**From:** Mike Nicholls **To:** Treasurer **Subject:** Annual Report for Youth Dream **Date:** 21 July 2023 13:52:20 > In 2022 the following served as trustees > Kate Grant > Anna Gaymer > John Fletcher > Lee Sharp > Kim Long > Chris Tate > Jackie Manuel > Mike Nicholls > Gemma Hinton > > We are grateful for our staff > Kim Long > Kathleen Pirard > Tegan Long > Chris Williams > Chris Willshire > Kate Clarke > Jackie Shepheard > Dee Plum > Robbie Khan > Lily Almey The core work of counselling, mentoring , inclusion, activities, schools support , initiatives across the Manhood Peninsula and social action projects has continued. The Bridge has sustained the lease arrangements with TKAT , Men in Sheds and the Hidden Garden. All safeguarding, data protection and financial matters have been expedited safely. Youth Dream is in good heart in 2023 Mike Nicholls Chairman ## **YOUTH DREAM SELSEY LTD DIRECTORS' REPORT AND UNAUDITED ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** Phoenix Accounting Services Ltd MAAT 3 Selsey Bus Ctr Selsey Chichester PO20 0RS ## **Youth Dream Selsey Ltd Directors' Report and Unaudited Abridged Financial Statements For The Year Ended 31 December 2022** ## **Contents** ||**Page**| |---|---| |Company Information|1| |Directors' Report|2| |Accountant's Report|3| |Abridged Income and Expenditure Account|4| |Abridged Balance Sheet|5| |Notes to the Abridged Financial Statements|6—8| |The following pages do not form part of the statutory accounts:|| |Abridged Detailed Income and Expenditure Account|9| **Youth Dream Selsey Ltd Company Information For The Year Ended 31 December 2022** |**Directors**|Mr Michael Nicholls| |---|---| ||Mr John Fletcher| ||Mr Christopher Taite| ||Ms Anna Gaymer| ||Ms Jacqui Manuel| ||Mrs Kate Grant| ||Ms Deborah Greenwood - Hewitt| |**Company Number**|8752886| |**Registered Office**|Unit 3, Selsey Business Centre| ||The Bridleway| ||Selsey| ||West Sussex| ||PO20 0RS| |**Accountants**|Phoenix Accounting Services Ltd| ||MAAT| ||3 Selsey Bus Ctr| ||Selsey| ||Chichester| ||PO20 0RS| Page 1 ## **Youth Dream Selsey Ltd Company No. 8752886 Directors' Report For The Year Ended 31 December 2022** The directors present their report and the financial statements for the year ended 31 December 2022. ## **Directors** The directors who held office during the year were as follows: Mrs Susan Cooper Resigned 22/06/2022 Mr Michael Nicholls Mr Lee Sharp Mr John Fletcher Mr Christopher Williams Ms Anna Gaymer Ms Jacqui Manuel Appointed 27/06/2022 Miss Kate Grant Ms Deborah Greenwood - Hewitt ## **Statement of Directors' Responsibilities** The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **Small Company Rules** This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. On behalf of the board Mr Michael Nicholls Director 14/07/2023 Page 2 ## **Youth Dream Selsey Ltd Accountant's Report For The Year Ended 31 December 2022** ## **Report of the Accountant to the directors of Youth Dream Selsey Ltd** These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2022. We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements. On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”. You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited. The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance. Signed ## **Phoenix Accounting Services Ltd** 14/07/2023 Phoenix Accounting Services Ltd MAAT 3 Selsey Bus Ctr Selsey Chichester PO20 0RS Page 3 ## **Youth Dream Selsey Ltd Abridged Income and Expenditure Account For The Year Ended 31 December 2022** |**Notes**
**GROSS (DEFICIT)/SURPLUS**
Administrative expenses
**OPERATING (DEFICIT)/SURPLUS**
Other interest receivable and similar income
**(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR**|**2022**
**£**
(5,113)
(8,863)
(13,976)
49
(13,927)|**2021**
**£**
59,681
(20,255)| |---|---|---| |||39,426
6| |||39,432| The notes on pages 6 to 8 form part of these financial statements. Page 4 ## **Youth Dream Selsey Ltd Abridged Balance Sheet As at 31 December 2022** |**Notes**
**FIXED ASSETS**
Tangible Assets
**4**
**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One**
**Year**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
Income and Expenditure Account
**MEMBERS' FUNDS**|**2022**
**£**
**£**
782
782
1,503
84,078
85,581
(3,571)
82,010
82,792
82,792
82,792
82,792|**2022**
**£**
**£**
782
782
1,503
84,078
85,581
(3,571)
82,010
82,792
82,792
82,792
82,792|**2021**
**£**
**£**
635
635
1,451
94,833
96,284
(199)
96,085
96,720
96,720
96,720
96,720|**2021**
**£**
**£**
635
635
1,451
94,833
96,284
(199)
96,085
96,720
96,720
96,720
96,720| |---|---|---|---|---| |||782
82,010||635
96,085| ||85,581
(3,571)||96,284
(199)|| |||||| |||82,792||96,720| |||82,792||96,720| |||82,792||96,720| |||82,792||96,720| For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. All of the company's members have consented to the preparation of an Abridged Income and Expenditure Account and an Abridged Balance Sheet for the year end 31 December 2022 in accordance with section 444(2A) of the Companies Act 2006. On behalf of the board Mr Michael Nicholls Director 14/07/2023 The notes on pages 6 to 8 form part of these financial statements. Page 5 ## **Youth Dream Selsey Ltd Notes to the Abridged Financial Statements For The Year Ended 31 December 2022** ## 1. **General Information** Youth Dream Selsey Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 8752886. The registered office is Unit 3, Selsey Business Centre, The Bridleway, Selsey, West Sussex, PO20 0RS. The charity number is 1155982 ## 2. **Accounting Policies** ## 2.1. **Basis of Preparation of Financial Statements** The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 ## 2.2. **Turnover** Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. ## **Sale of goods** Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. ## **Rendering of services** Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. ## 2.3. **Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: ## Fixtures & Fittings 25% SL ## 3. **Average Number of Employees** Average number of employees, including directors, during the year was as follows: |Office and administration
4.
**Tangible Assets**
**Cost**
As at 1 January 2022
Additions
As at 31 December 2022
**Depreciation**
As at 1 January 2022
Provided during the period
As at 31 December 2022
**Net Book Value**
As at 31 December 2022
As at 1 January 2022|**2022**
8
8|**2021**
8| |---|---|---| |||8| |||**Total**
**£**
5,555
760| |||6,315| |||4,920
613| |||5,533| |||782| |||635| Page 6 ## **Youth Dream Selsey Ltd Notes to the Abridged Financial Statements (continued) For The Year Ended 31 December 2022** ## 5. **Reserves** Youth Dream (Selsey) Ltd operates a three year business plan with a fundraising strategy and business risk assessment. Each year a budget of income and expenditure is prepared with the expectation of all monies toe be spent on the charities aimes. The only exception to this is that £4000.00 is ring fenced to pay for closure costs should the charity fail to sustain any funding opportunities.This is reviewed each month at the directors meetings. The reserve balance is to always maintain 6 months expediture and is monitored regularly so that actions can be implented should they near this figure. The National Lottery community Fund RC and South East Region 66255.85 -106698 -40442.15 Current A/C Ref Number Date In Out Lottery NOTES Lottery a/c Ref374 " 0" 05/12/2022 625 0 Salary - Grant Lottery - Ref 15 15 375 " 0" 05/12/2022 1194 0 Salary - Grant Lottery - Ref 16 16 376 " 0" 05/12/2022 908.8 0 Salary - Grant Lottery - Ref 17 17 377 " 0" 05/12/2022 1060.48 0 Salary - Grant Lottery - Ref 18 18 378 " 0" 05/12/2022 2155.79 0 Salary - Grant Lottery - Ref 19 19 415 " 0" 15/11/2022 1060.48 0 Salary - Grant Lottery - Ref 21 21 419 " 0" 14/11/2022 908.8 0 Salary - Grant Lottery - Ref 22 22 420 " 0" 14/11/2022 1194 0 Salary - Grant Lottery - Ref 23 23 421 " 0" 14/11/2022 625 0 Salary - Grant Lottery - Ref 24 24 422 " 0" 14/11/2022 1018.71 0 Salary - Grant Lottery - Ref 25 25 423 " 0" 14/11/2022 2155.79 0 Salary - Grant Lottery - Ref 26 26 428 " 0" 11/11/2022 -53349 Grant - Lottery 27 509 " 0" 03/10/2022 8907 0 Grant in - Lottery 29 544 " 0" 07/09/2022 8883 0 Grant 30 597 " 0" 01/08/2022 8894 0 Grant - Lottery 33 637 " 0" 06/07/2022 8883 0 Grant _ Lottery 34 688 " 0" 08/06/2022 8891 0 Grant - Lottery 35 716 " 0" 24/05/2022 8891 0 Grant - Lottery 36 726 " 0" 13/05/2022 -53349 Grant - Lottery 37 Reconciliation Balance per current account analysis 40442.15 Add bank interest 05.12.22 7.78 08.11.22 1.52 Per deposit accounts 40451.45 Please not these funds are restriction in accordance with the National Lottery Guidance ## 6. **Company limited by guarantee** The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £10. Page 7 **Youth Dream Selsey Ltd Notes to the Abridged Financial Statements (continued) For The Year Ended 31 December 2022** ## 7. **grants anaylsis** Grants Received withing in the year were as follows :- Sussex community 10000.00 Target Professiona 350.00 SELSEY EMPLOY FERRY FARM BBP 2000.00 IRWIN MITCHELL LLP FRIARSGATE TRUST 1000.00 CLARION FUTURES BGC 5000.00 CLARION FUTURES BGC 1250.00 THE PCC FOR SUSSEX SPA1 2000350597 K 3500.00 CLARION FUTURES BGC CLARION FUTURES 2000.00 MAIN GRANTS BGC Lottery 53349.00 East Wittering & B YOUTH WORKER BGC 10000.00 MAIN GRANTS BGC Lottery 53349.00 SELSEY MONEY SELSEY MONEY SUPPO 500.00 BBC CIN 1848 COLB BGC 500.00 CLARION FUTURES BGC CLARION FUTURES 5000.00 BBC CIN 1848 Y3 BGC 10000.00 TH ER KL C T SW F EKCT M-0922-08 5000.00 Youth Dream (Selsey) Ltd Lottery accounts report 1st January 2021 to 31st December 2022 The National Lottery Community Fund RC London and South East Region 66255.85 -106698 -40442.15 Current A/C Ref Number Date In Out Lottery NOTES Lottery a/c Ref 374 " 0" 05/12/2022 625 0 Salary - Grant Lottery - Ref 15 15 375 " 0" 05/12/2022 1194 0 Salary - Grant Lottery - Ref 16 16 376 " 0" 05/12/2022 908.8 0 Salary - Grant Lottery - Ref 17 17 377 " 0" 05/12/2022 1060.48 0 Salary - Grant Lottery - Ref 18 18 378 " 0" 05/12/2022 2155.79 0 Salary - Grant Lottery - Ref 19 19 415 " 0" 15/11/2022 1060.48 0 Salary - Grant Lottery - Ref 21 21 419 " 0" 14/11/2022 908.8 0 Salary - Grant Lottery - Ref 22 22 420 " 0" 14/11/2022 1194 0 Salary - Grant Lottery - Ref 23 23 421 " 0" 14/11/2022 625 0 Salary - Grant Lottery - Ref 24 24 422 " 0" 14/11/2022 1018.71 0 Salary - Grant Lottery - Ref 25 25 423 " 0" 14/11/2022 2155.79 0 Salary - Grant Lottery - Ref 26 26 428 " 0" 11/11/2022 -53349 Grant - Lottery 27 509 " 0" 03/10/2022 8907 0 Grant in - Lottery 29 544 " 0" 07/09/2022 8883 0 Grant 30 597 " 0" 01/08/2022 8894 0 Grant - Lottery 33 637 " 0" 06/07/2022 8883 0 Grant _ Lottery 34 688 " 0" 08/06/2022 8891 0 Grant - Lottery 35 716 " 0" 24/05/2022 8891 0 Grant - Lottery 36 726 " 0" 13/05/2022 -53349 Grant - Lottery 37 Reconciliation Balance per current account analysis 40442.15 Add bank interest 05.12.22 7.78 08.11.22 1.52 per deposit account 40451.45 Please note that these funds are striction in accordance with the Natiaonal Lottery guidance Page 8 ## **Youth Dream Selsey Ltd Abridged Detailed Income and Expenditure Account For The Year Ended 31 December 2022** |**TURNOVER**
Grants and subsidies received
Other trading income
**COST OF SALES**
Purchases
Subcontractor costs
Wages and salaries
**GROSS (DEFICIT)/SURPLUS**
**Administrative Expenses**
Rent
Repairs and maintenance
Computer software, consumables and maintenance
Insurance
Printing, postage and stationery
Telecommunications and data costs
Accountancy fees
Legal fees
Consultancy fees
Depreciation
Sundry expenses
**OPERATING (DEFICIT)/SURPLUS**
**Other interest receivable and similar income**
Bank interest receivable
**(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR**|**2022**
**£**
**£**
162,798
24,321
187,119
14,181
2,763
175,288
(192,232)
(5,113)
-
2,961
1,317
2,106
364
990
53
160
299
613
-
(8,863)
(13,976)
49
49
(13,927)|**2022**
**£**
**£**
162,798
24,321
187,119
14,181
2,763
175,288
(192,232)
(5,113)
-
2,961
1,317
2,106
364
990
53
160
299
613
-
(8,863)
(13,976)
49
49
(13,927)|**2021**
**£**
**£**
200,834
21,825
222,659
28,648
5,630
128,700
(162,978)
59,681
8,160
5,075
300
2,069
-
914
(41)
2,946
-
360
472
(20,255)
39,426
6
6
39,432|**2021**
**£**
**£**
200,834
21,825
222,659
28,648
5,630
128,700
(162,978)
59,681
8,160
5,075
300
2,069
-
914
(41)
2,946
-
360
472
(20,255)
39,426
6
6
39,432| |---|---|---|---|---| |||187,119
(192,232)||222,659
(162,978)| ||-
2,961
1,317
2,106
364
990
53
160
299
613
-||8,160
5,075
300
2,069
-
914
(41)
2,946
-
360
472|| |||(5,113)
(8,863)||59,681
(20,255)| ||49||6|| |||(13,976)
49||39,426
6| |||||| |||(13,927)||39,432| Page 9 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesldirectorsl members of Youth Dream (Selsey} Ltd On accounts for the year ended 3151 December 2022 Charity no.. 1155982 Company no.: 8752886 Set out on pages I report to the charity trustees on my examination of the accounts of the Company for the year ended 3111212022. Responsibilities and basis of report As the charity's trustees of the Company (who are also the directors of the company for the purposes of company lawl, you are responsible for the preparation of the accounts in accordanGe with the requirements of the Companies Act 20061"the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act"). In carrying OLJt my examination, I have followed the Directions given by the Charity Commission (under section 145(51{b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention which gives me cause to believe that.. accounting records were kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records.. or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination., or .Ihe accounts have not been prepared in accordance with the Charities SORP {FRS102) I have no concerns 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 accounts to be reached. Please delete the words in the brackets rf they do not apply. Signed: Date: 1410712023 IER October 2018 Name.. Karen Pearce Relevant professional qualification{s) or body lif any}: Address: 12 Manor Farm Close Selsey Wesl Sussex, P020 OLZ Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32. Independenl examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018