**Young Minds Organisation Trust Ltd Trustees' Report and Accounts For the year ended 30 April 2022**
**Company No: 08494953 Charity Number: 1155032**
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## **Young Minds Organisation Trust Ltd**
## **Trustees' Report and Accounts**
|**Contents**|**Page**|
|---|---|
|Officers and Financial Advisors|3|
|Trustees' Report|4 - 10|
|Independent Examiners Report|11|
|Statement of Financial Activities|12|
|Balance sheet|13|
|Notes to the accounts|14 - 15|
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## **Young Minds Organisation Trust Ltd**
## **Officers and Financial Advisors**
|Trustees|Abdulla Choudhury (Chairman)|
|---|---|
||Abdul Hamid|
||Muhammed Muhit Miah|
||Kerry Mannan|
||Uthaman Provencal|
||Shazal Islam|
||Foiz Ahmed|
||Tera Miah|
|Charity No.|1155032|
|Registered Office|64 St Margarets Avenue|
||Luton|
||England|
||LU3 1PQ|
|Accountants|MMK|
||960 Capability Green|
||Luton|
||LU1 3PE|
|Bankers|Barclays Bank Plc|
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## **TRUSTEES' ANNUAL REPORT**
## **For the year ended 30[th] April 2022**
The directors, who are the Trustees of the charitable company for the purposes of charity law, present their annual report and financial statements of YMO Trust for the year ended 30th April 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable company's governing document, the Companies Act 2006, and charities regulations. Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2015), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (FRS102).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
YMO Trust is a company limited by guarantee, registered with Companies House on 18[th] April 2013, and registered as a charity with the Charity Commission in England and Wales on 5[th] Dec 2013. The Charity is governed by its Memorandum and Articles of Association as amended by special resolution registered at Companies House on 5[th] Dec 2013.
## **Recruitment and Appointment of Trustees**
When it is necessary to appoint new Trustees, due to either a Trustee stepping down or a gap of expertise in the board is identified, recruitment will initially begin by an open call and through the networks of the Board and management team. Applicants will be reviewed by the Trustees and successful applicants will be invited to attend a Trustee meeting. Following this, on the provision that the Board are satisfied and the applicant still wishes to join the Trustee Board, they will be appointed.
No other person or external body is entitled to appoint any Trustees of the charity. There were no changes to the listed Trustees in the period.
## **Induction and training of Trustees**
The charity provides new Trustees with an induction with the existing Trustees. No new Trustees have been appointed in the time period.
## **Trustees**
The directors of the company are its Trustees for the purpose of the Charity Law and are referred to collectively as Trustees in this report.
The Trustees serving during the year and since the year-end were as follows:
Muhammed Muhit Miah Abdul Hamid Kerry Mannan Abdulla Choudhury Foiz Ahmed Uthaman Provencal
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Shazal Islam Tera Miah
## **Related party relationships**
The Charity has considered the disclosure requirements of the SORP for related party relationships, and believes that there are no related party relationships other than the Trustees and their close connections. All related party transactions have been reported in the Notes to the financial statements.
## **Risk management**
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Remuneration of key management personnel**
All Trustees provide their services on a voluntary basis.
## **Purposes and aims**
1.TO ADVANCE EDUCATION AND WORK SKILLS FOR THE PUBLIC BENEFIT IN PARTICULAR BUT NOT EXCLUSIVELY OF YOUNG PEOPLE IN BANGLADESH. 2.THE PREVENTION OR RELIEF OF POVERTY FOR THE PUBLIC BENEFIT IN PARTICULAR BUT NOT EXCLUSIVELY OF YOUNG PEOPLE IN BANGLADESH.
3.TO PROVIDE OR ASSIST IN THE PROVISION OF FACILITIES IN THE INTERESTS OF SOCIAL WELFARE FOR RECREATION OR OTHER LEISURE TIME OCCUPATION OF INDIVIDUALS WHO HAVE NEED OF SUCH FACILITIES BY REASON OF THEIR YOUTH, AGE INFIRMITY OR DISABILITY, FINANCIAL HARDSHIP OR SOCIAL CIRCUMSTANCES WITH THE OBJECT OF IMPROVING THEIR CONDITIONS OF LIFE.
## **Principal activities of the charity**
YMO Trust Ltd continued its current three main strands of work (Bearing in mind that Education in Bangladesh has class sizes that are often in excess of 100 children, and extra private teaching is the only way to get ahead and normally, only afforded by those not living in poverty):
1. Provision of booster classes for children of an education age at two sites in Greater Sylhet continue for 95 children. The booster classes are additional early morning and evening classes for these children, to supplement their normal government schooling. The two locations are in the areas known as Jagannathpur and Gulapganj. The 95 children were originally selected from local government school registers by our admin staff employed in Bangladesh, following a predetermined criteria of poverty set-up by the Trustees. The government school registers would have shown that these children were either not able to pay for basic books and fees, as required in Bangladesh, even though these fees are small nominal amounts. Inevitably these children were/would have dropped out of school, due to living in poverty. The children and their families were identified by our admin staff in previous years and would have been interviewed to assess meeting our guidelines of poverty, and thus would have qualified for charitable support.
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The charity has set up at the two locations, facilities from where day to day extra activities of teaching and training are delivered. There is provision for teaching subjects such as English, Maths and IT, with a functional IT classroom set-up. The charity employs 5 teachers and 2 support/admin staff across these two locations. The two sites were selected for their known network connections with the Trustees here in the UK, and have the unmet need to help advance the education and welfare described in the principle activities as above;
2. Provision for vocational training for young people in these two locations, to train and upskill people to help support local industry and provide a potential source of income for our recipients. Currently we have provided training in sewing skills and motor engineering. These vocational courses were determined from evaluation by local intelligence, gathered by our admin staff, and the courses are of a fixed duration for a selected number of people;
3. Collaboration with an established orphanage in Sylhet, to leverage a greater access to children to help support education. The children from the orphanage attend the Sylhet Inclusive School and College (SISC), itself a local charitable organisation, funded privately, with its own set of governance, staff and operating policies.
- YMO’s collaboration started with funding for two additional teachers, to complement SISC's existing pool of 10 teachers, to help provide daily education for 500+ children. YMO then quickly established the funding for the provision of a nutritional lunchtime meal for all the 500+ children. These children would otherwise either not receive a lunchtime meal or would have only some basic provisions of water and a biscuit, with very little nutritional value.
SISC was selected through a network of people linked back to the Trustees. Two Trustees Abdulla Choudhury and Foiz Ahmed have visited SISC, in 2018 and 2019 respectively, during their family trips to Bangladesh, to scope out the opportunity. It was obvious that a partnership to pool resources would help the two organisations in their ambitions to provide for its children.
4) YMO also entered into the Family Sponsorship Programme to experiment the viability and sustainability of such a project to evaluate and expand reach into impoverished families through network links.
Two families known to the Trustees through local networks and links were quickly identified as test grounds for this type of sponsorship and Trustees Abdulla and Muhit came forward to sponsor these families.
Family 1
- i.Nasima Khatoum is a woman in her 60s living in the greater Sylhet district within a cheap housing estate. Her husband is now in his 70s and in need of kidney dialysis. She also lives with her older sister and elderly mother. She also supports her sister as she is visually impaired. Nasima works as a domestic help which barely gets her through the week and with mounting medical demands for both her husband and mother makes her a prime candidate for sponsorship support. Nasima has an older daughter but she has her own family and can on occasions support financially but this is no way significant nor consistent.
- ii. Nasima is known to YMO through family and friends. Risk Assessment:
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Nasima’s is an identified case to receive sponsorship from a UK donor(s). Nasima’s monthly needs financially have been worked out and assessed at around 23,000 taka, , , around £230 per month which will enable medical and basic food provisions for her and the extended family. This is equivalent to approximately £230 per month. This assessment has been worked out using local expertise and direct contact with the family and the sponsor to ascertain the costs highlighted below.
The breakdown of costs UK equivalent per month are as follows:
Rent: £25 Dialysis: £150 Medical Needs for mother: £25 Food Provisions: £30
Funding was initiated and will continue for an indefinite time until either individual or YMO deem it no longer necessary
## Family 2:
Moneer Zaman is a man aged 36 married with two children and is a guardian of his family and an extended family of approx 10 individuals. They all live in close proximity dwellings and are currently struggling to make ends meet after the death of their father, an income earner. The needs of this family include basic subsistence, medical and educational needs. A planned sponsorship amount was evaluated for him and estimated to be at £1000 for the calendar year based on his needs for the family. YMO has thus made one transfer for this amount to Bangladesh for this payment to be made to Moneer Zaman to help him manage his costs for the year. Future funding for this individual will continue indefinitely and will continue for an indefinite time until either individual or YMO deem it no longer necessary
## **ACHIEVEMENTS AND PERFORMANCE: REVIEW OF ACTIVITIES FOR THE YEAR**
## **Public benefit**
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
The year focused on:
- Continued delivery of a high quality education at the two independent sites run by YMO Trust Ltd at Jagannathpur and Gulapganj.
- Continued funding of lunchtime food supply/provision at SISC, as well as the funding for the two additional teachers to help accelerate the teaching at SISC.
- Develop a Programme to further advertise and develop the sponsorship of improvised families with funding support to pay for food and emergency provisions
- Planned fundraising event(s), to continue long term sustainability for the charity and embarking on emergency relief during Covid-19 depending on need or support another Bangladesh initiative that helps prevent or alleviate poverty to young people
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## **Overview:**
- The collaboration with SISC launched in February 2019, with YMO Trust Ltd, continued to provide financial assistance for the additional two teachers.that would allow a more sustainable teacher to student ratio at SISC.
- The two teachers were recruited and employed by SISC, under their governance and legally employed by the SISC. YMO Trust Ltd, therefore has no control or day to day arrangements with these two teachers and the teachers are paid directly from SISC.
- Lunchtime meals were established in April 2019 and continued only when schools opened during the pandemic. Local food and restaurant, Fiza & Co, continue to be the supplier. Settlement of financial costs with the supplier was directly paid by YMO Trust.
_**However this arrangement with SISC will change in 2022-23 due to local government involvement, which ultimately mean that SISC do not require the anticipated financial support going forward. YMO plans to divert and use the remaining funds appropriately into a similar project within the same district of Sylhet with another orphanage, which is currently being researched and evaluated for their needs**_
- All students under YMO Trust provisions from previous years remained in education and completed all the planned studies.
## **Funding raised in financial year ending 31st March 2023:**
- **To Continue to deliver the planned programmes for educational support, Flood Relief for Bangladesh and first project into Gambia**
## **PROGRAMME OF ACTIVITY:**
## **PLANS FOR FUTURE PERIODS**
2022-2023 and onwards:
- YMO Trust will continue support and work with 2 of the 3 principal activities within Bangladesh, with note that discloses the intended termination of partnership with SISC in Bangladesh
- Continue to develop the programme to look at how we may identify and support poverty-stricken families to provide direct financial assistance to these families, on a monthly basis. Advertising would be done through word of mouth.
- As effect of the Pandemic goes deeper the aim look to enter into one-off emergency campaigns, such as food parcels, on a case-by-case basis would still be offered through the Just Giving Platform, for Bangladesh and or other developing countries where YMO Trust have trusted networks via its Trustees and YMO community
- As we are low on manpower here in the UK, since all YMO representatives and Trustees involved, are on a voluntary basis, we plan not to expand further new activities and initiatives, beyond our administrative capacity to deliver these in Bangladesh.
- Build financial reserves for future financial years for our ongoing principle activities
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## **FINANCIAL REVIEW**
## **Financial performance and position**
Total income for the year amounted to £44,549 (Donations for our regular courses amounted to £13,232 and monies raised through campaigns via Just giving was £31,317) and the total expenditure amounted to £27,796.
The Charity incurred a net profit for the year of £16,753. Details of charity’s financial results are shown in the Statement of Financial Activities.
## **Going Concern**
The Trustees have considered the Charity's reserves and projected income and expenditure, and have the expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **Reserves Policy**
The charity currently has a 3 year reserve. In the Trustees’ view, the reserves should provide the charity with adequate financial stability to meet the working capital requirements of the charitable work and the Trustees are confident that at this level they would be able to continue the current activities of the charity with a view of securing further future funds in 2021 for its principal activities.
The Trustees review the amount of reserves that are required to ensure that they are adequate to fulfil the charity’s continuing obligations on a yearly basis at their finance meeting. At the year end, the restricted funds balance was £45,353, which was collected through the Just Giving platform, for transparency.
Of the £19,000 transferred to Bangladesh for the current period, all of the amount was unrestricted.
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
Company and Charity Law requires the Trustees to prepare financial statements that give true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgments and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Follow the methods and principles of the Charity SORP; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the group will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
## **PREPARATION OF THE REPORT**
In preparing this report, the Board of Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
3rd March 2023 This report was approved by the Board of Trustees on …………………………… and signed on their behalf by:
……………………………………………
Trustee Abdulla Choudhury
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## **Independent examiner’s report to the trustees of Young Minds Organisation Trust Ltd For the year ended 30 April 2022**
I report on the accounts of the company for the year ended 30 April 2022, which are set out on pages 12 to 15.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention apart from the above
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Misbahul Karim FCCA
MMK Chartered Certified Accountants 15 George Street West Luton LU1 2BJ Date: 03 March 2023
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## **Young Minds Organisation Trust Ltd Statement of Financial Activities For the year ended 30 April 2022**
|**Notes**
**Incoming Resources**
Grants & Donations
1
Total Incoming Resources
**Resources Expended**
Charitable activities
2
Governance cost
3
Total Resources Expended
Net incoming/ (outgoing
resources)
**Reconciliation of Funds:**
Total funds, brought forward
Total funds, carried forward|**Unrestricted**
**Funds**
£
13,232
13,232
19,295
600
19,895
(6,663)
32,683
26,020|**Restricted**
**Funds**
£
31,317
31,317
7,901
-
7,901
23,416
21,937
45,353|**2022**
£
44,549
44,549
21,196
600
27,796
16,753
54,620
71,373|**2021**
£
27,993|
|---|---|---|---|---|
|||||27,993|
|||||26,793
600|
|||||27,393|
|||||600
54,020|
|||||54,620|
The notes on pages 14 to 15 form part of these accounts.
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## **Young Minds Organisation Trust Ltd**
## **Balance Sheet As At 30 April 2022**
**----- Start of picture text -----**
Notes 2022 2021
£ £ £ £
Current Assets
Cash in hand and at Bank 73,908 57,155
73,908 57,155
Creditors
Amounts falling due within one
year 4 2,535 2,535
Net Current Assets 71,373 54,620
71,373 54,620
The Funds of the Charity
Restricted funds 26,020 21,937
Unrestricted funds 45,353 32,683
**----- End of picture text -----**
The Trustees (Directors) acknowledge their responsibilities for:
**a)** ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
**b)** preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 which otherwise comply with the requirements of Companies Act 2006 relating to financial statements, so far as applicable to the company.
Approved by the board of Trustees on 03 March 2023 and signed on their behalf:
__________________________Abdulla Choudhury (Chair of Trustees)
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**Young Minds Organisation Trust Ltd Notes to the Accounts For the year ended 30 April 2022**
## **1. Accounting Policies**
## **1.1 Basis of Accounting**
The financial statements have been prepared under the historical cost convention and in accordance with the applicable Accounting Standards , the Statement of Recommended Practice “Accounting and Reporting by Charities” published in March 2005 . The principal accounting policies adopted in the preparation of the financial statements are set out below.
## **1.2 Incoming Resources**
Voluntary income and donations are included in incoming resources when they are receivable, except when the donors specify that they must be used in future accounting periods or donors’ conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.
## **1.3 Resources Expended**
Resources expended are included in the Statement of Financial Activities on accruals basis, inclusive of any VAT that cannot be recovered.
Expenditure that is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of those resources.
## **1.4 Going Concern Basis**
The financial statements have been prepared on the going concern basis, as in the opinion of the director and trustees, there are no issues arising which would suggest any other basis as being more appropriate.
## **1. Grants and Donations**
|**1. Grants and Donations**|||||
|---|---|---|---|---|
|Donations
Just Giving|**Unrestricted**
£
13,232
-|**Restricted**
£
-
31,317|**2022**
£
13,232
31,317|**2021**|
|||||£
10,905
17,088|
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## **2. Cost of Charitable activities**
|**Restricted**
Cost directly allocated to activities:
Events and Activities - Bangladesh
-
Fund Raising Costs
7,901
Legal and Professional fees
**3. Governance Cost**
Accountancy fee
**4. Creditors: amounts falling due within one year**
Accruals
Qarde Hasana|**Restricted**|**Unrestricted**
19,000
-
295
**Unrestricted**
|**2022**
£
19,000
7,901
295|**2021**|
|---|---|---|---|---|
|||||£
26,232
562|
||||27,196|26,794|
||||**2022**
£
600
600
386
2,149
2,535|**2021**|
|||||£
600|
|||||600|
|||||386
2,149
2,535|
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