REGISTERED CO1¥1PNy INUI¥IBER: 08341220 (F.ngl#nd #nd Wales) REGISTERED CHARITY NUMBER: 11$1247 Report of the Trustees and Financial Statements for the Ye&r Ended 31 l¥larch 2024 (or :OLVERHA%IPTON YOL.'TH ZONE Lancastei Haskins Limited GTanvillL House 2 Teiiellhall Koad Woli'erhampton Wcsl fvlidlands '"14SB
WOLVERHAMPTON YOL TH zOE Contents of the Financial StatemeDts for the Year Ended 31 Illareh 2024 Page Reference And .4dministratiTr'e Details Report ofthe Trustees Statement of Trustees, Responsibilities 10 Report of the Independent Auditors Stateinent of Financial .4ctivities 14 Balance Sheet 15 Cash Flow St#tement 16 Note5 to the Cash Flow Statement 17 -Yotes lo the fi iD2Dcial Statements 18 Detailed Stxtement of Financial ActivitlCS 30
WOLI'ERHAMPTON YObTH ZONE Referellce and Administrative Detai15 for the Year Ended 31 larch 2024 TRUSTEES J Gough Iresiened 18.5.23) .Mrs P K Briguc Mrs A Beiijamin Mis K C Gtiffiths (resigncd 31.8.24) Mrs L J Bashford l Budd T D Longmorc (resigned 29.9.23) T Nqunro Mi55CLKSwft AKRaju Ms S A But¢heT (appointed 18.5.23) Mrs A K Summan-Ram {appoinlcd 27.3.24} E Vitslis (appointed 17.7.24) COMPANY SECRETARY Mrs A K Summxii-Ram REGISTF,RF.D OFFICE The Way School Street Woli'erbampton Vest Midlands WV3 UNR RECISTERED cOmP.Ny I%LIMBER 08341220 (En. (yland and Wales) REGISI'ERLD CRIARITY *LINIBER 1151?47 IYDEPENDENT ALTDITORS Lancaster Ilaskins Limited GranNille House 2 Teiicnhall Koad oliTcThamplon Wesi Midlands VI 4SB BA'KERs Handelsbanken Trinity Court Graund 2 Broadlands ¥'oli'erhainplon .10 6L71 Page I
WOLVERHAMPTO.Y YOUTH ZOYI E Report of the Trustees for the Year Ended 31 Lvlarch 2024 The trustccs who arc also dircctors of the charitv foT thL putposes of rhe Companies Act 2006: prcsL"nt their repx)rt ivith thc financial statement8 ot thc charity lor the }rear endcd 31 Maich 2024. The trustLL"S hai'e adopted thi provisions of Accowiting and RLpo7fling by Charitics= StatcrDLnt of Rccommcnded Practice applicablc to chdrilies preparing thcir iccoiinis in accordancu M'lth ihc Financial Rcporting Standard applicablc in IhL UK and Republic of Ircland (FRS 102) (effcctivc l Janry 2019)- Message from our cba1rlln 11 is with a profound sense of atitude ihat I present this my third and final annual report as ChaiT of Trustees of Ibe WolverhaThplon Yoiith Zone. Ol'er ihe past year, i%'e have seen remarkable achieTremenls and milestones as we have continued to renew this extraordinary bil.ell for our local young pc()ple. The collective efforts of our dedicated staff, volunteers, and community partners have been ill5tnuncnlal in creating an enN ironment ,here safcty" and opportunity come together, allowing our yOlg people to thriN'e and flourish. Our programmes have been designed aiid delivered ith awareness of the diN'erse inieresis and needs of our yOLmg peoplc, fostering an aimoiphere of inclusii.'ity and groivth. Thank you to all the young people prtCIPalIng across d)e range of cultural. arts, sporting, hospitaliry and lileskn.lls opportllnitlci at Thc IVay- it is a privilege lo ha¢ with us. The siipport from our sponsors and donors is extraordinary. Your gellerosily has enabled us to equip the Youth Zone with state-ot. the-art facTrlities and resources, en%uijnft thal our services remain accessible and of tTrLe higbest quality. The tireless 'ork of our staff team has ensured that these programmes nof only run smoothly but also re.qonale with the aspirations of oui young members. 11 is heartening lo see the positii."e impacl of our iiiitiatLN-es, as evidenced by the personal dei'elopmenl and Success stories of members, volunteers and staff. e hai'e also seen an increasing leN'el of engagyenieni firom parents and guardians. who%e inoI1.eMellt is cwcial to Ihc holistic development of the voung people we sen-.e. As we look back on ihe year, our collective commitment to safeguarding and nurturing the potential of our vouth has )ryeldcd tanoible results. The IlfolN'erhampton Youth Zone stands as a testament to what can be achieved w'hen community partncTS come together with a shared vi.sion Of empoTh'ering our younger generation to flourisb. Supporting the Wolverhampion Youth Zone can be a fulfillina cxpcrience, offering various opportunilies for involvcTncnl. Interested indii'iduals can contribuie bv voluDieering their time, participating in mentoring programs, or off¢ring tinancial suppon. IVL ivelcomc voluDieers to &ssist Thqth a range of activities and programs. Donations are crucial for bustainiiig thc faciliry's operaiions and expanding its reach. For more detsils on hotr to gct involved, I'isit the offiLial Nvebsitc or contact the Youth Zone diiectly. We can prok'ide rther guidance and infommtion on curreiit needs and opportllnities. In ¢losing, I exted my great thanks Èo every individual has playcd a part in making thc Wolverhampton Youth Zone a bcacon of hope and progress. The leadership from Paul and the rene'ed senior Icader5hip tram shoivs ivhat ran be aclile'ed building% neN'orks and pamncrships to benefit )'oung people. Congratulatioi)s to Edward Vitalis who is picking up the l)at(In as thc InLoming Chair of Trustees. It has bcLn an honour to serK'e alongside thc trusiees of Tlie Way, and I louk fonvard to Th'itne5sing thc continued success of the Youth Znne. Thank you (o all our partners fi)r your beliefand support for OUT Inission. Your contribution5 havL. been iniraluable, and (he legacy of YOUT cfforts ivill conliiiue to inspirc and shape the lives of many young peoplc for ycais to come. laii Budd (outgoing Chair of the Board of Trustees, W'olverhampton Youth Zone) Pagc 2
WOLVERHAI¥lEryON YOUTH ZON4E Report of the Trustees lor tbc Year Ended 31 March 2024 OBJECTIVES AND ACTtVlTIES Who we are Wolverhamplon Youth Zone, named by Joung people as The Ivav,. is a purpose-built facility for the city's youn¢J pcoplc afjed 8 - 19, and up to 25 for those with disabilities. The Youth Zonc proTrides a Sdfc cnvironment, where young p¢ople Cdll spend thcir Icisurc titne. helping eaLh young person lo raise their aspirdtions. as well as imprOe their physical and mental health. The Zone provides help, support, and education for young people of all abilities. predomiJ)2ntly rcsidcnt in ihe Wolverharnpton area. through the proi'ision of sport% arts and rccrcation aCtiltics, rncnloring and emplo}'ability support. Up to 20 diffeicDt dLiivilies tske place each night, such as football. boxing, danciiig, ¢lirnbiiig, creatii'e arts, music, drama, and emploj'abilitv training - all foT just £i ann1 nicmberihip and 50p pcr N'isit. ol operating model uses a unique parmership approach- draw'ing together the Local Authority, private s'eLlor businesses, young people and the Milder Ioc31 community. This partnership approach establishes the Youth Zone al th¢ hean of the conUnuity for the long term, whilst meeiing the needs of }oung people ioda} Objectil'es Nl'olN'erhdrnplun YoiitEL Zone's objectii'es are lo provide help, support and education for young people of all abilities, predomiiiantl), resident iii the Wolverhampton area, throuiFh pl0]Sion of sports, arts dnd rcLiealion aclii'ities, meIitoring dnd employability support. C)ur vi5inn TD be the b)O-to place for young pcople iu Ivolverharnpton. Our mission To ini'esl in young people, aged 8-18, lIoUgh safe, state of the art facilities, dedtcaled staff and quality, fun activities. 'e M'ill engage with young people on a J'oluntary basis. supporting, thcTn to thrii'c. makc pusitive decisions. creating gr0h and resiliencc foi the future. Aliyays pulling >oung people fwst. Our values TOCE'I"RIER 'e are comniitied 10 building positive. inclusii.-e relationships with all. Indii'iduals dre re%pcctid dnd cc.Icbratcd i%.iihin-l-hc iifd¥ Lon]tniitllly. IVL dri OPLn ¢ind sincLre. avt w'iih integrilj anil transparenl J and are accouiitablc foi" our .ords and actions. le dpproach all Il'e d17 wilh d 'can-d0' dllilude_ Ive are po%itive. d)'nJmic, and flexib&e and always give oiir bcst for lllolerhanhPt0n's voutio people. We cre<lte a Siife, posilii'e: aiid %iipponii.-e attnosphere tor all. Ive care for people and pa%sionatc in all w'e do. dTi LUTL%tantly ti'olvin¥ d11¥aS seek to impi'oiie. IK'-e groi¥. pi'ogress. ai)d deTr'elop as an orgaiiisatiL)ii aiid Ls iiidii."Iduals. We Icad by ¥ianiplc and inspiic c)thcr%. V¢ are needs-led and yoiin(y persun tocusLd IhroutrhvLIt uur '[L. HONEST Tr,YTr-RCF.TIC II'ELCOMING ASPIRATIOINAL YOUTH-LED Page 3
WoLvERH,IIPTOw YOL TH 7.ONE Report of the Trustees fur the Year Ended 31 March 2024 STRA TF.GIC REPORT AchiLvement and perforrnance Our actiTrities Thc chatit), delivers its nbjcctiTrcs thtough a purposc-built Youth £unc buildino brandcd 'Thc Way, wbich was built in the heart of thc City in OD¢ ofthè most dLprivL"d are8s of the IITest Midlands. It pro%'idcs somewhere for young pcople to and tiiVL thcm sotnLthing to do and somconc to talk lu in a safe environment, providing a hugc rangc of pusitifve aLliviliLs lor a minimal chaTgc pcr visit. Wc arc nomially open 6-days a wcck as a safc spacc for young people. The expericnccd and skilled staff and voluntccrs at 'l'hc Way Ln&Fage with young pcople aged bets&'ecn 8 and 19. or up to 25 for young pcoplc with disabilitics. by protr iding tirst-clas5 Sports, dance. music, rncdid, arts and recreation activitics, which CTnp(Iw'cr thcm to build greater self-confidencc and sclf-csl¥enL deN'elop positiNc IclatiuJ]5hips: raisc and achkc&e their aspirations, dcl'elop sclt-4lisciplinc, resilience and trust and liyc happier. hcalthicr Iiv¥S a5 per tbe object]eS of thc clwiÉy. Activitics offcT¢d includc= a multi-use outdoor all-weather sports pitch to h05t five-a-side football tnalches- a multi-iise four-eoun sports hall; - a perforniing arts studio for dance and theatre includin& 5tteet, hip hop and contemporary dance. choreography, drama and dance Icadership; a fully equipped fitDess suite. a music sttidio offcnng recording, producing. Ullxin(.. singin& DJ facilitics and Enusical instrnment coaching" illl ttLterprise media suite and programme through which young people can get support lookitLg for jobs and work experience placemen15 as 'ell as help WTiting their Cvs or enhancing inleTh'iew sknlls. a climbing wall: a training kitchen. giving }oung people essential life skills- - a boxsng g)Th' a 'Healih and Wellbeing Room,, offering a space for youn£ girK5 and WOTnen and bupport i*iih more challeiigiiig issues such as relationship5 and keeping safe- a café designed by the )'oung people and offering home cooked food at discount prices- an exteiided arts loom offering pottery, dra}lI]g. TIllg.. tashion, textiles: and photography,. and - a newly refurbished sensory room - designcd by our )'oung people. Pag¢ 4
WOL ERHAMPTON YOLITH ZOIYE Report of the TTliStees for ihe Year Ellded 31 .March 2024 STRATEGIC REPORT Achievement and performanee Our Ileritage Iu thc hcart of WO1crhaT[1p1on, a beacon of inspiration and opportunily arose in ?012, thanks lo the visionary collaboration bL"INTr"Lcn thc WolWerhnpt0n City Council, local businesses, and Onside. The Was, Youth ZonL, a drcatn championed by plll"lanthropists like Stel'e Morgan I".BF.. The Queen's Trust. and Si James's Place Charitable FoundatLO transfurn]Ld into a vibTanl rcalily, ofLerin¥ a sanLtLiaty i%"here the youth Lould soar. SinGe opening our doo)rs IT] FLbrry 2016, 'e ha¢ bccn a second homc lo voung peoplc aged 8-19, oflerinc an array of L)ver 20 actlVLti¢s nightly. Our purpose-built haven is more than just a building. il's a space ,her¢ young minds from all 'alkS of Iifc converge to explorc, create, and driam. HeTe, friendships blossom, skills arc honed, and potential is utdcashcd in an almospheTC brimming with energy and fi. At thc core of Thc Way l.outh Zone is our dedicated learn of youth Orke[s, the unsung heroes h0 provide unwavering support and guidance every day. They are the mentOTS, the confidants. and the cheerleader% who ensure that every yoiing persoi) feels heard. valucd, and ctnpow"crcd. Through Tncaning'lul convcr5atic)ns. collaborat1¢ PToJects, plaNTful gamcs. and speciali2ed Support, we offer transfornL4tie experiences that igDlte the spirit and f0sr resilience in our commutLily's youth. This year marks. the eighth full operalional year for The Ivav. Our progvammes and partnerships have colltinually eiTolved to address the shifiin(r needs- of the }'-oun? peoplc <ind the coniTnunily ,£ sce. Today's youih face real-time Lhallenges in rnental health: resilience, and cost of living. Il'e are profoundl). grateful to our past and present supporters for turning the Youth Zone vision into reality. We have a iesponsibility to,ardS our children and QUg people to they continue to reap the beiiefits of our sate, state-of-the-art facilities, committed staff. and high-qualit).. enjo!.7ble activities that f(KSter gtoThth and iesilience. FinAntial reiTrew Financial position A 8Limmary ot the incomL Lind expcndiiure is as folloivs". 2023 Total incotnc Total expenditie (excludiiig depreciation charges) l ?14.896 (1.273,3U8) 1,095,011 ( l.0()5,1 ti6) Ncl inciimei'(expendiiure) betore dLpreciation charges Dcpr¢cialion char?es li8,417) (12? 1401 22.1%) 1127.6471 Net iiicom¥l(expendiiurel for the )'ear (180,5i2) {97,X021 Reserves policy It is the policy of the charitv to TnaximisL fuiids, to cTJ%ure enough funds are aailable to covcr gupport ]d adTninistiatlOn Losls fo ihe loreseeable tuture. Since Ihe opening ot Ibe centre, and in line with other siniilar OTganisations, -I'he Way has Cstablishcd a rc5crvc polic) hICh Is TC.7cl.Cd aT]nually. and Is currcntly sel at a l¢v¢l of 3 oiiih5. As at thL ycar cnd the tree rescrvis ot"thL charity wcrc £262,000, which is in linc ii.'iih Ihe policy. Pagc 5
WOLVERHAMPTOY YOUTH ZONE Report of the Trustees for the Year Ended 31 IlaTch 2024 STIL4TEGIC REPORT Financial revie Cyoillg concern The Trustees have review'ed the ability of thc Charit), to continue to operare as a goiTLg Lonlern, Lonsidering the impact of inflation and other cxtemal envitomnentsl pressures in this rcliiw. AftLr carcliil anal51$ of the Charity's inLomc, cxpendilure and Ulestricted rescTVCS, the TruslLes are confident in the Charitv's ability to continuc d5 a going concern. Through the Seiiior thL Trustees continue to main11( in light control of the fi.xed Lost base and a clear line of sighi of IhL Fancial health of the Charity. .4ftcr making enquirics. thc Tnistees bave a reasonable iXPCCtation Ehal the charity has adequatL rcsourcL5 to continuL in opcrational L"xisience for the foreseeablc futuic. Thus, th¢y Lontinue to adopt thc goin¥ concctD basis of accounting in prcpaTing thL dnnual financial stlc lettts. Further dctails rcgaTding the adoption of th¢ goin(v conccrn bas15 can be lound in notc ? l of Ihc fmancial statcmciits. Directors trusttes The trustccs w,ho Jerved during the year and thereafter arc listcd on page l. Risk tnandgement The Trustees operate a considered and th()rough approach tu idclltifying and rnanagino thc majoi tisks" to which the Chariry is expose(t_ The risk rtgislcr, whiLh has been ui)der regular rei'ieiv ihis j'eai, is presented and reviewed aiinually (&% a minimum) b>. the Trnslee board. thc Scllior Liadctship l-Ldm rei ieiv the registcr quarterlj" aiid w'herc a signific&nt changL" in risk lei'el or type has bccn idcnCILied, u'ill escalate this lo the TLtte board more frequently. The Risk Register will bc kept utLdcr review to ensure it remain5 5Uitable. The Trustees have considered the principal risks and consider these to be.. recniitment, retention & ivellbeing of staff tean]s- failure to secure budgeted income from private and public funders and fundrdising actilities. In relation to recruitment, retention and wellbeing of staff teams, people planning is a regular aLlivity and progress És COlls?dcied agains1 the aims ot the organi.%alion. We want to attract and ietain people ikith (alei)t, COTnmitment, dnd a passion to niake a difference to Ihe lii'es of young people. Ive can support this throu<vh ini'esling in our team.. want stal'f who are deviloped lo meei Iheir 11 potential. Ille cali do this Ihroiigh good communicatioiis. internal training, employce support, perforniance and appraisal processes. In rclation to tsCLuring fimding, a siTrnificant Ici'cl ofsupport has already bccn gii'en and continues to be gcncralcd Irom seN'eral local and national benefactors for which we are qraleful. Alonoside limding from IVolverhamptTrn C"..ity Council and fees provided by us¢rs of the lacililies. this ts expected to cover operational rei'enue costs. Ive aFe working to broaden oui income base through a rcnewed communicalions and fundraising strategy. logeiher wilh targeted nd]I]g bids aligned to our delivcry programme. Page 6
WOLVERHA110 YOUTH LONE Report of the Trustee5 for the Year Ellded 31 March 2024 STIL4TEGIC REPORT Planning for thc futurc This veaT secs a Lhartge in leadership as Jackie Redding dLparted after ? ½ years of dediLatcd scrvice. Follomng an extensii'¢ and competiliN'e intervieH' process, tbe Boaid of Trusiees '"cre pleased to announce the appointmcnt of Paul Snapc as the new CEO of The M.'ay Youth Zone. Paul'8 experience combined with his alignment iiiith Thc Way's valucs and his undetstandine of the needs of The Way shone Ihrouoh. Paul brings with him a 'ealth of experience as a charity leader, in recent years at the lei.el of CEO. as .¢11 &s on th¢ ound experience of youth work in the earlier part of his LatceT. A new 4 year strdtetrry ha% been developed by the Board of Trustees and Senior Leadership Tiam in consultaLioll with young pcoplc, dnd the wider staff teallL The strategy. to thke The IAlaJ' Youth Zone from 024 (0 2028, consist of 4 key areas and priorities= Young Pros1O & Stak-ebolders CiroTh'ing and cnhancing our d)a[c. yOUth-Icd proi'ision through.. - Evolping our engaging offcr to young pcoplc Providing a sat.e and inclusiTre environmeni Bcttcr understandinu the Lmderlj'ing needs of J'oung people Ni]rturing kcy strategiL relationships wiih external patlners Internal & InfrastruLture Developin¥ and mainthining, a robust & supportive infrastructure by: Providingy robust foundations for the orgtranisation's sllccess - Ensuring a considerate, yel con5tructivc HR filllcrion CTenerating additional income to support young people - Ensurin(F thc upkccp, and ill]ptuvellKnl ot ihL building Fundraising & Comjnullications BuildiniTh a %iiqtainable tLinding modcl, supported by a rcputablc brand, achicvablc b}= Lxpdiiding & divcrsif)ing our funding & income sources SeCi1nl strategic 'income generation" partnerships Building, dTLd mainiaining, strong relationships Nviih donors EffectiN'ely conununicalinsT the "0[k of Thc Way" Learning & People Development Crealiiig a nurring culture, and be a great place to ll'ork through the- Cultivation ot-a high perforn]ing staff ledtn elTeclii'e leadership C.uliivaiion of a high perforniiiig bnard of Trustee Production and implcrncnlatiun ol a Irdining and diclOPment proallnC Review of our nceds analysis tools: sJstems/processes Our Impact & Social Tralue Our achievements and perforn]anee in this period will be measured against these objectllTes as well as a range ot KPIS and OKRS, across the u,hole organtsation and staff learn_ Some SLtccess inth"cator£ might inclLLde.' Increase in opcning hours dnd vuuth pruvibion - 800 1 young people attending per week. - 500/0+ ot members consistently attending- 20+ activities offered per session; at least 500 affordable (or free) hcalthy meals providLd wcckly. - ensuting accessibility tor our members 14.ho have additional needs or a disability- geographical and demographic reach is ml15ed to represent the populaiion of youiig people in Wolverharnpton; delii'LTing monthly ei."idence of impaLI on young peoplc inicraction i1th young PLoplc' and dclivcring cost effeciii'e, eiigaging holiday actii.-ities and food programmes. Page 7
WOL.ERHAIPTO.w YOUTH ZONE Rcport of the Tru5tee$ for tbe Year Ended 31 March 2024 STIL4TEGIC REPORT At thc hcdrt of our mission is a commitmcnt to empowcr thc young people of WolverhaJnpton. Beyond the universal aLuess to our youth club and sports facilitLeS, Tht Way slands as a beacon uf hopu, OtTcring targeted projects for some uf the city's most lnerabIts young people_ Thcsi includc UPEM)rtunities for cmplo}'ability, vY]terprisc, mcntoritLg, and oiirrcach. We are more than jiist a vcnuc- we ate also a home to altcrnativc LduLalion proi'idcrs. As dn organisalion, 'e pled(ye lo adapl and evoli.'c lo meet the e%'er-changii)g necds of Ivulverhamplon's children and young people. Our commitment is to remain flexible. responsive. and alw'Jvs in lune with their need5. We promise to continue our dialogue witb young people, ensuring ihat wc deliN'er whai they d&sire and requiie. In our quest to make d diffcrence. we collaborate with pannets across the eity. amplifyi.ng our impact through collective cffoFI. We qtrive to avoid dupliLalivn of ii'ork and en5urc that joung people havi accL"ss to specialist support hcn needed bv 8ignpostin¥ them in the t dircction. Our w isioi) is to sustain the Youth Zone as a catalyst for change, -sparkiThg raised aspirations and improved outcomes dmongst the yowig members of our local communitie%. 11.e enk'ision a Ihere the.? are happier: healthi'er. and make more constructivc use of their leisurc titnc. contributing to a reduction ill nuisance and anti-social behaviout. Thc ripple effects of our work will be felt far and ivide. The long-tettn publi¢ benefits will manifest in Improved health, reduced crime, cnhanced learning and eniployability. and oreater cotnmuniry cohesion. By investing in our young people, Is'c are investing in our futUTe. We all STand to b¢nefil - from appreciating 'hO they are now lo celebrating eerythIng they migJht become and achieve. This is our pledge, our Missio and our comm&tment. Togethcr, we can pave The Nl'ay. STRUCTURE, GOIIERP*A.YCE AND mANAGEIElT Goi'erning document oli'erhampton Youth 7onc is a companv limited bv guarnitee withoul sharc capital and registered under the Cornpanies Aci. The compkny is governed by its Nqemorandum and Articles of Association and management of the company's affairs is vested in Ihe Tntee. Recrllitment and appointtnent of trustees New Trustees are to be recruited according to the skills and capactry necds of the chariry and the .suitability of possible candidates. Following the opening of Ihe facility thc composition of the Board has chanued lo reflect people who are active in the local community_ As such. Trusiees hae beeii appointed in relaiion to their integrity and probity and proi'en record in their Lhosen professional careei. It 15 cxpecled thai the policy attaching lo appointments will continue in that vcin. The background ot cach appointee is such thai formal training is not required. Ncwly appointed TnLStees arc provided with a compreheDsive induction to Thl. Nl'av, Ihmuoh in-hou5c meelingg ivith ihe existing -1 Tusluus and the Chicf Lxccutii.-e O(ficer. 'l-hc rulcs ol- TILL8tee appointmLlli aic set out in the company's MLThorandum and Articlcs or Association, whiLh may be inspected at the registered Olce_ Organisational strueture Wolverlianipton Yc)uth Zone is governed by its Board of Tru5tecs. which is responsible for setting the strategic direction of the organisation and the policy of Ihc charity". The Trustees carry thc uliimatc responsibility for ihe conduct of the Wolvcrlianiproii Youth Zonc and for ensuring that the chaiity sat151ie.s its legal and conlraciual obligation8_ The l-ruslccs meet on a bi-monihly basib. Day-to-day tnallagemeni is delegaied to the Chief ExeCutiC 01CCI, Paul Snape. The Board of Trustees Lonsidcrs that working with the Board. Th'ho are the directors, thL Chief Executii'e Officer is key to the leadcrship of the chariry. Paul is supported by an expcrienccd, skilled, and effective ManagmnI team. The pay nf the Chicf Execuiive Olyicer is reviewed annually by thc Board of TTuslees. Voluntecrs In addition to ctnployng full and part-limc staff. The Wa5ès opcrating model Is also reliant on Ihc 5UPPOrt of regular volunteers who attcnd specific sessions to cngagc wilh loung people across all OUT JCLivities_ Wc arc incrcdibly thankfvl and appreciatiwe lo all our voluntccts, and Ihey are a vital part of our charitablc work. Page 8
woLVERmPToN YOUTH zO,E Report of the Trustees for the Year EDded 31 March 2024 STRUCTURF., GON'F.RNANCE AND MAYAGENIENT H'ider network Ic arL part ot-thc Onsidi NcN'ork, a groM"in(y group of youth centres 'e call Youth Zones across the UK, devclopcd by the charit! Onside Youth 7.ones (charit! numbcr I12iX9i) N*ith thc samc Tnissiun, to providc young people with the DPPOrtunity to shinc and fulfil thcir pvlcnliul. Bctwccn us wc support tcn% of Ihou%2nds of )'oung people natIonlde. As the Onside Nettork bTOWS together, it works togcihLr. W¢ support each othcr by sharing idcas, learning from each other about what works for yountr pcople and by championing the power of youth w'ork locally. regionally and nationally. Over 50,000 young people are members of Onside's (vrowqng Ne.Ork. currently in areas including= Barkn"ng and Dag)cnham, Bamel. Bolton. Blackburn. Carlisle, Chorley.. Croydon. Hammersmith and Fulham, Manchester. Oldham. Warringron, Wigan and Wirral. IV¢ are proud io be part of a NetsTrork that has been putting young people and their needs firsi for over a decade. Its inspiring. It's empoiiering. And it works_ Fund-raisin% standards iDf4)rmation The Trustees wish to record their th)k8 to all those Trusts, indii'idual.s and companic¥ who haL tnade donations to 5UPPOrt Ihc work of tbL Charity. NIKoli'erbampton Youtb 7.one raises fwids bv approaching bllsine.sses aiid philaiithroplc indiN'iduals who hai'e an interest in supportiiig youn people. Ive aLso appl).- for grants and to TTusl% that hai-'e the same interest. The charity is not currently a member of any voluntary scheme for regulating fund-raising. During Ibe pctiod, the charity receii'ed no complaint% regarding its fund-raisitLg actillIes. The ckwity does not slreet or door-to-door fund_raise so does not come into contact ivith vulnerable or other people who mav feel intruded upon, be UllTcdsonabl}' approached, or have pressure placed upon thevn. AL,DITORS The auditors, Lancaster Haskins Limitel will be proposcd for rc-appointn]eni at the forthcoming Annual CFeneral Meeting. Each of the persons who are Trustees of the charitsble company at the date of approN'al of this report confinns that- So far as the Trustee is are there is no relevant audit inf0mlI0 of ii,hich the charitable company auditor Rs i]ndivdrc,' and Thc TruslL'L has tiikcn all IhL steps that Ihes, oughi to hal'e taken as a Ttee in order to make them-selvus aware of an}, relevant audit inforniation aiid io csthb1h ihai ihc chantsblc CVTllPally'S auditor is awaTL ofthat inforniation. The firiancial statenients compl), with current stawtory requiremeiits. the companys Memorandum and .4rticlcs of Association and the Charities SORP. Report ot" the trustees, incorporating a strategic report: approi'ed bv order of ihe board of trustees. as thc eompany directors, on 25 ScplLmbci 2024 and signed on ihc board'5 behalf by= E Vitalis - Truslcc Page 9
WOI.VERIIAMPTON YOL TH ZONE Ststcment of Trustees, Rcsponsibililies fur the Year F.llded 31 Lmarch 2024 Thc tru.stcc.s {w."ho are also thc diTcct015 of Mloli.'crhampton Youth Zone for thc putposcy ol company law) arc Tcsponsible for preparing thc Report of thc TrustLes and (be financial statcmcnts in aLcordance with applicable law and Llnitcd Kingdom Accounting Standards (Unitcd Kingdorn Generallv Accepted Accouiiting. Practiec) including Financial Rcporting Stalldard 102 "Thc Financial Rcpurting Standard applicablc in ihe UK and Rcpublic of Ireland" Compally law requires thc tru5tCC5 Lo PTeparc financial staMentS for each financial ycar w'bich gil'e a truc and faiT vicw of the stste ol affdirs of the charitable compaiiy and of the inLoming resources and applicatiun of resources: inCludg thc income and cxpcndiiure. of the charitablc cuwany for that period. In picpanTJg ihose fmancial siatements, thc trustLes are required to select suitable accounting policies and thL"n apply rhem consistently- obscrvL th¢ methods and principles in the Charity SORP" make judgements and estimatcs thal are reasonable and prudcnL state w'hether applicablc accounting standards haNc follo"ed. subject to any nlaterial departurcs disLlosed and cxplaincd in the financial statcmcDIs'" prepare the financial staiements on thc goin£ concern basis unles5 It is itthppropriaie to pre5umc that the chdritablc company will continue in business. The trustees are responsible for keeping proper accountints records which disclose with ieasonable accuracy at any tin)e the financial position of the charitable compan! and lo enable them to ensure that Ihe financial statements comply with Ihe Companies Act 2006. Thev are also responsible for safe_guaidillts the assets of the charitable company and hence for takingT re&sonablc st¢ps for the prevention and dctcclioll of fraud and other irrcgulaDtIcs_ In so tar as the trustees are aTh?re= there is no ielev.ant audit infomiation of ii.'hich the charitable company's auditors are unaivare" and thL Itusttyes ha&e takcn all 51cps that they oughi hafve takeii to tnakc thctt]5Llves aware of any Televant audit information and to establish Ihat the audiiors are aTe ot-that infOrtion. The Trustees are responsible tor the maintenance and integrity of the corporate and financial infomiation included in the charitable company's 'ebSIte. Legislahon in the United Kingdom goi'eming the preparation and dissernination of the fJnanLial slaiements may diffcr from legislation in other JiSdICtIOns_ Page 10
Report of the Independent Auditors to the Members of Woli'erhatnpton Youth L•ne Opinion 11 c ha'C audited thc financial statcmcnt5 of WolvcrhamptotL Youth Zonc (thc 'chatilablc cotnpally,) for the year ended 31 March 2024 iyhich Lomprise the Statement of Financial Aciivities, the Balance Sheet, the Cash F low. Statcn]¢nt <End nolcs to the financial .statcincnts, including a 5Utntnary of significant accountino policics. The financi31 rcporting fraMc,0rk that ha8 btcn applicd in thcir prcparalion is applicablc law and Lnitcd KiDgdom Accounting Standards (UnÉtLd K[nud0 GetLciall)' Accepied Accouniing Praclice). including Financial Reportitig Standard 102 '1-hc l.inanLial Rcportin(y Standard applicablc in thc UK and RLPLiblic of ItclaThd'. In our opinion the finaTtcial %talcrncnL%-. give a trui and fair vie. ot the state of the charitable compan)" s affairs as ai 31 .March ?024 of its incoming iesourLes and appb"cation of resources, including its income and expenditure. for the year then ended. haTre been properly preparcd in accoTdancc ii.ith Unitcd Kingdom Gcncrall%, Acccptcd Accowiling Practice, iiicluding Financial Reporting Standard 102 'The Financial Reporting %tandard applicable in the UK and RLpublic of Ireland,; and have been prepared in accordancc with tlLC rcquircmcnts of tbc Companics Act 20U6. asis for opinion 'L conduclLd Ol audit in accordance Nvith International Standards on AudJ"ting IUK) (ISAS (UK)} aT)d applicablL Idw. Our iesponsibililies under those srandards are further described in the Auditors, responslbilTtie foi Ihc audil of the financial Statements section of our rcport. Ive are independent ol tbe cbatiiable company in accordance with the ethical reqiiiremenls that are relevant 10 our audit of the financial .statements in the LTK, including the FRC'S Ethical Standard, aiid we have fulfilled oui other ethical respollsibililies in accordance 1th these requiremeiils. We beliewe that the audit ei'idence we have obtained ts sufticient and appropriaie lo provide a basis for our opinion. Conclusions relating to going concern In auditing thc financial slalemenls, we bal'e concluded thai Ihe lrnsiees. use of the going concern basis of accountingJ in the preparation of the financial statement.s is appropriate. Based on the work we have perfornied, 'C have not identified any material uncertainties relating to evcnls or conditions tliat. individually or collcctivLly. mav cast sigt]ificant doubt on the charitable companys abilit5, to continue as a going onLern for a period ot at least N'elN'e month5 from }hen the financial 51atemenls are authorised for issue. OUT responsibilities and the respollsibilitics of Ihc truslees 1th respect to going concern are described in the releNTrnt seciions of this report. Other information The iruslees are responsible for the other infomtion. The other infomution comprises the infonnation included in the Annual Report. other than the financial statements and our Report ot-the Independent Auditors thcrLon. Our opinion on the fiiiancial statement5 does not cover the othei infortnation and, cxccpt to (he c.xtent OtheiSe explicitly stated in QUF Feport, w.e do not cxprLSS an). forni of assurance conLlusion thereon. In connection with our audit ot. the financial statements, our responsibility is to read the other information and, in doing so, consider ii'hcthcr the other inforniation is materially inconsisient wilh Ihe financial statetnents or our know".Icdge obtained in the audit or otherwise appears to be materially misstated. If identify such material inconsistencies or apparent matetial misslalemcnts, i¥e arc rcquircd to deteTmine ii.-hetlier this gil'es rise to a material misstatement in th¢ linancial slatemetits themselve8. If. based on the w'ork hai'c performed, Ike conclude thai there is a matcridl mis5tatcmcnt af this nther intorn)arion, we are reqllircd 10 rcport thai tact. Wc hae nothing lo rcport in ihis regard_ Opinion5 on other marters prescribed bv the Companies Act 2006 In our opinion, based on the Ork undertaken in the course of the audi[= thc infomialion given in die Report of the Twstees for the financial vear for which the financial statements are prepared is consistent with the financial statcments- and IIIL RLpoil of Ihc Trustees has been prepared in accordance applicable legal requirements. Pag¢ll
Report of thc Independent Auditors to the Mewbers of Wolverhampton Youth Zonc -Vlallers on which we are required to report by exceptio In thc li(Tht of thL Lnuw,ledge and undcrstandingT of the chariiablc company and ils en%Tironrnent obtaillcd in the course of thc audit, we have not idcntificd Tnaterial Missiat¢[n¢u in the Report of the TnL8tces. WL bave nothing to report in respcct of the follolg matters 'here the Covnpanics Act 2006 requires us to report to you if. in our opinion.. adcquate acLoiinling record5 havc not becn kepi or returns adequate for our audit havc not been received from branches not VLSitid b) us. or the financial slatemenis are not iii agteemenl iviih the dCLoiintillg records aiid returns. or certain disclosures of tN%tee% remuneration specified b} lai are not made" 01 wc havL not receivcd all IhL information and explanations w'c require for our audit. Responsibilities of trustees As Lxpldined more full}, in the StateTnenl of TnLsiees' RespoDsibilities. Ihe trngtees (th0 are dlso the directors of the charitable company foT the pLpose$ of company laiv) are respowsible for the preparation of the financial sldtemenls and for beingF satisfied thal they give a true and fair le1¥, and for such illtemal control as the trustecs determine is necessary lo enable the preparation of financial statements thai are free from material Tnis5talcment, Ivhcther due to fraud or error. In preparing the financial statements, the trLiStecs are reswnsible for asse4sing the charitable company's ability to coi)linue as a going concern: disclosing, as applicable, matters rclated lo going conceni and using the going eoncem basis of accounting unless the trnstees either inlcnd lo IiqLiidate the charitable company or ro ceasc operalions, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial stalemenls Our objectives aic lu ubiain reawnablc assuraiice about 74thether the fiiiancial statements as a wholc are free from Tnalerial misstatement, whether due to fraud or error, and lo issue a Report of the Independent Aiidilors that includes our opinion. Reasonable assurance is a hioh level of assurance. but is not a guaraniee Ihai an audil conducted in accordancc with ISA5 (UK) will alii'ays detect a mateTial misslalemenl when it exists. Misstatements can arise from fraud or error and are considered material If, indiiidually or in Ihe aggregate. the could reasonably be expected to influeiice the econoniic decisions of users iaken on the basis of the4e financial statements. The extent to ii.'hich our proecdures are Capable of detectiT]g irregulattties, including fraud is detailed belom,: Te have obtaiiiLd an undcrsianding of the legal and regrylalory Irdmeivorks thal are applicable 10 thc Lliatil).. I'he kcy lam'b dnd iegulation% 'C coii%idLILd ale onioing compliancc i4.'iih the C.onipai)ies .Ict ?006, the Charitie% Act 201 I, eniplo5ryneiit law. hLalth and satcty. pcnsiun legislalioi) and iTroi"kingF witli cliildren regulations. e gdinid dn undersianding of li01 ihe charit! is compl)'ing '1th ihose fran]e-0rks tlirou¥h discussion iviih managemeiit aiid ihe Trustee% and revicw ol the cliariry's docuiiiei)ted polTLiC% and procLdures. e assessed the %LISLeptibility ol- the cl)ariWs financial stalLmenls (o matcrial misslen)er7t includiiig fraucl b! considcrii)g the k"e}' ri%ks iinpdLling the financial slatenienls. The kev risks coiisidered dpplicdble io cliai'ities were identitied fraud risks with respect tn n)2n2gemeiit OlFerridc. titning (Jf reconnitioii ol- iiicnme. manipulation of rcsiilis to budgel and gToiniT Lollicrn. WL noted no is4ues In relation 10 thesL kcy riskg. 11-'e samplL ie5(ed journal eiitrics to supportin(t doLiimeniaiion and tlie reco&miÉion of projccl inLoine. Il'e obtaiiicd aiid evalLEatLd IhL -l-rusleLs' goiiig coiicem abSC%5Tll¥ni and assesscd ihL kL! assumptioiis aiid t<)ILLas1s driving Ihe Tnistces, assessment. including Iheir a*%essmei)t o( liquidilv and (he operarional Icsilicncc ut-lhe cl)arit5'. Based oll our iindL'rslandiiis we designed nur audit proLedLLrcs to idcnLif! i)ni)-compliance wtli such laws and rcgxulalioiis. 'e l)ai'e reviewL.d that the ehariiy's conirol en&irnnment 15 adcquaie for lh¢ size ot Ihe chariry. We coinmw)icated idciitified laivs aiid regulatitTrns throughout our ieain aiid reinain alert 10 aiiy indicalion of non-compliaiice tIiToughout iliL audil. A ficher descriptioii of our responsibilities lor thc aiidii of the financial statements is locatcd on Ihe Finaiicial Rcporting C".ouncil's website at ivi¥w.fr¢.org.uWaudiiorsrespon.sibilities_ This description fomis part of our RLpori ot. th¢ Independcnt Auditors. Pagc 12
Report of the Iudcpcndent Auditurs to tht Members of Woli'erhampton Youth Zone Use of our report This r¢port is made solely to the charitable company's mcmbers: as a body, in accordancc w'ith C'hapter 3 of Part 16 of the Cumpanics Act 2006. Our audit WOTk has been undertaken so that ..e might stale 10 the charitablc company's members those matters we are required to stare to them in an auditors, report and for no othcr PUTPOSC. To the lullest extL Thl PLrmitted by law, w'L du not accept or assume responsibili io anvone other than the chariiable compan. and thc charitable company's mernbers as a bod)., for our audit ivork-, for this rcpon, or toi thc opiiiions is"c hav¥ funned. Christopher Birchell FCA (Senior Statutory- Auditor) for and on behalf of Lancastcr Haskins Lill]itcd Granville Hoiise 2 "1 ettenhall Road Wolverhamptnn Wesl Midlands WW14SB Date.. 03 t.l.o1.1o14............. Pau¢" 13
I1'OLvERmPT0lN YOL,TH ZONE Statement ol Finan¢ial.4ctiiTrties for tbe Year Ended 31 l¥farfh 2024 31_3.24 Total funds 31.3.23 Total funds UDreslricled funds Restrictcd fid otes 1Tr4COME AND ENDOWIIENTS FROM Donatt"ons and Icgacies 719,236 349.165 1,068.401 963,106 Cbaritable activities McmbLrsbip fees Session fees Catcring income Roorn knire 9.788 6.729 40,205 76,4?8 9,788 6,729 4,174 5,257 20,094 91,319 76,428 OthcT trading activiiles Other income 6.156 7.189 6,156 7,189 9,193 1,868 Total 865.73 I 349.165 1,214,896 1,095.011 EXPENDITUIiE ON Rai%ing lidS 75,122 75,122 51,131 Cbaritabl¢ actii'ities All Lhatilable activities R.031 ?69 289,057 1,320,326 1,141,682 I'otxl 1.106,391 289,057 1,395.448 1,192,813 NET INCOME/(EXPE.NDITURE) (240.660} 60.10 (180,552) (97,802) RECONCILL4TION OF FLNDS Total ndS broughi forward 4,781,821 22.565 4.8(H,386 4.902.188 TOTAI. FUNDS CARRIED FORWARD 4.541.161 82.673 4,623,834 4,804,386 cO'TINUiNG OPERATIOL%S The aboN'e results are deni'ed from colliinuing operations. All gains and losses recogni5ed in the period are included above. Th¢. notes fonn part of thcsc financial statements Pag¢ 14
WOL VERHALIIPTON YOL TH ZO_NE Balance Sheet 31 March 2074 31_.3.23 Total nds Unrestricted funds Restncted fund Total funds Notes FIXED ASSETS Tangible assets 12 4.279,961 4,279,961 4,387,149 CLRRENT ASSETS Debtors Ca%h at bank and in hand 13 103.976 314.318 IOJ.976 396,991 54,343 432,897 82,673 418,294 82.67) 500.967 487,240 CREDITORS Amounts falling duc within onc veat 14 {157.094) {157.094) (70.003) NET CURRLNT .4SSETS 261.200 82.673 343,1173 417,237 TOTAL ASSETS LESS CURRF.NT LIABILITIES 4.541.161 4,623,834 4,804,386 NET ASSETS 4.54l,161 82,673 4,623,834 4,804,386 Fuf4DS lJnrL%trictcd fund4 Rebtricted funds 15 4,541.161 82,673 4,781,821 22.565 TOTAL FUNDS 4,6•3,834 4,804.386 The fll)ancial statements were appioved by the Board of Ttustees and authon5ed foi Issue on 25 September 2024 and were signed on its behalf by.. E Vitalis rustee A K Summan-Ram - Trusiee The notes foTm part of thc5c financial statemcnts Page 15
WOLI'ERHAfvIPTOL% YOL TH ZOIE Cash Flow Statement for the Year Ended 3 1 Mareb 2024 31.3. 31.3.23 Noles Cash flo$ from operating activities Cash (ycncratcd from operations (20,9541 Net cash (used in)Iprovided by opcrating aclii'ities (20,954) 72,552 Cash flows from investing activRties Purchasc of tdngible fixed se15 (14,952) Net casb (used in)Iprovided by investing actsvities (14,952) Change in cash and casb equii"alents the reporting period Casb And cash equii'alents at the beginnin% of the reporting period 135,906) 72,55? 432,897 360,345 Cash and casb equivalents at the end of the reporting period 396,991 432.897 Th¢ nol¢s forni part of these financial statcinLnts Pauc 16
WOLVERHAMPTON YOUTH ZONE Notes to the Cash Flop Statement for the Year Ended 31 ).larth 2024 RECOINCILIA T10Tr4 OF.NET EXPE.NDITLIRE TO IYET C.4SH FLOW FRONI OPERATING ACTIVITIES 31.3.24 31.3.23 ll'et expenditure for the reporting period (as per the Statement of Financial .IctRvities) Adjustments for: t)epreciation Charges (Inir¢asc)Id¢cTeasL in dcbiors Lncr¢ase/(dLcrease) in creditors (180,552) (97.802) 122.14U (49.633) 87,091 127,647 49,735 {7,028) Net cash (used in}Iprovided by operations {20,954) 72.552 ALYALYSIS OF cHAGEs IN ET FUliDS At l.4.?3 Cash flow At 31.3.24 LNet cash Cash at bank and in hand 432.897 (35,906) 396,991 432,897 (35.906) 396,991 Total 4)2.897 (35,906) 396,991 The notes fonn part olthese fmancial statements Pa2e 17
WOLN'ERHALMPTON YOUTH ZONE otes to the Financial SialeilleDts for the Year Eudcd 31 March 2024 ACCoUNTIG POLICIES Basis of preparing the financial statell)ents Thc fLnancial statements ol the charitable company, w'hich is a public bcncfit entity under FRS 102, havc been prepared in accordancc Trth the Charitics SOIiP (FKS 10?} 'Accouniinfj and Reportin<T by Charitics.. Stalement Of Rccotntllcnded PraLlice applicable to charities prcpattng their accounts in aLcordance with the Financial Reporting Standard applicablc in thL UK dnd RLpublic of Ireland (FRS 102) (effective l Janudry 2019),, Financidl RLportin¥ Standard 102 The Financial Reporting Standard dpplicablc in the UK and Republic of ITeland' and the C.'ompanies Act 2006. Thr fi[n¢la1 siatcmcnts havc bLLn prepared under the historical cost convLntion_ Companv and charitable status Wolverhampton Youih Zone, a public benefit entity, is incotpoiatcd in England and Wal¢s as a company limited by giiarantee not haN'jii(p share capitsl. There are cutrently N.'eli'e trustees i*ho are also members of the companj.. Each membci has undcrtakcn to contribute to the assets the event of windiiig up a sum 0t cxceeding £1 O. The charity is a registered charity. The registered oflice is gii'en on page l. llleome All iiicome is recognised in the statement of financial actii'ities Ni'hen Ibe charity has entitlement to the funds, any perfomiance LonditioIis attaLhLd to Ibe ilem(s) of income have been me¢ it is probable (hal the income 55ry11 be receivcd dnd Ihc amount can be measured Teliably= Incon]c from donations and leoacies Voluntary incoine Is Teccived by the way of donations and gifts and is included in full in tbe Statement of Financial Activities ivhen the chan.ty has entitlement lo the funds. aiij, perfornTrance conditions attached to thc ilem(s) of income have been met, it's probable that the illcome will be received and the avnounl can be measured reliably_ Donated serviccs. facilities: w,hich comprise donated Se,1¢eS. are included in income at a valuation wthich is an estimate of the tinancial cost borne by the donor ivhere such a cosl is quantifiable and measurable. Expenditure and allocAtion of eosts Lxpcndilure ts recognised oncc thcrc is a ILgal ur Constructi.e obligation lo make a lo a thtrd party. it LS probable that settleTncni will bc rcqliired and the amount of the obligation cali mLa5ured reliably. ExpLndilure is classilied under the follo.1g headingTS'. The charities operaLing costs include staff costs and other related costs. Such Losls are allocated between cost of raising funds and charimble expenditure. Staff costs are allocated according to the costs of staff ivorking dir¢cil in the relevant activit}-' and property costs are allocaled according to the %PaCL used by each activity. Costs of raising? fi£$ The costs a550Liaied ii'ith fundraising activitie.s and expenditurc inLurred during ndraising events. Charitable expenditurL Costs of actikities in the furtherance of the charity's objecis include all expeiidjre directly Iclalcd lo Ihc objects of the chanty. Support costs Support Losls are those tiinctions that assist ihc '0[k of the charity but do not dirccily undertake direct charitablc activilies. Support costs include back 01CL Costs. such as administration costs M'hich 5UPPOrt 'I'he Ivays pragrammcs and activities. Govcrnance costs include those incurred in the govetnancc of the charity and its assets and are primarilj assoLialcd with conqtitutional atEd statutorv Tequircmcnl8. Where costs arc not directly attributable to any activiry. they have been apportioned using an appropriate basis. Page 18 continucd...
WOI.VF.RHAMPTON YOUTH ZONE Tr*'Ot¢s to the Financial Statements - continued for the l'ear Ended 3 1 LlaTeb 21124 ACCOULYTIIYG POLICIES - continued Expenditure and allocation of costs Governmellt GraRts Cjovcrnmcnt grdnts rLlating to rLVL"niic arc rcLvgniscd on a SysicLiL basis uvcl the periodq In which thc cntity rccognised the related costs for whicb ihe grant is intended to compensate. Tangible fixed assets Depreciation is provided at the following annual iatcs in ordcr to WTitc off each assct over its cslimated use1 life. Long Icdsehold FIXC$ and fittings Straight linc ovcr 50 ycars 33.33'/0 UII Cost Taxation The charity is an exempt charity within the meanino of schedule 3 of thi Charitie5 Act 201 l and is considcred to pass thc tcsLs sct out in paragraph I Schcdulc 6 Finallcc Act 2010 dnd ihcicforc li meets thc dcfinition of a charitable company for UK COTpoialion tax purposcs. Fund accounting The charity maintains various types of funds as follows: Ui]reqtricted funds UnreytriLted funds are awailable to spend on activities that further any of the purposes of the charity. De.%ignatcd fid5 Designated fLU]ds are unrestricted funds of the charity which the TtU5tees hawe decidcd at theii discretion lo set asidL fc)i a spccific purpose. Restn¢ted funds Restricted tid5 are lunds "hICh haN'e been given for a particular purpose or project. Deblors Trade and other debiors are recognised ai ihe settlement amow)t due atter any trade discounts are offered. Prepayments are iyalued at the amount prepaid nel ot-any trade discounts duc. Crcditors Creditors and pioN'isAons arc recogmsed where ihe charil J has a preseni obligation resulting from a pa41 cvcnt that Thill probably result in the transfer of fund.s to a third party and the amouiil due to scttlc Ihc obligali(Trn can be measuicd or estimated reliabl).. Creditors and pro%'ision% are nornially recoginised ai thcir settlcmcnl iimount after all0.Ing for any trade discounts du¢. Financial instruments Th¢ charity only has financAal a35ets and liabilitit5 of a kind that quoltftcy basic fiiiancjal Jnstruments. B&sic financial instruments are insliallv recognised al transaction ijalue and subsequently measured at their settlement value. Operating leases Renlxls undcr uperaling leases are charged on a slraight-line basis over the lease lerni. eien if the payments are nor made on such basis. Benefits rLCil&'ed and receiable a5 an incentive tu sign up¢ruting lease are similarly Sprcdd on d sITaighi-line basis over the lease lerm. The charity leases the frcchold land from li-'olierhamplon City Council at a pepperLorn rent for 125 years. The fair valuc ot.the freehold peppercorn rent is not &alued due to the proliibitive costs of doing so. Page 19 continued...
WOLVERHAI¥IPTOY YOUTH ZONE otes to the FillanLial Statements - continued for the Year Ended 31 illarch 2024 ACCOUNTING POLICIES- continued Going concern The charity's aciivitics, logciber with the factors likely to affect its future dcvclopmenl, perfonnance and pusition arc set OLII in the Trustees, Annual Report, which also desLribes the financial position of thc Charity including its cash and reseTh'es policy. The Charity foreiasi and projectiotjs: takjnu aLLount uf reasonably possible change% in grants and donation income and other unccrtainhe5, show, that the cbarity Should be ablc to operatc with the CLLrrLni l¥vel of reseTres it has. ThL Trusiees hak'e a r¢asonablc cxpLctdliun that the Chdrity has adequatc rcsourccs to continue in operational cxistcncc for thc foresecablc fiiturc. thus they cotitinue to adopt thr going concern basis of accounting pTcparing the annual financial siatements. Employee beuefits - penslOIIS The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity lo the fund in respect of the year. DONATIONS AND LEGACIES 31.3.24 31.3.23 Dondtions Gilt aid Grants 185.363 10.368 872,670 278,129 20,(100 664.977 1,068.401 963,106 Out of the total inLome of £1.068,401 {2023. £963.106), £719,236 (2023: £836.269) was unrc5tricted and £349,165 (2023.. £126,837) iTras Testricted OTHER TRèiDIf*G ACTIVITIES 31.3.24 31.3.23 Room hire 6,156 INCO1 FRO1 CHARITABLE ACTIVITIES 31.3.24 31.3.23 Actii'ily Membership fees Se&sion feeg Catering income Rooni hire Operations of The Way Operations of The Way Operations of The Il'ay Operations of The Way 9.788 6.729 4U,205 76.4?8 4,174 5,257 20,094 91,319 131,150 Pag¢ 20 continued..
WOLVERHAMPTON YOUTH ZONE Notes to the Financial Statements - continued for the Year Ended 31 Lvlarch 2024 RAISING FLIDs Raising donations and Icgg¢ics 31.3.24 31.3.23 Siaff costs Support costs 70,381 4,741 48,447 2,6S4 75,122 51,131 Expenditure on Taising funds wa5 £75.122 (2023= £51.131) of which £75,122 (2023-. £51.131) was unrestricted dnd £Nil was restricied {2023.' £Nil). CIL4RtI'ABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Tol&ls All charitable activities I,Il9,8l5 200,511 1,320,326 Expciiditurc on charitable acliviiies was £1.320,326 (2023= £1,141.682) of which £1,031.270 (20?3= £951,519} .027= £190.163) reylnciid. was unrestricted and £289.05( (" SUPPORT COSTS Governance costs Managemenl Other Totals Raising donations and Icgyacies All charitable actikities 4,741 134.094 4.741 200,511 30.120 36,297 30,120 1.38.8.3) 36.297 205,252 CJovernance costs included in support cos(s above, include the cost of the annual audit of £18,000 (2023.. £14,700. Support costs are allocated to the one charitable actii""ity. thL opcraliun of The 14Tav. Support rosls are not allocated to trading activities nor lld raising acti.111¢S as these are incidenlal to its charitable acuN'ity. Pagc21 conlinued...
WOLvER%1FT0l YOUTEI ZONE rlotes to thc Financial Statemellts- continued for tbe Year Ended 31 March 2024 SUPPORT COSTS- continued Support costs, included in the aboi.-e, are as follows= 31.3.24 31.3.23 Raising donations charitable aCtIlI)eS Total acliii jiies Total activilics legacies Insurance Premises co%18 Licen%es Travel expenses IT Postage and stationery Sundries R<cruiÉment DBS checks Staff training Marketing CJovernanLe costs Bad dL"bis Bank charges Professional fees 30,120 ?3.869 2.971 1,141 30,120 31,073 25,460 1.629 ?1,789 2,684 5.680 8,318 64.426 3,382 7.657 127 14.700 820 1.337 64,993 2,971 1,141 4,741 10,638 1,318 4.741 10,638 1,318 86,128 1,749 3.862 2,418 18,000 .749 3,862 18.000 713 17.)84 713 17,584 4,741 ?00.511 205,252 254,075 IYET INCOMEI(EXPF.NDITURE} Nct in¢om¢i'(expenditure} is stated afieT chargin{CreditIng)'. 31.3.24 31.3.23 CJovetnance costs Deprcciaiion - owned asset5 18,000 122,140 14,700 127.C)47 TRUSTEES, REMUNEEL4TION AND BEJEFITS Thcre 'ere no Iruslees, remuneration or other benefits for the vear ended 31 N4arch 2024 nor for the year ended 31 March 2023. Trustees, expenses Th¢re were no ttee, cxpcnses paid for Ihe year ended 314larch 2024 nor for thc year ended 31 Mar¢li 2023. Pagc 22 continued...
WOI.ITF.RHAMPTON YOUTH 7.ONE -Yotcs to the Financial StateTDents - rolltillued for the Year Ended 31 larCh 2024 io. STAFF COSTS Staff Losts H'Lre as follows.. 31_3.24 W<11JCS ancl salciries Soicial security CDSts Uther PLnsion LO%1 745,544 4?,771 35,716 541,5()4 3? L)42 t£?4,031 600.25C) The average mollihly number of employees during the Jear 'aS as follows". 31.3.24 31.3.23 Raising ftmds Chariiabl¢ activities 58 39 60 40 The ke}. managenient pe150nncl of thc Chaiity are listed in the Trustee8 Report. The total remuneratioii (including pension contribiilions and including social security costs) of the key manaEement personnel of the Charity for the Vear totalled £66.722 (2023.. £63.318). ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrivrriES Unrestricted funds Reslricled fimd Total INCOME A'D ENDOWWEISTS FROM Donations and legacies 836,269 126,837 963,106 Chthritable actiTr'ities Membership fees Session fees Catering income Room hire 4.174 5.257 20,094 91,3l9 4.174 5,257 20.094 91,)19 Other trading activities Other incotne 9,193 1,868 9,193 1,868 Total 968.174 126,837 1,095,011 EXPENDITLRE OIY Raising ndS Charitable aclii'ities .411 charitable activities 951.519 190,163 1,141,682 Total 1.002.650 190,1()3 1,192,813 NET INCOTrfEI{EXPENDITL'RE) (34,47C?> [63,326} {97,802) Page 23 conlinued..
WOLVERHAIMPTON YOL'TH ZONE Iyotes ¢0 thc Financial Statements - contiDued for the Year Ended 31 L¥larch 2024 ii. COMPIilLITIVES FOR THE STATEIENT OF FLNLYCIAL ACTIVITIF.S. eontillued UnTLStrictcd Restricted funds fimd Total t-unds RF.C.ONCILtATION OF FUNDS Tvtal funds brought forward 4.816,297 85,891 4,902,188 TOTAL Tr UIYDS CARRIED Tr"ORII'ARD 4,781,821 4,804,386 12. TANGIBLE FIXED ASSETS fixtures and riltings Long le&schold COST At l April 2023 Additions 5.084,603 243,276 14.952 5,327,879 14,952 At 31 MarLh 2024 5.084,603 ?58,228 5.342.831 DF.PRF.CIATION Ai l April 20?3 Charge for yeaT 72?,525 101,C?92 218,205 20.448 940,730 122,140 Ai 31 March 2024 824,21 7 23S.653 I,062,870 ,NET BOOK VALUE At 31 March :024 4,260,386 19,575 4,279,961 At 31 March 2023 4,362,078 25,071 4,387,149 13. DEBTORS: AIIIOUNTS FALLLNG DLE 11:1TH1 ONE YEAR 31.3.24 31.3.23 Trade debtors Other debtors AcCCd incoTne Prepaynienls 78.427 26,805 2,222 20,000 5,316 11,500 8,201 103,976 54,343 All balances sholl above are due within one year. Pagc 24 continued...
WOI.TrF.RHAMPTON YOUTH 7.ONE Notes to the Financial Statements - continued for the Year Ended 31 fvlarch 2024 14. CREDITORS: AMOLINTS FALLI.YG DUE WITlllN ONE YEAR 31.3.?4 31.3.23 Trade creditors Social security. and othcT taxcs Other creditors Accrued expenses 46,015 11,364 30,328 7,835 1,953 29.887 96,456 157,094 70.003 DEFERRED INCOME 31.3.?4 31.3.23 Balance bi'oiioht fonvard .4tnounl ieleased lo illcome in Ihe year -llOit det.erred during the year Balancc caltd forward 78,323 Deferred income relates lo d0112tions Ihat hhve been receiNed in adN.-ance of the fInancial period ii,hich they relate io. in accordance with the terms of the donor. and grant income Ihat ha% been received in advance of the related funding objectives, in accordance 1th rhe iemis of the grani. Deferred income relating to room hire is a150 included. 15. .MOVEMENT IN FUNDS Translers bLlI.een funds moN'¢mcnl in fijiids At 31.3.24 Ai 1.4.23 Llnrestricted fund$ Unrestricted funds Desigmated iuniLs 419.743 4.362.078 (118.520) (12? 140) (40,0?4) 40.024 261,199 4,279,962 4.781.821 (240,660) 4,541,161 Restricted funds Restricted tunds 22.565 60,108 82.673 TO"fAL FUNDS 4.804.386 (180.552) 4,623.834 Pag¢ 25 continued...
WOLVERHAMPTON YOUTH ZOIYE -No¢es to the Financial Statements - contlDued for the Year Ettded 31 March 2024 15. MOVEMENT IN FUYDS- continued Nei movement in fvnds, included in tbc aboi.'c arc as follows.. Incoming rcsouTces RcsouTces expended mOeMent in ndS Lnrestricted funds LTnr¢8tricted tld5 Designaied funds 865,731 (984,251) (1?2,140) (118,520) (122,140) 865.731 (1,106,391) (240,660) Restrictcd funds Restricted funds 349,165 (289,057) 60,108 TOTAL FUINDS 1,214,896 (1,395.448) {180,552) Comparatives for movejllent in funds Net movemeiit in fidS At 31.3.23 At 1.4.22 L nrestricted funds Unteslriuted fid8 Designated tiulds 352.527 4.463,770 67.216 {101,692) 419,743 4,362,078 4.816,297 (34,476) 4,781,821 Restricted funds Restricted funds 85,891 {63,326} 22,565 TOTAL FLNDS 4,902.188 (97,802) 4,804.386 Comparative net rnol'ement in fijnds, InCILed in Ihe abofv'e arc as follows.. Incoming resources Resources expended Movenient funds Unrestricted funds Unreslricied funds Desilated funds 968.174 (900.958) (101.692) 67,216 (101,692) 968,174 {1,002,6iO) {34.476) Restricted fuDds Restricted 1]dS 126,837 (190,163) (63,-126) TOTAL FIPIDS 1,095.011 (1,192,813) {97.802) Paiwc 26 conliiiued...
WOLVERHANIPTON YOUTH ZOIYE Notes to the Finallcial Stateents - eolltinued for the Year Ended 31 LVlareb 2024 15. mOvEIENT IY FUNDS - continued ASdt April 2023 Asai31 March L¥IOI'EMETrIT ITr4 Tr LIDs L nrcstricted funds CienLral funds- all tunds Design(Itcd tiinds - biiilding project Income Expeiiditure TraTh8fers 419,743 4.367.078 865.731 {984.?51) (1?2,140) 140.024) 261,199 40,024 4.279.()6? 4,781,8"1 86i,7i I 11,IU6.-391) 4,541,161 Restricted funds PitLr Harrison FoLind<ilion - 'heelchair Baskerbdll Cyrdllthdm I'orkc Spvlls EqLiipment Lveson Trlisi Growiilg Furlires Keith Rae Trust Circ% Project LFC Uliimal¥ Fighiiiig Chan]pioiiship CLiliure of Health - Onside N<2tional Lottery Fiuiding - lenioriiig Wolvcrhcitnpton City Coiincil -.xlay Holiday Club N4dsonic TrLi%I EmotlOll<il Health & Vellbeing SiatT Recniitmenl Holidav Club various donors EnoN'erl Community l-rust - Kiiche]] Refijrb Graiiiham Yorke - Refuib Sensory-. Room Burbcry Inspire 2013 ?4 HAF IN'CL .'CC Autumn Halt Tertn Cyrant National Lottcry Fund - Winter Flw)ger Sports EnglarLd_ Fdniily CallistheDi¢S Ivcc rebniary #YES Grant 20?4 Onside Foundation - InipaLI Fund 2.468 1,797 10.000 800 2,468 (1,6jll I l 0.0001 (800) 800 800 7,500 7,200 11,627 (14.700) (11,627) 81.684 (50.5?8) 31,4?ti {7.9281 35.258 120.160) (3,115) 15,U98 11.515 (11,515) 3.100 17.500 35,7fy.i 8.919 3.100 (17.500) {3j,761) (8.919) 72.?()O (72.260) 1654) (10,1 i?) (12,091) 10,112 41.699 29.CI08 349.164 1789,0561 82.673 A.8atl .4pril As at.31 MarLh PRIOR YEAR L nrestriltvd funds CJencral tunds- all funds Designated 1]dS - building project Inconie F.xpenditure Transfers 2023 3*2.)?7 4.46.i.770 968.174 (90n.95IR (101.69? 419,743 4.3CI2,078 4.816.?97 968,174 { I.00?,fi50) 4,781,8?1 Page 27 conlinucd..
WOLTrERHAMPTON YOL TH ZA)L¥E -Yot¢s to the F"inancial Statement5 - eotttillued for the Year Ended 31 lare 2024 15. MOVETrIENT IN FLNDS _ eonlinued Restricted funds BBC Children in NLLd BBC: C'hildrLn in Nc¥d- Cost of Living Mcntc)riniv Ai&'ards for All Council H()lidJ)' Cliib Colincil - FIAI.. D'oyl}' Cart¢ Tnist N4usiclArts ProjcLt I'he Roger & Di)iiglas TLirner Chaiitdble Tnist eitli Rae Charltable Tnist GiniTnit Trust Addpts Holiday C lub C.'Iiinbing Bllrbew' Art% ProjL*I PLtcr ILarrisoii Foundaiioii CTroiindivork UK Teqco Youth EndtswnLnt Fillid Tetteithall RolaTh' Grantham YoikL Evesoti 1.rust - Cyroiying Futures Culture of health - OnSid¢ Onside l Lolida), I luiiger CTTaiil Keith Rae TIiL%t - C.ircLl% Piojeci 'rhL I,ouiball Foundatioii UFC - Illtiniatc Fighting Chanipionship 4.719 .5( 40.1100 jiOO) (69,474) 13,7iX) 14.S32) {J4,783) 4.F¢32 34,783 3.000 (3.0001 3.000 (3.000) (440) (2,OUII) (700) j5.OOU) 440 2.000 700 i.000 2,468 iOO 2,468 (500) (2.34)) (500) (1 ?03) 2,34) 500 3,000 10,000 17.276 1,797 i 0,000 117,276) (?9.0.34} 800 7.1 l9 800 (7 119> 7,500 7,500 85,891 126.837 {190.16)} 22.565 16. RELATED PAR TY DISCLOSURES Mr T Munro 18 an emplovee of Wolverl)ampton City. cOEclI which has provided funding of £268.189 (2023.. £216,988) io tl)e charity. dwing Ihc period. Ivolverhampton Liry Council have also hired rooms ai the Way costing £J4,970 (2023.- £42,39914ind used cafe facilities Costing £258 (?0?3-. £Nill. Mrs SA Butcher i.s an cmployee of WolvcrhamptoD Ilomes whicli has providcd fLJnding of £25,000 (2023.. £25.ono) lo Ilic chariiy during the period Ms A BenjaTllin is an employee of Onside Youth Zones ll."hich has proiiided fundii)g of £.378,908 (2023.. £312,107) to the cl)ariry during thc period and has uscd calé facilities costing £350 (2023.. £Nil). Mr J CiOU<F (rcsigned 18105120?3) is a director of William Gough Limited M'l)ich has providcd funding of £25,000 12Q2_3.. £?5.000) and small building repairs costing £4,275 (2023- £1,533) to ihe cbarity. during the period. Al thc ycar Lnd, £4,275 remain.s outstanding un Ihc purchasc l¢dg¢r. Ms L Bashford is an employee of Wolverhampton College which has provided fuiiding of £25,000 (2023- £25,0001 to tE]e charity during the period. Wolveihampion College have also hircd iuonLS al the Way costing £Nil (2023. £150). No individual trtee4 have provided funding lo ihe charity during the peiiod. Pagc 28 ontinucd...
WOL VERHAMPTON YOUTH ZOL%F. Notes to the Financi21 Statementg - continued for the Year Ended 31 Nlarch ?024 17. FINNCIAL INSTRUhqENTS The charity only has fmancial assets and liabilities of a kind that qualify as basic finallcial insrruments. Basic financial instruTncnt5 ale iniliallv recognised al Iransaciion value and subsequentl> measuTed c?t their settlcmcnt valuc. 18. FINANCIAL COMlWIITIETs There were no financial cotnmittncnts. ai the yeai-end {?0?3." £Nil). 19. GOING CONCERN Thc charity's activities, iogeiher with the factors likel%. to affect ILS future development, perfoTmance and position are sel out in the Trustees, Annual Report, M,hich also desciibc5 thc fiJidiicial position of the C harity Éncluding its casli and riscrvcs policy. Thc Charity forcLas1 and projeciions. tsking accounl of reasonably possible clianges ill grants and don<ltion income and other uncertainties. shoii. that the charit) should be dble to operatc "1th the current lei'el of reserves it has_ The Tnjstees have a re&sonable expectatioIi that the Charity has adequate resources to colltiniie in operational existence for the foreieeable ture, thus Ihey contiiiue to ddopt the going concern basis of accowiting in preparing the annual finaTEcial sldtctncnts. 20. TAK4TION The charity's activities potent&all5' exempt from taxation under Part I l of ihe c.orporation Tax Act 201 O. No tax charge has arisen in the period. Pauc 29
WOLVERHAMPTC)NI YOUTH ZONE Detailed Stalcment of Financial ActiTrities for the Year Ended 31 fvlaTch 2024 31.3_24 Total fund5 31.3.23 Unrestricted fid5 Res'tricted funds Totiil funds INCOIIIE AND EINDONTr'I.IENTS Donations and legacies Donations CJift aid Grants 18i.36_i 10,3614 5?3.505 185,363 10,368 872,670 278,129 20,OUO 664.977 349,165 719.?36 349,165 1,068,401 963,106 Other trading actiyilies Roorn hire 6,156 6,156 CharitAble artIeS Operations of The Way 133,150 133,150 120,844 Other income Bank Interest Received 7.189 7,189 1,868 Totaj incoming rcsource5 865.731 349.165 1.214,896 1,095,011 EXPENDITURE Raising douations and legacies Wages )d salaries consultcY 66.881 3,5UO 66,881 3,500 41,447 7,000 70.381 70,381 48,447 Charitable #ctii'ities Wdges and salarics Youth Project Delivery ExpcllsL Travel expensi& Premises costs 584,538 13.184 405 51.714 23,352 17?,612 20,721 266 43,762 3,516 31,177 757.150 33.905 671 95,476 26,868 5¥,605 25,000 101,69• 20.448 55S,808 22,971 790 101,840 15,206 38.029 25,000 101,692 25,955 Catering Onside Youth Zone Services Long leasehold Fixture.q and fittings 25.000 IVl,692 20.448 847,761 272.054 1,119,815 890,291 Support costs Ii)nJgement Insurance iO,120 30,120 31,073 This page does not forn] part of the statutory financial statem¢nts Pagtre 30
'OLN'ERHAMPTON YOUTH ZONE Detailcd Statement of FiDaHcial Activitie5 for the Year Ended 31 laTch 2024 31.3.24 Total funds 31.3.23 Total funds Lnrestricted nds Restricted fijnds Other Preinises costs Licenses Trai'el expenses 11,515 23,869 2,971 1,141 4,741 10.638 1,318 86.128 1.749 3,862 2,418 25,460 1,629 21,789 ?,684 5,6t40 8.318 64,426 3,382 7,657 127 2,971 IT 4,741 9,634 1,318 84.938 1,749 1.598 1.388 Postage and stationery Sundri¢s Recruitment DBS check5 Sidff training Marketing 1,004 .190 2.264 I,030 121.832 17.003 138,835 141,152 Goi'ernaDce costs Govemance costs Bad debts Bank cbarges Professional fees 18.000 18,000 14,700 820 1.337 64.993 713 17.584 713 17,584 36.297 36,297 81.850 Total resources expended 1,106.391 289,057 1.39i,448 1,192,813 et (expenditure)lincome (?40,660) 60.108 {18U,552) (97,802) This pagc docs not fotm part of tbc 4tatutOT)' financial statcmcnLS Page31