Charity rnglstratlon numbor 1163589 YOUNG HARROW FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 YOUNG HARROW FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustses Steven Williams {Vic8 Chairl Cong {Johnl Wang Clare Harrington (HR- Chairl Sanjay Chandarana Joanna Mourant Samy Benaferi math￿ra (Appointed 21 February Panohadcharasarm8 20231 Giatst Sinmileoluwa (Appointed 22 Septembgr Taiwo 20221 Charlty numbor 1163589 R8glstorod offlco 27 Hlgh Street Harrow Middlesex HA13HT Audltor Crftchleys Audit LLP B•￿v?.r HniistP 23-38 Hythe Bridge Slrget Oxfo OX1 2EP Bankors Metro Bank 1- 2 St Ann's ShopFxng C8nlr8 H8rrow HAI 1AS YOUNG HARROW FOUNDATION CONTENTS Page Trustees, report Statement ofTrustees' responslblllUe8 Independènt auditof8 report Statement of financial activities Balance Sheet Statement of cash flows Note5 to the ftnancial ststements 10-21 YOUNG HARROW FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual report and financial statements for the year anded 31 March 2023. The financial stslemenls have been prepared In accordance with the accounting policies set out in note 1 to the flnanclal statements and compty ￿th the Foundalon's gov8ming document, the Charille8 Act 2011 and "Aee¢Juntfing and R8POrting by Charities.. Statement of Recommended Praclico applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in thg UK and Republic of Ireland IFRS 102). leffective 1 January 20191. ObJ•ctlv•s and a¢tivitios The Trustees have paid duo regard to guldance i88ued by the Charity Commission in deciding what activilles the FourKlation should undertake. Achievements and perforn)an Flnanclal r•vl•w It is the policy of the Foundation th* unrestrlcted fundg which have not been desionated for a specffic use should be maintained at a level equivalent to between thr88 and six month's expenditure. The Trustees consider Ihal reserves al this level will ensure that, in the event of a sigr7ificanl drop in funding, they will be able to continuo the Foundation's Cuffent activities while consideration is given lo ways in which additional funds may be raised. Thi$ level of reserves has been maintained Ihroughout the year. Stru¢tur•. gov•mance and managamont The Foundation is a ch8rltabl8 Incorwr8ted organlsouon. The Trustee8 who seNed during the year and up lo the dats of slgnature of the financial statements were: Steven Williams (Wca Chalr) Cong (John) Wang Clarg Harrin9ton {HR- Chair) Sanjay Chandarana Shumailla Dar .IrhRnnA M*)ItrsJnt S8my Btsnaferi Mathura Panch8dch8r88am)a Giazat Sinmileoluwa Talwo (Apwntsd 14 June 2022 and resigned 15 December 2022) {Appoinled 21 Febwary 2023) (Appointed 22 September 20221 YOUNG HARROW FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 A bi-annual 8k¢lls audit is conducted by the Board alongside a yeady 1..1 with the ¢haSr lo Identlfy any missing skills or argas that a new trustee would add benefft lo. Recruitment is carried out with Job Descriptions and advertised on a numbef of sites and on soaal media, alongside existing Trusteos and the Senior Staff Team having responsibilrbes for promoting. Onc8 a potsnlial Tnjslee has been identified they are invited for an interview with Chair and CEO and then to attend a Board Meeting as an observer, in th8 first instance. If all goes wo11 {Including references and DBS ¢hecksl. they are th&n proposed. seconded and voled in at the following meeting. Once appointed new trustees h8v8 an induction process to make sure th8y are lulW aware of their responsibililios as a Charity Trustee. All trustges are encouraged lo compl&te Govem8nce and Finance training and then 81so offered other training programs if their role has specific priority areas. Trusloe engagement has focused on the opportunity for enhanced leaming through th8 sub-grwps and resumed in greater undgTrtanding and scrutiny. We have also developed and adopted a new induction program for tyjr Trustees to ensur8 thgy build on the skills thay bring to YHF and thjly understand the YHF mission and op8rallons. Our 3 monthlv sub orouDS 8re as follows'.HRIPeoplelrewewinq tho Stsff and volunteer issue$ and opportunrti&sl, Businoss Contlnulty IRevSewlng and updating our Rlsk Register}, and Flnanco Irevlew6ng our Management accounts and cA$h flow). All sub groups have a18ad from the board vtho is responsible for the 8Ction$ but all tnJslg9s are Invited to take part In 811 subgroups for awargness, development and Incraasad accountability. W8 also hav8 ts8k8 and finish sub groups as needed. Board d8vglopment is an ongoing process. Training opportunities are shar8d Trustees when8v8r they 8rfse, and Trustees ar8 encouraged to altend any staff wd8 Ir8ining that occurs. Board Away Day's occur annually which allow Ihg Board lo be fully involved in strategy and forward planning for th8 yg8r ahead. The new indudon progr&m includos an Induction sh88L YHFS 5tral8gy. a session wlth a member of staff lo go through the YHF google drive and shared folders they have access to and find all the papars for truslee meetings end sub groups on and an Invhation to a team meeting lo meet the team and share more about themselves. The cnmpotys currant policy C￿r￿mIng the payment ot trade creditor5 is to follt)w the CBI'S Prompt Payers Code (copies arg available from thg CBI. Centr8 Point. 103 New Oxford Street. London WC1A 10U). The companys current policy concgming the payment of trade ￿edItOrs is to.. Settle the ternis of payment wth suppligrs when agreeing the tem)s of each transaction: ensufe that suppliers are made aware of the 18mis of payment by inclusion of the relevant terms in ￿ntractS. and pay in accordance wth th8 CoMpan￿S wntractual and other lègal ¢)bllgat￿)ns. The Trusts ' report was a th• Board of Tru8t8e8. Clare H Trusts• rrington (HR- Chalr) Date: .. '2S YOUNG HARROW FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees are resw)nslblo for preparlng the Twste8s' Report and the financaal statements in ¥￿rdance with 8pplicab19 law and United ￿ngdorn Accounung Stondords Iunited Kingdom Generally Ar£epted Accounting Practice). The law appllcable to charities In England and Waltss requires the Trustees to prepare financial statements for each financtal year which gwe a true and falr view of the state of 8ffalrs of the Foundation and of tho incoming resources and application of resources of the Found*ion for that year. In preparing these flnancial statements, th8 Trustees are 18quirgd lo: - select suitable accounting policies and thgn apply th￿ consistenty.. - observ8 the methods and prindples in the Chariaes SORP., - make judgements 8nd estimates that aro reasonable and prudent: stsle whether applicable accounting standards have been followed, subject to any matarial departures di$dosed and explained in the financial statements.. and - prepare the fin8rrial slalerr*nts on the going ￿nCeM basi8 unless it is inapproprFate lo presume that th8 chartty will continue In operation. The Trustees are responsible for keeping 8uffici6nt accountlng records that disdose with reasonable accuracy at 8ny ttme the finaniial position of the Foundab"on and enable them to ensure that the flnandal statements comply with the Charities Act 2011, the Charity {A¢counts and Reports) Regulations 2008 and the provisions of the trust dead. They are also responsible for sBfeguardlng the assets of the Four*dalion and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. YOUNG HARROW FOUNDATION CRITCHLEYS INnFPFNnENT AUDITOR'S REPORT TO THE TRUSTEES OF YOUNG HARROW FOUNDATION Opinion We have audited thè finan¢ial Statements of Young Harrow Foundation (the 'Foundatton') for the year eThJed 31 March 2023 which comprise th8 ststement of financial activities, the balance sheet, the statement of cash llows and notes to the financial statements. including significant accounting policies. The financial reporting Iramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Rep0￿-ng Standard appliGable in tho UK &nd R8public of Ireland (United knngdom Generallyknepted Accounting Practice). In our opinson. the financial statements- give a true and fair view of the state of the charty's affairs as at 31 March 2023 and of its incoming resources and application of resources. for the year then &nded., have been propedy prepared in accordance with United Ktngdom Genarally Acceptod Accounting PractleK: and have been pr8pared In accc*dance with the raquirements of the Chariti68 Act 2011. Basls for oplnion We coralucted Our audit in accordance with Intematlonal Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those stsndard$ ar¢ further described in the Auditorfs respon&bilthes for the audk of the fpn8ncial statements Section of our report. We ar& independent of the Foundation in accordance Mth the ethical requirements that are relevant to our 8udil of the finan¢ial statements in the UK, including th8 FRC'S Ethiral Standar¢J, and we have ftjlfilled our other ethical responsibilities in aC0)rdan￿ with these requirements. We believe th8t the audit ewdence we have obtsined is sufficient and approprfate lo provide a basis for our opinion. Concluslons r•latlng to golng ¢oncorn In auditing the financial statements, we have Concluded that tho TNstses' use of the golng COn￿M basis of accounllng in the preparnlion of the financial statements Ss appropriate. Based on the work we have perfomied. we have not klenllfied any materfal uncertainties rfjlating to events or conditions that, individually or collectively. may cast signtficant doubt on the Foun(Jation's abilty to contlnue as golng concem for 8 peric¥J of ot least twelvg month8 from whon the financial stalgments are authorised fof IS8ue. Our resrx)nsibllilies and the responsibllitles of the Trustees wlth respect tr) going concem are ijescribed in thè relevant sections of this report. Other Inforniatlon Th8 other information comprises U)0 information Included in th8 annual report other than the financial statgmenls and our auditorfs report thereon. The TNstees ara responsible for the olhor information contained within the annual report. Our opinion on the financial stat8m8nts does not cover the oth8r information and wo do llot express any fomi of assurance conclusion thereon. Our responslbS1ity is to read the other infom)alion and, in doing so, consider whether the other infomialion is matsrially inconsistent with the financlal statements or our knowledge obtained in the course of the audit. or otherwise appears lo be materially misstated. If w8 identfy such rr7aterial inconsistencies or apparent material misstatements. we are required to detem)ine whether this gives rise to a material misstatement in the financial statements themsefves. If, based on the WO￿ we have performed, we conclude that thwe is material misststement ol this other infomiation, we are r¢quir8d to rep)rt that fact. We have nothing to report in this regard. Matters on whl¢h we are requlred to report by ox¢èptlon We have nothing lo report in respect of the following matters in relalion to which the Charities IAw)unts and Reports} R8gulalions 2008 require us to rgport to you if. in our opinion= the inf0m￿tIOn given ir¢ the financial Statements is inconsistenl in any matsrial respect wlth the Trustees, report- or sufficient aw)unting recxxd8 have not boen kept or the finan￿al ststements are nol in agreement svith the 8C(y)unting r8cords', or we have not received all the informatlon and explanatM)ns we require for our audit. YOUNG HARROW FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG HARROW FOUNDATION RgspDnslbllltl8s of Trustggs As explainod moro fully in the ststement of Trustees. reS[￿nsIbIlities. the Trustees are responsible for the preparation of tho financial statements and for being sa118fied that they give a trug and fair view, and for such intemal control as the Trustees delemiine is necessary to enabl& the p￿paratIon of financial staloments that aro free frorn material misstatement, whether due to fraud or emr. In preparing the financial statements, the Trustees are r8stonsible for assessing the Foundation's ability to continue as 8 going concgm. disdosing, as applicable, matters r8lat8d to goinq ￿nCerfi and using the going concem basis of accounting unless the Trustees either intend to cease op•rations. or have no rgalistic allemative but to do so. Audltorfs responslbllltl•$ for the audtt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report In accordance with Iho Act and relevant regulatiorts made or having effect thereunder. Our obiethes are to obtsin reasonable assur8nce aboul whether the financlal statements as a whole are free from material misststement, whether due to fraL¢d or error, and to issue on auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantge that an audtt conducted in accordance with ISAS {UKI wll always delect a material misstatement when ￿ exists. Misststemonts can arise from fraijd or error and Bre considèred matgrial if, individually or in the 8ggregate. they could reasonobly be expected to inllyence the economic decisions of users taken on the basis of these financial statements. The extènt lo which wr procedures are capable of detectino irrequlariti8s, includina fraud. 1$ datailad b81ow. Our approach lo identifying and assesslng th8 rf8ks of matèrial misstatement in respect of irregularities. induding fraud and nonncompliance with laws a￿$ regulations, was as follows.. the engagement partner ensured that the angagement taam collecttvely had the appropriate competence. Copabilities and skills to identify or recognise non-compliance wth appli¢ablg layrfs and regulations,. we identified the laws and regulations 8pplicable to the company through discussions with directors and other m8naoemenl. and from our kno￿edue 8nd eXDerier￿e'. we focused on speafic laws and r¢gulations vhiich we consld8red may have a direct materlal effect on the financ¥al ststements or ￿ operations of the company. • we assessed the extent of ￿mplianCe with the laws and regulatr'ons identified above through making enquiries of management and inspect*ng legal Corresponden￿ where applicable,. and Id6nt¢fied laws and regulations were commLsnicaled within the audk team r8gulady and the team remalned alart lo instances of non-complian￿ throuahout tho audS1. We assessed the suscepllbllfjty of the company's financial ststements lo matsrial misststemant, including obtsining an understsnding of how fraud mwJht occur. by= making enquiries of management as to Whe￿ they c*)nsidered there was susceptibllity lo fraud, their knowledge of actual, suspected and alleggd fraud., considering thè intsm81 controls in plarE to mibgate risks of fraud and non-compliance with laws arKI reoulalions- and To addrèss the risk offraud Ihrough marwement blas and ov8rride of controls. wg: Pgrformed analyti¢al procedures lo identify any unusual or unexpectsd relationships. lesled I￿rnal entries to identify unusual transactions- assessed whether judggmonls 8nd aysumptions made in d8t8rmining the accounting estlmales wer Indi¢allv8 of Dotential bias.. 8nd investi¢Jated th& rationale behind sianifi¢xnt or unusual transa￿lOn8. YOUNG HARROW FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG HARROW FOUNDATION In response to thg iisk of irreguladttes and nonwcompli8ne8 with laws and r8gulalon$. we designgd procedure8 which includgd. bjt not Umited to= agreeing finanGial statement disdosur88 to Under￿ng supporting documentation. reading th9 minutes of meetings ofthos8 (*arged with govemance: enquiring of managem8nt as to actual and pot9ntlal I[￿atic￿ and clalms.. reviewing relevant ￿Tro$pondenCe. There are Inhe￿nt limitations in our audit procedur88 described abovg. The more r8movad that laws and regulations ar0 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 non-compliance with laws and regulatson$ to enouiry of the dirertors and other management and the inspoctlon of regulatory and legal correspondence. if any. Material misststements that arise due to fraud can be harder to detect than those that arise from error as they may Involve deliberate con¢xlment or cc4lusion. A fiJth8r description of our wponsibilities Is available on the Flnancial Reporting Council's website at.. https:11 W1￿.Irc.org.ukj8tJ￿ito1srespOnSIb11Its8s. This description fomis part of our audllo¢s report. Use of our roport This ￿port Is made solely tr) the Chari￿s trustees, as a body. in 8¢cordaTKe with part 4 of the Challtres (Accounts end Reports) Regulation$ 2008. Our audll work has been undertaken so that we might state lo the Charity's trustees those mattets we are required to state to Ihèm in an auditovs report and for no othar purpose. To the fullest extent permitted by law, we do not accEpt or assume responsibility to anyone other than the charlty and the charl￿8 trustees as 8 bL¥Jy. for our audit work. for this report, or for the opinions we have fom)ed. Robert Kirtland {S•nlor Statutory Audttor) for and on ￿half of Crltchl8ys Audft LLP 251912023 Chartered A¢¢ountants Stathtory Audltor Beaver House 23-38 Hythe Bridge Str8Bt f)Yfnr OX12EP Crilchleys Audit LLP is eligible for appointmers* as auditor of the Foundation by virtue of ils ellglbility for appointment as auditor of a company under section 1212 of the CompaniesAct 2006. YOUNG HARROW FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestrlcted Re¥trict¢d funds fund 2023 2023 Total Unrostrlctod Rostrlct funds funds 2022 2022 Total 2023 2022 Nots8 Incomè from: Donations and legades Inv8slments Other incomo 115,171 1.243 120.565 1.189.242 1.304.413 1,243 120,565 160.539 33 34,750 944.079 1,104,618 33 34,750 Total Income 236.979 1,189.242 1.426,221 195,322 944,079 1,139.401 nditure Ralsing funds 781 781 1.381 1,381 Charitable actlvftl8s 222.570 1,141,968 1,364.538 255.710 951.837 1.207.547 Total èxp•ndlture 223,351 1,141,988 1,365,319 257.091 951,837 1.208,928 Net Incomlnglloutgoingl r•sourc•s belore transfer8 13,628 47,274 60.902 161,769} 17,7581 {69,5271 Gross transfers betsv88n funds 11,5021 1,502 16111 611 Net Inconwlloxpgndltur•) lor the yearl Net movomonl In funds 12.126 48,776 60,902 {62.3801 (7.147) {69,527} Fund balances at 1 ADriI 2022 168.092 22.853 1￿.945 230.472 30.000 260.472 Fund balancos at 31 March 2023 180,218 71.629 251,847 168,092 22.853 190,945 The 8tat8ment of financial actlvlues Include$ all 9ains and losses r8cognl8ed in the ￿r. I Income and expenditure derive from continuinq actÈwtigS. YOUNG HARROW FOUNDATION BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Current auets Debtors Cash at bank and in hand 12 93.492 418.508 600 198,230 512.000 198.830 Credltors: amounts falllng dug vthhln ong year 13 1260,153} 17.8851 Net current assets 251,847 190,945 In¢ome funds Restricted funds Unrestriotad furKIs 15 71,629 180,218 22.853 168,092 251,847 190.945 The financ al statements were approved by the Trustee8 on .. Clafo Treasurer ington { YOUNG HARROW FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash Ilows from opgratlng actlvltlos Cash generated fromllabsort)od by) operations 18 219,035 (66,181} Invostlng activltlos Investh)ent inwmo foceiv 1,243 33 Net cash genernt•d from Inv•sting actlvltles 1,243 N•t cash used In fln•n¢ln4 actlvftl69 Not Incroa8el{dgcroas•} in cash and cash Oqulvalonts 220.278 {66,148) Cash and cash equivalents at l)eginning of year 198,230 264,378 Cash and Cash equivalents at •nd of y•ar 418,508 198,230 YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AC￿￿ntIng pollcles Charlty Infomiatlon Young Harrow Foundation is a Charitabfe In￿[rxIratad Organisalion (Charity no. 11635891 registeied in England and Wales, established by Oedaration of Trust dated 5 September 2015. Young Harrow Foundation constitutes a public benefrt entity as defined by FRS 102. 1.1 Accountlng ￿ny•fi*l0n The financial statements have bgen prepared in accordance wf£h the Foundation's Constitution, the Charities Act 2011. FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. (°FRS 102.) and the Charities SORP 'Accounting and Reporting by Charitias: State￿ent of RecOmm￿ded Practice applicable lo charities preparfng their accounts in accordance with the Financ*al Reporbng Standard applicable in the UK and Ropublic of Ireland IFRS 102}" (effective l January 2019). The Foundation is Public Benefrt Entity as deffned by FRS 102. The financial statements are prepared In 8lerlFng, which is the functional currency of the Foundation. Mon8tary amounts in thesè financial statemonts arE rounded to the nearest £. Thè finanrAal stat6ments have been prepared under the historical cost convention. Th8 principal accountlng polkles adopted are set out telow. 1.2 Going conc•rn At the tSme of approving the financial statements, the Trustees have a wsonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable fvture. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 CharStsble funds Unrostricted funds aro available for us$ at th8 discT81ion of the Trusts68 in fijrtherance of their charitable obj8ctive8. Reslrtcted funds aro subject to specific ￿n￿￿onS by donorslgrantor5 as to how Ihoy may be used. The purpos&s and l￿eS of the restricted funds are set out in the notes to financkryl statements. 1A Income Income is reco9ni88d when the Foundation is ￿alty enliued lo il after any performance conditions have b8gn met. the arnounls can be measured rgliablv. and it is probable that income wll bo received. Donations are accounted for as soon 88 their amount and receipt is certain. Donations indude GiftAid based on amounts recoverable at the accounting dal8. Donated goods and services are Sncluded at Ihe valuo to YHF where theso can be quantified. No amounts are Induded In these ffnanclal ststements for the serviw donated by volunteers or Tnjstees. Grants are re¢oqnlsed as receivabl6 when all conditSons for receipt have been complied with. Where donor- imposod reslricliorss apply to the timing of the retaled expenditure as a precondition of Ils use, the grant is treated as deferred income until those restrictions are meL 1.5 Expondlture Expendliure is accounl8d for on an accrual basis and classrfled under the following headings". Costs of raising fvnd8- comprise the direct and indirect costs of generating Income Charitable acttvities - comprise the direct and indirect costs of the activities und&rtaken to furthgr Ihe ourposes of the charbtv. YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollclos {Contlnued) Support costs 8r8 those functions that assist the work of the charitsble company but do not directty undertake fundraising or charitable adivities. Support costs Include general overheads 8nd governance costs Ilhose LY)sts incurred in the governance of the charity and its assets and are primarily associated with Gonslilulional and statutory requirements) and are allocated on the basis of staff time devoted lo each activity. 1.8 Cash and cash aqulvalonts Cash and cash equlvalents include cash in hand and deposi18 held at call with banks. 1.7 Flnaneial instruments The Foundation has elected to apply the provisions of Section 11 'B8sic Financial Instruments, and Section 12 'Olher Financial Instruments Issu8s' of FRS 102 to all of its financlal instruments. Finan￿al inStrUTh￿nts are recognised in the Foundation's balance sheet when the F¢yJndation berx)mes paty to the contractual provi8ions of the Inslrumenl. Financial assets and liabilrties are offset, with the net amounts presènted in the fin￿cIal statements. when there is a legally enforceable right to set off the Teco9nised amounts and there is an IntentSon to sètue on a net basis orlo realise the asset and sett¢e th& liabilitv simultaneouslv. 8asic flnan¢lal assets Basic financial assets, which include debtors and co$h and bank balar￿es, are initially measured al trans8¢tion price including transaction costs an(1 are subsequenuy carrsed at amortised cost using the effective interest method unless the arrangement conslitules a finanang Iransaclion. where the transaction is measured at the present value of the fulure receipts discounted at a market rale of interest. FSnancial assets classified as r8¢eivable withln one year are nol amortised. Ba$1¢ financial Ilablllties Basic financSal Ilabllities. indudlng credltors and bank108n$ are initially recognised at transaction price unless the arranggm8nl Constitutes a financing transaction, where the debt instrument is measured 21 tha present value of the future payments discounted 8t a market rate of Intere8L Flnancial Ilablllfjes ¢las8ffied as payable withln (w year are nol amortlsed. Trad8 creditors are obligations lo pay for goods or seNlces that h8ve been acquired in th8 ordinary course of operations from suppliers. Amounts payable ara classified as current liabilrtles If payment is due within one year or less. If not, they aro presented as nonthcurr8nt liabilities. Trade cr8dltors are recognised Inltlally at transaction prlce and subsequently measured at amortised cost using th8 effective Interest method. 1.8 Taxatlon Young Harrow Foundation is a regtslered Charlty and18 not subject to corwralion tax on its current activities. The Charity is r¥)t registered for VAT. 1.9 Rotlremont b•n Payments lo defined ¢ontributi¢)n roliremnt benefit schemes are charged as an expense as they fall due. YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Critical aeeounting estimat•s and judgements In the appli¢aUon of the Foundallon's accounting poll¢l8s, the Trustees arè required lo make judg8mènts, estimates and assumptlons about the carrylng amount of assetg and Ilablllties that are not readily apparent from other sources. The estimates and associated assumpt6ons are based orb hislorical expe￿enCe and other factors that are considered to be relevant. Actual results may differ from these esUmat8s. The estimates and undedying assumptions arp roviewed on an ongoing basis. Revisions lo a¢¢ounting &stimates are rewni5ed in the peri(￿ in which tho estimats is revisad whero the revision affects only that parfod, or in the porfod of the revision and fvturo periods where the rewsion affècts both currgnt and fvlure periods. Donations and lfjgacl•s Unrestrict•d Restricted fund¥s fvnds Total Unrestricted Restrfcted funds fijnds Total 2023 2023 2023 2022 2022 2022 Donations and gifts Grants for charkab activities Donated ge￿$ and services 171 18,741 18,912 9.120 8.700 17,820 100,000 1.170,501 1,270.501 136,419 935.379 1,071,798 15.000 15,000 15.000 15.000 115,171 1.189,242 1,304,413 160,539 944.079 1,104,618 Donatlons and gifts DVS FourKlation Specsavers Hyde Housing John Lyons sch￿)[ John Kirkland Other (lonations & grft ald 11.650 11.650 4.500 2.500 2.435 1.000 7.385 3.741 3,741 2.435 1,000 5,685 171 3,350 3.521 1.700 171 18.741 18.912 9,120 8.71)0 17,820 YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donatlons and legacles (Contlnu•d) Grnnts ro¢•lvable for cora a￿1vItIeS John Lyon's Charity City Bridge Trust Paul Hamlyn Foundat(on Harrow School Harrow Counal Preffl￿r EducationlRZ Sports Ltd COVID Govemment Grant Crown St Small Grants 100.000 100,000 39,189 200,000 39,189 30,000 146,970 811,038 58,400 41,250 30,000 3.000 801,446 58,400 41,250 30,000 3.000 936.858 30.000 146.970 811,038 135,412 1,283 1.283 1,007 1,007 34.050 9.254 34,050 9.254 130,000 1.140.501 1.270,501 136,419 935.379 1,071,798 InvA%tmAnt% Unrn8tri¢lèd Unrestrkted funds funds 2023 2022 Intsresl re￿1vable 1,243 33 Oth•r in¢omg Unre8trlcted Unrestrlcted fijndx funds 2023 2022 Other Income YPF webstte Help Harrow Website Core Cost cOnt￿but￿on 8,470 24.340 7,350 80.405 21.400 13.350 120.565 34.750 YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charltable actlvltles 2023 2022 Staff costs Small grant8 to organisations Other grant giving activities lin¢. Build Back Better. HAF grants) Support membgrs lo build capacity (YPF webslle dèvelopment, Help Harrow website elc} 214,545 45,627 993.468 204,791 63,883 811,504 52.482 36,996 1.306,122 1.117.174 Share of support Costs {see note 81 Share of govemancè costs (see nota 8) 53,916 4.500 85.855 4,518 1.364,538 1,207,547 Analysls by fund Unrestricted ftjnds Reslricled funds 222,570 1,141,968 255,710 951.837 1,364,538 1,207,547 YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 Grants payabl 2023 2022 Grants to institthlons: My Yard Angel Hands FOunda￿n Harrow Carers Sweet Sciet)ce The Wish Cantro Ltd Wattord FC Community Sp￿$ Edu Tru81 Kids Can khieve Ignite Tnjst Afghan Asso¢l8tlon of LorKlon (Harrow} MAGNA Group Enlerprises Khul The Panty Prfmary Sporttng Development Fit For Sport Ltd Steps to Success Academy Film Skool Deluxe London'8 Community Kitchen Eden Academy SKIPZ Produdions CIC Active Sporting Communities CIC StAlbans Church Arts for Life MIND Home Gr￿p CoffeeAfrik CIC Tamil Assooation Alridha Foundation Harrow Schcx)I Flash HASVO Fresh Arts CIC Thg Josh Hanson Charitable Trust Family Action Unique community Charity ergy Theatre Project Kenmore Park Junlor Schocl One Place HOPE Harrow Family Leaming Nefv￿rk Centre forADHD & Autism Support Christ Church Roxeth PCC Creative Futures 4 U Super Star Sport West London Harrow St Mary's Youth Footba51 Mathsmakers Community Connex A Sports Ltd Urban Flyers CIC Other organlsation5 27,646 25,683 41,000 25,990 8,000 16,821 22,840 5,342 15.000 16,345 19.098 5.380 312,017 249.500 21.686 53.276 40.170 31,645 30,827 27.322 24,490 23.904 22,999 22.213 19,768 15.000 14,000 12,030 10.000 9,349 7.500 7,180 5,899 5.880 10,800 24.470 8,250 73.700 12,620 16.712 8.000 127.443 13,500 18,578 58.999 36.450 28,510 17.000 16,000 12.700 8,000 7,855 6,997 6,920 6,808 6,500 6,000 5.374 5,323 55.319 70.768 YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Grants ￿y*blO (ContlTruod) Totsl 1,040,355 875,387 Support costs Support Gov•man¢e costs 2023 Support Govornanc costs costs 2022 Offic8 rent Office suppliesl equipmentitelephonellT Subs¢rSpUonsllnsurance Travelltraininglvolunleer expenses Professton81 fees Accountancylpayroll fees Othar 15,000 15,000 18,468 18,468 20,214 3,289 20.214 3,289 26.927 1,908 26.927 1.908 502 781 14.883 28 502 781 14.883 28 246 1.381 37,025 1281 246 1,381 37,025 1,281 Audit foes 4,500 4,518 4,518 54.697 4.500 59,197 87,236 4.518 91.754 Anglysed between Fundraising Charitable activ¢ti88 781 53,916 781 58,416 1.381 85.855 1,381 90,373 4,500 4.518 54,697 4.500 59,197 87,236 4.518 91.754 Tru$tO0S No Trustees received remuneration from the Charlty in the year {2022.- Nil). One Trustee received an expense reimbursement of £52 from the Charity12022.' None). Two Trustees (Sanjay Chandarana and Steve Williams) hold p0S￿On$ at local youth organisalions that are mèmbers of Young Harrow Foundation. They hovo no inffuence in grant making decisions al Young Harrow Foundation. 10 Employ9•6 Th8 average monthly number of employe88 during th8 year was.. 2023 Number 2022 Number YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Employogs {Continu•d) Employm•nt costs 2023 2022 Wages and salaries So¢lal security costs Other pension costs Othar staff exp8ns6s 193,707 12.285 7.432 1,121 183,178 10.490 9,248 1.875 214.545 204,791 There were no employees whose annual remun8ralion was more than £60,000. Kgy management personnel are those persons having authority and respx)nsibilty for plannlng, directing and controlling the activities of the charity. The key management personnel of Young Harrow Foundation are the Tnjslees and the Chief Executiva Officer. Total femuneralion pald to key management personnel in the year amounted to £67,498 including employefs NIC12022= £64,238}. 11 Taxation The charity is oxempt from tax on income and gains falling within seclion 505 of the Taxes Act 1988 or section 252 of the Taxalionof Chargeable Gains Act 1992 to th6 extent that th8s9 are applied lo ils charitable objects. 12 Dobtors 2023 2022 Amounts falllng due wlthin on• y•ar: Other debloTS Prepayments and accrued income 2,460 91,032 600 93.492 13 Credltors: amounts falllng due wlthln on• year 2023 2022 Trnde fx0d1t￿S other creditors Accruals and deferred inccrfne 185 1,258 258,710 17 7.868 260.153 7,885 YOUNG HARROW FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Deforrnd income 2023 2022 othar d&ferred incomg 249,102 3,350 Deferred incom8 is included in the financial statements a8 follows.. 2023 2022 Deferred inwno 18 irduded wthin.. Current liabilities 249,102 3.350 Movements in th8 year.. Deferred Sncome al 1 April 2022 Released from previous perM)ds Resources deferred in the year 3.350 {3.350} 249.102 3.350 Deferred incL)me al 31 March 2023 249.102 3.350 Deferred income relates to grant in(a)me received duriw the year, which relates to Iho delivery ￿ sorvices after the year end. COO￿0￿*¢*0 ootn¢￿tINtr)o 000￿¢￿￿01rlO iOOX 20?￿￿1¢) ¢Drm 0000 UJrO￿o IQ O 000 Orffj Q£LV7UIllCJ(JI c24)82 E 0>>>> o)Ow J .ct