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← Young Westminster Foundation

2024-03-31-accounts

Charity registration number 1169255

YOUNG WESTMINSTER FOUNDATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

YOUNG WESTMINSTER FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Brian Bickell (Chair)
Jackie Rosenburg (Founding Trustee
and Vice Chair)
Carol Archibald
Robert Gilbert (Treasurer) (Appointed 1 June 2023)
Jamil Uddin
Rashma Rahman
Karen Scarborough
Jayne Vertkin
Chair Brian Bickell
Chief Executive Helen Mann
Charity number 1169255
Registered office 3 Rupert Court
Soho
London
W1D 6D
Auditor Critchleys Audit LLP
Beaver House
23-38 Hythe Bridge Street
Oxford
OX1 2EP
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

YOUNG WESTMINSTER FOUNDATION

CONTENTS

Page
Chairman's statement 1 - 3
Trustees' report 4 - 11
Statement of trustees' responsibilities 12
Independent auditor's report 13 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 31

YOUNG WESTMINSTER FOUNDATION

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2024

I am pleased to present our annual statement as Chair of The Young Westminster Foundation, following another busy year which has included the publication of our 3[rd] peer led research project – “Our City Our Future, 2023” – providing updated insight into life for young people in Westminster.

A year of ongoing support for our community of young people

Westminster City Council (WCC)

Our relationship with WCC at both an officer and politician level continues to be strong with the Foundation being the key partner around youth provision, and the “Our City, Our Future, 2023” report providing strategic direction for the shaping of services for young people in the borough. Closer collaboration has included working alongside the council to support its Fairer Westminster initiative and ensuring that funding from the North Paddington Project has reached those experiencing the worst inequality in North West Westminster.

Board changes

In June 2023, we were delighted to welcome Rob Gilbert to the Board, Rob brings considerable commercial and finance experience and has worked closely with our CEO to ensure funding streams are sustainable and finances are clear to the rest of the trustees at board meetings.

Our team

Under the leadership of our CEO Helen Mann, the team has been restructured to reflect the growing importance of our commissioned projects. Increasingly funders and stakeholders come to us recognising our expertise as the trusted and expert partner for directing funding to members delivering specialist projects and programmes for children and young people. Nora Loewenberg joined the Senior Management Team in November 2023 as the Director of Programmes and has oversight of the Brighter Futures grants programme, the commissioned projects and services which we oversee.

The range of skills within the team ensures that we have the experience to deliver across the breadth of projects we oversee. Our team of nine now includes experts in the areas of youth work, serious youth violence, youth voice, impact and evaluation and business development.

On behalf of the Board, I would like to thank the team for their exceptional efforts throughout this busy and productive year.

I would also like to thank my trustee colleagues for their continuing support for the important work of the Foundation.

Our activities

This report sets out in more detail some of the work that we deliver to respond to the challenges faced by local young people and youth organisations. This includes:

Our Peer Led Needs Analysis

This year we published our 3rd peer led-needs analysis – ‘Our City, Our Future 2023’. As part of the research, we trained a group of 15 local young people as peer researchers to co-design and carry out the Foundation’s most comprehensive study to date, hearing from 249 young people through peer-led interviews and focus groups. For the first time, 144 parents and carers participated in focus groups and online surveys in addition to 32 youth workers and practitioners.

Working in partnership with research specialist Rocket Science, with support from the University of Westminster, we will use the findings as a tool for the wider Westminster community to collaborate, affect change and to open up conversations about the needs of young people building upon the work from previous studies A City Within A City in 2018 and Our City, Our Future 2021. We believe that youth voice should be at the centre of decision making. Our goal is to identify and address the challenges faced by young people today, all the while ensuring that they are truly at the heart of the conversation.

YOUNG WESTMINSTER FOUNDATION

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Mastering My Future

This year marked the end of the 3-year grant from The Mercer's Company which allowed us to set up and grow our employability programme for young people and employers in Westminster. We were delighted that, following the success of the programme, we have been awarded funding from the Westminster Property Association (WPA). The WPA represents over 240 leading real estate developers, investors and advisors. The investment forms part of the WPA’s commitment to play a key role in providing a more diverse and equitable future for Westminster’s young people.

The partnership will see the WPA commit £255,000 to help fund the Mastering My Future employability scheme over the next three years. It will help fund outreach, as well as a range of training, skills, mentoring and work experience. As part of the scheme, the funds will also help to deliver a bespoke programme to create a pathway into the property sector.

Mastering My Future, which primarily targets those aged 14 to 18, ties in with Westminster City Council’s focus on social mobility and providing residents with local training and employment opportunities. The programme is delivered by YWF member 2-3 Degrees alongside Westminster businesses.

Level Up Youth Work

This year saw the award of a significant grant of £848,000 over 3 years from City Bridge Trust for ‘The Level Up Youth Work’ Programme. The programme aims to invest in the North West London workforce across 6 boroughs, creating a network of skilled, experienced, and connected youth workers. We are the lead partner and overseeing this grant.

Helping Hands

With the insight provided by the 2021 Needs Analysis ‘Our City, Our Future’, we have continued to shape projects based on listening to young people and their communities. An example of this is the Helping Hands programme that was set up in late 2021. The programme addresses the growing issue of youth violence in the northwest of Westminster using a shared community approach. This project has grown from strength to strength and with additional funding has now extended to the northeast of the borough. £50,000 of grants have been distributed by a panel made up of community members for projects addressing Serious Youth Violence in the local community.

Youth Hubs

The infrastructure introduced to support Westminster’s youth hubs has developed over the last year and we have a pivotal role in leading regular steering group meetings, in partnership with Westminster City Council. Our team continues to provide support to the youth hubs in marketing and evaluation working strategically with the Westminster Foundation, one of our funders, to ensure the hubs' resilience and effectiveness.

Our funders

All that we do, and the positive impact we aim to bring to the lives and prospects of Westminster’s children and young people, is made possible by the commitment and generosity of our funding partners. The Board is conscious of our responsibility to ensure the funds we receive are deployed effectively and efficiently to address the needs of those we seek to help.

Looking ahead

The Calls to Action developed as a result of ‘ Our City, Our Future 2023’ have given us plenty of focus for the year ahead. We will be reporting back to our stakeholders and in particular young people on how we are addressing the issues that they identified, and this will include working with the wider business community to look at programmes and ways that can support change.

The years of funding for our Level Up Youth Work programme also gives us time to effect change by supporting youth work practitioners in Westminster and 5 other boroughs through training and qualifications.

Our plans for the coming year also include a refreshed Youth Voice programme reflecting the increased interest in involving young people in all aspects of our work. Our ambition is to support and nurture Westminster’s next generation in a way that is truly shaped by the young people themselves.

YOUNG WESTMINSTER FOUNDATION

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Brian Bickell

Chair

Date: .........................

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Report of the Trustees ended 31 March 2024

The trustees present their report and financial statements for the financial year ended 31 March 2024 and confirm they comply with the requirements of the Charities Act 2011, the Young Westminster Foundation (“YWF” or “the Foundation”) trust deed and the Charities SORP (FRS 102).

Young Westminster Foundation Vision

Our vision is for all young people living in the borough of Westminster to grow up healthy, safe, and happy with the best opportunities for brighter futures.

Young Westminster Foundation Mission

Young Westminster Foundation is a cross-sector partnership which connects our members (youth clubs and children’s charities), funding partners, businesses, and strategic partners to shape opportunities, identify and develop new funding opportunities and create the best services for children and young people in Westminster. This will impact those young people with better outcomes around health and resilience, staying safe, success in education, employment and better social mobility.

We are part of the Young Peoples Foundation model (YPF), working alongside similar, recently formed place-based foundations in other London Boroughs with funding from John Lyon’s Charity to lead the Children and Young People’s sector.

Legal Structure, Governance and Management

The Young Westminster Foundation is a registered charity, number 1169255. It was registered with the Charities Commission in September 2016, constituted as a Charitable Incorporated Organisation.

Our Trustees

YWF is governed by a skilled and enthusiastic board of trustees bringing a mix of private, public and third sector experience. The board currently comprises:

Brian Bickell, Chair - Formerly CEO of Shaftesbury PLC. Brian is a Chartered Accountant and resident of Westminster. He brings extensive strategic experience from his role at Shaftesbury.

Jackie Rosenberg, Founding Trustee of the YWF and Vice Chair. CEO of One Westminster and Deputy CEO of Paddington Development Trust (a YWF Member), bringing extensive knowledge and experience of third sector in Westminster.

Rob Gilbert, Treasurer, previously Robert worked as Executive chairman and CEO of Tile Depot for 23 years, before selling the company to Saint Gobain in 2016. Since then he has chaired Backyard Cinema from 2017-2022 when it was sold to the Sony Corporation. Robert is also involved as treasurer in another charity which is a similar size to YWF and is currently executive chairman of Living Space Design.

Karen Scarborough. An elected Westminster, City Councillor, Karen has extensive knowledge of the Council's policies and operations and supports with corporate sector networking and fundraising.

Carol Archibald, Director of Programmes at Avenues Youth Project. Carol is a Westminster resident and brings a wealth of experience through her youth work practice.

Jayne Vertkin, Regional Youth Hub Advisor for Central Government. Jayne retired from her role at Westminster City Council in September 2021 where she served as Head of Early Help. She has worked in Westminster for 41 years. She is supporting YWF with fundraising and government commissioning.

Jamil Uddin grew up in Westminster and studied at Warwick University. Jamil worked with YWF as a Young Ambassador in 2017.

Rashma Rahman (appointed 5 April 2022) works as a teacher at King Solomon Academy, Westminster. Rashma grew up in Westminster, worked with YWF as a Young Ambassador in 2017 and also completed an internship with us in 2019.

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Board

The Board is responsible for the charity’s governance and strategy and for making sure the charity is administered effectively and according to its charitable purpose. We held an annual organisational away day in November 2023 bringing senior staff and trustees together to review current activities and discuss future strategy. The Board meets formally every quarter, with both the CEO in attendance. All meetings are serviced and recorded by our Operations Manager. We have established a hybrid model offering face to face and digital attendance.

The board includes representatives from our member organisations and reflects the geographic and cultural

diversity of the Borough.

Existing trustees and the CEO have joint responsibility for identifying and encouraging new trustees. Once a potential new trustee has been identified they are invited meet with one or more trustees and the CEO. If all goes well, they are then proposed, seconded and voted in at the following meeting. Once appointed new trustees have an induction process to make sure they are fully aware of their responsibilities as a charity trustee.

Board development is an ongoing process. Training opportunities are shared with trustees whenever they arise, and trustees are encouraged to attend any staff wide training that occurs. Board Away Days usually occur annually which allow the Board to be fully involved in strategy and forward planning for the year ahead. As we are part of the YPF Network we are able to access best practice training in line with the Young People’s Foundation Trust guidance and trustees are able to participate in cross network opportunities greatly enhancing their trustee experience.

We have a Board Handbook to ensure that trustees are aware of their roles and responsibilities and each of our policies has a trustee assigned to them to ensure that they are up-to-date and that governance arrangements continue to be appropriate.

The Chair and CEO meet regularly to enable support and resilience. The Board has remained dedicated and supportive of our work, they are to be thanked, as volunteers for their time and commitment.

Staff

We have nine paid members of staff, and the team is led by Helen Mann who has been with YWF since 2017. She joined as Business Development Director and moved into the CEO role in September 2022. Helen is joint chair of the City Council’s Early Help Board ensuring our work is strategically aligned with WCC.

Policies and procedures

We have identified and adopted a range of organisational policies and procedures to ensure we manage our activities effectively, efficiently and meet current legislation and best practice. We continuously review our policies and procedures to ensure they are relevant and up to date and have continued to add to our policies where we see there is need. This year we have introduced a cyber policy and a lone working policy.

Risk Management

The Board has put in place a risk register which is reviewed at each board meeting. The register reviews all aspects of the charity’s activities and puts in place measures to identify and mitigate risks.

Public Benefit

The trustees have complied with their duty to have due regard to the Charity Commission’s Public Benefit Guidance (PB1 the Public Benefit Requirement, PB2 Public Benefit Running a Charity and PB3 Public Benefit Reporting) when exercising powers or duties to which the guidance is relevant.

Objectives and Activities

The objectives of the Foundation are:

a. The promotion of the voluntary sector primarily in the City of Westminster, in particular by building the capacity of charitable and voluntary organisations working with children and young people and providing them with the necessary advice, support, information, training and services to enable them to pursue their charitable purposes and improve the efficiency and management of their resources.

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

b. To advance in life and relieve the needs of young people through making grants to charities and voluntary organisations that do any or all the following:

Our Strategic Aims

The Foundation and the YPF Trust have a shared commitment to developing a culturally competent approach within our organisation, partner organisations and across the wider YPF network. Our members represent the diverse communities in Westminster.

Our Activities

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

Funding and Grant Making

Our approach for grant making includes an application process for our member organisations with due diligence undertaken by our Grants and Evaluation Manager followed by recommendations to an independent grants panel, which comprises funders, young people and strategic partners.

We continue to develop and adapt our grant making processes to remain flexible whilst managing risks.

Through our Brighter Futures Fund we bring together funders, Westminster City Council and corporate partners to co-invest funds into a single grants programme to provide an efficient funding mechanism for member organisations within Westminster.

During the year, the Brighter Futures Fund made 34 grants totalling £387,946. This year’s funding was made available by Westminster City Council, the John Lyon’s Charity, St George and St Giles Charities with further contributions from our business partners.

We launched our second capacity building grants programme for Helping Hands, a project to address serious youth violence in north Westminster. The success of the project resulted in additional funding from the Mayor for London’s Violence Reduction Unit (via Westminster City Council) to replicate the programme in the North East area of Westminster. With a grants panel made up from members of the local community, we made 10 grants totalling just under £50,000 across the North East and North West of the borough. In line with the desired project outcomes, the project is increasingly managed by the community.

We have again partnered with the City Council to manage the Holiday and Food Activities programme (HAF) and half term activities. We gave out £763,246 in grants between Easter 2023 and February 2024.

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Commissioned and Special projects

The Foundation identifies gaps in provision and brings together partners and funders to address issues and needs. The following projects have been commissioned by us and delivered by our member partners over the last year:

Young Ambassador / Peer Research programme – Our City Our Future

Acting on a commitment to update our report and findings every 3 years this year saw the publication of our Peer Led Needs Analysis Our City our Future.

Working closely with the City Council’s Youth voice Team we launched the report at a Question Time event for young people in conjunction with Westminster University

The event saw Westminster service providers and policy makers and politicians face questions from young people and resulted in a series of Calls to Action being drawn up to shape the work of YWF over the coming year.

The report highlighted a range of issues for young people including health and wellbeing, Education, employment and training, the importance of Youth voice and youth action, the potential negative effects of the Internet and social media and the increase in young people concerned about the longer-term effects of vaping.

The Cost-of-Living crisis came up as a key theme underpinning many of the comments and views of young people with 85% of young people reported being aware of the cost-of-living situation and 35% stating it was a concern.

Future plans include training for youth workers in how to discuss these issues with young people and working with service providers to develop programmes and services that address these issues.

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Our Members

This year we undertook a review of our member which now comprises of around 100 organisations ranging from large Youth Clubs to smaller grassroots organisations, who share a passion to provide support services that will give life changing support to Westminster’s young people. Members have specialist skills in a range of interest areas such as arts or sports and are focused on providing young people with educational and vocational activities, youth enterprise, training opportunities, healthy lifestyles and nutrition.

We work strategically with five youth hubs and oversee a steering group of the hubs in partnership with WCC who provide funding for their core activities. These hubs are:

Our wider membership includes a range of organisations delivering a huge variety of activities and programmes for Westminster’s children and young people.

Through our activities we are a consistent supporter, friend and funder for all our members.

Our Impact

Our City, Our Future 2023/24 Report Launch

Seventy-seven local young people, parents, members and partners attended our 'Question Time' launch of our third 3rd peer-led needs analysis report, “Our City, Our Future 2023”. The audience posed questions to a panel of local decision makers on issues that matter most to them e.g. knife crime, mental health, housing, the climate crisis, and job prospects in Westminster. Young researchers presented their findings, calling on the community to take action around the core themes identified. We continue to actively consult to ensure the research recommendations are embedded into the YWF community, having already commissioned key training on issues like social media and vaping to address unmet needs.

Impact of Grant Making

Our theory of change represents the overall aims of our partnership, encompassing both member organisations and the YWF itself. This provided a basis for evaluating the impact of our programmes and grants. We co-developed a data framework with youth hubs and members to consistently collect key data ‘types’, helping assess whether our grants and supported projects achieved intended outcomes.

The framework, piloted by Youth Hubs in 2022, was implemented with Brighter Futures Funding (BFF) grantees this year. We provided guidance on collecting four key data types: user data, engagement data, feedback, and outcomes. Consistent reporting of user and engagement data revealed BFF provided 3,191 opportunities for children and young people, 1,199 living in deprived areas, with 76% from global majority backgrounds. This insight has assisted us to identify provision gaps, partnership opportunities, and areas needing further evaluation and monitoring support.

BFF fund reached demographic groups in higher proportions than the overall Westminster population, including females, those under 10 years old, and those of Asian, Black African, Irish, and/or Arab ethnicities. Common outcomes of projects aligned with our theory of change, including improved wellbeing, social-emotional learning, and reduced isolation for children, young people, and families.

In Summer 2023, we developed a parent/carer feedback survey for the Holiday, Activities and Food Programme (HAF). From 242 responses, the biggest impacts were parents less worried about activities for children (78%), children being more physically active (63%), and reduced worries about food and money (34%). 97% of children said they would go back, with most respondents reporting new learning, new friends, increased physical activity, and feeling safe.

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Helping Hands Programme is built on community empowerment for those directly or indirectly impacted by youth violence. It comprises three key areas: a Community Network, Fund, and Capacity-Building for local organisations. One community funded project, ‘Girls Allowed’ run by our member organisation ESP, delivered over 100 multi-sports holiday sessions in a safe setting for young violence-affected women.

Impact of The Level Up Youth Work Programme

We lead this NW London network connecting youth sector practitioners across 6 boroughs, targeting practitioners in small community-led organisations for specialised training opportunities. By Q3, 18 forums facilitated networking, best practice sharing, and engagement with decision-makers/commissioners. 339 practitioners attended forums, with 323 taking up a diverse range of training places. 94% of Westminster practitioners plan to apply their training, citing the new links and partnerships as most helpful part of the sessions.

Member Survey

Our most recent membership feedback survey was conducted in March 2023 and found 83% of respondents said we have added significant value to the sector, with increasing funding and corporate investment highlighted as our most important role. We are due to undertake a new survey early in the next reporting year to understand the value we are providing and ways to improve membership support. We continuously gather feedback at events and forums, with members speaking positively about our supportive efforts in areas from grassroots training and development to strategic development of organisations.

Our Partners

As well as working with our members to support them and better understand their needs, our work in growing a community of support for young people in Westminster brings together a wide range of organisations to fund our operations and grant making.

Westminster City Council

The City Council is our most important partner with whom we collaborate closely on our shared vision to improve lives of young people living in the City of Westminster. We have developed good working relationships across the City Council with key councillors including cabinet and shadow cabinet members for Economic Development, Education & Community and Family Services & Public Health. We also have a strong network across council departments including Children’s Services, Public Health, Economy, Community Safety and Policy, Housing and Performance and Communications.

The City Council provides funding for our core operating and staff costs as well as funding for projects we manage and commission on their behalf.

Other Funders

In addition to Westminster City Council our funders include:

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

We also received funding of £255,000 over 3 years from Westminster Property Association (WPA) for our Mastering my Future programme.

Business Partners

We continue to build long-term mutually beneficial partnerships with businesses, with a focus on the need for ongoing support as opposed to short term commitment. Their funding commitment ensures that our Brighter Futures grants round continues to grow year on year.

Our 2023 Needs Analysis was partly funded by business partners with an interest in really understanding the needs of local young people.

Looking ahead

We have set the following priorities for the year to March 2025

Reserves

The purpose of the Reserves Policy is to ensure the resilience of our finances so that we maintain the financial and staff resources to deliver our strategy and goals.

The Board keeps under review the Foundation’s current and prospective financial position, taking a prudent view of future income streams, the levels of expenditure required to meet both existing commitments and the impact of future expansion of its activities, as well as the macro environment in which it operates. The Foundation does not use debt to fund any aspect of its operations.

YOUNG WESTMINSTER FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Foundation’s Unrestricted Reserve represents the accumulated financial resource available to us. The Board has agreed a minimum level of reserves which it considers to be prudent, which is kept under review, to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding, or uninsured losses. In the event that the Unrestricted Reserve fall, or are expected to fall below the minimum level, the Board will take the necessary and swift remedial action to restore reserves to at least the minimum position. In the event of a current or prospective material excess above the minimum level, subject to the Foundation’s medium-term plans and financial outlook, the Board would seek either to further deploy funds in furtherance of its stated charitable objectives or consider a reduction in future funding requests or return of funds to core funders.

Position at 31 March 2024

Taking into account the Foundation's current and anticipated medium term activity and the general economic outlook, currently the Board considers it prudent to maintain an Unrestricted Reserve level equivalent to at least six months' annual expenditure (excluding grants made and direct project costs).

At 31 March 2024, the Unrestricted Reserve stood at £304,800, exceeding six months' average expenditure incurred in the year by £141,000.

Financial review

During the year ended 31 March 2024 the charity had total income of £2,189,047 and total expenditure of £2,046,699 resulting in net income of £142,348. Our finances are robust and our Unrestricted Funds are above the minimum level of Operating Reserves set by the Board.

The year saw an increase in the Foundation’s income and expenditure on grants and projects. See Statement of Financial Activities on page 16. Our income sources continue to grow which has enabled us to grow our financial support to our members.

Trustees’ responsibilities in respect of the financial statements

The Charity Commission requires the trustees to prepare financial statements each year which give a true and fair view of the financial transactions of the Foundation during the year and of the disposition at the end of the Foundation year of the assets and liabilities and contain the information specified in relevant regulations. The trustees are required to:

The trustees are responsible for keeping proper accounting records, in accordance with trust law, which disclose the financial transactions and the assets and liabilities with reasonable accuracy. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.

The trustees' report was approved by the Board of Trustees.

.............................. Brian Bickell (Chair) Trustee

Date: .............................................

YOUNG WESTMINSTER FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

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

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Young Westminster Foundation and of the incoming resources and application of resources of the Young Westminster Foundation for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Young Westminster Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Young Westminster Foundation and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

YOUNG WESTMINSTER FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF YOUNG WESTMINSTER FOUNDATION

Opinion

We have audited the financial statements of Young Westminster Foundation (the ‘Young Westminster Foundation’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Young Westminster Foundation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Young Westminster Foundation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

YOUNG WESTMINSTER FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG WESTMINSTER FOUNDATION

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Young Westminster Foundation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

YOUNG WESTMINSTER FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG WESTMINSTER FOUNDATION

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Kirtland (Senior Statutory Auditor) for and on behalf of Critchleys Audit LLP

18/7/2024

.........................

Chartered Accountants Statutory Auditor

Beaver House 23-38 Hythe Bridge Street Oxford OX1 2EP

Critchleys Audit LLP is eligible for appointment as auditor of the Young Westminster Foundation by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

YOUNG WESTMINSTER FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
346,315
1,839,271
Investments
4
3,461
-
Total income
349,776
1,839,271
Expenditure on:
Charitable activities
5
327,588
1,719,111
Total expenditure
327,588
1,719,111
Net income
22,188
120,160
Transfers between
funds
(6,500)
6,500
Net movement in
funds
6
15,688
126,660
Reconciliation of funds:
Fund balances at 1 April 2023
289,112
207,204
Fund balances at 31 March
2024
304,800
333,864		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
2,185,586
372,300
1,765,867
3,461
1,363
-
2,189,047
373,663
1,765,867
2,046,699
267,480
1,728,897
2,046,699
267,480
1,728,897
142,348
106,183
36,970
-
(10,978)
10,978
142,348
95,205
47,948
496,316
193,907
159,256
638,664
289,112
207,204		 Total
2023
£
2,138,167
1,363
2,139,530
1,996,377
1,996,377
143,153
-
143,153
353,163
496,316

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

YOUNG WESTMINSTER FOUNDATION

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
10
Current assets
Debtors
11
313,688
Cash at bank and in hand
641,929
955,617
Creditors: amounts falling due within
one year
12
(326,953)
Net current assets
Total assets less current liabilities
Net assets
Income Funds
Restricted funds
15
Unrestricted funds		 2023
£
£
10,000
126,680
573,164
699,844
(218,528)
628,664
638,664
638,664
333,864
304,800
638,664		 £
15,000
481,316
496,316
496,316
207,204
289,112
496,316

The financial statements were approved by the trustees on .........................

.............................. Brian Bickell (Chair) Trustee

YOUNG WESTMINSTER FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Note: £333,864 of cash or cash equivalent at
end of year is restricted for existing project
commitments		 2024
£
3,461		 £
65,304
3,461
-
68,765
573,164
641,929		 2023
£
1,363		 £
157,675
1,363
-
159,038
414,126
573,164

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Young Westminster Foundation is a Charitable Incorporated Organisation (CIO).

1.1 Accounting convention

The financial statements have been prepared in accordance with the Young Westminster Foundation's Charitable Incorporated Organisation Articles of Association, the Charities Act 2011 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 Young Westminster Foundation is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Young Westminster Foundation. 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.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Young Westminster Foundation 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Young Westminster Foundation 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.

Grants are recognised in the financial statements when due. Donations are recognised when received. Sales are recognised when the related services have been provided.

Cash donations are recognised on receipt. Other donations are recognised once the Young Westminster Foundation 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 Young Westminster Foundation 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.

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is accounted for on an accruals basis and includes irrecoverable VAT. Grants payable are recognised as expenditure when payment is due to the partner organisation in accordance with the terms of the agreement.

1.6 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 so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Young Westminster Foundation 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).

1.8 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.

1.9 Financial instruments

The Young Westminster Foundation 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 Young Westminster Foundation's balance sheet when the Young Westminster Foundation becomes party to the contractual provisions of the instrument.

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.

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Young Westminster Foundation’s contractual obligations expire or are discharged or cancelled.

1.10 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 Young Westminster Foundation is committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

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

2 Critical accounting estimates and judgements

In the application of the Young Westminster Foundation’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Depreciation

During the year, depreciation of £5,000 has been charged. This is an estimate based on the useful life of fixtures and fittings being 4 years and having a 25% straight-line depreciation policy.

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
15,957
20,000
Grant income
213,500
1,620,079
Business partner income
-
199,192
Other
116,858
-
346,315
1,839,271		 Total
Unrestricted
funds
2024
2023
£
£
35,957
8,863
1,833,579
110,000
199,192
12,000
116,858
241,437
2,185,586
372,300		 Restricted
funds
2023
£
-
1,586,442
179,425
-
1,765,867		 Total
2023
£
8,863
1,696,442
191,425
241,437
2,138,167

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 3,461 1,363

5 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Grants
Direct project costs
Recruitment, training and other staff costs
Rent and office expenses
General expenditure
Analysis by fund
Unrestricted funds
Restricted funds		 2024
£
391,555
5,000
1,489,689
61,707
32,150
27,965
38,633
2,046,699
327,588
1,719,111
2,046,699		 2023
£
361,688
5,000
1,470,771
87,811
21,164
17,286
32,657
1,996,377
267,480
1,728,897
1,996,377

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 5,400 4,860
Depreciation of owned tangible fixed assets 5,000 5,000

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Young Westminster Foundation during the year.

8 Employees

The average monthly number of employees during the year was: 9

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:		 2024
Number
9
2024
£
336,890
36,028
18,637
391,555
2024
Number
1		 2023
Number
8
2023
£
311,893
34,100
15,695
361,688
2023
Number
-

9 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.

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

10
Tangible fixed assets
Cost
At 1 April 2023
At 31 March 2024
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
11
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
13
Trade creditors
Other creditors
Accruals		 Fixtures and
fittings
£
20,000
20,000
5,000
5,000
10,000
10,000
15,000
2024
2023
£
£
225,840
67,000
87,848
59,680
313,688
126,680
2024
2023
£
£
2,873
9,833
171,790
20,000
24,668
14,902
2,397
2,586
125,225
171,207
326,953
218,528		 Fixtures and
fittings
£
20,000
20,000
5,000
5,000
10,000
10,000
15,000
2024
2023
£
£
225,840
67,000
87,848
59,680
313,688
126,680
2024
2023
£
£
2,873
9,833
171,790
20,000
24,668
14,902
2,397
2,586
125,225
171,207
326,953
218,528
20,000
5,000
5,000
10,000
10,000
15,000
2023
£
67,000
59,680
126,680
2023
£
9,833
20,000
14,902
2,586
171,207
218,528

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

13 Deferred income

Deferred income
2024 2023
£ £
Other deferred income 171,790 20,000

Deferred income is included in the financial statements relates to grants received in the year relating to planned activities in 2024/25.

Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024
14
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
171,790
20,000
(20,000)
171,790
171,790
2024
£
18,637		 2023
£
20,000
10,000
(10,000
20,000
20,000
2023
£
15,695

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

Defined Contribution Plan

Young Westminster Foundation encourages employees to make plans for their retirement by offering a 6% employer contribution to the NEST pension scheme. NEST is a Relief At Source pension scheme and employees are encouraged to make a minimum 5% contribution to further enhance their pension fund.

In 2023/24 Young Westminster Foundation recognised £18,636 as employer pension contribution in the SOFA. This was further allocated as £6,295 from Restricted Funds and £12,341 from Unrestricted Funds.

Employees that are allocated to projects that are funded by Restricted funds are included in the Restricted funds part of the calculation. Staff members that work across both restricted and unrestricted projects have had the appropriate % of their ER pension contribution split across both restricted and unrestricted parts of the calculation.

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 April 2022 resources expended 1 April 2023 resources expended 31 March 2024
£ £ £ £ £ £ £ £ £
Brighter Futures Fund - 374,925 (346,350) - 28,575 370,192 (387,946) - 10,821
Church St Forum 4,000 - (4,000) - - - - - -
Church St Pilot 60,230 30,000 (55,238) - 34,992 35,000 (41,379) - 28,613
Cultural Connections - 16,805 (16,805) - - - - - -
HAF 23 21,993 440,590 (455,355) - 7,228 501,142 (500,420) - 7,950
Half Term Activities - 155,877 (155,877) - - 237,332 (235,159) - 2,173
John Lyons HSC - - - - - 15,500 - - 15,500
LGBTQ++ - 15,000 (15,000) - - - - - -
Mastering My Future 44,536 141,000 (150,147) - 35,389 118,500 (66,157) - 87,732
Mental Health - 67,000 (30,000) - 37,000 - (39,000) 2,000 -
Needs Analysis and Young Ambassadors - - - - - 55,000 (26,641) - 28,359
Level up Youth Work (Propel) - - - - - 233,500 (129,723) 103,777
Our City - - (199) 199 - - - - -
Refugee Support 19,005 - (5,501) - 13,504 - (817) - 12,687
Ruffer - 5,150 (5,150) - - - - - -
Helping Hands (formerly Serious Youth
Violence) 9,092 117,453 (76,180) - 50,365 150,082 (164,346) - 36,101
Summer Activity Funding - 213,349 (214,214) 865 - 25,390 (28,890) 3,500 -

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Restricted funds

Restricted funds
Uniforms
Workforce Development
Young Ambassadors
Young Carers
Time and Talents
Others		 -
-
-
-
-
401
159,256		 1,000
(1,000)
25,000
(25,059)
(4,855)
30,000
(35,000)
132,717
(132,717)
-
(250)
1,765,866
(1,728,897)		 -
59
4,855
5,000
-
-
10,978		 -
-
-
-
-
151
207,204		 -
-
-
14,583
83,050
-
1,839,271		 (1,000)
-
-
(14,583)
(83,050)
-
(1,719,111)		 (Continued)
1,000
-
-
-
-
-
-
-
-
-
-
151
6,500
333,864		 (Continued)
1,000
-
-
-
-
-
-
-
-
-
-
151
6,500
333,864
333,864

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Restricted funds

(Continued)

During the year, Young Westminster Foundation transferred amounts from unrestricted funds to those restricted funds that would otherwise have been in deficit.

Brighter Futures Fund - Grants Programme all paid to members to fund activities for young people in Westminster

Church St Pilot - Funding for Future Men working to fund activities working with young people who are transitioning from primary to secondary school and an additional youth worker.

HAF 23 - Holiday Activities Funding for young people on Free School Meals funded from Department For Education via City of Westminster.

Half Term Activities - Funding from City of Westminster and The Westminster Foundation to fund half term activities in member organisations.

John Lyons HSC- Funding from John Lyons targeted at new members who have not received John Lyons funding previously.

Mastering My Future - Our ongoing employability programme offering workshops work experience and mentoring for young people. Funding is mainly provided to 2-3 degrees plus some activity partners.

Mental Health - Funding from College of Northwest London /NHS via City of Westminster to support Mental Health in older young people ( 16-25 ) . Delivery partner is Future Men.

Needs Analysis and Young Ambassadors - A funded piece of research to evaluate and quantify the needs of young people in the borough. This is supported by a group of young people we use for consultation, events, training opportunities and to be member of our grant panels.

Level Up Youth Work (Propel) - Funded by City Bridge Trust and working together with other Young People’s Foundations in London, this is a three-year project designed to capacity build the youth worker sector. This is done by providing training, forums, accredited qualifications and knowledge sharing. Young Westminster Foundation is the lead partner and is responsible for holding and distributing funding, monitoring, reporting and evaluation.

Refugee Support - Fundraising campaign and activities for refugees and asylum seekers as a response to the ongoing refugee crisis in Afghanistan and Ukraine and longer term asylum seeker resident in Westminster Funded via Individual Donations and Goldman Sachs.

Serious Youth Violence - SYV Project is now called Helping Hands – The programme revolves around creating interventions that are led by the voices of young people and community members who have been affected by youth violence. Led by YWF in partnership with community organisations and youth clubs in the North and South of the borough.

Summer Activity Funding - Funding from City of Westminster to fund additional Summer Holiday activities for young people in member organisations.

Time and Talents - Corporate volunteering scheme

Uniforms - Funding from British Land PLC to fund school uniforms for refugees and asylum seekers in conjunction with St Andrews Youth Club

Young Carers- Young Carers Navigator Funding from City of Westminster. Delivery partner is Dream Arts

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
General funds 289,112 349,776 (327,588) (6,500) 304,800
Previous year: At 1 April Incoming Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
General funds 193,907 373,663 (267,480) (10,978) 289,112
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 10,000 - 10,000
Current assets/(liabilities) 294,800 333,864 628,664
304,800 333,864 638,664
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 15,000 - 15,000
Current assets/(liabilities) 274,112 207,204 481,316
289,112 207,204 496,316

17 Analysis of net assets between funds

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Lessee

At the reporting end date the Young Westminster Foundation had outstanding commitments for future minimum lease payments in regard of the rental of their current premises under non-cancellable operating leases, which fall due as follows:

2024 2023
£ £
Within one year 5,400 7,200

YOUNG WESTMINSTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Related party transactions

Transactions with related parties

Trustee Karen Scarborough is a Councillors of Westminster City Council and board member of Harley Street Business Improvement District. Jayne Vertkin is an employee of Westminster City Council. During the year Westminster City Council and Harley Street Bid provided funding to the Young Westminster Foundation of £1,375,269 (2023 1,274,694).

Brian Bickell was until his resignation on 6 March 2023 the Chief Executive Officer of Shaftesbury Plc which provided funding to the Young Westminster Foundation totalling £47,050 in the year to 31 March 2023.

Trustee Jackie Rosenberg is the Deputy Chief Executive Officer of Paddington Development Trust and board member of North Paddington Partnership which received funding from the Young Westminster Foundation under the Brighter Futures Fund totalling £31,070 during the year (2023 - £4,420).

Trustee Carol Archibald is employed by The Avenues Youth Club and director of Oyin London which received grants and funding from the Young Westminster Foundation totalling £63,038 during the year (2023 - £73,808).

20 Analysis of changes in net funds

The Young Westminster Foundation had no material debt during the year.

21 Cash generated from operations

Cash generated from operations
2024
£
Surplus for the year
142,348
Adjustments for:
Investment income recognised in statement of financial activities
(3,461)
Depreciation and impairment of tangible fixed assets
5,000
Movements in working capital:
(Increase) in debtors
(187,008)
(Decrease)/increase in creditors
(43,365)
Increase in deferred income
151,790
Cash generated from operations
65,304		 2023
£
143,153
(1,363)
5,000
(20,349)
41,234
10,000
177,675