11 fji Yes Futures Annual Report 2023 -The Rising Futures prograrnme has had a significant impact in improving the confidence. resilience. self-awareness and communication skills for those young people that graduated. as well as making a difference to their school attendance and academic progress over time." Teacher. Passmores Academy "I feel that [my son] has become more motivated to perform at a higher level in school. He is more determined and resilient.. Parent Finding Futures Partner Schools TILbury ioneer Albion Academy pRi￿14￿V SCHOOL Rising Futures Partner Schools Ratton LANGLEY .•llAfADEhfjY DITTON PARK r. CHARTERS HAMPIDN HIGH TheBeacon Sckn KES Contents Foreword About Yes Futures 10 Years of Yes Futures 10 Our Impact 12 What we've Learnt & Areas for Improvement 13 A Spotlight on Hounslow: An Innovative Partnership 15 Thank You To Our Supporters 16 Thank You To Our Coaches 18 Next steps 19 Financial Review 20 Reference and Administrative Details 22 statement of Trustees. Responsibilities Yes Futures | Annual Report 2023 Foreword I'd like to tell you about Joe. Wl)en we first met Joe lie was vei"y nei"vous. worried about peer opinions and didn't have the confidence to answer or ask questions out loud. He wanted to focus on becoming more confident and resilient with his Coach, and by the end of the programme he had seen marked improvements in all four Talent areas- confidence, resilience. communication and self-awareness. He was more emotionally mature. confident in sharing his opinions. and able to ignore negative influences from peers. In his own words. he is now'ready to take on anythingl" "Rising Futures has given me new opportunities to make the most out of what I want for my future. It has a150 helped me to achieve more goals [and] feel more confident aboutthe new things I try." Joe, Rising Futures student Joe is just one of the 616 young people who joined our programmes last year - our highe%t number to date. A5 well as the incredible impact we've had on our young people. other 2023 highlights include: Welcoming eight new school partners to our network., Being recognised in the Natwest SE700 - Top 100 Social Enterprises in the UK for the third year: Developing our innovative partnership with the London Borough of Hounslow: supporting eight cohorts of young people across six Hounslow schools: strengthening our partnerships with our existing corporate supporters and beginning to work with new ones; Introducing innovative ways of reaching our target audience to tell them about what we do through the use of more sophisticated customer relationship management tools: Achieving our highest turnover to date and achieving a small surplus. which supports us in the important tssk of building our reserves.. Developing our three-year and long-term strategy plans. For me. the biggest milestone of the year was in December. when we celebrated Yes Futures. 10th Anniversary of becoming a registered charity. 10 years ago we were a tiny volunteer-run organisation, about to embark on our first pilot programme. for 10 young people in a school in Feltham, In that first year. we proved our impact model. gained further funding and employed our first member of staff. l am immeasurably proud of the progress we have made since then Isee more detail on page 51) - expanding beynnd Lnndnn. developing a primary school programme, withstanding the challenges of a pandemic and emerging even stronger. We have now supported over 3.000 young people to believe in themselves and discovertheir personal potential. Yes Futures | Annual Report 2023 And none of this would have happened without the dedication, belief and hard work of our community. past and present: THANK YOU to all my incredible colleagu•s, our knowledgeable trustees. our generous funders. our inspirational partners and our passionate volunteers who have been part of this remarkable 10-yearjourney. I hope to celebrate with you at our 10th Anniversary event this summer. as we launch our plans for scaling and deepening our impact even further in the next 10 years. lol Sarah Sewell. Chief Executive It has been another exciting year for Yes Futures. and I continue to be extremely proud of the impact we have on the young people we serve. 2023 continued to be a difficult year for many organisations across all sectors. But Yes Futures weathered the economic storms well. in part due to the operational and cost reduction eff iciencies we introduced at the start of the year. We continue to make decisions which put ourselves on the best footing to remain a resilient organisation. giving ourselves the best chance to support even more young people in the years ahead. The challenges facing young people. especially since the pandemic. are complex and multifaceted. Almost every other week a new research report is published orthe results of a government consultation are released. which suggests that the mental health. wellbeing and resilience of our younger generation continue to take a turn for the worse. That's where the work of Yes Futures becomes ever more important. In 2023 we positively influenced the lives of more young people than ever before- and we continue to set our ambition- higher than this. Recently we have developed the initial stages of our new long- term strategy. which we plan to publish in summer 2024. For several trustees. 2023 was their final year at Yes Futures and I'd like to thank them very much for their unwavering and enthusiastic support given across the years. As one door closes another opens. and I'rn delighted to announce that three new trustees joined Yes Futures at the end of 2023. bringing additional skills to our organisation as we look to complete our new strategy and then deliver it. I look forward to working closely with everyone across the coming year. Looking forward, I'm very optimistic about the future and the important role Yes Futures has to play in empowering as many young people as possible to thrive. Thank you for your ongoing support. and. with Sarah. I look forward to updating you on our progress across the coming year. Andrew Thraves. Chair of Trustees Yes Futures | Annual Report 2023 About Yes Futures Positive futures begin with self-belief. We empower young people to make ambitious choices and reali5e their potential through developing their confidence. resilience. self-awareness and communication skills. leading to success both in and out of the classroom. Yes Futures Is a multi-award winning charity, established in 2012 (and becoming a registered charity in December 2013). Our successful Finding Futures programme (for students aged 9- 11 in primary schools) and Rising Futures programme (for students aged 11-16 in secondary schools) have made a proven difference to the lives of over 3,000 young people and we are steadily growing to more schools each year. These programmes are unique. high-impact and equip young people with the confidence and skills needed for further education. training and employment. We provide this targeted support to the most disadvantaged students in our partner schools. These students are selected by their teachers and are predominantly students on Free School Meals. Looked after Children. those with Special Educational Needs and those for whom English is an additional Language. Most of the students we work with are eligible for Pupil Premium government funding which is provided to schools to spend on interventions for these students. -students that [originally] found talkin aboutthelrown achievements and goals difficult. seem to have reflected on the coaching. giving them a new confidence and self esteem. Giving students tho opportunityto engage with the Coaches and attend visits outside of school was a fantastic experience. Working with the Yes Futures team was very supportive and professional. Thank you all and I lookfonvard to working with you again!- Teacher, Cardinal Newman Launching our newly-improved programmes From March 2023. we launched an improved version of our programrnes. in response to the cost-of-living crisis and the increasing need young people have for the support we offer. We committed to not raising our prices in 2023 to support schools struggling with financial challenges, and instead looked for efficiencies within our programme design. reducing unpredictable costs alongside focusing delivery on where our data shows we have most impact. Our new programme design added an extra coaching session for every student. condensed the Into the Wild residential and Play Your Part day into a more inclusive. one-day format. and refreshed the World of Work trip to support schools, careers provision. Yes Futures | Annual Report 2023 In 2023. our programmes used the following steps to build self-belief in young people. over a period of 12 months.. Personalised Coaching.. Dedicated Yes Futures Coaches supported students. coaching them either individually or in small groups to develop confidence. resilience. communication and self- awareness, through a structured personal development framework. Into the Wild= Our outdoor education experience provides a more challenging environment to students to face their fears and build relationships with other students, becoming more confident in their own abilities. World of Work= Young people visited an inspirational workplace and networked with professionals. This raised students. aspirations for their future. improved their knowledge of working life and developed key employability skills. IT Self-coaching: A key aim of our programmes is to embed life-long personal development within each young person. The Self-coaching workbook supports students to begin this journey. through taking responsibility for setting and reviewing their own goals. After five months of self-coaching. students attend a Forward to the Future session. which helps them reflect on the progress they ve made and set new goals. Yes Futures | Annual Report 2023 10 Years of Yes Futures 610 students- our highest yeti Achieved our highest turnover yet Reviewed and adapted our programme model to be more impactful and more scalable Natwest SE100: Top 100 Social Enterprises in the UK- Natwest and Pioneers Post 2023 608 students Grew to 12 employees Recruited and trained over 100 volunteer Coaches Launched our new branding Established strategic partnership with LBH Reached over £500.000 turnover Natwest SE100- Top 100 Sociol Enterprises in the UK- Natwest and Pioneers Post 2022 455 students- back on track after the pandemic Expanded our leadership team Expanded ourtrustee board 202 Pandemic reduced our impact to 166 students BUT we supported home learning through launching My Strengths Toolbox. and a bank of free online resources for young people, parents and teachers. Launch of the Strengths System (funded by the FEA Intrapreneurship Awardj Natwest SE100: Top 100 Social Enterprises in the UK- Natwest 2020 2019 542 students Recruited and trained over 50 volunteer Coaches Grew to 9 employees Celebrated the success of our first 5 Year Strategy with our FIVE/FIVE event Escape 100: Top 100 Companies to Escope To - Escape The City Movement for GoodAward- Ecclesiastical Giving Yes Futures | Annual Report 2023 455 students (over 30 cohorts) Expanded Finding Futures beyond London- to Essex. Kent and Berkshlre Employed our first full-time Programme Managers Completed Barclays Scale Up Progromme through University of Cambridge Business School cohortsl 2018 230 students Expanded Finding Futures to 3 primary schools in London Sarah. our CEO. become an inaugural member of the WISE100: Top 700 Women in Social Enterprise 2017 TOPIOO 148 students Ran a pilot Finding Futures programme in our first primary partner school Grew to 3 employees Expanded Rising Futures beyond London: to Eastbourne and High Wycombe 02 Think Big Digital Awards: Youth PartnerAw(7rd 016 Expanded Rising Futures to four secondary schools in London Winner of the Evidence Competition. Project Oracle Children and Youth Evidence Hub Winner of The Shackleton Award 2015 Ran our first pilot of the Rising Futures programme at Reach Academy. Feltham Employed our first member of staff Launch our first'5 Year Strategy. Reach Arademy 2014 Peltham 19th December- received charity status 2013 Our Impact of all students improved in at least one Yes Futures Talent area Our impact reporting. by nature. is looking back on cohorts that have completed the programme. For this reason, our 2023 impact data is taken from students who completed the programme in 2023 - this includes students who started (and completed) our September 2022 and March 2023 programmes. 617 students participated in our September 2022 and March 2023 programmes. 33 of these students [from three schools) participated in the Finding Futures programme. 214 volunteer coaches contributed over 5000 hours of their time to the programme (plus training). 417 students completed their Talent Toolbox (a response rate of 68%) and 423 students completed our end of programme questionnaire (a response rate of 69%). 92% of all students improved in at least one Talentarea The Yes Futures Talents are: Confidence, Resilience, Communication and Self-Awareness. They form the heart of our coaching programme and are the key outcomes we measure. The following shows what proportion of students reported an increase in each of the Talent areas (most students chooseto focus on one or two Talents throughout the programme): o%* "Our students were more confident to interact in lessons and offer suggestions. They seemed more motivated to achieve.- ave increased their confidence en ave increased their communication Teacher. Albion Primary School of sludents liave increased their resilience of students have increased their self-awareness 10 Yes Futures | Annual Report 2023 As reported in their end of programme questionnaire: 77% of students feel the Rising Futures programme has made a positive difference to them 78% of students feel more prepared for the future 72% of students feel more motivated to achieve at SGhool 81% of students feel they have skills which are valuable to other people 78% of students have a better idea about future opportunities available to them -some students have really developed in terms of public speaking and getting involved in the extra-curricular life of school. Others have been better at recognising the impact of their choices and been more engaged in class." Tcachcr. John F Kennedy Catholic College This year we also collected data on students. gender. SEND status and whetherthey were in receipt of Pupil Premium funding. Our analysis of this data showed.. There was no difference between the proportion of girls or boys impacted by the programme (improving in at least one Talent area). Interestingly the only signif icant difference across the Talent areas. between boys and girls was in relation to confiden¢e: 75% of girls reported an increase in confidence compared to 66% of boys. There was also no significant diffèroneè botwoon how glrls and boys experienced the programme. The only minor difference was a slightly greater proportion of girls (72%) found the programme motivated them more at school compared to boys (67%). And a slightly greater proportion of girls (76%) had a better idea about future opportunities as result of the programme compared to boys (70%). A greater proportion of students with Pupil Premium funding reported improving their confidence as a result of the programme (76%) compared to students without Pupil Premium funding (66%). Interestingly. a higher proportion of SEND students reported an increase in their resilience (72%) and confidence (70%) than their non-SEND peers. as a result of the programme. Yes Futures | Annual Report 2023 11 What We've Learnt & Areas for Improvement The adjustments we made to our programmc modcl in 2023" have becn implemented very successfully. We've seen more students able to attend all aspects of the programme and therefore more students directly benef itting, with increased impact overall (compared to previous years). "As describèd on poge O. the chtsngps included odding one extru coaching session and consolidating th8 Into the Wild residèntitsl ond Ploy your Port day into o one-day Into the Wild trip. In 2024 we are working to strengthen our impact measurement even further. We would like Increase the response rates to our Talent Scorecard and end of programme questionnaire to 75%. Have more students participate from primary schools. This has increased again in our September 2023 prograrnme and we hope to continue this trend by reaching out to more primary schools in 2024. Continue to demonstrate the wider impact of our programmes on young people, sharing some more of the data we collect on students and cohorts as a whole. Develop more written and video case studies of our students so we can share more of their journeys and the impact the programmes have on them. ¥rp A spotlight on Hounslow: An innovative partnership In the 2022-23 acaclemlc year. Yes Futures and tne Lonoon Borough of Hounslow (LBH) collaborated to deliver the Rising Futures programmeto 35 students in two schools (Gunnersbury School and The Heathland School). Together LBH and Yes Futures trained 14 LBH employees as Yes Futures Coaches who delivered 160 hours of intensive coaching support: facilitated two World of Work trips to the local government headquarters. Hounslow House-. arranged two Play your Part days at Bedford Lakes Country Park and led two outdoor education residential weekends. London Borough of Hounslow 71% of students completed the talent scorecard and 80% completed the end of programme questionnaire. of students improved in at one talent area 52/0 68°A 72% 76/0 of students have increased tlieir confid•nea of students have Increased thelr resilience of students have iiIGreased tlieir Communication of students have increased their self-awareness -yeah. I really like [coaching sessions]. They teach me loads of things about myself. I like it when someone talks to me one-on-one. for example, if I'm feeling really sad. it helps me remember the positive stuff and not the negative stuff." Rising Futures Student. The Gunnersbury School The results of the partnership between the London Borough of Hounslow and Yes Futures demonstrate the significant, positive impact of connecting young people from Hounslow who are in need of support and guidance. with inspirational representstives of the council. The Rising Futures programme delivered positive and fulfilling experiences for young people and Hounslow employees alike and in doing so established strong and meaningful connections between the community and local authority, contributing to the Borough's priority ambition of delivering a 'Thriving Hounslow.. In September 2023, we continued the partnership for a further eight schools and 150 students (split across our September 2023 and March 2024 programmes). 89% of students reported they feel the Rising Futures programme ha5 made a positive difference to them 89% of students reported they feel more prepared for the future 79% of students reported they feel more motivated to achieve at school 82% of students reported they feel they have skills which are valuable to other people 86% of students rcported they have a better idea about future opportunities available to them -1 thought it was really interesting going to Hounslow House. learning about the people that work there and what they do. l interviewed a lot of people when I went there. It really opened my eyes to the world of work. The most memorable part was meeting [the] Leader of Hounslow. I got to ask him what he does on a daily basis." Rising Futures Student. The Gunnersbury School 14 Yes Futures | Annual Report 2023 Thank You to our Supporters We would Ilke to extend a huge thank you to all our aonors. corporate partners. World of Work Day hosts and our volunteer Yes Futures Coaches. Without their ongoing support. time and commitment we would not be able to deliver such exceptional impactto the young people in our Finding Futures and Rising Futures programmes. Donors Over £15.000 THE DULVEIiTON TIiUST London Borough of Hounslow LSEG Iv THE PROGRESS FOUNDATION FOLINDATION Garfield Weston FL￿NDAlL¥4 £5.000- £10.000 THF. WHIRLWNO Cli￿TABLE TRUST Reed%mith HAVAS Communlty Foundation lor Suirey Essex Community Foundation BL Upto£5.000 Th Hawkinsl Jamess *il•• CHARLES S FRENCH AUGUSTINE COURTAULD TRUST Brown Place CHARITABLE TRUST Corporate World of Work Day partner hosts Hawkins Brown Ilbi zs WELLA smb R￿d￿mi[h CIIIC ansvarcl LSEG Janiess Place HAVAS PROFESSIONALS MARKETS Mercedes-Benz Gartner. Yes Futures | Annual Report 2023 15 Thank You To Our Coaches We would Ilke to thank our Incredible community of volunteer Yes Futures Coaches for their ongoing support and commitment to the programme. 16 Yes Futures | Annual Report 2023 179 One-to-one Coaches and 35 Impact Coaches supported our September 22 and March 23 programmes. Our Coaches collectively completed 976 hours of training and contributed over 5.176 voluntary hours to the programme. 96% of Coaches. who responded to our end of programme suniey, said they saw a positive change in the students as they progressed through the programme. Some Coaches shared their'best part. of participating in the programme- -seeing the progress amongst students- and -making a difference In a young person's life. -seeing the students grow in confidence and start to feel their value and power.- -meeting the students at ITW and seeing them interact together. push themselves and try new activities.- he wonderful positive energy that surrounds the lucky participants in the programme. Also to see how young adults need a more directive approach. Finallythe joy of coaching young adults with such [open] and curious minds." "[My child has become] more independent with planning resources needed for school. contributing to house chores unprompted and taking responsibility for being ready for school on time in the morning.- Parent Yes Futures | Annual Report 2023 17 Next steps After all we have achleved In 2023. we have a very strong basis from which to grow. This year. we streamlined our programme design, resulting in smoother operations and improved impact. Over the next 12 months. we will be focused on strengthening other aspects of Yes Futures. as we prepare to scale from 2025 onwards. We are working hard to review and improve all our internal systems. as well as ensuring we have the strong external partnerships in place that we need to scale successfully. Sustainability is a key aim: and it is crucial that we continue to be a well-run charity, with the team capacity and financial stability necessary to achieve growth and deep impact. In the next three years Iby the end of 2026) we want to have scaled our impact and deepened our influence, in order to be making a substantial difference to many more young people's lives than ever before. To guide us there. the trustees and team have been working on a new long-term strategy which we look forward to publishing in 2024. This strategy has our vision, for all young people to believe in themselves and discover their personal potential. at its heart. Why? Because positive futures begin with self-belief. To find out more about our programmes and new strategy please visit our website and join our mailing list. 18 Yes Futures | Annual Report 2023 Financial Review Yos Futures operatos a sglf-sustaining financial model, aiming to secure the bulk of our income from sale of our programmes to schools. During the Covid pandemic in 2020-21 we saw a drop in earned income due to disruption and school closures. However. since 2022 we have seen a recovery of earned income. which increased in 2023 to our highest ever level. Overall turnover also increased for the third successive year. Income: S-year comparison £600k Oonatèd £400k - Earned incorne £200k £Ok 2019 2020 2021 2022 2023 We continue to view self-sustainability as a key goal. and over the next few years aim to further increase the proportion of earned income. Alongside this, we are grateful for support from donors and grant funders which enables us to be responsive in the midst of an uncertain environment. and to be proactive about developing our services. We were pleased to receive grants from several new grant funders during 2023. as well as donations from new corporate partners. Financial position at31 December 2023 At 31 December 2023 we had £52.694 of unrestricted funds and £31,647 of restricted funds [which are ring-fenced for delivery of our programmes). Reserves policy Yes Futures aims to be a f inancially sustainable organisation which is able to grow its work and reach increasing numbers of young people. We hold reserves for several purposes.. to deliver commitments to current beneficiaries: to be resilient in case of unexpected financial downturn,- to invest in growing our reach to more young people- and to invest in quality improvement of our programme and organisation. During 2023 we made a small in-year surplus. We were pleased to increase our unrestricted reserves by the year-end, and we aim to continue growing our unrestricted reserves in future years. We are continuing to benefit from tho loan wo received in 2021 under the government's Coronavirus Business Interruption Scheme, which has secured our cashflow for several years ahead. At the end of 2023 we had a small but growing unrestricted reserve. plus additional restricted reserves (which are for service delivery in the coming period}. and a good level of cash to support cashflow going forwards. Over the next few years. we aim to build unrestricted reserves to the equlvalent of between 3 and 6 months, costs. The trustees are conscious of the importance of maintaining sufficient reserves. alongside the need to invest to grow our social impact. During 2023 we also implemented efficiencies in our operating model. We are ontinuing to focu5 On responslble control of costs, whilst also seeking to invest in the systems and inf rastructure that will enable us to reach more young people in the future. Yes Futures | Annual Report 2023 19 Reference and Administrative Details Charity name Yes Futures Registered charity number 1155082 Type of governing document Constitution How the charity is constituted Charitable Incorporated Organisation Trustee selection methods New trustees are appointed by the existing trustees following an openly advertised. recruitment and interview process. Charity's principal address 3Space. International House, Brixton. London. SW9 7QE Charity's registered address 3Space. International House, Brixton. London. SW9 7QE The Trustees Andrew Thraves Jessica Badley Emily Ramji Anas Hassan (resigned 2 February 2023) Holly Piper (ended term of office 19 October 2023) Laurie Cuthbert (resigned 19 October 2023] Malcolm Groves (appointed 7 December 2023) Joanna Amand (appointed 7 December 2023] Annabel Tuckey (appointed 1 February 2024) Chief Executive Sarah Sewell 20 Yes Futures | Annual Report 2023 Reference and Administrative Details Objectives. Activities and structure Our charity's purposes as set out in the objects contained in the constitution are: To act as a resource for young people up to the age of 25 living in the UK by providing advice and assistance and organising programmes of physical. educational and other activities as a means of: (a) advancing in life and helping young people by developing their confidence. resilience to lif e challenges. skills. capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals,. (b) advancing education: (c) relieving unemployment; (d) providing recreational and leisure time activity in the interests of social vvelf a￿ for people living in the area of benefit who have need by reason of their youth. age. infirmity or disability. poverty or social and economic circumstances with a view to improving the conditions of life of such persons. The trustees have had regard to the guidance issued by the Charity Commission on public benefit. The trustees delegate day-to-day running of the charity to the Chief Executive and the Leadership Team. within the parameters of he agreed Delegation of Authority. The trustees have reviewed the activities of the charity and considered the risks to which it is exposed. The trustees have implemented a risk management strategy that includos a rogular review of risks. and the establishment of systems and procedures to minimise any potential impact on the charity. Yes Futures | Annual Report 2023 21 statement of Trustees. Responsibilities The Charities Act requires-he Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to: select suitable accounting policies and then apply them consistently.. makejudgements and estimates that are reasonable and prudent: and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. state whether applicable accounting standards and statements of recommended practice have been followed. subject to any material departures disclosed and explained in the financial statements. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act. 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 othor irregularitigs. The Trustees are also responsible for the contents of the Trustees. report. and the responsibility of the Independent Examiner in relation to the Trustees, report is limited to examining the report and ensuring that. on the face of the report. there are no inconsistencies with the figures disclosed in the financial statements. Declaration The Trustees declare that they have approved the Trustees, Report for the year ended 31st December 2023. Signed on behalf of the Board of Trustees: Name l Moi 2rJ24 Signature 22 Yes Futures | Annual Report 2023 he students are more confident when discussing their aspirations for the future and the importance of their own character development. Some of the students were reluctant to attend lessons. They now go to their lessons without hassle and have built their resilience." Teacher. Beacon School "[My daughter] has absolutely loved the Finding Futures programme and I feel that she has learnt a lot. she is more outspoken and positive." Parent 23 Yes Futures | Annual Report 2023 YES FUTURES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YES FUTURES I report to the trustees on my examinat￿ ofthe finwKiai 8tatements of Ye8 FubJre8 (the charltyl for th& year gndod 31 D8cènknr 2023. R•$ponslbllltlM •nd ba#k of rnport As the trustees ol the charity you are responsible lor the prèparatim of fingrK481 stat¢m•nts In actordanc• vAth the r8quThnents of the Chartbe3Act 2011 {the 2011 A£ti. I report In re8p8Ct of my 8x8minalion of the tharivs finant4al statèmènts earriad out und6r sèction 145 of tho 2011 Act. In CO￿ng out my oxamlngtbn I have followed all th8 appk4bb Dlrecth)ns gfven by the Charity Comrn185lon under S￿￿On 14515llb} ofthe 2011 ACL Ind•p•nd•nt •xamln•rf• •t•t•m•nt Slnca the charlty'g gross Income excAeded £2￿,000 your examin8r must be a member of a body listed in 5gcUon 145 of the 2011 ACL I confirm thal l am qualified to undgrtake Iho ox8mln8lk¥) bocgus• l am 8 m&mb&r of th• A$8oclal1￿ of Ch8rt&rod C•tln¢d Accwntsnts. vthkh fis of tha bodl•8. Your attenuon Is ¢knm to the flca that th8 (*arfty has prepar￿1 financ4al ststsments In 8(x0￿anCe ¥￿th A¢¢wnUn9 and R•portlng by Charruès prèparir@ th•lr in aecordaneè V+ith th• Flnanclal Roportlng Stsndard applicatle In tha UK and Republlc of Ireland IFRS 1021 In preference to the Accounting and Rewting by Charilles.. Stslemenl of Recornmend&J Practke 18sued on 1 2005 wh￿h IB roferrod to kn th• •xt#nl r•gulaUons bui h•8 now b￿Th wfthdrawn. l und8rstsnd thot thls h88 b￿n d£￿• In ordw for IIMndal stat•m•nts to P￿de a and falr Y￿¥ In a(urdarK• wlth Generally Atteplod Acuunllng Pracuco effocllvo for reP)￿ng p8rfo¢ts beglnnlrvJ on or aftor 1 January 2015. I hav• ￿MPl￿d my examln•llon. l ¢¢)nflm tMt no havo c¢m• to my *tta)tlon In o)nnodon wlth tho 0X￿1n¥ti￿I giving m¢ ¢au$¢ to b81i¢v8 that in any mg1•ri81 r¢$p¢¢t.' accwnlng re￿￿5 were not kept ￿ respoct of the d￿rity as row1￿1 by I￿on 130 of Ihts 2011 or the financial siatements do Th)t accord wilh those records; or Iha finand81 stat•m•nts do not eompty wlh lh• appllc8bl• wuir8m•nts C￿￿ming thè fomi and cnnt6nl ol accounts set out in the Ch8rltles (Acojunts ond Repmsl Regulations 2008 othef than any requirement that the accounts a true arml falr vlew whkh Is a matter consklered as part ofan Independent examlnallon. I hav• no con￿M8 and hav• como acm88 ro olh•r mgltws In CAinnacYon w6th lh• èxaminavon to vthlth attontlon Bhould be dravm In th18 ￿[*￿t in orderkn enable a pnjper U1th￿dIng of Ihe Ilnandal 8tatemnts to be reached. F J Wlld• FCCA MBA DChA Warner Wilde 4 Marfgold Drfv Bislay Surr GU24 9SF -24- ## **YES FUTURES** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
60,462
150,767
Charitable activities
**4**
368,364
-
Other income
**5**
-
-
**Total income**
428,826
150,767
**Expenditure on:**
Raising funds
**6**
14,862
-
Charitable activities
**7**
373,602
170,055
Other
**11**
9,397
-
**Total expenditure**
397,861
170,055
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
30,965
(19,288)
Fund balances at 1 January
2023
21,729
50,935
**Fund balances at 31**
**December 2023**
52,694
31,647|**Total**
Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
211,229
23,598
150,641
368,364
337,417
-
-
115
-
579,593
361,130
150,641
14,862
11,667
-
543,657
332,393
227,319
9,397
4,947
-
567,916
349,007
227,319
11,677
12,123
(76,678)
72,664
9,606
127,613
84,341
21,729
50,935|Total
2022
£
174,239
337,417
115
511,771
11,667
559,712
4,947
576,326
(64,555)
137,219
72,664| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 25 - ## **YES FUTURES** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**17**
**Net assets**
**Income funds**
Restricted funds
**19**
Unrestricted funds|**2023**
**£**
94,604
224,952|**£**
4,808
159,464|**2022**
**£**
44,302
238,823|**£**
10,830
177,886| |---|---|---|---|---| ||319,556
(160,092)||283,125
(105,239)|| |||||| |||164,272
(79,931)||188,716
( 16,052)| |||84,341||72,664| |||31,647
52,694||50,935
21,729| |||84,341||72,664| The financial statements were approved by the Trustees on ......................... .............................. Andrew Thraves **Chair of Trustees** - 26 - ## **YES FUTURES** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Notes**
**Cash flows from operating activities**
Cash generated from/(absorbed by)
operations
**24**
**Investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Financing activities**
Repayment of bank loans
**Net cash used in financing activities**
**Net decrease in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2023**
**£**
-
(30,989)|**£**
17,118
-
(30,989)
(13,871)
238,823
224,952|**2022**
**£**
(2,384)
(2,959)|**£**
(29,545)
(2,384)
(2,959)
(34,888)
273,711
238,823| |---|---|---|---|---| - 27 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** Yes Futures is a foundation Charitable Incorporated Organisation. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 28 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: IT Equipment 3 years straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 29 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 30 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and gifts
60,462
150,767
Government Grant -
Kickstart
-
-
60,462
150,767
**Grants**
CMC Markets
-
-
Betsy Foundation
-
-
The Gosling Foundation
-
-
LSEG Foundation
-
20,000
Progress Foundation
-
15,000
The Dulverton Trust
35,000
-
Garfield Weston
Foundation
-
30,000
London Borough of
Hounslow
-
60,653
Community Foundation
for Surrey
-
6,950
Other
25,462
18,164
60,462
150,767|**Total**
Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
211,229
23,598
149,700
-
-
941
211,229
23,598
150,641
-
-
60,000
-
-
10,000
-
-
10,000
20,000
-
15,000
15,000
-
15,000
35,000
-
35,200
30,000
-
-
60,653
-
-
6,950
-
-
43,626
23,598
4,500
211,229
23,598
149,700|Total
2022
£
173,298
941| |---|---|---| |||174,239| |||60,000
10,000
10,000
15,000
15,000
35,200
-
-
-
28,098| |||173,298| - 31 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **3 Donations and legacies** ## **(Continued)** Other Restricted Grants include: 2023: £5,000 Whirlwind Trust £5,000 Bedfordshire and Luton Community Foundation £5,664 Essex Community Foundation £2,500 Charles S French Charitable Trust 2022: £2,500 Charles S French Charitable Trust £2,000 The Hedley Foundation Other Unrestricted Grants include: 2023: £10,000 Reed Smith £10,000 Havas £2,500 St James's Place £2,962 Other donations 2022: £10,000 Reed Smith £10,000 Havas £3,598 Other Donations ## **4 Income from charitable activities** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| |||**£**|**£**| ||**Charitable activities**||| ||Student programmes|476,848|394,675| ||Less: deferred income|(108,484)|(57,258)| |||368,364|337,417| |**5**|**Other income**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2023**|**2022**| |||**£**|**£**| ||Other income|-|115| - 32 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **6 Expenditure on raising funds** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| |||**£**|**£**| ||**Fundraising**||| ||Staff costs|14,862|11,667| |**7**|**Expenditure on charitable activities**||| |||**Charitable**|**Charitable**| |||**activities**|**activities**| |||**2023**|**2022**| |||**£**|**£**| ||**Direct costs**||| ||Staff costs|374,899|349,542| ||Depreciation and impairment|6,022|6,217| ||Direct cost of programmes|128,552|145,707| ||Partnership development|4,930|17,273| ||Other staff costs (recruitment, training, welfare etc.)|6,786|8,861| ||Rent|3,342|13,906| ||External staffing costs|4,684|6,068| |||529,215|547,574| ||**Share of support and governance costs (see note 8)**||| ||Support|12,207|9,869| ||Governance|2,235|2,269| |||543,657|559,712| ||**Analysis by fund**||| ||Unrestricted funds|373,602|332,393| ||Restricted funds|170,055|227,319| |||543,657|559,712| |**8**|**Support costs allocated to activities**||| |||**2023**|**2022**| |||**£**|**£**| ||Administrative costs|12,207|9,869| ||Governance costs|2,235|2,269| |||14,442|12,138| ||**Analysed between:**||| ||Charitable activities|14,442|12,138| - 33 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**8**
**Support costs allocated to activities**
**Governance costs comprise:**
Independent Examiner's fee
General overheads - governance|**(Continued)**
**2023**
**2022**
**£**
**£**
1,800
1,800
435
469
2,235
2,269|**(Continued)**
**2023**
**2022**
**£**
**£**
1,800
1,800
435
469
2,235
2,269| |---|---|---| |||2,269| ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **10 Employees** The average monthly number of employees during the year was: |Employees
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
11
**2023**
**£**
335,739
19,604
34,418
389,761|**2022**
**Number**
11| |---|---|---| |||**2022**
**£**
314,363
8,297
38,549| |||361,209| There were no employees whose annual remuneration was more than £60,000. ## **Remuneration of key management personnel** Key Management Personnel are defined as the Chief Executive, Director of Partnerships, Director of Operations and Director of Finance and Governance. The aggregate cost of Key Management Personnel (salary plus on costs such as Employer's National Insurance and Employer's Pension Contributions) totalled £157,976 (2022: £142,846). - 34 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **11 Other** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2023**|2022| |Financing costs|9,397|4,947| ||9,397|4,947| ## **12 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **13 Tangible fixed assets** |**Cost**
At 1 January 2023
At 31 December 2023
**Depreciation and impairment**
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
**14**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
(schools invoiced in advance of programme)
Other debtors
Prepayments and accrued income|**IT Equipment**
**£**
26,515
26,515
15,685
6,022
21,707
4,808
10,830
**2023**
**2022**
**£**
**£**
84,540
-
6,354
1,021
3,710
43,281
94,604
44,302|**IT Equipment**
**£**
26,515
26,515
15,685
6,022
21,707
4,808
10,830
**2023**
**2022**
**£**
**£**
84,540
-
6,354
1,021
3,710
43,281
94,604
44,302| |---|---|---| |||26,515| |||15,685
6,022| |||21,707| |||4,808| |||10,830| |||**2022**
**£**
-
1,021
43,281| |||44,302| - 35 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **15 Loans and overdrafts** |**Loans and overdrafts**||| |---|---|---| |Bank loans
Payable within one year
Payable after one year
The loan is unsecured, with security provided by the UK Government.|**2023**
**£**
116,052
36,121
79,931|**2022**
**£**
147,041| |||30,989
116,052| |||| UK Government Resilience and Recovery Loan repayable within 5 years by instalments with interest charged at 7%. ## **16 Creditors: amounts falling due within one year** |**16**
**Creditors: amounts falling due within one year**||| |---|---|---| |**Notes**
Bank loans
**15**
Other taxation and social security
Deferred income
**18**
Trade creditors
Other creditors
Accruals
**17**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**15**
**18**
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:|**2023**
**£**
36,121
8,162
108,484
210
3,674
3,441
160,092
**2023**
**£**
79,931
**2023**
**£**
108,484
**2023**
**£**
108,484|**2022**
**£**
30,989
-
57,258
10,166
-
6,826| |||105,239| |||**2022**
**£**
116,052| |||**2022**
**£**
57,258| |||**2022**
**£**
57,258| |||| - 36 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**18**
**Deferred income**
Deferred income at 1 January 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2023|**(Continued)**
57,258
43,575
(57,258)
(43,575)
108,484
57,258
108,484
57,258| |---|---| ## **19 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At 1**
Student Programmes
Regional Programme Growth - London
Hounslow
Bedfordshire
Surrey
Essex
**Previous year:**
**At 1**
Student Programmes
Regional Programme Growth - London
Regional Programme Growth - Other
Head of Operations
Day Trips
Volunteer Coaches
Kickstart|**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
5,798
72,500
(68,798)
9,500
45,137
-
(45,137)
-
-
60,653
(44,780)
15,873
-
5,000
(5,000)
-
-
6,950
(5,000)
1,950
-
5,664
(1,340)
4,324
50,935
150,767
(170,055)
31,647
**January**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2022**
**£**
**£**
**£**
**£**
43,167
35,000
(72,369)
5,798
61,000
75,000
(90,863)
45,137
-
37,700
(37,700)
-
15,528
-
(15,528)
-
4,500
2,000
(6,500)
-
3,418
-
(3,418)
-
-
941
(941)
-
127,613
150,641
(227,319)
50,935| |---|---| - 37 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **19 Restricted funds** ## **(Continued)** **Student Programmes** : Grants to support the delivery of our student programmes. Grants were received in 2023 from the Whirlwind Trust, LSEG Foundation, Garfield Weston Foundation, the Charles S French Charitable Trust and the Progress Foundation. **Regional Programme Growth – Greater London** : Grants to support expansion of our programmes to more disadvantaged young people in Greater London. Grants were received from CMC Markets in 2020, 2021 and 2022. **Regional Programme Growth- Other** : Grants towards developing regional programmes outside London. Grants were received from several funders in 2019 and 2020 (the Newby Trust, the Garfield Weston Foundation, the British and Foreign Schools Society, the William Wates Memorial Trust, the Rayne Foundation). **Head of Operations** : A grant from the Resilience and Recovery Fund in 2021 towards the recruitment of a new Head of Operations to support scaling. **Day trips** : A grant from the Ansvar Community Campaign in 2021 and from the Hedley Foundation in 2022 towards the cost of running day trips for students. **Volunteer Coaches** : A grant from The Economist in 2021 towards the costs of recruiting and training volunteer coaches for our programmes. **Kickstart** : A grant from Charityworks towards a paid apprentice working on the Kickstart scheme. **Bedfordshire** : A grant from the Bedfordshire and Luton Community Foundation towards our student programmes in Bedfordshire and Luton. **Surrey** : A grant from the Community Foundation for Surrey towards delivery of our student programmes in Surrey. **Essex** : A grant from the Essex Community Foundation towards delivery of our student programmes in Essex. ## **20 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 1**
General funds
**Previous year:**
**At 1**
General funds|**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
21,729
428,826
(397,861)
52,694
**January**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2022**
**£**
**£**
**£**
**£**
9,606
361,130
(349,007)
21,729| |---|---| - 38 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **21 Analysis of net assets between funds** ||**Unrestricted**|**Restricted**|**Total**| |---|---|---|---| ||**funds**|**funds**|| ||**2023**|**2023**|**2023**| ||**£**|**£**|**£**| |**Fund balances at 31 December 2023 are represented by:**|||| |Tangible assets|4,808|-|4,808| |Current assets/(liabilities)|127,817|31,647|159,464| |Long term liabilities|(79,931)|-|(79,931)| ||52,694|31,647|84,341| ||**Unrestricted**|**Restricted**|**Total**| ||**funds**|**funds**|| ||**2022**|**2022**|**2022**| ||**£**|**£**|**£**| |**Fund balances at 31 December 2022 are represented by:**|||| |Tangible assets|10,830|-|10,830| |Current assets/(liabilities)|126,951|50,935|177,886| |Long term liabilities|(116,052)|-|(116,052)| ||21,729|50,935|72,664| ## **22 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). ## **23 Analysis of changes in net funds** |**Analysis of changes in net funds**|||| |---|---|---|---| ||**At 1 January**|**Cash flows At**|**31 December**| ||**2023**||**2023**| ||**£**|**£**|**£**| |Cash at bank and in hand|238,823|(13,871)|224,952| |Loans falling due within one year|(30,989)|(5,132)|(36,121)| |Loans falling due after more than one year|(116,052)|36,121|(79,931)| ||91,782|17,118|108,900| - 39 - ## **YES FUTURES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**24**|**Cash generated from operations**|**2023**|**2022**| |---|---|---|---| |||**£**|**£**| ||Surplus/(deficit) for the year|11,677|(64,555)| ||Adjustments for:||| ||Depreciation and impairment of tangible fixed assets|6,022|6,217| ||Movements in working capital:||| ||(Increase)/decrease in debtors|(50,302)|15,085| ||(Decrease)/increase in creditors|(1,505)|25| ||Increase in deferred income|51,226|13,683| ||**Cash generated from/(absorbed by) operations**|17,118|(29,545)| - 40 - Empowering every young person to believe in themselves For more information. please contsct Kathryn LuckocL Director of Partnerships: kathryn.luckock@.yesfutures.org www.yesfutures.org | info@yesfutures.org | 02081444 393 Yes Futures is a charity registered in England and Wales. Registered No. 1155082.