OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Go-Forward Youth

2024-05-31-accounts

GO-FORWARD YOUTH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

Charity Registration Number: 1168878 Company registration number (England and Wales):10206917

GO-FORWARD YOUTH: LEGAL AND ADMINISTRATIVE INFORMATION

_____________

Current Trustees Ms Victoria Hancock Fell (Chair) (appointed 11 Feb 2025) Mr. Stephen Chufungleung (appointed 11 Feb 2025) Ms. Janet Martin (appointed 11 Feb 2025) Ms. Shamanth Pereira (appointed 11 Feb 2025) Ms. Elizabeth Sengati Registered Name Go-Forward Youth Abbreviated to GFY Charity Number 1168878 Registered 23 Aug 2016 Company Number 10206917 Incorporated 31 May 2016 Governing Document Articles of Association dated 22 June 2016 Registered Office 10 Queen Street Place, London EC4R 1BE Independent Examiner JM Accountants, Cherry Crescent, Lancs, BB4 6DS Chief Executive Officer Ms Kadeema Woodbyrne (maternity leave from 5 Jan 2025) Ms Janice Beckles (from 23 Dec 2024) Bankers Co-Operative Bank, PO Box 250, Skelmersdale, WN8 8WT Metro Bank plc, 1 Southampton Row, London WC1B 5HA

Charity Registration Number: 1168878 Company registration number (England and Wales):10206917

GO-FORWARD YOUTH: CONTENTS

_____________

Trustees’ report 1 – 10
Independent examiner’s report 11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statements 14 - 24

Charity Registration Number: 1168878 Company registration number (England and Wales):10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT

_____________

The trustees present their report and financial statements for the year ended 31 May 2024.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2019) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and accounts of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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)".

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Objectives and activities

The objects of the charity are to: relieve by such means as are charitable, the social disadvantage and improve the wellbeing of children and young adults who have had foster care or residential care experience by the provision of support, advice, resources, assistance (financial or otherwise) to:

● advance education, advance health, relieve unemployment, promote social inclusion among those beneficiaries who are excluded from society, or parts of society, due to their social or economic position and to develop their capacity and skills in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Strategic Report

The description under the headings "Achievements and performance" and "Financial review" meets the company law requirements for the trustees to present a strategic report.

Our aims and mission

Young adults who have lived their teenage years in care face an uncertain future as they try to make the transition to independence. With services from the age of eighteen being based substantially on need, those with health, learning and other needs can access support. However, those who present as able and capable are typically left to fend for themselves. They rarely have the benefit of a supportive family network, and as they line up with peers who do have this, their apparent independence may mean their needs remain unnoticed. They can become isolated, depressed and ultimately even suicidal.

Page | 1

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

These are the young adults who, if supported, can make the break with the disadvantage, chaos and trauma of their past, and succeed in their adult lives. They are both the potentially high achievers, and those who achieve at good levels, in education and the job market. The actual support that they need seems simple to those who have a family home to which they can return:

Specific outcomes for these young people will be:

Our Mission is summed up in three elements:

Social

Our long-term aim is for young people out of care to live in a world where they do not feel isolated. We do this by giving care-experienced young adults care leavers a place to go at times of loneliness, crisis or celebratory periods.

Economic

We want to see a world where care leavers have the opportunity and support to achieve their goals, increase their network, maintain relationships and are in long term education and employment that is of value to them.

Cultural/societal

We aim for a society where we can break down the stigma of being in care and instead promote the tenacity, aspirations and the large giving hearts of many people that are care-experienced.

Page | 2

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

Achievements and Performance

Review of Activities and Future Developments

Our intensive training and employment project Own It:

This year began with the energy of Own It 3 running a live music event followed by the publication of an external evaluation of Own It’s work to date, tracking participants from the previous 2 years as well as interviewing this year’s team. The next cohort, Own It 4, started with a team-building day in November, getting inspiration and motivation from alumni from the 3 previous cohorts before completing the taught element of the course in March 2024. They then went on to set up an E-bay Store for GFY and developed their own podcast with support from up-and-coming youth-led social media and events company, Nexus.

Further alumni involvement :

With the ongoing objective of young people being part of our development, and passing on their inspiration to their peers, our alumni continued to help us set up our space, working on development and running of a pilot weekly wellbeing offer in the autumn combining yoga, coaching and creative makeovers. Others joined our CEO for a 5K run in September and formed part of interview panels for the 2 rounds of recruitment of our first fulltime post of youth manager in October.

Building the Hub, our home away from home:

To be able to make our vision of setting up a home away from home in our space in Camden sustainable, we continued to build our staff team, ran social events for alumni and current participants, fundraising and building partnerships to bring in external expertise, resources and networks to both support and engage young people.

We continued our partnership with Bennu, who supported us with pastoral support to young people and clinical supervision for our staff team. 4 young students from Westminster Kingsway College contributed time and creativity, and our newly appointed youth manager, Dominique Buchanan, joined us in December 2023. After attending our Christmas celebrations Dominique joined our CEO in monthly check-ins with our alumni, listening and offering support where useful, and keeping in touch with their input to our development. Together they worked hard to connect us to relevant organisations, such as Voluntary Action Camden, Young Camden Foundation, lift.futures, Giving is Great, Spear, Drive Forward and the King’s Trust, building the foundations for support, activities and events in the following year.

As a team we further developed our space as a place where young people feel welcomed, inspired and able to be themselves, whilst fundraising towards our music partnership with Gain Ctrl and additional staff capacity.

Research

As part of a desire for our organisation to be properly informed by young care-experienced people’s input, our CEO Kadeema Woodbyrne and a researcher from UCL worked alongside two peer researchers to refine our research questions on the impact of positive relationships with trusted adults on the wellbeing of young careexperienced people.

Achievements and Performance

As well as delivering Own It and developing our space and Hub social activities, our plans for this year included:

Page | 3

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

Own It, Alumni, Hub impact:

This year was kick-started in style by Own It 3’s soul-stirring RnB Adjacent event on June 9[th] attended by 43 family, friends and RnB fans. A video captured the event’s joyful impact, as well as a surprise visit from famous producer Mathew Knowles.

Our external evaluation of Own It conducted interviews at 2 points in Own It 3 participants’ journey and tracked participants from the 2 previous cohorts. Both sets of participants reported “ wide-ranging benefits, often beyond personal expectations and the development of business skills, with many identifying broader life skills and experiences gained and attributing greater aspirations and sense of self/or purpose to Own It .”

Participants valued Go Forward youth’s approach to relationship building, giving young people a safe space in which to try things out, make mistakes, and learn from their own experiences, whilst building truly positive and healthy relationships:

“Participants found value from their relationships with one another and staff, particularly the two-way, adultto-adult relationships staff strove to create. They also prized their agency. ”

Greater self-awareness, empathy, resilience and leadership were all areas participants hadn’t anticipated gaining but were clearly evident in their reflections:

“It's not just about what it's doing now, but what it means for the future. And […] doing all this helps me more confidently address my past […] So it's all encompassing. It just makes you want to take everything more seriously.”

“It’s taught me more to rely on my discipline than my motivation, because if I just rely on my motivation, we get burnt out and give up. If I rely on my discipline, even when I don’t want to do it, […] I’m going to do it anyway.

“Other people are just like you: they're scared too, they're stressed too, they're anxious too, they have their own dreams, they have their own passions, they have different strengths. I've learned with other people, they may not also know their potential or cultivate that in them. I've learned that everybody is a master in their own right”

“It's just made resilience more digestible […] because with a business mind we take it, we quantify it, we log it, we see what went wrong, and we come back. So, yeah, it's definitely improved resilience, because it's given you a formula for resilience.”

“I didn't expect to be in charge as much […] I've been like a leader and making decisions that I didn't expect to make. […] It's been good. It's […] shown me what I can do that I didn't expect that I could do before.”

“It's taught me leadership […] Before I would never get my own work done in time but now that I've come to be a leader […] it makes me have to finish my work first so I can ask the others.

Alumni also talked about their ongoing connection to GFY and the impact of being able to put something back:

Page | 4

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

“It's been good because it lets you know that there are these people out there you can reach out to, and you feel helpful when you help other people.”

Work placement students also gained communications, marketing and design experience as they pitched and delivered creative briefs to the Own It cohorts, designing a company logo. They also contributed to our Christmas preparations, upcycled an abandoned vanity, now in our lounge space, and helped our professional engineer and phone box expert volunteer, Jasper, sand down our KG phone box:

“I am sad to leave, this was the best work experience I have ever had. The Team was very welcoming and nice. 11/10 would come here again, would recommend to a friend.”

Alumni, current participants and work placement students were able to meet and get to know each other at our first Christmas celebration in our own space, with 7 young people attending, as well as our second Spring celebration at the end of March attended by 8 young people. We continued our partnership with Arsenal with Christmas there attended by 18 young people referred through Islington Council. As well as young people our events are inter-generational with volunteers, partners, friends and family as well as staff taking part.

Being in a space set up by people who they felt ‘look like me’ and who they could identify with, had a positive impact on the aspirations and self-belief of alumni, current participants and work placement students alike: :

“Even if you're not care-experienced […] seeing someone make a space for people and show that they don't have to fall into ideas or expectations that other people around them have […] inspires me to ensure that I don't limit myself because of where I am financially or socially.”

Having the chance to network and socialize with other young people, as well as learning new skills and knowledge and getting the direct experience of creating business ideas and putting them into place were cited as key success factors in next steps taken by GFY participants including:

Plans for Future Periods

Page | 5

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

Financial review

During the year the Charity received funding of £293K (2023: £279K) as follows:

Unrestricted income comprised of:

Unrestricted income supported the running costs, development of services, and the fitting out of the Camden premises.

Restricted income comprised of:

Details of the programs supported by the restricted funds are provided in the Notes to the Accounts.

Total expenditure for the year amounted to £256K (2023: £199K).

The largest expenses were related to project activities £135K (2023: £68K) reflecting the increase in activities. Other costs included:

The ‘Support and Other costs’ are ongoing costs associated with the operations that must be maintained from unrestricted sources of funds. These costs relate to legal oversight, professional services, office costs, repairs and maintenance, travel costs, promotional costs, depreciation of assets and the alumni programme costs.

There has been a transfer of funds from the restricted funds to the unrestricted funds of £12K relating to building costs that weren’t recovered in the previous year.

At the end of the year the charity showed a total surplus of £37K (2023: £78K).

Unrestricted deficit -£38K (2023: -19K) Designated surplus £10K (2023: £20K)

Restricted surplus £66K (2023: £78K)

Page | 6

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

The surplus seen in the restricted funds is purely to do with the timing of funds received. With all restricted funds being received in advance of expenditure this will show as a surplus. These amounts are carried forward at the year end, and when spent in future years will appear as a deficit in funds. Over the life of each restricted fund, they will break even to Nil.

The reserves at year end totalled £249K (2023: £211K) broken down as follows:

Principal Funding

During the year the principal funding was from grants – the largest of which were National Lottery Community Fund, Andrews Charitable Trust, Mercers, Tudor Trust, and the Lloyds Bank Foundation. These funds are substantially committed to existing programmes and functions, and further grant applications will be needed, supplemented by ongoing private donations and volunteering, to continue the charity’s work. We have a project pipeline and budgeted costs for the next two years.

Principal Risks

The Trustees and the CEO monitor risks to the operations on a regular basis. Principal risks facing the charity are:

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Investment policy

Aside from the reserves held, the restricted funds are to be spent in the short term in accordance with the funders’ requirements.

As the bank balance has grown there has been scope for short term investment in a deposit bank account, on the provision that cash flow requirements are compromised.

Page | 7

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

Reserves policy

The Board of Trustees has resolved that it will expect to maintain reserves sufficient for its charitable and other activities at the time. Broadly it will target to hold a minimum of 20% of its unrestricted annual running costs as reserves. The need for this approach has been underlined by the recent experience with the unexpected gap in funder support for our core costs outlined above.

The actual figures show that, on this basis, the reserves required are £19K (2023: £26K). Therefore the reserves at the year end of £45K (2023: £71K) show that the reserve policy is met.

Structure, governance and management

The charitable company was incorporated on 31st May 2016 in England and Wales and is limited by guarantee. It is governed in accordance with its Articles of Association dated 22[nd] June 2016 which sets out the objects, powers, board appointment processes and membership. The organisation is both a registered company (number 10206917) and charity (number 1168878), being registered with the Charities Commission on 23[rd] August 2016.

The responsibility for Governance rests with the Trustees, who meet four times a year, or more frequently if, and as, required. During the year ended 31[st] May 2024 they met only three times formally but maintained contact regularly by email and telephone calls. Once a year this Trustees’ meeting is followed by the Annual General Meeting. The Trustees are both the directors of the company, and trustees for the purposes of charity law.

We aim to add an Awayday for all Trustees and staff team once a year. The September 2023 Board meeting was extended into a whole day of planning, and developing strategy, and held on-site at the new premises in Camden.

The Chair of the Trustees or another Trustee meet periodically with the CEO outside the formal Board meetings to discuss other leadership/managerial issues as required, but typically no fewer than six times per year. Day to day management of the organisation is the responsibility of the CEO. The CEO’s salary is funded as part of core costs funding from the Andrews Charitable Trust.

Trustees

The trustees who have served during the year and since the year end are set out below.

Ms Victoria Hancock Fell (Chair) (appointed 11 Feb 2025)

Prof. Andrew James Clifford OBE – former Chair (resigned 11 Feb 2025)

Mr Javed Akhtar (resigned 6 Sept 2024)

Ms Aisha Shamoon Choudhry (resigned 18 Dec 2024)

Mr. Stephen Chufungleung (appointed 11 Feb 2025)

Ms. Janet Martin (appointed 11 Feb 2025)

Ms. Edlira Meshau (resigned 11 Feb 2025)

Ms. Shamanth Pereira (appointed 11 Feb 2025)

Ms. Elizabeth Sengati

Ms Sarah Elizabeth Wiggins (resigned 11 Feb 2025)

Page | 8

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

Recruitment and appointment of trustees

The company’s directors are also the charity trustees for charity law purposes, and under the company’s articles are known as the Board of Trustees.

New members of the Board are recommended to the Board following an interview with the CEO and Chair of the Board. They then meet at least one other Trustee prior to recommendation to the full Board. All potential candidates are considered without prejudice to age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race (including colour, nationality and ethnic or national origin), religion or belief, or sexual orientation and are given a written role description. After recommendation, new appointments must be nominated and then approved by the Board members. The new member shall retain her/his office only until the next Annual General Meeting, at which time she/he is eligible for re-election.

The recruitment of trustees is being pursued with equality, diversity and inclusion at its heart. In particular it is agreed that the board needs to reflect the people the charity serves, and so diversity and representation needs to span age, experience, and culture and heritage, and needs to enable the board:

Looking at the young people we serve, and whilst we are open to supporting all, they come predominantly from the following situations or cultural and religious backgrounds, which we would want to have represented by board members with insight into their needs:

The successful recruitment of four new trustees during 2022 led to their wider involvement in activities through the year under review. Since the year end, in early 2025, there has been a move to a new group of Trustees, led by a new Chair, Vic Hancock Fell.

Induction and training of trustees

All new members of the Board receive an induction pack, which at a minimum includes a copy of Go-Forward Youth’s Memorandum and Articles of Association, most recent Annual Review, and management accounts. The CEO meets with any new trustee to provide additional information, a general introduction to Go-Forward Youth and an explanation and training in relation to the accounts. Trustees agree relevant training needs annually with the Chair, based on the needs of the role, and other training they have obtained elsewhere from relevant charity and other professional roles.

Senior management

The senior management team consisted of the CEO Ms Kadeema Woodbyrne, in liaison with the Board, remunerated on a part time employment contract and works on average as an 0.73 FTE.

Concluding remarks

We are again pleased with our progress this year on several fronts. We have continued to grow our programmes. We see grant funding continue to grow as a proportion of our overall income stream, and partners continue to look for ways to engage with us across a broad range of unmet needs in education, research and clinical services.

Page | 9

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: TRUSTEE’S REPORT (Continued)

_____________

Public Benefit Statement

The trustees confirmed that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit “Charities and Public Benefit”.

Small Companies Exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies regime.

Statement Of Trustees’ Responsibilities

The Trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law and regulations.

Law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the Trustees are required to:-

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement complies with the relevant legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

On behalf of the board

The Trustees’ report, including the strategic report, was approved by the Board of Trustees.

V Hancock Fell Trustee & Chair

Dated: 31 March 2025

Page | 10

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

_____________

I report to the trustees on my examination of the financial statements of GO-FORWARD YOUTH (the charity) for the year ended 31 May 2024.

Responsibilities and basis of report

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

As the trustees of the charity (and also its directors for the purpose of the company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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

Josie Malloy BSc FCA

JM Accountants 137 Cherry Crescent Rossendale BB4 6DS

Dated: 31 March 2025

Page | 11

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: STATEMENT OF FINANCIAL ACTIVITIES including the INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2024

_____________

Income and
endowments from:
Note
Donations and
legacies
3
Charitable activities
4
Other income
5
Total income
Expenditure on:
Charitable activities
6
Raising funds
Governance Costs
Total expenditure
Net
(expenditure)/incom
e
Transfers between
funds
Net movement in
funds
17
Opening fund balance
Closing fund balance
16		 Unrestricted
funds
Restricted
funds
2024
2024
£
£
56,805
-
35,000
200,675
689
-		 Total funds
2024
£
56,805
235,675
689		 Unrestricte
d funds
Restricted
funds
2023
2023
£
£
112,846
-
20,000
145,772
-
-		 Total funds
2023
£
112,846
165,772
-
92,494
200,675		 293,170 132,846
145,772		 278,618
102,336
134,565
17,627
-
1,192
-		 236,901
17,627
1,192		 115,953
67,889
15,188
-
1,197
-		 183,842
15,188
1,197
121,115
134,565		 255,720 132,338
67,889		 200,227
(28,661)
66,110
11,671
(11,671)		 37,449
-		 508
77,883
-
-		 78,391
-
(16,990)
54,439
91,446
119,945		 37,449
211,391		 508
77,883
90,938
42,062		 78,391
133,000
74,456
174,384		 248,840 91,446
119,945		 211,391

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

Page | 12

10206917

GO-FORWARD YOUTH: BALANCE SHEET AS AT 31 MAY 2024

_____________

Fixed assets Note 2024 2024 2023 2023
£ £ £ £
Tangible assets 12 886 -
Current assets
Debtors 13 17,439 11,820
Cash at bank and in hand 235,558 203,373
252,997 215,193
Creditors: amounts falling due
within one year		 14 5,043 3,802
Net current assets 247,954 211,391
Total assets less current
liabilities		 248,840 211,391
Funds 16
Restricted funds 174,383 119,945
Designated Funds 29,768 20,000
Unrestricted funds 44,689 71,446
248,840 211,391

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 31[st] March 2025

Ms V Hancock Fell Chair

Page | 13

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

1. Accounting policies

Charity Information

Go-Forward Youth is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Queen Street Place, London, EC4R 1BE.

Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

No amount is included in the accounts for volunteer time in line with the SORP (FRS 102).

Page | 14

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

Accounting policies (continued)

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include governance costs and other administrative costs. They are incurred directly in support of expenditure on the objects of the charity.

The analysis of these costs is included in note 5.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment 33.3% per annum, straight line Fixtures & fittings 25% per annum, reducing balance

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Page | 15

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

Accounting policies (continued)

Financial instruments (continued)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

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

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

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

Page | 16

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

Accounting policies (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted income that has been designated by the trustees to be used, or ring fenced, for a particular charitable purpose. There is no legal requirement enforcing the designation and can be changed at any time by board approval to meet the needs of the organisation

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.

2. Comparative Figures

The comparative figures have been restated to better reflect the appropriate analysis of certain items of income and expenditure in accordance with the SORP, resulting in no changes to income, expenditure, net movement in funds or fund balances.

Further explanations of the nature and purpose of each fund are included in the notes to the accounts.

Page | 17

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

3. Income: Donations and legacies

Donations Unrestricte
d funds
Restricted
funds
Total
funds
2024
2024
2024
£
£
£
56,805
-
56,805		 Unrestricte
d funds
Restricted
funds
Total
funds
2023
2023
2023
£
£
£
112,846
-
112,846

4. Income: Charitable activities

Unrestricte Restricted Total Unrestricte Restricted Total
d funds funds funds d funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Grants receivable 35,000 200,675 235,675 20,000 145,772 165,772
Unrestricte Restricted Total Unrestricte Restricted Total
d funds funds funds d funds funds funds
Grants receivable
(detailed)		 2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Tudor Trust 35,000 - 35,000 20,000 - 20,000
NLCF – Own It - 135,675 135,675 - 113,448 113,448
YMCF - 15,000 15,000 - - -
City Bridge - 20,000 20,000 - - -
NLCF- Awards for
All		 20,000 20,000 - - -
Hollick Family Trust - 10,000 10,000 - - -
Other - - - - 32,324 32,324
Total 35,000 200,675 235,675 20,000 145,772 165,772

Page | 18

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

Grants received

Tudor Trust: to support 50% of the building running costs

NLCF – Own iT: National Lottery Community Fund - Reaching Communities: For the delivery of Own It, our tailored entrepreneurial training course for young care-experienced adults.

YMCF: Youth Music Catalyzer Fund: Towards the FWD Ctrl pilot project with music producers Gain Ctrl engaging young people in direct experience of music recording and production.

City Bridge Foundation - support the salary of GFY's Youth Manager up to a max of £20K per annum. NLCF- Awards for All - towards salaries and running costs of the newly rented space. £20K per annum to cover £10K CEO costs, £4K running building costs, £6K admin assistant cost.

Hollick Family Foundation - towards extra staff capacity in delivering activities for young people at GFY, mainly for a youth worker and also excess hours of the CEO. £10K per annum for 1[st] of 3 years.

5. Income: Other income

Investment income Unrestricte
d funds
Restricted
funds
Total
funds
2024
2024
2024
£
£
£
689
-
689		 Unrestricte
d funds
Restricted
funds
Total
funds
2023
2023
2023
£
£
£
-
-
-

6. Expenditure: Charitable activities

Grants paid
Staff costs
Property Costs
Support costs
Meetings & events
Professional
services
Repairs &
maintenance
Alumni programme
Subcontractors		 Unrestricted
funds
Restricted
funds
Total
funds
2024
2024
2024
£
£
£
-
92,403
92,403
31,862
32,617
64,480
49,798
667
50,464
9,287
-
8,162
5,130
4,112
9,242
2,713
-
2,713
2,306
3,039
5,344
1,239
-
1,239
-
1,728
1,728		 Unrestrict
ed funds
Restricted
funds
Total
funds
2023
2023
2023
£
£
£
-
67,227
67,227
56,223
-
56,223
53,290
-
53,290
3,170
662
3,832
1,730
-
1,730
1,540
-
1,540
-
-
-
-
-
-
102,335
134,566
236,901		 115,953
67,889
183,842

Page | 19

Charity Registration Number: 1168878

Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

7. Support costs

Office costs
Travel & subsistence
Accountancy
Advertising/promotional
Depreciation
Other costs		 Total
funds
2024
£
5,565
1,286
1,125
837
341
133
9,287		 Total
funds
2023
£
2,730
630
-
410
-
62
3,832

8. Governance costs

Independent examination fee
Insurance		 Unrestricted
funds
Total
funds
2024
2024
£
£
750
750
442
442		 Unrestricted
funds
Total
funds
2023
2023
£
£
-
-
1,197
1,197
1,192
1,192		 1,197
1,197

The independent examination fee for 2023 was a gift in kind.

9. Trustees

During the year no trustees received any remuneration or travel expenses. (2023: Nil).

10. Employees

Number of employees

The average monthly head count was 3.25 (2023: 2.75) and the average monthly number of full-time equivalent employees during the year was 2.25 (2023: 1.8).

Page | 20

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

Employment costs

Gross salaries
National insurance costs (after employer’s allowance)
Pension costs		 2024
£
78,240
1,458
1,424		 2023
£
56,223
-
-
81,122 56,223

No employees received remuneration in excess of £60,000 (2023: None)

11. Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12. Tangible fixed assets

Cost
At 1 June 2023
Additions
At 31 May 2024
Depreciation and impairment
At 1 June 2023
Charge for the year
At 31 May 2024
Net book value
At 31 May 2024
At 31 May 2023		 Office
Equipment
£
-
1,227
1,227
-
341
341
886
-		 Total
£
-
1,227
1,227
-
341
341
886
-

Page | 21

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

13. Debtors

3. Debtors
Trade debtors
Other debtors
Prepayments		 2024
£
-
8,325
9,114		 2023
£
3,495
8,325
-
17,439 11,820

14. Creditors: amounts falling due within one year

4. Creditors: amounts falling due within one year
Other creditors
Accruals		 2024
£
2,923
2,120		 2023
£
2,278
1,524
5,043 3,802

15. Retirement benefit scheme

Defined contribution scheme

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Contributions payable to the pension scheme are charged to the Statement of Financial Activities in the period to which they relate. The charge for the year was £1,424 (2023 - £Nil).

Page | 22

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

16. Total funds: current year

Unrestricted funds:
Core funds
Designated funds
Total
Restricted funds:
Mercer’s
NLCF – Own It
Hub Fit Out
City Bridge
Hollick Family Trust
NYFM
NLCF – Awards for All
Total		 Balance at
1 Jun 2023
Incoming
resources
Expended
resources
Transfers
Balance at
31 May 2024
£
£
£
£
71,446
57,494
(98,349)
11,671
42,262
20,000
35,000
(25,232)
-
29,767
91,446
92,494
(123,581)
11,671
72,029
49,914
-
(9,484)
-
40,430)
67,536
135,675
(92,403)
(11,671)
99,137)
2,495
-
-
-
2,495)
-
20,000
(21,361)
-
(1,361)
-
10,000
-
-
10,000)
-
15,000
(7,307)
7,693)
-
20,000
-
-
20,000)
119,945
200,675
(130,555)
(11,671)
178,395)

17. Total funds: previous year

Unrestricted funds:
Core funds
Designated funds
Total
Restricted funds total		 Balance at
1 Jun 22
Incoming
resources
Expended
resources
Transfers
Balance at
31 May 2023
£
£
£
£
90,938
112,846
(132,338)
-
71,446
-
20,000
-
-
20,000
90,938
132,846
(132,338)
-
91,446
42,062
145,772
(67,889)
-
119,945

Page | 23

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917

GO-FORWARD YOUTH: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (Continued)

____________

18. Analysis of net assets between funds

Fund balances
at 31 May
represented
by:
Fixed assets
Current assets
Current
liabilities
Total		 Unrestricted
funds
Restricted
funds
Total
funds
2024
2024
2024
£
£
£
886
-
886
78,369
174,628
252,997
(4,798)
(245)
(5,043)		 Unrestricted
funds
Restricted
funds
Total
funds
2023
2023
2023
£
£
£
-
-
-
95,248
119,945
215,193
(3,802)
-
(3,802)
74,457
174,383
248,840		 91,446
119,945
211,391

19. Related party transactions

The Own-It programme involves two elements:

Funding to cover this is raised through the charity spanning both sides of the programme. The training element is delivered by the charity; however the trading element is delivered through Go Forward + CIC (registered in England & Wales number 1293068) a social purpose organisation.

Go Forward + CIC is managed and owned by Kadeema Woodbyrne, CEO of GFY, as the sole director and shareholder. The relevant enabling element of the grant funds raised in the charity are passed to the CIC under an agreement as to how the funds are to be applied in accordance with charitable purposes, and within the terms of the original grant.

In the year £92,403 was paid to the CIC (2023: £30,000) under these terms to support it in delivering the trading element of the programme for the third and fourth cohorts of young people

20. Company Limited by Guarantee

The liability of the members is limited. In the event that the company is wound up, every member of the company has promised to pay up to £1 towards the costs of dissolution and liabilities incurred by the company.

Page | 24

Charity Registration Number: 1168878 Company Registration Number (England & Wales):

10206917