Charity registratlon number 1169255 (England and Wales) YOUNG WESTMINSTER FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 YOUNG WESTMINSTER FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Brian Bickell (Chairl Jackie Rosenburg (Founding Trustee and Vice Chairl Carol Archibald Robert Gilbert {Treasurer) Rashma Rahman Karen Scarborough Jayne Vertkin Chair Brian Bickell Chief Executive Helen Mann Charlty number 1169255 Registered office 3 Rupert Court Soho London W1D6D Auditor Gravita Audit Oxford LLP First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ YOUNG WESTMINSTER FOUNDATION CONTENTS Pago Trustees, report Statement of trustees, responsibilities 11 Independent aLSditorfs report 12-14 statement of financial activities 15 Balance sheet 16 Statement of cash flows 17 Notes to the financial statements 18-31 YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Report of the Trustees ended 31 March 2025 The trustees present their report and financial statements for the financial year ended 31 March 2025 and confirm they comply with the requirements of the Charities Act 2011, the Young Weslminsler Foundation ('YWF' or 'the Foundation") trust deed and the Charities SORP IFRS 102). About Young Westminsler Foundation Vision Our vision is for all young people living in the borough of Westminster lo grow up healthy, safe. and happy with the best opportunities for brighter futures. How we work Young Westminster Foundation supports our 120 member organisalions, fostering a vibrant youth and children's sector in Westminsler. We work to build partnerships that leverage support and funding from funders. businesses, local statutory authorities and other stakeholders to enable delivery of high-qualily services for children and young people in Weslminsler. We focus on enabling better outcomes for young people with interventions that build confidence, connections and youth leadership,- 8UPPOrting better health and safer communities- and enabling success in education, employment and improved social mobility. We are part of the Young People's Foundation (YPFI model, working alongside similar place-based foundations in five North West London boroughs, with funding from John Lyon's Charity lo support the Children and Young People's sector. We forge partnerships. share our knowledge and support sector capacity-building work in Westminster in collaboration with the Young People's Foundations and other stakeholders. Enabling better outcomes for children and young people We are a consistent SUPPORTER, friend and funder for all Young Westminster Foundation Members. We are an ambitiovs and knowledgeable COLLABORATOR for Westminster City Council, businesses and wider partners. We are an active LISTENER for local young people and youth workers, responding to emerging needs. We are an engaged AMPLIFIER who works with those in power to advocate for local issues. We are an ambitious FUNDRAISER for investment in life4hanging opportunities for young people and brighler futures. YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, Governance and Management The Young Westminster Foundation is a registered chanty, number 1169255. It is constituted as a Charitable Incorporated Organisalion. Our Trustees YWF is governed by a Board of trustees bringing a mix of private, public and third sector experience. The Board currently comprises: Brlan 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, Wice Chair. Founding trustee, CEO of One Westminster and Deputy CEO of Paddington Development Trust la YWF Member), bringing extensive knowledge and experience of the third sector in Westminster. Rob Gilbert, Treasurer, forrnerly Executive Chairman and CEO of Tile Depot, Chair of Backyard Cinema and Executive Chair of Living Space Design. Karen Scarborough. An elected Westminster City Councillor. Karen has extensive knowledge of its policies and operations and supports the events workstream and corporate sector networking and fundraising. Carol Archlbald, Director of Programmes at Avenue5 Youth Project. Carol is a Westminster resident who brings a wealth of experience through her youth work practice. Jayne Vertkin, Regional Youth Hub Advisor for Central Government. Jayne retired from Westminster City Council in September 2021 where she served as Head of Early Help. She has worked in Westminster for 41 years. Rashma Rahman works as a teacher at King Solomon Ac8demy, Westminster. Rashma grew up in Weslminster, worked with YWF as a Young Ambassador in 2017 and also completed an internship with us in 2019. Jamll Uddin stood down from the Board in January 2025. Jamil grew up in Westminsler and studied at Wa￿1Ck University- Jamil worked wilh YWF as a Young Ambassador in 2017. The Board The trustee Board is responsible for the charity's governance and strategy and for making sure the charity is administered effectively and according to ils charitable purpose. The Board and the CEO have joint responsibility for identifying and recruiting new trustees. Prospective truslees are invited lo 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. The Board includes representatives from our member organisations and we seek to ensure that it reflects the geographic and cultural diversity of the borough. The Board meets at least quarterly to discuss operational, finance and employee matters. In addition, it meets periodically to review strategy and fO￿ard planning for the year ahead. The Chair and CEO meet regularly to di5CUSS the operational environment and activity- YOUNG WESTMINSTER FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We have a Board Handbook and induction procedure lo ensure that trustees are aware of their roles and responsibilities. Each policy has a Iruslee assigned to it lo ensure that guidance is up-to-date and that governance arrangements continue to be appropriate. Board development is an ongoing process. Training opportunities are shared with truslees whenever they arise, and trustees are encouraged to attend staff-wide training. As we are part of the Young People's Foundations IYPFI Network we are able to access best practice training in line with the YPF Trust guidance. Trustees are also able to participate in cross network opportunities which enhance their trustee experience. Employees We have nine paid members of staff. and our team is led by our CEO Helen Mann. who has been with YWF since 2017. Helen is joint chair of the City Council's Early Help board, ensuring our work is strategically aligned with Westminster City Council. Risk management The Board has pul in place a risk register which is reviewed at each Board meeting. The register reviews all aspects of the charity's 8clivities and puts in place measures to identify and miligate risks. Public benefit The trustees have complied with their duty to have due regard lo 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. strategic aims Our four strategic aims are designed both in response to our understanding of local needs and to fulfil the legal purpose for which our organisation was established. Members: Helping youlh clubs and youth organisations to thrive. Supporting youth organisations become more efficient and effective through training, information sharing. advice, networks, research and advocacy. Partnerships: Fostering a community who care about Westminster's young people. Supporting cross- sector collaboration, brokering partnerships between members. business partners and strategic partners. Funding: Generating long term investment for youth organisations and young people in Weslminster. Increasing long term funding into the youth sector in Westminster through con50rtia grant applications, corporate investment and individual philanthropy. Knowledge: Listening. learning and sharing. Maintain and sustain ourselves as a resilient, informed, go-to organisation for funders, businesses, Westminster City Council and other stakeholders for local expertise and knowledge of sector. The Foundation and the YPF network have implemented a cultural competency approach within our organisation, partner organisalions and across our wider YPF network. We work with and represent diverse communities within Westminsler. Many of our member organisalions are led by global majority groups. YOUNG WESTMINSTER FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our activilies and impacts The trustees have paid due regard to guidance issued by the Charity Commission when establishing a programme of activities. YWF plans are rooted in a strong understanding of community needs. We collaborate closely with our partner nelwork and are guided by the findings from our membership engagement work and annual survey of members. We draw on the findings from our triennial peer-led needs analysis, Our City, Our Future 2023124, for which a team of youth researchers engaged with young people, youth workers. practitioners, parents and carers to explore the issues and experiences of young people growing up in Westminster. Impact measurement is embedded across all our grant making and programme delivery. We use dala collection tools that have been co-created with our membership and sector experts, using insights from focus groups, surveys and interviews lo gather insights from young people, parents, practitioners and other stakeholders. Funding and grant maklng A significant driver for YWF'S work is addressing the major funding gaps in the youth and children's sectors- this is backed up by our membership who have reported through our member su￿eY that our most important role is to increase funding opportunities. In 2024125 we have been able to support Weslminsler organisalions with a variety of grant making opportunities including.. core funding,. Holiday Activities and Food support., a fund for Westminster's supplementary schools,. interventions to prevent serious youth violence,. and two NHS collaborations one looking at mental health in global majority communities and the other facilitating prevention work in relation to di50rdered eating. YWF'S grant making approach is flexible and we adapt to each opportunity we idenlify. We ensure that prospective grantees are given clear and accessible application and reporting processes and, where we can, have integrated funding advice surgeries to enable prospective grantees to receive help with project planning and applications. We undertake thorough due diligence and application reviews. Grant decisions are made by expert and independent grant panels, which include youth and community representation. Westminster Brighter Futures Fund Our flagship programme is the annual Westminster Brighter Futures Fund, for which we awarded 32 granls totalling £419,000 for youth and children's organisalions across Westminster in 2024125. The fund is designed to respond lo the needs of young people in Westminster as identified in the Our City, Our Future 2023124 report. We also encourage providers to work with Youth and Family Hubs across the borough and to align with Westminster City Council's Early Help Strategy 2022-2025. Our grant panel priorilised applications that demonstrated clear understanding of local need, a strong youth voice element and effective evaluation practice. Our Brighler Futures reporting process has enabled us to capture project reflections (looking at successes and challenges plus next steps} and demographic information (such as session attendance). We also gather together anonymised snapshols of lived experience from each project.. this consist5 of a case study compiled with a young person or their parenl that shows their joumey through the programme, the activities Ihey took part in and outcome5 achieved. Our data reveals that 3,549 young people benefited as a result of the grants given out during the previous grant round in November 2023. We are pleased to have almosl doubled Ihe Brighter Future Fund since its inception in 2019. Now in its sixth year, the Brighler Futures Fund has become a vital lifeline for many organisations in Westminster who are experiencing greal demand for their Se￿IceS against a backdrop of financial uncertainty, rising costs and reduction of funding into the seclor. In 2024125, we continued to support successful projects that have previously been funded as well as funding new projects offering high quality activities for young people in the borough. These range from 5POrts (including cricket, football, b8dminlon, basketball ) to arts leg manga, music, drama), to employability, environment and social action programmes. The fund is supported by Westminster City Council, John Lyon's Charity, Westminster Almshouses, St George and St Giles Charily and Westminster business partners. Our 2024125 business partners were.. Shaftesbury Capital. Howard de Walden Estate, Eyre Estate, Lazari Investments Ltd, London Town Group, Aziz Foundation, Berkeley Estate Asset Management, British Land, Capital Arches Group, FM Conway, Dement London, GPE, Veolia, The Other House, Total Media and the Portman Foundalion. YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Addltlonal Grant Funds In 2024125 we partnered with Westminster City Council to manage both their Holiday and Food Activities programme IHAFI and half term activities funds. We awarded £801,432 in grants during the year supporting more than 30 organisations lo deliver holiday clubs and healthy meals to school age children. Community Solutions grants lotalling £320,000 were awarded in March 2025. This iniliative was offered in partnership with Young K&C, the Vibrant & Healthy Communities IVHC) Programme, Kensington & Chelsea Social Council, One Westmin51er, and NHS North Wesl London ICB. We awarded grants to 11 organisations who will be running two-year projects supporting children, youth and families to improve mental health awareness, address stigma and improve take up of mental heallh Se￿iceS among global majority communities. John Lyon's Charity's small grants funding round enabled us to support five small youth and children's organisations in Westminster with core funding. £39,000 of grants were awarded in 2024125. An NHS collaboration with Central and North West London NHS Trust enabled us to support 6 Westminster youth organisations in June 2024 with projects to support prevention of disordered eating. The total grant fund was £65.000. In March 2025, we also made five grants Ihrough our Supplementary Schools Fund totalling £22,500. These grants will benefit children and families from a range of backgrounds, including Albanian. Persian, Sudanese and Arabic communities. YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Programmes and projects YWF identifies gaps in provision and brings together partners and funders to address issues and needs. The following projects have been delivered over the last year.. Level Up Youth Work programme YWF lead5 the Level Up programme which is strengthening youth work across six London boroughs. Smaller communily-led youth services receive specialist training. which remove barriers to qU81ifications and enable opportunities for practitioners and young people to step into leadership roles. Over a Imo-year period the programme has delivered 51 forums connecting frontline workers to share best practice and understand local training needs. 901 training places were taken up and 90 courses were delivered. 78 /0 of participants reported that training has helped them develop new skills and become more confident as a practitioner. Additionally, we have brokered relationships and p8rtnerships across North West London. enabling grealer collaboration between grassroots organisations and the Young People's Foundations that support them. Level Up is funded by a major granl1£848,000 over 3 years) from City Bridge Foundation as part of the London Funder Propel funding stream. YWF is the lead partner working closely with five other YPFS in Harrow, Kensington & Chelsea, Hammersmith and Fulham, Camden and Ealing. Helplng Hand5 programme Our Helping Hands programme addresse5 serious youth violence in Westminster. Building on the successes of recent years, this project is increasingly managed by the community and it has expanded this year so that it is now able to offer support across seven wards in the north west, north east and south of Weslminster. The programme strengthens community cohesion, trust and resilience through bringing people together, engaging and empowering young people, working with local community leaders and creating safe community spaces. Community networks have been established. to enable spaces where community residents and practitioners can openly discuss the impact of violence and explore ways to prevent it. Capacity-building work is another strand of the programme. Under the community funding component of the programme we were able to give out our largest ever number of capacity building grants this year. with 18 grants in tot81 and an overall budget of £90,000. Grants have been given to initiatives that support children and young people across a wide range of areas-. employability skills (life skills, confidence, empowermenl. literacy and numeracy, mentoring. entrepreneurshipl. creative skills IDJ training, music production, videography and editing)., and sports (boxing, footb811). Many grants offer education about the risks and realities of crime covering topics such as.. combating child financial exploitation- county lines involvement., deterring violence., and family engagement to prevent crime. Helping Hands is funded by Westminster City Council, London's Violence Reduction Unit and Young Westminster Foundation. YOUNG WESTMINSTER FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Youth Volce programme Our skills, development, and engagement programme for 1￿24-Year-oldS who live, work, or study in Westminster was refreshed in 2024125. We put together a training offer for young people looking for opportunities to make a difference. The Westminster YEPI programme included opportunities to leam skills in communication, grant-making, peer mentoring and other areas. We had an enthusiastic group of 14 young participants and all of them told us that they would recommend the experience to a friend. Impact measurement for thi5 programme looked at knowledge, Skills, confidence and access. Participants were offered eight sessions over the course of the programme and we saw that their confidence improved across all areas and particularly in relation lo networking, pitching ideas, grant making and peer research. Young people also felt that the programme offered benefits in relation to promoting connections, particularly in relation lo strengthening professional networks, social groups and through offering influencing and leadership opportunities. During 2024125 we also worked wilh a wider group of Youth Associates. young people who have had an involvement in our peer-led needs research, or undertaken other leadership, training and Skills developmenl with YWF. We are enabling these young people to confidently express their views in a variety of forums, drawing on their personal experiences and knowledge of young people's needs and how the youth and children's sector can best support those. Our Youth Associates are speaking up.. at events,. through digital communicalions channels., and by getting involved with grant-making panels and trusteeship roles. Mastering My Future programme This employability initiative has offered workshops, work experience and mentoring lo introduce young people to a wide range of career and employment opportunities on offer in Westminster duriT7g 2024125. We work ¢105ely with our programme delivery partners at 2-3 Degrees and our funding partners at WPA (Westminster Property Associalionl as well as eight of the WPA member businesses.. Berkeley Estate Asset Management, Gerald Eve, Great Portland Estates, The Howard de Walden Estate, Landsec. The Pollen Estate, Shaflesbury Capital, Soho Estates. Mastering My Future funding tolalled £80,000 in 2024125. YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our Members Our membership consists of 120 organisations ranging from large Youlh Clubs to smaller grassroots organisations, who share a passion lo provide support services that will give life changing support to Westminster's young people. We work strategically with five youth hubs and oversee a steering group of the hubs in partnership with WCC, which provides funding for their core activities. These hubs are.. Fourth Feathers Avenues Youth Project St Andrews Youth Club Churchill Gardens Youth club Amberley Youth Club Two of the five youth club hubs - Churchill Gardens and Amberley - experienced transitions in management during 2024. We advised on decision-making during the transition period which has now successfully concluded. London Tigers, a London sports and community charity, have taken on the two hubs for an interim period of 18 months until March 2026. A full consullation is planned in bolh areas ahead of recommissioning a long-lerm provider. Our wider membership includes organisations delivering a huge variety of activities and programmes for Westminster's children and young people. YWF supports members to work collaboratively and we gather insights from them to guide our work through ongoing engagemenl and an annual survey. Our 2024 survey was conducted in November and members reported that we have added 51gnificant value lo the sector. Members reported that they highly value our work forging partnerships and en8bling collaboration, our research and our information sharing about local needs. We are perceived as an organisation that is effective in responding to and representing the needs of diverse communities and respected for our work to develop and support global majority people and organisations. Our work to support sector funding is valued very highly. Members have shared their ideas for how we can improve and strengthen our offer, and this is fed into our strategy and business planning. Requests included seeking more frequent communications and engagement, advocacy and influencing work, greater opportunities for collaboration and partnership within the sector, supporting access to safe and appropriate venues and a continued focus on capacily-bkjilding. Through our activities we seek to be a con51Stent supporter, friend and funder for our membership. 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 Westminster. We have developed good working relationships acr05S the City Council with key councillors including cabinet and shadow cabinet members for Children's Services, Education & Community and Farn￿ly Services & Public Health. Following redrawing of constituency boundaries and since the general election in July 2024 we now have three new MPS representing parts of Westminster, with whom we are working closely. We also have a strong network across council departments including Children's SeNices and Early Help, Public Health, Economy, Community Safety and Policy, Housing and Performance and Communications. Our work with the Communities team has become more significant with developments in the North Paddington and Pimlico areas, following an ongoing programme of regeneration in Church Street. 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 including funding towards our Youth Voice Programme. YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other Funders In addition to Westminster City Council our funders include.. John Lyon's Charity: gives grants to benefit children and young people up to the age of 25 who live in nine boroughs in North West London. The charity, whose mission is to promote the life-chances of children and young people through education, contributes to our core operating and staff costs. City Brldge Foundation is the funding arm of Bridge House Estates. It provides gr8nls towards charitable activity benefitting Greater London and is a contributor to our core operating and staff costs. City Bridge Foundation funds our Level Up Programme. St Giles and St George Charities are a local funder who have contributed lo our Bnghter Futures grants round. Westminster Foundation.. The Duke of Westminster's charitable foundation contributes to our core staffing. Business Partners We continue to build long-term mutually beneficial partnerships with businesses, with a focus on securing ongoing support. This funding has ensured that our Brighter Futures Fund continues to grow year-on-year. A three-year commitment from Westminster Property Association and its member businesses enables us to deliver our employability programme, Mastering My Future. Looklng ahead Business plan We are about lo embark on a planning exercise for the next strategic period with our staff team and Board, which will be guided by our peer-led needs analysis researth alongside our members survey and eng8gemenl work. Priorities for 2025126 We have set the following priorities for the year lo March 2026.. Young People's Needs Analysis: continue to follow up on the Calls to Action from our 2023 Needs Analysis and start designing the 2026 Needs Analysis Level Up Youth Work North West London: continue to lead on our partnership project to develop the skills and capacity of the youth sector workforce across six North West London boroughs and to reflect on its learning Youth Volce programme: strengthen our co-produced initiatives that build young people's leadership skills, ensuring they play a central role in shaping Westminster's future Grant making: continue to offer flexible. needs-led grants and funding opportunities for our membership Communi¢atlons and advocacy: increase YWF'S profile and standing in Westminster and seeking out spaces where we can amplify the voices of praclilioners and young people to advocate for the youth and children's sector,. building engagement among members, partners and businesses through effective and impaclful communications and events Fundraising: focus efforts on sustaining and expanding our programmes and grant making activities over the ¢oming years Tackling Serious Youth Violence: sustain and grow the Helping Hands Programme in Westminster. YOUNG WESTMINSTER FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financlal position and reserves Reserves policy The purpose of the Reserves Policy is lo ensure the resilience of our finances so that we mainlain the fi'nancial and staff resources to deliver our strategy and go81s. The Board keeps the Foundation's current and prospective financial position under review, taking a prudent view of future income streams, and the expenditure required lo meet existing commitments and the impact of future expansion of its activities. The Foundation does not use debt to fund any aspect of its operation5. The Foundation's Unrestricted Reserve represents the accumulated financial resource available to us. The Board has agreed an aim of ensuring sufficient unrestricted funds are sel aside to cover six months, operating costs. This policy is kept under review. It was increased from four months in 2024 due to persistently high levels of cost and Salary inflalioll in the UK, the negalive outlook for the national economy and public sector funding, and an expected expansion of our activities over the medium lerm. Organisational reseNes are intended 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 evenl that Ihe Unreslricted Rese￿eS fall, or are expected lo fall below the minimum level, the Board will take the necessary and swift remedial action to ￿stOre reserves to at least the minimum position. Financial review Position at 31 March 2025 Al 31 March 2025, the Unrestricted ReseNe stood at £348,263, equivalent to eight months, average operaling costs, which exceeded the minimum level set by the Board by two months. The Board will continue to closely monitor the level of reserves, taking account of macro economic outlook, including persistent inflation, the impact of potential cuts to local authority budgets and grant funding generally, and the need to sustain and grow the Foundation's current activilies in an increasingly challenging medium term environment. Flnancial review In the year ended 31 March 2025 the charity had total income of £2,460,079 and total expenditure of £2,406,193 resulting in net income of £53,886. Our finances are robust and our Unrestricted Funds are in excess of the minimum level of Operating Reserves set by the Board. The year saw a significant increase in the Foundation's income and expenditure on grants and projects. See Statemenl of Financial Activities on page 16. Our income sources continue to grow which has enabled us to grow our financial support to our members. The Irustees, report was approved by the Board of Trustees. Sk161h 516kell Brian Bickell (Chairl Trustee Dale.. 07128125 10- YOUNG WESTMINSTER FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees are responsible for preparing the Trustees, Report and the financial slalements in 8ccordance 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 slatements 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 Iruslees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP- make judgements and estimates thal are reasonable and prudent; stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statemenl8', and prepare the financial statements on the going concem basis unless il is inappropnate lo presume that the charity will continue in operation. The trustees are responsible for keeping sufficienl 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 a￿ 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. 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 Weslminsler 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-. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent., slate whether applicable accounting stand8rds have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. 11 YOUNG WESTMINSTER FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF YOUNG WESTMINSTER FOUNDATION Opinion We have audited the financial ststements of Young Westminster Foundation (the 'Young Westminster Foundation,) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and noles lo the financial slatements, 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 Slandard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclice). In our opinion, the financial statements.. give a true and fair view of the slate of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the Charities Act 2011. Basls for opinion We conducted our audit in accordance wilh Inlernalional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for th8 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 appropriale to provide basis for our opinion. Concluslons relating to golng concern In auditing the financial st8lemenls, we have concluded thal the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriale. Based on the work we have performed. we have not identified any material uncertaintie5 relating to events or conditions that, individually or collectively, may cast significant doubt on Ihe Young Westminster Foundation's abilily to continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respecl to going concem 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 stalemenls 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 infomiation is materially inconsislent with Ihe 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 misslatements, 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 perfomed, we conclude that there is material missiatemenl of this olher information, we are required to report that fact. We have nothing to report in this regard. 12 YOUNG WESTMINSTER FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG WESTMINSTER FOUNDATION Matters on whlch we are required to report by exceptlon We have nothing to ￿pOrt in respect of the following matters in relation lo which the Charities (Accounts and Reports} Regulations 2008 requires us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respecl with the trustees, report., or sufficient accounting records have not been kepl,. or the financial statements are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit. Responsibllltles 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 Irustees 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 Yokjng Westminster Foundation's ability lo continue as a going concern. disclosing, as applicable, matters related to going concern alld using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic altemative but lo do so. Auditor's responsibilitie5 for the audit of tho financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevanl regulations made or having effect Ihereunder. Our objectives are lo 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 auditols report that includes our opinion. Reasonable assLJrance is a high level of assurance but 18 not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslaternent when it exists. Mis5talements 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 slatemenls. 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 web511e at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Your attention is drawn lo the fact that the charity has prepared financial stalements 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 extanl 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 Praclice. 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 Ihat we might slate lo the charity's trustees those matters we are required to stale 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 lo 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. 13- YOUNG WESTMINSTER FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG WESTMINSTER FOUNDATION Robert Klrtland (Senior Statutory Auditor) For and on behalf of Gr8Vlta Audit Oxford LLP, Statutory Auditor Chartered Accountants First Floor, Park Central 4041 Park End Street Oxford OX1 1JD Date.. Gravita Audit Oxford LLP is eligible for appointment as auditor of the Young Weslminster Foundation by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006. 14- YOUNG WESTMINSTER FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Investments 382,579 4,006 2,054,494 2.437,073 4.006 346,315 1,839,271 2,185,586 3,461 3,461 Total income 386,585 2.054,494 2,441.079 349.776 1,839,271 2.189,047 Expenditure on: Charitable activities 343,122 2,063,071 2,406,193 327,588 1,719,111 2.046,699 Total expenditure 343,122 2,063,071 2,406,193 327,588 1,719,111 2,046,699 Net Incomel{expendlturel 43.463 18,5771 34,886 22,188 120,160 142.348 Transfers belween funds 16,5001 6,500 Net movemenl In funds 43,463 18,5771 34,886 15,688 126.660 142,348 Reconcillation of fund5: Fund balances al 1 April 2024 304,800 333.864 638,664 289,112 207,204 496,316 Fund balances at 31 March 2025 348,263 325,287 673,550 304.800 333,864 638,664 The statement of financial activities inciudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 15 YOUNG WESTMINSTER FOUNDATION BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 10 7,795 10,000 Current assets Debtors Cash at bank and in hand 11 191,695 1,083,770 313,688 641,929 1,275,465 955,617 Creditors: amounts falling due withln one year 12 (609,710) {326,953} Net current assets 665,755 628,664 Tolal assets less current Ilabllltles 673,550 638,664 Net assets 673,550 638,664 Income Funds Restricted funds Unrestricted fund5 15 325,287 348,263 333,864 304.800 673,550 638.664 The financial statements were approved by the trustees on 07128125 Brian Bickell (Chairl Trustee 16- YOUNG WESTMINSTER FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating actlvlties Cash generated from operations 21 440,630 65,304 Investing activltles Purchase of tangible fixed assets Investment income received 12,795) 4,006 3,461 Net cash generated from investlng activities 1,211 3.461 Net cash generaled from flnancing activltles Net increase in cash and cash equivalents 441,841 68,765 Cash and cash equivalents at beginning of year 641,929 573,164 Cash and cash equivalents at end of year 1,083,770 641,929 17 YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcies Charlty informatlon Young Westminster Foundation is a Charitable Incorporated Organisation ICIO). 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Young Westminster Foundation's Charitable Incorporated Organisation Articles of Associalion, the Charities Act 2011 and "Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" The Young Westminster Foundation is a Public Benefit Entity as defined by FRS 102. The financial slatements 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 Slatement of Recommended Praclice for charities applying FRS 102 rather than the version of the Stalemenl 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 Foundalion. Monetary amounts in these financial statements are rounded to ihe 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 lime of approving the financial stalemenls, 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 concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of Ihe trustees in furtherance of their charitable objectives. Re51ricted funds are subject to specific condition5 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 15 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 on receipt, 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 al the time of the donation. Legacies are recognised on receipt or otherwise if the Young Westminster Foundation has been notified of an impending distribution, Ihe amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 18 YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng 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 lo that activity. Costs which contribute to more than one activity and support costs which 8re 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 lime spent, and deprecialion charges are allocated on Ihe 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 org3nisation in accordance with the tems of the agreement. 1.6 Tangible fixed assets Tangible fixed assels are initially measured at cost and subsequently measured al 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 /0 Straight line The gain or loss arising on the disposal of an asset 18 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 Impalrment of fixed assets Al 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 exlenl of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-lerm 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 Inslrumenls, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of ils 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 nel arrounts presented in the financial stalemenls, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously. 19 YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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 Ihe transaction is measured at the present value of the future receipts discounled 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 transaclion price unless the arrangement conslilutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al 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 wilhin 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. Derecognltion 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 reGognised 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. 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 assumplions about the carrying amount of assets and liabilities thal are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Aclual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimales 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 25010 Straight-line deprecialion policy. 20- YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donations and legacies Unrostricted Restricted funds funds Total Unrestricted funds Restricted funds Total 2025 2025 2025 2024 2024 2024 Donations and gifts Grant income Business partner income Other 12,529 229,450 17,693 1,818,151 218,650 30,222 2,047,601 218,650 140,600 15,957 213,500 20,000 1,620,079 199,192 35,957 1,833,579 199,192 116,858 140,600 116,858 382,579 2,054.494 2,437,073 346,315 1,839,271 2.185.586 Income from Investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 4.006 3,461 Expenditure on charitable activities 2025 2024 Direct costs Staff costs Depreciation and impairment Grants Direct project costs Recruitment, training and other staff costs Rent and office expenses General expenditure 408,901 5,000 1,816,763 75,195 12,778 30,468 57.088 391,555 5,000 1,489,689 61,707 32,150 27,965 38,633 2,406,193 2,046,699 Analysls by fund Unrestricted funds Restricted funds 343,122 2,063,071 327,588 1,719,111 2,406.193 2,046,699 21 YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl{creditingl'. Fees payable for the audit of the charills financial statements Depreciation of owned tangible fixed assets 6,000 5.000 5,400 5,000 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the Young Westminster Foundation during the year. Employees The average monlhly number of employees during the year was.. g 2025 Number 2024 Number Employees Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 353,485 32,693 22,723 336,890 36,028 18,637 408,901 391,555 Redundancy and temiination payments totalling £6,000 were made in the reporting period. This was an ex- gratia redundancy paymenl which was paid in full in December 2024. The number of employees whose annual remuneration was more than £60.000 is as follows: 2025 Number 2024 Number Taxation The charity is exempt from tax on income and gains falling within Section 505 of Ihe Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these a￿ applied to its charitable objects. 22- YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Tangible flxed assets Cycle to Work Flxtures and Schème fittings Totsl Cost Al 1 April 2024 Additions 20,000 20,000 2,795 2,795 At 31 March 2025 2,795 20,000 22,795 Depreciation and Impairment Al 1 April 2024 Depreciation charged in the year 10,000 5,000 10,000 5,000 At 31 March 2025 15.000 15,000 Carrying amount At 31 March 2025 2,795 5,000 7,795 At 31 March 2024 10,000 10,000 11 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 127,500 64,195 225,840 87,848 191,695 313.688 12 Creditors: amounts falling due withln one year 2025 2024 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 10,025 393.406 16,722 2,853 186,704 2,873 171,790 24,668 2,397 125,225 13 609,710 326,953 23- YOUNG WESTMINSTER FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Deferred incomo 2025 2024 Other deferred income 393,406 171,790 Deferred income is included in Ihe financial statements relates to grants received in the year relating to planned activities in 2025126. 2025 2024 Deferred income is included within.. Current liabilities 393,406 171,790 Movements in the year.. Deferred income at 1 April 2024 Released from previous periods Resources deferred in the year 171,790 (171,7901 393,406 20,000 120,000) 171.790 Deferred income at 31 March 2025 393,406 171.790 14 Retlrement benefit schemes 2025 2024 Defined contribution scheme$ Charge lo profit or105s in respect of defined contribution schemes 22,723 18,637 The Young Weslminster Foundation operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from Ihose of the Young Westminster Foundation in an independently administered fund. Defined Contribulion Plan Young Westminster Foundation encourages employees to make plans for their retirement by offering a 6Y. employer conlribulion to the NEST pension scheme. NEST is a Relief Al Source pension scheme and employees are encouraged to make a minimum 50/0 contribution to further enhance their pension fund. In 2024125 Young Westminster Foundation recognised £22,723 as employer pension contribution in the SOFA. This was further allocated as £9,214 from Restricted Funds and £13,509 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 unreslricled projects have had the appropriate 0/0 of their ER pension contribution split across both restricted and unrestricted parts of the calculation. -24- Ooo¢J>0￿ roo0￿(￿ (NrLnrorm (YJ O) ¢7) CCSJVOtrO￿￿o O Lfj ￿ Q ¢7> 0 <0 O O Ln fOCQOrinLnt (N tri CD m Ln tr) tQ-(D VLn (N ID OJ ¢¢7JLD 0￿0 (w a) o) (fj (F) Ln Ou)ooooG)￿oo oNOooort￿oo O¢DOLnoo(OCDOO 000 In￿0 a)0 o*(ri N ( IJJ (N Ln ts) orto u)Noro ¢J) w Ln IJ) Ln Or ino*(N na) (N(woo *v)00 Ln Ln in CL Q) £0 C7J ooc IIJ