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← Yes Futures

2024-12-31-accounts

Yes Futures Annual Report 2024

Finding Futures Partner Schools

Rising Futures Partner Schools

Contents

4 Foreword

Yes Futures | Annual Report 2024

3

Foreword

In the 12 years that Yes Futures has been a charity, we have been proud of our continued high-quality delivery and exceptional impact. 2024 was no exception; 92% of the young people on our programmes saw improvement in at least one of our key skills (‘Talent’) areas: confidence, resilience, communication and self-awareness. The highest improvement was seen in confidence, with 69% of students showing a measurable increase in their confidence; one of our highest results to date. This year, we brought our impact to life through some new video case studies which are available to view on youtube.

In 2024, we supported a total of 541 primary and secondary school students across 30 cohorts from 23 schools, with the support of 224 volunteer Coaches. We completed our partnership with the London Borough of Hounslow (LBH), delivering excellent results to students in eight schools across Hounslow, and welcomed five new secondary schools to the Yes Futures community. We also developed some new partnerships with businesses (Tata Consultancy Services, Royal Engineers/Mid Kent College, Galliford Try, Pension Protection Fund and the Clear Group) , launched a new offer for corporate partners to improve their social mobility and talent pipeline work, and undertook a joint research project with the International Coaching Federation (ICF).

Internally, we focused on Equality, Diversity and Inclusion. Through dedicated Strategic Lever Groups, we developed our team’s understanding and knowledge of EDI, and explored how we could further improve inclusion and youth voice within our work. This led to us undertaking some youth voice work with students at Langley Academy, one of our longeststanding school partners, enabling us to gain further insight into the benefits of our programme for students who participate in it year on year, as well as how we could improve the programme for students in different year groups to respond to their different needs.

As you can read our previous Annual Report, this time last year (early 2024), we were developing a new three-year and long-term strategy, in which we were setting out how we planned to scale our impact and deepen our influence by 2026, setting up the foundations for substantial growth beyond this. Any good strategy is responsive to external changes and market conditions; and there’s no doubt that we currently exist in a challenging context - both the charity sector and school sector have been hit hard by austerity, budget cuts and the cost-of-living crisis. Yes Futures weathered the storms of the past few years thanks to the generosity of our funders, the commitment of our volunteers, and the tireless hard work of our incredible staff team. However, by summer 2024, against the backdrop of a change in government and uncertainty across the school community, we knew we needed to recalibrate our expectations. The reality is that we are working at a smaller scale now than we were a year ago and we know that school funding is likely to continue to be limited for a while. As such, we have needed to adapt our strategic planning and develop a more responsive and agile way forward.

Yes Futures | Annual Report 2024

4

As a result, in 2025, we are implementing a slightly different plan to secure Yes Futures’ future. This new strategic phase will see Yes Futures focus on quality and stability; whilst moving to a more agile delivery model. We will also explore new innovations: using our years of experience, trusted partnerships and respected position in the sector.

Alongside this organisational change, Sarah Sewell, Yes Futures’ Founder and current Chief Executive, is stepping down in early 2025, after 12 incredible years at the helm.

“I founded Yes Futures with a powerful passion for young people’s self belief - and that will never leave me. But it is time for me to focus this passion on my young family, and open up space for a new leader to take Yes Futures forward to this exciting next chapter.

Whilst my departure represents a significant change for the charity, it also comes at the right time; providing a positive opportunity for the new energy and ideas that will come with a new leader. The new Chief Executive is expected to be in place in summer 2025, and I can’t wait to see what they achieve for the charity over the upcoming years.”

Sarah Sewell, Chief Executive

“On behalf of the trustees, I want to say a very big thank you to the entire executive team for their hard work and dedication throughout the year. And special thanks to Sarah for her incredible vision and commitment to driving Yes Futures forward, helping young people grow and thrive—we wish her all the very best for the future. The board is also very grateful to our amazing community of volunteers and supporters. Your passion and dedication give us real confidence that Yes Futures will continue to grow, make an even bigger impact, and reach new heights in the years ahead.”

Andrew Thraves, Chair of Trustees

Yes Futures | Annual Report 2024

5

About Yes Futures

Positive futures begin with self-belief.

We empower young people to make ambitious choices and realise 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, registered in December 2013. Since then, 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 3,400 young people.

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.

Yes Futures | Annual Report 2024

6

Our Finding and Rising Futures Programme

Personalised Coaching : Dedicated Yes Futures Coaches supported students, coaching them either individually or in small groups to develop confidence, resilience, communication and selfawareness, through a structured personal development framework.

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Welcome Session
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Coaching 1
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Coaching 2
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Into the Wild
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Coaching 3
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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.

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World of Work
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Coaching 4
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World of Work : Young people visit an inspirational workplace and networked with professionals. This raises students’ aspirations for their future, improves their knowledge of working life and develops key employability skills.

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Self-Coaching Workshop
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Graduation
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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 2024

7

Our Impact

92%

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 2024 impact data is taken from students who completed the programme in 2024 - this includes students who started (and completed) our September 2023 and March 2024 programmes.

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 choose to focus on one or two Talents throughout the programme):

69% 62% 57% 59% of students have of students have of students have of students have increased their increased their increased their increased their confidence communication resilience self-awareness ee As reported in their end of programme questionnaire: olf 81% of students 82% of students 71% of students 81% of students 82% of students feel the Rising feel they have have a better idea Futures feel more feel more prepared for the motivated to skills which are about future programme has future achieve at school valuable to other opportunities made a positive people available to them difference to them MMi Yes Futures | Annual Report 2024 ~~—o~~

8

What We’ve Learnt & Areas for Improvement

Last year we said we would like to make improvements in the following areas. We list below how we’ve made progress against these goals:

This year we’ve learnt:

An update on our partnership with Hounslow Council

“Colleagues on the Yes Futures programme felt a greater sense of connection to our communities, have become more engaged and developed new skills, through this excellent coaching experience." Amanda Buchanan, Strategic OD Lead, London Borough of Hounslow

In the 2023-24 academic year, Yes Futures and the London Borough of Hounslow (LBH) extended our partnership to deliver the Rising Futures programme to 150 students across 8 cohorts from six schools (Gunnersbury School, The Heathland School, Brentford School for Girls, Kingsley Academy, Chiswick School and Springwest Academy).

88% of students improved in at least one talent area

When one cohort is removed from this data (because it was unusually low due to poor attendance behaviour of that particular group) 95% of students improved in at least one talent area.

63% 60% 52% 65% of students have of students have of students have of students have increased their increased their increased their increased their confidence resilience communication self-awareness

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 representatives 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’.

81% of students reported they feel more prepared for the future

71% of students reported they feel more motivated to achieve at school

83% of students 79% of students 89% of students reported they feel reported they feel reported they have a the Rising Futures they have skills better idea about programme has which are valuable future opportunities made a positive to other people available to them difference to them

“I thought it was really interesting going to Hounslow House, learning about the people that work there and what they do. I 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

Yes Futures | Annual Report 2024

11

Thank You to our Supporters

We would like to extend a huge thank you to all our donors, corporate partners, World of Work Day hosts and our community of schools.Wit

hout their ongoing support, time and commitment we would not be able to deliver such exceptional impact to the young people in our Finding Futures and Rising Futures programmes.

Donors

Over £15,000

£5,000 - £10,000

Up to £5,000

Corporate World of Work Day partner hosts

Yes Futures | Annual Report 2024

12

Thank You To Our Coaches

We would like to thank our incredible community of volunteer Yes Futures Coaches for their ongoing support and commitment to the programme.

191 One-to-One Coaches and 33 Impact Coaches supported our September 23 and March 24 programmes.

Our volunteer coaches collectively completed 1528 hours of training and contributed over 5,730 voluntary hours to the programme.

94% of Coaches, who responded to our end of programme survey, said they saw a positive change in the students as they progressed through the programme.

Some Coaches shared: “The ‘best part’ of participating in the programme for them was…”:

Yes Futures | Annual Report 2024

13

The future of Yes Futures: 2025 and beyond

As explained in the Foreword, this year we are embarking on a new strategy, which will make Yes Futures a more innovative, agile and responsive charity.

The challenges that young people face today are immense and ever-evolving, as they navigate growing up in an uncertain, changeable world. Yes Futures’ approach to building young people’s self-belief through coaching has never been more needed, and we are ambitious about the impact we can have in the coming years.

Despite the challenging external context, both across the charity funding sector and the school sector, we are motivated by the fact that several of our long-standing school partners continue to sign up for future programmes and we are attracting new schools to our community each year. Our 2025 school partners have done everything they could to ensure more young people could benefit from our support again this year, and many of our other valued school partners have emphasised how much they want to continue when their budgets allow. We hope to welcome many of them back in the near future.

It is evident that our work is valued, impactful, and needed more than ever. In 2025, we will continue to deliver our 2025 programmes as planned, whilst implementing our new strategy, to secure Yes Futures’ future and explore new innovations. We are determined to ensure the quality of our work can be felt by more young people, for many years to come.

Yes Futures | Annual Report 2024

14

Financial Review

During 2024 Yes Futures felt the effects of budget squeezes in the schools sector, which led to many schools cutting back on external programmes such as ours. This resulted in our earned income and overall turnover reducing back to the level of several years ago. However in spite of this we were glad to be able to recruit some new school partners during the year. We were also able to maintain donated income at a similar level to recent years.

During the year we identified the need to become more agile and better able to expand and contract our delivery levels in accordance with variable school market conditions. We therefore started work on a restructure during 2024, which was completed in early 2025. We have shrunk to a smaller core team of delivery staff, to match the likely size of the schools market for the next few years, whilst also allowing more time for development of new products and services which build self-belief in young people.

During this time of change we have been very grateful for support from donors and grant funders which has enabled us to be proactive about developing our reach and our services in an uncertain environment. We were pleased to receive grants from several new grant funders during 2024, and ongoing support from our corporate partners.

During 2024 we used up our brought forward restricted reserves (which were for programme delivery during 2024), and also had to dip into our unrestricted reserves when we faced downturns in school funding. One of our stated reasons for holding reserves is to be resilient in the face of unexpected financial downturns, so the trustees agreed this was a good use of the funds, whilst also planning to rebuild reserves as soon as possible. Having identified the need to use up some unrestricted reserves the trustees took steps to monitor the financial position very closely, including seeking external advice, leading towards a team restructure. During this time of change we are continuing to benefit from the loan we received in 2021 under the government’s Coronavirus Business Interruption Scheme, which has secured our cashflow.

Yes Futures | Annual Report 2024

15

Financial position 31 December 2024

At 31 December 2024 we had £8,040 of unrestricted funds and £4,328 of restricted funds (which are ring-fenced for delivery of our programmes).

Reserves policy

Yes Futures aims to be a financially 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 2024 we needed to use some unrestricted reserves to help the organisation survive an unexpected financial downturn. We plan to gradually rebuild our unrestricted reserves each year to reach the equivalent 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.

Yes Futures | Annual Report 2024

16

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 Malcolm Groves Joanna Amand Annabel Tuckey (resigned 30 September 2024) Ananya Tiwari (appointed 18 April 2024)

Chief Executive:

Sarah Sewell - Outgoing CEO (left April 2025) Ali Jaffer - Interim CEO (from March 2025)

Yes Futures | Annual Report 2024

17

Objectives and activities

Objectives and Activities: 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 life 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 welfare 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 the 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 includes a regular review of risks, and the establishment of systems and procedures to minimise any potential impact on the charity.

Yes Futures | Annual Report 2024

18

statement of Trustees. Responsibilities The Charities Act requires the 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". make judgements 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 suff icient 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 fortaking reasonable steps for the prevention and detection of fraud and other irregularities. 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 forthe year ended 31st December 2024. Signed on behalf of the Board of Trustees: 80 4p-1 12> Signature Name 19 Yes Futures | Annual Report 2024

YES FUTURES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YES FUTURES I report to the trustees on my examination of the financial statements of Yes Futures (the charity) for the year ended 31 De￿mber 2024. Responsibilities and basis of report As the trustees of the Gharity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the Charities Act 2011. Independent examiner's statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the AssoGiation of Chartered Certified Accountants, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulalions but has now been wilhdrawn. l undersland that this has been done in order for the financial ststements to provide a true and fair view in accordance with UK Generally AC￿pted Accounting Practice. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements Gon￿Ming the form and content of finanual statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. F J Wilde FCCA MBA DChA Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF Date.. -20-

YES FUTURES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
53,260
134,181
Charitable activities
4
241,969
-
Investments
5
1,409
-
Total income
296,638
134,181
Expenditure on:
Raising funds
6
13,200
-
Charitable activities
7
320,691
161,812
Other expenditure
12
7,089
-
Total expenditure
340,980
161,812
Net income/(expenditure)
(44,342)
(27,631)
Transfers between
funds
(312)
312
Net movement in
funds
9
(44,654)
(27,319)
Reconciliation of funds:
Fund balances at 1 January
2024
52,694
31,647
Fund balances at 31
December 2024
8,040
4,328		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
187,441
60,462
150,767
241,969
368,364
-
1,409
-
-
430,819
428,826
150,767
13,200
14,862
-
482,503
373,602
170,055
7,089
9,397
-
502,792
397,861
170,055
(71,973)
30,965
(19,288)
-
-
-
(71,973)
30,965
(19,288)
84,341
21,729
50,935
12,368
52,694
31,647		 Total
2023
£
211,229
368,364
-
579,593
14,862
543,657
9,397
567,916
11,677
-
11,677
72,664
84,341

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

YES FUTURES BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 14 566 4,808 Current assets Debtors Cash at bank and in hand 15 7,456 185,271 94,604 224,952 192.727 319,556 Creditors: amounts falling due viithin one year 17 (120,049) {160,0921 Net current assets 72,678 159,464 Total assets less currènt liabilities 73,244 164,272 Creditors: amounts falling due after more than one year 18 (60,876) (79.931) Net assets 12,368 84,341 The funds of the charity Restricted income funds Unrestricted funds 21 22 4.328 8,040 31,647 52,694 12,368 84.341 The financial stalemer¢ts were approved by the trustees on ..S.o.. hF)A.¥ 33 1 Andrew Thraves Chair of Trustees

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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.

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

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.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
53,260
127,928
Grants
-
6,253
53,260
134,181		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
181,188
60,462
150,767
6,253
-
-
187,441
60,462
150,767		 Total
2023
£
211,229
-
211,229

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3
Income from donations and legacies
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
Heathrow Charitable
Trust
-
7,495
Sussex Community
Foundation
-
9,834
LSEG Foundation
-
20,400
Progress Foundation
-
15,000
The Dulverton Trust
35,000
-
Garfield Weston
Foundation
-
-
London Borough of
Hounslow
-
47,175
Community Foundation
for Surrey
-
-
Other
18,260
28,024
53,260
127,928
Grants
Government Grants:
Access to Work
-
6,253
-
6,253		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
£
£
£
(Continued)
7,495
-
-
-
9,834
-
-
-
20,400
-
20,000
20,000
15,000
-
15,000
15,000
35,000
35,000
-
35,000
-
-
30,000
30,000
47,175
-
60,653
60,653
-
-
6,950
6,950
46,284
25,462
18,164
43,626
181,188
60,462
150,767
211,229
6,253
-
-
-
6,253
-
-
-		 Total
Unrestricted
Restricted
Total
funds
funds
2024
2023
2023
2023
£
£
£
£
(Continued)
7,495
-
-
-
9,834
-
-
-
20,400
-
20,000
20,000
15,000
-
15,000
15,000
35,000
35,000
-
35,000
-
-
30,000
30,000
47,175
-
60,653
60,653
-
-
6,950
6,950
46,284
25,462
18,164
43,626
181,188
60,462
150,767
211,229
6,253
-
-
-
6,253
-
-
-
211,229
-
-

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Income from donations and legacies

(Continued)

Other Restricted Grants include:

2024: £5,000 Whirlwind Trust £5,000 Charles S French Charitable Trust £5,000 The Hedley Foundation £4,874 Essex Community Foundation £1,200 Gatwick Airport Trust £5,000 Vintners Foundation £1,950 Bedford and Luton Community Foundation

2023: £5,000 Whirlwind Trust £5,000 Bedfordshire and Luton Community Foundation £5,664 Essex Community Foundation £2,500 Charles S French Charitable Trust Other Unrestricted Grants include:

2024: £10,000 Reed Smith £2,557 The Big Give donations 2023: £10,000 Reed Smith £10,000 Havas £2,500 St James's Place £2,962 Other donations

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable activities
Sale of goods 319,274 476,848
Less: deferred income (77,305) (108,484)
241,969 368,364
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 1,409 -

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising
Staff costs 13,200 14,862
7 Expenditure on charitable activities
Charitable Charitable
activities activities
2024 2023
£ £
Direct costs
Staff costs 381,168 374,899
Depreciation and impairment 4,242 6,022
Direct cost of programmes 51,145 128,552
Partnership development 11,958 4,930
Other staff costs (recruitment, training, welfare etc.) 11,002 6,786
Rent 3,240 3,342
External staffing costs 5,138 4,684
467,893 529,215
Share of support and governance costs (see note 8)
Support 12,096 12,207
Governance 2,514 2,235
482,503 543,657
Analysis by fund
Unrestricted funds 320,691 373,602
Restricted funds 161,812 170,055
482,503 543,657
8 Support costs allocated to activities
2024 2023
£ £
Administrative costs 12,096 12,207
Governance costs 2,514 2,235
14,610 14,442
Analysed between:
Charitable activities 14,610 14,442

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

8
Support costs allocated to activities
Governance costs comprise:
Independent examiner fees
General overheads - governance
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 (Continued)
2024
2023
£
£
1,976
1,800
538
435
2,514
2,235
2024
2023
£
£
1,976
1,800
4,242
6,022		 (Continued)
2024
2023
£
£
1,976
1,800
538
435
2,514
2,235
2024
2023
£
£
1,976
1,800
4,242
6,022
2,235
2023
£
1,800
6,022

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. One trustee received reimbursed travel costs of £137.

11 Employees

The average monthly number of employees during the year was:

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
Aggregate compensation		 2024
Number
11
2024
£
345,584
19,110
29,674
394,368
2024
£
151,875		 2023
Number
11
2023
£
335,739
19,604
34,418
389,761
2023
£
157,976

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11 Employees

(Continued)

Key Management Personnel are defined as the Chief Executive, Director of Partnerships, Director of Operations and Director of Finance and Governance.

12 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Financing costs 7,089 9,397

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Cost
At 1 January 2024
At 31 December 2024
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 IT Equipment
£
26,515
26,515
21,707
4,242
25,949
566
4,808
2024
2023
£
£
-
84,540
4,090
6,354
3,366
3,710
7,456
94,604
26,515
21,707
4,242
25,949
566
4,808
2023
£
84,540
6,354
3,710
94,604

15 Debtors

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

16 Loans and overdrafts

Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2024
£
92,253
31,377
60,876		 2023
£
116,052
36,121
79,931

The loan is unsecured, with security provided by the UK Government.

UK Government Resilience and Recovery Loan repayable within 5 years by instalments with interest charged at 7%.

17 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Bank loans
16
Other taxation and social security
Deferred income
19
Trade creditors
Other creditors
Accruals		 2024
£
31,377
4,344
77,305
947
2,359
3,717
120,049		 2023
£
36,121
8,162
108,484
210
3,674
3,441
160,092

Non-adjusting post balance sheet event: The loan provider has given an additional 6-month repayment holiday after the year end.

The updated schedule is as follows: £12,371 due within one year £79,882 due after one year

18 Creditors: amounts falling due after more than one year

18
Creditors: amounts falling due after more than one year
Notes
Bank loans
16
19
Deferred income
Other deferred income		 2024
£
60,876
2024
£
77,305		 2023
£
79,931
2023
£
108,484

Deferred income is included in the financial statements as follows:

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

19 Deferred income (Continued)
2024 2023
£ £
Deferred income is included within:
Current liabilities 77,305 108,484
Movements in the year:
Deferred income at 1 January 2024 108,484 57,258
Released from previous periods (108,484) (57,258)
Resources deferred in the year 77,305 108,484
Deferred income at 31 December 2024 77,305 108,484
20 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 29,674 34,418

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

21 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
Hounslow
Bedfordshire
Surrey
Essex
Sussex
Access to work funding		 January
2024
Incoming
resources
Resources
expended
Transfers
At 31
December
2024
£
£
£
£
£
9,500
50,400
(59,900)
-
-
15,873
54,671
(70,544)
-
-
-
1,950
(1,950)
-
-
1,950
-
(1,950)
-
-
4,324
9,874
(14,198)
-
-
-
11,033
(6,705)
-
4,328
-
6,253
(6,565)
312
-
31,647
134,181
(161,812)
312
4,328

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

21
Restricted funds
Previous year:
At 1
Student Programmes
Regional Programme Growth -
London
Hounslow
Bedfordshire
Surrey
Essex		 (Continued)
January
2023
Incoming
resources
Resources
expended
Transfers
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

Student Programmes: Grants to support the delivery of our student programmes. Grants were received in 2024 from the Whirlwind Trust, LSEG Foundation, the Hedley Foundation, Vintners Company and the Progress Foundation.

Surrey: A grant from the Community Foundation for Surrey towards delivery of our student programmes in Surrey.

Essex: Grants from the Essex Community Foundation and Charles S French Charitable Trust towards delivery of our student programmes in Essex.

Hounslow: Grants from the London Borough of Hounslow and Heathrow Charitable Trust towards delivery of our student programmes in Hounslow.

Sussex: Grants from Gatwick Airport Community Trust and Sussex Community Foundation towards delivery of our student programmes in Sussex.

Bedfordshire: A grant from the Bedfordshire and Luton Community Foundation towards our student programmes in Bedfordshire and Luton.

Access to Work: Grant funding from the Department for Work and Pensions to provide specific access assistance to an employee under the Access to Work scheme.

YES FUTURES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

22 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
2024
Incoming
resources
Resources
expended
Transfers
At 31
December
2024
£
£
£
£
£
52,694
296,638
(340,980)
(312)
8,040
January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
21,729
428,826
(397,861)
-
52,694

23 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 December 2024:
Tangible assets
566
-
Current assets/(liabilities)
68,350
4,328
Long term liabilities
(60,876)
-
8,040
4,328
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Tangible assets
4,808
-
Current assets/(liabilities)
127,817
31,647
Long term liabilities
(79,931)
-
52,694
31,647		 Total
2024
£
566
72,678
(60,876)
12,368
Total
2023
£
4,808
159,464
(79,931)
84,341

24 Related party transactions

During 2024, one trustee claimed reimbursement of travel costs. (Total reimbursed: £136.79).

For more information, please contact info@yesfutures.org

www.yesfutures.org | info@yesfutures.org | 02081 444 393 Yes Futures is a charity registered in England and Wales. Registered No. 1155082.