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2022-03-31-accounts

Company number: 5585290 Charity Number: 1161102

The Proud Trust Ltd

Report and financial statements For the year ended 31 March 2022

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The Proud Trust Ltd Reference and administration information

Company number 5585290

Charity number 1161102

Registered office and operational address

The Proud Place, 49 - 51 Sidney Street, Manchester, M1 7HB

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Emma Hawley Oliver Bliss (resigned 4 August 2021) Heather Graham (resigned 4 August 2021) Luke Ives Vice-Chair Katherine Malin-August Treasurer (resigned 4 August 2021) Niamh Moore (resigned 4 August 2021) Geoffrey Thomas Chair Hannah McCoy (resigned 12 July 2021) Lydia Shaw (resigned 4 June 2021) Manjinder Sidhu (appointed 5 August 2021) Christopher Murphy (appointed 5 August 2021) Rachel Cook (appointed 5 August 2021) Jordan Barry (appointed 5 August 2021) Melissa Surgery (appointed 5 August 2021) Christopher Peake (appointed 5 August 2021) Matt Smith Treasurer (appointed 5 August 2021) William Whelton (appointed 5 August 2021) Company secretary Emma Hawley (resigned 5 August 2021) Christopher Murphy (appointed 5 August 2021)

Key management personnel

Amelia Lee Strategic Director (until 5 September 2021) Lisa Harvey Nebil Chief Executive Officer (from 6 September 2021)

Bankers

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The Proud Trust Ltd

Reference and administration information

Unity Trust, 4 Brindley Place, Birmingham B1 2JB Natwest, 135 Bishopsgate, London EC2M 3UR Triodos, deanery Road, Bristol BS1 5AS Charity Bank, Fosse House, 182 High Street, Tonbridge TN9 1BE CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

Solicitors

Anthony Collins Solicitors LLP, 134 Edmund Street, Birmingham B3 2ES

Auditors

Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.

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The Proud Trust Ltd

Trustees' Report for the year ended 31 March 2022

The trustees present their report and the audited financial statements for the year ended 31 March 2022. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1-2 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Vision Statement

The Proud Trust’s vision is to end stigma and fear of stigma through working directly with LGBT+ young people as well as influencing wider society. The result will be that all LGBT+ people will be proud of who they are, and integrated across communities where they live, learn, work, play and pray.

Objectives and activities

The Proud Trust has the following objects as its charitable purpose for the benefit of lesbian, gay, bisexual and transgender (LGBT+) children and young people in England.

To preserve and protect the physical and mental health of such people, in particular but not exclusively through the provision of information, guidance, emotional support and social meeting spaces.

The promotion of equality and diversity for the public benefit by:

The main activities of the Charity are:

  1. Youth work, group work and events

  2. One-to-one support and digital support services

  3. Special projects:

  4. Trans systems change work

  5. Proud Futures employment training scheme

  6. Under one Roof support for parents/carers of LGBT+ people

  7. Training and resources, including our national Rainbow Flag Award scheme for schools

  8. LGBT+ Centre and community work

  9. Research

  10. Infrastructure support through structured networks and events

The Proud Trust works in partnership with a variety of other organisations across the LGBT+, not-for-profit, statutory and business sectors. Activities are evaluated through the collection of quantitative and qualitative data collected from young people/participants, trainees, schools, funders and partner organisations. These are undertaken internally as well as through externally commissioned/ independent research. Evaluation of outcomes feed into the decision making for future developments and strategy.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is designed to help. The review also helps the trustees ensure the charity's aims, objectives and activities remain focused on its stated purposes.

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The Proud Trust Ltd

Trustees' Report for the year ended 31 March 2022

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Activities and beneficiaries of our services

The Proud Trust is a life enhancing charity supporting lesbian, gay, bisexual and trans (including non-binary) people and those with related identities - ‘LGBT+ people’. We have directly reached over 14,360 people this year through our training offer, youth groups, proud connections, resource downloads and community use of The Proud Place. This is supported by our delivery to training professionals, website analytics and our social media reach which has an indirect positive impact on approximately 254, 931 people in England. In addition to the numbers quoted, we are also aware that we will reach more young people through the teachers and professionals who attend our training. Through this work we have been able to be a lifeline to many who would not have support elsewhere. The Charity furthers its charitable purposes for the public benefit through the following:

1. Youth work, group work and events

All services are developed and delivered within a Professional Youth Work philosophy. The organisation currently runs 18 LGBT+ youth groups across Greater Manchester and Cheshire. This includes local groups in Manchester City Centre, Stockport, Trafford, Rochdale, Oldham, Bolton, Chester, Ellesmere Port, Winsford and Northwich and this year we have introduced a group in Bury. Intersectional identities/ lesser-represented parts of the LGBT+ community are specifically catered by focussed services including: three groups for trans young people, a young LGB and pansexual women’s group and a specific group for LGBT+ young people of colour. We have continued our work with partner organisations to contribute further towards increased physical, emotional and social activity amongst young people.

In this year, we continued to operate a hybrid model for the bulk of our youth groups, understanding that many of our young people preferred to continue with online attendance. In addition, this has enabled us to increase our reach, as young people from across the North West were able to attend provision.

We delivered 689 youth group sessions, had 336 young people who were regular attendees through youth groups this year, and have continued to strengthen our outreach activities through the implementation of a new outreach strategy.

We asked 121 young people who regularly come to our groups what the direct result of coming to The Proud Trust is:

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Trustees' Report for the year ended 31 March 2022

2. Proud Connections & One to One Support

Following our successful launch of Proud Connections and the one to one offer during the pandemic, both of these services have grown in reach and demand over the past year. In the pilot year of Proud Connections we have responded to 213 chats through our ‘Need to Chat’ button. Following the increase of access to the ‘Need to Chat’ button outside of standard operating hours we were able to invest some of our reserves income in the programme to increase operating hours across the week.

3. Special projects

The Proud Trust operates both at a grassroots level and through networks across a variety of sectors locally, regionally and nationally. This enables us to identify gaps in support or service provision. Where we identify significant gaps, we work alongside partners to develop new services directly, or campaign for services to exist or improve. We call these special projects.

This year we undertook focused areas of special projects:

3.1 Trans systems change work

Alongside our partners in the trans, LGBT+ and youth sectors we have identified a number of issues with trans and non-binary rights in regards to young people as follows:

We have been addressing these through social action and strategic development within the LGBT sector with partners; working with national government and bodies such as the EHRC and NHS to respond to research, policy or legal changes; creating our own support and advice pages on our website and ‘trans proofing’ checking the content of guides written by other bodies at their request; advising on research and creating our own research with academic partners.

We have also developed and released an animation series called ‘Incoming Transmissions’ which helps to educate people on how to make spaces more inclusive for trans and non-binary young people. This was released during the Digital Pride weekend in Manchester and is now being exhibited at the Whitworth Art Gallery.

3.2 Under one Roof support for parents/carers of LGBT+ people

We have continued to successfully deliver a programme of support for parents and carers of LGBT+ young people across Greater Manchester. This was received well by those who went through the six week programme, and many of the parents and carers have stayed in touch with each other. The sessions are bespoke to each group, co-created with them depending on the needs and requests of participants. This has now become a standard part of our delivery offer to parents and carers.

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The Proud Trust Ltd

Trustees' Report for the year ended 31 March 2022

3.3 Training and resources including our national Rainbow Flag Awards scheme for schools We delivered training and workshops primarily for the youth, education and social care sectors. We asked 248 people we trained about the impact of our training:

The overall average rating of the training was 9/10 (people rated their understanding of LGBT+ issues at 6/10 before receiving training and 9/10 after receiving training)

We have continued our focus towards training adults and changing the wider culture within schools through a ‘whole school approach’. In this financial year we have trained 177 schools and colleges in Rainbow Flag Award Training and have piloted our Rainbow Flag Award for the youth sector with three organisations successfully participating in the pilot.

The Rainbow Flag Award utilises a whole school approach to achieve cultural change, with young people at the heart of the change. Rainbow Flag Award continues to be delivered nationally through our local partners, ensuring greatest possible reach.

We have continued to deliver the LGBT+ GSA (Groups in Schools’ Alliance) for schools who currently deliver LGBT+ groups even though this has been much quieter this year due to the closure of schools during lockdowns, which has reduced the possibility of these (often lunchtime) in-person groups in schools.

We collaborated with Schools OUT UK to deliver the official national LGBT+ History Month Pack on the theme of Politics in Art and had 4222 downloads of it this year, and sold 4999 educational resources in our online shop.

4. The Proud Place and community work

The Proud Place in Manchester provides a wide range of community services and a hub for LGBT+ youth work in the North West region. We officially took receipt of the building in September 2021, moving all of our services into the centre and beginning our trial usage period to understand how services will work and how the building can be used to its full capacity. We aim to be utilising the building fully by May 2022.

5. Research

This year we continued to work with Oxford University on a NIHR project to improve the health experiences of trans and non-binary young people, in spite of an increase in backlash against this work from the growing anti-trans lobby. The anti-trans lobby are claiming that either trans young people do not exist, should not exist, or are ‘confused’ or pressured by others into thinking they are trans. We therefore have a big piece of work to do to challenge this harmful narrative, and were disappointed to see an openly transphobic group get charitable status this year, and have been part of the lobby to challenge this decision.

We continue to be open to participation in research, however, we are also conscious of the impact this may have on the young people we work with. They attend The Proud Trust as a youth provision and therefore, we should not change their experiences by flooding provision with research.

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The Proud Trust Ltd

Trustees' Report for the year ended 31 March 2022

  1. Infrastructure support through structured networks and events We continue to coordinate:

  2. The Ireland, UK and surrounding Islands (IUKI) LGBT+ workers network, with 250 members representing 131 youth groups

  3. The North West England regional LGBT+ Youth Workers Network

  4. The National Trans Youth Workers Network

With these networks we have provided mutual support, training, resource development, sharing best practice, joint projects and events. We have produced joint statements for the public on topical issues.

In response to anti-trans voices, organisations such as LGBT+ Consortium, The Proud Trust, Stonewall and Gendered Intelligence have come together to be able to provide a more coordinated and organised response to anti-trans messages for the LGBT+ sector at large, by forming a working group and engaging in social action and work with the media.

We are currently supporting some other regions in England to form regional LGBT+ youth work networks as well as participate in the national networks.

Achievements and Performance

Our key challenges during the year were shaped around the lasting impacts of COVID-19 on our beneficiaries and our staff team, as well as, embedding into a new LGBT+ centre in the heart of Manchester.

Working remotely during a pandemic created opportunities but also has impacted staff wellbeing and sense of connection. Whilst we now had an office base for staff to work in, we had some continued wellbeing work to do to ensure all felt comfortable with travel and seating arrangements.

The main achievements during the year were shaped by the impacts of the pandemic across all aspects of our services:

March 2022 marked the end of our one year Improvement Plan.

Many of the key targets in our plan were achieved or maintained such as the LGBT+ Centre rebuild project, implementation of job evaluation and competency framework systems and development of financial and fundraising systems.

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Trustees' Report for the year ended 31 March 2022

However, the impact of the pandemic throughout the year and the structural changes to the organisation also shifted the emphasis and priorities of the organisation, in line with a fast changing and uncertain environment. Our one-year improvement plan comes from:

Action plan

The action plan prioritised our internal structures and development for 2021/22. The action plan focuses on:

Governance: We found that the trustees have a good set of materials and resources to help them do their job. There were questions about whether they had enough information and processes in place to use them in practice, and whether staff and trustees know enough about each other’s roles and have enough opportunities to connect, so these are priorities for the coming year.

Planning and leadership: We found that we have had good planning processes for understanding what young people need and the world around us. We are good at deciding future business strategy and help for young people, but we have missed out recently on time to share our experiences of working together as a team. We have been growing and changing quite a lot and we realised a review of how we work together felt overdue. Not all of us understand how senior roles connect and how we can all know about and take part in planning. We want to review how we hold true to our values in a changing context and how all of our important voices are heard in planning. In order to drive this forward, a new CEO post has been created, Lisa Harvey-Nevil is in post from September, 2021 to enhance our leadership and impact.

Our offer to young people: We have been working with more young people year-on-year. We are confident in the quality and impact of our work with young people, and that we listen to them and help them have control and choice. We are good at keeping vulnerable young people safe and at being creative. We want to make sure we reach all young people who need us and that we offer young people ways of progressing and moving on. We want to think about how we formalise youth participation internally across all levels of the organisation.

Management and support: Staff, volunteers and trustees enjoy their jobs and are proud of what they achieve with and for young people. Working environments are positive and well resourced. People feel accepted and supported. There are some specific issues that we will need to work on around feeling overworked and under pressure, pay rates, teams structures, staff progression, greater clarity on wellbeing processes for staff and ensuring we are a diverse and representative workforce

Internal communication: We found that how we communicate between and within teams needs some work this year. This was the most important theme for our staff and trustees when we were writing this plan. We wanted to spend more time together, especially after the difficult year we have had. We wanted to know more about each other’s roles and work. We wanted to make sure we plan based on a good understanding of everyone’s experiences and insight. We want to maintain a positive and respectful communication culture.

Managing money: The financial position of the charity is stable, though there is a continuing need to generate income to replace any funds that are lost.

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Trustees' Report for the year ended 31 March 2022

Working with others and reputation: We found that The Proud Trust has a good reputation and is a brand that is recognised and trusted. It has good relationships and is good at networking. There are good communications resources, and the media position is strong. We wanted to be able to respond more quickly to media requests and to continue to enable all staff and trustees to communicate about us and what we do. We want to do more to reach out to any communities that we have not reached well in the past and to organisations outside of the LGBT+ sector

Assessing outcomes and impact: We found from the research across the staff team that there is a strong understanding of outcomes and we are good at routinely asking young people to report on the impact we are having. We have also recently done some work to understand our impact on wider society. We want to make sure the messages from our evaluation are used when we plan for the future.

Financial Review

Funders have been empathetic and flexible as we recover from the pandemic, with many extending funding and spending periods and rolling on funding for an additional year. In addition, funders have been happy for us to reallocate funds where we saw an underspend due to online delivery through the pandemic.

Trading income through training activity had a record year with the team fully embedding delivery in a virtual space which mobilised them to return to full delivery of the training programme and Rainbow Flag Award.

It was a healthy financial year for the organisation which has enabled a build up of reserves in line with Charity Commission best practice levels.

We continue to monitor the funding landscape carefully. While we saw flexibility from many of our public sector and statutory funders as we emerged from the pandemic, we can see that political and economic uncertainty is going to impact future funding. In response to this we have been working to increase our corporate and philanthropic funders to create a more diverse range of income streams, reducing the risk of instability in our funding and dependency on public sector income.

Risk management

The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. The risk register for the organisation outlines and rates risks in relation to governance, management, operations, human resources, funding and resource procurement, finance, reputation and relationships, health and safety and compliance.

For each risk there is a record of recent developments to mitigate the risk, and future actions with a responsible person assigned to each and a date for completion or review. This is reviewed regularly by staff and by a different Trustee each quarter.

The main risks, potential impact and mitigating action facing the charity are as follows:

Funder priorities change or differ from ours: this would mean that for the young people affected, we are less able to do the work needed, fewer projects and less income to pay for staff. To mitigate this, staff identify which funders are a good fit, assess the priorities of key funders and look at mission overlap. The size of the charity means we have options to avoid funders that don’t fit with the organisation, and focus on those who do, as well as develop relationships with funders to help them prioritise equality and LGBT+ people as an often overlooked group amongst traditional grant giving organisations.

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Trustees' Report for the year ended 31 March 2022

Failure to keep pace with changing market and sector environments: this would mean our services are no longer attractive to funders, schools or other markets, failure to meet income targets and the organisation’s approach becomes irrelevant to achieving our purposes. To mitigate this, we keep up to date within the field, training and networking, committee memberships, and conversations with young people and other beneficiaries, we carry out ongoing research into youth and community developments, and young people’s lives.

Where key staff leave: this leads to loss of experience and skills, recruitment costs and lead time to replace, re training costs with an operational impact on staff morale. To mitigate this, we put in place processes to have two staff familiar with each key area/ process to ensure knowledge transfer. We have staff showcase learnings to one another across programmes for knowledge transfers and work across teams. We have trialled the use of learning logs across three projects to improve cross organisational learning. Supervision is also in place to create awareness of one another’s roles, and identify opportunities to share learning.

Reserves Policy

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £300,000 is appropriate given the risks faced by the charity and the sustainability of its different income streams. Free reserves were £1,044,332. The increased reserves will be used in coming financial years to fund the expansion of the organisation, increasing capacity within the different strands of service delivery. This will bring our free reserves back in line with the reserves policy by 31st March 2024.

The total reserves at 31 March 2022 was £3,752,476 (2021: £3,489,258) of which £469,702 (2021: £1,126,762) are held in restricted reserves. The balance held in unrestricted reserves at 31st March 2022 was £3,282,774 (2021: £2,362,496), of which £1,044,332 (2021: £541,666) are free reserves, after allowing for funds tied up in tangible fixed assets and designated funds.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 6[th] October 2005 and registered as a charity on 27[th] March 2015.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts.

Related parties and relationships with other organisations

Any connection between a trustee or senior manager and any service providers must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. There were no transactions with elated organisations in this period.

Remuneration policy for key management personnel

The Trustees have implemented a Job Evaluation Scheme in order to evaluate the need for any change to remuneration, this includes all management roles. Additionally, any change to the pay of the CEO requires approval from 3 Trustees.

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The Proud Trust Ltd

Trustees' Report for the year ended 31 March 2022

Recruitment and appointment of trustees

Trustees are elected annually by the members of the charitable company attending the Annual General meeting and serve for a period of three years, after which they retire but can be re-elected or co-opted back onto the board.

Induction and training of trustees

New trustees receive a buddy through the existing Board, who sets out their roles and responsibilities, how the Board functions, and goes through the Trustee Induction policy with them. This includes a checklist of reading and activities, including gov.uk guidelines ‘The Essential Trustee’; meeting key members of staff; access to all policies, recent papers and minutes and strategic plans. They have access to the scheme of delegation, which lays out the role of the trustee board, and to the terms of reference for any sub-committees they join. They also complete conflict of interest documentation.

Trustees have the opportunity to undertake regular training, such as safeguarding and ‘Duties of a Trustee’ and financial training. This training is paid for by the organisation. In addition, they have access to best practice online guidance through ACAS (The Advisory, Conciliation and Arbitration Service) and the Charity Commission.

Organisational structure

The Board of Trustees administers the charity. All Trustees meet quarterly as a main Board and then as sub committees with a group covering each of HR, Finance and Quality Assurance. Significant decision making comes to the main Board for approval.

The Board shapes the priorities of the organisation alongside the staff, and contributes to Business Development Plans through workshops and meetings. The Board holds the staff to account through feedback on quarterly reports from the staff regarding organisational plans and targets.

Trustees attend an away day each year to reflect on current developments/priorities.

Statement of policies

The Proud Trust has a large suite of policies and procedures in place to safeguard and support staff, young people and volunteers. These include policies covering equality and diversity; environment and sustainability; recruitment and personnel; complaints and whistleblowing; safeguarding vulnerable people including DBS checks for staff and volunteers; data protection; health and safety; anti-bribery; disciplinary; grievance and modern slavery. These are all on a review rotation of 1-3 years, the Trustees take an active role via the sub-committees.

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Trustees' Report for the year ended 31 March 2022

Statement of responsibilities of the trustees

The trustees (who are also directors of The Proud Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

Third Sector Accountancy Limited were re-appointed as the charitable company's auditors during the year and have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the provisions applicable to company’s subject to the small companies’ regime of the Companies Act 2006.

The trustees’ annual report has been approved by the trustees on and signed on their behalf by:

Christopher Murphy Company Secretary and Trustee

24 / 01 / 2023

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Independent auditor’s report to the members of The Proud trust Ltd

Opinion

We have audited the financial statements of The Proud trust Ltd (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. 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 financial statements:

Basis for opinion

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 financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors 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 trustees report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

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Independent auditor’s report to the members of The Proud trust Ltd

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements 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 financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Other matter

The corresponding figures were not audited.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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 financial statements.

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Independent auditor’s report to the members of The Proud trust Ltd

Capability of the audit in detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance 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.

Based on our understanding of the charity and the environment in which it operates, we identified the principal risks of non-compliance with laws and regulations related to pension legislation, tax legislation, employment legislation, health and safety legislation, safeguarding legislation, data protection and other legislation specific to the environment in which the group operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the reporting requirements under the Charities SORP and FRS102, and the Charities Act 2011.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principle risks were related to the pressure on management to achieve particular results. Audit procedures performed by the group engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements 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 the audit report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and, the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Patrick Morrello (Senior Statutory Auditor) For and on behalf of Third Sector Accountancy Limited, Statutory Auditor Holyoake House Hanover Street Manchester M60 0AS

Date

25 / 01 / 2023

15

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The Proud Trust Ltd

Statement of Financial Activities

(including Income and Expenditure account) for the year ended 31 March 2022

----- Start of picture text -----
Unrestricted Restricted Total funds Unrestricted Restricted Total funds
funds funds 2022 funds funds 2021
Note £ £ £ £ £ £
Income from:
Donations and legacies 3 62,714 63,045 125,759 65,275 57,895 123,170
Charitable activities 4 172,735 704,365 877,100 38,241 803,384 841,625
Other trading activities 5 63,423 - 63,423 26,334 - 26,334
Investments 6 3,306 - 3,306 2,872 - 2,872
Total income 302,178 767,410 1,069,588 132,722 861,279 994,001
Expenditure on:
Raising funds 7 8,037 - 8,037 708 - 708
Charitable activities 8 120,488 677,845 798,333 67,220 650,280 717,500
Total expenditure 128,525 677,845 806,370 67,928 650,280 718,208
Net income/(expenditure) for the year 10 173,653 89,565 263,218 64,794 210,999 275,793
Transfer between funds 746,625 (746,625) - 1,498,142 (1,498,142) -
Net movement in funds for the year 920,278 (657,060) 263,218 1,562,936 (1,287,143) 275,793
Reconciliation of funds
Total funds brought forward 2,362,496 1,126,762 3,489,258 799,560 2,413,905 3,213,465
Total funds carried forward 3,282,774 469,702 3,752,476 2,362,496 1,126,762 3,489,258
----- End of picture text -----

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

16

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The Proud Trust Ltd Company number 5885290

Balance sheet as at 31 March 2022

----- Start of picture text -----
Note 2022 2021
£ £ £ £
Fixed assets
Tangible assets 15 2,207,692 1,500,552
Current assets
Debtors 16 81,810 133,153
Cash at bank and in hand 1,692,065 2,215,791
Total current assets 1,773,875 2,348,944
Liabilities
Creditors: amounts falling
due in less than one year 17 (229,091) (360,238)
Net current assets 1,544,784 1,988,706
Net assets 3,752,476 3,489,258
The funds of the charity:
Restricted income funds 19 469,702 1,126,762
Unrestricted income funds 20 3,282,774 2,362,496
Total charity funds 3,752,476 3,489,258
----- End of picture text -----

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 19 to 40 form part of these accounts.

24 / 01 / 2023

Approved by the trustees on _____ and signed on their behalf by:

Matthew Smith (Treasurer)

17

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The Proud Trust Ltd

Statement of Cash Flows

for the year ending 31 March 2022

----- Start of picture text -----
Note 2022 2021
£ £
Cash provided by/(used in) operating activities 23 185,713 1,917,356
Cash flows from investing activities:
Dividends, interest, and rents from investments 3,306 2,872
Purchase of tangible fixed assets (712,745) (1,258,160)
Cash provided by/(used in) investing activities (709,439) (1,255,288)
Increase/(decrease) in cash and cash
equivalents in the year (523,726) 662,068
Cash and cash equivalents at the beginning of the year 2,215,791 1,553,723
Cash and cash equivalents at the end of the year 1,692,065 2,215,791
----- End of picture text -----

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with 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) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Proud Trust Ltd meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.

b Judgments and estimates

The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

d Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

19

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold building - assets under construction 0% Office fixtures and equipment 33%

The freehold building has not been brought into use yet and so no depreciation has been charged.

20

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

k Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

o Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within support and governance costs and allocated to the funds of the charity using the methodology set out in note 9.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

21

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

3 Income from donations and legacies

Donations
Cornavirus Job Retention Scheme
Donations for capital project
T
o
t
a
l
4
I
n
c
o
m
e
f
r
o
m
c
h
a
r
i
t
a
b
l
e
a
c
t
i
v
i
t
i
e
s
Young peoples services
Training resources and research
LGBT+ centre and café
T
o
t
a
l
Infrastructure support for LGBT+ youth
support		 Unrestricted
£
58,980
3,734
-
62,714
Unrestricted
£
70,525
74,843
12,467
14,900
172,735		 Restricted
£
-
-
63,045
63,045
Restricted
£
432,974
30,467
96,000
144,924
704,365		 Total 2022
£
58,980
3,734
63,045
125,759
Total 2022
£
503,499
105,310
108,467
159,824
877,100		 Unrestricted
£
18,942
46,333
-
65,275
Unrestricted
£
6,750
24,638
6,853
-
38,241		 Restricted
£
-
-
57,895
57,895
Restricted
£
564,258
10,000
65,067
164,059
803,384		 Total 2021
£
18,942
46,333
57,895
123,170
Total 2021
£
571,008
34,638
71,920
164,059
841,625

22

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

5 Income from other trading activities

Merchandise
Sponsorship
Other income
6
I
n
v
e
s
t
m
e
n
t
i
n
c
o
m
e
Income from bank deposits
7
C
o
s
t
o
f
r
a
i
s
i
n
g
f
u
n
d
s
Merchandise costs
Support and governance costs (see note 9)		 Unrestricted
£
20,915
37,423
5,085
63,423
Unrestricted
£
3,306
3,306
Unrestricted
£
8,037
-
8,037		 Restricted
£
-
-
-
-
Restricted
£
-
-
Restricted
£
-
-
-		 Total 2022
£
20,915
37,423
5,085
63,423
Total 2022
£
3,306
3,306
2022
£
8,037
-
8,037		 Unrestricted
£
7,250
-
19,084
26,334
Unrestricted
£
2,872
2,872
Unrestricted
£
465
243
708		 Restricted
£
-
-
-
-
Restricted
£
-
-
Restricted
£
-
-
-		 Total 2021
£
7,250
-
19,084
26,334
Total 2021
£
2,872
2,872
2021
£
465
243
708

23

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

8 Analysis of expenditure on charitable activities

Current year

ect costs
stricted expenditure
restricted expenditure
m
p
a
r
a
t
i
v
e
y
e
a
r
ect costs
pport and governance
ts (see note 9)
pport and governance
ts (see note 9)		 Young
peoples
services
£
313,176
107,084
420,260
401,030
19,230
420,260
307,672
176,065
483,737		 Training,
resources
and research
£
28,531
7,024
35,555
3,584
31,971
35,555
9,535
2,777
12,312		 LGBT+ centre
and café
£
110,531
157,569
31,448
42,970
141,979
200,539
105,465
167,766
36,514
32,773
141,979
200,539
51,038
110,687
13,837
45,889
64,875
156,576
Infrastructure
support for LGBT+
youth support		 Total 2022
£
609,807
188,526
798,333
677,845
120,488
798,333
478,932
238,568
717,500

24

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

9 Analysis of governance and support costs

taff costs
onsultancy
nreclaimable VAT
ccountancy
dministration costs

l
l
o
c
a
t
e
d
a
s
f
o
l
l
o
w
s
:
oung peoples services
raining resources and research
GBT+ centre and café
ost of raising funds
nfrastructure support for LGBT+ youth		 Support
£
112,407
33,756
3,653
-
36,050
185,866		 Governance
£
-
-
-
2,660
-
2,660		 Total 2022
£
112,407
33,756
3,653
2,660
36,050
188,526
107,084
7,024
31,448
42,970
-
188,526		 Support
£
137,328
71,612
14,551
-
12,660
236,151		 Governance
£
-
-
-
2,660
-
2,660		 Total 2021
£
137,328
71,612
14,551
2,660
12,660
238,811
176,065
2,777
13,837
45,889
243
238,811

The cost of staff involved in managing and supporting the charity as a whole have been included in support costs in 2021 and allocated to charitable activities on the basis of time spent. This is a change in presentation from the previous year, when the cost of those staff was included in expenditure on charitable activities (note 8).

25

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

10 Net income/(expenditure) for the year

his is stated after charging/(crediting):
epreciation
uditor's remuneration - audit fees
uditor's remuneration - accountancy fees

t
a
f
f
c
o
s
t
s
taff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
A
l
l
o
c
a
t
e
d
a
s
f
o
l
l
o
w
s
:
Charitable activities
Support costs
Governance costs
ndependent examiner's fee		 2022
£
4,318
3,500
1,200
-
2022
£
514,477
37,479
13,620
565,576
453,167
112,409
-
565,576		 2021
£
278
-
-
2,000
2021
£
445,406
30,309
11,956
487,671
483,761
3,910
-
487,671

11 Staff costs

No employees has employee benefits in excess of £60,000 (2021: Nil).

The average number of staff employed during the period was 35 (2021: 33).

The average full time equivalent number of staff employed during the period was 17.8 (2021: 17.9).

The key management personnel of the charity comprise the trustees, the Operational Director and the Strategic Director. The total employee benefits of the key management personnel of the charity were £48,506 (2021: £73,764).

26

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

12 Trustee remuneration and expenses, and related party transactions

One trustee (2021: Nil) received travel and subsistence expenses during the year of £103 (2021: £Nil).

Apart from the above, neither the trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year (2021: Nil).

Aggregate donations from related parties were £0 (2021: £50,000).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2021: nil).

13 Government grants

The government grants recognised in the accounts were as follows:

Manchester Health and Care Commissioning
Manchester City Council
GreaterSports
NHS West Cheshire CCG
Cheshire West & Chester Council Payments
Stockport Council
Trafford MBC
NHS Heywood, Middleton and Rochdale CCG
Greater Manchester Combined Authority
Department of Work and Pensions		 2022
£
32,100
131,630
2,999
15,200
34,170
9,652
14,250
25,000
24,924
3,734
293,659

14 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

15 Fixed assets: tangible assets

----- Start of picture text -----
Furniture and
Assets under office
construction equipment Total
£ £ £
Cost
At 1 April 2021 1,498,830 17,570 1,516,400
Additions 638,952 73,793 712,745
Disposals - (17,570) (17,570)
At 31 March 2022 2,137,782 73,793 2,211,575
Depreciation
At 1 April 2021 - 15,848 15,848
Charge for the year - 4,161 4,161
Disposals - (16,126) (16,126)
At 31 March 2022 - 3,883 3,883
Net book value
At 31 March 2022 2,137,782 69,910 2,207,692
At 31 March 2021 1,498,830 1,722 1,500,552
16 Debtors
2022 2021
£ £
Trade debtors 32,014 42,867
Other debtors 2,881 41,242
Prepayments 3,664 1,264
Accrued income 43,251 47,780
81,810 133,153
17 Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 23,782 264,559
Other creditors and accruals 25,288 15,759
Deferred income 23,523 70,563
Taxation and social security costs 156,498 9,357
229,091 360,238
----- End of picture text -----

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

----- Start of picture text -----
18 Deferred income
2022 2021
£ £
Deferred income brought forward 70,563 148,891
Income deferred in the period 23,523 70,563
Released to income from charitable activities (70,563) (148,891)
Deferred grant carried forward 23,523 70,563
----- End of picture text -----

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

1
9		 1
9		 A
n
a
l
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s
i
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s
i
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s
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a
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i
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i
c
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e
d
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e
s
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i
c
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e
d
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e
s
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i
c
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i
c
t
e
d
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e
s
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 f
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s		 f
u
n
d
s		 f
u
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d
s
Balance at 1 Balance at
April 2021 31 March
F
u
n
d
e
r
a
n
d
p
r
o
j
e
c
t
 n
a
m
e		 D
e
s
c
r
i
p
t
i
o
n
o
f
n
a
t
u
r
e
a
n
d
p
u
r
p
o
s
e
s		 Income Expenditure Transfers 2022
£ £ £ £ £
Y
o
u
n
g
p
e
o
p
l
e
s
s
e
r
v
i
c
e
s
Bolton NHS CCG Programme for LGBT+ young people providing peer support 3,102 -
(13)		 -
3,089
& for professionals working with young people in Bolton.
CWAC Equality and Diversity Third LGBT+ awareness raising faith communities including 8,448 120 (1,109) -
7,459
Sector Fund resources, events & Safer Person Projects training for young
people.
Manchester Pride Package of BAME LGBT+ support for young people, events 5,926 -
-		 -
5,926
and allies training.
National Lottery Awards For All Youth groups & rainbow playground. 5,277 -
(3,412)		 -
1,865
NHS Manchester CCG and VCSE Health Trans health care navigator one to one support for young 8,041 32,100 (30,943) -
9,198
and Wellbeing Fund people.
Young Women's Health Project A package of support for young women. 2,666 -
(2,734)		 68 -
GreaterSport Programmes of activity, also training staff and young leaders 2,274 2,998 (752) -
4,520
in coaching based qualifications.
BBC Children in Need - CiN Trans Support for trans and non-binary young people 18,072 39,978 (32,669) -
25,381
Young Manchester - YMCR Main 2020- LGBT+ youth support and services across Manchester 24,847 65,705 (61,168) -
29,384
22
Young Manchester- YMCR Creative Programme of creative projects for LGBT+ young people 1,810 15,500 (9,601) -
7,709
2020-22 across Manchester
Cheshire Clinical Commissioning Group LGBT+ Outreach Support in West Cheshire & Safer Person 2,095 15,200 (12,110) -
5,185
Project
Cheshire West & Chester Borough Package of LGBT+ support, outreach and training in Cheshire 44,150 34,050 (28,306) -
49,894
Council - CWAC YP
The Gaddum Centre - Getting Help Package of LGBT+ group work and one-to-one support in 26,779 19,480 (19,686) -
26,573
Rochdale Rochdale
Stockport SMBC Package of LGBT+ support, outreach and training in 13,235 9,652 (8,588) -
14,299
Stockport
Trafford MBC - 2020-22 Package of LGBT+ support, outreach and training in Trafford 25,746 14,250 (12,952) -
27,044

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

----- Start of picture text -----
Balance at 1 Balance at
April 2021 31 March
Funder and project name Description of nature and purposes Income Expenditure Transfers 2022
£ £ £ £ £
Trafford Housing Trust Roadshow for Trafford to promote LGBT+ services available 12,949 2,000 (14,187) - 762
to residents.
Wythenshawe Community Housing Package of LGBT+ support, outreach and training in 17,103 4,000 (3,951) - 17,152
Group Wythenshawe
Heywood, Middleton & Rochdale Package of LGBT+ support, outreach and training in Rochdale 18,135 25,000 (23,291) - 19,844
Clinical Commissioning Group
BBC Children in Need - Youth Futures Employability programme for LGBT+ young people whose 32,737 34,936 (38,229) - 29,444
mental health has been affected by COVID-19
BBC Children in Need - A Million & Me Help Services LGBT+ national support through online contact 20,324 32,450 (41,842) - 10,932
& content
The Empowerment People Residentials for young people 7,517 - - - 7,517
The WEA, ESF Community Grant To develop work place skills to enable access into - 5,000 (4,955) 45
employment and training for LGBT+ young people
Bolton Partnerships, Thrive Fund youth groups in Bolton - 7,583 (2,363) 5,220
Bolton CVS Planet Rainbow youth group - 25,000 (16,096) - 8,904
Early Break Oldham Package of LGBT+ support for young people in Oldham. - 3,072 (3,698) 627 1
Momentum Improvement of website user interface - 14,900 (15,425) 525 -
MHCC Population Health Development of Proud Connections, a digital support service - 10,000 (7,476) - 2,524
for LGBT+ young people and those supporting them
Oldham Food Project Partnership, studying young people's relationship with food - 20,000 (5,474) - 14,526
in Oldham
301,233 432,974 (401,030) 1,220 334,397
----- End of picture text -----

31

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

----- Start of picture text -----
19 Analysis of movements in restricted funds
Balance at 1 Balance at
April 2021 31 March
Funder and project name Description of nature and purposes Income Expenditure Transfers 2022
£ £ £ £ £
Training, resources and research
Durex Training Programme Sex and relationships education programme - 20,000 (3,501) - 16,499
Rainbow Flag Award Fund to develop the RFA programme scope in schools 6,088 10,467 (83) - 16,472
6,088 30,467 (3,584) - 32,971
LGBT+ centre and café
Our Manchester, MCC Equalities programme for LGBT+ communities through the 30,764 36,000 (31,710) - 35,054
LGBT+ Centre and Community Cafe.
Henry Smith Charity: Improving Lives Community cafe providing work experience, volunteering 10,852 60,000 (73,755) 2,903 -
scheme, training & group support & activities for LGBT+
people in Manchester.
41,616 96,000 (105,465) 2,903 35,054
----- End of picture text -----

32

Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

----- Start of picture text -----
19 Analysis of movements in restricted funds
Balance at 1 Balance at
April 2021 31 March
Funder and project name Description of nature and purposes Income Expenditure Transfers 2022
£ £ £ £ £
Infrastructure support for LGBT+ youth support
Paul Hamlyn Foundation Towards core salaries of senior staff. 16,694 30,000 (44,499) - 2,195
Esmée Fairbairn Foundation Develop the quality & quantity of youth work with LGBT+ 57,341 65,000 (60,399) - 61,942
young people in England, including infrastructure support to
the education and youth sectors.
GMCA cultural and social impact fund Creative engagement with young people including BAME - 14,924 (13,313) - 1,611
LGBT young people and development of volunteering across
Greater Manchester.
Tudor Trust Staffing for core posts, LGBT+ mentor/peer support 829 30,000 (41,087) 10,258 -
development & organisational developments.
MCC Covid LGBT+ covid response 5,000 5,000 (8,468) - 1,532
79,864 144,924 (167,766) 10,258 67,280
New build project
Various funders For the new centre build project 697,961 63,045 - (761,006) -
Total 1,126,762 767,410 (677,845) (746,625) 469,702
----- End of picture text -----

33

Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

19 Analysis of movements in restricted funds

Comparative period Balance at
Balance at 1 31 March
Funder and project name Description of nature and purposes April 2020 Income Expenditure Transfers 2021
£ £ £ £ £
Young peoples services
Bolton NHS CCG Programme for LGBT+ young people providing peer support 6,767 1,185 (4,850) -
3,102
& for professionals working with young people in Bolton.
Children in Need Delivery of trans and LGBT BAME young people's support 4,123 -
-		 (4,123) -
Co-op Foundation #iwill To reduce youth loneliness for LGBT+ people of faith across 3,692 24,348 (28,040) -
-
England.
CWAC Equality and Diversity Third LGBT+ awareness raising faith communities including 8,448 -
-		 -
8,448
Sector Fund resources, events & Safer Person Projects training for young
people.
The Empowerment People Youth worker time for young womens support - 1,710 (1,710) -
-
Home Office Hate Crime Communty Ticket To Pride Projects 103 -
-		 (103) -
Projects
Manchester Pride Package of BAME LGBT+ support for young people, events 5,966 -
(40)		 -
5,926
and allies training.
MHCC Thrive Mental health and wellbeing support for LGBT+ people and 3,443 18,230 (21,673) -
-
their families.
National Lottery Awards For All Youth groups & rainbow playground. 9,715 -
(4,438)		 -
5,277
NHS Manchester CCG and VCSE Health Trans health care navigator one to one support for young 3,839 23,106 (18,904) -
8,041
and Wellbeing Fund people.
Oldham Council Youth Fund Kerrching Package of LGBT+ support for young people in Oldham. 2,906 -
(2,906)		 -
-
Young Womens Health Project A package of support for young women. - 8,320 (5,654) -
2,666
The Charity Service Post therapeutic youth work, and volunteer scheme - 7,280 (7,280) -
-
development.
GreaterSport Programmes of activity, also training staff and young leaders - 26,986 (24,712) -
2,274
in coaching based qualifications.
BBC Children in Need - CiN Trans Support for trans and non-binary young people - 42,583 (26,134) 1,623 18,072
Young Manchester - YMCR Main 2020- LGBT+ youth support and services across Manchester 19,861 65,700 (60,714) -
24,847
22
Young Manchgester- YMCR Creative Programme of creative projects for LGBT+ young people - 15,000 (13,190) -
1,810
2020-22 across Manchester

34

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

Comparative period
Funder and project name
Description of nature and purposes
Cheshire Clinical Comissioning Group
LGBT+ Outreach Support in West Cheshire & Safer Person
Project
Cheshire West & Chester Borough
Council - CWAC YP
Package of LGBT+ support, outreach and training in Cheshire
The Gaddum Centre - Getting Help
Rochdale
Package of LGBT+ group work and one-to-one support in
Rochdale
Stockport SMBC
Package of LGBT+ support, outreach and training in
Stockport
Trafford Housing Trust
Roadshow for Trafford to promote LGBT+ services available
to residents.
Trafford MBC - 2020-22
Package of LGBT+ support, outreach and training in Trafford
Wythenshawe Community Housing
Group
Package of LGBT+ support, outreach and training in
Wythenshawe
Heywood, Middleton & Rochdale
Clinical Commissioning Group
Package of LGBT+ support, outreach and training in
Rochdale
The WEA, ESF Community Grant
To develop work place skills to enable access into
employment and training for LGBT+ young people
Cheshire Community Foundation/Steve
Morgan Foundation
Support for LGBT+ young people during covid
BBC Children in Need - Youth Futures
Employability programme for LGBT+ young people whose
mental health has been affected by COVID-19
BBC Children in Need - A Million & Me
Help Services LGBT+ national support through online contact
& content
The National Lottery Community Fund -
Catalyst
Development of the Help Services national line
The Empowerment People
Residentials for young people		 Balance at 1
April 2020
Income
Expenditure
Transfers
£
£
£
£
£
Balance at
31 March
2021
-
17,084
(14,989)
-
2,095
32,938
38,000
(26,788)
-
44,150
24,955
19,014
(17,190)
-
26,779
10,140
9,562
(6,467)
-
13,235
13,465
-
(507)
(9)
12,949
22,604
14,250
(11,108)
-
25,746
12,979
8,833
(4,709)
-
17,103
12,558
25,000
(19,423)
-
18,135
-
19,741
(19,741)
-
-
-
9,640
(9,640)
-
-
-
34,935
(2,198)
-
32,737
-
32,450
(12,126)
-
20,324
-
7,784
(7,784)
-
-
-
7,517
-
-
7,517
198,502
478,258
(372,915)
(2,612)
301,233

35

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

Comparative period
Funder and project name
Description of nature and purposes
Training, resources and research
Classroom
Rainbow Flag Award
Fund to develop the RFA programme scope in schools
LGBT+ centre and café
Our Manchester, MCC
Equalities programme for LGBT+ communities through the
LGBT+ Centre and Community Cafe.
Henry Smith Charity: Improving Lives
Community cafe providing work experience, volunteering
scheme, training & group support & activities for LGBT+
people in Manchester.
We Love Manchester
Online activities LGBT+ covid response		 Balance at 1
April 2020
Income
Expenditure
Transfers
£
£
£
£
£
Balance at
31 March
2021
-
10,000
(10,000)
-
-
-
2,792
(4)
3,300
6,088
-
12,792
(10,004)
3,300
6,088
16,545
36,000
(21,781)
-
30,764
-
59,900
(49,048)
-
10,852
-
2,375
(2,375)
-
-
16,545
98,275
(73,204)
-
41,616

36

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

Comparative period
Funder and project name
Description of nature and purposes
Infrastructure support for LGBT+ youth support
Paul Hamlyn Foundation
Towards core salaries of senior staff.
Esmee Fairbairn Foundation
Develop the quality & quantity of youth work with LGBT+
young people in England, including infrastructure support to
the education and youth sectors.
GMCA cultural and social impact fund
Creative engagement with young people including BAME
LGBT young people and development of volunteering across
Greater Manchester.
LGBT Consortium
Support the development of LGBT+ futures fund & the LGBT+
sector's role in the Government's LGBT+ action plan work.
NESTA Digital
Development of pilot online mentoring services & related
bespoke CRM system.
Tudor Trust
Staffing for core posts, LGBT+ mentor/peer support
development & organisational developments.
MCC Covid
LGBT+ covid response
New build project
Various funders
For the new centre build project
Total		 Balance at 1
April 2020
Income
Expenditure
Transfers
£
£
£
£
£
Balance at
31 March
2021
12,500
50,000
(45,806)
-
16,694
32,268
109,135
(84,062)
-
57,341
-
14,924
(14,924)
-
-
-
3,000
(3,000)
-
-
15,194
-
(15,194)
-
-
-
32,000
(31,171)
829
-
5,000
-
-
5,000
59,962
214,059
(194,157)
-
79,864
2,138,896
57,895
- (1,498,830)
697,961
2,413,905
861,279
(650,280)
(1,498,142)
1,126,762

37

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

20 Analysis of movement in unrestricted funds

----- Start of picture text -----
Balance at 1 As at 31
April 2021 Income Expenditure Transfers March 2022
£ £ £ £ £
Free reserves 541,666 302,178 (128,525) 329,013 1,044,332
Designated funds
LGBT+ centre rebuild 280,000 - - (280,000) -
New fundraiser post 42,000 - - (11,250) 30,750
Designated property 1,498,830 - - 708,862 2,207,692
Total designated
funds 1,820,830 - - 417,612 2,238,442
Total unrestricted
funds 2,362,496 302,178 (128,525) 746,625 3,282,774
Comparative period
Balance at As at 31
1 April 2020 Income Expenditure Transfers March 2021
£ £ £ £ £
Free reserves 477,560 132,722 (67,928) (688) 541,666
Designated funds
LGBT+ centre rebuild 280,000 - - - 280,000
New fundraiser post 42,000 - - - 42,000
Designated property - - - 1,498,830 1,498,830
Total designated
funds 322,000 - - 1,498,830 1,820,830
Total unrestricted
funds 799,560 132,722 (67,928) 1,498,142 2,362,496
Name of
unrestricted fund Description, nature and purposes of the fund
----- End of picture text -----

Free reserves The unrestricted funds after allowing for all designated funds LGBT+ centre rebuild Funds set aside for the new building project New fundraiser post Funds set aside for the new fundraiser post Designated property The fixed assets are essential for the future operation of the charity and so are assets fund excluded from free reserves.

38

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The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

21 Analysis of net assets between funds

----- Start of picture text -----
General Designated Restricted
fund funds funds Total 2022
£ £ £ £
Tangible fixed assets - 2,207,692 - 2,207,692
Net current assets/(liabilities) 1,044,332 30,750 469,702 1,544,784
Total 1,044,332 2,238,442 469,702 3,752,476
Comparative period
General Designated Restricted
fund funds funds Total 2021
£ £ £ £
Tangible fixed assets (707,140) 2,207,692 - 1,500,552
Net current assets/(liabilities) 539,944 322,000 1,126,762 1,988,706
Total (167,196) 1,820,830 1,126,762 3,489,258
22 Analysis of net debt
At 1 April Cash flows At 31 March
£ £ £
Cash at bank and in hand 2,215,791 (523,726) 1,692,065
Net debt 2,215,791 (523,726) 1,692,065
At 1 April Cash flows At 31 March
£ £ £
Cash at bank and in hand 1,553,723 662,068 2,215,791
Net debt 1,553,723 662,068 2,215,791
----- End of picture text -----

39

Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518

The Proud Trust Ltd

Notes to the accounts for the year ended 31 March 2022 (continued)

23 Reconciliation of net movement in funds to net cash flow from operating activities

N
e
t
i
n
c
o
m
e
/
(
e
x
p
e
n
d
i
t
u
r
e
)
f
o
r
t
h
e
y
e
a
r
A
d
j
u
s
t
m
e
n
t
s
f
o
r
:
Depreciation charge
Loss/(profit) on sale of fixed assets
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
N
e
t
c
a
s
h
p
r
o
v
i
d
e
d
b
y
/
(
u
s
e
d
i
n
)
o
p
e
r
a
t
i
n
g
a
c
t
i
v
i
t
i
e
s		 2022
£
263,218
4,161
1,444
(3,306)
51,343
(131,147)
185,713		 2021
£
275,793
278
-
(2,872)
1,502,746
141,411
1,917,356

24 Contingent liability

There is a possibility that the charity may be required to return funds totalling £39,500 which it was prevented from spending during the pandemic.

40

Doc ID: 302cf0e6952d07e4552b146765177aa3ccf71518