Rl(iHT TO SUCCEED WA ORT 11
In this report
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Structure &
Welcome Impact 2025 & Beyond
Governance
Legal & Independent
Financial Review Annual Accounts
Administrative Auditor’s Report
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Welcome
Welcome to Right to Succeed’s 2023/2024 Annual Report & Accounts, in this report we share our story, our impact and our progress for the last year.
We reflect on the performance of the final year of our 3 year organisation strategy, and unveil a summary of our brand new 5 year strategy highlights for 2024 and beyond.
To hear directly from children, young people, partners and families about the impact our work has had on them, visit the Impact Report 2023/24 or select a downloadable programme review, to deep dive into our progress in education, community and family services in the regions.
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A MESSAGE FROM OUR CHAIR
As chair of the charity, I’m delighted to present the following report as a summary of the what the charity, its partners and communities have achieved in 2023/24.
The scale and breadth of impact that we are seeing across our communities is a huge credit to all those involved in trying to improve the outcomes for children and young people and families. We are massively indebted to the funders and commissioners that bravely backed our community led approach to change.
This impact has led to significant demand for the charity’s work, with the organisation growing quickly and expanding into further areas, as it presents a vision of a more effective way of making change at a time when our country is having to face up to a significant deficit that is putting huge strain on our public sector services.
The Trustees have therefore worked with the executive to set a bold 5 year strategy for the charity that focuses on creating an unignorable critical mass of communities that are defining and delivering the change they need and want, demonstrating that community led change should become the norm rather than the exception.
On behalf of our Trustees, I hope you enjoy reading about the work of the charity.
Yours Sincerely
SUZANNE McCARTHY
Chair, Right to Succeed
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A MESSAGE FROM OUR CEO
2023/24 has been a year of significant growth for Right to Succeed, with us now serving 10 communities in the bottom 5% of the indices of multiple deprivation, impacting over 50,000 children and young people. This has seen our team and 179 local partners working together to meet the priorities set by these incredible communities. These partners are exceptional. Each community we serve has a completely unique set of partners from across education, community and public services that have worked to adapt their approach and their offer to the needs and wants of the community.
The challenge for us is to work to bring partners together to form a collective approach when the partners have so often been made to compete with each other, whether it’s for pupil/beneficiary numbers or funding/commissioning. So it brings a constant sense of joy to see how willing our partners are to work collectively to meet the priorities set by our communities. As Suzanne has mentioned, demand for our work, and community led change is scaling more generally and is growing quickly.
This raises the level of responsibility that we feel at Right to Succeed to continue to ensure that the quality of our work is constantly improving, making the case that this approach to change should become first choice when seeking to improve future outcomes for children and young people.
Yours Sincerely
GRAEME DUNCAN
CEO, Right to Succeed
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CREATING A FAIRER FUTURE
OUR STORY
Right to Succeed started in March 2015, as an organisation focused on the delivery of education programmes to improve literacy for children and young people, believing that literacy is the key to accessing the whole curriculum to improve future opportunities for those living in generational poverty. Over the last nine years working within different community settings our programme focus has developed and expanded along with our research and key learning. We now deliver programmes for children, young people, families and communities that focus on collective working across education, youth offers, and community offers.
OUR VISION
Every community is a strong and cohesive place where every child is supported to succeed
OUR MISSION
To support communities to collectively define, deliver and sustain the change they need and want for their children, young people and families.
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Our Values
Collaboration
We drive collaboration in everything we do, supporting our colleagues and partners to work better together by pooling resources, learning and experise. af
Commitment
We are committed to achieving only the best in the long-term for the children, young people and communities that we serve.
Curiosity
We ask questions, listen hard, and expect to be surprised by what we find. os
Integrity
All our work is guided by our values and mission; we are willing to have difficult conversations to ensure this, and use clear processes and decision-making mechanisms to hold ourselves accountable.
Humility We understand that the communities we work with are the key to developing solutions, and we are constantly learning from them.
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About us
This year our work in 7 delivery programmes led to 859 activities, and the consultations within our three discovery programmes gave us the opportunity to engage with over 2,277 children and young people, 188 adult residents and 35 practitioners* to ensure their voices were heard, to inform a bespoke programme for their community and begin our collective journey towards sustainable change.
We measure impact at three levels Children and Young People
Community around the child Systems Change ~~o~~
Delivery programme: A 3+ year programme to deliver the interventions and recommendations set during the Discovery programme. *Discovery Programme: A 6-12 month programme to research the requirements of a potential programme area.
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How we
Together with local residents, professionals and leaders we:
work
Who We Are
Right to Succeed supports communities in areas of high deprivation to work collectively to give children and young people the best start in life.
What We Do
We bring together residents, professionals and decisionmakers to co-design a 3-5 year programme that is bespoke to the needs of the local community. We call this community-led change.
Our work ultimately benefits children and young people by creating:
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Our Role
in Place-based Change Programmes
We are the backbone support organisation, working to help communities create sustainable place-based change. As the backbone we provide all of the following:
We establish the We work with the We build and We work to principles of place community strengthen influence the based change. through a robust partnerships balance of power change process in decision making It’s important to The approach to Place-based For place-based fully understand change should be change requires a change to be the community, underpinned by significant number sustainable, the and then build foundations of of effective community and trust and effective practice, partnerships across young people consensus upon but flexible to the the public, private need to be active priorities and the unique local and community participants in the way forward. context. sectors. decisions that We believe in We apply a We work with affect them. place-based collective impact local and national We support local change should be method to work partners to secure people to achieve research towards the long-term the change they informed, locally shared measures commitments, need, establishing led and of success and develop governance sustainably continually collaborative structures that designed. evaluate and solutions and increase refine our build capacity community approach. locally. participation in decision making.
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Where we’ve worked
Right to Succeed runs two different types of programme, with decisions on the approach being made based on the size, scope and need within an area. These are:
Cradle to Career programmes are local community based, usually within an area with less than 10K residents. Delivering across multiple themes such as Education, Youth Inclusion - Training and Employment, Youth Services and Family Support.
Thematic programmes operate across a larger area - e.g a whole local authority. Focusing on a particular theme of literacy, inclusion, post-16 education and employment.
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OUR YEAR IN NUMBERS
This year the organisation has achieved progress in all areas of delivery as well as growing our partnerships across our programmes. We are committed increasing our impact and the numbers below are the impact statistics.
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|---|---|---|
|13,109|39,693|
|52,802|
|Children and|Children and young|Total number of|
|young people|people were assessed|children and young|
|received or|or supported through|people that benefitted|
|accessed|school training|from delivery|
|interventions|interventions|programmes this year|
|(directly and indirectly)|
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OUR IMPACT 2023/2024 RIGHf TO SUCCEEO We measure Impact at three levels PORT 24 . , Systans Che ¥* RIGHT TO SUCCEED Read now O 14
PROGRAMME IMPACT REVIEWS
Cradle to Career Halton Lea Download ~~————~~ Cradle to Career North Birkenhead Download ~~—_——~~ Cradle to Career Northwood ~~ee~~ Download ~~ee~~ Download
KS3 Literacy Tameside ~~ee Be~~ NRThirty Central Great Yarmouth Download Pathways for All Blackpool Download Raising Rochdale Inclusion Download
Raising Rochdale Inclusion
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3 Year Strategy FY21-24 Review
Our 3 Year Strategy came to a close on August 31st 2024. Over the last 3 years Right to Succeed embarked on a journey of growth and change.
We’ve added more workstreams to our delivery programmes and continued to evolve as our communities’ needs changed, and we have constantly refined our practices throughout this strategy cycle to ensure we share the very best knowledge from the experiences we have had.
Our impact archive has more than doubled since 2021 and we are proud to showcase our incredible communities and the outcomes of the strategic priorities we have implemented to deliver our initial vision and mission.
Reflecting on the last year below is a summary of the progress made in each department in 23/24.
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Finance & Governance
Performance to 31st August 2024
As the current uncertain economic climate continues, it is important that we provide certainty for communities and local partners that we support. Therefore, the Trustees have set our reserves policy to having 4.5 months of next years’ planned budget in reserve by the start of that financial year to support charity growth. We have reached that target for the 2024/25 financial year, and are on track to have reached that target in time for the 2025/26 year.
Programmes
Performance to 31st August 2024
In 2023/24 we worked in 9 communities, with delivery programmes in 7 communities including 3 programmes operating across Liverpool City Region, 2 in Greater Manchester, 1 in Blackpool and 1 in Central Great Yarmouth. During 2023/24 we completed 2 discovery programmes, successfully leading to delivery funding in Sefton and St. Helens. This year also saw feasibility work ahead of a new discovery programme in Speke, further adding to our work across the Liverpool City Region.
People
Performance to 31st August 2024
During 2023/24 we stabilized our staff teams, ensuring we provided capacity in both our programmes teams and core functions and ended the year with a headcount of 41. Significant growth in people is planned for 2024/25 along with investment in our internal Learning & Development. Fundraising
Performance to 31st August 2024
We are incredibly privileged to have the supporters we have, and 2023/24 has seen another significant growth in income for the charity to almost £6m from a range of sources including philanthropic, statutory, and individual donors. The appetite to support community led change is continuing to grow and we are very fortunate to be able to bring such support to our communities.
Partnerships
Performance to August 31st 2024
The impact being achieved by our communities is delivered by an incredible of array of partners who broadly cover community, education and public sector service delivery. In the last year we have worked with 179 partners, and we expect this to rise to over 500 in the next 5 years. 74% of the total funds and co-commissioning we have raised is spent with these amazing partners.
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5 Year Strategy FY24-29 Where we are
In March 2025, Right to Succeed will be 10 years old. The charity’s journey to this point has seen us be constantly inspired and humbled by the amazing residents, professionals and leaders living and working in communities facing the greatest multiple deprivation. We have learned so much from them and the work we have done together over these 10 years. With this inspiration and learning in mind, our trustees asked us to set a bold 5 year strategy that would see us continuing to put more and more communities in control of defining and delivering the change they need and want, and making a stronger and stronger case for the wider system to allow collective, community-led approaches to social change to become the norm, rather than the exception. Our 5 year Strategy is explained in the following pages.
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Strategic Framework
We have been fortunate to have the support of Sarah Shapcott from Bain & Company, who supported us with the development of this strategy. With her support, we have structured our strategy in the following way: Shared vision and The areas of Actions, initiatives Shared goals which mission for the next and enablers opportunity we will we will use to know 5 years focus upon required to for our we have been charity to be successful successful w a
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Strategy FY24 - 29 Summary
Ambition
Vision: Every community is a strong and cohesive place where Mission: To support communities to collectively define, deliver and sustain the change every child is supported to succeed. they need and want for their children, young people and families.
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Where we will focus
Sustaining Impact
Programme Growth & Regional Reach Broadening our Thematics Sustaining Impact By 2029 we will reach twice the We will scale our Cradle to Career and existing thematic We will develop a support offer by September communities we do today, going from 10 work (literacy, inclusion, EET). We will broaden our 2026 to enable our communities to sustain to 20 communities. To do this we will range of thematic programmes to meet the demand collective working for the long term. This will lead establish a new regional model of delivery, from our communities, improving our coverage of the 7 to creating a network of Collective Communities seeking to broaden and deepen our work in IMD factors (income, employment, education, health, that continue to work together to deliver the existing regions, whilst expanding to 2 further crime, housing, living environment). change their communities need and want. regions. 21
Influencing Change
We will decide by September 2025 if we will work to develop a collective approach with key partners to creating wider system change. The focus would be on amplifying the voice of our communities, and arguing for them to have the right to define, deliver and sustain the change they need and want.
Enabling Local Backbones
For community led change to become more prevalent, more organisations will need to step into the backbone role. We will consider if we start to support other organisations to step into the backbone role in 2026/27.
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What we will need to succeed
Being Locally Led Building Partnerships Measuring Outcomes We will continually We will continue to learn and Impact improve our practice and from and build the capacity We will continue to programme design by of our 200+ partners across develop our approach leveraging the learnings the realms of local delivery, to monitoring, evaluating from our local funding, monitoring & and communicating communities and partners. evaluation, learning and outcomes and impact for influencing. We will do this our children & young through connecting the people, families and learning from our communities. We will also communities and likedevelop an approach to minded measuring impact at local, partners. regional and national system level.
Our Team Our Funding We will grow and We will broaden our develop our staff team mix of funding including introducing a across philanthropy, formalised Learning & statutory funding, Development offer and commissioning & coinvesting in the key commissioning, and systems they need to consider what role social do their work effectively. investment and We will work with our campaign based trustees to ensure we fundraising could play. have the breadth of skills and voice we need.
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How we will measure success
Scale and Reach
Scale to 20 communities across 5 regions and support 7 of our current 10 communities to sustain collective working for the long term.
Breadth of solutions
Meet a broader set of priorities from our communities, operating across the full range of factors driving multiple deprivation.
Outcomes & Impact
Improve the scale, breadth and communication of impact being achieved by our communities and be able to demonstrate the impact being achieved at local, regional and national system level.
Partnership Grow our partnership base to 500+ partners who recommend us as a partner of choice and are able to demonstrate the capacity they have gained from their partnership with us.
Our Team
Be considered an employer of choice with the systems, support and learning & development in place that our team need to be successful in their work with us and in their careers beyond.
Funding
Further broaden our funding sources, growing direct income to over £16million, giving our communities the resource they need to deliver their change.
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Structure & Governance •• ¥/ •+0. ••v• ••
Constitution
Right to Succeed was established as a Charitable Incorporated Organisation (CIO) with the Charity Commission England on 13 March 2015. The CIO's constitutional documents are its Articles of Association.
Organisation
Trustees can be appointed by ordinary resolution of the members.
The Trustees of the charity are given information on the roles and responsibilities of trustees of a UK charity and are invited to attend regular Trustee Training Workshops run by Buzzacott LLP and Bates Wells LLP. Trustees are regularly updated on Charity Commission best practice.
On becoming a Trustee, each Trustee goes through an induction process which includes meeting key members of the executive and reading core documents detailing our work and future plans.
Each Trustee aims to visit the work in schools or similarly informative events on the ground at least once a year.
The Trustees, who served throughout the financial year, except as stated below, were as follows:
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Trustee Appointed Term Ended or Resigned Ms Suzanne McCarthy (Chair) Ms Debi Bailey Ms Holly Baxter Mrs Alita Benson 10th October 2024 Ms Sarah Dembitz Ms Arshmeena Durrani Ms Julia Grant Ms Catherine Hodges Mr Michael Wells
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Key Management Personnel
The trustees consider that they comprise the key management personnel of the charity along with the Senior Management Team, which in 2023/24 was composed of the following individuals:
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Key Personnel Role
Graeme Duncan Chief Executive Officer
Paul O’Neill Deputy CEO
Rekha Patel-Harrison Chief Programmes Officer
Abbie Maher Director of HR and Operations
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Remuneration of the Chief Executive is set by the board. Remuneration of other senior managers is set by the Chief Executive and reviewed by the Finance Committee on behalf of the board.
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Trustees’ Responsibility Statement
The Trustees are responsible for preparing the Trustees’ report and account in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that year.
In preparing these accounts, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);
Make judgements and estimates that are reasonable and prudent;
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State whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions. 28
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Risk Management
The Trustees have reviewed the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity and its finances. The Trustees review the measures in place and establish policies, systems and procedures to minimise or manage any potential impact on the charity should those risks materialise. The principal risks and their main mitigations are as follows:
Strategic Risk
As our programmes grow in number and size we need to maintain the quality of what we deliver and build a sustainable future. We have a robust decision making process for new opportunities to ensure we understand and can manage the risks around funds, capability, capacity and stakeholders. We are considering what a long- term approach sustainable to collective working in a community could look like as part of our 5- year strategy.
Impact Risk
Our programmes span multiple years and by their nature, the desired outcomes are subject to a number of variables. We need to be able to demonstrate our impact to secure funding and to attract new programmes. All programmes apply our data driven Impact Measurement Framework and new programmes will have specific measurable outcomes that are baselined. We will continue to develop this framework, learning from existing programmes and working with funders to ensure the profile of our impact is understood.
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Delivery Risk
Planning and budgeting programmes over multiple years is challenging. Our methodology includes extensive pre-discovery and discovery work to ensure programmes are scoped properly, roles and responsibilities are understood and budgets and plans are realistic. Programme plans and risk registers are reviewed regularly.
Our team, whilst growing, is small and does not have the capacity to absorb significant absences, attrition or downtime between programmes. Historically, we have not been able to recruit for programmes before funding is secured, often close to the start date. We have invested in staff engagement, and learning and development to support retention, and continue to review recruitment to reduce the burden at critical times.
Funding Risk
The discontinuation of programme funding or insufficient funds to finance our core operations would prevent Right to Succeed from delivering its strategy. We aim to secure full funding in advance for each phase of our programmes and obtain co- commissioning from Local Authorities or similar to ensure local commitment. We regularly engage with commissioners and funders. The Finance Committee regularly reviews funding pipeline status and this is reported to the Board. Trustees are prepared to allocate a reasonable amount of unrestricted reserves when necessary to cover downtime between programmes or funded phases.
Trustees are concerned about the potential impact the high levels of inflation and the anticipated UK recession will have on both our own costs and the impact that this could have on our funders and their funding to us. We will be monitoring short term spend and modelling where increased prices could impact our programmes in the next 12-24 months and building these into our funding applications. We are including the impact of inflation in our conversations with existing funders.
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Partner Risk
We rely on third parties to help deliver the programmes; a failure by one or more partners could impact on our delivery and/or reputation. Partnership agreements are in place for all key functions in our programmes. Our partnerships function manages the partner process and coordinates across all programme partnerships.
Other significant risks that the Trustees monitor but consider currently less likely to arise given the mitigating controls in place are:
-Reputational management: Failure to manage serious untoward incidents of any kind resulting reputational damage.
-Data protection breach or a safeguarding concern
Having assessed the major risks, the Trustees are satisfied that the charity has taken actions to mitigate these risks to a tolerable level. The presence of regular monitoring of both programme and organisational objectives at Senior Executive and Board level helps identify any early indicators around the risks.
Fundraising
The charity’s fundraising is largely focused on engaging with trusts, foundations and other grantmaking institutions. We do receive a small number of donations from individuals but we have not made any fundraising appeals to the general public to date.
The charity is registered with the Fundraising Regulator and undertakes regular reviews of the Regulator’s Code of Fundraising Practice, and endeavours to keep abreast of changes in legislation, regulation and best practice in fundraising. The charity received no complaints from donors or members of the public about its fundraising practices this year.
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nancia 32 VTT
Results for the Year FY23-24
The net income for the year was £1,371,372 (2023 - £438,529). The charity’s total income increased by 75% to £5,871,648 (2023 - £3,345,554) which consisted mainly of donations and grants. £4,228,473 of this was spent on charitable activities (2023 - £2,634,392) while £271,803 (2023 - £272,653) was spent on raising income.
The amount of voluntary income raised for the year increased by 39% to £3,347,111 (2023 - £2,412,821) of which £2,530,895 (2023 - £1,510,158) was restricted. £816,216 (2023 - £904,663) of voluntary income raised was unrestricted and was spent on supporting the programmes described above, as well as on design and planning of the programmes for future periods, fundraising and our core costs of running the organisation.
Due to a delayed start to our delivery in our new programmes our restricted funding carried forward has increased to £942,573 (2023 - £395,815). The delivery will take place over the remainder of the programmes funding period.
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Reserves policy and financial position
The charity maintains an unrestricted reserve from which core and programme activities are funded in line with the approved annual plan and budget. As at 31 August 2024 the charity had a total reserve of £3,645,561 (2023 - £2,274,189) and unrestricted reserves of £2,702,988 (2023 - £1,878,374).
The reserves policy, set in June 2023, sets out that the charity aims to have a total reserve of between 3-6 months of total expenditure at any time, with the charity aiming to finish any financial year with 4.5 months of reserve when compared to the budget if the charity is to take on further growth in the next financial year.
The charity also seeks to ensure that its unrestricted reserve never falls below 3 months of the charity’s annual salary costs. The range is currently calculated as £1.82m to £3.64m based on the 2024/25 approved budget and plan. The current level of total reserve falls within this range, and the charity is significantly ahead of its unrestricted reserve target, so trustees are comfortable with the charity taking on further growth in 2024/25.
Approved by the trustees and signed on their behalf by:
Suzanne McCarthy
Chair of Trustees Approved by the trustees on 11th March 2025
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Statement of financial activities Year ended 31 August 2024
| Notes | Unrestricted funds £ |
Unrestricted funds |
Restricted funds £ |
2024 Total funds £ |
Unrestricted funds £ |
Restricted funds £ |
2023 Total funds £ |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income from: | |||||||||||||
| Donations | 1 | 816,216 | 216 | 2,530,895 | 3,347,111 | 904,663 | 1,510,158 | 2,414,821 | |||||
| Charitable activities | 2 | — | 2,443,396 | 2,443,396 | — | 911,856 | 911,856 | ||||||
| Investment Income | 58,614 | 614 | — | 58,614 | 18,561 | — | 18,561 | ||||||
| Other income | 22,527 | 527 | — | 22,527 | 316 | — | 316 | ||||||
| Total income | 897,357 | 357 | 4,974,291 | 5,871,648 | 923,540 | 2,422,014 | 3,345,554 | ||||||
| Expenditure on: | |||||||||||||
| Raising funds | 13,092 | 092 | 258,711 | 271,803 | 272,633 | — | 272,633 | ||||||
| Charitable activities | 3 | 59,651 | 651 | 4,168,822 | 4,228,473 | 149,606 | 2,484,786 | 2,634,392 | |||||
| Total expenditure | 72,743 | 743 | 4,427,533 | 4,500,276 | 422,239 | 2,484,786 | 2,907,025 | ||||||
| Net income (expenditure) for the year and net current movement in funds |
824,614 | 614 | 546,758 | 1,371,372 | 501,301 | (62,772) | 438,529 | ||||||
| Reconciliation of funds | |||||||||||||
| Fund balances brought forward at 1 September 2023 |
1,878,374 | 395,815 | 2,274,189 | 1,377,073 | 458,587 | 1,835,660 | |||||||
| Fund balances carried forward at 31 August 2024 |
2,702,988 | 2,702,988 | 942,573 | 3,645,561 | 1,878,374 | 395,815 | 2,274,189 |
All of the charity’s activities derived from continuing operations during the above financial periods.
The charity has no recognised gains and losses other than those shown above.
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Company number 08689873
Balance Sheet As at 31 August 2024
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2024 2024 2023 2023
Notes £ £ £ £
Fixed assets eett 8 |eee nn | — | | —
Current assets a
Cash at bank tt| nn 2,962,535 | | 2,200 | ,056
Debtors 9 969,249 342,815
3,931,784 2,542,871
——
Creditors: amounts falling due
within one year 10 (286,223) (268,682)
{|f of of) f
Net current assets 3,645,561 2,274,189
——
Total net assets || 3, I 645,561 | | 2,274,189
The funds of the charit ——— y
Funds and reserves |tn | I | I |
Unrestricted funds 2,702,988 1,878,374
Restricted funds 11 942,573 395,815
Total funds ———— 3,645,561 2,274,189
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Trustee
Suzanne McCarthy Chair of Trustees
Approved on 11.03.2025
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Statement of cash flows Year ended 31 August 2024
| Notes | 2024 £ |
2023 £ |
|
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net cashprovided byoperatingactivities | A | 762,479 | 242,699 |
| Change in cash and cash equivalents in theyear | 762,479 | 242,699 | |
| Cash and cash equivalents at 1 September 2023 | B | 2,200,056 | 1,957,357 |
| Cash and cash equivalents at 31 August 2024 ~~os~~ |
B ~~os~~ |
2,962,535 ~~os~~ |
2,200,056 ~~os~~ |
Notes to the statement of cash flows for the year to 31 August 2024.
A Reconciliation of net movement in funds to net cash provided by operating activities
| 2024 £ |
2023 £ |
|
|---|---|---|
| Net movement in funds(asper the statement of financial activities) | 1,371,372 | 438,529 |
| Adjustments for: | ||
| Depreciation charge | — | 998 |
| Increase in debtors | (626,434) | (97,548) |
| Increase(decrease)in creditors | 17,541 | (99,280) |
| Net cashprovided by operating activities | 762,479 | 242,699 |
B Analysis of cash and cash equivalents 2024 2023 £ £ Cash at bank and in hand 2,962,535 2,200,056 Total cash and cash equivalents 2,962,535 2,200,056 ~~——~~
No separate statement of changes in net debt has been prepared as there is no difference between the movements in cash and cash equivalents and movement in net cash (debt).
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Principal accounting policies Year ended 31 August 2024
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.
Basis of preparation
These statutory financial statements have been prepared for the year ended 31 August 2024.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded to the nearest pound.
Critical accounting estimates and areas of judgement
Preparation of the financial statements requires the trustees to make significant judgements and estimates.
The items in the accounts where these judgements and estimates have been made include:
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♦ Allocation of support costs based on estimated staff time spent on each activity; and
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♦ Estimating the value of donated services.
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Principal accounting policies Year ended 31 August 2024
Assessment of going concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect of a period of one year from the date of approval of these financial statements.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the financial statements are detailed above. With regard to the next accounting period, the year ending 31 August 2025, the most significant area that affects the carrying value of the assets held by the charity is the level of donations income achieved (see the risk management section of the trustees’ report for more information).
39
Principal accounting policies Year ended 31 August 2024
Income
Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.
Income comprises donations, income received from local/national government for delivery of charitable activities, investment income and other income.
Donations
Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Income from charitable activities
This includes income charged to deliver our charitable services, including contracts and performance-related grants which have conditions that specify the provision of particular services by the charity.
Income from such contracts and grants is recognised to the extent the charity is entitled to receipt based on the services delivered and is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the funder has specified that the income is to be expended in a future accounting period.
Donated services
Services donated include provision of legal advice and specialist consultancy. This is recognised as income in the period in which the advice or service was provided based on the value to the charity, which for the most part is the comparable market value. An equivalent amount is
40
Principal accounting policies Year ended 31 August 2024
recognised in the same period as an expense in the relevant section of the Statement of Financial Activities.
Expenditure and the basis of apportioning costs
Expenditure is included in the statement of financial activities when incurred and includes attributable VAT which cannot be recovered. Expenditure comprises the following:
-
a. Expenditure on raising funds relates mainly to costs of staff time spent on raising funds and awareness of the organisation and the planned programme activities.
-
b. Expenditure on charitable activities in deliverance of the objectives set out in the Trustees’ report relate mainly to costs of staff time and travel and payments to our collaborative partners.
-
c. Support costs relate to the costs of governance, IT, finance and other activities involved in managing the organisation. These have been allocated to activities based on estimates of the number of FTE staff engaged in each activity.
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability. They have been discounted to the present value of the future cash payment where such discounting is material. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are
41
Principal accounting policies Year ended 31 August 2024
recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.
Fixed assets
Fixed assets costing £1,500 or more are capitalised on the balance sheet and depreciated on a straight line basis over their useful economic life (UEL).
| (UEL). | |
|---|---|
| Class of asset | UEL |
| IT equipment | 3 years |
Subsidiaries
Right to Succeed CIO has one wholly owned subsidiary, Right to Succeed Limited (company registration 08689873). The subsidiary is currently dormant, and has therefore not been consolidated into these financial statements.
Pensions
Contributions in respect of the charity’s defined contribution pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity’s contributions are restricted to the contributions disclosed in note 6. There were no outstanding contributions at the year end. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.
42
Notes to the financial statements Year ended 31 August 2024
1 Donations
| Donations | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| funds | funds | 2024 | ||||
| £ | £ | £ | ||||
| Donations | 21,730 | — | 21,730 | |||
| Grants | 794,486 | 2,530,895 | 3,325,381 | |||
| 2024 Total funds | 816,216 | 2,530,895 | 3,347,111 | |||
| Unrestricted | Restricted | |||||
| funds | funds | 2023 | ||||
| £ | £ | £ | ||||
| Donations | 25,145 | — | 25,145 | |||
| Grants | 878,668 | 1,510,158 | 2,388,826 | |||
| Donated services | 850 | — | 850 | |||
| 2023 Totalfunds | 904,663 | 1,510,158 | 2,414,821 |
Donated services in 2023 comprised communications advice from Jayne Moore PR.
2 Income from charitable activities
| Income from charitable activities | |||||
|---|---|---|---|---|---|
| Unrestricted funds £ |
Restricted funds £ |
2024 £ |
|||
| Programmes: | |||||
| - Halton Lea |
— | 438,404 | 438,404 | ||
| - Northwood |
— | 405,638 | 405,638 | ||
| - Norfolk |
— | 674,968 | 674,968 | ||
| - Sefton & St Helens |
— | 180,494 | 180,494 | ||
| - Rochdale |
— | 332,579 | 332,579 | ||
| - Tameside |
— | 282,913 | 282,913 | ||
| Other | — | 128,400 | 128,400 | ||
| Total | — | 2,443,396 | 2,443,396 |
| Unrestricted funds £ |
Restricted funds £ |
2023 £ |
|||
|---|---|---|---|---|---|
| Programmes: | |||||
| - Blackpool |
— | 15,500 | 15,500 | ||
| - Halton Lea |
— | 134,247 | 134,247 | ||
| - Northwood |
— | 103,443 | 103,443 | ||
| - Norfolk |
— | 372,489 | 372,489 | ||
| - Rochdale |
— | 186,074 | 186,074 | ||
| - Sefton & St Helens |
— | 19,503 | 19,503 | ||
| Other | — | 80,600 | 80,600 | ||
| Total | — | 911,856 | 911,856 |
Income from Charitable activities has increased from £911,856 in 2023 to £2,443,396 in 2024. This is due to the addition of 2 new delivery programmes in 2024 and full years for 3 existing programmes which commenced part way through 2023.
43
Notes to the financial statements Year ended 31 August 2024
4 Support costs
==> picture [409 x 295] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Advocacy and|
|Raising|Data|communicating|
|funds|Programmes|Projects|our work|2024|
|£|£|£|£|£|
|||
|IT and communications|9,185|51,268|1,410|2,777|64,640|
|||ri(_—“‘i‘iYsinn|||||(RR|||OR|||
|Financial administration|12,127|67,686|1,861|3,666|85,340|
|||rrr|effffe|rfff|
|Governance (note 5)|8,797|70,765|1,350|2,660|83,572|
|Other|415,558|
|82,513|12,665|24,945|536,581|
||||||
||ne|112,622|||nn|605,277|||17,286|||34,048|||769,233|
|Advocacy and|
|Raising|Data|communicating|
|funds|Programmes|Projects|our work|2023|
|£|£|£|£|£|
|fC|rrrrr—“(—s————SYff|
|IT and communications|5,115|39,055|3,829|6,382|54,381|
|||rr|ef|df|df|fl|
|Financial administration|8,526|32,546|3,190|5,318|49,580|
|||ri|ti‘|df|
|Governance (note 5)|9,302|39,533|3,488|5,814|58,137|
|||rr|ef|df|df|fl|
|Other|45,259|149,235|15,016|25,032|234,542|
|||rrr|rrr|ef|fe|df|
|Fn|68,202|||(Rn|260,369|| RR|25,523|||42,546|396,640|
----- End of picture text -----
All support costs are allocated based on staffing on each activity.
The increase in 2024 is due to the increase in the number of programmes and the increase in the number of support staff to service those programmes.
5 Governance costs
==> picture [410 x 142] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2024|2023|
|£|£|
|nF|
|PO|Audit fee|eeeeeeeeeseaesesesaesesa(ai‘itte|16,800|9,920|
|Under accrued 2023 Audit Fee|I|6,562|0|—|
|Le|I|gal fees|0|1,800|6,852|
|Trustee meetin|Pees|gs and travel|aes|4,967|370|
|Other Professional Fees|Pee|4,686|—|
|Insurance|Peeaes|aes|a|ese|4,557|3,861|
|Staff costs|Pee|44,200|37,134|
|0|0|83,572|fe|58,137|
----- End of picture text -----
44
Notes to the financial statements Year ended 31 August 2024
6 Employee and key management remuneration
Summary
Staff costs during the year were as follows:
2024 2023 £ £ Wages and salaries 1,686,014 1,305,297 Social security costs 184,317 141,481 Pension contributions 130,661 107,782 2,000,992 1,554,560 ~~——==~~ Staff numbers The average number of staff employed during the year on a headcount basis was 39.2 (2023 – 33.8). The average number of employees during the year, calculated on a full time equivalent basis (FTE), analysed by function, was as follows: 2024 2023 £ £ Raising funds 2 3 Charitable activities 27 20 Core management and support 10 8 39 31 ~~—~~ Higher paid employees and remuneration of key management personnel 2024 2023 £ £ £90,001 to £100,000 1 — £80,001 to £90,000 — 1 £70,001 to £80,000 1 1 £60,001 to £70,000 2 1 4 3 ~~—~~ 45
Notes to the financial statements Year ended 31 August 2024
The key management personnel of the charity are the trustees along with the Senior Executive Team. The trustees do not receive remuneration. The total employee benefits including National Insurance contributions of the key management personnel of the charity were £447,003 (2023 – £401,351). The increase in 2024 is due to salary increases and an additional member of the Executive Team.
No trustee received any remuneration for the period in which they served as a trustee. 9 Trustees claimed expenses for the period in which they served as a trustee totalling £4,967 (2023 - 9 Trustees claimed expenses totalling £370).
The charity purchased Trustees’ indemnity insurance at a cost of £1,055 (2023 – £942) for the year. The policy provides indemnity for the Trustees and professional liability to a limit of £2,000,000.
7 Taxation
Right to Succeed CIO is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
8 Fixed assets
IT Equipment £ ~~|~~ Total cost at 1 Se ~~a~~ ptember 2023 ~~|~~ 5,541 Dis ~~|~~ posal of Fixed Assets (5,541) Total cost at 31 Au ~~|~~ gust 2024 — ~~a|~~ Accumulated de ~~|~~ preciation at 1 September 2023 (5,541) Dis ~~|~~ posals 5,541 Accumulated de ~~a~~ preciation at 31 August 2024 ~~| |~~ Net book value at 31 Au ~~|~~ gust 2023 — Net book value at 31 Au ~~|~~ gust 2024 —
46
Notes to the financial statements Year ended 31 August 2024
9 Debtors
| Debtors | Debtors |
|---|---|
| 2024 Total funds £ 2023 Total funds £ Accounts receivable 10,882 53,500 Prepayments and accrued income 156,167 104,013 Grants Receivable 793,599 175,274 Other debtors 8,601 10,028 969,249 342,815 ~~—z~~ |
|
| Grants receivable comprise: | |
| 2024 Total funds £ 2023 Total funds £ Liverpool CityRegion 249,181 175,274 Department for Education 544,418 — 793,599 175,274 ~~=~~ |
|
| 47 |
Notes to the financial statements Year ended 31 August 2024
Creditors: amounts falling due within one year
| Creditors: amounts falling due within one yearg due within one year due within one year | |||
|---|---|---|---|
| 10 | Creditors: amounts falling due within one yearg due within one year due within one year | ||
| 2024 Total funds £ 2023 Total funds £ Accountspayable 108,877 96,747 Taxation and Social Security 1,208 9,093 Accruals and deferred income 159,567 148,783 Other creditors 16,571 14,059 286,223 268,682 ~~a~~ |
|||
| Movement in deferred income | |||
| £ Deferred income at 1 September 2023 50,000 Income released duringtheyear (50,000) Income received and deferred 75,000 Deferred income at 31 August 2024 75,000 ~~—~~ |
|||
| Deferred income is National Lottery funding received in August 2024 for programmes commencing | |||
| September 2024. Parr £25,000, Linacre £25,000 and Speke £25,000 |
11 Restricted funds
The income funds of the Charity include restricted funds comprising the following unexpended balances of donations held to be applied for specific purposes:
| At 1 September 2023 £ |
Income £ |
Expenditure £ |
At 31 August 2024 £ |
|||||
|---|---|---|---|---|---|---|---|---|
| Northwood | 11,597 | 807,294 | (753,929) | 64,962 | ||||
| Halton Lea | — | 632,041 | (659,445) | (27,404) | ||||
| Blackpool | 2,501 | 356,351 | (352,884) | 5,968 | ||||
| Cradle to Career(North Birkenhead) | 89,827 | 972,367 | (841,548) | 220,646 | ||||
| Sefton & St Helens | 13,300 | 230,494 | (243,794) | — | ||||
| Norfolk | 189,293 | 764,967 | (637,228) | 317,032 | ||||
| Rochdale | — | 492,579 | (385,793) | 106,786 | ||||
| Tameside | — | 282,913 | (278,426) | 4,487 | ||||
| CapacityBuilding– othergrants | — | 51,886 | (51,886) | — | ||||
| Place Matters | 89,297 | 383,399 | (222,600) | 250,096 | ||||
| 395,815 | 4,974,291 | (4,427,533) | 942,573 |
48
Notes to the financial statements Year ended 31 August 2024
11 Restricted funds (continued)
| Restricted funds(continued) | ||||||||
|---|---|---|---|---|---|---|---|---|
| At 1 September 2022 £ |
Income £ |
Expenditure £ |
At 31 August 2023 £ |
|||||
| ~~a~~ | ~~a~~ | ~~a~~ | ~~a~~ | ~~a~~ | ~~a~~ | ~~a~~ | ~~a~~ | ~~a~~ |
| Preventing exclusions (Reach, Big Lottery Fund Grant) - Legacy ~~a~~ ~~Po~~ |
~~a~~ | 26,695 ~~a~~ |
~~a~~ | — ~~a~~ |
~~a~~ | (26,695) ~~a~~ |
~~a~~ | — ~~a~~ |
| Northwood ~~Po~~ ~~eeeeeaesesai‘ieetld~~ ~~Po~~ ~~———es—‘“‘“‘iaizr~~ |
~~eeeeeaesesai‘ieetld~~ ~~———es—‘“‘“‘iaizr~~ |
— ~~eeeeeaesesai‘ieetld~~ |
~~eeeeeaesesai‘ieetld~~ | 268,535 ~~eeeeeaesesai‘ieetld~~ ~~ff~~ |
~~eeeeeaesesai‘ieetld~~ ~~ff~~ |
(256,938) ~~eeeeeaesesai‘ieetld~~ ~~ff~~ |
~~eeeeeaesesai‘ieetld~~ ~~ff~~ |
11,597 ~~eeeeeaesesai‘ieetld~~ ~~ff~~ |
| Halton Lea ~~Po~~ ~~Po~~ ~~———es—‘“‘“‘iaizr~~ ~~Pie—(‘“‘<;zw~~ |
~~———es—‘“‘“‘iaizr~~ ~~e—(‘“‘<;zw~~ |
— | 209,022 ~~ff~~ ~~mr~~ |
~~ff~~ ~~mr~~ |
(209,022) ~~ff~~ |
~~ff~~ | — ~~ff~~ |
|
| Blackpool ~~Po~~ ~~———es—‘“‘“‘iaizr~~ ~~Pie—(‘“‘<;zw~~ ~~Po~~ |
~~———es—‘“‘“‘iaizr~~ ~~e—(‘“‘<;zw~~ |
12,500 | 360,944 ~~ff~~ ~~mr~~ |
~~ff~~ ~~mr~~ |
(370,943) ~~ff~~ |
~~ff~~ | 2,501 ~~ff~~ |
|
| Cradle to Career(North Birkenhead) ~~Pi e—(‘“‘<;zw~~ ~~Po~~ ~~eeeeeaesesai‘ieetld~~ ~~FP~~ ~~—(es—(‘“‘<‘<;zr~~ |
~~e—(‘“‘<;zw~~ ~~eeeeeaesesai‘ieetld~~ ~~es—(‘“‘<‘<;zr~~ |
306,860 ~~eeeeeaesesai‘ieetld~~ ~~df~~ |
~~eeeeeaesesai‘ieetld~~ ~~df~~ |
692,449 ~~mr~~ ~~eeeeeaesesai‘ieetld~~ ~~df~~ |
~~mr~~ ~~eeeeeaesesai‘ieetld~~ |
(909,482) ~~eeeeeaesesai‘ieetld~~ |
~~eeeeeaesesai‘ieetld~~ | 89,827 ~~eeeeeaesesai‘ieetld~~ |
| Wirral Weekenders ~~Po~~ ~~FP~~ ~~—(es—(‘“‘<‘<;zr~~ ~~Po~~ ~~Po~~ |
~~es—(‘“‘<‘<;zr~~ | 570 ~~df~~ |
~~df~~ | — ~~df~~ ~~rd~~ |
~~rd~~ | (570) ~~rd~~ |
— | |
| Sefton & St Helens ~~FP~~ ~~—( es—(‘“‘<‘<;zr~~ ~~Po~~ ~~eeeeaiaesesai‘i‘ieettlrd~~ ~~Po~~ ~~PF~~ |
~~es—(‘“‘<‘<;zr~~ ~~eeeeaiaesesai‘i‘ieettlrd~~ |
— ~~df~~ ~~eeeeaiaesesai‘i‘ieettlrd~~ |
~~df~~ ~~eeeeaiaesesai‘i‘ieettlrd~~ |
69,503 ~~df~~ ~~eeeeaiaesesai‘i‘ieettlrd~~ ~~rd~~ ~~lr~~ |
~~eeeeaiaesesai‘i‘ieettlrd~~ ~~rd~~ ~~lr~~ |
(56,203) ~~eeeeaiaesesai‘i‘ieettlrd~~ ~~rd~~ ~~lr~~ |
~~eeeeaiaesesai‘i‘ieettlrd~~ |
13,300 ~~eeeeaiaesesai‘i‘ieettlrd~~ |
| Norfolk ~~Po~~ ~~Po~~ ~~—(_e—(‘“‘<‘zmP~~ ~~PF~~ ~~Po~~ |
~~—(_e—(‘“‘<‘zmP~~ |
17,096 ~~—(_e—(‘“‘<‘zmP~~ ~~ef~~ |
~~—(_e—(‘“‘<‘zmP~~ ~~ef~~ |
381,489 ~~rd~~ ~~—(_e—(‘“‘<‘zmP~~ ~~lr~~ ~~ef~~ ~~rd~~ |
~~rd~~ ~~—(_e—(‘“‘<‘zmP~~ ~~lr~~ ~~rd~~ |
(209,292) ~~rd~~ ~~—(_e—(‘“‘<‘zmP~~ ~~lr~~ ~~rd~~ |
~~—(_e—(‘“‘<‘zmP~~ |
189,293 ~~—(_e—(‘“‘<‘zmP~~ |
| Rochdale ~~Po~~ ~~PFr——(i‘<i<i<zrrst~~ ~~Po~~ |
~~r——(i‘<i<i<zrrst~~ | — ~~r——(i‘<i<i<zrrst~~ ~~ef~~ |
~~r——(i‘<i<i<zrrst~~ ~~ef~~ |
186,074 ~~rd~~ ~~lr~~ ~~r——(i‘<i<i<zrrst~~ ~~ef~~ ~~rd~~ |
~~rd~~ ~~lr~~ ~~r——(i‘<i<i<zrrst~~ ~~rd~~ |
(186,074) ~~rd~~ ~~lr~~ ~~r——(i‘<i<i<zrrst~~ ~~rd~~ |
~~r——(i‘<i<i<zrrst~~ | — ~~r——(i‘<i<i<zrrst~~ |
| Capacity Building – othergrants ~~PFr——(i‘<i<i<zrrst~~ ~~Po~~ ~~eeeeeeaiaesesai‘ieetld~~ ~~Poie—(‘“‘<‘<;zresi~~ |
~~r——(i‘<i<i<zrrst~~ ~~eeeeeeaiaesesai‘ieetld~~ ~~e—(‘“‘<‘<;zresi~~ |
49,769 ~~r——(i‘<i<i<zrrst~~ ~~ef~~ ~~eeeeeeaiaesesai‘ieetld~~ ~~e—(‘“‘<‘<;zresi~~ ~~fe~~ |
~~r——(i‘<i<i<zrrst~~ ~~ef~~ ~~eeeeeeaiaesesai‘ieetld~~ ~~fe~~ |
70,371 ~~lr~~ ~~r——(i‘<i<i<zrrst~~ ~~ef~~ ~~rd~~ ~~eeeeeeaiaesesai‘ieetld~~ ~~fe~~ |
~~lr~~ ~~r——(i‘<i<i<zrrst~~ ~~rd~~ ~~eeeeeeaiaesesai‘ieetld~~ |
(120,140) ~~lr~~ ~~r——(i‘<i<i<zrrst~~ ~~rd~~ ~~eeeeeeaiaesesai‘ieetld~~ |
~~r——(i‘<i<i<zrrst~~ ~~eeeeeeaiaesesai‘ieetld~~ |
— ~~r——(i‘<i<i<zrrst~~ ~~eeeeeeaiaesesai‘ieetld~~ |
| Place Matters ~~Po~~ ~~Poie—(‘“‘<‘<;zresi~~ ~~PO~~ ~~eeeesesaisrfet~~ |
~~e—(‘“‘<‘<;zresi~~ ~~eeeesesaisrfet~~ |
45,097 ~~ef~~ ~~e—(‘“‘<‘<;zresi~~ ~~fe~~ ~~eeeesesaisrfetff~~ |
~~ef~~ ~~fe~~ ~~ff~~ |
183,627 ~~ef~~ ~~rd~~ ~~fe~~ ~~ff~~ |
~~rd~~ ~~ff~~ |
(139,427) ~~rd~~ ~~ff~~ |
~~ff~~ | 89,297 ~~ff~~ |
| ~~Poi e—(‘“‘<‘<;zresi~~ ~~PO~~ ~~eeeesesaisrfet~~ |
~~e—(‘“‘<‘<;zresi~~ ~~eeeesesaisrfet~~ |
458,587 ~~e—(‘“‘<‘<;zresi~~ ~~fe~~ ~~eeeesesaisrfetff~~ |
~~fe~~ ~~ff~~ |
2,422,014 ~~fe~~ ~~ff~~ |
~~ff~~ | (2,484,786) ~~ff~~ |
~~ff~~ | 395,815 ~~ff~~ |
Northwood is funded by Liverpool City Region, Bank of America, the Steve Morgan Foundation and SHINE Trust and by the National Lottery. Funds held at year end will be applied in 2024/25
Halton Lea is funded by Liverpool City Region, Allen & Overy, the Steve Morgan Foundation and SHINE Trust and by the National Lottery. Funds held at year end will be applied in 2024/25
Blackpool is funded by Big Change, Youth Futures Foundation, Stone Family, John Laing and Dulverton Trust. Funds held at year end will be applied in 2024/25
Cradle to Career in Birkenhead is funded by the Steve Morgan Foundation and SHINE Trust. Funds held at year end will be applied to delivery of Year 5 of the programme in 2024/25.
Sefton & St Helens is funded by the Steve Morgan Foundation and SHINE Trust and the National Lottery.
Norfolk is funded by John Laing, Norwich Freemans, The Youth Endowment Fund and The National Lottery. Funds held at year end will be applied in 2024/25.
Rochdale is funded by Rochdale Borough Council, John Laing, KPMG, Garfield Weston and The Department for Education. Funds held at year end will be applied in 2024/25
Tameside is funded by The Department for Education. Funds held at year end will be applied in 2024/25
Capacity Building is funded by a grant from the Fidelity Foundation for development of the charity’s programmes, data analysis and evaluation in readiness for expansion to new areas.
49
Notes to the financial statements Year ended 31 August 2024
11 Restricted funds (continued)
Place Matters is a venture resulting from Project Place, a project managed by Right to Succeed from 2020/21 to develop the idea of a centre for place-based change in the UK. Place Matters is delivered by a team of consultants and will be incubated by Right to Succeed until it has its own legal entity (expected in the next 12 months). It is treated as a Programme for which the trustees are accountable and all income and expenditure relating to it is recorded as restricted. Any balance of restricted funds will be transferred to the Place Matters entity once it is established.
12 Analysis of net assets between funds
| Unrestricted funds £ Restricted funds £ At 31 August 2024 £ Fund balances at 31 August 2024 are represented by: Current assets 2,787,514 1,144,270 3,931,784 Creditors: amounts fallingdue within oneyear (84,526) (201,697) (286,223) Total net assets 2,702,988 942,573 3,645,561 ~~=—====~~ |
|---|
| Unrestricted funds £ Restricted funds £ At 31 August 2023 £ Fund balances at 31 August 2023 are represented by: Current assets 1,994,391 548,480 2,542,871 Creditors: amountsfalling due within oneyear (116,017) (152,665) (268,682) Total net assets 1,878,374 395,815 2,274,189 ~~—====~~ |
| Operating lease commitments |
| At 31 August 2024, the charity’s future minimum lease payments under non- |
| cancellable operating leases were as follows: |
13 Operating lease commitments
| 2024 £ 2023 £ Amounts due: Within oneyear 31,464 56,514 31,464 56,514 ~~——==~~ |
|---|
| 50 |
Notes to the financial statements Year ended 31 August 2024
14 Related party transactions
The aggregate amount of donations received in the year from related parties was £nil (2023 – £nil).
There were no related party transactions during the year other than disclosed in note 6.
15 Liability of members
The charity is constituted as a charitable incorporated organisation. In the event of the charity being wound up members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
51
egal & Admi It•) tion Ye { Ill,, /1 I 52
Legal & Administrative Information
Trustees
Mrs Suzanne McCarthy (chair) Ms Debi Bailey Ms Holly Baxter Mrs Alita Benson Ms Sarah Dembitz (resigned 10 October 2024) Ms Arshmeena Durrani Mrs Julia Grant Ms Catherine Hodges Mr Michael Wells
Registered office Colony 5 Piccadilly Manchester M1 3BR
Charity registration number 1160886
53
Auditors
Buzzacott LLP 130 Wood Street London EC2V 6DL
Bankers
CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ
Solicitors
Objects
The objects of the charity are to advance for the public benefit any purpose or purposes which are exclusively charitable under the laws of England and Wales as the Trustees from time to time see fit with a non-exclusive focus on the education of young people, particularly those from disadvantaged communities including, without limitation by providing educational support to such young people; and providing support to individuals and organisations advancing the education of such people.
Allen & Overy One Bishops Square London E1 6AD
54
Fnde Auclit dent 55
Right to Succeed Annual Report & Accounts
Independent Auditors Report
Independent auditor’s report to the trustees of Right To Succeed CIO
Opinion
Basis for opinion
We have audited the accounts of Right To Succeed CIO (the ‘charity’) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, principal accounting policies and the notes to the accounts.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the accounts:
-
give a true and fair view of the state of the charity’s affairs as at 31 August 2024 and of its incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report and accounts, other than the accounts and our auditor’s report thereon.
The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are
required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the trustees’ report is inconsistent in any material respect with the accounts; or
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sufficient accounting records have not been kept; or
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the accounts are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
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Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 28, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the accounts
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with management, and from our knowledge and experience of the sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including 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), the Charities Act 2011, data protection legislation, anti-bribery, safeguarding, employment, and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions; and
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assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of the trustee meetings;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing any available correspondence with the Charity Commission and other regulators.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Type text here . Buz. COR LEP
Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL
Date 13 March 2025
Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
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OUR VISION FOR THE FUTURE
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Community-led Collective Working
Empowering the community to lead the way in implementing change is what we do best. In the future we will refine the blueprints of our programme successes and support further areas to design and create sustainable change for their own communities.
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Improved educational Access to local opportunities services
We will continue to use assessment tools, and build on our relationships with Research Schools and expert educational leaders. we will continue to provide bespoke training offers to schools and teachers to improve inclusive learning. Using assessment tools to identify the individual needs of children and young people.
We will continue to work collectively in the regions to break-down barriers within communities and improve access and engagement with existing services. We will facilitate internal communication with local services to ensure collaborative working between teams.
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NO SINGLE ORGANISATION CAN SOLVE a COMPLEX SOCIAL PROBLEMS ON THEIR OWN. <o «= er
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