REGISTERED CHARITY NUMBER: 1167816 Ambition Aspire Achieve Report of the Trnstees and Audited Finaneial Ststements for the Year Ended 31 March 2024 for Ambition Aspire Achleve Adroit Auditing Ltd Unit 8, Dock-OtTi¢e4 Surrey Quays R Axis Europe, MACE Construction Lid, Co-op, Tate & Lyle, Aspers, BNY Mellon, Val¢ro, Thought Machine, Janus Henderson, All Funds and BCLP Law. This included support leveraged by building new and existing relationships with corpornte supporters giving to Ambition Aspire Achieve as part of their variou5 CSR programmes and iniliatives. Many more individual supwrter¥ lo￿1 groups, schools and organisations kindly donated and supported our work, both by giving to our ap￿alS andlor supporting our fundraising events and initiatives during the year, including our annual benefit evening generously hosted by the Brick Lane Music Hall toivards the end of April 20?4. We have also been fortunate to work with a rdnge of Emrtner organisations who have supported the delivery of our work with children and young ￿Ople during Ihe year. This Includ￿ Newham Music, RIP Fitne&8: City of London O￿n Spaces: Step Change Studios, the Line London: The Outrunnets: Ocean Youth Trust: Outward Bound Trust: East Mersea Adventure Centre and Atlantic College (Wales). Key Aehlevements, Aetivltles and Events 2023-2024 The trutres are pleased to highlight a large nUM￿r of key achievements, highlights and su¢cesse5 over the couJ3e of the year which include: 'New BeginninES' Targeted Youthwork and Progression Support l. Delivering the second year of our current multi-ycar Children in Need projcct, providing 'Wellbeing Group, sessions and activitics at the Terence Brown Arc in ihe Park: reaching more vulnerdble children and young proplc with additional nee(Ls, including those eYtKriencing rising mcntal healih issues and multiple challenges. Building on a pilot project introduced ILst year at the Glyn Hopkin Abbey Hub: new funding was secured this year (a gtanl provided by LB Newhatn's Mental Health and Wellbcing piogramme) to dcliver a similar initative at the Strdtford venue. Across Ix)th our hubs, our WelllKing Groups reached 74 vulnerable children who enjoyed a range of activitiei trips and exEKricnces. including exciting day trips to venues, p arks and green spacLS and an ovemight rcsidential. 2. Our Multi-sports clubs al the Terene¢ Brown Arc in (he Park and the Glyn Hopkin AbEty Hub continued thi5 year, with ongoing funding provided by a Sport England grant and a neiv grant from LB Ncwham (via the London Mayoes VRU Fundl to support Abbey Hub delivery. 59 children and young people have enjoyed a wide variety of sports during sessions across Eoth our youth hubs during the year including cyclin& tennis. football, rounders: boxing.. skateboarding.. netball and basketball. A¢tivitie5 engaged vulnerdble and disadvantaged young people with the sessions having a positive imwt: improving confidence: wellking and physical health whi15t introducing participanls to new physical activities 80°/o young people attending sessions demonstraied positive outcomes, including leaming new sports and skills. Our mulii-sports progrdmme also Imefited from ECB endorsement, enabling children to enjoy cricket activities at both hubs during the Summer months. Page 4 Ambition Asplre Achieve Report of the Trustees for tht Year Ended 31 March 2024 3. A programme of after-schi)ol, w¢¢kend clubs and holiday athivities for young ￿0p]e (ages 8-12) accessing the Glyn Hopkin Ablw Hub. thanks to repeat funding provided by key corporate supporter BAIN Capital. Over 131 children nefited from activities (with 850/0 identified &s vulnerable andlor disadvantaged), with the v&st majority attending at least 8 sessions and over 800/0 demonstrating positive outcomes included improved confidence, improved wellt*ing, improved relationships with p eer5 and leaming new skillgabilities. 4. Continuing the delivery of our weekly youth hub5 al the Terell￿ Brown Arc in the Park, supported by funding )vided by the Royal Docks TrLLSt main grant programme and LB Newham's Prevent initiative. With funding secured for the year. 3 x weekly tenn-time groups have been delivered on Wednesdays, Fridays and Saturdays banded for different age groups (i.e.: 8-12 and 12-14). Sessions: regularly attended by up lo 25 young Feople Fer group, have delivered much needed youth activities for vulnerable and disadvantaged young wple: further estsbli5hing the sessions as Imrt of our regular timetsble of activities. 5. This year we opened up opportunities for young ￿Ople ages 15-17: thanks to new funding secured as part of the National Citizenship Service (NCS) grant programme. The targeted NCS grnnt was awarded in Summer 2023, with delivery commencing in the Autumn. During the year, 22 young Feople benefited from Slructured 18-week eX￿rienCes. aiding their peJ30nal development and life skills, whilst providing an opportunity to take part in a social action project (e.g., handing out food donations to the homeless in S tratford). 6. Participating in ihe Newham Kailo research project initialive as a Navigatorf Fqrtner. Led by UCL, the twject utilised res¢ar¢heJ3 working closely with l¢)cal young reople to improve and develop support for existing (and future) activilies aimed al improving their wellbeing. As part of the troject, 6 of our young ttople selecled from AAA youth clubs took in regular weekly sessions delivered over 6 months. 'No Mountsin Too High, Specialisi Support for Young People wilh Spetial Educatlonal Needs or Disabiltiies (SEND) l. Our Positive Trdnsilions group was renewed for a further 2 y￿S this year. Funded by the City Bridge Foundation: it provided activities, life skills/￿[SOnal development sessions, workshops and funlengaging day trips and ¢xperiences, deliVe￿d during te￿n-time Ftri(Kls for young people with SKtcial Educational Needs or Disabilities (ages 16-25) making the transition into early adulthood. This year, 44 SEND young F¢ople were engaged, anending al least 8 sessions, 82°/o of whom a¢hieved positive outcomes. Young people attending achieved a￿edited Arts Awards and enjoyed a wide range of activities and workshops, developing their life skills, creativity, confidence and wellixing. 2. Short breaks/r¢spite provision commissioned by the London Borough of Newham during the Easter, Summer and Christm&s sch(K)I holidays and October, February and May half-lern) breaks, providing iargeted supp)rt for 89 high-needs SEND children and young ￿0p]e (including those requiring one-to-one support).. who enjoyed a wide range of activities at the Terence Brown Arc in the Park, providing much needed respite for both young ￿0p[e and parents during school holiday ￿riodS. 3. Our SEND Yolbih Zones progrdmme, commissioned by the LB Newham's Youth Empowernient Team and delivered for the third year running, thanks to extended commissioning, supporting activities for another 2 years. The funding h enabled the delivery of daily after-school and holiday a¢iivilies for children and young people wilh Srecial Educational Needs or Disabilities ai Ihe TeJEnce Brown Arc in the Park, the Glyn Hopkin Abbey Hub and other Newham b￿d venues (e.g., St Luke's Community Centre, with local college b&sed sessions opening up for SEND young ￿0p]e al New Vic College, Plaistow and Newham College in E￿1 Ham). During the year clubs and activities engaged 125 SEND hildrenfyoung EKople: with all enjoying a wide range of fun, engaging activities: helping them to build confidence, learn new skills and improve wellbeing and physical health, supporting each participant to flourish in the lo nger-tem. 4. tklivering sch(K)I holiday progrnmmes (Easter, Summer and Christm&8 2022) for SEND childrenlyoung wple based out of Abky Hub, with 52 individual young people laking part during the year, thanks to funding provided by DtE's Holiday Activities Fund (HAF). The sessions delivered fun and healthy activities and trips along with much need healthy daily breakfasts and lunches for all attending, to wmbat holiday hunger Page 5 Ambition Asplre Achieve Report of the Trustees for the Year Ended 31 Mareh 2024 'Growlng Together, Play 4nd Communlty I. LEGO after school rlubs delivered ai both our hubs thanks lo the renewal of an annual grant received from the LEGO Foundation: including weekly clubs and a tailored sessions utilising LEGO a5 a medium to promote ther8￿ul1C play at the Terence Brown Arc in the Park for cE]ildren and young ￿0p]e with Special Educational Needs or Disabilities. Our LEGO themed sessions engaged 86 children during th¢ Course of the year, which included the opportunity io attend a LEGO Christmas party at their head office Eo5e in London, with all children taking part r¢¢eiving LEGO gift5 lo take home. 2. Providing support and activities for larger nurn￿rs of local families: including the delivery of regular family days and activities based out of our hubs in Canning Town and Strarford with further funding secured (from the Royal Docks Trust) to deliver a'Big Day Out,, including a day trip for larg¢ numbers to Adventure Island in Souihend-on-sea. 3. Delivering popup mobile playschemes during th¢ Spring and Summer, with funding secured from DtE's Holiday Activities Fund (HAF) to support the ongoing development and delivery of our Playwheels project. Utilising a play van full of games and play resources (with a van kindly loaned by AAA patron Glyn Hopkin), the project delivered regular mobile holiday play and youth activities in 4 local ￿@￿S and green spaces in Canning Town, Custom House and Beckton where they were needed most, targeting children with limiled access to holiday leisure activities. A total of 85 local children and young krople accessed 5ession5. 4. Universal holiday play5¢heme5, delivered during the E&8ier and Summer holidays and the OctoE£r half-temi break at the kn and Abbey Hub. with funding provided by the East End Community Foundation. Reflecting the growing need for holiday play activities, 157 children enjoyed holiday play a￿1VitIes, trips and excursion5 delivered as part of the clubs: including high number5 deemed as vulnerable and/or disadvantaged (e.g., those growing up in are&s of high deprivation impacted by poverty, children and young ttople with additional needs). 5. Thanks to securing a Heritage Lottery Fund grant, we launched a brand-new project early Summer: enabling young people to curate an ¢Nhibition at the recently regenerated Factory Project in the Royal Docks. 26 of our young t￿ople took part in play themed sessions and workshops during the Summer to infoml the exhibition, with workshops including art themed activilies, with volunteering support also leveraged to help to catalogue Newham Recor der archives. 6. Securing support to refurbish Arc in the Park's large adventure playground structure. During Summer 2023, corporate 5UPPOrter Morgan Sindell arrdnged for a team of carpenters/contractors to refurbish the structure. with teams S￿nding a week to make essential repairs: preparing the playground for future use. 'Rea¢hing Out, Outre#eh and Youth Safety Work l. Growing the delivery of our outreach work delivered in N￿ham, reaching many more young wple via a programme of detsched street-blsed sessions. This included the final year of delivery for the successful Act As One consortium programme (delivered in partnership with Fight for Peace, Rights and Equalities in Newham and the Exit Foundation), with additional funding provided by the Royal D￿kS Trust main grants progrdm, Sup￿rting our 'Projeet BLtrNT' initiativc and lurther funding providing by LB Newham (via thc Mayor's VRU fund) to support ongoing street b&"ed sessions in Stsatford. S￿7 young ￿PIe WLre engaged by our dctachcd youth workers during ihe year a5 a result of the funding. 2. A5 part of the above initiatives: additional early intervention in-schools wot* wa5 delivered by our Outreach Coordinator: imwiving youth safety.. prdominanily for primary schth)I children. During the year: youth safety sessions were delivered for 8 Newham primary schools (Y5 and Y6 pupils). reaching 1,564 children. with the v&8t majority repx)rting the sessions improved their understanding of online safety and stree t safety. Page 6 Ambition Aspire A¢hieve Report of the Trnslees for the Year Ended 31 March 2024 3. This year, a primary school transition programme was piloted between Apyil 23 and October 23 for Rosella Primary School. Funded by the Newham Safer NLighbourhood Board (via MOPAC), Ihe project delivered lrnnsition sUp￿)rt se&sions over 12 weeks for 12 young peoplc identified by tcachers at risk of making poor trnisition inio secondary school. Further session5 were delivered during their early stages in secondary school at the start ol the acadcmic year. The pilot was a success and we are hopeful of securing further funding in 2024-2025 to grow ihe initiative moving forward. 4. The successful COTnplction of our Green Influencer5 Scheme: funded by the Ernest Cook Trust. Delivered over 2 yLars, thc fund was extended to August 2023 and culminatcd in 107 young people recruitcd as 'Green Mentors,. Green Mentor activilies included a range of green s(Kial action projects delivered in parlnership with 6 local schools. a mix of nature-b&sed trips and participation in local green events. As a legacy ol the project our Green Mentor lead has moved inlo a new 'Outdoor Learning Coordinatorf position, taking a 1¢2d on developing a programme of outdoor learning activities utilising our new woodland facility. Wider Achievements and Aetivities 2023-2024 In addition to the aEK)ve achievements, delivered within our key delivery areas (as defined by ow Slrategy Plan), we can also reFQrt the following wider achievements and initiatives= l. Delivering a su¢¢essful programme of residentials, trips and exrEriences Ihanks to funding secured as part of the the Childhood TrustlEv¢ning Standard's 'On The Breadline, campaign at the start of the year. The funding enabled us to deliver a broader progrdmme of outward bound exF¢rien¢es and trips for vulnerable and disadvantaged young ttople during the year, who otherwise would not have had the opportunity, which included exciting residentials to venues in Wales (Ailantic College), the Lake District (Outward Bound Trust in Ullswater), Gloucestershire (Farnis for City Chilthrn), Mersea Jsland in Essex and a sailing trip around ihe Isle of Wight delivered in partnership with the Ocean Youth TrusL 168 children and young Feople knefited from the activities during the year. including ￿rtiCl[￿tIon in further day-lrips and leaming experiences (e.g., to Epping Forest and the Creekside Education Centre). The residentials and trips were transfom)ative for many.. with a high proportion of young t￿Ople enjoying their first experiences of out of borough trips/activities 2. Progressing the development of our recently secured w¢)odlandloutdoor adventure space in Stratford, Ihe Kevin Jenkins OBE Outdoor Learning Centre. With additional funding secured from BAIN Capital and LB Newham's People Powered Places fund, development work this year included extensive landscaping and clearing work, the installation of an outdoor classroom/log Cabin (kindly donated by LB Newham's Youth Empowerment Services), with extensive volunteer support providcd by our business partners during the year. readying the space with outdoor learning session beginning early on in 2024 (with further lunding secured from the London Marathon Foundation and Aspers Good Causes Fund to support delivcry). As part of the initiative, staff have also been Irdined to delivcrcd Outdoor Learning activitie5 in the space. 3. The completion of a brand new extension facility (and sum)unding outside landscaping work) at the Glyn Hopkin Abbey Hub, thanks to earlier grdnl funding received from the London Legacy Development Corporation (Ll.DC). Building work EEgan in Sutntner 2023 and w&s completed as the projcct schedule by the end of the financial year, creating a brdnd ncw space and Significantly improving the facilities for children, young peopleifamilies lo enjoy at the hub in the longer-trm. 4. Further improvements to outside spaces at Arc in the Park and Ab￿Y Hub, including the adventure playground refurbishment at the Arc and wider improvement5 made by corporate volunteers taking part in dedicated volunteer team days organised during the spring, summer and autumn months. 5. Building on our work as a licensed Duke of Edinburgh (DotE} awards provider, engaging young ￿0p1¢ a￿55 our programmes to aid their participation in the ￿h¢Me, undertaking and compl¢ting DotE Bron2e Awards. 6. An AAA celebration day organi5ed in the Autumn of 2023, Id by long-term AAA supporter Slan Harri5 OBE, including a sp¢msored waik between our delivery hubs in Canning Town and Strdtford, involving large numEtrs of children, young ￿0p1¢ and families to help rnise funds for our annual Christmas toy appeal. Page 7 Ambition Aspire Achleve Report of the Trustees for the Yvar Ended 31 March 2024 7. Organising our first annual awards evening in NovemiKr 2023, where we welcorned our young people and their families to a 5￿CIal celebration at the Terence Brown Arc in the Park. During the ceremony awards, certificates were given in a variety of areas including Jack Pelchey awards and young wple of the month nominations, with certificates awarded to those completing accredited Arts Awards and Duke of Edinburgh Bronze Awards. 8. Delivering a successful annual Christmas loy appeal during the festive season 2023, with the app￿] ￿achInE 2,897 disadvantagcd children referred by & variety of schools: social workers and agencic5. The apFeal was gencrously 5upI￿ed by 56 business partncrs: 3 schools: charilieslcharitable trusts. churche51faith-based groups.. local organisations and groups (e.g., Debordh Day Dance School and Romford Triumph Biker5 Group) and many morc generous individuals. As part of the appeal nearly 100 5c&sonal f(K)d ham￿rS wcre also delivered to families in need in time for Christmas Day. 9. Wider Christmas activities: including Christma5 parties 2nd Fontomimc5 organised lor local children and the return of our Community Christmas Trees cnlcrprise: Suc￿sSfullY delivering 170 real Christmas trees, p]rchased organisations, schools: churches and individua]s to rd15e core funding for our work, including a reFe￿ d¢liv¢ry to Numlxr I l Downing Street. 10. Our sixth annuai Easter Egg Appeal, wifh over 2,000 eggs donat￿ to local vulnerable children and young peopl¢ living in poverty. collected from a growing numiKr of donors including local business¢5, churches, schools and individuals. I l. With support from the Berkeley Foundation (thanks to a 2-year grdnt commencing this year), the recruitment of a Business Manager to add capacity to marketing and back office functions, whilst improving AAA'S website and branding. 12. Delivering an ongoing, rolling progrdmm¢ of staff training, to continue to develop our staff team whi151 continuing to strengthen our growing pool of experi¢n¢ed and qualified sessional sUp￿rt staff: youth workers and play workers: to ovetsee and deliver the various progrdmmes and activities we offer during the year. 13. Continuing to diversify our funding base, with new and existing support secured during the year, along with additional corporate SUPTK)rt rydising new donated income, with local and national businesses helping us further our work in 2023-2024, via direct giving, regular donations and volunteering. 14. Fonnulating our next Strntegy Plan (2024-2027) delivering leam and trustee strategy planning meetings io review our mi55ion, areas of work, arcas for development, to ensure we Ixst meet the nceds of ihe local communities wc serve in the longer-terni. l& Maintaining a prcscnce on key networks and forums: with the Chief Executive regularly attending local and regional groups including the Newham Youth Partnership.. youth safely networks, key VCS leadcr forums: LB Newham forums and regional forutnslnetwarks focuscd on childrenlyoung people (e.g.. London Youth, GLAIVRU, key funder network5). Key Challenges and Risk M8nagernent The opcratirvg environment continues to be a challcnging one in general for charities and although our funding and supporter base has been 5t¢ady this year, it is evid¢nt that the funds our sector trnditionally rely on are becoming ever more competitive, with a trend towards smaller and shorter grdnts and more limited opportuniti¢5 available for vital multi-year funding. Local Authority budgels continue lo be stretched and with the Council managing an increased deficit position, there is a rising risk that funding availability for all non-5tatutory serviceslprovision will be heavily reduced in the foreseeable future. Set against this: the communilies in Newham have ¢ontinued to experience rising challenges, thi5 year with disproportionate numbers of children, young people and famili¢s, many of whom access our services. pushed deeper into poverty, relecting the continued cost of living challenges and economic hardship for so many. The formulation of a new Strategy Plan ha5 provided an opportunity 10 look ahead and consider challengeslopportunilie5 over the coming 3 years. The process has also provided focus on reviewing key risks which include: Page 8 Ambi¢lon Aspire Athieve Report of the Trustees for the Year Ended 31 March 2024 Financial sustsinability with a challenging fundiftg environmcnt set to continue and potentially bccome more constrained, the risk of rcduced income over the coming years has increased. Donated incomdcorpordte support is also likcly to ￿cOMe more compctitive with increased nutnkri of causeslcharities comprting for donorlsupporter attention and investment. Rising overheads, Ca￿Sed by the ￿st of living incrcases over the past 2 years (e.g., energy bills. inflation rises) are a150 placing incr eased strain on tharities abilities to raise sufficicnt funding to cover overheads. 2. Over-relian¢¢ on key funders - the charity ha5 Ixen fortunate to [￿efit from re￿al funding from key supporters over the past 3 years. Although our funding bas¢ is broad, the numixr of multi-year funders supporting the charity with larger grdnlslinvestments {e.g., + £50k per annum) is more limited. This includes grant5 awarded by the Local Authroity. which may k under t hreat due to their own increased budget presSu￿s. 3. Increased strain on servicesldelivery with over SIP/￿ of children now growing up in FK)vety in the borough, the need for largeted youth services and activities, in particular those that are focused on supporting vulnerableldisadvantaged young people continues to increase. This raises a risk of service strain and a failure to meet the demands caused by rising need. 4. Staff eap*eity, poor morale and retention - the charity has grown Significantly over the past 5 years and although there is an established core stair team in placc. with a growing sessional pool of sessional workeJ3 SUPPOrting delivery, succession planning needs to be strengthend and capacity needs to be built in kLy area5 (e.g.. fundrnising and dcvclopmenL Eock-officc functions. EAlance of ￿aff core/full time vs sessional). With services kcoming more stretched, thcrL is also a risk ofstaff burn-out and l ower welliringlmotale. 5. Compliance burdens with the Irend for smallerlshorter grants continuing, effectively managing incrcased monitoringlreporting r¢quirements for a growing number of funders and supporters h&s also been identified as a risk. Al(￿g$]de this, charities ever more stringent regulatory r¢quiremenls. which again threaten5 to strain trmckry0￿Lce functions. The tru5¢ees and Chief Exe¢ulive consider key risks during Erf)ard of trustee meetings throughou¢ the year. Plans are in place to further strengthen risk management processes and an organi5ational risk register over the coming year. Page 9 Ambition Aspire Achieve Report of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW We are fortunate to ￿nefit from a growing numkr of funders and Sup￿rters, many of whom have grown their support for the charity over the past 3 }'ears. Despite a challenging 0￿￿tIng environment, we are ple￿ed to report a growth in net income thi5 year, increasing the total charily funds to £825213. The overall financial position remains healihy, with the amount of available unre51ricted reserves meeling the 6-month target set in the reserves policy. Trustees are satisfied with the financial statement5 ￿ at the year end and are confident that sufficient resources are in place to enable the harity to meet its objectives for the foreseeable fuiure. Trustees are also satisfied that the charity's assets in fund are available and adequate to fulfil its obligations in reS￿cl of e ach fund. A summary of the charity's financial posilion at year ending 3 1st March 2024, comparntively to the prior period and as more fully detailed in the accounts is as follows: 2024 (£) 2023 (£) Net Income £280.137 £ 117,672 Unrestricted Funds Restricted Funds Total Funds £ 400,952 £424.261 £825,213 £ 408,712 £ 136,364 £ 545.076 Fundraising Activities 2023-2024 Whi15'1 the majority ol our income is genernled from charitable grdnts. we ar¢ ¢xtremely grateful to the many individuals and Supporte￿ who have made donations during the year to 5UPFOrt our work. This include5 individual one-off and re￿at donations, donations from corporaleibusiness supporter5 and donations made as part of fundraising activities and events organised this year: including our annual benefit night: hosted by long-tern] suptther the Brick Lane Music Hall. Reserves policy As per the guidance provided by the Charity Commission: the Irust¢es have set an agreed reserv£5 policy, which 15 CU]Tently revi¢w¢d annually. The charity requires enough unrestricted reserves to safeguard the organisation and to cover situations such &s a drop in income, fluctuations in receipt of ￿yMents, any unforeseen events andlor situations that may hapFtn and any staff 5ev¢rance pay that may need io meL Unrestricted reserves may also be required to allow the charity to take advantage of new opportunilies should they emerge, which help to Strengthen the sustainability of th¢ organisation, ensuring it is better eqllip￿d to fulfil its purpose. The reserve policy has been set at 6-months n]nning costs. which are defined as fixed Commitments to ensure we Can continue lo opernte, This includes permanent staff cosis, potential entitlements to severrence pay, office and premises costs (including running costs and to fulfil any Cutyent contrncts in place). Page 10 Ambition Aspire Achieve Report of the Trustees for the Year Ended 31 March 2024 FUTURE PLANS The strntegy planning prwess ihis year has identified key priorilies for the coming financial year and kyond. The key priorities identified provide a summary of our plans for the future and trustees, perskEctive of the future direction of the charity. Priorilieslplans for the coming year include: l. Launching our new 3-year Strategy Plan (2024-2027) 2. Developing our financial managemenl Systems and (xrmcity, making further improvement5 to financial monitoring and projectlorganisational budget managemeni. 3. Incre&sing Capacity for fundraising and development work, further diversifying income streams, rnising funding from new suptK)rtets: whilst consolidating existing funders and supportet3 and targeting/securing new multi-year grant funding to grow our work with vulnerable childrett and young people. 4. Maintaining adequate free reserves. S. Reviewing and further strengthening governance: including undettsking a trustees skills audit and implemenling any resulting recommendations. 6. Investing further time/r¢soUr￿5 in developing our delivery hubs and facilities, to help build capacity and meet rising demand for our activities and servitts. This includes the necessary repmir and renewal of spaceslfacilities, site development projects at the Terence Brown Arc in the Park and the Glyn Hopkin AbEcy Hub and the ongoing transfomiation of the Kevin Jenkins OBE Outdoor Adventure Centre. 7. Focusing staff development plan& increasing staff capabililies and improving succession planning for all key rolas, whilst refreshing our annual staff ￿Ining plan. 8. Building on earlier work. developing our existing monitoring and rew)rting system4 to further improve data management, outcome retK)rting and impact measuremenL 9. Scoping and I￿gInnIng the process to achieve new organisalional &¢r¢ditalions and quality marks {e.g, Investors in People, London Living Wage, NCVO'S TrU￿¢d Standard). 10. Widening our reach with key stakeholders: including local schools colleges, children's services and families, to o￿n up more referrdl opwrtunities for children and young ￿0p1¢ across our programmes of work: increasing numbers of new attendeeslchildren accessing our services and activities over the coming year. I l. Continuing the effective delivery of all cutTent projects and services, including ih05c E45ed out of the Tenice Bmwn Arc in the Park. the Glyn Hopkin Ablw Hub, the newly eslablished Kevin Jenkins OBE Outdoor leaming cenlre and our outreach projects delivered across Newham (e.g., detached street-based programmes and in-sehool youth safety work). 12. Growing our outd(x)r leaming offer for children and young wple. utilising our newly develO￿d outdoor l¢aminglwoodland facility in Siratford. 13. Increasing our focus on areas of delivery lh￿ meet need andlor are idenlified gaps in surrounding services/provision (e.g., services and activities for children and young people wilh StEcial Educational Needs or Disabilities, early intervention and transilion work to provide SUp￿rt io ensure young people achieve positive transitions at key wints in their lives: provision for 14-19 year olds, including those at risk of Serious Youth Violence andlor at risk of involvement in gangs. increased support and activilies for the families of children in need who &¢¢ss our smiices and activities). Pagell Ambition Aspire Aehieve Rtport of Ihe Trustees for the Year Ended 31 March 2024 STRucfuRE, GOVERLYANCE AND MANAGEMENT The charity comprises of total 12 trLJStees and are jointly reswnsible for the general control and management of ihe charity. Chrisiine Bowden is Chair of trustees. who has been appointed and endorsed by the rest of the board for the position. and Jonny Boux is responsible for daily running of the charity as Chief Executive. The board meet together as a body on a quarterly ￿￿siS, with an addilional longer meetinglaway day 5es5ion reserved for key items (e.g.. annual budget and developmenl plan5, strategy planning). Trustees are responsible for all decisions taken in relation to running the charity and community programs and aciivities provided by the charity. Trustee Reeruitmenc Induction #nd Trainlng New trustees are selected and reeruiled by advertising positions through the charity's network or head hunted from the pool of prominent personalitie5 Within the community, with all potential candidates are interviewed by Éhe Chair and 5UPPOrting trustees. Successful candidates are asked io join the board and appointed o￿le1a11Y during trustee meetings. A handbooklguide ha5 been dramm up for trusteek which is allocated to each trustee on joining and includes detailed inforniation aEout trustee responsibilities: along with infom)aiion aboul the charity. All new trustees are given: in the view of th¢ board, sufficient training and have enough knowledge of their sErcifi¢ field to understand the nalure of the Charity and fully comply with the Charity's ¢utTent view of its progression. Thty are required to participate in an orientaiion activities to ensure they are aware of E&)th their legal and professional responsibilities under Charity law. STATEMENT OF TRUSTEES, RESPOIYSIBILITIES The charity's trustees are responsible for the preparation of the accounts in accordance with the ternis of the Charities Act ?01 l and the Charities (Aceounts and Repot1s) Regulations 2(K)8. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Rep)rts) Regulations 2008, to prepare the financial statements in a￿rdance with the SORP 2005, in view of the fact th￿ the SORP 2005 has been withdrawn: the Trustees deterniined to interpret this responsibility as requiring them to follow current irst prnctice and prepare the accounts according io the FRS 102 SORP (Statement of Recommended Prnctice for Accounting and Reporting by Charities) 2015, (&s amended by the Bulletin issued in February 2016), (The SORP). In particular, charity law requires the Trustees, if they prepare a¢¢ounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Truslees are required to: To p￿￿Thre the accounts in accordance with Uniled Kingdom Genernily Accepted Accounting Prnctice (United Kingdom Accounting Standard5 and applicable law) Select suitable accounting policies and apply Ihem consistentl ' Make judgements and estimates ihal are re&sonable and prudent Prepare the financial statement5 on the going concern iwis unless it is inapproryiate to presume that the charity will continue in business State whether applicable accounting standard5 and statements o recommended practice have been followed. subject to any material departure5 disclosed and explained in the financial statements The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the State of affairs of the charity and of ihe surplus or deficit of the chariry for the year. The Trustees are also responsible for maintaining adequate a￿unting records which disc105¢ wilh re&sonable accurncy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statemenls comply with regulations made under the Charities Act 201 They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of frdud and other irregularities. The Trusiees are also re5pon5ible for the contenls of the Trustees, report, and the statutory responsibility of the Inde￿ndent Examiner in relation to the Trustees, rep)rt 15 limited to examining the report and ensuring that on Ihe face of the report, there are no material inconsistencie5 with the figures disclosed in the financial statements. Page 12 Ambltion Aspire Athieve Report of the Trustees for the Year Ended 31 Mareh 2024 This rep(Yt has Eeen pre￿ed in a¢¢ordan¢¢ with the special provisions of Part 15 of th¢ ComFHnies Act 2006 relating to small companies. Approved by order of the bo￿ of trustees on 17 March 2025 and signed on its Ethalf by: Ms Chrisiine Bowden - Trustee Page 13 Report of the Independent Auditors to the Trustee5 of Ambition Aspire Achieve Opinion We have audited the financial statemenls of Ambition, Aspire, Achieve (the 'charity') for the year ended 31 March 2024 whith comprise StatemLnt of Financial Aclivities, Statement of financial position and Statement of the Ca5hflows and notes to the financial stalemenls. including a summary of significant acLounling policies. The finanLial rL'porting framework that has txen applied in Ihcir prLyardtion is applicable law and United Kingdom Accouniing Standards, including Financial Reporting Standard 102 The l.inancial Reporting Standard applicable in the UK and Republic of Ireland (Uniied Kingdom Cjenerally AcLepled Accounting Prdcticc). In our opinion: the financial 5tatements'. give a true and fair view of the state of thc charily's affairs as at 31 March 2024 and of it5 incoming reSOurL￿ and application ot resources for the year then ended- - have ￿en prO[￿rIY prepated in accordance with United Kingdom Generally Accepted Accounting Prdcticc= and - have been prcparcd in accordance with thc rcquirements ofthe Charities Act 2011. Basi5 for opinion Wc conducicd our audit in a¢cordancL' with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities undLr those standards are further descriLrd in the Auditor's rcsponsibilities for the audit of the financial slatemcnts seclion of our report. W¢ aro indcpendent of the charity in accordance with the ethical ￿qUIrements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfill¢d our other ethical responsibilities in accordance wilh these requirements. We ixliev¢ that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other matters The col￿pOndIng figures for the year ended 31 March 2023 We￿ not subject to audit in accordance with section 144 of Charities Act 2011. Contluslons relating to going concern In auditing the financial statement5, we have concluded that the trustees, ￿Se of the going concern b￿lS of accounting in the prepatation of the financial statements is appropriate. Based on the Work we have performed, we have not idenlified any material uncertainties relating to events or conditions that, individually or collectively, may cast signifirdnt doubt on the charity's ability to continu¢ &5 a going concern for a period of at least twelve months from when Ihe financial Sta￿ments are authorised for issue. Our re5tM)nsibilities and the responsibililies of the trustees with resFct to going concem ar¢ described in the relevant Sections ot'this rcport. Other information ThL other inforn)ation comprises the inforniation incluik.d in the a[￿Ual report other than the financial ststements and our auditols report therL"on. The trustees are respunbible for the other information containcd within the annual retM)rt. Our opinion on thc financial statements doc5 not covei the other intorniation and: cxcepl to the extent othcnvise explicitly statL"d in our teport, we do not e.xpress any forni of assuranLL Lonclusion Ihereon. Our responsibility is lo read the other infurmation and, in doing so, consider whether thL other infortnation is materially inconsi5tcnt with the financial statetnents or our knowlLdge obtained in Ihc coursc of the audit or otherwi.se aptEars to materially mi&stated. If IVL idenlify such matcrial inconsistencies or apparcnt malerial misstaiement5, we are requircd tu deierniine whether thi5 gives rise to a matcrial misstatement in the finanLial statetnents themselves. If, based on the work we have rformed, we concludc that there is a material mi55tatcment of this other inforniation, wc arc required to report that f￿1. We have nothing to report in this regard. Page 14 Report of the Independent Auditors to the Trustees of Ambition Aspire Achieve Matters on which we are required to report by exception We have nothing to report in resrtct of the following mattet3 in relation to which the Charities (Accounts and Reports) Regulations 2(K>8 require us to report to you if, in our opinion: - the informalion given in the trustees, report is in¢onsislent in any material resi￿￿ with the financial statem¢n15' or - sufficient accounting records have not iren kept; or - the fmancial statements are not in agreement with the accouniing records and return5. or we have not received all the inforniation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibililies statement set out on page 12 the trustees are responsible for the preparation of the financial statements and for king satisfied that they give a true and fair view: and for such internal control as the trustees deterniine is necessary to enable the prepar4tion of financial statements that are free from material miss¢atement, whether due to fraud or etTOr. In pr¢paring the financial statements: the trustees are resw)nsible for assessing the ¢harity's ability to continue as a going concern: disclosing, as applicable, matters related to going concern and using the going ¢on¢ern b&5is of accounting unless the Irustees either intend to liquidate the charity or to cease 0￿ratIonS, or have no realistic altemalive but to do so. Audltor's responsibilities for the audlt of the fmaneial ststements We have iyen apwinted &$ audilor under section 144 of the Charities Act 2011 and reporl in accordance with the Act and relevant r¢gul*ions made or having effect ther¢under. Our objectives are to obtain ￿aSOnable assurance about whether the financial stalements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditols report ihal includes our opinion. Reasonable assurance is a high level of &ssurance, bLrt is not a guarantee ihat an audit conducted in accordance with ISA5 (UK) will always deteth a malerial misslatement when it exists. Misstalemenls can arise from frnud or error and are considered material if: individually or in the aggregate: they could reasonably Ix expected to influence the econotnic decisions of uset3 taken on the b&8is of these financial statements. The extent to which our procedure5 are capable of detecting itregularilies, including fraud is detailed Ixlow: Identify and a55es5 the risks of material misstatemenl of the financial statements, whether due to fraud or error, design and ttrforni audit procedures responsive to those risks, and obtain audit evidence that is sufficitnl and appropriate to provi(k a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as frdud may involve collusion, forgery, intentional omissions, misrcpr¢sentation5, or the ove￿ide of internal control. - ob￿1n an undet*anding of internal control relevant to th¢ audit in order to design audit wocedures that are appropriate in the circumstanccs. but not for the pUr￿se of expttssing an opinion on the effectiveness of the Charity's internal control. Evaluate the appropriateness of a¢¢ounting policies used and the re&wnableness of a￿oUnting estimates and related disclosures made by management. - Conclude on ihe appropriateness of management'5 use of the going concem basis of accounting and, based on the audit evidence obtained, whether a materia] uncertainty exists relatd to events or conditions that may c&st significant doubt on the Charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors, report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors, report. However, future events or conditions may ¢aus¢ the Charity to cease to continue as a going concern. Evaluate the overall presentation, structure: and Content of the financial statements: including the disclosu￿$. and whether the financial statements represent the underlying trdnsaclions and events in a manner that achieves fair presentation. There are inherent limitations in the audil procedures descriEtd aEK>ve. We are less likely to kcome aware of instances of nonrycompliance with laws and regulations that are not closely related to events and transactions reflected in the rinancial statemenls. A150, the risk of not detecting a material misstatement due lo frnud is higher than the risk of not detecting one resulting from error, &s fraud may involve delilxrydte concealmeni by, for example. forgery or intentional misrepresentstion, or through collusion. Page 15 Report of the IndepeDdent Auditors to the Trustees of Ambition Aspire Aehleve A further description of our rcsponsibililies is located on the Financial Rerx)rtinE Council's wet6ite hitpsJlwww.frc.org.ukl&uditorsresponsibilities. This dcscription fornis tmrt of our auditovs rcport. Use of our report This report is tnade solely to the charity's trustees, as a tK)dy, in accordance with Part 4 of the Charitics (Accounts and Reports) Regulations 2008. Our audit work has kn underthken so that we might 5tat¢ to the charity's Irusiee5 those matters we are required lo state to them in an &udilo¢s rew)rt and for no oth¢r purpose. To the fullest exlent krrn)ilted by law, we do not accept or assume responsibility to anyone other than th¢ charity and the charity's trustees as a kndy, for our audit work, for this report, or for the op￿lonS we have forni¢d. Adroit Auditing Ltd Eligible to as an auditor in terms ofsection 1212 of the Companies Act 2006 Unit 8. Dock-offices, Surrey Quays Road. London SE162XU 17 March 2025 Page 16 Ambition Aspire Achleve Ststement of Finan¢lal Activfitles for the Year Ended 31 March 2024 31.3.24 Totsl funds 31.3.23 Total funds Unrestricted funds Restricted fL￿d Notes INCOME AND ENDOWMENTS FROM Donations and legacies 169,025 io,(x)o 179,025 150,588 Charitsble activldes Furlough grants {CJRS) Grants received Contracts 6,227 744,(KY9 870.479 870,479 94,199 94.199 Other trnding activities Investment income 24,274 1,583 24,274 1,583 30,187 1.025 Total 289.081 880,479 1,169,560 932,036 EXPENDITURE ON Charitable *etivikn¢s ExpKnditure on charitable activtty 296,841 592582 889,423 814,364 NET INCOMEI(EXPENDITURE) (7.760) 287,897 280,137 117,672 RECONCILIATION OF FUNDS Total funds brought forward 408,712 136,364 545,076 427,404 TOTAL FUNDS CARRIED FORWARD 400,952 424261 825,213 545,076 The notes forni part of these financial stsÉemenLS Page 17 Ambition Aspire Aehleve ststement of Financial Posltlon 31 M*reh 2024 31.3.24 Total funds 31.3.23 Tolal funds Unrestri¢t¢d funds Restricted fund Notes FIXED ASSETS Tangible assets 13 6598 187,169 19),767 CURRENT ASSETS Debtors C&sh at bank and in homd 14 41.999 358.133 41.999 900.000 75.233 799,963 541.867 541.867 400,132 941.999 875.196 CREDITORS Amounts falling du¢ within one year 15 (147.513) (163,0401 (310.553) (330,120) NET CURRENT ASSETS 394,354 237,092 631.446 545,076 TOTAL ASSETS LESS CURREiYr LIABILITIES 400,952 424,261 825,213 545,076 NET ASSETS 400,95? 424.261 825,213 545,076 FUNDS Unrestri¢t¢d funds Reslricted funds 16 400.952 424.261 408,712 136.364 TOTAL FUNDS 825,213 545,076 The djarl￿ble company is entitled lo exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial stafrmenls. The tNstees acknowledge their responsibilities for (al ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and prerAring financial statements which give a Irue and fair view of the state of affairs Ot the charitable company &s al the end of each financial year and of it5 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 ComFOnies Act 2006 relating lo financial statements. so far as applicable to the charitable company. (b) These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. The nole5 fonn tmrt of these financial statements Page 18 ontinued... Ambition Asptre Aehleve Ststement of Financlal Posltlon- eontinued 31 Mar¢h 2024 These financial statements have LEen prewed in accordance with the provisions applicable to charitable com￿leS subject to the small com￿leS regime. The fmancial statements wcre approved by the Board of Tntsw and authorised for i55uc on 17 March 2025 and were signed on its ￿half by.. Ms Christine Bowden- Trustee The note5 forni Imrt of these financial statements Page 19 Ambftlon Aspire Achieve Ststement of Cash Flows for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows frotn opernting activiti¢s Cash generated from O￿aLlonS 341,172 145,846 Net cash provided by operdling activities 341,172 145,846 Cash flows from investing activltles PU￿h&S¢ of tangible fixed assets Int¢￿st received (242,718) 1,583 1,025 Net c&8h (used in)Iwovided by investing activities (241,135) ,025 Change itt cash 8nd cash equivalents i the reporting period Cash and casb eqllivalents it the beglnning of tbe reporting period l(K),037 146,871 799,963 653,092 Cash and cash equivalellts at the end of the reporting perlod 90U.(KIII 799.963 The note5 fonn part of these financial statement5 Page 20 Ambition Asplre Aehitve Notes to the Statement of Cash Flows for the Ye4r Ended 31 M*reh 2024 RECONCILIATION OF NET ILYCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net income for the rewJrtiDg period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease/(incre&8e) in debtot3 (Decredse)fincrease in ¢reditot3 280,137 117.672 48.951 (1.5831 (1,025) (75,233) 104,432 (19.567) Net cash provided by operatlODS 341.172 145.846 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 C&sh flow At31.3.24 Net cash Cash at iwlk and in hand 799.963 100,037 9ty),000 799,963 100.037 9(K),000 Total 799,963 100,037 9(M),000 The notes fom W of these financial statements Page21 Ambition Aspire Aehieve Notes to the Financlal Ststements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial ststements The financial staietnents of the charitable company, which is a public Ixnefit entity under FRS I￿2. have Eten prepared in dc£ordance with IhL Charilies SORP (FRS 102) 'Accounting and Reporting by Charities= Stalemcnt of Recommended PrdctlLe applicable to charities preroring their acLounls in accordance with thc Financial Rewting Standard applicable in the UK and Republic ot Ireland (FRS 102) (effectivc l January 2019),: Financial Reporting Stsndard 102 'Thc Financial RerK)rting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. Thc financial statemen15 have ixen prepared undcr the historical cost convention. Signif￿*￿t accounting policies Preparation of the accounts on going concern bgsjs Thc charithble activitiC5 arc entirely de￿ndent on continuing grant aid and voluntary donation5 as well as trnding revenues. As a con5¢quence, the going ¢on¢¢m basis is de￿ndent on the future flow of these unccrtain funding streams. Accordingly, the Trustees have obtained fore¢&sts and, after reviewing the financial forecasts for the next 12 months, the trustees are satisfied that, at the time of approving the financial stateTnents, it is appropriate to adopt the going wncem basis in preparing ihe financial statements. (hher than these matters, the Trustees are not aware of any material uncertaintie5 &knut the charity's ability to continue as a going Concern. Risks and future assumptions The funding required for 2023f2024 has Eeen raised and the trustees confident that there will not a deficit. Major funding 15 on 2-3 year contracts. and funding needs for 2024 and ￿yond have been dderniined: sources of funds are being identified and applications are king made to secure the necessary funding for 2024125 and beyond. This should ensu￿ viability beyond 2024125 and demonstrnte that the Charity is a going concern. Income recognition Income, whether from exchange or non exchange trnnsactions, is recognised in the Statement of financial activities {SOFA) on a receivable basis, when a trdnsaciion or other event results in an increase in the charity's ets or a reduction in its liabilitiLS and only when the charity has legal entitlement, the income is prolmble and can k measured reliably. All income is accounted for gross: ￿fOre deducting any related fees or costs. Reeognition of liabilities and expenditure A liability, and Ihc related ex￿ndIt￿re, is rL"cognised when a legal or constructive obligation exisls as a result of a past cvL"nl, and when it is morc likely than not that a transfer ol economic bL'nefits will be required in settlcmcnt, and when the amount of the obligation can be mcasured or reliably estimatcd. Charitable eX￿dItUreS compri5c Ihose costs incurred by the charity in the delivery uf its aclivilies and servicc5 for it5 ￿nefIcIarieS. It includcs boih costs that (xn ￿ dirccily allocated to such activities and those costs of an indirect nature necessary lo support them. Volunteers In accordance with the SORP, and in recognilivn of the difficulties in plaLing a monetary value on Ihe ntribulion from volunteers: the conlribution of volunteers is not included within the income of the charity. Hoiyever, the trustees value the significant contribution made lo the activities of the charity by unFdid volunteers and this is descriFed more fully in Nole5. Page 22 ontinued... Ambition Aspire Achleve Notes to the Finan¢ial Sth¢ements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Signifieant accountlng polieies Debtors Trnde debtors are reeognised Initi￿[Y at the tj2nsaction pri(z. They arc subsequently measutEd at amortised cost using the effcctive interest method: less provision for impairetnent. A provision for impairement of trnde debtuts 15 established when there is objective cvidence that the charity will not be ablc to collect all amouni due according to the original tcrn15 of receivables. Cash and cash equivalents C&sh and cash equivalents include cash in hand: dctK)5its held at call with banks: other short term liquid investmcnts with original tnaturilie5 of three months or less and bank overdrdfts. Bank overdrdfls are shown within borrowings in current liabilities. Creditors Trade creditors are re¢ognis¢d initially at the transaction price. They are subsequently measured at amortised cost using the effective interest meth(xJ. Short terni trade cr¢ditors are measured at the transaction price. Other financial liabilities, including FAnk loans, are measured at fair value, net of Irdnsaclion c051s and are me&8uredsubsequently at amortised cost Using effective interest method. Penslons- defined contribution schemes The charity operates a defined contribution pension schem¢. Contributions are charged lo th¢ profit and loss accounl as they kcome payable in a¢¢ordance with the rnles of the scheme. Fund Accounting Unreslricted funds are available for use at the discretion of the trustees in furtherance of the genernl objectives of the charity. Restricted funds are subjecl¢d to restrictions on their expenditure imposed by the donor or through the tems of an apFeal or as implied by law. Tanglbk fjxed Assets Depreciation is provided at the following annual rates in order to write off each asset over ils estimatd use￿] life. Improvements to property Fixtures and fittings Computer equipment Over the ttriod of lease 250/0 on reducing baiance 25 /0 on reducing IM]ance Taxation ThL" ch￿lty is exetnpt from corporydtion lax on its charitable activitics. Pension costs alld other p05t-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo thc charitable company's pension scheme are chargcd to the Statement of Financial Activities in the period to which they relate. Page 23 continued.. Atnbition Aspire Aebieve Notes to the Finan¢ig1 Ststements- eonllnued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 31.3.24 31.323 Donations 179,025 150,588 (yrHER TRADING ACTIVITIES 31.3.24 31.3.23 FundraisirE events Xm&5 trees 1.521 12,753 16.612 13.575 24,274 30.187 INVESTMENT INCOME 31.324 31.323 Deposit account interest 1,583 1,025 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Furlough grants ICJRS) Grdnts received Contracts Grants Grants Grants 6,227 744.009 870,479 94.199 964,678 750,236 Grants weived, included in the above, are &8 follows: 31.3.23 CHARITABLE AcfiviTIES COSTS Support costs (see note 7) Costs 'rolals E.¥￿ndItUre on charitable activily 7?7. j44 161,879 889.4?3 Page 24 ontinued... Ambl¢lon Aspire Athieve Notes to ¢he Flnancial Ststements- contlDued for the Year Ended 31 M#r¢h 2024 SUPPORT COSTS Information technology Human resourLes Financ ExFenditure on charitable activity 84 9,646 20,455 Govcmance costs Totals Expenditure on charitable activity 42,958 88.736 161.879 NET INCOMFJ(EXPENDITURE) Net Income/(ex￿nditUre) 15 stated after charginty(crediting): 31.324 31.3.23 Depreciation- owned assets 48,951 AUDITORS, REMUNERATION 31.324 31.323 Fees payable to the charity's auditor5 for the audit of th¢ charity's financial statements 14,400 io. TRUSTELS, REMUNERATION AND BENEFITS There were no ttiJstee5' remuneration or other Eenefits for the year en(kd 31 March 2024 nor for the yw ended 31 March 2023. Tn￿tee$, expenses There were no t￿￿tees, ex￿￿eS paid forthe year ended 31 March 2024 nor for the year ended 31 March 2023. ii. STAFF COSTS The averdge nUmI￿r of employtts calculated during the year was: (staff numim are included a headcount Ixsis and do not lake into account part time working): The averdge monthly number of employees during the year was as follows: 31.3.24 31.3.23 29 33 PernianenVsaIaried staff Sessional staff 76 83 62 No anployees received emoluments in excess of £60.000. Page 25 continued... Ambitlon Aspire Aehieve Notss to the Financlal S¢atements- eontinued for the Year Ended 31 Marth 2024 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Re51ricted fund Tolal funds INCOME AND ENt)OWMENTS FROM Donations and legacies 150.588 150,588 Charitsble activities Furlough grants (CJRS) Grdnts received 6.227 129232 6.227 744.009 614.777 Other trading aLtivities Investment income 30.187 1.025 1.025 Tot21 317.259 614,777 9J2.036 EXPENDITURE ON Charitable activities E%￿ndIture on charitable activity 271278 543.086 814.364 NET INCOME 45,981 71,691 117,672 RECONCILIATION OF FUNDS Tota] funds brought forward 362,731 64,673 427,404 TOTAL FUNDS CARRIED FORWARD 136,364 545,076 13. TANGIBLE FIXED ASSETS Improvements Fixtures and fittings Computer equipment prop Totals COST Additions 234.572 4.328 3,818 242.718 DEPRECIATION Charge tor ycar 46,914 1,082 955 48,951 NET BOOKVALUE At 31 Miwch 2024 187,658 2.863 19J.767 At 31 March 2023 Page 26 conlinued..- Ambition Aspire Achieve Notes to the Finaneial Statements- conilnued for the Year Ended 31 March 2024 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.323 Trade del￿or$ Prepaymenls 75,233 9,087 41.999 75233 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 Trddc creditor5 Socidl sccurity and other taxes Other creditors Accruals and deferred income Accrued expenses 42.181 11,461 27.650 214,147 15,114 3.998 7.334 14.342 ?9().696 4,750 310,553 330.120 Grani & Donations are subject to ttrfornianc¢-relat¢d ￿nditionS received in advance which are accounted for as a liability and shown on the balance sheei as defe￿ed inwme. Deferred income is released to income in the reporting period in which the p¢rforn)an¢¢-relaled or other conditions that limit recognilion are met. During the cumt year deferred income amounting to £ 299,696 has been released in the statement of financial activites &8 income, whereas grdnts amounting to £ 214.147 has tt¢n deferred. 16. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricled funds Unrestricfrd funds 408,712 (7,760) 400,952 Restricted funds Restricted funds 136.364 287.897 424.261 TOTAL FULYDS 545,076 280.137 825,213 Net movement in fund5. included in the above are as follows: Incoming rcsources Movement in fund5 ext£nded Unrestricted funds Ur￿estrI￿1Cd funds 289.081 (296,841) (7.760) Restricted funds Restrithed funds 880.479 (592,582) 287,897 TOTAL FUIYDS 1,169,560 (889,423) 280.137 Page 27 continued... Ambition Aspire Achleve Iyotes to the Flnancial StAtements- continued for the Year Ended 31 March 2024 16. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 UDre5trieted funds Unrestricted funds 362,731 45.981 408,712 Restricted funds Restricted funds 64,673 71.691 136.364 TOTAL FUNDS 427,404 117,672 545,076 coM￿ratiVe nel movement in funds, included in the aixive are as follows.. Incoming resources ResOu￿¢S ex￿nded Movement in funds Unrestricted funds Unrestricted funds 317.259 (271,278) 45,981 Restrlcted funds Restrict¢d funds 614,777 (543,086) 71.691 T(yfAL FUNDS 932.036 {814.3641 117,672 17. RELATED PARTY DISCLOSURES The following trustees and staff memixrs have I￿en identified as related partie5. Details of their relationships and declared interests are as follows: Name Role Declared Intsrest M5. Christine Bowden Tru51¢e Trustee of Newham Music and Brick Lane Music Hall. Newham Music provided a tutor to support the delivery of music sessions during the year. The total payment made iowards these sessions amounted to £420 during the year. Mr. John Bergin Trustee Chief Executive of Newham Music. Newham Music provided a tutor to support the delivery of music sessions during the year. The total Foyment made towards these sessions amounted to £420 during the year. Ms. Sharon Kaur Trustee Director of Sahara Care Limited. Sahara Care Limited made donations of £7,9(K) during the year to Ambition Aspire Achieve. Page 28 continued... Ambition Aspire Athieve Notes to the Financial Ststements- continued for the Year Ended 31 Mareh 2024 17. RELATED PARTY DISCLOSURES- eontlnued Mr. Jonathan Boux Chief Executive Trustee of Newham Music and Brick Lane Musie Hall. Ncwham Music provided a tutor to 5UPIXJrt the delivery of music sessions during thc ycar. Thc total ￿aymCnt made towards these sessions amounted to £420 during thc yvdr. The charity acknowledges these relation5hip5 and ensures that all transactions involvin8 related parties are in the best it)terest olthe charity. No other financial (rnnsaclions were conducted with related parties. i& CHANGES IN PRESENTATION AND RECLASSIFICATIONS Effective l April 2023: the charity revised the classification of certain expenses to ensure they are more accurately calegorized. This reclassification E¢ller reflects the nalure of the eX￿nSeS and enhances comparability between the financial ￿riOdS. Accordingly, the Statement of Profit or Loss and the NO￿ to the Finaneial Statements for the year ended 31 March 2024 inCor￿)rate these changes, with comwnding adjustments made to the comparative figures for the year ended 31 March 2023 10 maintain eonsistency. 2023 (as previously stated) Chgnge 2023 {Reclassif￿d) Detsils Donations Other trading activities Dcposit account interest Trdvcl and 5ubsistence- staff Sundry extthsc Premise5 repairs and renewals Prnjcct cost ex￿nSe License fc¢5 and Subscription Accountancy f¢¢5 Bank charges P051age and stationery Marketing and publicity Cleaning Clothing Telephone £ 168224 £ 13,575 {£ 17,636) £ 16.612 £ 1.025 (£ 27,651) (£ 35,583) (£ 10,635) £ 48,325 £ 9,275 £ 2,782 £89 £ 3,773 £139 £ 6.239 £697 £ 2.548 £150,588 £ 30.187 £ 1.025 £ 2,065 £ 8.800 £21207 £ 162,017 £ 9,275 £ 2,782 £89 £ 3,773 £ 3,862 £ 6239 £697 £5,019 £29,716 £44,383 £31,842 £113.692 £ 3.723 £ 2,471 Page 29 Ambition Aspire Aehieve Delalled Ststement of FiDanei*l Artivities for the Yegr Ended 31 Marth 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legaeies Donations 179.025 150,588 Other trading activities Fundrdising events Xmas tree5 11.521 12.753 16,612 13.575 24,274 30,187 Investment income Deposit accounl interest 1,583 1.025 Charitable activltles Grants 964,678 750236 Totsl incoming resources 1,169,560 932.036 EXPENDITURE Charitable activities Wages Social security Pensions Project costs Cost of Xmas trees 516,294 29,157 7.049 165,824 9,220 412.654 110.346 20,819 162,017 9,267 727,544 715,103 Support Costs Finallce Bank tharges 84 90 Information tecbnology License fees and subscription 9.646 9275 Human resourees Training and welfare- staff Travel and subsistence- staff Admin staff expenses C1￿h]ng 5,139 1,169 7,200 6,947 ,544 2,065 7,2(K) 698 20.455 11,507 Other Rates and water ca￿led forward 774 774 801 801 This page d(ts noi fom part of the statutory financial statements Page 30 Ambhion Aspire Achieve Detalled Ststement of Fin¥nclal Actlvitie$ for the Year Ended 31 March 2024 31.3.24 31.3.23 Other Brought fotTrvard Insurnnce Light and heat Premises repairs and rt]ewals Cleaning 774 6,491 13,569 16,549 5,575 801 13310 7,846 21207 6239 42.958 49,403 Governance costs AuditOTS' remuneration Marketing and publicity Telephone Postage and stationery Sundries IndetKndent examination fee Accouniancy fees Improvements to pro FixWr¢s and fittings Computer equipment 14.4(M) s.￿1 5.952 3,812 6,714 lJ50 2.356 46,914 1,082 955 3,862 5,019 3,773 8.800 4,750 2,782 88,736 28,986 Total resou￿¢5 extKnded 889,423 814,364 Net lttcome 280,137 117.672 This page not forni Fart of the statutory fuMn¢ial statements Page31