Charlty r•gistratlon numbgr 1172314 YOUNG CAMDEN FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
YOUNG CAMDEN FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trust••s Stephen Greene (Vice Chairl Fiona Millar IChair} Martin Pratt Faaiza A. Lalji Paula Pet Abdikar Ahrned Roman Arbuzov ITre8sur8r) Tom Simpson Anneka Munsch Alhian Akec Charlty number 1172314 Princlpal addres$ Labs Atrium The Stsbles Market Chalk Farm Road London NW18AH Audltor Crit¢hleys Audit LLP 8eaver Hous@ 23-38 Hythe Bridge Slreel Oxford OX1 2EP
YOUNG CAMDEN FOUNDATION CONTENTS Pago Trustees, rgtx)rt Stalemgnl of Tru51ees' rgsponsibilities Independent audilorfs report 8-10 Statement of finan¢ial activities 11 Balance sheet 12 Statement of cash flows 13 Notes lo the financial slalements 14-23
YOUNG CAMDEN FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Tnjstees pr&senl their annual report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the financial statemènts and comply with the Foundation's Constitution, the Charities Act 2011 and 'Acwunling and Repc>rting by Charit16s.' Slat&menl of Recommended Practice applicable lo charities preparing their a¢coLtnts in accordance with the Financial Repong Standard applicable in the UK and Republic of Ireland IFRS 1021. {effective 1 January 20191. L•gal Stru¢tur8 Young Camdèn Foundation I'The Foundalion'l is a Trgistered charity, number 1172314. It was registered with the Charities Commission in March 2017. constituted as a Chantable Incorporated Organisation ICIOI. Additional Trustees are rè¢ruiled and appointed by existing Irust¢gS. Public Benefit The trustees have complied with their duty to have due regard to the Charity Commission'5 Public Benefit Guidance IPB1 the Public Benefit Requirement, PB2 Public Benefit Runnlng a Charity and P83 Public Bènefit Reporting) when exercising powers or duties to which the guidance is relevant. Obje¢tlv•$ and a¢tlvitles Chalr's Report. Fiona Millar We are pleased to present the Young Camden Foundation's Annual Report for 2021122. This report covers our fourth year of operats.on and one in which we have seen growth in our projects, said goodbye to longstanding members of staff and welcomed a new Chief Executive Officer. As with the previous financial year, we can't Ignore the effect of the pandemic on young people in our community and on our organisalion. We started the yeai coming out of a long and. for young people. brutal three-month lockdown in which s¢hools wère closed and many of our mèmbers had to work in very different ways. Life has gradually returned lo near normal bul the impact on young peoplè's mental health and educational attainment will tske longer to heal. This makes our work with members, Camden Council, and the business community more important than ever. We never lose sight of our role in building partnerships belween different stakeholders in Camden and increasing investment in our youth setvices. The resignation in late 2021 of our CEO Keith Morgan w85 a loss to the Young Camden Foundation, bLrt a gain for Voluntary Action Camden, where is he now Chièf Executive. As with any significant change, Keith's departure gavo trustees thg OPPOrtunrty lo refled on our first four years in operation and lo discuss where we want to be in 2025. We had an 6xcellent field of candidates for the new CEO iole and were delighted to appoint Daisy Srblin in Janvary 2022. Daisy came lo the Young Camden Foun¢Jation from Million Minutes, a youlh action and advocacy charity, and has previously worked across campaign5, policy and advocacy at Christian Aid, Child Poverty Action Group and Gingert)read. Daisy grew up and went to s¢hool in Camden and speaks passionately 8bout being the child of a single parent living in social housing in our borough. She also told us that it was Camden inslilulions - her Schools work experience, music groups and summer activities - that enabled her lo get where she is today. Daisy showed enormous drive, energy and ambition for the Young Camden Foundation and we are confident that she will be a dynamic advocate for us and our m8fftbers with the wider group of stskeholders in Camden. W8 would like to thank John Lyon's Charity, the London Borough of Camden, City Bridge Trust and to our numerous business partners for their help and support. Much of our work would not be possible without them. I would also like lo thank our members for the work they do and to our new CEO lor her contribution to this report. even though il covers the period before she started al YCF. Pl8ase do gat in touch wlh me or htrr if you would like to leam mole about how you can support our Work.
YOUNG CAMDEN FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Back round Established in 2017, Young Camden Foundation IYCFI is a registered charity sel up lo address the growing uncertainly of long-lerm investment in the children and young people sector in Camden and the need to build more cross-5ector partnerships. YCF aims lo provide a n&w model of ltscal support for its members, which includes building capacity and better equipping the community with resources and funding. Connecting and working with organisations lo devalop new and entrepreneurial approaches lo supporting young people and championin9 critical issues facing the local community. In the financial ygar ending March 2022, YCF awarded nearly £890,000 in grants lo mèmbers, which include Camden-based charititrs that offer services and support to children and young people. Mission Statement YCF aims lo encourage and assist 115 members, partners, and supporters in connecting and working together to fonn innovative and sustainable opportunities for young people in Camden. Ob'eclives The promotion of the efficiency and eff6etiveness of charities and thtr effective use of charitable resources by org8nisations working with ¢hildren and young people for the benefit of the publi¢ by providing SUPPOrt and advice to charities and through assisting non-charitabltr organisalions to directly further a charitable purpose. To advance in life and rglieve the needs of young people through making grants to organisalions that do any or all of the following.. the provision of recreational and leisure time activities piovided in the inleiesl of social welfare, designed to improve their conditions of life., b. providing support and activities which devel¢)p their skills, capacities and capabilities lo enable them to participate in so¢iety as maluTe and Tesponsible individyals. Aclivilies YCF believes that all children and young people in Camden should have the support and opportunity to thrive. YCF aims to grow a vibr8nt, resilient and connected community that is invested in supporting, and creating me8ningltJl opportunities for, all ¢hildren and young people in Camden and to create a new model of local support at a lime of signifi¢anl funding challenges. The main activities for the orgènisation include, bul not be limited to". Building the capacity of charitsble and voluntary organisalions w01n with children and young people by connectin9 them with each other and other stakeholders. Using a membership formal to provide ch8ritable and voluntary organisalions with the ne¢e5sary advice, support. infomiation, training and services to enable them to pursue their charitable purposes and improve the efficiency and management of their resources. Grant making lo eligible charitable and voluntary organisations that Can demonstrate their ability to further the life of young peopl¢ within the borough. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.
YOUNG CAMDEN FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Youn Pao le's Foundations YCF is part of the Young People's Foundation IYPFI. a model set-up in thè response of John Lyon's Charity lo address the ongoing prèssures on the Children and Young Peoplè sector. YPF brings logelher the public, private and voluntsry sectors to effect positive change for young people. Based in local communities, each YPF is an independently registered charity, and their services are led by their members and based on the needs and assels of their area. Togeth6r they share a common goal - to help ¢rgate and champion a more impacttLtI, co-ordinated, and sustainable se¢tor to ensur8 all young people have access to quality support and opportunities. As of March 2022 Young People's Foundations exist in eight London boroughs and include.. Young Bamgt Found81ion' Young Blenl Foundation., Young Camden Foundation., Young Ealing Foundation.. Young Hammersmith & Fulham Foundation,. Young Harrow Foundation., Young Westminster Foundation.. Young Kensington & Chelsea. The Young Camden Foundation IYCFI believes that 811 children and young people in Camden should have the support and opportunity to thfive. Our aim is lo grow a vibrant, resilient and connected communty that is invested in supporting, and ¢realing rveaninglul opportunities for. all children and youn9 people in Camden and to create a new model of local support al a time of significant funding challenges. YCF'S main activities incllbde. but are not limited to.. Building the c8P8city of charitable and voluntary organisations working with children and young people by connecting them with each other and other stakeholders Using a membership format to provide charitable and voluntary organisations with the necessary 8dvice, support. Inlomialion, training and services to enable thern lo pursue thèir charit8ble purposes and Improve the efficièncy and management of their rèsources Grant making to eligible chantable and voluntary organisation5 that can demonstrate Ihgir ability to further the life of young people within the borough. Event$ beyond our control There is no dtrnying that Covid-19 is slill having an impact sector wide and YCF are still feeling it's effeds. Many of our member organisations turned to delivering front line Covid-19 response work during 2020-21 and 2021-22. While there was plenty of project fLtnding avai5able, core funding became scar¢er as il was deployed elstswhere. YCF and its members are now having to work towards a retum lo 'nornial' which means less home working, more facg-to-face a¢tiviiies and return lo offices and facilities borough wide. As YCF looks toward securing f(5 future il Is also worth noting that further business engagement deponds on building and securing relationships. Th¢ reduction in in person meetings has made this very difficult. The current ewnomic climate makes this progress all the more slow. Inflations has increased and we face a cosl-of- living crisis not seen before in our lifets'mes. Individual donations have dramatically reduced and of our large Donors are not providing extra funding which means we havg to spend more lime seeking extra and alternative sources ot funding. This impact is felt in lum by our members, th8 value of our grant giving is depreciating due to rising costs. Money just doesn't go as far as it did.
YOUNG CAMDEN FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Me$sage from YCF Chief Executlve Officer Having started in post in May 2022, it feels quite unusual lo be writing the inlrodu¢tion lo the annual report for a financial year that I did not oversee, but I sharè the Trustees. thanks lo our previous CEO Keith Morgan, and the YCF team, for a strong year of operation bee&n 2021 and 2022, during what was a very difficult period. As has been notad extensively. the coronavirus pandemic broughl huge challenges not just for young people and communities, but also for the charity and voluntary sector, which saw a significant loss of income. Dèmand for setwices increased while financial outlooks lookèd increasingly precarious. While 2021 saw some positive steps, with lockdown easing and adju$led ways of working, we are still feeling those difficult èffècts in 2022. Having said this, this financial year saw some real positive outcomos for YCF and 115 members. Betwèen April 2021 and March 2022, Young Camden Foundation distributed £878,293 across Camden's children and young people sector. vi8 Small grants to 67 members, further strengthening our grant giving activities. During this period, the YCF t8am 8lso continued lo build important wth local stakeholders including strategic partners and ¢orporale stakeholders. Member engagement was understandably challenging durin9 what was a difficult period of lockdown easing mixed with Irefflendous uncertainty, and digital tools and online support ¢onlinued to be explored. During this period, our membership incrèased lo 86 full and 42 asso¢iale members. Key milestones and achievements in¢luded the continuation of the partnership delivering thè Palhw8y$ Fund as part of Camden's Community Impacl Fund. This partnership comprised of Maiden Lane, QCCA, and NW5 Project reeeiving £40,000 to dèliver a series of youth Crimè prevention aciivities a¢ross the three sites. YCF also ran the Build-up fund for small and fnicro organisations, then in its third and final year, giving members the opportunity to apply for grants of up to £3,000 to invest in staff training, profgssional development or organis8tion su5tsinability.
YOUNG CAMDEN FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Governance We have established a hybrid model offering face lo face and digltal attendance. The Board meets forfftally every quarter, with both the CEO and Chair in att8ndance. All meetings are serviced and recorded by an ext8mal clerk lo the trustees. YCF has a t)oard which is a mixture of members and people wilh specific skills. We fecruil mernber trustees to reflect the geographic locations in the borough. Specific skills are replaced through an ext8mal recruitment process. Sevèral ITU5tees will be standing down at the same lime next year following their two three-year temis. We will be conducting a skills audit b8fore replacing them. Existing trustees and the senior Staff Team have joint responsibility for identifying and encouraging new trustees. Once a possibl& new Trustee has been identified they are inviltrd meet with the Chair or CEO. If all goes well, they are then proposed, seconded and voted in al the following meeting. Once appointed new trnslees have an induction process to make sure they are fully aware of their responsibilities as a Ch8rity Trustee. Trustee engagement has focused on the opportunity for enhanced leaming through the sub-committees 8nd resulted in greater understanding and s¢ruliny. We are also developing a new induction program for our Trustees to enSUfe they build on the skills they bring to YCF and truly understand the YCF mission and operations. Board dèvèlopment is an ongoing process. Training opportunities are shared with Trustees whenever they arise, and Trustees are encouraged to atten(f any staff wide training that occurs. Board Away Day's occur annually which allow the Board to be fully involved in strategy and forward planning for the year ah8ad. As YCF is part of the YPF Nètwork il can access best pracb'ce training in line with the Young People's Foundation Trust guidance and trustees are able lo participate in Cross network opportunities greatly enhancing their Trnslee experience. The Chair and CEO meet ie9ularfy to enable support and resilience. The Board has remained dedicated and supportive of our work and ernbraced the continued challenges of the covid recovery. They are lo be thanked, as volunteers for their timg and commitment. Plans for th¢ future We have already Completed a three ygar strategy lo 2025, detailing our objectives going forward, and our activitses to achieve these. The headlines are.. Increase10Trg-lerm investmant in the Children and Young People sector in Camden Connect mèmbers, partners and supporters in new cross-sector collaboration and partnerships Listen to young people and ensure they are safè, thriving and achieving their lull potential Build members. capacity lo deliver high-quality and sustainable youth provision. The organisalion also ran 8 successful Summar Opportunilies Fund programme in 2021, sponsored by three business partners and The Childhood Tru511 Big Give Campaign, benefitting 16 10¢81 community organisations induding several nèw YCF members, all of which were given grants of up to £3.000 to deliver fun. positive activities during the summer holiday5. As ever, YCF was fortunate enough to rely on the support of the John Lyon's Charity's, which awarded YCF Small Grants funding, with priority given to members that have not Previously received John Lyon's Charity funding before. YCF also benefitted. in its second year. from running John Lyon's Charity's Supplementary School Network Fund. 2021122 was also the first full year of YCF running the Holiday Activities and Food Prografftme, with almost 4,000 children and young people benefilting from the programme.
YOUNG CAMDEN FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Al the beginning of 2021, YCF was commissioned by the London Borough ol Camden to design and support the delivèry of the Holiday Hub5 programmg. In Easter 2021, this programme benefitted 17 local organisalions across 29 sites and 1.373 children and young people, 815 were eligible lor Free School Meals. The feedb3¢k from parents and children was extremely positive with many rèf8rring lo the programmè alleviating the stress and worry of food insecurity and keèping occupied during the school holidays. As part of a wider 'Summer in Camdèn, prograrnme in Summer 2021, 37 local o¥ganisalions, includin9 Sports cenlres, youth centras, and schools offerad access to activities and al least one meal per day over 54 siles in the borough. 3,000 places were offered lo local children wlh over 75% of the programme al full or at near full capacity. YCF was also able lo run the important Heads Up (Mental health and Well-being) grants round, vthich had a Significant level of applications, with 29 applications in lotal, reflective of the in¢reased need for member organisalions to serve children and young people's complex mental health needs during the pandemic and beyond. These grants provided organisalions with up lo £5k lo promote well-being activities wlh a special focus on young womenlgirls and children and young people with SEND needs. In June 2020 YCF opened a new excittng and innovative opportunity for a selected number of members to receivg tsilored and bespoke ¢onsultsncy support from Charities 'd Foundatron ICAFI. This support was aimed at building thè resilience capacity of the participating charities. The fruits of such WO were in evidence throughout the following year. Finally, our 2021 mèmber survey indicated that 90 /0 of membèrs suryeyed agreed Ihat their organis81ion benefitèd from YCF membership, a significant increasè from 2020, while 94°/o agreed that YCF supported partnership building within the youth sector in Camden. These excellent figures indicate that despite the challenges, YCF was able lo sustain and grow Membership engagement during this period. We thank all those who worked with YCF during the challenging period of 2021-22 and we look forward hopefully lo a better deal for children. young people and the wider sector in 2023 and beyond. The Tru51ees who served during the year and up lo the date of signature of the financial ststements weie= Stephen Gene (Vice Chairl Fiona Millar Ichairl Martin Pratt Faaiza A. Lalji Paula Preet Sousan Luqman AbdikarAhmed Roman Arbuzov ITreasur8r} Tom Simpson Anneka Munsch Alhian Akec IRe5igned 31 October 20211 sy CEO Date..
YOUNG CAMDEN FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees are responsible for preparin9 the Trustges, Rgport and thg financial stslem6nts in accordance with applicable law and Unitgd Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the Trustees to prepare financial ststgmenls for each financial yèar whi¢h give a true and fair view ol the slate of affairs of the Foundation and of the incoming resources and application of resourcès of thè Foundation for that year. In preparing these financial statements, the Tnjslees are reqLtired to.. selgct suitable 8c¢ounling policies and then apply them consistently.. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stste whether applicable accounting standards have been followed, subject to any material departures disc¢osed and explained in the financial statements; and prepare the financial slalements on the going concem b8sis unless it is inappropriate lo presume that the ¢harity will Continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any ts'me the financial position of the Foundalion and enable them to ensure that the financial statements comply with the Ch8rilie5 Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed. They ar¢ also responsible for safeguarding the assèts of the Foundation and hence for takin9 reasonable steps for the prevention and detection of fraud and olher irregularitigs. By order of the Board of Trustees Fiona Millar Ichairl Chalr Date.. C. Iz ,Tr0Tr2
YOUNG CAMDEN FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF YOUNG CAMDEN FOUNDATION Opinion We havg audited the financial stalements of Young Camden Foundatton (the 'Foundation'l for the year ended 31 March 2022 which comprise the statement of finan¢i81 aclivilies, the balance sheet, the statement of cash flows and notes to the financial statements, including significant a¢¢ounting policies. The financ+al reporting framework that has been applied in their preparation is 8pplicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Th& Financial Reporting Standard appliGable in the UK and Republic of Ireland (United Kingdom Generally A¢¢epted A¢¢ounting Practicel. In our opinion, Ihtr financial statements.. give a true and fair view of the slate of the Charity's affairs as al 31 March 2022 and of its incoming resources and application of resources. for the year then ended., have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been Prepared In accordance the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accoTdance with Inlemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsAbilities for the audit of the financial slatemenls section of our rgport. We are independent of the Foundation in accordance with the ethical requirements that are relevant to our audit of (he financial statements in the UK. including the FRC'S Ethical Standard. and we have luifilled our other ethical responsibilities in ac¢ordance with these requiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis foi our opinion. Conclusions relating to going concern In auditing the finan¢ial statements, w8 have concluded that the Trustees, use of the going con¢em basis of aeeounting in the preparation of the financial slalemenls is appropriate. Based on the Work we h8v& performgd. we have not identified any malori81 uncgrtaintios relating to events or conditions th81, individually or collectively, may cast significant doubt on thè Foundation's ability lo conlinve as a going concèm for a period of al least twelve month5 from whtrn the financial siatements are authorised for issije. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this r$port. Other infomiati¢n The other infomiation comprise5 the inform8tion included in the annual report other than the financial staternents and our auditorfs report Ihereon. The Trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial stalements does not cover the other tnformation and we do not express any fom of assLJrance conclusion thereon. Our responsibility is to read the other information and, In doing so, consider whether the other information is rnaterially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies OT 8pparenl material misstatements, we are required to determine whether this gives rise to a materi81 misststemgnt in the financial statements themselves. If, based on the work we have performed, we con¢lvd8 that there is a material misstatement of this other infomalion. we are required to report that fact. We have nothing to report in this regard. Matt•rs on which w• arn rnqulrgd to roport by oX¢¢Ption We have nothing lo report 111 Tespe¢t of the following matters in relation to which the Charities IAccoun15 and Reports) Regulations 2008 require us to report to you rf, in our opinion.. the information given in the financial statements is inconsistent in any maleTI81 rospgct with the Trustees. report., or sufficient accounting records have not been kept,. Of the financial 5t8tements are not in agreement with the accounting records," or we have not received all the information 8nd explanations we require for our audit.
YOUNG CAMDEN FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG CAMDEN FOUNDATION R•sponslblliti*s of Trust••$ As explained more fully in the statement of Trustees, responsibilities, the Trustèès arè responsible foi the preparation of the financial statemen15 and for being satisfied that they give a true and fair view, and for such intemal control as Ihe Tru$te8s delgrmine is necossary to enable the preparation oi financial statements that ar8 free from mat9rial misstatement, whèthèr due to fraud or error. In preparing the financial slalemenls, the Twstèes are responsible for assessing the Foundation's ability to conlinLte as a going concem. dis¢losing, as applicable. matter5 related lo going concem and using the going concem basis of 8¢counling unless the Trustees either intend to ¢8ase operations, or have no realistic allernabve but to do so. Auditols responsibilitie5 for the audit of the financial ststom•nts We have been appointed as auditor under sectson 144 of the Charits'es Act 2011 and port in $cranCe with the Act and relevant regulatr'ons made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial slalements as 8 whole are free from material misslalemenl, whether due lo fraud or error. and to issug an audito¢s report that indudes our opinion. Reasonable assijrance is 8 high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always dètect a material misstalement when it exists. Misslatemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could re8son8bly be expected to infiu8nce the economic decisions of users taken on the basis of these finan¢i81 statements. The extent lo which our procedures are capable of detecting irregularities. including fraud, 1$ detailed b81ow. A further description of our responsibilitie5 is available on the Financtal Reporting Council's website at.. https.'Il www.fr¢.org.ukJaudilorsresponsibililies. This description forms part of our audilorfs report. Other matters Your attention is drawn to thè fact that th6 charity has prèparod financial statements in accordance with "Accounting and Reporting by Charities.. Statement of Recommended Pracb'ce applicable lo charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in preference lo the Accountsng and Reporting by Charitigs.. Ststgment of Recommended Practice issued on 1 April 2005 which is iefèrred to in the èxtant regulations but has now been withdrawn. This has been done in order for the financial slalemenls to provide a true and fair view in accordance wth current Generally Accepted Accounting Practice. Us¢ of our report This report is made solely to the charity's injstees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so Ih8t we msght state to tha charity's Irustees those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent pem)itted by law, we do not a¢¢ept or assume responsibility to anyone other than the tharity and the Charity's tnjstees as a body, for our audil worf(, for this report, or for the opinions we have formed. Robert Klrtland (Senlor Statutory Audltor} for and on behalf of Crlt¢hl¢y$ Audit LLP 811212022 Chart•r•d A¢¢ountant$ statutory Auditor Be8ver House 23-38 Hythe 8ridge Street Oxford OX12EP
YOUNG CAMDEN FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG CAMDEN FOUNDATION Crilchleys Audit LLP is eligible for appointment as auditor of the Foundation by virtue of its eligibility for appointment as auditor of a company under $8¢tion 1212 of the Companigs Act 2006. 10-
YOUNG CAMDEN FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Unr•$trl¢ted R•strlct8d fund5 fund5 2022 2022 Total Unre5tr1¢ted R•strl¢tsd funds fund5 2021 2021 Total 2022 2021 Notes Income from: Donations and legacies Charitable activities Inve$tm8nts 167,090 9,473 941,638 1,108.728 9.473 153.991 851 433.525 587,516 851 Total In¢ome 176,572 941,638 1,118,210 154.842 433,525 588,367 endltur¢ Charitable activities 114,412 1,034,583 1,148.995 88.889 355,789 444.678 N*t Incominlou0ln9I r8$oure8s b•for• transfers 62,160 {92,9451 130,7851 65,953 77,736 143,689 Gross transfers beeen funds 112,6611 12,661 Net incomel{expendtturel for the yearl Nèt movemènt in funds 49,499 {80,2841 130.7851 65,953 77,736 143.689 Fund balances al 1 April 2021 122,322 164.303 286,625 56,369 86,567 142,936 Fund balances at 31 March 2022 171.821 84,019 255,840 122,322 164.303 286,625 The siatemenl of financial activities indudes all gains and losses recognised in the year. A¢1 income and expenditure derive from Continuing activities.
YOUNG CAMDEN FOUNDATION BALANCE SHEET ASAT31 MARCH 2022 2022 2021 Not•s Current assets Debtors Cash al bank and in hand 11 99,272 325,022 114.471 198,370 424,294 312,841 Crndltors: amounts falllng due within one year 12 1168,4541 {26.216) Net current 8ss8ts 255.840 286.625 In¢om• funds Restricted funds Unrestricted funds 14 84,019 171.821 164,303 122,322 255,840 286,625 Tha finanrjal 5t8t8m8nts were approved by the Trustees on .................... . Fiona Millar IChair} Tru$t•• 12-
YOUNG CAMDEN FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Not•$ Cash Ilow$ from opgrating a¢tivitl•s Cash generated from operations 17 126,643 96,106 InY¢stlng actlviti•$ Investment income received Net cash 9on•rai8d froml{us¢d in) investing aetlvltlgs Net ¢4sh us•d In financlng a¢tlvltles Net incT•asè In cash and ¢a$h equivalents 126.652 96,106 Cash and cash equivalents at beginning of year 198.370 102.264 Cash and cash oquivalonts at ond of year 325.022 198,370 13-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting poli¢l•s Charrty inforniatian Y¢xJng Camden Foundation (The Foundation") is a registered charity, number 1172314. It Was registered with the Charities CoTnmission in March 2017, constituted as a Charitabl8 IncorpDrated Organisalion ICIOI. Registered address.. LABS Atrium, Stables Market, Chalk Farm Road, London. NWI 8AH. 1.1 Accounting conv•ntlon The financial statements have been prtrpared in accordance with the Foundation's Igoveming documenti, thg Charities Act 2011, FRS 102 "The Financial Reportin9 Standard applicable in tt)e UK and Republic of Ireland. I-FRS 102.1 and thè Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK antl Republic of Ireland IFRS 1021. (effective l January 20191. The Foun(lation is a Public Benefit Entity as ¢Jefined by FRS 102. The financial statements have departed from the Ch8rities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair vigw. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recomrnended Pracb'ce which is refefred to in the Regulations but which has since bean withdrawn. The financial statements arg prepared in sterling, which is the function81 currency of the Foundation. Monetsry amoLsnls in these financsal statements are rounded to the noaresl £. The financial statements have been prepared under the historical cost convention. The principal accounting poli¢igs adopted are set out be50w. 1.2 Going concern At the lime of approving the financi81 statements, the Trustees have a reasonable expe¢tstion that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustèes continue lo adopt the going concern basis of accounting in preparing the financi81 statements. 1.3 Charitabl¢ funds unStrICted funds are available for use al the discretion of the Trustees in furtherance of their ¢haritable objectives. Restricted funds are subject lo specrfic conditions by donors as lo how they may be used. The purposes and uses of the restricted funds arè set oul in the notes to the financial statements. 1.4 In¢ome Donations are recognised In the financi81 statements when received. Grants are recognbsod in the financial statements when due. Sales are recognised when the related service5 have been provided. 1.5 Expenditur• Expenditure is recognised once thare is a legal or constructive obligation to transfer eGonomic benefit to third party, il is probable Ih8t a transfer of economic benefits will be reqljired 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 lolal of direct costs and shared costs. including sUPPOrt costs involvgd in undertaking each a¢livity. Oifect costs attributabl8 lo a single activity are 811ocated directly to that activity. 14-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollcles (Contlnued} 1.6 Cash and cash equivalent$ Cash and ¢ash equivalents include cash in han¢J, deposits h8ld at call with banks and bank overdrafis. Bank OV8rdrafts are shown within borrowing8 in current liabrlities. 1.7 Flnanelal Instruments The Foundation ha5 eltrcted to apply the provision5 of Section 11 'Ba$ic Finanaal Instrument5. and Section 12 'Other Financial Instruments Issues, of FRS 102 10 811 of ils financial instruments. Financial instruments are recognised in the Foundation's balance sheet when the Foundation becomes party to the contractual provisions of the inslrumenl. Fin8n¢ial assets and liabilitses are offset, with the net amounts presented in the financial slalements. when there is a legally enforceable right to sel off the Tecognised amounts and there is an intention to settle on a net basis or to realise the asset and settte th8 liability simultaneously. Baslc financial assets Basic financial 85s8ts, which include debtors cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. Baslc financial liabilities 8asic financjal liabilib'ès. including creditors and bank loans ar¢ initially recognised at transaction pricg unless the arranggment constitutes a financing Iransaclion. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or seryices that hav8 bèen acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilits'es if paymenl is due within one year or less. 11 not, they are presented as non-current liabilities. Trade creditors afè recognised initially al transaction price. Dwocognltion of finan¢lal Ilabllltlg$ Financial liabilities are derecognised when the Foundation's contractual obligations explre or are discharged or cancelled. 1.8 Taxation The Foundation is a registered charity and is not subject lo corporation lax on ils current activities. Crrtl¢al accounting estimates and judgem¢nt$ In the application of the Foundation's accounting policies, the Trustees are r8qvired to make judgements, estimates and assufflptions about the carying amount of a55ets and liabilitiès that are not feadily apparent from other sour¢es. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Adval results may differ from these estimates. The eslimales and underfying assumptions are reviewed on an ongoing basis. Revisions to accounts'ng eslirnates are re¢ognised in the period in which the e51imatè is revised where the revision affects only that period, or in the period of the revision and futurg periods where the revision affects both currènt and future periods. 15-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Critical a¢¢ounting •stlmat•$ and judgoments (Continued) Kèy 50urcos of estlmatlon nrtaInty Prepaym•nts Prepayments have been estimated based upon purchase invoices paid during the financial year that partly or entirely relate to the following financial year. Prepayments totalled £67,327 during the financial year. Donatlons and legacles Unrestricted R•strl¢tsd fvnd$ funds Total Unreslricled funds Restricted funds Total 2022 2022 2022 2021 2021 2021 Donaiions and gifts 167.090 941,638 1,108,728 153,991 433,525 587,516 Charltable actlvltles 2022 2021 Charitsble activities 9,473 851 Inv•$tments Unrnstrl¢t•d funds Total 2022 2021 Inleresl re¢Èivable 16-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charitablg actlvltl8s 2022 2021 Grants and direct project costs Rent and office expenses Genoral expenditure 960.755 40,169 23,944 276.161 17,510 18,989 1,024,868 312,660 Share of support cosis (see note 81 sha of govemance costs {see note 81 120,327 3.800 130,218 1.800 1,148,995 444,678 Analysis by fund Unrestricted funds Reslricled fun¢Js 114,412 1,034,583 88,889 355,789 1.148.995 444.678 Grants payabl• 2022 2021 Grants to institutions: Action Youth Boxing African Physical Training Abanian Community UK BeLifted Now Bloomsbury Football Foundation British Somali Cornmunity Centre Brandon Centre Brookfield Primary Scho Calthorpe Community Garden Camden Arabi¢ Association Camden Sports Development Cartesian Academy Centre 404 Coram's Fields CSKX Dragon Hall Eat Club Eleanor Palmer Primary School Elfrida Rathbone Fitzrovia Youth in Aciion Fuzion Academy Global Generation Growing Hope King's Cross H8mpslead Community Centre 17,778 11,610 2,940 2,500 92,619 2,940 2,500 1,605 4,250 16,527 5,000 1.250 14,575 8,010 2.750 18,040 2.240 3,185 4,978 12,524 5.002 4,614 2.235 2,548 3,622 143,323 8,160 1,975 2,180 2,650 3.396 9,499 1,140 4,351 14,785 1,250 17-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Grants payabl• (Continued) Heath Hands Holbom CommunityAssociation I Can Dance Impact Dance KCBNA Kentish Town C of E Primary Kèntish Town City Farm Kentish Town Community Centra Khvlisa Lauderdale House LB Camden Earty Help Learning and Development Centr8 L&ga¢y Sports Let Me know Ltghthouse Maiden lane CC Metro Box Netley Primary School New Diorama Theatre NW5 Communily Play Project Our Lady and Sl Michael PACE Padiament Hill Schod Trust Pro Touch Queens Crescgnt CommunilyAssocialion Regents ParkTime Bank Samuel Lithgow Youth Centre Scene & Heard Sidings Community Cenlrg Sir Hubert Von Herkomer Small Green Shoots Somali Youth Development Resource Centre Somers Town Community Centre South Hampslead Kilbum Community Partnership Sports Development Team St Mary's Centre Community Trust Sl MaS C Of E Primary and St Eugene de Mazenod Primary St Pancras and Somers Town Living Centre Thanel Youth and Community The Caraf Centre Thè Sapphire Foundation Unity Works UNLOC Urban Outdoors WacArts Winchester Project Yes Outdoors Other organtsalions Ireceiving less than £1,000 grants) 2.500 7.228 5,000 2,740 2,646 10.423 6.102 6,400 18,952 2,268 13,490 5,000 1.200 27,341 11,420 26,280 11.881 4,250 4,OSO 3,000 3,000 49,156 2,900 7,414 3,000 12,895 3.000 129.130 2,801 27,413 17,130 4,400 3,373 1.282 11.093 23,036 12,205 8.304 4,500 4,291 2.600 5,646 16,890 1,632 5,728 16,170 5,800 1,277 1.440 3.000 9,400 3.000 2.940 25,900 2,500 10.600 14,600 4,845 3,142 3.600 16,585 7,989 5.000 1.193 15,210 11,309 2,200 7,829 18-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Gr*nt$ payable IContlnu•d} Total grant$ awarded 878,816 264,253 Support costs Support Govemanc• ¢o$t$ ¢o$t$ 2022 Support Govornanc costs costs 2021 Salaries and wages So¢ial security ¢osls Contractor costs Defined contribution scheme Recruitment Staff developmènt and training Other 108,077 4,867 1,209 108,077 4.867 1.209 110.798 10,239 1,093 110,798 10,239 1,093 4.189 670 4.189 670 3,047 4,532 3,047 4,532 636 679 636 679 362 147 362 147 Audit fees 3,800 3.800 1,800 1,800 120.327 3.8(10 124.127 130,218 1.800 132,018 Analysed batween Charitable activities 120,327 3,800 124,127 130,218 1.800 132,018 TN$tg•S None of the Trustees lor any persons conn8Ct8d with them) received any remuneration or benefits from the Foundatson during the year. 10 Employees The average monthly number of employees during the year was.. 2022 Number 2021 Number The were no employees whose annual Temuneralion was morg than £60,000. 19-
YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11 D•btors 2022 2021 Amounts falllng duo wlthln one year: Trade debtors Other debtors Prepayments and accrued income 30.000 1,944 67.328 55,000 59,471 99,272 114,471 12 Crèditors- amounts falllng du• wlthln on• y•ar 2022 2021 Notes Other laxalion and social security Deferred income Trade ¢dItorS Other creditors Accruals 2,553 13 120,000 13,399 533 34,522 413 442 22,808 168,454 26,216 13 Deferred income 2022 2021 Other deferred income 120,000 Deferyed income Is includgd in the financial statements as follows-. 2022 2021 Dèferred income is included within-. Current liabilities 120.000 Movements in the year.. Delerred income a11 April 2021 Resour¢es deferred in the year 120,000 Deferrgd income 8t 31 March 2022 120,000 -20-
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YOUNG CAMDEN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 15 Analysis of net assets between funds Unre$trlct•d Restricted funds funds 2022 2022 Total Unreslricltrd ftjnds 2021 Restricted fvnds 2021 Tot81 2022 2021 Fund balances al 31 March 2022 are represented by.. Current assetsllliabililies) 171,821 84,019 255,840 122,322 164,303 286.625 171,821 84,019 255.840 122,322 164,303 286.625 16 Relat8d party transactions Martin Pratt is the Deputy Chief Executive of C8mdèn Council. During the year Camden Council provided funding lo Young Camden Foundation of £799,51912021 - £114,850) Foy62ur Miah is Chief Executive of QCCA which received grants and funding from Young Camden Foundation totalling £17,854.8312021 £01 Abdikadir Ahmed is an employee of SYDRC (Somali Youth Development Resource Centrel which received grants and funding from Young Camden Foundation tolalling £16,90012021- £01 Paula Peel is an employee of PACE (Play Adventures and Community Enrichment) which received grants and funding from Young Camden Foundation lotslling £124,005.5012021 - £12,205) Maggie Mendy is an employee of WAC Arts which receivetl grants and fvnding from Young Carnden Foundabon totalling £11,30912021- £16,585) 17 Cash generated from operation5 2022 2021 ID&ficitysurpus for the year 130,7851 143,689 Adjustments for.. Investment income recognised in statement of financial activities 191 Movements in working capital.. Decrea5el{increasel in debtors Inuease in creditors Increase in deferred income 15.199 22,238 120,000 164,4711 16.888 Cash gèneratèd from op•ratlon$ 126,643 96,106 18 Analy$i$ of ¢hang•$ In n•t funds The Foundation had no debt during th8 year. -23-