GENERATION EXCHANGE (A Charitable Ino)rFmted Chganisation) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charlty Reglstrth Numb•r. I1765 Cwwy CENJ8301
GENERATION EXCHANGE REPORT AND F14ANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Contsnts Page Referertt and admiiwstraive inf0MtiC Tnle8s. report Independ1 Examiners reF* ststement offinanGial Balanc8 sh88t io Notes to the financial slatemts 11
GENERATION EXCHANGE REFERENCE & ADMINISTRATIVE IIFORMATh)M YEAR ENDED 31 MARCH 2024 Trust••s Maura Pearson pdade D'SIa R•gl¥tsred Offlc• MLtswell Hill Centre HIlekI Pa Muswell Hill Lonthjn N10 3QJ ¢ountants Da-s18 AsKKi8185 Limit*AI Chartered Ceitified AccfAJntants 14 Fam CkAe Essex RMIO 9TX Bank•r¥ CAF Bank Limited 25 Kings Hdl Avenue Kings Hill Wesl Malling Kenl ME19 4JQ
GENERATION EXCHANGE TRUSTEES, REPORT IEAR ENDED 31 MARCH 2024 The Trustees wesent their retaxt together ith the financial statsmth)ts GeratI Exthge Ilhe thantyl for the ended 31 March 2024. The Trustees confim) that the knnual R8rth and ffinancaal stslements ofthe (arity c(xnpty vilh the 8nl stslulory requirements, the requirements crf the charills govemiro drKAJmenl and Ihe proMsith)s of the Slalement of R8commended Pwtice ISORP), aptlicabb lo chanties wepanrwJ their aco)unts in attordance the Finanaal Reporting stdard atvlicable in the UK Repubbc Ll Ireland {FRS 1021 leffec1p 1 January 20191 Obj•ctives and acti¥itses for th ben•fft alth• publ1¢ (al Structurn The Charty Yas constituted as a Charity Inc4NpOra1 (nISaty1 by a 9(1j (kument daled 19 0(aober 2016. Generation Exthange was wist8red Chanty Commi55i(m fly England and Wab5 19 Odober 2016, registration nurthr1169765, its registsred address MUS11 Ph'll Centre. Hillfidd Part(. Hlll, London N10 3QJ. Detsils ofthe trusl88s ar prcleSska attIts8 are 8h¢M C page1. Ib} ObJ•ctlv•¥ The Charity's obje¢fves are to advance edul2ti( of thiklren ts the wbk benefft by utilising the ¢tynm77enl and Ilfe experience of older peoe as vc4untser ffvnber5 ofthe comrrnjnty. To advanc8 the educaion ol older pec(le for the knefft by ub'liswig the oThYnrtnwnl arKI practi exwierKe of thildren and your¥J Fecwe, in partiar in rekib'ffi lo lethndcgy and dvJital thlls. In 88tting th8ir cl'8th88 for the pèriod, arvj in pkgnnirMJ ts tho fijlure, and With thJ8 regard to lh8 wblIsh Charity CommissKJn guidan&8 on the of Ihe Publc B8nefft rfyy]uirernenl of Ihe Charities 2011, the Irusle8s havè undertaken appropriatè activthes in furtheran of those aims for the twfiL The Chlty has estthished ts grant makn'ng wlicy ts acPM8Ve rts ct¥'gthvès for the Wb1 benefit. Achlw•m•nts and p•rfomw lal Flnanclal w¢vl•w The ststefflenl of fin8n(#al acti¥ities a nel exFemIre the Jar of £1.89212023". £4,081). Al 31 Marth 2024 Charity h•J ret assets of £13,371 (2023. £11,479), of 7hthith unre5tFithd fvnds were £11,43312023: £6,051) and reslricled fijnds *ere £1,93812023. £5,428). Generation Exchange has ken successfvl in rts eighth year of operation. We are grateful to acknowledge fvjnding from the Cty Bridge Trust and TL)3ether For Londcm thmugh Lond Community FwThJatson and PeadY Cfflimunity Fund, again Ihrough Ldon Community Foundat#, enabl'ng Generalkw ExchaThJe to ddiver a full Tange of projects in ryderto athieve r chantsble c4)J, woth'rwJ vth and supm'ng obJer r•e, th'ldren arml yourKJ pwle in mosl disadvantaged parts of Haiingey and Enfield.
GENERAnON EXCHA14GE TRUSTEES. REPORT {conttnuadl YEAR ENDED 31 MARCH 2024 The CostUving Crisis and our StskehoklerAd¥lw Group The oyJsl•of4Mng crisis has, and ccnts'nues to. prrwrb'CaldY ifflpact U[¥ ihe thildren, Ynger and older who live in Haringey and Enfield tsl we wjk and SUPF(¥t. The impad of the tt61-of4iMrvJ crisis is dearty ev7dent in th6 Iiv8s of Ihe pewe we WO with in wr lttal cnnIty. tt affects thar Wfa, their menlal health, and their access land ability lo acrmsl perse31 and leaming OprtuneS. Generati( EXthge activety It51ens to iyjr local community to understand, respcd lo Iheir needs, an(i the build and develop wc4ects Imth the k)cal gjnmunity. Fdloving this wth our local communsty we then eVale and cMts'nu8 to refine (wr resp)nse. Generation Exchangè focuses delrrfering prqects and wtsJrammes of SUFWt to communities wlh needs in Hartngey and Enfidd, parbcularty in rdation lo issuès affKting the n88ds of thildTen. as well as ywnger and older pecple, many of whom are isota18d, disadvantaged and arè in vulnwable groups in these th)gh$. We wcrtk i&tha[ wlh bcal communty groups by holding regularmeetings ofcwr Stakehdder Athl5 GTCdJF6. Al thèse fftings wè ar8 abkgto listen to lived experi8nc8 and are direct fèedtéth ab(Art we can help. In this way we activety reath cwt to our loral communty and pde a community fryum and meetirKJ space womding infmned lJback gives cleaf direction lo r projects and prc3rafflmes. Generation Exthange is grateful lo acn(rhledge the SJFVOrt d all d Ir lunders has enablJ us to adapi the way we Work for our benefiaaries as well as being able lo re¥(nd to varirAJS nth¥ and deveky'ng needs these cCmuni1es have laced, such as fd and heal P)vety. digital exclJ%on {al a ts'me vknen and mce seNces are attessible cfilinel and inrxeasing Isolat and vulneratmty of th8 c4yrmunib.es and age groups swve in Haringey and Enfield. Peabody Ctynmunlty Fund and Londw Clxrffiunlty F¢)und•tlon.' Generation &Kthange gratefully acknovA&Jges a genèrws Wdrd of £19,696 for a twoèar from the Pèabc Communlty Fund thrjgh the London Cc¥nrnunty Foundalion {from Aw'l 2023 to March 20251. Generation Meet Share Exchange 1$ a Peabody resthnl-led wcyect ha8 evow from a series of meeL talk and support SessicS in a loc41 café to a fully4unctioning interggmeralaI fcod pr¢ied bawj in a Ictal Comrnuntyed pub. This prriect has been in the process of develcfffient over several years. iknr this b'me Generation Exchange has worked dosely wnh Pea residents to Sha and run regular activities vthith, lo the SFeofic needs of Ic1 rts5ents and tt)eir family rcumstsnces. fc&Jsses C Fyoviding p)rt fcv famiheslc2ras children aThJ ajurts CoM8X needs such as autism, pSythS and depress. In year one of thi8 twear prr4ect tho Peabody Residents SlewsrKJ Group and Generati Exthange have been able to devdop frn 'ng a Cale4ed prqect to cffle Ihal tn9$ lcd peoF4e tcqethef around the preparati, cooking and sharing of fjd. lknf the year 23 se¢8 were delvwed ffKused preparirwJ heathy fwd a get to groups of up 10 30 local residents. In addllfjon lo this In September 2023 Genernlion Meel Sharn Exchange berne a fulty Interyeneralional prlect with students from Ihe thal altem8tiv6 prNsKJn (aged 14 - 16 years) attending fcd and games sessons their teachers, beo¥)rning fvlty invofv8d vAth frxKI preparation and the sharing of meals, as as pkw'r¥J games ith clder wple frc both the Peabody estsle and other k¢al Te&dts. Y think communty projeds like ttjis are few and far telw. I tthnk we n8ed rn0 of Ihem. and I Ihink that everyw that att8nds now, and gol quite a mix ofa group, realty gets a great deal out ofil. We have a good 1 and a good ch* aTrJ il niiht be the ortyone they have week'{Peabctyresidenl agBd 45yea) 'My favouiyle part meeling Ihe young people from schcA)l havxw an exthange of our cuttuTr, such as Ihe things we used lo do and how we bought up, andhowtheyare now, it's veryinleres&ng" (olderperson aged 74 yeaTrJ
GENERAMON EXCHANGE TRUSTEES, REPORT Icontinuedl IEAR ENDED 31 MARCH 2024 Togèth8r foy London through thè London Communty Foundthn Togethèr fc¢ LdOn wth Lond knmunty FcJndatirm g8nerwsly fijnded )eration Exchange £9,789 from Apnl to Seplemb&r 2023 towards the set up and runr#ng costs of menlal heamh suptxyl sesscfis in the Pavilion Calé in Bruce Ca5de P8At in Tottenham. Pr costs to the deve1cwl of this prO1t as thg proiecl tran&tioned from a r8gular grwp that m81 for tslk and sut4KJrt vith &ght Tefreshments in a llxal café lo a fulty-funCti1ng foc1 wi8d with a broader reath in a ictal c0mmunitythovm wb. Together for Lond fijnds proded vitsl wojectdevebpmenl in the lo of Health and Safety and Kitchen Hygiene training for staff, fvday mental health training for staff. vdunteers and truste85 and the salary and costs for the delivery of 20 sessicffjs wh8r8 stsff. wJlvnteers and b8n8ficaaries wothed tC#Jethèr lewning how to prcUCe and deliver heathy, budgèt- conscious batch cod(ing sesgons. In thi8 x-MthwC#y this fvThJing enabd us to d8v8l¢JP Generats'on M881 Share Exchange into an inlergenerathinal projecl W(Yry fr(#n the Alemats Provffjiffi in H8rTngey. This enlire pr(iect is based cffj thè o)nW deveh¥ed alnd SUFvyb'ng Peab(#dy resthnts vthith has ev0ed lo using a kitchen to prwde a lIabrtive batth c£K&ing proied suppjtng Ic¢d Feople in ccthing healthy lood together through with additional meals delivered by volunleets to bcal pecple M the Peat(#Jy estate. The proieGt involves supporting local resldents wlh bng-term mentsl health issu8s by prthryding regular SUPFJt sessions as Mfrll a5 th8 coslwo14iving (SiS by helping promde wann, nourishing meals. .1 like coming h8r81 rnalty kxjk lorward lo IL l fv8 on my own andhawng spenl 80 much Irm8 on my own I realise now that l find socialising qurfe a challerrfJ8, but its someuyru I maty ne8d lo do. ttsiust nKe and laxed, good Gompany 8nd good fwd.'(olderperson aged Tl years) rr Exchinge fund by Clty Brfdge TN•t Inow known 48 Clty Brfdg• Foundatlonl IT ExcharwJe ing8 oklerand ng perfle l(ytherthrough arnI, exchanging skils, and sharing experiences. In 2023- 24 we cdlabor8led trAYJ pather sthcth. London Academy of Exn Tottenham ILAET) in Hanngey and St Anne's in Enfield, lo recruit. train, and suprth Year 12 vobjnteers V•tho provided 1.1 IT support to clder peoF4e from th8 local community With sesgons held al tsjr partner 5¢YJL8 throughout the academic year. AAld1li¢al1y, we extended wr reath by partnering vhth a r¥ schc(4 in a new LThgh - Skinnerfs A(rny HaLnty vknere we began preparing for Ihe delivery of IT Exthange. Vlthith started in May 2024. We are deepty gralelul to Qty Bn'dge TrusL gJSty awarded us a ear gwt £38,6 in Novembef 2022 <£17,200 in 2022-23 £21,4j in 202&24) lo fund a Mtryear interyenerational digital Indus prcgramme. We are immensety thankhjl forlhe continwj sutwrt and cMilMent (rfwr partnerthrxjs, ycAJng vdunteets, and okler b8mets, ail ol wh7 play an integral role in Ihe svcw of wJiects. Thanks lo this fijnding, we def1 a vari6ty of iryactful activthes htsv8en ri[ 2023 and March 2024, engaging 65 okjer Feople and 89 young kW)le thrgh our IT Lxthange and Spanish Exthge woiects, with 50me older tpie paiticipalir in more than ce Proiecl. The projects we delNered during this irKkKled the delr¥ery of 3 IT Exthange wr4ects %Mih LAET, Tottenham and 1 rr Exchange pr(iect 1th Sl Anne's, Enfiehj. These varied in lerrfJth lo suf( okler pe'S nee(Is and the young peopk's availability. and sessiffls were 6 weeks, 8 *Eeks or10 weeks in duraticn. The Sl Nnne's Exthang8 project also irluded quti and di5cvswon sesyon led by Year 10 vokmteer5. We also used Ihis bme lo begin recThib'ng. training and a¢h for a new IT Exchange projed Sknnners Academy in Hackney, vh'ch stsrted in May 2024.
GENERATION EXCHANGE TRUSTEES, REpoirr Iconllnuedl YEAR ENDED 31 IIARCH 2024 .1 am very satisfied wrfh the prwt arKI the supwt I reNed. The student vthlunleer8d his time lo help was patsert 8nd Support and look his to 8xplain and show m8 anything Ihal I was having dffiwlty wth. l think this is a bnlliantprojecl Kithing th the young Pe.. f¢Jderperson, aged 71 years) 'Thankyou for having me as a volunleer, I had so muth fvn, bull so many new and memorable memories, and 18amt a lol ab(AJt my leam8r. I had a fun bnKg th my leamer and lelt fuifwed helpng her in her endeavours. I hop8 this programme Confvns lo help peoph grow as a sU11 and bUd connect$ bèfvKen the youth and the 8ldety.' (YOungr$I, 17y8ars) We also planned and deliver¥J 8 week Spani8h Exth¥e Ffft4ects - for tJinnws and one improver5 for those o toc partin the first Frfojecl Bas1ccveTratiCffjal Spaithwas laughl by Year12NdLmteer510 a group ofoider leamers.. 'Ifound theprort vary pod andrvwarth'ry because leammy a larww orsewidlanguage is b8neficialin that it makes it possthl8 to ctmmle wilh a tmlty and also good formgntal lIbl.. ((YderpeOn, ag8d 73 'A b¥ond8rful expeiienGe that alhw8d me to alise how l enjoy te8chllw and spreading my knowl8dg8, It Was aioyto getto know the old&rpeopl8 8ndhearlhwm8nystffts 8s well &$18stirotheirth and8bilili8S '(Young volunle8r, aged 17ye8rs) rr Exchany Communlty Sodal Actlvltl Throughout this period, we organised several community events, inthding an online safety S90n wa Zocffl in May 2023 delivered by the tharity, AJ)iliWeL a Stskeholders, Ath'9yy Grp meebng at exandra Palacè Gard Centre café In June 2023; and a Tea & Teth aflemoon vnth T(pDesk vohjnteers in September 2023, vth8rB we enjoyed tech support, tea, cake, and a qLi2. Addib'onally, we attended a g chcir cmrt at St Anne's in Felxuary 2024 and a lea and ffmJ6iC fteMC al L4ET in March 2024. 'Th8 volunteers were very pabent, and exphcrt whn dealing Wth anypmbbm. They absolulety superb wrth their 8ssislance. Kudos lo 811 of them. The qui2 j(Ksl great. Grnat kaming cury8 for me with the questions I was Un81 lo answ8rcoTrcty. An unforpttable 8ftemoon'((JderPew, aged 83ye8rs, who attended the Top D8sk Event) G•n•rntlon Exchany Stak•hold•r Advliory hjl of Gerffition Exchange's pnieds aThJ prograrTYnes are led and SUP[thi by our Stskeholder Advisory Grwps vthich e ccmpri5ed of beneficiaries Itoth young and okll ?Mth stsff, vc4unleers and Truslees. The meetings are held ither online in person in fvxal (xfes aLYOSS Haringey and Enfield. The meelj'ngs allow eVery(e to minle, soaalise and dis55 h(A¥ the prciects are going aNI to make aThJ adati$ C an ('ng tsa. Developlng work new partne Our Pethdy C{lnIty Fu1 and Togethw for Londrffl fundd prcrt Generat Mee( Share, Extharge fiich meets in the Pavilion Cale in the gThnds of Bwce Caslle and moved onto the kntsverp kns, a local communityvown&J rxjb in Tottenham. has abled Generatson Exchange lo work a ide range of other local piciects and agenciès induding Haringey Forum for OhJeT PeoF4e, Carers gmps, FIJIC VoKe, Hanngey Reath and Connect and a weamh of other fc¥)d wgeds in the Tottenham area. Generati(ffl Exchange wekome5 WF¥ylunthes to Drk ith (thr Haringey aTrJ Enfiekl pariners and V*TII Trsp)nd to any potential new colkra1 oriint vthith fam in &ne th r Intetgenerab'onal dBritatAe ObltiveS.
GENERATIOII EXCHANGE TRUSTEES, REPORT Icontlnuedl YEAR ENDED 31 MARCII 2024 Rés•NM Pollcy The tharity's reserves wlcy is to have three ths, in the bank al Y cA)e b'me in wdly to cover three months running costs in the event of c4oy.rwa dtr. The Trustees remew the resew annually. Futurn Plans and Developments In Mew of the oNJoing impact on conwnunities of the c05td4iwThJ uis in areas suth as Haingey and Enfield Generatic7 Exthange for8se8s that its addressing the inynediate and SFeufic ne of thikin, young people and older p60pb from BAME and disadvantsged communibes wll ¢b.nUe. tharity Aill rArt'nue lo other local partners and agencies to find practical and innovatrve ways to address s)81 isdation, digital eXth9, gaps in educats81 development and support, and the long4ern effeds cm menlal heamh of the o)mtrA"n&J facth of kdduwn, thè raJ51419 51s, kck of familial contact and living in disathiantag8d toNvnLbnibes. Generalton Exchange plans to continuè deveWNJ ts pres8nc8 in sth)ols wlh older rwAe gJppcrflng childm with reading, maths and earty18amwi in nurnerns, wimary sthcds sec(mdary schools, as w811 as ts dlgital inclusic PTogTamme IT Exchangè. The pllol programmè Spanlsh Exchange, thereby oljer p8opfe and Yng people ar8 brought together lo develcy thelr Spanish speaking sknlb wth wactice Swish conversabcn sessiM5, te develoFeJ and expanded to indude anolher foreign language, suth as Frenth. Thrcdjgh the delivery, deVeent and expansion intryiwathml fo)d ment81 health prciecl, GeneralC Meet Shafe Exthange, we foresee greater cc41atrf)r8n ottw sisterfd prts and fwward to working cc41abor81ive Ih these other pffjjects and agencies. Jr 1ntergener8li¢8l Stthehdder Advtsory Group ill lbnUe to Ing thè generati$ tyth8r to futher cLmsuh, Klentify areas of nèed and irnF*ovements to yoi'eds in ordw to ¢wroduce aThJ evahjate the woth of the tharity
GENERATION EXCHANG£ TRUSTEES. REPORT l¢ontSnu•dl YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES, RESPON518LmES The truslees {tho are also the dirKtors of the ceratiOn Exdwnge f the puryws ofcThnpany lawl are responsible fc preparing the Trustees, ReFQt and the final stateMts in aco)rdance ith ap1& law and United lfjngdom Accounong Stsndards {Uniled lQngd(xn Genwalty Accepted knwnting PrJthr£l. Company law requires the trustees to finanaal Statements eth finlia1 yearvthith glve a true and fgir view of the stale of affairs of the charitable CpanY aThJ of the inttrfning resour and applicats of resources, including the incorne and expendibjre, of Ihe tharitable c£npany fy that perrifyj. In wepanng these finan(ial stalements the Iruslees are required to." Sdect suitabl8 accfjunting pdb'es then appty them ¢Sistenty,. Obserye th methJ$ rm'nuples in the Chanties SORP,. Make judgements and estima18S that arè re&sonat4e and wdent stst8 whether applTrble UK kn11ng standS have b88n fkY, suk¥'e¢t to any material d8partures discthed and expkined in financial 5tstements: epare the finanaal slalements on thè goiig ccffjcem bows urle8s it is iiappvcyiate to presume Ihal the charilab$8 company wll C1U in IsIsS The INsle8s are re¥onslbl& for kwing wopw &)>xmting rwd5 that discthe ith reasLMabh a1r8 at wy lJ'm8 of the finTha1 ptIOn of charitable ccynpany and abLe them to ensure that the finanrAal slalements wmply wlh thè Companie5 Act 2006. They are also resp)nbIe Ic¢ saI3ardIng the assets of Ihe thantable company and hence fortaking reasonablè steps the wevenbon and dele¢YjC of trd and oth8r iryularitses. In so far as we are aware: There is no relev8nl audit InfnatiOn vthith the charitable company's auditor is Unawa., and The trustees have taen all steps th they ought to have taken lo make themsee5 aware of any rolevanl audit infcffrnation to eslat4ish Ihat the auditor Is aware ofthat Inf(at.(m. In preparlng thé Truslees Rem, the Tru*s' habt takn adwdntage d the exeWr avaiL4Jle to small CLynpanle$ and have not wepared a Strateg rewL AFvoved by the Board on 102 and %gned M thelr beham by.. Karen Greenwwj
INDEPENDENT EXAMIP4ER'S REPORTTO THE TRUSTEES ( GENERATION EXCHANGE I repjrt to the trustees on my examination of the acJ)Junts of Generation Excharoe (the Charity) the year ended 31 Mah 2024. R•$pon$Sblllllu and bull of report The tnjstees of the OnJaniSati a resFrf)nsibk fcthe preparatiort of the acctsjnts in aco)Td8nce vAth the requlrements of the Charibes Ad 2011 Ilhe Act). They consider thal an audit is not required for this year under section 144121 of the Charities Act 2011 and that an Indent Examinati is needwj. I reF4Xt in respect of my exaMr10n of Ih dntI$ ao)JJnt under s(145 of thè 2011 Act and in Carrng out my examinati I have fcAkThv&l al the applicable DireCtsc5 gn by Charity Commisgm under sectim 145151(bl oftr Indep•nd•nt •xafflln•rf• itatem• I h8ve cyJmpleled my examination. l u)nfin that no matwial mattws have Lxwre to my attentV in MectiOn Iwth the examinakn g[ng me t2use to te that in any matsryal a¥. actntirj reclS rv)t kept in resfv of the Chwity as required by seC1Kl30 ofthe Act the arx¢ts (tr) nol ac¢>xd ith those recNth', c the accounts do not comFty ¥th ts aWICab requirèments con¢emirKJ the fm and content of the aOunts ssl out in the Charities {Accounts ffld Rwtsl Regulabws 2008 otherthan any requirernenl that the a¢yAunts glve a tnje and lair vW lch is not a matter consthred as part of an Inde[dent eInation. I have no and have cxime 8Kmss no olhr matters in rxmrtttion with the ex8nin8tion to vthith attenOn should b8 drawn in this report in ord8r lo en8bk8 pmper understanding of the accnts to b8 al*d, Elleen Da-Sll¥a FCCA Da4ilva and Associat•• Umitod Chartergd Cgrtifled AccouDtsnts 14 Farni Clo¥• Essex RM10 9TX 5th Dac•mb•r 2024
GENERATrON EXCHANGE STATEMENT OF FINANCIAL ACTMnES YEAR ENDED 31 IAARCH 2024 Restricted Unrestrlcted Funds Funds Total Yoar •nd•d Year ended 31 Marth 31 March 2024 2023 2024 Incomt Incom• from charltrknle xtlvltl•g Grant and donab'ons ¥937 4165 43,102 28.435 Incom• from Inv•slm•nts 27 4937 213 43,150 28,462 Expèndliur• Exyndltur• on char1tkn •thS11 Educ4lic 142A27) 1,16• {41,2581 132,5431 Total •xp•n¢kn 1,110 141,251) {32,5431 Net expndltur• 13,490) 1,892 {4,0811 Fur¥J balance8 as at 31 March 2023 5,428 6,051 11,479 15,560 1,938 13,371 11,479 FUND BALANCES AT 31 MARCH 2024 The aCcompann9 notes fomi an integral part crftr*5e financial Stat Al are cxMb'nUi and there are no recogn15ed gains and hMe5 ¢)therthan as Sho atrtjve.
GENERAnON EXCHAIIGE Company No.. CE008301 BALANCE SHEEr AT 31 MARCH 2024 2024 2024 2023 2023 CURRENT ASSETS Cash al bank and In hand 13,342 13,342 CREDrroRS: amounts falll du• wlthln on• y•ar (1,5751 11,8631 NET CURRENT ASSErs 11371 11,479 NET ASSETS 13,371 11,479 Fund5'. Reslrided Fund Unrestricted Fund 1,938 11,433 5,428 6,051 TOTAL NET ASSETS AT 31 MARCH 2024 13,371 11,479 The finanoal stslemenl have been wepared in ac££rdance the Ststemenl of Reccffimended Practice {SORPI. applicable lo charibes preparing Iheir ac£cdJnts in acoJrdart8 ith ts Fina)81 Rep)rliThJ Standard aptAicable In th8 UK and Reputrjic of kèland IFRS1021 leffecth've l January 20191. Th8 firwial ststsments were apyov&J ty the Truste8s on Karnn Grn•n Twstee Pl•do D'sllva Trustee The acccryanyin9 notes fomi an intW part cltlw fin[la1 stalanents. io
GENERATION EXCHANGE NOTES TO THE F•WICIAL STATEMEIITS FOR THE YEAR ENDED 31 IAARCH 2024 AccouKfiNG POLKIES The tnapa1 ar£ounlins Folicies aty, NNJgThits JKI key of estimalN)n unLYrtaintyin the weparati( of the fincial Slatern are as frAIows: AoUntIng Basls The finanaal statements have teen prepared in aCCdan 1h Arxounting and Repjrting by Charities.. Ststemenl of Recornfflended Prathce 8pplice to thaiities weparing their attwnts in 8co)rdance the Finanaal Reporting Standard arplicable in Ihe UK and Rewblc d Ireland IFRS 1021 {effective 1 January 20191- Ichariles SORP IFRS 102}I, the Finanaal ReForbng Stsndard appkcabk n lh& UK and Rewblc of Ireland IFRS 1021 and the Companies Lt 2006. Generation Exchange meets Ih efinrf of a wbk 1 entity un¢kr FRS 102. Assets and liatdttses arè inilialty rewni5ed at histoncal CJJSI or transacti Wdlue un$ otrrwise stated in (he reV1 accounb'ry nolèl81. These finanoal ststements have been dravm up in the hist1¢01 acDJunting basis. The ac¢ounts 8r8 [ryad In kndS , rrxJndpAI to ts nearest tnund. Preparatlon of accounts on • golng C1cOM basls The tnjstees c4Jn5ider there are no mal8rial uncertainll85 atrAJJl the Charitys abilty k) c(mtinu8 as a going concem. The rewew of finanaal [sl., reserves trI and IlJlure Fdans gives Truste85 lfidence the charity remains a gdng o)ncem frx the foreseeat4e fuknre. In reaching thls coThJu8lon. the Irustees h8ve r&l&hed caShfi forecast cfjvertng a riod ol more than one year from the dale of aFvroval of thi8 acoyjnl. Income v•cognlllon Incomts from grants arKI dcThtic arè fcy reca¥¢. Grants are aoJ)u)tsd for the chanty becomes entiued to the funding and dliC$ a ac(jnj for ¥then recwved. Exwiditur• Expenditure is reo)gnised Mce re isa legal oro)nstNcbve ob1VJati lo make pawnenl to a ttm'rd paty, itis probable that settbmenl ¥MII be required, and the amounl of be measur8fl reRaW. l expenditur8 Is 8¢¢wnbJ kron an accruals bo WKI has been d>hd under headings that aggregate all c051s rdatod to that calegLYy. Irrecoverab VAT is charged •Jainst the expdilUre headry fty vthith it vrds aoyu•J. 11
GENERATK)N EXCHANGE NOTES TO THE FIIANCIAL sfATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 Flxed Al9 Assets are depreiaaW, in eq1 annual instatrnents, oNwtheir ec(YC INes at the f(Aling rates: EctroniC eqUIynt 25% Financial instrum•nts The tharity only has financial assets aThJ financial alrrt1eS of a knnd that qualfy as basic finanoal instnjments. Ba%c finanaal inslrLtynents, induding trade and other debtiys and cmlrtS are inttsalty recognis&l al transacti value and sub5equenty Measu al Iheir sdlement vakne. C•h at b•nbt and in hand Cash al bank and cash in hand indudès a1 short lenn hwJhty u)ve5tments ith a S malurity ol three months C less ITn the dats of acqui5CK1 w Cuvj of the deSrt or bwnilai ac£<rfJnL Tradè and olher debtors are recfjgnis&l at Ihè Sèttl aTrL Pret4ynxnts are valthryd al the amrjjnl prepaid net ofany trade discwnts tkn. Cr•dltorn and wovlslons Creditors and provisions are recc¥Jnised vthere the thaiity has a thlation re<ing from a past event that will probally result in the transler of funds lo a third paty and the amcJnt due to setlle Ihe ct4igation can b8 measured or estimated reliabty. Forelgn currthcy translatlon Th6 chaiib8s fijncts.a1 and ntakn currency is ty)Jnd sterting. Mce13ry assets and lialitieS denominated in fLYdgn rrenCIeS are transla inlo slerliTrJ al the rates of exthange fuling al the balatKe sheel date. Transacti$ #i forgn cjjrrenues are recorded at the rdte njko al the date of the trad. Al are TecAJJni8ed In tr StatsnI of Financ481 ALli1e5. P•nilon i¢h•m• Generation Exchange oreTales a defined LxMlritAJtion pensIC stheme fLY ihe benefit of ts employees. The assets oflhè xheme are held indeenty tTryn Ihose of Generab'on Exchange in an independenuy administered fvnd. The pensions costs charged in the finanaal statements Tewesenl the ¢)xthbulM)ns payable duiing the year. Fund a¢¢ountlng Funds held by the charity w8: Rmtrlctsd fundi Thesè are funds srtljed to ¥ifiC knJ#s gerteralty d@ja1 by the dcmrrf (f fvnds ratsed ts a Sp1 purrMXe. unrestrict fun are general funds r2n t used kn accudance Thilh the dwiitstle (tyts atlhe diKtsti(ffi ofthe trustees. 12
GENERATION EXCHANGE NOTES TO THE FNANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 1. ACCOUNTIMG POLflES {Contlnu•d) Tixatlon The acttwti'es ofthe CIO. a thanty are exemptfrryn in?e tsx aNJ LXYP)ration tax. The CIO is not regk8lered for Value Addèd Tax. ExFffidthre in these finanoal stateMts is th8refor8 sh(Nm IrKIV8 ofvaknè Added Tax suffered. LEGAL STATUS GeneratsC Exthange is a ChaiitstAe 11KThp8ted cgoISatil, knited by guarantee and has no Sha caphal. The membern have no liat41ty to contiitAAe to its assets and no pewfflal re5p¢x6ibilty selling its debts and liaNities in the event of a wn¢ing up. 3. INCOME Yur End 31 March 2024 Yur Ended 31 March 2023 UK Incom• IChwhb* actMll•sl Unrutdct•d lundi 4,165 15,404 R••trfd•d fund• Grants Dall 38,937 13,031 41102 28,435 Bank interest 27 EXPENDITURE Stsff Support Oth•r dlrnct Cts Total 2024 •) ATr11• oltotsl •xp•ndllur• Charftabl• actmtt Unrnstri¢t•d lunds EduGgbc 2,127 13,296) 11.1691 Re•tri¢tsd fvnds EduGation 20,019 19,831 42,427 Tolal explndllurn 2024 20,019 4,704 16,535 41,258 Totsl expend119 2023 20.313 4,916 7.314 32.543 13
GENERATION EXCHANGE NOTES TO ThE FWIANCIAL STATEMENTS IwrtlTru•dl YEAR ENDED 31 MARCH 2Q24 EXPENDrruRE (continwdl bl Analy$ls of supwt costs Admkn PuNldtynT Co Trn¥el GO¥•mCl Totsl Charlllbki actMlle Unrostrlcled funds Educalm ftKtrlctad fvndi EthJGa 310 163 79 1,575 2,127 1,981 2,577 Tothl wpport ca•t• 2024 2291 413 42S 1,575 4,704 T4ts1 wppryl co•1• 2023 3,177 164 1,575 4,916 Ye•r Year Ended Ended 31 Ilarch 31 March 2024 2023 5. NEf INCOME Net income is stsled after ¢arging.' Indrent Ex8thiners f8e 945 STAFF EMPLOYMEiir Sabaries and wwJos 20,091 20,313 Totsl Staff Ccsts 20,091 20,313 No employee receNed emkloye8 beneffts {exrALMliNJ employw 10ft St) exceeding £60,00012023.' Nil). The average monthty number ol emF4oyee5 during the ywwas one {2023.' 1). 14
GENERATION EXCHANGE NOTES TO THE F14ANCIAL STATEIAENTS Iwrf1nu YEAR ENDED 31 MARCH 2024 CREDrroRS: du• within y••r 31 March 31 March 2024 2023 Other cTrdith and actruals 1,57S 1,863 1,575 1,863 TRUSTEES, REMUNERATION No direclor has received any (enratiOn or reirrthrswt of exSe$l>)23.' Nil) ¥1 lne10n V+ith Gqffi8d il p8rfcffince of their dutie5. FUNDS Mov•m•nt In fund• 8•l•nc• It 1 Aprfl 2023 B•l•nc• at 31 March 2024 Income ExPendIre Trnnthrn Unr•itrl¢t•d Fund 6.051 4,213 1,169 11,433 R••trSet•d Fun 5.428 38,937 142,427) 1,938 11,479 43,150 (41,258) 13,371 prevkl year FUNDS 8alance Batsnce at 1 Awll Exp•ndltur• Trnnthr4 31 March 2023 Unrnstrlct•d Fund 6,637 15.431 116.0171 6,051 Restrlct•d Funds 8,923 13,031 116,5261 5.428 15,560 28,462 132,5431 11,479 15
GENERATION EXCHANGE NOTES TO THE FINANCIAL STATEIIENTS (corrtlnuedl YEAR ENDED 31 MARCH 2024 10. RELATED PARTY TRANSACTIONS There no rnLabJ pty transaLL ilh indibiduds trustees duri ts year12023'. Nill. 16