Yes Futures
Annual Report
2024
## **Finding Futures Partner Schools**
## **Rising Futures Partner Schools**
## **Contents**
## **4 Foreword**
- **6 About Yes Futures**
- **7 Our Finding and Rising Futures Programme**
- **8 Our Impact**
- **9 What we’ve Learnt & Areas for Improvement**
- **10 An update on our partnership with the London Borough of Hounslow**
- **12 Thank You To Our Supporters**
- **13 Thank You To Our Coaches**
- **14 The future of Yes Futures: 2025 and beyond**
- **15 Financial Review**
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
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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
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## **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
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## **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
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## **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.
- 541 students participated in our September 2023 and March 2024 programmes.
- 51 of these students (from three schools) participated in the Finding Futures programme.
- 191 volunteer coaches contributed over 5,730 hours of their time to the programme (plus training) and 33 impact coaches contributed over 1,800 hours.
- 428 students completed their Talent Toolbox (a response rate of 79%) and 389 students completed our end of programme questionnaire (a response rate of 72%).
- 92% of all students improved in at least one Talent area
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~~
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## **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:
- Increase the response rates to our Talent Scorecard and end of programme questionnaire to 75%.
- 79% of students completed our Talent Scorecard and 72% completed the end of programme questionnaire. This is an overall response rate of 76%.
- Have more students participate from primary schools.
- We had 3 primary schools participate in our Sept 2023 programme and 5 primary schools participate in Sept 2024. Schools’ financial situation continues to be a barrier for many primary schools to participate, so we have developed some innovative ways to enable schools to still access our programmes, for example, schools in multiacademy trusts have been able to co-fund and participate together as a cohort where the logistics allow.
- 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.
- We produced a written case study of the programmes we have run with Robertsbridge Community College
- We have also produced a number of video case studies which are available on our Youtube channel.
This year we’ve learnt:
- For our September 2024 programme we started capturing whether students were in care or care experienced so we could explore whether there are differences in the impact for these students specifically, or if we could develop additional support to help students with this experience through our programmes. We can’t share data on this until next year, once the programmes have completed.
## **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
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## **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
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## **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…”:
- _Seeing the students grow in self awareness and better understanding of themselves_
- _I have loved meeting the wonderful young students who have the potential for so much in their lives and being a part of the support system to help them towards their goals._
- _Meeting the students and feeling inspired by their goals and how much potential they have._
- _Mixing in person with the students, just making learning fun and relaxing. I believe both the students and I learnt something. Also seeing the smile on their faces when I congratulated them on their successful gaol achievement._
- _Seeing the difference the programme has made for the students. For some it's been about putting their hand up in class, for others it's been giving them the space to think about their futures._
- _Working with the students - their outlook on life was so refreshing and inspiring. Hearing how they got on at the trips, pushed themselves out of their comfort zone and built their confidence, resilience and self-awareness was amazing._
Yes Futures | Annual Report 2024
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## **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
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## **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
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## **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
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## **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
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## **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
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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 Dember 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
ACpted 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 GonMing 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.
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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.
- 23 -
## **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.
- 24 -
## **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|
- 25 -
## **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|
|||-|
|||-|
- 26 -
## **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|-|
- 27 -
## **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|
- 28 -
## **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|
- 29 -
## **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**
- 30 -
## **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:
- 31 -
## **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|
|---|---|
- 32 -
## **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.
- 33 -
## **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).
- 34 -
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.