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2020-12-31-accounts

The Charity Registration Number: 1164713

The Young Barnet Foundation

A Charitable Incorporated Organisation Report and Financial Statements

31 December 2020

The Trustees

Matthew Lent Lizzy Hawkins (Chairperson) Jacob Knight Jonathan Beverly Jonathan Olanrewaju Sarah Pavitt (appointed on 14 January 2021)

Chair’s report 2020

I’ve been continually astonished this past year by the drive, passion and achievements of the Young Barnet Foundation team. In the first weeks of the COVID-19 outbreak, our CEO Janet Matthewson saw the potentially catastrophic impact that the pandemic could have on our members and, crucially, the children and young people of Barnet. In order to respond to the widespread needs and working with Barnet Together partners, a cross-sector taskforce was quickly mobilised, bringing together the community sector and our statutory partners. This enabled a joined-up response to the ever-changing needs of residents during the pandemic. I am in no doubt that Janet’s vision and drive, underpinned by the spirit of “generous leadership”, has not only helped to transform our relationship with Barnet Council, this with the work of Barnet Together has, in my mind, contributed to how the Council now wants to work with the whole voluntary and community sector in the Borough. There appears to be a renewed sense of ‘partnership’, not only in word but also in actions, as so much has been achieved through 2020.

This new relationship is symbolised by YBF’s new headquarters: a former library building which now houses a Food Hub and Community Coworking Hub, a space for members and partners to meet and work together. The preparation for which was beginning towards the end of 2020.

Young Barnet Foundations contribution to the Community COVID-19 response was made possible because we have always sought to work in partnership, respond to need and achieve ‘win-wins’ wherever we can. ‘Barnet Together’, our partnership with Inclusion Barnet and Volunteering Barnet, enabled us to respond swiftly and effectively to s, it allowed us to mobilise and support the whole community sector, working closely with our partners at Barnet Council. This work included the Barnet Community Response Fund, which has given out £104,825 (to 31.12.20) to community groups and food banks across the borough, enabling them to respond to the needs on the ground.

Janet, her team and Barnet Together partners fully deserve the three awards received during 2020: a Civic Award for ‘COVID 19 Community Heroes’ as part of her joint work with the Barnet Together partnership; the 2020 ‘COVID19 Inspirational Person’ award from the Barnet Group 2020 Community Awards and a Certificate of Recognition for ‘Outstanding Service to the Community’ from Barnet Council. We could not be prouder of Janet and our team.

The whole YBF team continued to deliver great support for our members throughout the year. We get great feedback from our members, who really value the practical support we provide, such as advice on accessing the Young Londoners’ fund which helped secure over £900,000 for our members. They also value the human side of our support: members have told us that they would have shut their doors without the care and encouragement offered by the team.

Our trustees have helped steer YBF through this incredibly challenging year. This year we said goodbye to two valued Trustees: Jacob Knight and Jennifer Small. We thank both of them for their contributions to the smooth running of YBF and wish them well for the future. At the end of 2020 we were in the process of welcoming a new trustee, Sarah Pavitt who accepted the role in December, Sarah will bring strong experience in risk management and governance, as well as great energy and care for the work that we do. Thanks to Jonnie, Lanre and Matt for all that you have done in 2020. COVID-19 has taken a huge toll on many of us, some greater than others and for many of our members, being small organisations, the strain of the pandemic has impacted them greatly, especially given the impact the pandemic has had on children and young people, increasing the needs and demand for our members’ services in Barnet. Much will need to be done to help the sector recover. So, I am very pleased that YBF finishes 2020 in such a strong position which will allow it to continue to work towards a world where every child and young person in the borough gets what they need to thrive.

Lizzy Hawkins

Chair

CEO’s report 2020

2020 proved a difficult year for most of us, as individuals and as organisations. The pandemic has thrown life as we know it into chaos, especially for our most vulnerable children, young people, and families. Inequalities and disadvantages that existed before the pandemic are evident like never before. However, Barnet do not face this alone; our findings as a borough, are not dissimilar to other London Boroughs, with food, fuel and digital poverty presenting as overarching needs, with longer term implications set to amplify these needs. I am grateful to my team for their hard work in supporting our members through these challenging times for remaining positive despite the presenting challenges and, most of all, being a source of support and advice for our members

We know that poverty will exacerbate existing underlying issues impacting families, children and young people including mental health, domestic violence, disabilities, emotional/physical abuse, and caring roles - and will have an acute impact on mental and physical health going forward.

Disruption to the education system, especially around exams/transitions will also have an adverse impact on children and young people. The future of the jobs market is a concern for everyone but especially our young people trying to break into the world of work and plan their futures, or those working their way through university. It doesn’t take a big leap to see that our most disadvantaged children/young people/families will suffer

disproportionately and will, in turn, need extra support to overcome the additional obstacles that the pandemic has placed in their way.

As a borough, we are incredibly lucky to have a diverse and resourceful voluntary, community, enterprise and faith (VCSEF) sector. As with most small and local charities, resources are often an issue but not surprisingly, they have shown great resilience in their response to the crisis. While our groups are, in the main, small and local, they are the very groups that operate at the heart of our communities; they hold trusted relationships and can reach our most vulnerable children/young people/families. They are what make our communities, safer, stronger and more connected. We may not always know that they are there, but we would feel their absence.

Be under no illusion, the coming months/years will take its toll on us as a sector. Therefore, it is imperative that we, as a sector, are included in the borough’s recovery planning to ensure a viable future for Barnet's community groups as they contribute so much to the borough’s wellbeing. Going forward, meeting the growth in need, will be too big a job for any one sector. We need to build on our community response to COVID-19 and face these issues and challenges together, so we can create better opportunities for all our children, young people and families, and also for the wider community.

Throughout this pandemic, we have watched “Generous Leadership” shine through in so many ways - not least with my team here at Young Barnet foundation who have been amazing in their efforts to support our members. We have watched members adapt their services, offering online sport training tips or mental health support over Zoom, delivering activity packs/food parcels to vulnerable families, or making/delivering fresh food to those in need. We are all immensely proud of our members, not only for their endeavours but also for their own generous leadership and in the way they have worked with us and others including foodbanks, who are worth a special mention as they have worked tirelessly to feed the borough’s vulnerable residents, coming together as a collective under the Community Response to support each other and share resources.

As a sector, we are still in a flux in many ways. No one can predict what comes next. How will the pandemic steer our future? How will the economy recover? How will we as a borough support our residents, communities, VCSEFs and businesses to recover? How will our children and young people cope and what additional support will they need to adapt to the “new normal”?

At the onset of the pandemic, Young Barnet Foundation, as part of Barnet Together, approached our strategic partners to form a joint Community Response Taskforce, a cross-sector partnership working together to support our residents, young and old, by combating the repercussions of the pandemic. Working together, has and will continue to drive support to where it is needed and that will make the challenges we face, as a borough, easier to overcome. This pandemic has brought us together, sectors standing side by side, helping to find solutions and to deal with this crisis head on. It has proved that while partnership working is not always easy, it is increasingly necessary. Partnership and collaboration on a strategic level will be needed now more than ever and we need to continue to take the “helicopter view” of our borough and talk to our groups, businesses, residents, young and old, and co-produce a plan for recovery; a plan that is ambitious and leaves no one behind!

For us, as Young Barnet, we know that we need to build on our partnerships with Barnet Together, the Local Authority, Barnet Multi Faith Forum, Councillors, Police, Public Health/ Clinical Commissioning Groups, Barnet Homes, Housing Associations, Education, our members/all VCSEFs operating on the ground, and local businesses in order to ensure that we continue to support our most vulnerable residents and for the borough to recover. Be in no doubt - we all have a part to play.

This pandemic has asked us to work differently, to work together more collaboratively and seek solutions quickly. Adversity has unlocked the greatest partnership potential we have ever known. We hope that 2021 will deepen this partnership even further and we can build on from 2020 as Generous Leaders and steer the Borough and its residents to a brighter future.

Janet Matthewson

Governance

The Board is responsible for Governance of the Charity and meets at least six times per year to fulfil its obligations, the CEO is appointed by the Trustees to manage the day-to-day operations of the charity. The CEO reports to the board and duly offers insight, advice and guidance to the Board on strategic and operational matters. To facilitate effective operations, the board has entrusted the CEO with delegated authority, within the terms of delegation approved by the Trustees for all operational matters, as per our policy and procedural documents as defined by the Board.

Out Mission

Space to Grow - ensuring that children and young people can access local opportunities, in safe spaces, to grow and develop to be the best that they can be.

A membership movement providing strong fundraising & capacity building support to local charities & community groups working with children & young people, supporting existing services, driving new initiatives, promoting partnerships and encouraging consortium working.

Our Vision

Where Barnet as one community, seeks to invest in all our children and young people, ensuring that they have opportunities for fun, growth, connection, success and celebration - helping today’s children become tomorrow’s confident, successful adults.

Overarching Objectives

Ultimate Goal - Creating a Barnet where all children and young people thrive.

What we wish to promote Communities that Care, underpinned by Generous Leadership, a partnership approach to addressing local needs - helping to create Stronger, Safer More Connected Communities

What we do (Summary)

INVEST investing money, knowledge, time, in Barnet’s Future

CONNECT people, organisations and communities.

GROW capacity, funding, opportunities, activities and services (sector development)

Space2Grow Children and Young People’s Fund

We continue to operate our Space2Grow CYP Fund, a place-based, grant scheme to promote partner and resident giving to enable us to fund local groups to run local services or meet emerging need. This year we have given out over £198,000 in grant form to our members to provide extra opportunities, activities and services for our children and young people.

Full details of the groups funded can be found on our website

Building Partnerships, Promotion, Collaboration and Capacity.

The ‘Barnet Together’ partnership is a great example of our ambition to grow Generous Leadership . A partnership between Volunteering Barnet, Inclusion Barnet and Young Barnet Foundation, it has enabled our resources to go further and speak with a stronger, united voice with other strategic partners in the borough. Our members have benefitted in the form of better access to training and events such as our Funders Fair. We have also launched a wellreceived Sector Manifesto , which sets out a framework for better cross-sector partnerships, which we believe is another great step forward for both the children/adults sectors but also for the wider stakeholders. The LA signed up to the Manifesto in June 2020, with more strategic partners set to follow.

www.BarnetTogether.org.uk Barnet Voluntary Sector Manifesto.

Another great example of Generous Leadership is our Youth Voice Survey. The survey was conducted by and for young people, and will allow us, and our members/partners, to ensure that future service delivery is shaped by and for young people. The work will continue into the new year and beyond and we are all really excited to see where this piece takes us, but more importantly, it also signals the commitment we have as an organisation to ensure that the voices of our young people are heard and can influence how services are shaped to support them. We are very grateful to our partners Kings College, Middlesex University, Barnet Homes. The Grange Big Local, Notting Hill Genesis, Partnership for Young London and Snapsurvey for their support and for

believing in our vision. Unfortunately, due to the pandemic, we had to put on hold our plans in regard to growing this strand of work but we hope that this is only the beginning for Youth Voice in Barnet!

All of our work and partnerships are underpinned by Generous Leadership, we encourage all our members and partners to do the same and commit to being Generous Leaders - to be generous with their time, support, skills, information, resources, power, and in recognising the contributions of others.

Generous Leadership creates that space to motivate, inspire and empower all of us to do more within our communities, it allows us to trust and collaborate so that our residents are the true beneficiaries. So, as Generous Leaders let’s look up and forward so that together we can help create safer, stronger, more connected communities in Barnet, so all our residents thrive.

Working towards a Stronger, Safer, More Connected Community!

Sector Representation

Young Barnet Foundation continues to represent the sector and our members on a number of key strategic boards. It is important that we ensure that the sector’s voice is heard, that they are visible and their contribution to a safer, stronger, more connected borough is recognised. This ensures that all partners can take the helicopter view of the borough’s development including the contribution of the VCSE, their development needs - all balanced against the needs of our children and young people. By working together, we can ensure that every child has the opportunity to thrive.

COVID Response

COVID presented a huge challenge for everyone. Young Banet Foundation, as part of Barnet Together, were instrumental in setting up a cross-sector COVID-19 taskforce. This work was in addition to the support we knew that our membership would need, so we were stretched as an organisation. However, we were not living in ordinary times, our support was need and we stepped up.

COVID- 19 Overview - Strategic Support Structure.

Young Barnet

Foundation responded in the following ways to the crisis, firstly for our Membership

"IT WAS CLEAR MEMBERS NEEDED FUNDING AND DIGITAL SUPPORT AND HELP WITH PUBLICISING THEIR OFFER"

OUR OFFER TO MEMBERS

We

Key Stats on member engagement

190 members attended our Network Meetings

420 1-2-1 meetings / support between staff and our members

144 meetings with strategic partners.

COVID Taskforce

Through the COVID Taskforce and in conjunction with Barnet Together partners and the Local Authority, we

This allowed us to

Barnet Community Response fund

At the outbreak of the Coronavirus pandemic in March 2020 the Barnet Community Response Fund was launched

as part of the partnership response to address the needs presented by the pandemic. Since then, it has helped

thousands of Barnet residents by awarding funding to community groups working across the Borough.

The residents of Barnet have been incredibly generous in their donations and the fund has also been supported by the London Borough of Barnet, providing financial contribution and helping our community to support each other during the lockdown periods.

Nine waves of small grant funding along with a Main Grant have been awarded (details here)

This is an independent fund, administered on behalf of Barnet Together by Young Barnet Foundation. Grant awards are assessed by a cross-sector panel, and it is open to all community and charity groups supporting the Coronavirus community effort in the London Borough of Barnet. During the pandemic our community groups and volunteers provided extraordinary levels of support, from running food banks, cooking, and delivering hundreds of meals to collecting shopping for those in vulnerable categories or self-isolating. We salute everyone involved in this effort.

Full details of the groups funded can be found on our website.

Barnet Food Hub

As part of our response to supporting our community to address the impact of the pandemic the Barnet Together partnership took over the running of the central supplies from Barnet Council. Known as the Essential Supplies Hub, YBF provide the strategic support with Groundworks London providing the operational support to aid in the provision of essential food supplies to foodbanks/community groups throughout Barnet.

The Food Hub has centralised distribution networks in the borough which helps provide extra support to our community whilst also diverting food away from the waste cycle.

Our aim is to ensure that our foodbanks have the ability to provide sufficient, safe and nutritious food to all those who use their services. All of this supports the Borough’s priorities in addressing food poverty and insecurity. It is a strong platform to promote positive messaging in a fight against food insecurity and the creation of a more resilient food system in Barnet, building on the joint work and commitment established during the fight against Covid-19.

The operational lead for the Hub is Groundworks, with strategic leadership being offered by our CEO Janet Matthewson and Katrina Baker Groundworks.

Cross-Sector Partnership on Food Insecurity

Supporting the borough’s approach to food poverty/insecurity through working with our statutory partners to support the Food Security Action Plan.

Food Insecurity Overview

The Coming Year looks to be even more challenging, however we are excited about the unlocking even more potential in terms of a crosssector partnership approach.

Financial Review

Results for the period

These accounts represent the results of the charity for the period from the start of the financial year on 1st January 2020 to 31st December 2020. During the period the charity had total incoming resources of £706,575 and total outgoing resources of £596,940 resulting in net outgoing resources for the year of £109,636.

Reserves policy

The Young Barnet Foundation general reserves represents funds of the charity that are freely available excluding designated funds and restricted funds. The Trustees have set a desired general reserve level of six months operating costs to allow for a reduction in services of the organisation in the event of reduced funding. With the infancy of the Young Barnet Foundation it is the Board of Trustees aim to be at three months operating costs at the end of 2020. The general reserves of the Young Barnet Foundation at 31[st] December 2020 was £88,615. The YBF holds a full Reserve Policy and Procedure document.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

The trustees are responsible for keeping adequate accounting records that disclose; with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by Trustees on

Date: 29 October 2021

Jonathan Beverly, Treasurer

The Young Barnet Foundation

INDEPENDENT EXAMINER'S REPORT

I report to the trustees on my examination of the accounts of The Young Barnet Foundation for the year ended 31 December 2020.

Responsibilities and basis of report

As the trustees of the charitable incorporated organisation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charitable incorporated organisation’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 you as trustees concerning such matters. 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.

Independent examiner's statement

Your attention is drawn to the fact that the charitable incorporated organisation has prepared accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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.

Zakaria Pathan 29 October 2021

Accounts Surgery Ltd 395 Seven Sisters Road London N15 6RD

The Young Barnet Foundation

Statement of Financial Activities Year ended 31 December 2020

Note
Income & Endowments
Donations & Legacies
2
Activities for generating funds
3
Charitable activity
4
Total incoming resources
Expenditure on:
Costs of raising funds
5
Charitable activity
7 & 8
Total resources expended
Net Income/(Expenditure) for the year before
transfers
Transfers between funds
Net Income/(Expenditure) for the year
Net movement in funds
Balances brought forward at 1st January 2020
Balances carried forward at 31st December 2020		 Unrestricted
Funds
£
166,433
3,982
-
170,415
20,778
146,416
167,194
3,219
3,219
3,219
85,395
88,615		 Restricted
Funds
£
-
-
536,161
536,161
-
429,745
429,745
106,415
106,415
106,415
18,034
124,449		 Total Funds
2020
£
166,433
3,982
536,161
706,575
20,778
576,162
596,940
109,636
109,636
109,636
103,429
213,063		 Total Funds
2019
£
176,448
10,226
145,098
331,772
12,054
278,370
290,424
41,348
41,348
41,348
62,081
103,429

All disclosures relate only to continuing activities. All gains and losses in the year are included above.

The Young Barnet Foundation

Balance Sheet As at 31 December 2020

Note
Current Assets
Debtors
11
Cash at bank and in hand
Creditors- amounts falling
due within one year
12
Net current assets
Total net assets
Funds
Restricted
13
Unrestricted -
General		 2020
£
53,223
217,126
270,349
57,286
213,063
213,063
124,449
88,615
213,063		 2019
£
-
154,699
154,699
51,270
103,429
103,429
18,034
85,395
103,429

Approved by the Board of Trustees and authorised for issue on …………….. 29/10/2021 and signed on its behalf by: Name: Jonathan Beverly, Treasurer

The Young Barnet Foundation

Cash Flow Statement
Year ended 31 December 2020
Note
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period
The Young Barnet Foundation
Notes to the Cash Flow Statement
for the year ended 31 December 2020
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET
OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by operations		 2020
2019
£
£
62,429
75,578
62,429
75,578
-
-
-
-
-
-
62,429
75,578
154,697
79,121
217,126
154,699
CASH FLOW FROM
2020
2019
£
£
109,636
41,348
-
-
-
-
(53,223)
-
6,016
34,230
62,429
75,578		 2019
£
75,578
75,578
-
-
-
75,578
79,121
154,699
75,578

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 1.4.19
£
154,697
154,697
154,697		 Cash flow
£
62,429
62,429
62,429		 At 31.3.20
£
217,126
217,126
217,126

Notes to the Accounts for the year ended 31 December 2020

1 Accounting policies

Charity Information

The Young Barnet Foundation is a Charitable Incorporated Organisation. The principal address is 102a Watling Avenue, Burnt Oak, Edgware, HA8 0LN. At the end of the financial period Young Barnet Foundation moved from their principle address listed above to a new principle address at Old East Barnet Library, 85 Brookhill Road, East Barnet, EN4 8TE.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015)— (Charities SORP FRS 102).

The Young Barnet Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

Going Concern

The Trustees consider that there is no material uncertainties about the charity's ability to continue as a going concern

Grants

Grants are recognised as income when the entitlement to the grant is certain. Grants made towards the costs of specific activities and services are classified as restricted income. Where services are not fully delivered in the period the restricted income was received, the balance of the grant is held in restricted funds. Grants towards the cost of acquiring assets are classified as restricted income when received. A transfer is then made from restricted funds to unrestricted funds to reflect the purchase of capital items. Grants that provide core funding or a general contribution to the charity are included in voluntary income

Voluntary income

Voluntary income includes donations from individuals, trusts and companies, unrestricted grants and legacies

Donations

Donations are recognised in the accounting period in which they are received.

Investment income

Investment income is included gross or at the amounts receivable plus the attributable tax credit.

Fees and sales

Fees for the supply of services are recognised when earned. Income received in advance for services to be delivered in the following year is treated as deferred income and included in creditors. Deferred income in these financial statements is shown in Note 14 below.

Fund accounting

Restricted funds are subject to restrictions imposed by the donor or by the specific terms of the charity appeal. These are accounted for separately from unrestricted funds. Details of restricted funds are shown at Note 12. Unrestricted funds are those which are not subject to restrictions. Any surpluses are available for use at the discretion of the trustees in furtherance of the objectives of the charity.

Expenditure

Costs apportioned to activities include costs of staff time spent on each area of activity, costs directly incurred in order to deliver the activity, and support costs apportioned according to the ratio of staff time on the area of activity to total staff time.

Pension costs

The charity operates a group personal pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. Payments in respect of current service contributions are charged in the accounts as they fall due.

Fixed assets

Tangible fixed assets costing more than £500 are capitalised and depreciated over their useful lives and shown in the balance sheet at cost less accumulated depreciation. Depreciation is provided at the following rate: Computers and other equipment - 25% per annum.

Cash and cash equivalents

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

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Notes to the Accounts for the year ended 31 December 2020

VAT

Expenditure includes VAT which cannot be fully recovered from HM Revenue and Customs.

Liabilities

The accruals concept is applied. Liabilities are recognised as soon as a legal or constructive obligation arises.

Tax status

The company is a registered charity and is not liable to Corporation Tax on its current activities.

Critical estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods

Measurement of financial assets and financial liabilities

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Notes to the Accounts for the year ended 31 December 2020

2
Donations & Legacies
Grants
Donations
3
Activities for raising funds
Events
4
Charitable activity
Charitable activity
5
Cost of raising funds
Staff costs
Fundraising cost
Support costs		 Unrestricted
162,500
3,933
166,433
Unrestricted
3,982
3,982
-
-
13,398
4831
2550
20,778
Unrestricted
Unrestricted
£		 Restricted
-
-
-
Restricted
-
-
Restricted
£
536,161
536,161
Restricted
-
-
-
-		 2020
£
162,500
3,933
166,433
-
2020
£
3,982
3,982
2020
£
536,161
536,161
2020
£
13,398
4,831
2,550
20,778		 2019
£
175,998
450
176,448
2019
£
10,226
10,226
2019
£
145,098
145,098
2019
£
9,468
1,765
821
12,054

6 Independent examination fees

Included within governance cost is £1,400 (2019: £1,070) in respect of independent examination fees.

Notes to the Accounts for the year ended 31 December 2020

Restricted
7
Charitable activity
Consultancy
-
Charitable activity
39,378
Salaries
69,706
84,861
Staff Expenses
742
-
Grants
305,506
70,447
429,745
Support cost
13,059
-
Governance cost
1,400
-
84,907
429,745
£
Unrestricted
8
Analysis of support costs
Admin and
support
Charitable
activity
£
Staff expenditure
54,272
Office expenditure
5,219
9,414
Membership fee
297
536
IT expenditure
515
929
Finance & Insurance
1,209
2,181
61,510
13,059
Support costs have been apportioned using the ratio of time spent for each employee
9
Staff costs
Wages and salaries
Volunteer expenses
Staff expenses
Staff training
Recruitment
Pension costs
Allocated as follows:
Fundraising
Charitable activity
Administration and support
Average number of employees and average number of full time equivalent employees was		 2020
£
0
39,378
154,568
742
305,506
500,192
13,059
1,400
514,651
2020
54,272
14,633
833
1,443
3,388
74,570
2020
£
218,621
227
611
453
0
3,204
223,115
13,398
155,446
54,272
223,115
2020
12		 2019
£
-
1,575
14,170
111,666
1,300
109,964
238,675
15,368
1,070
255,113
2019
20,966
12,609
1,149
2,397
1,504
38,625
2019
£
136,648
54
505
397
375
2,449
140,428
9,468
109,994
20,966
140,428
2019
6

No employee received emoluments in excess of £60,000 per annum.

Notes to the Accounts for the year ended 31 December 2020

10 Board of Trustee expenses

No expenses were paid to Trustees. No remuneration was paid to any Trustee

11 Debtors
Accrued income
Other debtors
All debtors are recoverable within one year.
12 Creditors- amounts falling due within one year
Accrued expenditure
Grants payable
Taxation and social security
Other creditors
13 Restricted Funds
Holiday Hunger
Youth Voice
Young Londoners
Hendonian Trust
Co-op Fund
Community Excellence Framework
YBF Covid Projects
Enrichment Coordinator
Foodbank Support (Barnet Council)
Home Group Mural Project
National Lottery Reaching Communities
National Lottery Community Fund
Upshot
Barnet Community Response Fund (Covid-19)
Space2Grow Children and Young People Fund
National Lottery Awards for All
Holiday Hunger
Youth Voice
Young Londoners
Hendonian Trust
Co-op Fund
Space2Grow		 2020
2019
£
£
44,943
0
8,280
0
53,223
0
2020
2019
£
£
1,400
1,070
55,886
50,200
-
-
-
-
57,286
51,270
Balance
Incoming
Outgoing Transfer 31st December
2020
£
£
£
£
7,958
7,310
15,267
(0)
3,133
1,250
4,235
148
324
7,726
7,924
126
200
0
0
200
6,421
10,000
5,364
11,057
-
20,000
2,464
17,536
-
10,119
8,755
1,364
-
50,000
12,500
37,500
-
13,163
9,511
3,652
-
5,000
4,940
60
-
45,379
37,471
7,907
-
9,269
9,269
(0)
-
7,680
6,540
1,140
-
147,611
106,090
41,521
-
201,654
199,415
2,238
18,035
536,161
429,743
-
124,450
Balance
Incoming
Outgoing Transfer 31st December
2019
£
£
£
£
2,847
-
2,447
(400)
(0)
-
12,423
4,465
7,958
-
9,250
6,117
3,132
-
8,000
7,676
324
-
600
400
200
-
9,825
3,404
6,421
-
105,000
105,000
-
(0)
2,847
145,098
129,510
(400)
18,034
Balance
1st January
2019
£
£
Balance
1st January
2020
Movement in Resources		 2020
2019
£
£
44,943
0
8,280
0
53,223
0
2020
2019
£
£
1,400
1,070
55,886
50,200
-
-
-
-
57,286
51,270
Balance
Incoming
Outgoing Transfer 31st December
2020
£
£
£
£
7,958
7,310
15,267
(0)
3,133
1,250
4,235
148
324
7,726
7,924
126
200
0
0
200
6,421
10,000
5,364
11,057
-
20,000
2,464
17,536
-
10,119
8,755
1,364
-
50,000
12,500
37,500
-
13,163
9,511
3,652
-
5,000
4,940
60
-
45,379
37,471
7,907
-
9,269
9,269
(0)
-
7,680
6,540
1,140
-
147,611
106,090
41,521
-
201,654
199,415
2,238
18,035
536,161
429,743
-
124,450
Balance
Incoming
Outgoing Transfer 31st December
2019
£
£
£
£
2,847
-
2,447
(400)
(0)
-
12,423
4,465
7,958
-
9,250
6,117
3,132
-
8,000
7,676
324
-
600
400
200
-
9,825
3,404
6,421
-
105,000
105,000
-
(0)
2,847
145,098
129,510
(400)
18,034
Balance
1st January
2019
£
£
Balance
1st January
2020
Movement in Resources		 2019
£
0
0
0
2019
£
1,070
50,200
-
-
51,270
18,035
536,161		 429,743
-
124,450
Incoming
£
2,847
-
-
12,423
-
9,250
-
8,000
-
600
-
9,825
-
105,000
Balance
1st January
2019
£		 Balance
Outgoing Transfer 31st December
2019
£
£
£
2,447
(400)
(0)
4,465
7,958
6,117
3,132
7,676
324
400
200
3,404
6,421
105,000
-
(0)
2,847
145,098		 129,510
(400)
18,034

Notes to the Accounts for the year ended 31 December 2020 14 Analysis of net charity assets between funds

otes to the Accounts for the year ended 31 December 2020
14 Analysis of net charity assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
15 Grants Payable
Space2Grow 3
Space2Grow 5
Space2Grow 6
Space2Grow 7
Space2Grow 8
Space2Grow 10
Space2Grow 11
Space2Grow 12
Space2Grow 13
Space2Grow 14
Barnet Community Response Fund Waves 1-9
Barnet Community Response Fund Main Grant		 Unrestricted
funds
£
-
65,003
(1,389)
63,614

Grants above £10,000 are listed below: Space2Grow 14 – Persian Advice Bureau (PAB) £13,900 Space2Grow 14 – Barnet Refugee Service £17,500

16 Related party transactions

There were no related party transactions