2024-04-30-accounts - Ymo Trust Ltd

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Young Minds Organisation Trust Ltd Trustees' Report and Accounts For the year ended 30 April 2024

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 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 2024

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 2024. 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

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.

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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.

Gift Aid Claim

The Charity made a Gift Aid Claim of donations received through its bank account for the first time. Previous Gift Aid claims have all been raised through Just Giving platform as and when campaigns took place. These monies were received by the Charity as per the guidelines of the Just Giving Platform

The Gift Aid claim covers the previous 4 years from 18 regular donors. The total donation amounted to £22,810

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 main strands of work.

Provision of booster classes for children of an education age at two sites in Greater Sylhet continue for 98 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 98 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.

The charity had 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

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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;

Continued 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) YMO continues its Family Sponsorship Programme that was started in 2022 to reach impoverished families through network links. This is now into its third 6

year and this in fact will continue into 2024-25.

The previous 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. The situation remains the same for these families with rising costs to contend with. Summary for these are as below:

Family 1

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. The mother passed away in Dec 2024 in this current financial period. She also supports her sister who is visually impaired. Nasima works as a domestic and her income is insignificant to her rising costs of dialysis and hospital costs for her husband whose health continues to progressively deteriorate.

Nasima is known to YMO through family and friends. Risk Assessment:

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 25,000 taka,

around £230 per month (based on current exchange rates) which will enable medical and basic food provisions for her and the extended family.

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 which: Rent: £50

Dialysis: £195 Medical Needs for mother were until her death: £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

The funding for Moneer Zaman will also continue into 2025 at the same rates in 2024. Moneer is 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 at £1290 for the calendar year based on his needs for the family. YMO has

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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

The Gambia

The building of boreholes in The Gambia following the success of the charity efforts in 2024 in the region. The Gambia was chosen as a result of the links with the Gambian community through this charity’s director Muhit Miah.

Through efforts with personnel in The Gambia to help organise the schedule of works and project manage the build of 18 bore holes. YMO commissioned local prominent figure Mr Mass Cham in the Region as Project Manager. The boreholes were completed to serve a large region within Banjul province that would support in excess of 2,000 people, the farming land and animals with water provision that previously did not exist.

Each borehole was completed with the same team of people one at a time costing approx between £2,200 to £ 2,500 per borehole.

There was also small amount raised during Ramadan to feed the needy which amounted to £500

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 In Bangladesh. All students under YMO Trust provisions from previous years remained in education and completed all the planned studies.

Continued support and development of the sponsorship of improvised families with funding support to pay for food and emergency provisions

Building of boreholes in The Gambia.

PLANS FOR FUTURE PERIODS

2024-2025 and onwards:

YMO Trust will continue support and work with the principal activities within Bangladesh but will in Dec 2024 cease to fund the education site in Gulapgonj. The main reason to stop and close this site is that the students that have received the ongoing support will be reaching the end of school age and leaving. In addition YMO

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no longer have access to local intelligence or support to try and identify new candidates for this more remote area.

Identify and set-up a new centre within Greater Sylhet in Bangladesh to help educate and feed approx 50 children as part of plans to expand reach in the region.
Potentially enter into one-off emergency campaigns, such as food parcels, on a caseby-case basis 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.
Expand our activities in The Gambia staying in the region of Banjul to help build accommodation and educational needs of orphans.
Build financial reserves for future financial years for our ongoing principle activities

FINANCIAL REVIEW

Financial performance and position

Total income for the year amounted to £79,206 (Donations for our regular courses amounted to £6,779 and monies raised through campaigns including Just giving was £66,927 with an additional £5,500 from sponsorship) and the total expenditure amounted to £73,330 The Charity incurred a net profit for the year of £5,877. 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 2023 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 £62,267, which was collected through the Just Giving platform, for transparency.

Of the £11,602 transferred to Bangladesh for the current period, all of the amount was unrestricted.

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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. 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.

This report was approved by the Board of Trustees on …………………………… and signed on their behalf by:

A Choudhury 26/Feb/2025 15:24:26 …………………………………………… (io ud Le

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 2024

I report on the accounts of the company for the year ended 30 April 2024, 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

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

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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 960 Capability Green Luton LU1 3PE Date: 25 February 2025

Young Minds Organisation Trust Ltd Statement of Financial Activities For the year ended 30 April 2024

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 £ 6,779 6,779 11,602 720 13,148 (5,543) 20,709 15,166	Restricted Funds £ 72,427 72,427 61,008 - 23,285 11,419 50,848 62,267	2024 £ 79,207 79,207 72,610 600 36,433 5,876 71,557 77,433	2023 £ 36,617
				36,617
				35,833 600
				36,433
				184 71,373
				71,557

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The notes on pages 14 to 15 form part of these accounts.

Young Minds Organisation Trust Ltd

Balance Sheet As At 30 April 2024

£ 80102	2024 £ 77,434 77,434	£ 74,705
80,102 2,668		74,705 3.148

	15,166 62,667

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

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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 26 February 2025 and signed on their behalf:

A Choudhury 26/Feb/2025 15:24:26 ________Abdulla Choudhury (Chair of Trustees) (ioud Le

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Young Minds Organisation Trust Ltd Notes to the Accounts For the year ended 30 April 2024

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

Donations Other projects 4 Khalifas Just Giving	Unrestricted £ 6,779 -	Restricted £ - 5,500 66,927	2024 £ 6,779 5,500 66,927	2023
				£ 7,837 2,265 10,000 16,155

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2. Cost of Charitable activities

2. Cost of Charitable activities
Cost directly allocated to activities: Events and Activities - Bangladesh Advertising and PR Fund Raising Costs Legal and Professional fees 3. Governance Cost Accountancy fee	Restricted	Unrestricted 11,707 - 48 Unrestricted	2024 £ 72,562 - 48	2023
	60,855 -			£ 35,285 500 - 48
			72,610	35,833
			2024 £ 720 600	2023
				£ 600
				600

4. Creditors: amounts falling due within one year Accruals Qarde Hasana	519 2,149 2,668	999 2,149
		3,148

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