 256 of the Taxation of Chargeable Gains Act 1922 to the extent that these are applied to its charitable

No tax charges have arisen in the Charity.

17 Share Capital

The company is limited by guarantee and as such has no issued share capital. In the event of a winding up, the liability of each member is limited to £1.

18 Related parties

There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.

24

Audit Trail

Document Details Document Details Document Details
Title Accounts for signature
File Name Final Financial statements 2024 (ID 240163).pdf Final Financial statements 2024 (ID 240163).pdf
Document ID 732ec0dbe3b64cfea8341d30ce0cb84e
Fingerprint 855875308004b34b2c1e830b9367b7de
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