DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Company no '. Charity no 10405820 1173107 Croydon Youth Zone Trustees, Report an(1 Flnanclal Statements For the year ended 31 March 2024 Legacy An Onsideyouth Zone
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 CONTENTS Page TRUSTEES. REPORT CHAIR'S REPORT STRATEGIC REPORT 1.1 Aitn5 & activities 1.2 Achievements and performance 1.3 Financial review 1.4 Plans for the future 1.5 Public benefit & volunteers, contribution GOVERNANCE 2.1 Reference and administrative details 2.2 Structure, gov&rnance and rn3nagement 2.3 Statement of Trustees, responsibilities 2.4 Compliance with accountinB standards 2.5 Statement a5 to disc105ures to our auditor5 io io FINANCIAL STATEMENTS Independent auditor's report Statement of financial activitie5 li 14 Balance sheet 15 Statement of cash flows 16 Notes to the Financial Statements 17
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page I Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 CHAIR'S REPORT Legacy's support for young people has never been more needed. OnSide'5 annual study into young people'5 lives outside of school shows that 80% of young people spend most of their free time at home. 26% of young people surveyed say they have stopped doing the things they love, like sports, dancing, music lessons and hanging out with friends as a direcr result of the cost of living crisis. 69% 01 young people said they had real concerns that their families won't be able to buy food or pay the bills as well as the stark reality that 50% 01 young people report high or very high anxiety due to cost of living worries. Clearly, young people need to have access to high quality universal youth services. Over the last 12 months the Youth Zone was vi51ted 36,417 times by young people to take part in a wide range ol different activities and to engage with our Youth Workers. Young people visit the Youth Zone frorn across all wards of the borough land beyond) and we are committed to ensurinB that all young people are included at Legacy. The support for young people ha5 been extended beyond our centre based universal offer to outdoor residential programme5, growing our young leaders projett and offering a holiday club for young people aged 8-12. Our activities help young people grow in confidence and have fun within a safe environment. They are delivered by an incredible team of Youth Workers lsome of whom are volunteer51 who 5UPPOrt young people to develop into healthy and happy mernber5 01 the community. There have been $0 many wonderful highlights to the year* young people have had many arnazinE experiences thanks to the Youth Zone team. I'm incredibly grateful to Legacy Youth Zone's dedicated group of Trustees who have provided a high level of support and challenge over the last year. I w8nt to take this opportunity to express my gr8titude to three Trust&es who h3ve r&tired from their role5 over the last few month5. Both Rupa Patel and Mark Byrne re518ned from their role5 in April 2023 following 5 years of service and valued contributions to the Charity. I'm also thankful to Bushra Ahmed who resigned from h&r rol& as a Trustee in April 2023 following one year of support for the Charity. It is irnportant that our board continues to evolve, provide new insight and perspective and Seeks to be reflective ol the community that we Serve. I've been delighted to welcome Simon Culpeper, John Trayfoot, Jay Amin, Ksenia Karpenko and Indy Chatwal to the board in recent months and we're looking forward to their positive contributions continuing to help to guide our work in the coming years. Our board has been actively working on strengthening our governance alongside other Youth Zone5 in the network. This has created opportunities for us to reflect on how we support the Charity and ensure its future success. It's great to be an independent Charity to ensure we can respond to the need5 of local young people and the wider community but we are also proud to be part of the Onside network of Youth Zones nationallyi soon be 22 in total. Nation311y we will be engaging with 100.000 young people as a network. Over the past year Leg3ry Youth zone has continued to benefit in a multitude of way5 from it5 membership of the Onside network, m05t notably our income from network wide supporters has grown significantly. Onside has been able to use its growing reach as a national Charity to secure p3rtnerships with companies that Want to invest in the d&velopment of young people across the country. Youth Zones are well placed to deliver this work and we're looking forward to more ol these types of opportunitie5 benefiting Croydon's young people through Legacy. Legacy Youth Zone has very special lunders, many of whom have supported us since inception. We are extremely grateful to our original Founder Patrons for everything they have done and continue to do for Legacy. Their commitment to young people and our Charity ha5 been unwavering which is truly inspiring lor all ol u5 connected with the Youth Zone. We have also benefitted from significant support from the Onside Foundation and we continue to work hard to introduce new donors to the organisation, a challenge that we pride ourselves on achieving, for the benefit of young people. Thank you to every single funder who contributed to our work over the last year, your commitrnent and dedication to young people has been a source of hope and optimism for us all. After 5 years of service to the Charity, Barnabas Shelbourne stepped down as CEO in September 2023. We are all very grateful to Barnabas for his hard work 3nd commitment to Leg3ry and wish him the very best for the future. Gavin Evans took on the challenge of becoming the first CEO in the network to permanently lead two operational Youth Zones when he took over at Legacy, whilst continuing to lead Future Youth Zone in 8arking and Dagenham. This has enabled us to share b&5t practice, encourage communication b&tween p&er5 3nd in some are3s combine resources. Myke Catt&rall becam& Chief Operating Officer under Gavin, adding strength to the operational team.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 2 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 CHAIR'S REPORT Icontinuedl We have worked hard this year on creating a new strategy called 'Our Lasting Legacy, that will guide our work through to 2027. We are all ke&n to see th& Charity continue to push ahe8d to achieve its ambitious go3ls and objectives that have been set with input from a range of our stakeholder5, especially young people. Legacy Still ha5 a huge amount ol untapped potential and with the 5UPPOrt of our trustees. tearn rMember5, funders, partners and wider community l am confident we will be able to fulfil it. s*nidby.' 7DD K Morley Chairman,. Company Dire¢tor and Trustee Legary Youth Zone in Croydon Date.. 1911212024
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 3 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 STRATEGIC REPORT 1.1 Aims & activities Croydon Youth Zone, named as LeEaCV by young people, was opened in September 2019. The Youth Zone is an independent Charity, but we ar& proud to b& part of the growing Onside Network whereby we have adopted 3 set of principle5 that guide our work with young people. Our universal offer 15 focu55ed around a state-of-the-art, multimillion pound facility that is purpose built and remains dedicated to young people. We work with young people aged from 8-19 lup to 25 with additional needs) and offer an array of activities for young people to get involved in. Our services are affordable for young people who can access the provision for just a £5 annual membership and 50p entry fee. Whilst our building and activities provide a hook lor young people to initially engage with us, the relationships they develop with our ambitious and energetic team of Youth Workers ensures they return night after night. We pride ourselves on being open when young people need us the most. during evenings and weekend5, whenever schools are c105ed. Since opening the Youth Zone ha5 had over 14,000 young people sign up as members of which around 60% are male and 40% are female. During this year we developed a new strategy called 'Our Lasting Legacw which will guide our work for the period 2024- 2027. We designed the str8tegy in consultation and communication with our stakeholders including trust&es, staff. 5UPPOrter5, partner5, parent5 and carer5 and m05t importantly young people. 'Our Lasting Legac¢ place5 young people at it5 heart. We believe that all young people should have acce55 to the best opportunities and should be able to use their voices to deline their futures. 8y providing safe and inspirational places for young peopl& to go at scale and ensuring they have access to positive and trusted role models we 3re confident we can ake a Significant change in our community. Vlslon: Every young person to be become the best verslon of themselves Mission: We give young people of Croydon the opportunity to discover their full potential through positive activities and inspirational Youth Worker5 Wlthin a safe environment. To achieve this vision the Charity will be working towards 3 strategic aims over the coming three years with 2024-25 being the first year working within our new strategy. l. To b& a safe, welcoming, and high-qu81ity youth provision that is led by young people and responsive to th& ch3nging need5 01 young people and the comrnunity. To be a value led and inclusive organi5ation that dedicated people aspire to be a part of and cornrnit to continual growth. To be a sustainable organisation which uses its resources responsibly and effectively and has a long-term positive impact on the local community and environment. Within the 3 strategic aims there are 9 goals that Trustees will periodically monitor the organisation's progress against and provide support to the Senior M8nagement in identifying and driving forwards area5 of development. Through our work, we embrace 5 org>ni5ational values.. Young people first: Young People First.. young people are at the heart of everything we do inspiring and challenging us to deliver services that exceed their needs and challenge them to be the best they can be. Excellence.. We encourage ourselves and each other to be best we can be through continuous development and a focus on finding solutions. Respect: We act with honesty, integrity, and celebrate diversity acrts5S the organi5ation and caring about each other, our young people, and the Youth Zone environment. 4. Ambition.. We are passionate and driven in taking on new challenge5 and embracing new idea5. S. Collaboration.. We will create and nurture strong. cre8tive re13tionships and partnerships, working together to achieve better result5 and outcome5 for young people.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 4 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 1.2 Achlevements and perfomiance Our tearn of cotllrnitted and diverse colleague5 have Shown incredible pa55ion and dedication to delivering excellent youth work which has resulted in the following of successes., In tot31 we were visited bv voung people a total of 36,417 times during the18St financial year showing that our offer continues to be relevant, popular and engaging. Young people visited the Youth Zone from all Z8 wards in Croydon and beyond. We hosted 2 community days at the Youth Zone and over 1.500 residents from Croydon attended. During 2023-24 we trained almost I(1 volunteer5 and young leaders frorn the local comrnunity who supported the Charity. The Youth Zone ensures that it is an affordable space for all young people and Sl% of our regular attendees are entitled to Free School Meals. We welcomed 721 new members to the Youth Zone in 2023-24. Since opening in 2019, 14.542 young people have becom& Members of the Youth Zone of which 3.587 young people have been active in the last 12 month5. Our Youth Workers supported young people for a total of 31,616 hours and ensured that we maintained a safe and in5piration31 environment for m&mb&rs. The Youth Zone is an inclusive place for all young people and 519 of our active members have an additional need. Legacvs impact on the whole community comes from the individual stories of how the Youth Zone has transformed a young person's lif&. Chris is one of those young people and his story is below.. "BeAore comlng to £egu¢y, I wos veryshy und even tolklng to people or dolnLY work wlth them uts¢hool und In cthss wus 50methting lfvundhord. l ohvoys lfrtt scured oltoiking und even though my sociol unxiety is something I stillfeel. it is o lot le55 now. In one month'5, time, I will have been coming to Legucyfor l yeur. Since storting back in lost December, I feel Completely dlfferent wlthlrt myselJ. l olwoys used to Alnd u woy not to tulk to people ond struggled to mulntuln a conversation with people. e5peciully if I didn't know them. My porents are pmud olme Aor coming to Legocy ond they feel us If I canAinullysociulise more undstop avoiding tulking to otherpeople. Flndltrjg o sport (MMAJ thot I'm so posslotrjote uboutot Legtycy ulso hodon Impurt wlth my colleoe work. When the tlme come fvr me to choose my Subjects ot college. I chose sports bect7U5e I knew thot I could use some of whut I've leornt here in MMA towards my course work. Being oround lot5 OA different types of people us legocy has also helped me to understand thepeople otmy ¢olleJe more ondbe more mature. Before ¢omin9 here, lftlt like I wos bein9 0 bit of o burrier towards myself, the work ond tmining that I do when I come here hos helped me to over¢ome thls push myselJfttrword. A lomousflghter thut l Lvotched on¢e sold thut "when you fight, if you're fighting huppy, then you are Aighting goo ond I try ond tuke that Into my life, if I'm huppy, then I'm doiny good. When I m otLe9Oty thut's exactly how lftel." 1.3 Financial review Finuncialsummory A summary of the results is shown below.. 2024 2023 Incoming resources Outgoing resources 1,394,787 1,120,544 11,639,890) 11,978,579) Net incoming resources 1245,1031 1858,0351 In 2024 our outgoing resources decreased by £346,147 cornpared to 2023 rnainly due to a significant reduction in our staff costs for the year. This reduction was made to ensure that the Charity was able to serve the young people of Croydon for future periods whilst continuing to maximise the use of our building. The Charity benefitted from a significant reduction in energy c05t5 compared to the year before due to a more favourable fixed term contract. However. as the building itself is now over 5 years old we have experienced increased premises costs which we expect to be ongoing in the coming years.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 5 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 1.3 Flnanclal revlew Icontlnuedl Our incoming resources increased compared with 2023 which was mainly due to our increased performance in achieving incorne from grants, trusts and foundations. A key component of the increase in this area is the ability of the Onside Network to attratt support as well as increased success of our fundraising team in this particular income stream. Our performance in this area has helped the organi5ation with the ongoing transition in reliance to 3 broader group of funders. Our 2024 results continue to provide evidence that the Charity is able to achieve significant levels of incorne during challenging economic periods but we remain mindful of the decrease of income from our initial supporters. In 2024-25 we expect our end of year position to be consistent with 2023-24. Funding for the ongoing operating cost5 of the Youth Zone 15 spread acr055 a number of sources including the original Founder Patrons. Other potential supporters are regularly sought and engaged with. We also continue to develop our fundraising efforts to secure grants from Trusts and Foundations, community and corporate fundraising. Other income is derived from young people'5 membership fees. 5e55ion fee5150p'51 and calé sales where pricing 15 aligned with the Onside Youth Zone Network Agreement to ensure affordability for younz people. In recent years we have also grown the income d&rived from working in partnership with likeminded organisations to ensure that children and young people can benefit from our facilitie5 during the daytime. Investmentpowers undpolky Under the Memorandum and Articles of Association, the charitable company has the power to make any investment which the Trustees see fit. Investments are made where required to further the aims and objects of the Charity. Currently, the Charity does not hold any inve5trnents other than cash on deposit with Handelsbanken plc. Reserve5 polity The Board of Trustees ol Legacy Youth Zone has established a reserves policy which appropriately reflects the risks to which the Charity is exposed. In reviewing the potential c05t5 that could arise should a Significant reduction in income be incurred, the Trustees have determined that it is appropriate for unrestricted, 'free', reserves to be maintained between 3- 6 months. At 31st March 2024 the Charity has accumulated unrestricted, 'free'. reseNes of £888,720,. this provides cover of 6 months of operating costs. The Trustees 3Ctively manage Legacy Youth Zone's finances so that an 3dequate level of reserves is maintained in cornpliance with the re5erve5 policy. The re5erve5 policy doe5 not Consider expenditure which 15 linked tts restricted projects and therefore covered by restricted funds. Golng cotrJ¢ern Given the current position of the Charity with regard5 to unrestricted, 'free', re5erve5 and our ongoing commitment to continuing to develop fundraising activity in new areas the Trustees are satisfied that the Charity fulfils the criteria for the going concern principle. This conclusion is also derived following the regular, detailed review of th& forecasted impact of the rising cost of living which continue5 to be reviewed by the Trustee5 on an ongoing ba515. We have rnodelled forecast cash flow for thi5 period taking account of current cash balances and expected income and expenses. The Trustees are able to report that the Charity maintains a positive unrestricted, 'free', reserve and this alongside generou5 pledge5 by existing and new supporters ensures that the Charity holds an optimistic yet cautiOU5 financial outlook. The Trustees are alert to the continued impact of inflationary pressures, limited employee pool and other external environment factors which may affect the long-term sustainability of the Charity,. therefore are supporting the Management Team to drive ambitious plans relating to the identification and development of new funding streams in the next year to rnitigate any negative impact. PrincipolAunding sources &fundrotsing stutement The Trustees would like to place on record their appr&ciation to all funders of revenue costs associ8ted with Legacy Youth Zone in 2023-24. These include but are not limited to., Day Lewi5 Pharmacie5, Reedham Children'5 Trust, Henry Riley, Dentsu Aegis, Four Acre Trust, James Findlayj Brenley Trust, M R scaffolding Services Ltd, The Onside Foundation, Southern Housing Association, Immersion Capital, John Bothamley, Amazon. Seroussi Foundation lin p3rtnership with the UBS Optimus Foundation). Cr055tree Real Estate, Arnro Partner5, Lendlea5e, Natwest, Openwork Foundation, BP lrnpact Fund, Croharn Hurst Golf Club, Nails by Netta and David Barry. At this present time the Trustees can confirrn that the Charity h3s received zero complaints with regard5 to its fundraising work. Through all of our work we ensure full compliance with the Fundraising Regulator.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 6 Trustees, Report and Financial Statements For the year ended 31 March 2024 1.4 Plans for the future Trustee5 Continue to be amt>itious lor young people and the wider community albeit we are con5CIOUs of the impact of the current economic climate and the influence that this could have on our funding sources. As has been mentioned in the Aims and Activiti&s section, to navigate through this period the Trustees h8v& made 3 commitment to 8 new 3 year strat&gv that we are cornrnitted to delivering for the children and young people of Croydon. The strategy will allow u5 to focus our work behind three strategic airns.. l. To be a Safe, welcorning, and high-qualityyouth provision that 15 led by young people and re5pon5ive to the changing needs of young people and the community. To be a value led and inclusive organisation that dedicated people aspire to be a part of and cornrnit to continual growth. To be a sustainable organisation which uses its resources responsibly and effectively and has a long-term positive impact on the local community and environment. We are confident that remaining focussed on delivering the Strategy will ensure that the Charity Continues to have a positive impact on children and young people's lives in Croydon. Restrictedfunds onddeliverycontrocts The Tru5tee5 acknowledge that the Charity currently has obligations to deliver a nurnber of project5 in partnership with The Jack Petchey Foundation, Croydon Council, Croydon Churches Housing Association, Big Local Broad Green-Library, The IGY Foundation, Burberry. UFC, The Onside Foundation, Sport England. Sony Music. Reedham Children's Trust, Onside Youth Zone5, The Young Londoner5 Fund and Prudence Trust. These projects enhance our core work and we are grateful to those who have funded restricted projects in 2023-24. 1.5 Public benefrt & volunteer5, contribution All the acrivities of the Charity were underraken to further its charitable purposes for public benefit. The provision of a high-quality facility for young people in Croydon responds to 3 clear, ongoing demand frorn young people, parents and carers and the wider community. Although providing a service to all young people, Croydon Youth Zone will continue to focus on attendance and participarion by young people across the entire community who will be able to enjoy affordable access to all the facilities that th& Youth Zone can provide. This will lead to improved 8chievementS 3nd enhanced aspiratlons amongst young people of the local community. They will be happier. healthier and make more constructive use of their leisure time which will be of added benefit and value to the borough. Longer term public benefits will include improved health. reduced crime, enhanced learning and ernployability and greater community cohesion. The Trustees of Legary Youth Zone believe they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published bythe Charity Commission. Throughout the period all members of the 8oard of Trustees made invaluable voluntary contributions to the Charitws work in terms of governance, professional and business experience, financial planning, fundr8ising and leading init18tives across the Youth Zone. Such contributions were, on average, equivalent to one full day each calendar rnonth. Legacy Youth Zone also has benefitted from voluntary contributions from members of the local community to support work with young people, d&livery of activities and support with administration and operational activities. Contributions vary in time and frequency, but all are invaluable to the 5ucce55 01 the Youth Zone.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 7 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 GOVERNANCE 2.1 Reference and administrative details Croydon Youth Zone was incorporated on l October 2016 Icompany registration number '. 104058201 as a company limited by guarantee and registered as a charity on 18 May 2017 (Charity registration number.. 11731071. Trading name Legacv Registered ofFice 125 Whitehorse Road Croydon CR02LG Directors & Tru5tee5 The Directors and Trustee5 of the Charity who Served during the year and were.. K Morley (Chairl O Adekoya BAhrned JAmin M Byrne I Chatwal C Chize 5 Culpeper 5 Davies K Karpenko M Lewis R P3t&l J Trayfoot Reappointed 12 December 2023 Resigned 17 April 2023 Appointed 15 April 2024 Resigned 16 ottober 2023 Appointed 17 April 2023 Appointed 14 August 2023 Reappointed 12 December 2023 Appointed 12 February 2024 Resigned 17 April 2023 Appointed 6 June 2023 Chief Executive B Shelbourne G Evans Resigned I September 2023 Appointed 4 September 2023 Audltor Michael Garrett FCA Xeinadin Audit Limited 100 Barbirolli Square Manchester M2 3BD 8ankers Handelsbanken plc Croydon Branch 2 Cherry Orchard Road Croydon CRO 6BA Web-site www.le ac outhzone.or
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 8 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 2.2 Strutlure, governance and management Governing document Legacy Youth Zone is a company limited by guar3ntee without sh3re c3PIt31 and registered under the Companies Art 2006, registration number 10405820. The company is governed by it5 Memorandum and Article5 of A550ciation dated l October 2016, Management of the company's affairs is vested in the co-Directors. It is a charity registered with the Charity Commission on 18 M3y 2017. In the event of winding up, the present members and those who have ceased to be a member within one year of such event h3ve guaranteed the liabilities of the company to the sum not exceeding ten pounds each. RecruitmentondoppointmentoA Trustee5 (Director51 The first Director5 were the 5ub5cribers to the memorandum as notified to Companies House a5 the first Directors of the Charity. A person appointed as a Director thereupon becomes a Member of the Charity and a Director who ceases to hold office for any reason thereupon ceases to be a Member of the Charity. Directors have the power to appoint, by ordinary re501ution, any person to be a Director who 15 willing to act as such. New Directors will be recruited according to th& needs of the Charity and the suitability of possible candidates. A unanimous approval of existing Oirectors would lead to the appointment. The Memorandum and Articles of Association states that the members IDirettorsl shall have no maximum and shall not be less than three. At the first Annual General Meeting all Directors must retire and seek re-election. At each subsequent Annual Gener31 Meeting one third of the Directors are required to retire by rotation and seek reappointment if they wish to continue. The Member5 01 the Charity are its Directors for the tirne being and the only persons eligible to be Members of the Charity are its Directors. Full details of the rules are contained in the Company's Memorandum and Articles of Association, dated on incorporation on 1st October 2016, which may be inspected at the Legacy Youth Zone registered ollice. Orgonlsotlonulstrvrture Legacy Youth Zone is governed by it5 Trustee Board which 15 responsible for setting the strategic direction of the organisation and the policy of the Charity. The Trustees carry the ultimate responsibility for the conduct of Legacy Youth Zone and for ensuring the Charity satisfies its legal and contractual obligations. Trustees meet approximately every two rnonth5 and may delegate the implernentation of their decisions or day to day operation of the organisation to senior management, any employee of the Charity, person or committee as they see fit. Any committee must include at least one Trustee. The Trustee Board is independent from management. Deci5ion5 are determined by a 5irnple majority of vote5. In the case ol an equality of votes the Chairperson of the rmeeting has the casting vote. Relutedporty transuction5 None of our Trustees received remuneration or other benefit from their work with the Charity. Any connection between a Trustee or senior manager of the Charity with a connected party lincluding donors, suppliers and staff) must be disclosed to the lull board of Trustees in the same way as any other contractual relationship with a related party. Related party transattions are disclosed in Note 15 to the Financial Statements. Puypoll¢v The Tru5tee5, consider the board of Director5, who are the Charity'5 Tru5tee5, and the senior rnanagement tearm comprise the key management personnel of the Youth Zone in charge of diretting and controlling, running and operating the Charitv on 8 day to day basis. All directors give of th&ir time freely and no director received remuneration in the year. The remuneration of the full staff teèm is reviewed annually by Trustees and, if financial resources allow, generally increase in accordance with being a Real Living Wage employer. Trustees continue to be optimistic around rheir commitment to be a Real Living Wage employer although remain open to reviewing this position based on future announcements from the Real Living Wa8e Foundation and the Charity's financial position.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 9 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 2.2 Strudure, 8overnance and management Icontlnuedl Risk management Legacy Youth Zone utilises a risk register to regularly review risks associated with the Charity. The top risks to the Charity are shared with Trustees during each board meeting. There are opportunities for Trustees to explore these risks in greater detail during board meeting5 as well as outside ol the formal meeting structures. A full risk review 15 scheduled at least once a year. The risk register is maintained by the Charity's senior management team and updated on a regular basis. The risk register is divided into the following categori&s'. Str3tegic Operational Governance and Reputation Risks are graded according to the likelihood of occurring and the potential impact to the Charity. This is done both before and after the addition of control measures. Where appropriate new risks are identified or closed in each section and an overall score is allocated to each category to allow the Board of Trustees to compare the Management of risk5 to the Charity over a period of time. The overall arnount of risk to the organi5ation ha5 been Stable throughout the last year with rn05t areas having minirnal changes. However, the Trustees are mindful that risks associated with achieving income targets and maintaining a reserves position of between 3-6 months should continue to be carefully considered with reg8rds to how to mitigate these risks over the coming year. 2.3 Statement of Trustees, responsibilities The Trustees Iwho are also the Directors of Croydon Youth Zone for the purpose of company lawl are responsible for preparing the Trustees Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affair of the charitable company and ol the income and expenditure, of the charitable company for that period. In preparing these financial 5tatement5 the Tru5tee5 are required to.. Select 5Ultable accounting policies and then apply them con515tently,' Observe the methods and principles in the Charities SORP,. Make judgements and estimates that are reasonable and prudent,. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in th& financial 5tatements', Prepare the financial 5taternents on the going concern basis unless it is inappropriate to presume that the charit3bl& cornpany will continue in bu5ine55. The Trustees are responsible lor keeping adeouate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with th& Companie5 Act 2006. They are also responsible for safeguarding the assets of the charitable cornpany and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that so far as they are aware, there is no relevant audit information of which the Charity's auditors are unaware. The Trustees have taken all of the steps that they ought to have taken as Trustees in order to make themselves aware of the relevant audit information and to e5tabli5h that the Charity's auditor5 are aware of that information. The financial statement5 cornply with current statutory requirernents. the cornpany'5 Memorandurn and Article5 or Association and the Charities SORP.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 10 Trustees, Report and Financial Statements For thè year ended 31 Marth 2024 2.4 Compliance with accounting standards In accordance with section 414CIIII of the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013, the company ha5 prepared a strategic report, which includes information that would previously been included in the Trustees. Report. The financial statements comply with current statutory requirernents, the company's Memorandum and Articles of Association 2nd the Charities SORP. 2.5 Statement as to Illsclosures to our auilltors In accordance with section 489 of the Comp3nie5 Act 2006. a resolution to re-appoint Xeinadin Audit Limited will be proposed at the Annual General Meeting. The Trustees report was approved and was signed on behalf of the Trustees by.. 7DD K Morley Chairrnan,. Company Direttor and Trustee Date.. 1911212024
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Pagell Independent Auditor's Report to the Members For thè year ended 31 Marth 2024 Oplnlon We have audited the financial statement5 of Croydon Youth Zone (the 'charitable cornpany'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Staternent of Cash Flows and notes to the financial starements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law 3nd United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial 5tatement5'. give a true and lair view of the state tsf the Charitable Company's affairs as at 31 March 2024 and of its income and expenditure, for the period then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISA5 IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethic31 requirements that are relevant to our audit of the financial 5tatement5 in the UK, including the FRC5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatln8 to 8oln8 con¢em In auditing the financial staternents, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the Charitable Company's ability to continue as a going concern for a period ol at lea5ttwelve tnonths from when the financial statements are authori5ed for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern ère described in the relevant sections of this report. Other information The Trustees are responsible for the other information. The other information comprises the information included in the Trust&e5' report other than the financial statements and our auditorfs report thereon. Our opinion on the financial staternents doe5 not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing 50, Consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 3 material misstatement in the financial 5tatement5 or a material misstatement of the other information. If, b85ed on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters pres¢rlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees, report, which includes the Directors, report prepared for company law purpose5, lor the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Directors, reporr included within the Trustees, report has been prepared in accordance with applicable legal requirements.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 12 Independent Auditor's Report to the Members Icontinuedl For thè year ended 31 Marth 2024 Matters on whlch we are requlred to report by exteptlon In the light of the knowledge and understanding of the charitable company and its environment obt3ined in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respecr of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. the inforrnation given in the Tru5tee'5 Annual Report is inconsistent in any material respect with the financial statements,. or the Charitable Company has not kept adequate accounting records., or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we reouire for our audit. the Trustees, were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the 5rnall companie5, exernptions in preparing the Trustee5' report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more lully in the Statement of Trustees, Responsibilities set out on page 6, th& Trustees (who are also th& Director5 01 the Charitable Company for the purposes of company lawl ère responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable cornpany's ability to continue a5 a going concern, disclosing, a5 applicable, rnatter5 related to going concern and using the going concern ba51S of accounting unless the Trustees either intend to liquidate rhe charitable company or to cease operarions, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audlt of the financlal ststements Our objectives are to obtain reasonable assurance about whether the financial Statements a5 a whole are free Irotn material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable 8ssurance is a high level of assurance. but is not a guarantee that 8n audit conducted in accordance with ISAS IUKI will always detect a material rni55tatement when it exi5t5. Mi55taternents can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expetted to influence the economic dlsionS of users taken on the basis of th&se financial st3t&ments. Irregularitie5, including fraud, 3re instances ol non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of Irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Identifying and assessing Potential risks related to irregularitie5 In idenrifying and assessing risks of material misstatement in respecr of irrezularities including fraud and non-compliance with laws and regu18tions we h8ve consider&d the following.. The nature of the industry and sector, control environment and business performance including the Charitable Company's remuneration policies, key drivers for remuneration and performance targets., Results of th& enquiries of m8nagement about their own identification 8nd assessment of the risks of irregularities,. Any matters we have identified having obtained and reviewed the company's documentation of their policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance,. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations,. the rnatter5 discussed arnong the audit engagernent team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
DoGusign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 13 Independent Auditor's Report to the Members Icontinuedl For thè year ended 31 Marth 2024 As a result ol these prtscedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas.. revenue recognition. In common with all audits under ISAS IUKI, we are also required to perform specific procedures to respond to the risk of m3nagement override. We a150 obtained an understanding of the le831 ènd regulatory frameworks that the Charitable Cornpany operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in thi5 context included UK Cornpanies Act. Charities Act, Health and Safety Laws and Environmental Regulations. In addition, we considered provision5 01 other law5 and regulation5 that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a rnaterial penalty. Audit response to risks identified Our procedures to respond to risk5 identified included the following.. reviewing the financial statement disclosures and testing to supporting document8tion to assess compliance with provisions of relevant law5 and regulation5 described a5 having a direct effect on the financial staternent5.' enquiring ol management concerning 3ctu31 and potential litigation and claim5; performing analytical procedure5 to identify any unusual or unexpected relationships that rnay indicate ri5k5 of material Misstatement due to fraud,. reading rninutes of meetings of those charged with governance and reviewing correspondence with HMRC., and in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustrnents,. assessing whether the judgements m3de in making accounting estimates ar& indicative of a potential bias., and evaluating the bu5ine5s rationale of any significant transaction5 that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. No instance5 of material non-cornpliance were identified. However, the likelihood ol detecting irre8ularitie5, including fraud, is lirnited by the inherent difficulty in detecting irreEularities, the effectiveness of the entity's controls, and the nature. timing and extent of the 3udit procedures performed. Irregularities that result from fraud might be inherently rnore dillicult to detect than irregularitie5 that result frorn error. As explained above, there 15 an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS IUKI. A further description of our re5ponsibilitie5 for the audit of the financial 5taternent5 is located on the Financial Reporting Council's website at: https'.//www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Use of our report Thi5 report Is rnade solely to the Charity's Members, as a body, in accordance with Chapter 3 of Part 16 of the Cornpanies Act 2006. Our audit work has been undertaken so that we might state to the Charitws Members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or a55ume responsibility to anyone other than the Charity and the Charitls members as a body, for our audit work, for this report, or for the opinions we have formed. 100 Barbirolli Square Manchester M2 38D Micha&l Garrett (Senior Statutory Auditor) For and on behalf of Xelnadln Audlt Llmlied Statutory Auditors and Chartered Accountants Date.. 19 December 2024
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 14 Statement of Financial Activities lincluding Income & Expenditure Account) For thè year ended 31 Marth 2024 2024 Unrestricted 2024 Restricted 2024 TOTAL 2023 TOTAL N¢)te INCOME AND ENDOWMENTS FROM: Donations 979.617 220.586 1,200.203 838,245 197A21 118.7841 179.037 252,597 Investment Income Bank interest 320 320 529 Other income Other income 15.Z27 15.Z27 29,173 Total income 1,192.986 201,801 1,394.787 1,120,544 EXPENDITURE Expendrture on choritable uctivities Operating costs 1,167,903 471,987 1,639W90 1,978,579 Totsl expendlture 1,167.903 471,987 I,63990 1,978,579 Net Income lexpendlturel 25.083 1270,1861 1245,1031 1858,0351 Fund balance brought forward 1.073,377 5.923.292 6.996.669 7,854,704 Fund balance carried forward 14 1,098A60 5.653,106 6,751,566 6,996,669
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 15 Balance Sheet For thè year ended 31 Marth 2024 Company no .' 10405820 Charity no 1173107 Note 2024 2023 Fixed assets Tangible assets li 5,911,945 6,091,563 Current asset5 Oebtors Cash at bank and in hand Iz 39.021 932,533 29,385 1,046,775 971,554 1,076,160 Credltors: amounts falllng due wlthln one year 13 1131,9331 1171,0541 Net current assets 839.621 905,106 Net assets 6,751,566 6,996,669 FUNDS Unrestrlcted fvnds General funds Designated fund- Repairs & renewa15 14 1,098A60 1,073,377 Restricted funds 14 S.653.106 5,923,292 6,751,566 6,996,669 The Financial Statements on pages 14 to 24 were apprtsved and èuthorised for issue by the Board of Trustee5 and signed on its behalf by.. 7DDO K Morley Chairrnan,. Company Director and Trustee 45). Oate.. 19/1212024
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 16 Statement of Cash Flows For the year ended 31 March 2024 2024 2023 Cash flow from operating activities 1114,5621 1611,9361 Cash flow from investing artlvltles Interest received Payrnents to acquire tangible fixed as5et5 320 529 172,6631 (Decrease) increase in cash and tash equivalents 1114,2421 1684,0701 Cash and cash equivalents at l April 2023 1.046,775 1,730,845 Cash and cash equivalents at 31 March 2024 932,533 1,046,775 Cash and cash equivalents consists of: Cash at bank and in hand 932,533 1,046,775 Reconclllatlon of net Income to nei cash Ilow from Opera8 actfvltles 2024 2023 Net lexpenditurel income for the year Depreciation Investment income Decrease / lincre35el in debtor5 Increase I Idecreasel in creditors 1245,1031 179,618 13ZQI 19,6361 139.1211 1858,0351 182,419 15291 54,387 9,822 Net cash flow from operating activitie5 1114,5621 1611,9361
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 17 Notes to the Financial Statements For thè year ended 31 Marth 2024 General information Croydon Youth Zone is a charitable company limited by guarantee in the United Kingdom. In the event of the charity being wound up. th& liability in respect of the guarantee is limited to £10 per Member of the charity. The addres5 of the reBlStered office 15 given in the charity information on pagel of these financial statements. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019, the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January 2019. Attountin8 policies 8asis of preparation The Financial Statements are prepared on a going concern basis under the historical cost convention. The Financial Statements are prepared in sterling which is the functional currency of the Charity. The Significant accounting policies applied in the preparation of these Financial Statement5 are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 11. Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance ol the general objectives of the charity and which have not been designated for other purposes. Designated fund5 cornprise unrestricted funds that have been Set aside by the Trustees for particular purpose5. Restricted funds are funds which are to be used in accordance with specific restrittions imposed by donors or which have been raised by the charity for particular purposes. The cost of r315ing and administering such funds are charged against th& Specific fund. The airn and use of each restricted fund 15 Set out in the note5 to the Financial Statement5. Income recognition All income is included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance conditions have been rnet, the amount can be measured reliably and it is probable that the income will be received. For don3tions to be recognised. th& charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and thi5 require5 a level of performance before entitletnent can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Gr3nts. including gr3nts for the purchase of fixed 3ssets, 3re recogni5ed in full in the Statement of Financi31 Activitie5 in th& year in which they are receivable, except for those grant5 which are for a Specific future period, in which case the relevant amount is deferred to that period. Expendlture Expenditure is recognised on an accruals basis as a liability is incurred. Choritable expenditure Charitable expenditure cornprises those costs incurred by the charity in the delivery of it5 3Ctivitie5 and services. It includes both costs that can be allocated direttly to such activities and those costs of an indirect nature necessary to support them. GOvernOn costs Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use ol the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 18 Notes to the Financial Statements For thè year ended 31 Marth 2024 v. Tangible flxed assets The total value of fixed as5et5 held in the balance sheet reflect the initial planning and development costs of the asset under construction. These balances hold some items where the value is less than £250 as the purchase is deemed to be necessary to bring the projett into a fully operational position. Upon opening of the Youth Zone and in future periods thereafter any purchase costing less than £250 will be included in the profit or loss at cost and any fixed asset costing more than £250 will be capitalised and included on the balance sheet at cost. Fixed assets are depreciated so a5 to write off the cost or valuation, les5 anticipated residual value, over their anticipated useful lives, subjett to annual review as follows.. Leasehold property Computer equipment Fixtures & fittings Motor vehicles over the life of the lease 33% straight line 25% reducing balance125% straight line 20% straight line vi. Debtors and credrtors receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairrnent are recognised in expenditure. The entity only has basic financial instruments. vll. Tax The Charity is an exernpt Ch3rity within the meaning of schedule 3 of th& Charities Act 2011 and is considered to P3SS th& tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. viii. Goin¥ ¢ontern The fin3ncial statements have been prepared on a going concern b3sis as the Trustees believe that no materi81 uncertainties eK15t. The Trustees have considered the level of fund5 held and the expected level ol incorne and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be 3ble to continue as a ROIn concern. Ix. Penslons Contributions to defined contribution plan5 are recognised 3s an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extend that the prepayment will lead to a reduction in future payments or a cash refund. Government grants Government grants are recognised on the accrual model and are measured at fair value of the asset receivable. Grants are cla55ilied a5 relating to either other income or to a55et5. Grants related to other incorne are recogni5ed in the profit or105S over the period in which the related costs are recognised. Grants relating to assets are recognised over the expetted useful life of the asset. Where parr of a grant re13tinB to an asset is deferred, it is recognised as deferred income. Donation5 Unrestricted 2024 Restricted 2024 TOTAL 2024 TOTAL 2023 Grants, trusts &foundations 612A88 214.586 827,074 6,000 291.500 31.328 18.360 17,500 8,441 133,593 16,131 552,402 44,622 34,640 49,823 7,034 Founder patrons Corporate don3tion5 Communitydonations Other patrons 291.500 31.328 18.360 17,500 8,441 979.617 220,586 1,200.Z03 838,245
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 19 Notes to the Financial Statements For thè year ended 31 Marth 2024 Income from charltable actlvltles Unrestrlcted 2024 Restrlcted 2024 TOTAL 2024 TOTAL 2023 Operation of Youth Zone I9721 118,7841 179,037 252,597 I9721 118.7841 179,037 252,597 Other intttme Unre5tri¢ted 2024 Restricted 2024 TOTAL 2024 TOTAL 2023 Other income 15.Z27 15.Z27 29,173 15.Z27 15.Z27 29,173 Operatlng Costs Unrestrlcted 2024 Restrltied 2024 TOTAL 2024 TOTAL 2023 Fundraising costs Staff wage5 & sa13rie5 Staff travel expenses Recruitment & DB5 checks (staff & volunteers) Staff training & welfare Uniform Telephones Ilandline. mobiles & broadb8ndl l.T. website & software Professional & consultancy fees Licences Other supplies & sundry costs Insurance Printing, postage & stationery Hospitality Marketing & comm5 Recruitment adverts & resources Audit fee5 onside network donation Bank charges Volunteer costs 331 747,677 2.472 1.781 9,089 1.673 8.325 15.666 34,603 19A81 2.941 30.908 1,964 80,774 187,634 300 81.105 935,311 2.772 1.781 9,089 1.673 8.325 15,666 34,603 19A81 3.301 30.908 1,964 15,108 1,245,388 3,839 1,692 14,026 1,096 8,437 18,648 32,297 14,928 1,793 28,016 4,707 loo 11,247 360 4.336 7.606 6,610 25.000 2.ISI 781 67,784 62,555 24.724 81.977 7A58 4.336 7.606 6,610 25.000 2.151 798 67,784 75,320 38.060 86.619 179,618 10,060 25,000 1,846 1,297 132,629 53,325 77,569 93,112 182,419 17 Premise5 COSt5 Sessional consumables- all departments Café & catering Depreciation 12,765 13,336 4,642 172,160 1.167.903 471.987 I.63990 1,978,579 Taxa0 Croydon Youth Zone is a registered Charity. All the company'5 income is applied to it5 charitable objectives and the Company is therefore exempt under current legislation from most forms ol taxation. Net income lexpenditurel 2024 2023 Net incorne / rnovement in funds is stated after charging.. Depreciation of tangible fixed assets Audit lees 179.618 6.610 182,419 10,060
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 20 Notes to the Financial Statements For thè year ended 31 Marth 2024 Staff costs and numbers 2024 2023 Wage5 Social securitv Pensions S7704 47,076 IOA31 1,157,655 70,860 16,873 935,311 1,245,388 2024 Number 2023 Number Average number of employees 73 92 No employees have benefits over £60,000 in either year. 10 Trustee remuneration and expenses There were no Trustees. remuneration, benefits or expenses paid for the year ended 31 March 2024, nor for th& period ended 31 March 2023. 11 Tangible fixed assets Land & Computer Property Equipment Fixtures & Fittin9S Motor Vehicles TOTAL Cost At l April 2023 Additions 6.360,144 95.505 363,302 16.430 6.835,381 At 31 March 2024 6.360.144 95.505 363.302 16A30 6.835.381 Depreciation At l April 2023 Charge for the year 449,105 127,203 76.091 10,563 213,208 38,566 5.414 3.286 743,818 179,618 At 31 March 2024 S76,308 86.654 251,774 8.700 923.436 Net book value At 31 March 2024 5.783,836 851 111.528 7.730 5.911,945 At 31 March 2023 5,911,039 19,414 150,094 11,016 6,091,563 Debtors 2024 2023 Trade debtor5 Prepayments and accrued income Other debtors 18A07 15A78 5.136 23,969 280 5,136 39.021 29,385
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 21 Notes to the Financial Statements For thè year ended 31 Marth 2024 Creditors: amourrts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Other taKe5 & social security Pensions control Net wages 40.Z24 11.941 21,182 2.156 S6A30 38,947 35,000 26,795 2,721 67,591 131,933 171,054 Movement in funds The movement in funds for the year is as follows.. Opening Ba13nce Closin8 Balance Income Expenditure Transfer Unrestrlcted funds General funds 1,073,377 1,192,986 11,167,903) 1.098,460 Totsl unrestrlcted funds 1,073,377 1,192,986 11,167,903) 1.098,460 Restricted funds Fixed Assets Babyzone Big Local Broad Green-Library Burberry CCHA Holid8y Club Champions Children Campaign Mentoring Croydon asylum seeker Culture of Health Displaced Young People Funding HAF programme holiday club IGY-Anonyrnous-Fundraising Initiative Jack P&tchey Achievement Awards Jack Petche¥ Covid Jack Petchey Internship Programme James Findlay (computers and IT costsl Jubilee Event Funding Kick Start Prudence Trust Reedham Children's Trust Sensory Garden Sen50ry Room Equipment Sony Music UFC Project Viridor Beddington Community Benefit Wheelchair basketball Winter Holiday Hunger 22-23 Young Londoners Fund 5,779,874 209 13,312 18651 18,528 12241 5,000 6,864 1172,1601 5.607,714 209 113,3121 15,0001 118,5281 224 15,0001 16,8641 16,0001 124,9491 12,0941 18,7351 11,8151 5,000 18651 6,000 24,949 2,094 6,749 1,815 333 711 16941 11,851 13,7261 15,8341 15401 12,383 8,702 13,1321 15,0001 9,960 29,034 10,939 8.100 6,114 333 17111 694 111,8511 117,7321 139,8651 540 17,615 51.649 13,8431 5,950 12,383 21,685 617 15.0(N)I 7,860 111.206 16,374 198,2231 112,6251 12,1001 114,8921 110,9901 114,1421 1511 Totsl restricted funds 5,923,292 201.801 1471,9871 5.653.106 Totsl funds 6,996,669 1,394,787 11,639,890> 6,751,566
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 22 Notes to the Financial Statements For thè year ended 31 Marth 2024 14 Movement In funds (Coned) Restricted funds at 31 March 2024 comprise the following: Legary Restricted Funds Description 8abyzone A grant to develop a free, walk-in mother and toddler group, breaking down barriers for parents who may struggle to access traditional provision. Big Local Broad Green-Library Funding to develop a fully equipped Library within Legacy, complete with bespoke book cases, desks, computers and staffing to support young people with school work, reading and computer skills. Burberry Funding to cover core art programmes. £15K per year and then some additional income lor volunteering projects. Funding from CCHA covered 7 holiday club spaces per day for 12 weeks a year to support young people who are housed by CCHA to access Services during the holiday5. To facilitate the recruitment of a Mentoring Co-ordinator. This local authority grant cover's core operation and staffing costs to 5UPPOrt young people seeking asylum and placed in the borough in hotels or shared accommodation. The costs covered staffing, entry, membership and meals for young people. CCHA Holiday Club Champions Children Campaign Mentoring Croydon asylum seeker Culture of Health A projett aimed at creating a complete healthy environment at the Youth Zone. Displaced Young People Funding This local authority grant cover's core operation and Staffing costs to support displaced young people and placed in the borough in hotels or shar&d 8ccommodation. The costs covered st3ffing, entry, membership and rnea15 for young people. Funding to operate a Holiday Food & Fun club for the young people eligible lor free school meals. A grant to help develop Legacy's fundraising team through establishing new income streams and supporting the charity's overall sustainability. HAF programrne holiday club IGY-Anonyrnous-Fundraising Initiative Jack P&tchey Achievement Award5 Have helped us to begin to recognise th& achievement5 of young people at Legacy since February 2020. A grant to help us deliver crucial health and wellbeing support by contributing 20% 01 the prO1t Costs to be d&livered between April and October 2021. Funding the youth worker5 that make this Possible in the recreational area, wellbeing rooms and through our sports provision. Jack Petchey Covid
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 23 Notes to the Financial Statements For thè year ended 31 Marth 2024 Restricted fund5 at 31 March 2024 comprise the following Icontinuedl: Legacy Restricted Fund5 Jack Petche¥ Internship Programme Description This was match funding to provide an internship for one person. The role wa5 Systems and HR Administrator and the funding w85 for one year. James Findlay (computer5 and IT c05t51 Donated funds to purchase laptops for young people who did not have access to a device at home during national lockdowns, to help support with their school work and general well-being. Provided us with funding that en3bled us to purchase Outdoor cinema equipment, netball equipment and football equipment for our young people. Jubilee Event Funding Kick Start A government employment scheme aimed at getting young people back into ernployrnent. Funding for a youth worker with a focus on mental health of young people. Prudence Trust Reedham Children's Trust Funding to cover a targeted school 3nd community engag&ment project for 3 year5. The costs cover Staffing who work c105ely with schools and community organisations to help identify and manage referrals of young people who wouldn't likely be able to access th& youth service without the Support. Option a.. Funding to support costs to get someone to design and create a sen50ry garden Space for young people. Thi5 wa5 consultancy work. Sensory Garden Option b.. C05t5 to provide equiptment in the outside garden space to help transform it to a more engazinz sensory space. Costs covered p18nters and growing equipment. A collaborative project with support received from Wooden Spoon, the Toy Trust and Jarne5 Tudor Trust, which enabled us to equip our sensory room with the high Quality resources to support young people with additional needs. Sensory Room Equipment Sony Music Funding for a Pan-London music programme aimed at providing opportunities for young people with musical arnbition5. A programme to run mixed martial arts for at risk young people. Expenditure wa5 incurred in advance of the funding being received after the reporting date which generated the deficit on the fund. Funding for a film project promoting young people. This film was written and produced by young people. Expenditure was incurred in advance ol funding being received. Funding for wheelchairs and staffin£ to deliver wheelchair basketball sports to young people. Expenditure for wheelchairs was incurred in advance ol funding being received. Staff c05t5 calculated monthly. UFC Project Viridor Beddington Community Benefit Wheelchair basketball Winter Holiday Hunger 22-23 Funding from Onside Youth Zones to provide free meals during the Winter period Dec 2023 - Feb 2024. Funding reporr completed and Submitted to Onside who then release the funds. Young Londoners Fund Funding Legacy'5 employability programrne 'Empowered', 5UPPOrting young people at risk of exclusion, social isolation or criminal behaviour to find a job, work experience and apprenticeships through targeted workshops.
DoGUSign Envelope ID". CE4D5562.E4DE4126-8BOA.C4923BDCCODD Croydon Youth Zone Page 24 Notes to the Financial Statements For thè year ended 31 Marth 2024 The movement in funds for the prior period is as follows: Op&ning Balance Closing Balance Income Expenditure Transfer Unrestricted funds 1,589,563 899,202 11,415,388) 1563,1911 1,073,377 Restricted fund5 6,265,141 221,342 5,923,292 Total restrl¢ted funds 6,265,141 221,342 1563,1911 5,923,292 Totsl funds 7,854,704 1,120,544 11,978,579> 6,996,669 IS Analysls of net assets between funds Unrertrlcted Deslgnuted lund5 fvnds 2024 2024 Restrlcted Aund5 2024 Totc*l fvnds 2024 Totol funds 2023 Tangible fixed assets 5.911,945 1258,8391 5,911,945 839,621 6,091,563 905,106 1.098,460 1.098,460 5.653,106 6,751,566 6,996,669 Unrestricted Designated fijnds funds 2023 2023 Restricted fijnds 2023 Totul funds 2023 Totol Funds 2022 Tangibl& fixed assets Net current assets Iliabilitiesl 6,091,563 1168,2711 6,091,563 905,106 6,201,319 1,653,385 1,073,377 1,073,377 5,923,292 6,996.669 7,854,704 16 Related party transaction5 Ouring the year the charitable company received grants and donations which in total amounted to £10,600 from various Trustees of the charitable company, their associated Foundations or Businesses or from charities with a shared Trustee. No other Trustee or other personal related to the charitable company had any personal interest in any contract or transaction entered into by the charity during the year. 17 Control There is no ultimate controlling party.