**Annual report and financial statements Year ended 31 August 2022** Charity no 1164644
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
**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
**1**
**Legal and administrative information**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
## **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
**2**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
**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 2022.
## **Achievements and Performance**
At present there are 3 projects that come under the umbrella of Parallel Youth Enterprise. They are:
- Lambeth Summer Camps
## **Aims and Objectives**
The objects of Parallel Youth Enterprise are the following:
- Lambeth Boxing Awards, a non-contact boxing club
- Wandsworth Summer Camp
- To help increase the development, wellbeing and education of inner-city young people through the provision of recreational, sporting and educational activities during the summer and throughout the year primarily within the London Borough of Lambeth, but also in other places where the CIO’s objects can be achieved. Also, to give young people the chance to stay safe, healthy and fit, get involved in decision making, increase self-worth and selfassurance and improve social and cultural understanding;
- To endorse good citizenship by diverting young people from the possibility of their committing anti-social behaviour and crime or perhaps being the victims. To enable police officers who work in the area and the young people who live there to meet in a non-confrontational atmosphere; and in turn improve understanding both within and beyond the projects; and,
- To work in partnership with the local police, Parallel Learning Trust, local authorities and other like-minded agencies to provide stimulating activities which encourage young people to use their leisure time positively and develop new skills and understanding which may help their future development.
## **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.
By working together, the Met Police and the PYE delivered two summer youth crime diversion projects for young people in Lambeth, Southwark Wandsworth and Merton.
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 disadvantaged young people during the long summer school holidays.
2022 saw a positive need to help give young people the chance to get some normality after experiencing a very challenging time during the Coronavirus times and to get back with their friends or make new ones.
A visit to the Lambeth Summer Camp by The Deputy Police Commissioner, Steve House, underlined the significance that the Met place on youth crime diversion provision.
We introduced two new initiatives a) the offer of joining the summer camps to those young people who came into police custody and b) work experience for a past project users who when reaching 17 came back as a volunteer last year and joined the 2022 summer camp team.
2022 saw a significant increase of referrals from social services and schools of those who required additional SEN support.
## **Lambeth Summer Camp**
159 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 encounters gang and knife crime.
## **Wandsworth Summer Camp**
The Wandsworth Summer Camp, attended by 96 young people and took place at St Cecilia’s School in the Centre of Wandsworth. The activities mirrored those in Lambeth.
Registered charity no 1164644
**3**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
**Trustees’ annual report**
## **Activities – both camps**
There were 96 trips off site trips which visiting activity centres, ice skating, canoeing, trampolining, ten pin bowling, Tower Bridge, minigolf, Herne Hill Velodrome, London Zoo. The weather was the best it had been for many years.
On site there were 355 sessions of assorted workshops and sport which included, music, dance, arts & crafts, video, face painting, computers, hair care and beauty together with football and hall sports.
The Lambeth Boxing Awards in Partnership with Dwaynamics ABC continues to run on Wednesday and Saturdays for boys and girls mainly from the Lambeth Borough. We have a Team of police officers working with a Team of Community Coaches providing a safe space of learning and development in non-contact and Amateur boxing for young people aged between 5 years - 11 years. We improve the health and wellbeing of children as well as diverting young people away from crime and anti-social behaviour. We work with vulnerable children which are NEET and children with disabilities. This year we Awarded 150 youth with boxing medals and awards we also had our Deputy Mayor for Policing and Crime Sophie Linden present the medals at Dwaynamics Gym in August 2022
Building trust and confidence is at the top agenda for the MET and is being echoed by the Commissioner of Police. I can confidently say that the Police officers working in our projects are achieving that with the young people that engage with our Charity
Board and Administrator, has a sound financial base, which is constantly reviewed.
During the current financial year, the Charity incurred a deficit of £6,590 (2021: surplus of £45,892), decreasing total reserves at year end to £59,841 (2021: £66,431).
Of the reserves held at year end, £59,785 (2021: £48,135) related to unrestricted funds and £56 (2021: £18,296) related to restricted funds.
## **Principal Funding Sources**
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 2021 and 2022 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.
## **Structure, Governance and Management**
## **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 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 non-contact 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 **4**
## **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
**Trustees’ annual report**
## **Parallel Youth Enterprise**
Annual report and financial statements Year ended 31 August 2022
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 expenditure over income for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- material departures disclosed and explained in the financial statements; and,
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities.
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 15 February 2023 and signed on its behalf by:
Lorraine Jones (Feb 15, 2023 15:14 GMT)
Pastor Lorraine Jones
## **Chair of the Board of Trustees**
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any
Registered charity no 1164644
**5**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
**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 2022, 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:
- examine the accounts under section 145 of the Charities Act;
- to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and,
- to state whether particular matters have come to my attention.
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:
- accounting records were not kept in respect of the CIO as required by section 130 of the Act; or
- the accounts do not accord with those records; or
- the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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: 15 February 2023
## **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.
Registered charity no 1164644
**6**
**Statement of financial activities**
Annual report and financial statements Year ended 31 August 2022
## **Parallel Youth Enterprise**
## **Statement of Financial Activities**
## **For the year ended 31 August 2022**
**----- Start of picture text -----**
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Year ended Year ended Year ended Year ended
31 Aug 2022 31 Aug 2022 31 Aug 2022 31 Aug 2021
Notes £ £ £ £
Income from:
Donations and legacies 3 125 76,939 77,064 116,184
Charitable activities 4 18,349 - 18,349 20,560
Total income 18,474 76,939 95,413 136,744
Expenditure on:
Raising funds 5 & 6 3,630 - 3,630 3,742
Charitable activities:
Summer Camps 5 & 7 3,194 95,179 98,373 87,110
Total expenditure 6,824 95,179 102,003 90,852
Net income/(expenditure) for the year 11,650 (18,240) (6,590) 45,892
Reconciliation of funds:
Total funds brought forward 10 & 11 48,135 18,296 66,431 20,539
Total funds carried forward 10 & 11 59,785 56 59,841 66,431
**----- End of picture text -----**
The notes on pages 9 to 16 form part of the financial statements.
Registered charity no 1164644
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**Balance sheet**
Annual report and financial statements Year ended 31 August 2022
## **Parallel Youth Enterprise**
## **Balance Sheet**
## **As at 31 August 2022**
**----- Start of picture text -----**
Total Total
Funds Funds
31 Aug 2022 31 Aug 2021
Notes £ £
Current assets:
Debtors 8 3,720 26,390
Cash at bank and in hand 57,561 41,481
61,281 67,871
Creditors: amounts falling due
within one year 9 (1,440) (1,440)
Net current assets 59,841 66,431
Net assets 59,841 66,431
Funds of the charity:
Restricted funds 10 & 11 56 18,296
Unrestricted funds:
General funds 10 & 11 59,785 48,135
59,785 48,135
Total charity funds 59,841 66,431
**----- 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 15 February 2023 and signed on their behalf by:
Lorraine Jones (Feb 15, 2023 15:14 GMT)
Pastor Lorraine Jones
## **Chair of the Board of Trustees**
Registered charity no 1164644
**8**
**Notes to the financial statements**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
## **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 2022, 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 2022 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
Registered charity no 1164644
**9**
**Notes to the financial statements**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
## **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**
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Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2021 31 Aug 2021 31 Aug 2021
Notes £ £ £
Income from:
Donations and legacies 3 10,834 105,350 116,184
Charitable activities 4 20,560 - 20,560
Total income 31,394 105,350 136,744
Expenditure on:
Raising funds 5 & 6 3,742 - 3,742
Charitable activities:
Summer Camps 5 & 7 - 87,110 87,110
Total expenditure 3,742 87,110 90,852
Net income/(expenditure) for the year 27,652 18,240 45,892
Reconciliation of funds:
Total funds brought forward 10 & 11 20,483 56 20,539
Total funds carried forward 10 & 11 48,135 18,296 66,431
**----- End of picture text -----**
Registered charity no 1164644
**10**
**Notes to the financial statements**
**Parallel Youth Enterprise**
Annual report and financial statements Year ended 31 August 2022
## **3. Income from donations and legacies**
**----- Start of picture text -----**
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £
Grant income - 76,939 76,939
Donations 125 - 125
125 76,939 77,064
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
4. Income from charitable activities
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £
Summer camp enrolments 18,349 - 18,349
18,349 - 18,349
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
**----- End of picture text -----**
Registered charity no 1164644
**11**
**Notes to the financial statements**
**Parallel Youth Enterprise**
Annual report and financial statements Year ended 31 August 2022
## **5. Total expenditure**
**----- Start of picture text -----**
Direct Indirect Total
costs costs Funds
Year ended Year ended Year ended
31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £
Expenditure on:
Raising funds 3,225 405 3,630
Charitable activities:
Summer Camps 87,404 10,969 98,373
90,629 11,374 102,003
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
**----- 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 2022 31 Aug 2021
£ £
Administration costs 9,934 9,130
Governance costs:
Independent examination 1,440 1,440
11,374 10,570
**----- End of picture text -----**
Registered charity no 1164644
**12**
**Notes to the financial statements**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
## **6. Expenditure on raising funds**
**----- Start of picture text -----**
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £
Direct costs 3,225 - 3,225
Indirect costs 405 - 405
3,630 - 3,630
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
7. Expenditure on summer camps
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £
Direct costs - 87,404 87,404
Indirect costs 3,194 7,775 10,969
3,194 95,179 98,373
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
**----- End of picture text -----**
Registered charity no 1164644
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**Notes to the financial statements**
**Parallel Youth Enterprise** Annual report and financial statements Year ended 31 August 2022
## **8. Debtors**
**----- Start of picture text -----**
Total Total
Funds Funds
31 Aug 2022 31 Aug 2021
£ £
Accrued grants and summer camp enrolments 3,720 26,390
3,720 26,390
**----- End of picture text -----**
Accrued grant income and summer camp enrolments consist of various small amounts, totalling £720 (2021: £22,550) 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 £3,000 (2021: £3,840).
## **9. Creditors – amounts falling due within one year**
**----- Start of picture text -----**
Total Total
Funds Funds
31 Aug 2022 31 Aug 2021
£ £
Accruals 1,440 1,440
1,440 1,440
**----- End of picture text -----**
Registered charity no 1164644
**14**
**Notes to the financial statements**
Annual report and financial statements Year ended 31 August 2022
## **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 2022 31 Aug 2022 31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £ £ £
Unrestricted funds 48,135 18,474 (6,824) - 59,785
Restricted funds:
Lambeth Summer Camps - 7,060 (7,060) - -
Lambeth Boxing Awards 56 - - - 56
Summer Camps 18,240 69,879 (88,119) - -
18,296 76,939 (95,179) - 56
66,431 95,413 (102,003) - 59,841
**----- 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 – Summer Camps**
This consists of a variety of grants and donations made to both summer camps.
## **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.
**----- 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 – 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.
Registered charity no 1164644
**15**
**Notes to the financial statements**
Annual report and financial statements Year ended 31 August 2022
## **Parallel Youth Enterprise**
## **11. Analysis of net assets**
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Unrestricted Restricted Total
Funds Funds Funds
31 Aug 2022 31 Aug 2022 31 Aug 2022
£ £ £
Current assets 61,225 56 61,281
Current liabilities (1,440) - (1,440)
59,785 56 59,841
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
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## **12. Trustee remuneration**
During the year, no Trustee received any remuneration (2021: £Nil). No members of the Board of Trustees received reimbursement of expenses (2021: £ Nil).
## **13. Related party transactions**
During the year there were no transactions carried out with related parties (2021: £ Nil).
## **14. Guarantees and secured charges**
As of 31 August 2022 the Charity did not have any outstanding guarantees to third partners nor any debts secured against assets of the Charity.
Registered charity no 1164644
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