REGISTERED COMPANY NUMBER: 09626315 (England and Wales) REGISTERED CHARITY NUMBER: 1165108
SHROPSHIRE YOUTH SUPPORT TRUST (A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
SHROPSHIRE YOUTH SUPPORT TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Chairman's Report | 2 | to | 4 |
| Trustees' Report | 5 | to | 7 |
| Independent Examiner's Report | 8 | ||
| Statement of Financial Activities | 9 | ||
| Statement of Financial Position | 10 | ||
| Notes to the Financial Statements | 11 | to | 17 |
| Detailed Statement of Financial Activities | 18 |
SHROPSHIRE YOUTH SUPPORT TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2020
TRUSTEES
Mr R J B Bland Mr R J Clowes Mrs A J Dixon Mrs V A Hart (appointed 19.9.19) Mr R C Hughes (resigned 16.9.19) Mr C J S Johnson Mr R D Kenyon-Slaney Mr M A K Paul Mr M C Stoddart Mrs C H Thomas (appointed 18.9.19) Mr R D Whitmore Mrs N Nichols (appointed 20.10.20) Mr H E D Strickland (appointed 24.6.20)
REGISTERED OFFICE Unit 3a Hazeldine House Central Square Telford TF3 4JL REGISTERED COMPANY 09626315 (England and Wales) NUMBER REGISTERED CHARITY 1165108 NUMBER INDEPENDENT EXAMINER TCA (Shrewsbury) LLP 4 Claremont Bank Shrewsbury Shropshire SY1 1RW
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SHROPSHIRE YOUTH SUPPORT TRUST
CHAIRMAN'S REPORT FOR THE YEAR ENDED 30 JUNE 2020
Background
The Shropshire Youth Support Trust (SYST) commenced operations in October 2015 at The SYST Enterprise Centre in Telford Town Centre and officially launched in September 2016.
Who are we?
SYST is a Charity that focuses on reducing unemployment by promoting enterprise, self-employment, and employability, via a range of specialist support measures primarily to young people based in the local areas of Shropshire, Telford and Wrekin and the Marches.
These measures are contained within our SYST ASYSTED BUSINESS 2 Year Programme which includes training, workshops, clinics, subsidised accommodation as well as access to both mentors and The ASYSTOR panel operated by established local businesses to sense check strategy and direction and provide financial support (provided by themselves).
We also provide bespoke support to schools, colleges and local authorities highlighting the potential and difficulties in pursuing a career of sustainable self-employment. In addition, we seek to provide many of the skills and knowledge that can lead people back into employment.
Our Mission is to empower our target groups to achieve their dreams, lead fulfilling lives and begin their journey into personal and financial independence. We support our clients to make life changing/enhancing choices to help overcome any barriers to success.
Which are our Target Groups that we help?
Young people aged between 15-30;
Unemployed or economically inactive people -long-term with multiple barriers;
Young people aged 18-24 who are not in education, employment, or training;
Unemployed disadvantaged people (e.g. homeless people, people with drug or alcohol dependency, persistent returners to Job Seekers Allowance);
Unemployed and inactive people with disabilities or health conditions (particularly existing claimants of unemployment benefits);
Ethnic minorities and those with English language needs;
Ex-offenders;
Lone parents including those on Income Support (IS); and
Other people with children, including teenage parents (18-20-year-olds).
What have we achieved so far?
In the 5 years since we launched the Shropshire Youth Support Trust (SYST) at Telford Town Centre we have: -
Helped to create over 197 new jobs in supporting the start of over 167 new businesses
89 have now completed their 2 years ASYSTED Business support programme and continued to trade
We currently support over 130 ASYSTED businesses
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SHROPSHIRE YOUTH SUPPORT TRUST
CHAIRMAN'S REPORT FOR THE YEAR ENDED 30 JUNE 2020
We have recruited some 15 established local businesses to provide financial and mentoring support to our ASYSTOR panel
We have provided advice and support to over 1055 individuals via SYST organised 1-2-1 meetings, workshops, clinics, and group training sessions all face to face
We currently have 28 volunteer mentors in Shropshire and Telford and Wrekin
We have developed a strong referral network of local stakeholders and partners
We are proactive in going into the community both physically and online to promote our services
How was SYST affected by Covid 19?
In March 2020, when the first "lockdown" was introduced, our own funds were critically low, funding and referrals for our programmes ceased, our Asysted businesses were impacted heavily and we furloughed our staff. Despite the lockdown restrictions, we provided an enhanced online presence providing limited support and sought new sources of funding
Since then, we have successfully applied for funds from the National Lottery Fund, the ESF Community Grant Scheme and the Social Enterprise Support Fund. We have reviewed and enhanced our support services to ensure we can help the growing number of unemployed young people anticipated to be seeking specialist help in the coming months. Our programmes and services have now been fully restored as we work with new partners providing support.
What is our Vision for the future?
We will reach and support more of our target groups via additional centres, hubs and outreach programmes
We will obtain sustainable funding for SYST by providing quality programs
We will increase the number of businesses occupying SYST Enterprise Centres
We will increase the number ASYSTED businesses that we support
We will provide more inspirational workshops/clinics both within SYST Enterprise Centres and in conjunction with our partner organisations both online and face to face
We will raise awareness of SYST activities to potential financial supporters
We will secure more Sponsors and Mentors that can be specifically allocated to support SYST ASYSTED businesses from Shropshire's established businesses
We will reopen a SYST Enterprise Centre in Telford to provide incubation units and an additional Centre in Shrewsbury
We will develop programs to support individuals either in prison or within the probation service
A Big Thank You
We are especially grateful to the many supporters who have enabled SYST to provide support.
These include:
SYST Financial Supporters who have provided invaluable funding to finance essential our services
SYST Sponsors who have provided financial support to "SYST Asysted" businesses and related projects
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SHROPSHIRE YOUTH SUPPORT TRUST
CHAIRMAN'S REPORT FOR THE YEAR ENDED 30 JUNE 2020
SYST Mentors and Business Coaches who have given their time and the benefit of their expertise free of charge
SYST Partner Organisations who have helped SYST in providing support services
We look forward to working with all our SYST supporters in years to come.
Robert Bland Chair of Trustees
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SHROPSHIRE YOUTH SUPPORT TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are:
- To promote the advancement of young people in life and to help them develop their capacities to enable them to become responsible members of society, in particular but not exclusively by:
(a) providing and supporting education, instruction or training in professions, vocations, industries, crafts trades or the skills needed in employment;
(b) making young people economically useful through the provision of assistance (including financial assistance) and encouragement whist their education is being advanced as aforesaid or whilst they are in the process of establishing new businesses or preparing for entering upon or engaging in a profession trade, craft or service;
(c) relieving unemployment
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The furtherance of such other purposes as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine
-
To support such charity or charities or such charitable purpose or purposes as the trustees shall in their absolute discretion think fit.
Significant activities
The activities, achievements and future aims of the charity are set out in the Chairman's Report.
Public benefit
The Trustees have given due consideration to Charity Commission published guidance on the public benefit requirements.
The Charity constitutes a public benefit entity as defined by FRS 102.
STRATEGIC REPORT
Financial review
Financial position
The net result for the year was a deficit of £1,437 (2019: a deficit of £37,798).
Reserves policy
It is the policy of the charity to maintain unrestricted funds which are adequate to fulfil the objectives of the charity, and ideally to cover at least 6 months running costs.
Any surplus funds are held in investments or short-term deposits to help maintain the income levels for future years.
The free reserves at the year-end were £28,343, being unrestricted funds less unrestricted fixed assets (2019: £38,291). This is slightly under 6 months running costs, but the charity is in the process of securing significant new training contracts and is confident that reserves will soon build up to the desired level.
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SHROPSHIRE YOUTH SUPPORT TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2020
STRATEGIC REPORT Financial review
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Principal risks and uncertainties
The Trustees have reviewed all major risks to which the charity is exposed and established systems to mitigate them.
The Trustees have been aware of the charity's dependence on the Trustees own time and energies, voluntarily donated.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by the Memorandum of Incorporation and Articles of Association at incorporation on 5th June 2015 and as amended by a special resolution registered at Companies House on 18th December 2015.
Recruitment and appointment of new trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Organisational structure
The Trustees meet on a quarterly basis to consider issues.
Induction and training of new trustees
New Trustees are appointed by the Trustees with reference to the needs of the charity and the particular attributes of the individuals under consideration. Induction and training of new Trustees is conducted by the Trustees.
Key management remuneration
The Trustees consider the Chief Executive as key management personnel of the charity, responsible for running and operating the charity on a day to day basis.
All Trustees give of their time freely and no Trustee remuneration or expenses were paid in the year.
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees (who are also the directors of Shropshire Youth Support Trust for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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SHROPSHIRE YOUTH SUPPORT TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2020
TRUSTEES' RESPONSIBILITY STATEMENT - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 11 December 2020 and signed on the board's behalf by:
Mr R J B Bland - Trustee
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INDEPENDENT EXAMINEFfs REPORT TO ThE TRUSTEES OF SHROPSHIRE YOUTH SUPPORT TRUST Indepondgnt oxaminerf$ rgportto the trustegs of Shropshire Youth Support Trust (Ihe Company'l I report lo the tharity trustee5 on my examination of the ac£ounts of the Company for the year ended 30 June2020. Responsibilities and basis of report As the charty's trustees of the Company larMI also its directors for the purposes of company Lqwl you are responsible for the preparation of the accounts in accordance with the WUiTements of the Companies Act 20061'lhe 2006 ACYI. Having Satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eluible for independent examination. I report in respect of my examination of your Charty's accounts as carried out under secb'on 145 of the Charibes Act 2011 1.the 2011 Ac¥}. In carrying out my examination I have followed the Direclions given by the Chanty CommisSK under 145{5) Ib) of the 2011 Act. Independent examinerfs statement I have compSeled my exafflinatKJn. I ¢0M tha no matters have o)me to my attention in wnecbon Trmth the examinab.on giving me CAuse to belEve.' accounting recL)rd5 were not kept in reswt of Ihe Ccxnpany as required by seth.on 386 of the 20C6 Act.. or the ac£ounts do not al{ with those re(>)$", or the accounts do not compty with the accounting requirements of section 396 of Ihe 2006 Act other than any requirement that the acLounts give a true and fair view whth is not a matter (r)nsidered as part of an independent examination., or the accounts have not t*en prepared in 1rdance with the methods and principles of the Statement of Recommended Prath. for aozounting and rwrts.ng by charitses (applicable to charib.es preparing their a(uunts in aCrdance with the Financial Reporb"ng Standard applicable in the UK and Republic of Irend IFRS 10211. I have no eontsms and have come aeross no other matters in connection wtih the examination to which attention should be drawn in this report in order lo enable a proFer understsnding of the accounts to be reached. C MoeLLL ll-, lU,j C Moewn-wlliams FCA Bsc TCA Ishrewsburyl LLP 4 CSaremonl Bank Shrewsbury Shropshire SY1 1RW Date. ...2.6th.. UQ&i.u.(kn. 2021 Page 8
SHROPSHIRE YOUTH SUPPORT TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 91,010 Charitable activities 4 General 3,517 Other trading activities 3 5,225 Other income 1 Total 99,753 EXPENDITURE ON Charitable activities 5 General 110,346 NET INCOME/(EXPENDITURE) (10,593) RECONCILIATION OF FUNDS Total funds brought forward 39,582 TOTAL FUNDS CARRIED FORWARD 28,989 |
Restricted funds £ 15,000 - - 38 15,038 5,882 9,156 21,559 30,715 |
2020 Total funds £ 106,010 3,517 5,225 39 114,791 116,228 (1,437) 61,141 59,704 |
2019 Total funds £ 39,205 - 15,740 49 54,994 92,792 (37,798) 98,939 61,141 |
|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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SHROPSHIRE YOUTH SUPPORT TRUST (REGISTERED NUMBER: 09626315)
STATEMENT OF FINANCIAL POSITION 30 JUNE 2020
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 12 646 - CURRENT ASSETS Debtors 13 150 - Cash at bank 31,804 30,715 31,954 30,715 CREDITORS Amounts falling due within one year 14 (3,611) - NET CURRENT ASSETS 28,343 30,715 TOTAL ASSETS LESS CURRENT LIABILITIES 28,989 30,715 NET ASSETS 28,989 30,715 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
2020 Total funds £ 646 150 62,519 62,669 (3,611) 59,058 59,704 59,704 28,989 30,715 59,704 |
2019 Total funds £ 1,291 1,040 59,464 60,504 (654) 59,850 61,141 61,141 39,582 21,559 61,141 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 11 December 2020 and were signed on its behalf by:
Mr R J B Bland - Trustee
The notes form part of these financial statements
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the disclosure exemptions for statement of cash flows and financial instruments as permitted by FRS 102.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% straight line Fixtures and fittings - 33% straight line
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2020
| 2. DONATIONS AND LEGACIES Donations 3. OTHER TRADING ACTIVITIES Rent received 4. INCOME FROM CHARITABLE ACTIVITIES Activity Grants General 5. GENERAL EXPENSES General 6. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Insurance Light and heat Telephone Postage and stationery Marketing Sundries Rent, Rates & Premises Internet Travel Accountancy Consultancy Services Office expenses Depreciation |
Direct Costs (see note 6) £ 110,346 |
2020 £ 106,010 2020 £ 5,225 2020 £ 3,517 Grant funding of activities (see note 7) £ 5,882 2020 £ 76,227 555 4,185 2,144 611 694 557 7,243 1,417 415 1,974 12,340 1,339 645 110,346 |
2019 £ 39,205 |
2019 £ 39,205 |
|
|---|---|---|---|---|---|
| 2019 £ 15,740 2019 £ - Totals £ 116,228 |
2019 £ 15,740 |
||||
| 2019 £ - |
|||||
| 2019 £ 59,591 312 1,876 1,880 - 2,697 1,466 10,160 1,360 1,174 1,581 1,200 1,349 645 |
|||||
| 85,291 |
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2020
7. GRANTS PAYABLE
| 7. | GRANTS PAYABLE | ||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| General | 5,882 | 7,501 | |
| The total grants paid to institutions during the year was as follows: | |||
| 2020 | 2019 | ||
| £ | £ | ||
| General | |||
| 5,882 | 7,501 | ||
| 8. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Depreciation - owned assets | 645 | 645 |
- TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 30 June 2020 nor for the year ended 30 June 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2020 nor for the year ended 30 June 2019.
10. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries The average monthly number of employees during the year was as follows: Administration No employees received emoluments in excess of £60,000. |
2020 £ 76,227 76,227 2020 2 |
2019 £ 59,591 |
| 59,591 | ||
| 2019 1 |
During the year there were 1 full time and 2 part time members of staff.
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2020
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 36,705 2,500 Other trading activities 15,740 - Other income - 49 Total 52,445 2,549 EXPENDITURE ON Charitable activities General 85,291 7,501 NET INCOME/(EXPENDITURE) (32,846) (4,952) RECONCILIATION OF FUNDS Total funds brought forward 72,428 26,511 TOTAL FUNDS CARRIED FORWARD 39,582 21,559 12. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment £ £ COST At 1 July 2019 and 30 June 2020 624 1,312 DEPRECIATION At 1 July 2019 208 437 Charge for year 208 437 At 30 June 2020 416 874 NET BOOK VALUE At 30 June 2020 208 438 At 30 June 2019 416 875 |
Total funds £ 39,205 15,740 49 54,994 92,792 (37,798) 98,939 61,141 Totals £ 1,936 645 645 1,290 646 1,291 |
|---|---|
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2020
| 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 15. MOVEMENT IN FUNDS At 1.7.19 £ Unrestricted funds General fund 39,582 Restricted funds Asystor Fund 21,559 TOTAL FUNDS 61,141 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 99,753 Restricted funds Asystor Fund 15,038 TOTAL FUNDS 114,791 |
2020 2019 £ £ 150 1,040 2020 2019 £ £ 560 150 3,051 504 3,611 654 Net movement At in funds 30.6.20 £ £ (10,593) 28,989 9,156 30,715 (1,437) 59,704 Resources Movement expended in funds £ £ (110,346) (10,593) (5,882) 9,156 (116,228) (1,437) |
|---|---|
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2020
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.7.18 | in funds | 30.6.19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 72,428 | (32,846) | 39,582 |
| Restricted funds | |||
| Asystor Fund | 26,511 | (4,952) | 21,559 |
| TOTAL FUNDS | 98,939 | (37,798) | 61,141 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 52,445 | (85,291) | (32,846) |
| Restricted funds | |||
| Asystor Fund | 2,549 | (7,501) | (4,952) |
| TOTAL FUNDS | 54,994 | (92,792) | (37,798) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Asystor Fund TOTAL FUNDS |
Net movement At 1.7.18 in funds £ £ 72,428 (43,439) 26,511 4,204 98,939 (39,235) |
At 30.6.20 £ 28,989 30,715 |
|---|---|---|
| 59,704 |
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SHROPSHIRE YOUTH SUPPORT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2020
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Asystor Fund TOTAL FUNDS |
Incoming resources £ 152,198 17,587 169,785 |
Resources Movement expended in funds £ £ (195,637) (43,439) (13,383) 4,204 (209,020) (39,235) |
|---|---|---|
The Asystor Fund is a restricted fund for allocation to successful Asysted businesses applying for financial support.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2020 (2019: £nil).
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