CHRYSALIS YOUTH EMPOWERMENT NETWORK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees D Bale Coh Dr D Taybr C Foster N Panter N Geaney Charlty number 1158392 Pag• Trustees, report Independent examir¢efs report Slalemenl of financial acts'vths Balance sheet Staiemenl of Cash Flow5 Notes lo the financial slalements 8- 13
The trustees present their report and financial statements for the year ended 31 December 2023. The financial statements have teen prepared in a¢¢ordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document. the Charities Act 2011 and Accounting and Reporting by Charities". Statement of Recommended Praelice applicable to charities prepann9 their account$ In aeeordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las arnended for accounting periods commencing from 1 January 20161. Oblectlv85 and •¢tlvllle• The chanty's objects are 1. To advance in lrfe and relieve needs of African young people 2. To promote children's rights 3. To prevent and relieve povety in Africa 4. To advance the education of the Alrican Publ in conserVatn. protection and improvement of the natural environment The policies adopted in furtheranc8 of these objects are the maintenance of a risk register, a child protection policy, a reserves policy and the maintenance of a conflicts of interest register. There has been no change in the policies during the year. The trustees have paid due regard to guanCe issued by the Charity Commission in dec19 what activities the charity should undertake. MISSION STATEMENT Chrysalis Youth Empowermnl NetMork exists to provide financBI Support, training. advice and guidance lo youth In Uganda that are prepared to create change in their communities and society. VISION STATEMENT Our vision is lo see all youth in Africa achieve their potential. ¢atIng an Africa that leads Ihe world in ¢atIVity, social enlerpnse and selflessness. OVERVIEW OF THE WORK OF CHRYSALIS IN UGANDA, WHICH IS SUPPORTED BY CYEN Since its launch in 2012, CYEN has been working with Chrysalis. a non-governmental organisation INGOI in Uganda lo develop and expand the Butterfy Project set up for young people (aged 12-20 years) living In k)overty. It is a unique project designed to empower these young people to become the catalysts for community change and social entrepreneurs of the future. As well as Supporting the training of these young people, CYEN also identifies swnsors. who will cover the school fees for them lo receive secondary education. CYEN achieves Ils goals by covering the costs of three youth centres and one secondary school in Uoanda. one in a slum area of the capital. Kampala, orse al Koro In northern Uganda and one al the secondary school in Lagwe Dola in Omoro Distn"ct. These cenlres lone stationed at the secondary
school) provide leaming and fun activities for chiklren of all ages. and a training platform for those interested In creating change in their communities. with a special focus on athletics and board games. By connecting talented youth lo experts and social entrepreneurs in the UK and elsewhere, CYEN helps inspire youth and also raises awareness of the capabilities of youth in Africa. encouraging investment and policy changes in favour of a broader variety of practs.cal education in Africa. 2022 saw the full launch of the Chrysa115 Secondary School in Omoro District and CYEN sponsors noY4 70+ secondary school pupils to A level at the school. The rurally-l¢xated school offers a unique style of education. with multimedia lessons. entrepreneurial and hobby acts"vilies al weekends, coached sports, girls, and boys. empowerment Pfoiects. evening and weekend educats've films and a range of activities designed to help teach effective deci5ion-making. CYEN also supports several young people from the Butterfty Project in university and in 2022, our frst medical student was able lo graduate, alon9 Wlth an economist, who qualified as the best student in Uganda's lop university, Makerere and a Jouinalisl. More Butterfy trainees moved into courses of Law, ICT and Mass Communication in 2023. SERVICE DELIVERY IN UGANDA DURING 2023 During 2023, Chrysalis focused on improving and developing its school Dunn9 the year there were four major areas of aGtivity and development. These were.. The expansion of the Chrysalis Secondary School, which opened all classes up to A level, with around 140 students. The school also employed 24 leachefs and 8 ancillary staff and opened all year round to provide activities for local children during the holiday5 The Platinum Kids Alhlelics League continued lo flounsh. with 30 children sponsored al nearby Primary School Many are starting lo perft)rm at an International age group level. The 2023 Uganda Villa9e Boardgame Convention increased lo SOO attendees this year, demonstrating that we can handle those numbers al our school. Saturday activities al the schc)I grew exponentially in 2023, with a large variety of clubs Starting al the school. The Music Programme with Brass for Afra coftlinued, with the brass band being developed al the school. Flnanclal revlew 11 is the policy of the charity that unrestricted funds. which have not been designated for a specific use. should be maintained al a level equivalent to betsveen three and six month's expenditure The trustees consider that reserves at this level will ensure that. in the event of a significant drop in funding. they will be able to continue the charity'5 current aclivilies. whilst consideration is given lo ways in whith additional funds may be raised. The Iruslees have asse$$ed the major risks lo which the charity is exposed, and are satisfied that systems are In place lo miligale exposure lo the major risks. structure, governance and management The char1ty Is controlled by Its governing docuffnt. a deed of trust. and is conslituled as a charitsble trust. as defined by the Charities Act 2006 The trustees who served during the year and up lo the date of Signatu of the financial statements were.. D Bale c.oh C Foster
Dr D Taylor N Panter N Geaney None of the trustees has any beneficial interest in the chanty. Trustees are recruited by recommendation and interviewed at a gUlar board meeting. MANAGEMENT STRUCTURE STAFF The Charity Board are all volunteers. There are no paid stsff Funds are raised to support Chrysalis Uganda, a company Limited by guarantee and an NGO. whh operates the Butterfy Project and Chrysalis School in Uganda. VOLUNTEERS Many from the congregation of Small Heath Baptist Church. Ben Parkin50n acts on a voluntary basis for CYEN. providing accounling support, as well as liaising for thè trust in the UK and Uganda and Covordinating UK sponsors. DONORS AND INCOME GENERATION This year saw a continuation ol donation of items to Ihe project, such as antiques lo be sold lo generate income and items to be taken lo Uganda for use al the Centres and the school.. these included laptops, USB drive5. tablets. children's reading books. sports. equipment elc. We would like lo give special thanks lo all of the people who donated mney or equipment. Thanks also to Dr Christine Parkinson, who masleminded the EBay and car boot sales. which provided regular income to thè charity throughoul th& year. Thanks loo lo Matthew Leacock, the designer of the Pandemic board game. Paul Grogan of Gaming Rules for their support this yeaT with the board game developments that look place in Uganda, as well as hundreds of board garne players around the world who responded to our fundraisers. In addition, donations were received from many Indivua1s. both personal and from their organisations. The trustees, report was approved by the Board of Trustees. Christopher Foster Trustee Dated 27 January 2025
CHRYSALIS YOUTH EMPOWERMENT NETWORK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRYSALIS YOUTH EMPOWERMENT NETWORK I report to the trustees on my examination of the finanual statements of Chrysalis Youth Empowemienl Network Ilhe charity) fof the year ended 31 Decemter 2023. Responslbilltles and basls of r#port As the Iruslees of the charity you a responsible for the Pfeparalion of the finanoal statements in accordance with the requirements ol the Charitses Act 2011 Ilhe 2011 A1. I report In resped of my examination of the charity's financial ststements carried out under section 145 01 the 2011 Act. In carying out my examination I have followed all the applicable Direckn"ons given by Ihe Chanty Commission under section 14515llbl of the 2011 Act. Ind•pfrndent •xamlner's statemgnl Your attention 1s drawn lo the fact that the charity has Pfepafed financial st8lemonts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applic8ble In the UK 8nd Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities. Stolemenl of Recommended Praclice iued on 1 April 2005 which Is referred to In the extant regulations but has now been withdrawn understand that this has been done in order for financial statements to providè a true and fair vi6w In accordance with Generally Accepted Accounting Pradiee effective for r¢porting periods bèginnin9 on or after 1 January 2015. I have completed my examination. I confirm that no matters have ¢ome lo my attention in connection wlh the eX8minalion giving me cause lo believe that In any material respect.. accounting records were not kept in fespeet of the charity as required by seth'on 130 of the 2011 Act.. or the financial statements do It accord wth thosè recofds". or the financial slalemènts do nol comply th the applicable requiremènts conceming the fom and conlenl of accounts set out in the Charities IAccounls and Reports) Regulations 2008 olheT than any requirement that the accounts gwe a true arKI fair view whi¢h is not a matt•f considered a$ part ol an independent examination. I have no concems and have come across no other matters In ¢onnection wth the examination lo which attgnlion should bo dr8wn in thi5 report In order lo enable a Proper understanding ol the financial slalemenls lo be reached. Barrie Buels FCCA FCIE Creslmere Limited Unil F1. Inlec, Parc Menai Bangor LL57 4FG Dated.. 27 January 2025
CHRYSALIS YOUTH EMPOWERMENT NETWORK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrostrlctod Restrl¢t8d fijnds fvnds 2023 2023 Total Unr8strlcted RestrScted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies 156.982 12.582 169.564 147,495 51,983 199,478 Total Income 156,982 12,582 169,564 147.495 51,983 199,478 Expèndlture on.. Charitable adivilies 144.178 42.280 186,458 148.631 6.983 155.614 Total expendlture 144.178 42.280 186.458 148,631 6,983 155,614 Net Incom•llexpendltur•l and movemènt In funds 12.804 129.6981 116,8941 (1,1381 45.000 43.864 Reconclllotlon of funds: Fund balances al 1 January 2023 12,603) 45,( 42.397 {1.467} 11.4671 Fund balancgs at 31 December 2023 10.201 1 S.302 25.503 {2.6031 45.000 42,397 The slalernenl of financial activib.es in¢ludes all gains and Ios8es reco4ni8ed in the year. All income and expenditure aerlve from continuing activitie5.
CHRYSALIS YOUTH EMPOWERMENT NETWORK BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Current assets Cash at bank and in hand 28.253 42.897 Credltor¥.' amounts falllng due wlthln one year 12.7501 15001 Nèt current J¥¥et8 25,503 42,397 Tho funds of tho charlty Restricted income lunds Unrestricte¢J funds 15,302 10.201 45.000 12,6031 10 25,503 42.397 The financial 81alement$ were approved ty th¢ tNslees on 27 January 2025 Christopher Foster Trn$tfre
CHRYSALIS YOUTH EMPOWERMENT NETWORK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Cash flows from 0ratIng actlvltlgs Cash (absorbed byll9eneratèd from operations 13 114.644) 40,561 Net cash used In Investlng actlvltles Nfrt ¢4sh usod In flnanclng actlvlti Net Idecr•as•Vlncreas• In cash and cash equlvalents 114,644 40,581 Cash and cash equivalents at beginning of year 42.897 2,336 CJ¥h and cash •qul¥al8nts at ond of year 28,253 42.e97
CHRYSALIS YOUTH EMPOWERMENT NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies Charlty Infomiatlon Chrysalis Youth Empowerment Neork is eonsb"tuled as a charitsble trust. 1.1 Aceountlng convèntlon The financial statements have been prepared in accor¢Jance with the ch8rity'$ lgoveming documentl, the Charities Aet 2011, FRS 102 'The Financial Reporting Standard applicable in the UK ana Republic gf Ireland. I"FRS 102.1 and Ime Charities SORP 'AOuntr.ng and Reporting by Charilie$' Statement of Recornmended Practice applicable lo eharilies prepanng their accounts In accordan¢e vnlh the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021" leffeth've l January 20191. The charity Is a Publi Benefit Entity as defined by FRS 102 The charity has tsken advantage of the provisions in the SORP for charities not to prepofe a Statement ol Cash Flows. The financial statements are prepared in sleding. which is the functional currency of the charity. Monetary amounts in Ihe¥e financial statements are rounded to the nearest £. The financial slalemenls have been prepared urthr the historical cost conventson. The princip81 accounting policies adopted are set out below. 1.2 Golng conc•m Al the time of approving the financial statements. the Iruslees have a reasonable expectation that the eharily has adeqvale resources lo continue in operational existence lor the I0seeable future Thus the Iruslees continue lo adopt the going concem basis of accounting in prepanng the financial slatemenls. 1.3 Charltsble funds Unrestrieted lunds are available for use at the dixretson of the trustees in fvrthefance of their charitable objectives. Reslrictgd funds are subjeet to specffic conditions by ¢JOrrS or granlots as lo how they may be used. The purposes and uses of the restricted luThJs ar6 set oul in the notes lo the finanaal statements. Endowment funds are subj'ect lo $peufic condition8 by donors that the capital must b8 m8inlained by thè charity. 1.4 Incom• In¢ome is recognised when the charity is legally enlilled lo il after any perfomance conditions have been mel, the amount$ can be measured reliably. and It 15 probable that Income wll be received Cash donations are reco9nised on reeeipt. Other donation$ are recognised once the charity has been notified of the donation, unless pertormance conditions requi deferral ol the amgunl. Income tax recoverable in relation lo donats'ons received under GiftAid or deeds of covenant is recognised 81 the time of the donation. Legaoes are reco9nised on receipt or otherwise if the charity has been notified of an Impending dislribulion. the amount Is known, and re¢eipl is expected. If the 8moLmt is not known. the legacy is treated 88 a eontingenl assel.
CHRYSALIS YOUTH EMPOWERMENT NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 AccL)untlng pollclos {Contlnued> 1.5 Expendlture Expenditure is recognised on an accruals baws and includes any irrecoverable VAT. Expenditur¢ includes all costs to the chanty in furtherance of its aims for the benefit of ils beneficiaries and related support and governance costs. 1.6 Ca¥h and cash equlvalènts Cash and eash equivalents include eash in hand, deposits held al call banks. other short-lerrn liquid investments with original malunlies ol three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings In current liakn'lib"es. Basic flnancl•l assets 8asic financial assets. which Include debtors and eash and bank balances, are initially measured al transaction pnce including transaction costs and are subsequently carried al amortised cost using the effective 1nlerfjst method unless the affangernenl constitutes a financing transaction. %there thè Iransa¢lion is measured al Ihe present value of Ihe fulure Tecwms Oiswinted al a mathei fate of intwesl, Financial classified as receivable within one year are not amortised. 8•slc financlal Il•bllltles 8asi¢ financi81 Iiabililies. Including creditors and bank loans aw Initially reccJnised al transaction price unless the arrangement constilules a financing transaction, where the debt instrument is measured al the present value of the lulure payments discounted al 8 market rale of interest. Financial liabilibes classified as payable within one year ar¢ not amortised. Debt instruments are subsequently corried al amorb'sed cost. using the effectivo interest rale melhcd. Tradè creditors are obligats'ons lo pay for goods or servi¢es that have been acquired in the or(lin8ry courso 01 operations from suppliers. Amounts payable are dasfied as Cufrent liabilities if payrnenl is due within one year or less. If not. they a presented as non•currenl Iiabililies. Trade creditors are recognised Initially al transaction price ond subsequently measvred at 4mofb'swJ cost usng the effecb.ve interest method. Derncognltlon ol fln•ncl•l Ilablllties Financial Iiabililies are deTeco9nised Ihe thanty's conlTaclu•l obli9ation8 •X're or ar• th'scharged or cancelled. Crltlcal a¢countlng tImate8 and ludgements In the application of the tharity's accounting policies. the trustees are required to make judgements. estimates and assurnptions about the carying amount of assets and liabilities that are not readily apparent from other sources The estimates and associated assumption5 are based on historical experience and other factors that are considered to be relevanl. Actual results may differ from Ihese eslimales. The estimates 8nd underfying assumpb.ons are revievRd on an ongoing bas. Revigons to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or In the pefi(J of Ihe revision and lutuie periods where the revision affects both current and future periods.
CHRYSALIS YOUTH EMPOWERMENT NETWORK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income frorn donatlons and legaclg5 Unrestrlcted Restricted lunds funds 2023 2023 Totsl Unrestricted Restrlcted funds funds 2022 2022 Totsl 2023 2022 Donations and gifts 156.982 12,S82 169,564 147.495 51.983 199,478 Exp•ndltur• on ch•rltabl• actlvltles Hèadlng
ac982
2023 Hoadlng
ac982
2022 Dlrect Costs Chrysali5 Uganda co$t$ Other operating cost¥ Administration and travel Construction and development 140.288 1.120 2.770 42,280 144.142 475 4,014 6,983 186.458 155,614 An•ly818 by fund Unreslricled fund$ Restricted funds 144,178 42,280 148.631 6,983 186.458 155,614 Trust801 None of the trust5 received any remuneration or benefits from the charity during the year. Employees The average monthly numb6r ol employges dunng the year was". 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60,000. 10-
CHRYSALIS YOUTH EMPOWERMENT NETWORK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Taxatlon The charity is exempt from tsxation on rts actNth'es because all ts income is applied fLv chantable purposes. Cr9ditors.' amounts falllng duo w6thln on• year 2023 2022 Other creditors 2.750 500 Other creditors falling due within one year irtlude trustee and donor loans %thich are repayable on demarKI bul otherwise have no fixed repayment date. Restrf¢t•d funds The income lunds of the charity Include restricted luThJs comprising the followng unèxp8nded balances ol donations and grants held on INSI for specific purposes.. At 1 January 2023 Incomlng resource• Resources •xpend•d At31 D•cembèr 2023 Current assets 4S,000 12,582 142,2801 15.302 Prgvlous y•4r: At 1 January 2022 Incomlng rn•our¢ R•¥ources •xp•nd•d At31 Docomber 2022 Current assets 51.983 16,9831 45,000 10 Unr•strlcted funds The unre51ricled funds ol the eharity comprise the unexpended balances of donations and grants which are not subject lo spIfiC conditions by donors and grantors as to how they may be used. These include designated funds which have teen sel aside out of unrestncted funds ty the trustees for specific purposes At 1 J•nuary 2023 Incomlng Resources rMources exp•nded At31 December 2023 General funds 12.6031 156.982 1144,1781 10,201 11
CHRYSALIS YOUTH EMPOWERMENT NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 UnTostrlcled funds {C%)ntlnued) Prevlous year- At 1 January 2022 Incomlng resources Resources expended At31 December 2022 General funds 11.4671 147,495 {148,6311 12.6031 11 Analysls of n•t assots b•twwn fund• Unrestrlctsd funds 2023 Restrl¢t•d funds 2023 Totsl 2023 At 31 D•c8mber 2023: Current asselsl(liabililiesl 10.201 15,302 25.503 10,201 15,302 25,503 Unrestdctsd funds 2022 Restrfctod fund8 2022 Total 2022 At 31 Decembèr 2022: Current a5setsllliabililiesl 12.6031 45,000 42,397 12.6031 45.000 42.397 12 Rolatèd party transactlons The Trustees are aware of the importance of disclosure of related party Ironsactions lo enable readers of th accounts lo understand clearly how the charity operates. The charity's principal related party is Chrysalis Limited, an NGO registered in Uganda. Durtng the year the charity paid £140.255 12022 £151.1251 to Chrysalis lo further the charity's objectives as described In Ihe Trusleo$' Annual Report. As at the year end an amount of £2.25012022 - £5001 owed lo trustees for short term loans. The loans are non interest bearing and repayable on demand. The trustees are aware of no other related party Iransacts'ons. 12-
CHRYSALIS YOUTH EMPOWERMENT NETWORK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Cash generatèd from operatlons 2023 2022 (Deficilllsurpus for the year 116,8941 43,864 Movements in working capitsl". Ilncreaselldecrease in debtors Increaselldecreasel in ¢reditor8 1,150 14,4531 2,250 Cosh (absorbed byllgeneratod from operatlons 114,6441 40.561 13-