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2021-08-31-accounts

Annual report and financial statements Year ended 31 August 2021

Charity no 1164644

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Contents

Contents

Legal and administrative information 2
Trustees’ annual report 3
Independent examiner’s report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9

Registered charity no 1164644

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Legal and administrative information

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Legal and Administrative Information

Charity name Parallel Youth Enterprise
Charity registration no 1164644 (England and Wales)
Registered address Kingswood
Kings Chase
Crowborough
East Sussex, TN6 1RQ
Correspondence address c/o Safer Schools Office
Gipsy Hill Police Station
66 Central Hill
London, SE19 1DT
Trustees Pastor Lorraine Jones Chairperson
Graham Norman Treasurer
Rachel Bright Secretary
Callum Dann
Karen Stokes
Simon Thompson
Richard Wilson
Administrator John Street
Independent examiner Andy Nash Accounting & Consultancy Ltd
Units 24 & 25
Goodsheds Container Village
Hood Road
Barry, CF62 5QU
Principal bankers Lloyds Bank plc
137 North End
Croydon
Surrey, CR0 1TN

Registered charity no 1164644

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Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Trustees’ annual report

Trustees’ Annual Report

The Trustees present their report with the financial statements for Parallel Youth Enterprise (PYE) for the year ended 31 August 2021.

Achievements and Performance

At present there are 3 projects that come under the umbrella of Parallel Youth Enterprise. They are:

Aims and Objectives

The objects of Parallel Youth Enterprise are the following:

Delivering Public Benefit

Parallel Youth Enterprise’s objectives and activities fully reflect the purposes that the Charity was set up to further. Throughout the process of determining these activities, the Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

The Parallel Youth Enterprise (PYE) is proud of the successful partnership it has with the Metropolitan Police and other agencies.

The coronavirus pandemic continued to challenge the resources of the summer camps. By working together, the Met Police and the PYE delivered two summer youth crime diversion projects for young people who had experienced lock down for such a long time.

2021 saw a positive need to help give young people the chance to get the exercise they have missed, to release bottled up restraints and to meet up with friends or make new ones.

A visit to the Lambeth Summer Camp by The Police Commissioner, Cressida Dick, emphasized the importance that the Met place on youth crime diversion provision. She spent time talking with young people and answering many questions.

We continued to ensure distancing, sanitising, and safeguarding, the venue was thoroughly cleaned every evening and there were no reports of young people contracting the virus while at the project.

The Lambeth and Wandsworth Summer Camps tackled the issues of crime and deprivation by providing a programme of recreational and educational activities in a safe environment at two Project sites for hundreds of inner city 9 to 16-year-old young people during the long summer school holidays.

2021 saw a significant increase of referrals from social services and schools of those who required additional SEN support.

Lambeth

130 young people aged 9 to 16 attended the project at St Martin in the Fields School in Tulse Hill, an area which needed the project because it experiences gang and knife crime. New on and off-site activities were added and enjoyed by so many.

Registered charity no 1164644

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Trustees’ annual report

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Wandsworth

This was the 4th Wandsworth Summer Camp, attended by 99 young people and took place at St Cecilia’s School in the heart of Wandsworth. The activities mirrored those in Lambeth.

Of the reserves held at year end, £48,135 (2020: £20,483) related to unrestricted funds and £18,296 (2020: £56) related to restricted funds.

Principal Funding Sources

Activities

With most activity providers opening up there were 96 trips out which visited activity centres, ice skating, canoeing, trampolining, ten pin bowling, Tower Bridge, The Shard, minigolf, Herne Hill Velodrome, London Zoo. The weather was kind to us.

On site there were 318 sessions of assorted workshops and sport.

The Lambeth Boxing Awards continued to run on Wednesday and Saturdays for boys and girls mainly from the Angel Town Estate in Brixton. The project diverts young people from the possibility of their committing nuisance, anti-social behaviour and crime or perhaps being the victims.

The Charity's funding arises from voluntary donations, grants by individuals and charitable organisations and a nominal enrolment fee for the Summer Camps which is used for the year-round administration costs. A full list of principal donors can be found in the published Annual Review for 2020 and 2021 which are available from the Administrator.

Reserves Policy

The current level of funding, and projected pledged income is considered by the Trustees to be adequate to support the continuation of the PYE projects over the coming year and the financial position of the Charity is satisfactory. Reserves will inevitably diminish with budgeted expenditure on the forthcoming activities and this will necessitate the planned future fundraising activities.

Plans for Future Periods

It is the Trust’s intention to continue using the same format and planning / fundraising strategy as the present three projects that come under the umbrella of the Parallel Youth Enterprise. They are:

The Lambeth and Wandsworth Summer Camps for those aged 9 to 16 year old take place for 4 weeks during July and August at 2 or 3 project sites each year in areas where there is a need for such projects;

Lambeth Boxing Awards (LBA) is a community led noncontact boxing project which is overtly supported by the police. It is situated within yards of Angell Town Estate because it is Lambeth’s home of gang related crime.

Financial Review

Against the backdrop of ever limited resources of funding, it continues to be a challenge to ensure we have sufficient funds and adequate reserves to deliver and develop the Lambeth and Wandsworth Summer Camps in the way we wish.

Nevertheless, the Charity, with the aid of sound financial management and the support of both its Board and Administrator, has a sound financial base, which is constantly reviewed.

During the current financial year, the Charity achieved a surplus of £45,892 (2020: deficit of £58,766), increasing total reserves at year end to £66,431 (2020: £20,539).

Structure, Governance and Management

Governing Document

Parallel Youth Enterprise is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission (England & Wales). The Charity registration number is 1164644.

It is governed under its Constitution which was adopted on 9 December 2015.

Recruitment and Appointment of Trustees

New Trustees are appointed to the Board by the existing Trustees in accordance with the Constitution. The current Trustees would be pleased to hear from anyone who thought that they could make a contribution to the future running and welfare of the Charity.

There is a minimum of three Trustees required always, with no maximum number of Trustees.

Under the requirements of the Constitution, a third of the members of the Board of Trustees are required to retire at the annual general meeting.

The Constitution defines members as subscribers to the Constitution and other such persons as the Board shall admit to membership. The members of the CIO have no liability to contribute to its assets and no

Registered charity no 1164644

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Trustees’ annual report

Parallel Youth Enterprise

Annual report and financial statements Year ended 31 August 2021

personal responsibility for settling its debts and liabilities.

Trustee Induction and Training

Any new Trustee appointed would have an induction and training programme tailored according to need.

Related Parties

There are no related party transactions for the period.

Organisational Structure

During the past year Trustees have met regularly and remain responsible for the strategic direction and policy of the Charity. At present, the Board members are from a variety of professional backgrounds relevant to the work of the Charity.

The Board of Trustees engage the services of an Administrator who attends all Board meetings but has no voting rights. He has the responsibility for the yearround PYE administration, fundraising, planning, website maintenance and supporting the project teams. A scheme of delegation is in place for day to day responsibility both during the projects' summer programme and during the year.

Statement of Board of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the excess of income over expenditure for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Charity and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the financial and other relevant information included on the Charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that content of the annual review in pages 3 to 5 of this document meet the requirements of the Trustees’ Annual Report under charity law.

They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

This report was approved and authorised for issue by the Board of Trustees on 19 November 2021 and signed on its behalf by:

Pastor Lorraine Jones

Chair of the Board of Trustees

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Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Independent examiner’s report

Independent Examiner’s Report to the Trustees of Parallel Youth Enterprise (‘the CIO’)

I report on the financial statements of the CIO for the year ended 31 August 2021, which are set out on pages 7 to 16.

Respective responsibilities of trustees and examiner

The CIO’s Trustees are responsible for the preparation of the accounts. The CIO’s Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

This report, including my statement, has been prepared for and only for the CIO’s Trustees as a body. My work has been undertaken so that I might state to the CIO’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the CIO and the CIO’s Trustees as a body for my examination work, for this report, or for the statements I have made.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew Philip Nash ACA

Member of the Institute of Chartered Accountants in England and Wales – 2461833

Dated: 16 December 2021

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the CIO and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters.

Andy Nash Accounting & Consultancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry, CF62 5QU

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

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Statement of financial activities

Annual report and financial statements Year ended 31 August 2021

Parallel Youth Enterprise

Statement of Financial Activities

For the year ended 31 August 2021

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Year ended Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021 31 Aug 2020
Notes £ £ £ £
Income from:
Donations and legacies 3 10,834 105,350 116,184 24,425
Charitable activities 4 20,560 - 20,560 6,970
Total income 31,394 105,350 136,744 31,395
Expenditure on:
Raising funds 5 & 6 3,742 - 3,742 3,541
Charitable activities:
Summer Camps 5 & 7 - 87,110 87,110 86,620
Total expenditure 3,742 87,110 90,852 90,161
Net income/(expenditure) for the year 27,652 18,240 45,892 (58,766)
Reconciliation of funds:
Total funds brought forward 10 & 11 20,483 56 20,539 79,305
Total funds carried forward 10 & 11 48,135 18,296 66,431 20,539
----- End of picture text -----

The notes on pages 9 to 16 form part of the financial statements.

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Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Balance sheet

Balance Sheet

As at 31 August 2021

----- Start of picture text -----
Total Total
Funds Funds
31 Aug 2021 31 Aug 2020
Notes £ £
Current assets:
Debtors 8 26,390 4,425
Cash at bank and in hand 41,481 23,117
67,871 27,542
Creditors: amounts falling due
within one year 9 (1,440) (7,003)
Net current assets 66,431 20,539
Net assets 66,431 20,539
Funds of the charity:
Restricted funds 10 & 11 18,296 56
Unrestricted funds:
General funds 10 & 11 48,135 20,483
48,135 20,483
Total charity funds 66,431 20,539
----- End of picture text -----

The notes on pages 9 to 16 form part of the financial statements.

These financial statements were approved and authorised for issue by the Board of Trustees on 19 November 2021 and signed on their behalf by:

Pastor Lorraine Jones

Chair of the Board of Trustees

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Notes to the financial statements

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

Notes to the Financial Statements

1. Accounting policies

Basis of preparation of the financial statements

The financial statements have been prepared in accordance with ‘Charities SORP (FRS 102) - 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The effect of any event relating to the period ended 31 August 2021, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 August 2021 and the results for the year ended on that date.

Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.

The functional currency of the Charity is sterling and amounts in the financial statements are rounded to the nearest pound.

Going concern

The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the ongoing COVID-19 global pandemic has had no material impact on this assessment.

Legal status

Parallel Youth Enterprise is a Charitable Incorporated Organisation registered in England & Wales, and meets the definition of a public benefit entity under FRS 102. In the event of the Charity being wound up, the members have no liability with respect to outstanding liabilities. The registered address is Kingswood, Kings Chase, Crowborough, East Sussex, TN6 1RQ.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 10 of the financial statements.

Income

Income is recognised when the Charity has entitlement to the funds, any performance indicators 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.

Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.

Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.

Income from charitable activities is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred.

Expenditure and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated proportionate to total direct costs allocated to each project area, as outlined in note 4 of the financial statements.

Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Currently the Charity holds no assets above this limit.

Cash at bank and in hand

Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for

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Notes to the financial statements

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

1. Accounting policies (continued from previous page)

Debtors and prepayments

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

Creditors

Creditors 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.

Critical estimates and judgements

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions

that affect the amounts recognised in the financial statements. The capitalisation limit and subsequent depreciation policies for property, plant and equipment are sensitive to changes in useful economic lives and residual values of assets. These are reassessed annually. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Financial instruments

Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.

2. Comparative statement of financial activities

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
Notes £ £ £
Income from:
Donations and legacies 3 - 24,425 24,425
Charitable activities 4 6,970 - 6,970
Total income 6,970 24,425 31,395
Expenditure on:
Raising funds 5 & 6 3,541 - 3,541
Charitable activities:
Summer Camps 5 & 7 677 85,943 86,620
Total expenditure 4,218 85,943 90,161
Net income/(expenditure) for the year 2,752 (61,518) (58,766)
Reconciliation of funds:
Total funds brought forward 10 & 11 17,731 61,574 79,305
Total funds carried forward 10 & 11 20,483 56 20,539
----- End of picture text -----

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Notes to the financial statements

Parallel Youth Enterprise

Annual report and financial statements Year ended 31 August 2021

3. Income from donations and legacies

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £
Grant income 5,625 102,850 108,475
Donations 5,209 2,500 7,709
10,834 105,350 116,184
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
Grant income - 24,300 24,300
Donations - 125 125
- 24,425 24,425
4. Income from charitable activities
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £
Summer camp enrolments 20,560 - 20,560
20,560 - 20,560
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
-
Summer camp enrolments 6,970 6,970
6,970 - 6,970
----- End of picture text -----

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Notes to the financial statements

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

5. Total expenditure

----- Start of picture text -----
Direct Indirect Total
costs costs Funds
Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £
Expenditure on:
Raising funds 3,307 435 3,742
Charitable activities:
Summer Camps 76,975 10,135 87,110
80,282 10,570 90,852
Direct Indirect Total
costs costs Funds
Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
Expenditure on:
Raising funds 3,176 365 3,541
Charitable activities:
Summer Camps 77,701 8,919 86,620
80,877 9,284 90,161
----- End of picture text -----

Indirect costs have been allocated based on the proportion of direct costs attributable to each activity.

An analysis of charitable activities split between restricted and unrestricted funds can be found in note 7.

An analysis of costs of raising funds split between restricted and unrestricted funds can be found in note 6.

Indirect costs includes the following costs:

----- Start of picture text -----
Total Total
Funds Funds
Year ended Year ended
31 Aug 2021 31 Aug 2020
£ £
Administration costs 9,130 7,844
Governance costs:
Independent examination 1,440 1,440
10,570 9,284
----- End of picture text -----

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Notes to the financial statements

Parallel Youth Enterprise Annual report and financial statements Year ended 31 August 2021

6. Expenditure on raising funds

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £
Direct costs 3,307 - 3,307
Indirect costs 435 - 435
3,742 - 3,742
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
Direct costs 3,176 - 3,176
Indirect costs 365 - 365
3,541 - 3,541
7. Expenditure on summer camps
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £
Direct costs - 76,975 76,975
Indirect costs - 10,135 10,135
- 87,110 87,110
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
Direct costs - 77,701 77,701
Indirect costs 677 8,242 8,919
677 85,943 86,620
----- End of picture text -----

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Notes to the financial statements

Annual report and financial statements Year ended 31 August 2021

Parallel Youth Enterprise

8. Debtors

----- Start of picture text -----
Total Total
Funds Funds
31 Aug 2021 31 Aug 2020
£ £
Accrued grants and summer camp enrolments 26,390 4,425
26,390 4,425
----- End of picture text -----

Accrued grant income and summer camp enrolments consist of various small amounts, totalling £22,550 (2020: £1,625) received in the next financial year relating to the summer camps held in August of the

current financial year as well as grant income received in arrears for the August summer camps totalling £3,840 (2020: £2,800).

9. Creditors – amounts falling due within one year

----- Start of picture text -----
Total Total
Funds Funds
31 Aug 2021 31 Aug 2020
£ £
Accruals 1,440 2,003
Deferred income - 5,000
1,440 7,003
----- End of picture text -----

Deferred income relates to £5,000 received in the prior financial year that was to be used to support the summer camps in August 2021.

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Notes to the financial statements

Annual report and financial statements Year ended 31 August 2021

Parallel Youth Enterprise

10. Analysis of charity funds

----- Start of picture text -----
Funds Income Expenditure Transfers Funds
brought in the in the between carried
forward period period funds forward
Year ended Year ended Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £ £ £
Unrestricted funds 20,483 31,394 (3,742) - 48,135
Restricted funds:
Lambeth Summer Camps - 33,250 (33,250) - -
Lambeth Boxing Awards 56 - - - 56
Wandsworth Summer Camps - 5,000 (5,000) - -
Summer Camps - 67,100 (48,860) - 18,240
56 105,350 (87,110) - 18,296
20,539 136,744 (90,852) - 66,431
----- End of picture text -----

Restricted funds – Lambeth Summer Camps

This consists of a variety of grants and donations made to support the Lambeth Summer Camps held each year across the London Borough of Lambeth.

Restricted funds – Lambeth Boxing Award

This consists of a variety of grants and donations made to support the Lambeth Boxing Awards - a non-contact community/police run boxing project located in Brixton.

Restricted funds – Wandsworth Summer Camps

This consists of a variety of grants and donations made to support the Wandsworth Summer Camps trialled in August 2019 and continued in 2019 across the London Borough of Wandsworth.

Restricted funds – Summer Camps

This consists of a variety of grants and donations made to both summer camps.

----- Start of picture text -----
Funds Income Expenditure Transfers Funds
brought in the in the between carried
forward period period funds forward
Year ended Year ended Year ended Year ended Year ended
31 Aug 2020 31 Aug 2020 31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £ £ £
Unrestricted funds 17,731 6,970 (4,218) - 20,483
Restricted funds:
- -
Lambeth Summer Camps 13,186 3,800 (16,986)
Lambeth Boxing Awards 56 - - - 56
Wandsworth Summer Camps - 125 (125) - -
- -
Summer Camps 48,332 20,500 (68,832)
61,574 24,425 (85,943) - 56
79,305 31,395 (90,161) - 20,539
----- End of picture text -----

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Notes to the financial statements

Annual report and financial statements Year ended 31 August 2021

Parallel Youth Enterprise

11. Analysis of net assets

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
31 Aug 2021 31 Aug 2021 31 Aug 2021
£ £ £
Current assets 49,575 18,296 67,871
Current liabilities (1,440) - (1,440)
48,135 18,296 66,431
Unrestricted Restricted Total
Funds Funds Funds
31 Aug 2020 31 Aug 2020 31 Aug 2020
£ £ £
Current assets 27,486 56 27,542
Current liabilities (7,003) - (7,003)
20,483 56 20,539
----- End of picture text -----

12. Trustee remuneration

During the year, no Trustee received any remuneration (2020: £Nil). No members of the Board of Trustees received reimbursement of expenses (2020: £ Nil).

13. Related party transactions

During the year there were no transactions carried out with related parties (2020: £ Nil).

14. Guarantees and secured charges

As of 31 August 2021 the Charity did not have any outstanding guarantees to third partners nor any debts secured against assets of the Charity.

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