Rgglstered number: 104456B5 Charlty number,. 1173239 BARNET YOUTH ZONE (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 BARNET YOUTH ZONE IA Company Llmlted by Guarantee} CONTENTS Reference and Adminlstratiyo D¢lall$ of the Charfty, Its Truste•s and Advls8rs Chalmian's Statement Trustee5' Report Independent Audllorfs Report on tho Flnanclal Statem•nt# statemenl of Flnan¢lal Actlvltlos 4- 11 12-15 16 Balance Sheet 17 Stat¢mgnt of Cash Flows 18 Notes to the Flnanclal Statements 19-35 BARNET YOUTH ZONE {A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRAMVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Tru$t•o$ O Alabi J A118n K Black N Hammond Lord J M&nd8lsohn G 118lton J Lermer Ir&sign8d 22 Sept8mb8r 20221 F Are3￿ (resigned 17 Nov$mber 20221 K Morfey IresSgned 2 January 20231 K Shah (resigned 17 Novembèr 2022) C Auli8 {appointed 22 September 20221 A Hayman lapp(Hnted 2 February 2023) A Benjamin (appoirtsd 2 FebTuary 20231 H Kalic* (appointed 2 February 20231 Company reglstered number 10445685 Charlty reglstered number 1173239 Règlst•r•d offl 76 Montrose Avenue Edgware HA8 ODT Indép8nd&nt audltor Crowe U.K. LLP 3rd ftoor Thè L8X￿n klounl Street Manthesler M2 5NT Bankgr¥ Handd5banken Hygeia Buikling 66 College Road Harrow FLA1 IBE Page 1 BARNET YOUTH ZONE {A Company Llmltsd by Guarantee) cH￿RMAN's STATEMENT FOR THE YEAR ENDED 31 MARCH 2023 The chairman presents his statement for the year. Unitas opened ils doors In June 2019. In March 2020. the COVICk19 pandemic totally upendèd all of our lives. Restrictions came and went, but ffin811y by 8pring 2022, we were over the worst of tt. As a re8utt, the financial year April 2022-March 2023 was really the first normal of operab'on5 frjr the Ywth Zono and as such give8 US 8 chance lo seé what. when operating at full capacity, Untss can a¢hieve. l am pleased lo report that during tho year Unitss has had a great many achievem9nts. We were op8n every week of the year bar a training weok in January 2023, and Dur almost 4,000 m8mb8rs made more than 50,000 Msits, Wè Qpen thrDughoLrt Ihe week for our regular 9e88ions, plu8 Hollday Club {8am- 3pm or an extended day 19 6pm) duting every week of the school holidays. in lotsl, more than 2,500 hourB of youth provision. Our 'offerf (the acb'vthes that WÈ run for the y￿rt9 people when they are in the oentrg} was vibrant throughout th8 yaar. Our sports prowsion was strengthened wth the addrt￿n of ¥dIe￿Il. an expansion of our boxing programming and new equipmgnl. Our male basketball t&am represènted the London Borough of Barnet al the London Youth Games and onè of our mernbers was offeTed a basketball sdwlarship to a college in the USA. Over the year, well over 3.000 indiwdual young peoplè ￿aYed 5POrt or used our gym at Unitas", this is 8gPgcially important given the deep challenges around otesty in youn9 peoFAe In 8amet and surrounding boroughs. Our arts team took young people on trips to shsm and dan￿ Performan￿$, worked extensively on mental health, upskilled young peopl8 wth graphic desgn skills arKI. in partnership with Sony, we woro abl¢ 1¢ offer one- twn6 music m8ntoring. Our young people played an integral rule in the design of the new logo for Bumt Oak and we are grateful lo thè Councal for invofvin9 our members in such a serious-minded way in the consultation process for the Buml Oak pla¢emaking project We threw open the doors of the Y¢th Zone ¢)n a nLtynber of octasions to the local communty, induding 8 memorable day in June 2f122 when we celebrated Unit3s' third birthday in stoe. Ovèr a thousand local people of all ages attended in onty four hours and saw Ihe wbtarrt, dNerse and exaling work that Unitas does every single day. We also held wdl-received public events for Blath History Month and a Winter Wondedand fostive lebration in Decembor 2022. We were honoured that the Mayor of Bamel and a number of cjwncillors join us for these occasiDns. Our enterprise and employabilty PTogramm& h8lp8d young peoplè to get new qualnlcation5, learn aboul th¢ worfd of work, 8ppty for and in many cases secure jobs and improve their ￿nfidenCe and readiness to worf(. With a grant from the Greatèr London Authority.. we delrvered over 1.400 hou[8 of c)n+to-ong mentoring to Support young people when they needed tt most. We were honoured ID be named Charity of thè Year by Tha Bamet Group, and we raised the roof at ArtsDepot in the Summer to cdebrate the achievements of our Jad( Petthey Award wnnwB Ith? most, by far, of any organisati)n in the Borough). We partnered with Cricklewood Boxing Club and London Boxing on a number of youth boxing shows and hosted an inspiring evening I'motown wlch a Twisl) of perfOrmar￿eS by our young people to a raptvrous crowd. A number ol our young people learned to ski or snowboard in partnèrship wth the ¢harity Snowcamp, wth eight g(Mng lo Italy {8om¢ boing abroad for the first timel to ty OLrt their skills on the 8IqR5. We were able. thanks to 8 grant sec#Jred by Onside. lo offer free entry and a free meal on all sewons from December 2022 to March 2023, at the height of the cost-of-liwng crisis. This lifeline for local families was Unitas at its finest. Page 2 8ARNET YOUTH ZONE IA Company Llmltgd by Guarantsg) CHAIRMAN'S STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Throughout the busy year, we have a￿ayS been mindfijl of our most basic respon5ibilit￿8 - he¥lth and gafety, security, safeguarding - and have ensured that young people who come to Unitas find an envlronment where they c3n truly thrive. I want to p8y tn.bule to the in(xedible wE)rk of our stsff (paid and volunteers). wthoul vthom quite simply we would not bè able lo do ￿3t do. With both a ftJll-tim8 staff and over 50 Sessional workers al any one time, we are also an important I￿1 employer.. and we often give roles lo thtsstt who might othèrwise struggle lo find employment - younger people and ex-offenders. We havo a rigorous indudiDn process and regular supervision to 8UPPOrt ¥laff. Our young people deserve rK>1hing but tho b0$t from our staff and every S@s￿on th8y ddiver. Financialty, this ha5 been a tough year. We have rgxrded a substantial (Jefidt, drfven both by not meeting our fundraising tsrgtsts and suffering from un¢xpe¢teil inflationary cost increases duriThJ the year in a number ol key smas. W8 w&r• without a full fundraisin9 team for most of the year, and athough we had some real 8uccesses lesperAally our cmwdfunding campaign in November 20221, we along wlh the rest of the charity sQLtor havo found a number of donors ￿du￿ng their conlrilyJh(Ins or not renwng * all. Th8 high energy prices placed an intolorable kxjrden on our finan￿$ and we can onty hope that the recent reiluctions in price (though still double what they were onty 18 months ago) wi11 continue. As a of our finaneA81 situ*ion, the Board instructed our Chief Ex8ctJtiv8 to pr&sent a credible plan for balanced budget for 2023124, anrj the only way lo achieve this was lo restructure our staffing. Three member8 ¢f staff were sadly made sadly redundant in Marth 2023. the appointment of a new Head of Fundralsing in January 2023 and a clear fundrdi5ing stratsw. ate FK)peful that our inox)m0 will pldf up and we will soon be ablè to grow our offer further. Despits these challenges, Units$ remains an incredible su¢ce5s stsry wihin our local community. We are the largest youth provision in North London and, in les5 than four yegrs and despfce the pandemic, are highly- r8gard8d locally and the 'h)me away from home, for thousands of young peop￿. Our p￿poSed budget for 2023124 envisages a spend of approximatety £1.4m', this is Still £400,000 short of wh81 wg would n¢od lo d¢livgr a truly ful￿ServI￿ offer. Unitas offers 8 superb 'retum on investment. for our donors, funds, and thtt marginal gain from any extra fundraising is large and quantifiabEe. l am confident that, in a reasonably shtrrt span of lime, we will generate the fijnds needed to athieve even mre than we already have and do. Our Board brings a diverse range of skills and voi(*s lo ensure that our g0veMan￿ is robust. During this year, Joff Lermer. Kathryn Mortey, Cllr Felix Aresco and Kalpana Shah stood (lown,. I thank them all for their immense contribution over a number of years. In turn, Cherryann Aulis. Alison Benjamin, Cllr Humayune (Kaliml Khallek ar￿ Anthony Hayman have joined the Board. Any charity is only as good 88 ils govemanc? and l am very proud ring so much and give of their timÈ and Ialents SD frèèly. Kei Ch Date.. Blad( pa 1st September 2023 Trust P8ge 3 BARNEf YOUTH ZONE IA Company Llmtted by Guarnntgel TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Tho Trustees presented Iheir report wrth the finamal Statements of the charity for lh8 y8ar ended 31 Marth 2023. The Trustee8 have adoplwj the pthsions of Accounts'￿ and Rewtting by Charities.. Ststemenl of Recommend￿ Pradi(* 8pplica￿e to charities and preparing their accnunls in accordance ￿th the Financial Reportlng Slandard ap￿￿able in the UK and Republic of Ireland {FRS 1021 {effecb"ve 1 January 20191. MS AND ACTIVITIES Objectlves and alms Unitas Youth Zone is a youth ¢harity, based in Bumt Oak in the Londc)n Borough of Bamet, whose vision is IL) unite young people lo help them fu￿1 their wtential. Based at a state-of-the-art facility and 3tsff811 by a18rg0 and diverne le8m of y¢ulh woth¢rs, wo offer 20+ activittes on every session. We are a universal provision. open lo all young people from the ages of ￿19 (and up lo 25 for young people with additional needs), funded primarily through philanthropic gift8 from generous irklividual donors and private-S6cior companies. FinancAal accessibllity 15 al the heart of what we do- membership for a year is £5. entrance each session Iw(th arceB8 to all 8Ctiviligs induded in that) 1$ 50p and a delicious. nutrrbous hot meal is £1. Young people who cannot afford thés& costs provided wlLh them for free. A registered charity, we 0￿ed in June 2019. We are part of Ihe Onside nefvKrk of Youth Zon¥s. Whllst all independonl organisalions, the nehyork bring5 US together thrDuyh a shared 'DNA° and mutual support. Onside has been building 21st Century youth faoliti'es auoss the UK for over a decade, based upon the hugely- successful Bolton La¢Js and Girfs Club model- an organisation established 125 years ago. W¢ prowide young people with "Somewhe￿ to go, somelhirrfJ to do and som8on8 to talk to". We are indebted to Barnet Coun￿1 and our oHginal (apital lunders for providiNJ us our amazing building. and our Founder Patrons and other donors Y4ho conth.bute each year lo our running o)sts. Stewardship of these donors is 8 major aetivity of our fvndraising team. to ensure that they feel enga9Bd in thelrfg vf the Youth Zone and hopefully will continue to gNe. We deliver 8 rango of ex¢iting adwity-ba5ed programmes that challenge, stimulate, and provide n opporttJniti8s for young people. Our facilrtie5 indude a dedicated art5 Space. a climbing wall. a and filne5S suite, a recreatiori SP8tr£, a boxing giudiD, a sansory room, a wellbeiro foom, an enterprise and empknyability room, a rooftop outdoor 4G pitth. a full-sized sports hall, a performing arts studio, a café. a Irdining kitchen, as well as musi¢, re￿rdIng strKlio arKI MU￿rnedia space5. Young peoplo of all ages are able to cantribute to the ftJtur& ol the Youth Zone wa our"Uniled Youlh" groups. and young peoplg over 16 can train as a°Young Leade and volunteer as lèader8 on our Junior18-12 year dd$l s¢$siws. We are Staffed by a mixlure of paid em ￿0yeeS arKI vdunteer5. We have a team of salaried stsff who both laad tha d8livery team and ensure that all the relevant baCk-Offi￿ fvncbons (finance, faeAlities, HR. data, reception elcl are managed effiriently and effectively. We then have sessional workers and volunteers who work directly th our members on se$8ion, 8s well as others play Invaluab￿ rcles in keeping the building clean. wel maintained and w)rf(ing on Te￿pboTr during the day. We pay all staff al mininwm the London tiving Wage. Unitas is r&presenled in the key local and 8ectorJl roundlables and organisations. and aim510 be a posrfcive force in the life of our10¢81 community. We ￿t th& buildiw out on both a commercial and reduce&r3te or free basis. depending on the group. Wè have a strong working relationship with Bamet Council and a￿ active members of the Young Barnet Foundation. As slated in the Chairrnan's ryrt above. we We￿ given thè Charity ol th& Year award by The Bamet Group. We also regularly hD8t wuwllors and other l¢xal dignitaries. P8ge 4 BARNET YOUTH ZONE IA Company Limlted by Guarantee} TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document Unitas is a company limited by guarantee wilhout share Capital and are registered under the Companies Act 1985, registration number 10445685. The company is governed by its Memorandum and Artides of A55ocialio dated 25 October 2016. Management of the company ss rested with the ¢odirèciors, il 19 a d)arily and was registered with the Charity Commission on 1 June 2017. In the event ol winding up, the pres8nl m6mbers and thos8 who have c•as8d to ￿ member8 the previous year vlll the guarantee the liabilrfties of Ihg wmpany only up to a sum of £10 each. Ro¢ruitm¥nl and appointmerrt of trustees The first directors were subscribèrs to thè laemorandum and noiffi8d tr) Companies, House 88 the first directors of the charity. A person appointed as a diredor the￿UpOn be(x)mes a member of the charSty and directors who ceased lo hold offi¢0 ftsr any reason. they cease to be a member of the tharity. Directors have the power to appolnl by ordinary fesolutioN. any person to be a director who is ¥wIl￿g to act as such. New directors will be ruiled ￿ordIng to the needs of Iha charity and 8Urt8bility of pog8ible Candidates aThJ unanimou8 approv8101 existing directors would lead lo their appointment Unitas has recenlly Crea￿ a fomial pro(*ss for tho appointrnent of new trusleesldirethrs, with a Nomination8 Cc*mmittee that scrub'nises the process lo ensure thai the most suitablg ¢an¢Jidato$ aro Ihg ones to join tho Board. The Memorandum and Arbdes of assooabon slates Ihat the number of membeT5 (director51 shall have not b8 less than three. Al the first Annual General Meellng all direciors must retire and seek re de¢tion. Al oa¢h subsequ¢nt Annual General Meeting. one third of the directors are required to retire by rotstion and seek reappointment if th6y wish to rxMbnuÈ. Al thè Annu31 General MeettryJ in November 2022, of the current director5 sought r￿lection. which ￿￿0 others stocrfl down. Full detsils of th¢ mlos are conts1r￿ in the companys Memorandum of Artides of Assoaation, dated on the inGorporalion on 25 October 2016 whth may bo insp8(#￿ at the unit as Ihe registered office. Tru$tees' induction and tralnlng The induction of new Trustees may commen(* ahead of formal ap￿IntrnenI which is subject to the 58tisPactory completion of the vettiw process Potenlal (andidates are providèd wrth various Cha￿ty Commission guidance (including Safeguarding, and the Essenb'al Twstee guida￿) and a copy of the MemomndLJm & Artidès of Assoclation. Following appointsnent, now tnjstees a￿ prowdeil a comprehensivo irKluctlon to the Unltas Youth Zone through the Provision of in hous& training. inductton prcxxs also indude$ 8UPPQrt from Onsidè, who have produced ￿mprehenSive guide for Trustees of Youth Zones. New trustees also participate in comprehensive handover meetings with relevant member5 of Staff. Organisational structuro Unitss Youth Zone is governed by the trustee board whith is responsible for setting the strategic ￿1￿CtIOn of tho organisalron and the policy of the c*arty. The trustees cary the ultimate responsibility for the conduct of the organisalion and for ensuring th* the tharrty satisfies its legal 8nd CDntractual obligatsons. Trustees meet fDrmally six tim&s a y&ar and may del&gatÈ thè implémÈnlabon of thÈ decisions and day-104ay operations of the organisalion to senior management or any employee of the charity.. person or committee as they See f￿. Any jmmtttèe must indude al least one trustee. The trustee board is independent from management. D6eisions are determined by a simpl• m8i(Mity votè. In the caÈÈ ol an •qu8lity of volès the d)8irman of the meets'ng has the casting vote. Page 5 BARNET YOUTH ZONE IA Company Umlted by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 There are currenuy sèven SU￿MM￿￿eS of the Board: Finance Committee,. Delivery Committee.. Health and Safety Committee., Investment Committee., Pay and Remunerntir)n Committèè," Nominations Committee,. anij Fundraising Committee. The first three of these meet approximtety every months.. the Inve81menl ComTnittee and the Fundiaising Commtttge meet quartety,. the Pay and Remuneration Committee m88ts tithc8 a ye8r', thè Nominal'ons Committee meets on an ad hoc basis when there 18 an appointment lo consider. Related par￿eS None of our tru8lep8 r￿1ve rBmunefation or other beneffts from the work with the charity. Any connection betrmeen thè trust8es or senior manager of the tharity a connectsd party lindudlng donors, suppliers. and staff) must be disdosed to the full board of tru8tees in the same way as any other o)ntractual relatsonship with a r*ted party. All related party transa(*ions are disdosed in not• 17 of th8 financAal statement. Pay pollcy The Directors, who are the charrties trustees, and the senior management team and the key management personnd. are In d)arge of direeting and (x)ntrolling, running and Dperaling the charity on a day lo day basis. A directors giv8 Ihelr dme freety and no directors receive remuneration in thè ye8r. Dtttsils of directors, expense$ and r&lat0d paty transactions are disdosed in note 17 of the accounts. The pay of the full $18ff tè8m 18 r&vi&w8d annU￿ly. Staff paid hourty Imoslly sessional staff, bul also cleaning and some reception, faul￿eS and catering stafft are paid the London LNing W￿8 (adjusted each year in April, though this year trustees approved uplifung sessional pay four months early to support stsff through the cu81- of-living cll8181. It Is the aim of Unitss that salaried staff wll r￿1Ve an annual pay rise lo take account Df cost E)f living iner88sé8, bth d8pending on the finanoal health of the organisation this wnay not a￿ayS be possible. Other pay increases are for changes of rde or responsibilitie5. The directors ben¢hmath againsl Dlher similar GharrlieB in the voluntary sector as well as across all tha Youth Zone neh¥ork. All changes to pay and remuneration aro formally approved by tho Pay and Remuneration Committee. Rlsk managoment The trustees have (￿￿dered the mai(K risks to whth th8 charity is exposed. A new org8ni5atlonal Risk Register was adopted in Flarth 2022 and each identffied risk is assessed every gix months by either the Board or a sub-committee. Day4&day risk management is delegated to the Chief Executive and senior leadership tèam. Key fijndraising risks include the reliance on our Founder Patwns for a large prDporb'on of our income", this is mrfcigated by earefully-planned stewardship and by inueasing diversification of our income streams. The appointment in January 2023 Df both a Head of Fundmising and a Gtynts and Twsts Fundraiser has been in)port8nl in this respect. Finalty. a Financial Due DilNJence poliGy was approvèd in March 2022 to ensure that any future large donab"on3, e5pecyally I￿rn fvrKling 8QUff*8 not know to Unitas. are properfy inve8tigalÈd bèftsre being ac£epted. ACHIEVEMENT AND PERFORMANCE Char5table Activitlès The key ¢haritabk a¢tivty of Unitas Youth Zone is our da1￿ sessional provis￿. This y8ar wo were open seven days a week throughout the year. Each week. we run three sessions {12 hours in tot811 for Juniors lage &12 years old), five sessions127 hours in totsll for Seniors lage 1>19 years old and up to 25 for those with additional needs) and one session {four hours in lotsll s(AÈty for young pèople wtth additional needs lage 8-251 and Ihelr parentslcarers. This 43 hour 3 week core provision lov8r 2.000 hours a yearl is supplemenlgd by extra daytime 8e8510ris the 13 w*ks a year of school holidays - in 2022r23. this amounted to an extra 572 hours. The￿f0rÈ Unitas, youth provision, amounted to more than 2,500 hours during 2022123. (For comparison, most schools in the UK are open f¢r young peoF)le for doser to 1,500 h￿r$ a year.) With the exceptioTrn of the day of HM The Queen's funer81 in September 2022, staff training days and one staff training week and four days al Christmas, Unitas Youth ZO￿ was open for young people every single other day ¢f the yeai. Our Holiday Club is both well-attended and afford3Ne. A young peison (3n attend from 8am-3pm for £10 a day, or until 8pm for just £5 extra". this is belween 8 half and Iwo-thirds cheaper than similar Comme￿Ial provisions, Page 6 BARNET YOUTH ZONE {A Company Umitèd by Guarants•) TRUSTEES. REPORT ICONTINLIEDI FOR THE YEAR ENDED 31 MARCH 2023 Our longgr hours espe¢ially help worknng parent5. This yearwe beneffted from two granlB sp8cifically for Holiday Club. Firstly, eurberry gave fijnds to SUPFx¥I an arts and enterprise actswty on Holiday Club for our Sanior members. Seojndly, the govèrnm8nYs Hdiday Acthvty Fund Iknown locally as BACEI provided hundreds of young people who qualify for fre8 schod meals with many week5 of Holiday Club at no th8rg& al all. As the effects ofthe pandemic re￿￿ed. our overall attendan¢xs grgw ￿nsIderablY. In the last finanu81 yo8r, we received just under 32,DfK) visit$ and in Ihis finanoal year ihat grew to over 50.000, an inLYease ol almost 60VD. This also means th81 w8 hit our target. Set last year. of re￿rdIng over 50,000 visits. By the $nd of the year, we re regularly recording over 1,000 visits a week and there is rarely a $e8$KJn ￿th f8wer than 100 young people in attendance. We are by some dIStan￿ the largest universal youth provision in th8 borough and indeed in North London. We are mindfijl of our place in the local communty as w811. W• offer our spacE forfree or al muthreduced rent during the day lo loral wmmunity groups.. lfvs year, we hosted an Age UK walking group, local f8milie8 who are home-school￿ng thoir children, an amazing earty years provision called Bab￿one. an organisation that work8 with 8dulls who arè 18aming4isabled. mentoring and tutoring for young people who slruggle at school, two Alternative Prowsions and we act 88 a ¢onts¢* (*ntre lor parents WI￿ aro dIvo￿d or Separated to spond tim6 wfth their chilolren. Unitas, volunteers are some of our most c¥Jmmilted O￿leagueS. They bring their tslenls, expertise and energy to the organi5alion w(thoul asking an￿hing In rntum. Our Trustees oveTsee our govemance and so much more be5ide5. and we cannot thank th8m en￿gh. In additFon, by the end of the finanryal year wo had 16 regular volunteers, contributing hundreds of hours a week of their time across the whol8 spectrum of the Youth Zone'8 Operati￿S. Every year we rwnise one volunteer who has truly gone 'abDve and beyDnd', and for 2022 this was Teri Young. Over the year. the finonoal saving for Unrtas from volunleeTing is more than £25.000 a year. FIN￿CIAL REVIEW Summary flnan¢lal Mvlew As wè emerged from the pandemic. 2022123 was the first fvll year foi the charity running * fijll capac4ty, 8eeirKJ an increase of 60% of overall attèndants by young people. This was rellected in the financial perfom8nce of the Youth Zone, wth income increasing by 9% to £1.423,958 from £1,312.31812021-221 and a decrease 0127% in the unrestricted reserves to £1,141.063 from £1.559.213. Despite tt)e challenging fundraising dimate. the tharity continued to remain agile, engage patrons and continues lo diversify income th￿Ugh new stream8 of income such as a new online crowdfvnding furtdraising (gmpaign ag well as a ￿neWed focus on Trusts. Grants and Foundations. A summ8ry of th& income and expenditsJTe forthe year ended 31 MarrA) 2023 is as follow8.. Unrestricted Restricied Total Total Funds Funds Funds Funds 2022-23 2022-23 2022-23 2021-22 Total I￿oMe Total Expenditure Net Incomel{Expendtture) Transfer between Funds Net movementin Funds Tot￿ Funds Carried Forward 1,372,072 51,886 1,423,958 1.312,318 2.003,425 1C6,897 2,110.322 1,689,891 (631,353) {55,011) {686,364} (377.573) 213,203 1213,203) 418,150) 1268,214} 1686.364 1377.573 1,141,063 5,797,153 6,938,216 7,624,580 Page 7 BARNEf YOUTH ZONE {A Company LIMIt￿ by Guarnnt••l TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 PIARCH 2023 Due to the effects of high inflalion. as ￿11 a5 broader economic uncert8inty that affects our donors, ability 1¢ give. the Trustees considered 11 prudent to reduce Unitas. ￿st base as th& Organisatic￿ enter3 the 2023124 financial year. As a result, in March 2023, Unitss, staffing structure was reorganised with th￿e positions madg redundant 8nd others havin9 reduced hours. This was a Challengi￿ Pro￿S5 lor the organisation but necessary in order to ensure the financial sustainabilrty of the charty. A balatK¥d budget was approved by the Trustees in March 2023 for the 2023r24 financial year and an incxeased investsn8nt in fundraising should ensure that income targets are mol. Funding for the ongoing operating costs of the YOU￿ Zone is primarily derfved from Founder Patrons who typically plèdge 3 or 4 years of ftjnding and wè communicate this key pool of donors on a regular basis to ensure they are Infomed and engaged as to the impact of the Charity. Other potential supportors arg r¢gulaYty Sought and engaged wth and. along wth Grants and Trusts. venue hi￿ and digital bjndraising, are income areas that will be developed over the coming year to support the Charity to diversify its income portfolio. Oth8r income is derived from young mèmbgrship fèas, s£S￿on fees and café sales where pricing Is allgned wlth the Onside Youlh Zone Nefv40rk Agreement lo ensure affordability for young peoplp. Investment powers and pollcy Under the memorandum and artsc4es of aswation, the charitable company ha8 the pow8r lo make any investment which tha Trustees see fil. Investrnents are made there required to further the aims and objectives of the Charity. As of 31 March 2023, the Charity doès not oJrr8ntty hold any investments other than cash on dep08il with Handelsbanken pl¢: though a decisi￿ to invest part of our reserve w88 laken by Trustees In May 2023, after the gnd ol thi$ finanaal year. Rese￿e$ pollcy .In order lo ensure continl￿d sUst￿nabl1￿y. Unitas has reserves. Free Te6eNes at tho yoar end as dis¢losed in note 18 v4ere £991.Cé3. The majority of the free reserves are hèld as cash in two bank accounts held with Handelsbanken - the majority of r38h 18 in the -revenue" account1£1,146,239 as of 31 March 20231, wlh smaller amount in thè 'capita account1£5,049 as of 31 Plarch 2023). £150,000 of Unrt8S' ￿serves has been formally designated by Trustees for the upkeep of the building. A fvrther cash Sum of £450,000 is prowsionally oam)arked for investment wrth an investment manager. The invesim8nt strategy will be conservative and focused on preservation of value against Infiat￿n as opposed lo genernb'ng a h￿b levèl of relum. Any rètLJm wll be reinve8ted into thè fund and as sud) I(￿ Ihe fir$1 few years Unitas does not anticipale it making a contribution lo day-lo-day running costs. As 0131 March 2023. an Inve8bnent Pdiw ha& l)een approved by the Trustees bul no funds have yel been inve8ted. Due 1¢ the natu￿ of Unitss. acb"vitie$. with relativety high fixed costs and income depend8nt on donations, the TNslee$ consider kn figures when determining rf the charity holds sufficient r¢serves. The first is six months. operating expenditure as per the agreed tr￿dget for thè forthcoming financAal year. For 2023124, after spending cuts were impleTVTenled follthng the large defiot recorded in 2022123. this is approxim8lely £700.000150% of an agreed expenditure budget of £1.4ml. The second is six months, operating expenditure as per thè budg&l rf the cha￿ty was operating at its knll capaaty. For 2023r24, this is approximaloly £925,000 (50% of a fvll operating model budget of £1.85ml. AS 3ud). the Trustèes arÈ (x￿fident that the charity done have suffKienl resetv&s as per its policy. Golng ¢on¢em Ther¢ a￿ a number of possible chdleTrJe$ to Unit89' abilty to c*)ntinue as a goiThJ concern, and the Trustees have carefully considered them all as part of Ihe overall risk management approach. Unila8 has a Risk Regi51er that is updated annually and Bonsidergd by Mar￿gement and by Trustee committees regularfy. On the income side, the prirnary 50urce$ of ftjnds are don8tion$ fr(￿ the public (especially major donors} and income derNed from young people (membership, entrancè feès, café and tuck shop incDme elcl. The fonrer is significant larger- by a factor of ten- than the Lgtter. The Trustee5 have ensured th81811 major donors are regularfy cont8Cted, that any d8crnase in their gNing is flagged up as far in advan(t a8 possible, and that all grft aid that can be claimed back on their donats.ons is. Sen8itwty checks arg regularly run to see the effect of Page B BARNET YOUTH ZONE IA Company Llmlt8d by Guarnnt••l TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 MARCH 2023 losing any partlcular donor. No orE donor gives morn than 7% of our totsl incxmne and our FouNler Patron commitment is over thre¢ years, $0 we have plenty of lead-in time in order to seryjre a renewal. We alsD artively seek new donors through axpanding our e￿$ting ne￿Ork, Teaching out to potential ¢orporale partners and increasing￿ rUnn1r￿ events. In terms of income frorn young Fw)le. this ¢xme in al or slightly above budget. In tern￿ of expenditure, all spending is Signed off by the Chief ExwJtiv8 land. if over £S.000, a Twsla81. A etailed tMJdgel for the year was apwv8d by Tftjstèes in March 2022. Monthly Management Accounts ensure that spending 18 on track and if not, the relevant department can be questioned about rfc. Contingency budgets exist for unexperted expendiiure. PayTolI- the krge5t single item of exp9n¢Jrturg by far- is (*refully s¢rutini88d èvery month and new posicions are only ever added wrth Ihe approval of the Chief Executiv&. Th8 Finance Committee also monitors spending and holds th& profes8iun81 Staff lo account. Adequate insurance cover is also In placg. Whilst il is never possible to be cgrtaln of the fU￿re, lo date the Trustees consider that the st8ps taken are sufflatrnt to classify the charity a5 a going CA)ncem and a￿ ￿nffident in the Youth Zone's ability to meet it8 obligation5 ftir the corning financial year. Prfnclpal fundlng sources land fundralslng stat•m•ntl Unlta8 Is truly fortunate lo have the support of a group of Foundér Patron8. These 8rÈ indiwdua15 and ￿rpOrate partners who ore wiling and able lo give al least £25.000 a year for thr88 years. Th888 provide Ihe backbone Df our fvndraising campaign and our dose re18tionship wiy) them is key to our continued fundraising success. We 818r) receive finarrial support from some trusts and foundations (often for a speLific piece of largeled workl, from local community groLJP$ who fundraise on OUT beha￿ and of indivKluals who giv$ smallgr amounts erther ￿9vI￿rty ot through one-off giving. For a charity of Unitas, size. our fundraising cLJsts ar& low by industry standards and the relum on investment. high.. this ensLtras that UnitAs rÈmain$ an attractive prospect for donors. We ran a very sU￿95Sful crowdfvnding campaign in November 2022, whith beat our eXp￿tiOnS In temi$ of funds raised and involv8d almast 700 indimdual donors giving to Unitas. most for the very first bme. Unitss Youth Zone seeks lo adhere to cod6s laKI down by the Fundraising Regulator and has re￿Ived zero plaint5 regarding our practice3. We do not Use 3rd party services to support our fundraising adivrty. We provide Ong￿ng training and support for our fundraisers lo ensure that individuals are engaged respectfully and wtth integrity. We do not embark upon mass fundraising ¢amp8ign$. eAld Calling or street based collection¥. PLANS FOR FUTURE PERIODS Work on an organisaional strategy for 202&2026 took pla￿ from January-march 2023 and il was approved by Trustees in May 2023. 11 iLlentiffies six areas for strategi¢ development. Diverse. creative and inclusive youth work offer in a safe. high-quality faulty- we will slrengthon our provision wth a greater focus on partnerships wrth local arts, sports and youth work organisations., create a transition programme from Juniors lo Seniors". 51rerigthen our Limrtle8s lindusionl offer,. focus heavily on improvlrvJ the rato of female partiry"pation on Seniors., establish Unitas as an Amateur Boxing Club., and begin a $at•llite pr¢vision elsewhere in the BoroLuh 21 Clear, vibrant brand and strong local reputab"on- we wll18unth a new website,. expand CWT soual media presence,. ￿llIVate relationships with the local press, rè-esl3bli8h a local resklents, forum; invite local dignilaries to all of our events- and build strong professional-trtrprofesstonal links with Bamel Counryl Increased and diver5iffied fundraising- expand OUT fvndraising team,. fO￿lS on the acquisition of new donor5 al the mi¢& to high-value levels-, devek)p a strategy for corporale partnèrships," create a giving club,. Tun annual donor recognib.on events., get commissioned by rnaior publiG se(*or bodies lo deliver specific str&ams of work.. introdu¢e payr￿1 giwng., run a second crowdfunding ¢ampaign in 2024125 Page S BARNET YOLITH ZONE (A Company Llmltèd by Guarantee) TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 4} Recruilmerb( retention and upskilling of passionate staff and volunteers- we will ctsale a leadership trBining progr3mmo for sessional statr, create a new layer of addrfaonal ￿sponsI￿￿11ty roles that bridg8 the g8p b8twe8n th8 ses￿onal and salaried teams,. double our number of ath.ve viAunleers', and create staff values awards 5} cOh￿Ve and dynam1¢ teams with effethve leadership- we wll do regular ski118 audits Df our Board.. run an annual Away Day., effeckn'vdy su(￿sSio￿lan all Boartl posthtsns.. mn annual high-quality linè managem￿1 training", provide thè S￿l¢r Leadèrship Team with coathing.. slrengthen departmentrdl taam idenlilies.. establish a system of Deputy Club Leads,. implement an improved annual appraisal system: and cr¢ato a Culuro of feedback ac￿SS the **ole organiyation 81 Continual fo¢u8 on y¢xJng peoth'$ ￿trds, voice and potenlkal- we will use the 2021 cen8us and othor data to bettér understand Dur local population., have an annual calendar of events and activities Ihal showcases the ri¢h diveNty of our members.. invest significanuy in mental héalth and wellbeing training for $taff', strengthen our youth voice wtih revamped United Youth groups,. have at kast Ihree Young L&adetB cohorts running each year,. and appoint a Tru$lo0 who is an ex-member PUBLIC BENEFIT AND VOLUNTEERS. CONTRIBUTIOM Publlc Benefit I th8 activities of the Charity las summarised at&)ve} were undortaken to further its charitable purposes for public benefft. The provision C*f a high qu8lrty borough wide ¢sntre faolity for young people responds to a cle8r, on%oing demand from young Peo￿•. par8nts and wder communities for more and better places for young people to go. Arthough providing a service to all young people. Unitas Youth Zone wll fows on attendance and pthcipation by young members of disadvantaged communib.es who wlll be able to enjoy affordable access to all the opportunities that th& f8cilItl95 wi11 wothde. This wll lead to improved achievements and ènh8nced aspirations amongst yr)ung mèmbers of the local communily. They wll be happier, healthier and make more constructive use of the leisure lime whith consequenty wll hèlp redLJCA nuisanc8 and anti social behaviwr. Long&r term public benefits will Ir￿ude improved heath. redu¢%d crime, enhanced l&aming and employability and greater community cohesion. The Twstees have complied with the dL¢ty in 8e¢*on 17 ofthe Chaiibes A(12011 to havg due regard lo the public benefit guidance pukAished by the Charity Commission. Volunte•rÉ Throughout the period all members of the Board of Twsteeg have made invaluable vgluntary contributions lo the Charity's work in terns of govemance, prof￿0￿￿ and bu%nèss exp8iiènc8, financial planning. fundraising and leading initiative8. Such contn.bUt￿ns were, on average. equal ID one fvll day per calendar m¢nth. We also, as mentioned abovè, bènefit en0mKyJ￿Y from the support of other volunteers a5 well. TRUSTEES, RESPONSIBILITIES IN RELATION TO FINANCIAL STATEMENTS Thè Tru$leeg Iwhts 8m algo the Direclors of Barnel Youth Zone for the purpose of comp8ny lawl are responsible for preparing the Trustees, Annual Report and the financi81 stslements in ac¢ordan¢e wth applicable law and UnilEd Klng¢Jcwm A￿Ounti￿ Standards (Untted Kingdom Generally Aceepted A(minting Praclicel. Company law requlTrs the Trustees to prepare financial statements for eath financial year, which give a tru8 and frdif of the stale of affairs of the charitable company and of the income and expènditure, of th? Charitable company for Ihal period. In preparing these financ481 statemènts. th8 Tmstées aro required to.. select suitable 8ccounting polioes and then apply Ihem consistentty. observe the methods and prinaples in the Charities SORP. make judgements and estimates that are reasonable and prudent stale whether ap ￿lcable UK A¢xx)untsrvJ Standards have been followed, sut4.ect to any material departure8 Page 10 BARNET YOUTH ZONE IA Company LlmMed by Guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 dI8d0￿ and eX￿aIned in the ffinancaal statements. prépare thè financi81 statements on the g￿rng basis untess rt is inappropriate to presume that the charitsble company will conUnuo in bu￿￿esS. The Tru8tee8 are responyible tsr keeping adequate a¢)￿Unting records that disclose wlh reasonable arxuracy at any timè the financial po$itic*) of the eharitable company and enable them to ensure that the financial statements comply wlth the Companies Act 2006. They are also ruswsible for safeguarding the assets of th charitable company and hence are taknng reasonablg steps for thg pr8vention 8nd detèction of fou¢J and other irregularilies. STATEMENT ASTO DISCLOSURE TO OURAUDrroRS The Truslees confinn that so far as they are avare. there is no rdevant audit infomwtion for whth the CharIt￿S auditors are unawar&. Thè Tfusteès havè taken all the sty that Ihtty ought lo have taken as Trustees in order lo make themselves aware of any ￿leVant audit infomiation and lo establish that the Charity's auditors are awarè of tt)81 infomab'on. AUD￿oR8 Crowe U.K. LLP weffj apwnted as auditors in the year. A re501ubon lo reappoint Crowe U.K LLP wll be proposed at the Annual General Meeting. Approved Ist Septe the members of the board signed on their behalf by.. Trustèès on ber 023 K Black Trustee Page 11 BARN￿ YOUTH ZONE (A Company Umlt•d by Gu•rnntee} INDEPENDENT AUD￿OR.8 REPORT TO THE MEMBERS OF BARNET YOUTH ZONE Oplnlon We have audited the financAal statements of Bamet Youth Zone (the 'chariVI for the year ended 31 March 2023 which comprise the Sl8tement of Financi81 Activthes, the Balan￿ Str￿et, thg Slalement of Cash Flows and the r819￿ notss, induding a summary of signfficant accoLEnting policies. The financial reporting framework that has been applied in their preparation is appltcable law and United ￿ng￿or￿ Acc4)unting SlandardÈ, induding Financ4al Reporting Standard 102 The Finan¢ial Reportsng Standard applicablo in the UK and Republio of Irgland, Iunlled Kingdom Gonemlty A¢coptgd Accounting Pradce). In our opinion the financial statements.. give a true and fair view of the State of the d)aritsblè ￿mpanY$ affair8 a8 at 31 March 2023 and of its incoming resource5 and aptdicab'on of resour￿. induding its income and expendibjre for the year thèn ended- have been properfy prepared in acc4JrdarKe WTih Unrted Kingdom Generalty AcL*Pted Aco)unting Pra¢ts¢e,' and have been prepared in ar£Ordan￿ wrth the requirements of the CoMpan￿S Ac* 21YJ6. Ba81s for oplnlon WÈ eAnduct•d our audit in accord8ne8 th Int8mational Stsndards on Al￿1￿n9 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are fjJrther described in the Auditorfs responsibilitie$ for the audit of the financ4al statement5 seo*ion of our report. We are independent of the charilaNe company in 3co)rdanc8 with the othical r¢quir¢ments thai are relevant lo our audrt of the fjnancial statements in the United Kingdom, including the Financial ReportiThJ cc￿n￿1,S Ethical Standard, and we have fU￿illed our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we ha￿ obtain9d ts sufflaenl and appropriate to provide a basis for our opinK)n. Concluslons relatlng to golng concern In auditing the financial ststernents. we have o)ndLhJed that 1he Trustees, use of the going ￿nCOM basi8 of ac¢cMJnling in the p￿paration of the finanual 8tstements is apprormate. Based on the work we have performed. we have not identified any matedal uncertaintiès relating to éV8nts or (x)nditions thal. in(fvidualty or collethvety, may cast &gntfKant éoubt On the charital￿e t￿MpanIS ability lo continue as a going ¢on¢om fot a period of at bast twelve mgnths from when the finarKial statements are authorised for issue. Our responsibilities and the responsibiltbes of th8 Trustees with r8sped to going concem ore described in the relevant sec*i¢)ns of this report. Pag@ 12 BARNET YOUTH ZONE (A Company Llmltgd by Guarant•e} INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BARNET YOUTH ZONE ICONTINUEDI other Inforniatlon The other information comprises the informabon Ind￿ in the Annual Report other than the finan￿al Statements and our Auditorfs Report ItEreon. The Trustees are responsible for the other inforTn31ion Contsined ithin the Annual Report. Our OFNnion on the fin8naal ststements does not cover the infonnalion and, except to the extent ¢>the￿iSe explNtly stated in our ￿rA￿t, we do not express any form r&f assurance condusion thereon. Our responsibility is to read the other infornation and, in doing so, consider whether the other information is materially inoxjnsistent ￿ the financyal statements or ￿￿r k￿￿edge obtained in the Course of th6 audit, or otherwise appears to be m8teri8lly misstated. If ￿entsfy Such material inconsislenoes or apparent material misstat8m6nts, wa ar8 r8quired to detèmiin• wh*th•r this giv•s risè to a material misstatement in the rinancial statements themselve5. If, based on Ihe work we have performed. we condude that there is a material mi551atement of thi5 other information. we are rth]uired to reP￿L that facL We have nothing lo report in this regard. Opinion on other matters prescrib8d by the Companles 2006 In our O￿niOn. bas8d on the work undertaken in the c4Jurse of th8 audtr. the infomialion given in the Trustees, Report for the finanoal year for wh￿h the finanaal stslemenls are prepared is consi51ent with the financial 5tatsmenls. the Trustees, Report has been prepared in acaxrdance with apyicable legal requirement8. Mattars on whlch wa ar8 Toqulrad to report by exceptlon In the Ilghl of our knts￿dgè and understanding of the d)arttable wnpany its environment obtain8d in the o)urse ofthe audit, we have not identified material misslate￿nIS in the Trustees, Report. We have nothing to ￿port In respecl of the following mattors in Idation to which Companies Act 2006 requires us lo report to you if, in our opinion.. adequate acwunling reDNds have not been kept. or rebjms adequate for our audit have not been received from branches not Visited by us- or the financial statements are not in agreement with Ihe a￿oUntIng records and rthrns., or certain disclosur•s Df Trust8Ès' rèmumration s￿ofi￿d by law are not made", or we have not received all the inf0m￿ts'0n and explanations we require for our audiL Responslbllltles of tru$tws A8 explained morè fully in thè Tru8tèes' Rèwnsibilthes Statèmènt, thè Tntstè8s (who ar8 also the directors of the chaiitatrte company for the purposes of company lawl are responsible for the prepardlion of the financ4al statements and for being satisfied that they give a true and fair view. and for such intemal control as the Trustees determine is necessary to enabte the preparation of financial 3tsternents that are froe from material misslalement, whether due to fraud or error. In preparing the financial slatemenls, the Trustees are responsible for asse55ing the charitable company'8 ability to continue as a going concern. disclo￿ng. as applicab￿, matters related to going concem and using the going concern b8818 of 8¢￿Unting unless the Trust80s erthef intend to liwidat8 th8 ¢harrtai￿fr company or to ￿ase opÈrdtion$, or havè no r8alistic attémative but to do so. Page 13 BARNET YOUTH ZONE {A Company Llmlted by Guaranteè) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BARNET YOUTH ZONE ICONTINUEDI Audltorf8 responslbllltles for the audll of the financlal statements Our objectives are lo obtain reasonable assuranc8 about whether the finarrial statements as a whole are free from material misstatement, whether due to fraud or error. and to i85ue an Audrtorfs Rwrt that indudes our opinion. R¢asonable assurance is a high kvel of assuran￿, but is not a guarantè& that an audit conducted in accordance with ISAS (UK) will aNvays dete(* 8 matedal misslatement when il exists. Misstatemènts can arise from fraud Qr error and a￿ considèréd material if. indiwdually or in the aggregate, they could réasonably be expected lo ItffluencA th8 economic dec48ions of u8Ws tsken on the ba8is of th&$0 finanoal statement8. Irregularities, includlng fraud, are instsnces of nOrK0m￿1an￿ with laws and ￿gulatIOn3. We dgslgn procedure5 in line vlth our rewnsibilitie$, OLrtlined above, to delwA materfal mi88talemènts in respect of irregUlant￿$, including fraud. The extent lo which c)ur pn)cemplying with th8 requirements of the Act with respect to accounting records and PTeparaliiJfi of finanryal statements. The financial statem8nts were approved and authoriwj for issue by the Trustees on 1st September 2023 and &gned r)n their behalf by.. K Black (Chair The note9 ¢ pa of ihese fin8n¢a81 statemenfs. Page 17 BARNET YOUTH ZONE IA Company Limited by Guarantsel STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flows from operatlng activltles Net cagh usgd in op¢mlng a¢bvths 1550.358} (228,940) Cash flows from Investlng act1vl￿o6 Dividends. interests and rents from investments Pm¢eed8 from the 881e oftsngiblo fixed assgts Purchase of Intsngible assets 5.843 725 835 19.7771 (67,6631 Net cash usod In Invo$tlng a¢tlvlllg$ 13,2091 166,8281 Cash flow$ from flnan¢lng a¢tlvltl•$ Nat cash provlded by flnanclng actfvhles Change In cash and cash equivalerrt8 in the year Cagh and cash equivaknt5 at the beginning ofthe year 1553.5671 1,701125 1293,7681 1.998,893 C•8h and ¢ash equlvalents at thè 8nd ofth8 year 1,151,558 1, 705, 125 The notos on pages 19 to 35 forni part of these financ4al statements Page 18 BARN￿ YOUTH ZONE (A Company Umlt8d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2023 General Informatlon Bamel Youth Zone is a chaTitsble company limlted by guarantee. incorporated in England and Wa185. The registered a[￿re$S Can be found on the Referen￿ and AdminslraUve Information paue. Accountlng policlos 2.1 8a$l$ of preparatton of flnanclal stat•m•nts The financial statements have been prepa￿d in accnrdance with the Charibes SORP IFRS 1021- Acwunting and Reporting by Ch8nb"e$.' Statement of Recommended Pradic& applicable to tharili88 preparing their ae¢ounts in accordan￿ wlh the Financial Reporting Standard applicable in Ihg UK and Republic Df Ireland IFRS 1021 leffective 1 January 20191, the Finan￿81 Rèpothng Standard applicable In the UK and Republic of Iretand IFRS 102} and the Companies Aci 21)06. Bamel Youth 2¢nè mè8ts the deffinition of a public Ixnefit enlty under FRS 102. Assets and liabilities are initially ￿COgnIsed at historical cost ar tran3a¢tw Val￿ unless otheMi8e stated in the relevant acgourting policy. 22 Golng COn￿M The Trustee's assessment is that th8r& are SLfficient fvnd8 lo maintsin operatic*n¥ for at teast tho next 12 months. This is based on the level of the Chantys unrestricted reserves, which are in excess of 12 months, worth of expenditure. Fundraising netsyorks continue lo be developed and the nature ef operations are such that the cost base ¢an be managed should therè be a sudden drop in income. Based on the abovè. the Truslees consider the CharTty to bo a going CA]n￿rn 2.3 Income All income 18 ￿e0gnIsed On￿ the Charity has enliuemenl to thè income, it Is pri>bablo that the incom8 will b8 r￿alVed and Ihe amount of in(y)me receivable can be mèasurèd rèliably. Grants are included in the Ststement of FInar￿laY Artiwb"e$ on a re¢eivable basis. The balanee of income recwved for specific purposes but not expendèd during the period 15 shown in the relevant funds on the Balanc8 Sheet. Where Income is received in advance of enlillèment of receipt, it8 rectyJnition is deferred and induded in cr&ditors as deferred income. Where entitlement c¢curs 8for8 income is received. the in¢ome is accrued. Income tax recOver￿e in relation to inVOStmenl income is recogni8ed 81 the time the investrnenl irKomg is receivable. other income is re(y)gnised in Ihe Feriod in whlch it is rec*vabl& and lo 1he extent the goods have been provided or on completion of the servi￿. Page 19 BARNET YOUTH ZONE {A Company Limbted by Guararrteel NOTES TO THE FINANCEAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles {contlnuod} 2.4 Exponditur• Expenditure 15 recrfjniBed once there is a leg31 OT CDllstructiVg oblvJalion to Iransfer economic benefft to a thlrd party, tt is probable that a transfer of 8conomic b8n&fits will ￿ required in settlernenl and the amount of the obligation can be Measu￿ reliably. Expenditure is dassified by 8Ctivity. The Costs ol each activity are made up of the total of dire(# costs and shared ￿$18, induding support costs inVo￿ed In undertaking each acbwty. Direct wsts attributablo lo a single adiwty are allocated directly tri that 8Ctivty. Shar8d costs which contribute to more than one act]￿lty and support coTrsts wh￿h are not attributable lo a single aci'mty are apportioned be￿een those activities on a b8818 ￿nsistent with the use of resource5. Central staff costs arè allocated on the bas18 of time 8pent, and depreciation (*arges allocalwj on Ihe of the assoys use. Expenditure on raiFAng fijnds indudes all expendrture incurred by the ChaTily to raisg funds for its charitable purpose8 arKJ indu(les ￿Sts of all fvndraising activitiès 8v8nts and non-charitable trading. Expenditure on charitable activitres is inryjrred on dIre￿Y undertaking the actmties whth fvrth8r th8 Charitys obl￿tives, as well as any associated 8UPPOrt costs. l expendrture is Indu￿Ve of irreo)veTabie VAT. 2.5 Interest recelvable Interest on funds held on deposit Is induded when receivable and the amount I￿n be m0asuf¢d reliably by the Charity: this is nom1alty upon notrfication of Ihe interest paid or payable by the in8titut.on with whom Ihe arv d￿￿1¢{1. 2.6 Tanglble fixed assels and depre¢latlon Tangl￿e fixed assets cosbng £500 or more are Ca￿liSed and reo)gnised Trthen futu￿ e¢0￿MIC b8n&￿t$ are probablg and the cost or value of the asset can be measured reliably. TangiNe fixed assets are intbalty rÈrrrfJftised 8t cx)st. Aftèr rocognitM)n, under the cost model, tangible fixed assets are measure(1 al cost less awimulated depreciation and any accumulated Impairment losses. All costs In￿rred to bring a langible fixed asset into 115 iTrtended working ¢ondrtion should b8 induded in the MeaSure￿￿rit of rxsl. Depreaabon is Charged $0 as to allocate Ihe cost of tsngible fixed assets less their ￿Sidual value over their ostimated usefijl lives. . Depre¢iatlon is pmided on the folkxtyng basss". Leasehold Property Motor vehldes Fixtures and fittings Computer equiwnent over the period to whith the lease relates 33% straight line 33% straight line 33% straight lin8 2.7 Dgbtors Trade and other debloT5 are recognised at the settlement amount aftèr any trade discount offered. Prepayments artr valu¢d al the amount prepaid net of any trade discounts due. Page 20 BARNET YOUTH ZONE {A Company Umlted by Guarnnl¥¥l NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcies Icontlnuedl 2.8 Cash at bank and In hand Cash at bank and in hand Indudes cash and short-lerm highty liquid investrnenls with a short matur'ty csf three month$ or loss from the d*e of ac¥4ui$ition or opening of the deposit or similar account. 2.9 Llabllldes and provlstons Liabilities are reD)gnised when there is an obligation al the Balance Sheet dale as a result of a past event, it IB probable that a transfer ol economic beneff( Trhill be required in 5ettlem8nt, and the amount of thè géttlèmènt can be e$tim8ted reliably. Liabililies are recognised at the amount that Ihe Charity antiapates il wll pay to 5etUe the dabt or the amourt it has r￿e1¥￿1 as advanced pa￿eTrts forthe grJod5 or 8P1VI￿5 rt must provide. Prowsions are measured at the best est'mate of th8 amounts required to settle the obligation. Whe the effect of the time value of money is material. the prowslon iy baged on the present valuè of th058 amounts. Qis¢XUlrted al the pte-lax dis(x)unt rate that mflects the risks spe¢ifi¢ lo the liability. The unwnding of the discount Is recy)gnisod in ￿ St*¢ment of Financial as a finance o)5t. 2.10 Financial in$trumonts The Charity only has financaal assets and financ4al liabilities of a kind that qualify as ba%c finanryal instruments. Ba8ic fsnancial instruments are initially recognised al tran8action value and subsequenuy measurèd at thèir sÈtUèment V81uè with th& èxcw.on of bank loans which are subsequenuy measured at amorbseil cost using the effective interest method. 2.11 Penslo The Charity operates a defined contritjution Fension scheme and the pens￿ tharge represents the amounts paYa￿e by the Charrty to the fund in respect of the year. 2.12 Fund aceounllng General funds aTe unrestricted fvnds whith are available for use at the dlscretlon ol the Trustèes in ftsrthtsrance of the general ot4e(aNes of the Charity and whith have not been designated for Dther purposgs. Designated ftjnds comprise unrestrided fiJnd5 that have been set aside ty the Trustees for parb¢ular purposes. The aim and use of ea(* de￿gnat￿l fund is Sel out in tha notes to the finan￿81 statements. Restricted funds are fvnds whith are to be used in accordanee vriih specific reslri¢tion8 imposed by donors or whith have been r3ised by the Charity for paiticular purposes. The costs of raising and administering suth funds are charged against the specrfK fvnd. Tho aim and use of each restricted fu￿1 is set out in the not6s to th8 financial statements. Investrnent In￿rne. gains and bsses are alhxated to the ap[￿priate fund. Page 21 BARN￿ YOUTH ZONE IA Company Umlted by Guarnntoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Crltleal accountlng oStlmat8s and areas of Judgment Estimates and judgments are ￿ntinUAllY avaluated And are based on historical eXperf8n￿ and other factors, indudin9 expectab'orbS of future events that are believad lo bè reasonable under th& ryrcunL8tsnce$. Critical aw)unting estima18S and assumptions.. The Trustees have deterniined that this year there are no $lgnff￿I estimatas orludge￿￿n15, InMme from donatlons and legacl•$ Unr•$trf¢ted Restrloted fund$ funds 2023 2023 Totsl funds 2023 Donations and Grants 1.221.353 51,886 1.273,239 Unrostricled fvnds 2022 Restiy¢ted funds 2022 Tolal funds 2022 Donations and Grants q.124,547 93,804 1,278, 151 In¢orn¢ from charltable actiwti Unrestrlcted funds 2023 Total fijnds 2023 Young People 64,209 64,209 Unreslrided funds 2022 Total funds 2022 Young People 43,081 43,087 Page 22 BARNET YOUTH ZONE (A Company Llmited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Income from oth&rtr8dlny a¢tlvMas Income from non charitable tradlng acllvltles Unr•strl¢tsd funds 2023 Total fLJnds 2023 Sale of Good8 1,359 1,359 Unrestricted funds 2022 Tot&1 funGIs 2022 Sale of Gcod$ 565 565 Inv9Stmgnt Income Unrestrlctod funds 2023 Total nd8 2023 Bank Interest 5.843 5,843 UnTrslri¢ted funds 2Q22 Total 2022 Bank Interest 835 835 Page 23 BARNET YOUTH ZONE (A Company Llmlted by Guarant¢•l NOTES TO THE FINANCL6L STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 crther Incomlng r¢sour¢os Unr•strl¢t9d funds 2023 Totsl fund$ 2023 Catering Income RoomlFacilty Hire 52,321 26,987 52,321 26,987 79,308 79.308 Unrestiicted funds 2022 Total funds 2022 Cataring Income CJRS Income RoomlFacility Hire 40.824 40,824 3,484 5,378 5,378 49,686 49,686 Expondlture on ralslng funds Costs of ralslng voluntary in¢omo Unre6tslct8d fvnds 2023 Totsl funds 2023 Fundraising Costs 6,230 6.230 Page 24 BARNET YOUTH ZONE (Acompany Umlt8d by Guarantoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2023 Ex￿ndIture on ralBlng funds Icon15nuedl Costs of r#l$lng voluntary Income l¢ontlnuo UnTr$lriclgd fvnds 2022 Total fvnds 2022 Fundraising Costs 11,262 11,262 10. Analy515 of eX￿ndItUre on Charltabkn advltlos Summary by fund typo Unrestrl¢ted Restrictod funds funds 2023 2023 Total 2023 Young People 1.997.195 106,897 2,104,092 Unresthcled fiJnd8 2022 R&slricted funds 2022 Total 2022 Young People 1,652,853 25,778 1,678,629 Page 25 BARNET YOUTH ZONE IA Company Llmlted by Guarantso) NOTES TO THE FINMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. Analysls of èxpènditure by actl¥M•s Actlvltles und•rtaken dirèctly 2023 Support costs Total nd$ 2023 2023 YoLJll9 People 1,$54.597 449,495 2,104,092 A¢bvibes undertaken directty 2022 Support Gosls 2022 Total funds 2022 Young People 1,266,153 412.476 1.678.629 Analysls of dlrect costs Young . Poople 2023 Total funds 2023 staff costs Depre¢iation Other Staffing Costs Delwery Cost 1,250,001 70.769 50,778 283,049 1.250,001 70,769 50,778 283.049 1,854,597 1,654.597 Page 26 BARNET YOUTH ZONE (A Company Llmitod by Gu8r8ntsèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analy$i8 of •xpendlture by a¢tlvltlos {￿ntInU¢d) Analy81$ of dlrgct costs (contlnuedl Young People 2022 Total funds 2022 Staff ¢osts Depreciation Other Stsffing Costs Management Costs Premises Costs D8liv8ry Costs 1,058,225 76,910 42,424 639 1,058.225 76,910 42.424 639 87,949 87,949 1,256, 753 1,266.153 Analysls of support costs Young People 2023 Total funds 2023 Depreoation Management Costs pr￿lse8 Costs 129,843 170.823 148,829 129,843 170,823 148,829 449.495 449,495 Young People 2022 Total funds 2022 DepreGy8tion Management Costs Premises Costs 149. 758 179,233 84.085 149,158 179,233 84,085 412,476 412,476 Page 27 BARN￿ YOUTH ZONE (A Company Llmlted by Guaranttso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Audltorfs remuneratlon 2023 2022 Fg9s payatk to the Charitys auditorfor the audit ofthe ChariW8 annual accounts 6.110 4,200 Fees payabl8 to the Charl￿S auditor in re8P81* Ot. All non-aud(( services not Ir￿uded above 1300 12. Staff costs 2023 2022 Wages and salaNes Sorial se¢urity ￿$19 Contribution to defined ¢onlrilxJbon ed)eN*8 1.160,281 73,448 16,272 987,877 55,397 14,951 1,250.001 1,058.225 The average number of persons emplt)yed by the Charlty duritYJ the yearwas as fdlows.. 2023 No. 2022 No. Youth Zone 99 85 The number of employees whose employee tenefits (exduding employer pènsion o)stsl exceeded £60,OOQ was.. 2023 No. 2022 No. In Èhe band £60.001- £70,000 The aggregate remuneration of the Key mar￿geMent Personnel, vthich Comprises of the Chief Executive, HR & Systems Manager, Head of FurKlrai5ing. Hgad of Youlh Work. Youth Engagement and Gommunlty Partnerships Manager, VoluntÈeriny and Workforc* Devewienl Manager and Fa￿lItIeS Manager totalled £178.236 {2022'. £275.177). The ￿Trent reporbng period is the first year in which those roles havg been in effect for the fvll year. 14. Truste￿. wmuneratlon and expenses During the year, Trustees received any temuneTation or oll)er beneffts (2022- £NIL). During the year ended 31 March 2023, no Trustee expenses have been In￿rred (2022 - £NIL). Page 28 BARN￿ YOUTH ZONE IA Company Llmlt•d by Guorantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. Tanglble fixed assots Freehold property Motor FLxtur8$ and vohlclès flttlng$ Comput&r equlpment Total Cost or valua￿On At 1 April 2022 Additions Dispo881s 6.218.530 24,950 220.B76 4.027 76.383 5.750 11.4911 540.739 9,777 {1A911 At 31 March 2023 6,218.530 24.950 224,903 80,642 6.549.025 Deprèclatlon Al 1 April 2022 Charge foT the year On disposals 336.113 124.370 146.453 62.512 67.829 5,412 (5801 556.631 200.611 5801 8.317 At 31 Marth 2023 460,483 14,553 72.661 756,662 Ngt book value At 31 March 2023 5.758.047 10,397 15,938 7.981 5.792,263 At 31 klarch 2022 5.882.417 18.714 74,423 8,554 5,984.198 16. Debtors 2023 2022 wlthln one year Trade debtors 26.279 159A96 65,374 55, 146 Prepayments and amed income 185.775 120,520 Page 29 BARNET YOUTH ZONE (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. Crèdltors: Amounts fAlllng du• t*lthln onè yoar 2023 2022 Trade c¥editors 42.019 34,855 89.567 25.039 26,205 35.606 78.330 45,032 Olhertsxalon and sodal Se￿rfty Olh8r creditors Accruals and deferred iiirx)me 191.480 185,173 Pagg 30 BARNeT YOUTH ZONE IA Company Llmltsd by Guarants•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Statomgnt of funds statement of fund$- ¢urrent year Balancg at 31 March 2023 Balance at 1 Aprfl 2022 Transfers Inloul In¢omo Ex￿ndIture Unrestrlcted funds D•slgnated funds Designated Funds- all fvnd8 150,000 150,000 Ganeral funds General Fund8 1.4109.213 1,372.072 12.003A251 213.203 991,063 Total Unrostrlct•d funds 1.559.213 1.372.072 12.003N25} 213,203 1.141,063 Re5trlcted fund$ Fixad assets Jack Petchey (Comms - M8n¥ggrl Jack Petchey- Achievement Awards Mento*ing PrOjectlGrourKfv￿rk London Sony Music Projoct Cutture of Health Burberry- Holiday Club Pro1￿t Fl￿dUl￿-P¢>ttery ￿1n {Arts & Crafts) 6.OOS567 (213,2031 5,792,364 15,522_) 8,647 8,100 {8.252) 8,495 17A57 28.174 19,479 136.9361 128.1741 118,2791 18,7921 16.807 11,4721 11,2921 {9421 19421 6,065.367 51.886 (1060971 1213,2031 5,797,153 Totsl of fvnd$ 7.624.580 1.423.958 {2.110.3221 6,938,216 Page 31 BARNET YOUTH ZONE IA Company LImIl￿ by Gu•ranl••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Slatamont ol funds Icontinu•d) Restrlcted Funds Jack Pot¢h¢y A¢hlovoment Awards - awarded to outstanding members of the Youth Zone in paym8nts of £3DO. Thè young person is able to decide best to 8pend on resour￿ for th? bonefit of the Youth Zone. Mentoring Proj8¢t - FutKJing from the Lord Mayofs Appeal to support onepto-one mentoring of young people who hav& b¢en identbfied as needing extfa SUPPDrt by trained staff mentors. Sony Music Project - Funding to support ontrtO-Or￿ WOTk btheen music spedalisl youth workers and young people with a tslent for music {vo¢als. instrumonts or mu*¢ recording and production}, culminating in a showcase event in spring 2023. Ja¢k Pgkhay (Comms Manager)- grant Icruards the salary costs of the Youth Zona's Communlcalions Manager. Culture of Health - fvnding provided via OnSid¢ from thr¢¢ foundations to support a series of prole¢ts Wtthin the YoLrth Zon8 arcmjnd youThJ people's physical and menlal health. The proje& Mll Cor￿lUde in 2023124 and Ihe final income paymentwill be daimed at that point Burtjery - Holiday Club Project - funding provided wa Onside from Burberry lo support tsvo projects connected to our Holiday Club. The projeci will condude in 2023124 and the final income payment will b• claimed at that point FlredUp4- Pottery Klln (Art8 & Crafts) - fvnding to build the n￿￿988ry inlTr$tru¢iure to stsrt a day and pottery Pro￿￿0￿ at Untta$, and to ftjnd some ofthè staff ng ttjsts asscaatsd with il Dgslgnated Funds A designated fund has been c¥eated swofi(*lty for maintsining tho f8¢ilty of tho Charity. Page 32 BARNET YOUTH ZONE {A Company Llmlted by Gu•rnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Statement of funds Icontlnugd stat6m&nt of funrls- prlor year Balance 81 31 Match 2022 88lance al l Apnl 2021 Inpjme Expendilura Unrostrlctod fvnds General Fund 1.880.556 1.218, T14 (1,540,057) 1.559,273 R•8trl¢ted funds Fixed A85ets 6.107.625 5,522 22.000 [124,058) 6,Q05,567 5,522 8.647 J Petehèy Comms Manager J Petchey Achievements Awards Ronovalion of Re(¥eation Axea- JG Mentoring Proje Sony Music Project (1,503) (19.594) 12,853) (7,826) 5,950 13,644 20.310 30,000 17,457 28,174 6. 121.597 93,604 [149.834) 6.Q65,367 Totsl of funds 8.W2,153 1.312.318 (1,689,897) 7,624,580 19. Analy$ls of not assgts between funds Analysis of net assèts b•twé•n funds- eurrant year Unr•strlcted Restricted funds funds 2023 2023 Total fund$ 2023 Tangible fixed assets Current a8set5 5.792,363 4,790 5.792,363 1,337.333 1191,4801 1.332,543 {191,4801 C￿d￿Or9 (lue wilhin one year Total 1.141,063 5,797.153 6.938,216 Page 33 BARNET YOUTH ZONE (A Company Llmlted by Guarart•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. Analysls of not as$•ts b&tw••n fvnds (¢onUnugd} Analysls of net asseis between funds- prlor year Unrestricfed funds 2022 Rgstricted fvnds 2022 Tolal funds 2022 Tangible fixed ass Currerrt assets Credit￿$ due vthin one year 5,984, 108 81,259 5,984, 708 1,825,645 1185. 173) 1,744.386 (185, 173) Total 1.559,213 6,065,36T 7,624,580 Rè¢on¢lll•Jon of net movement In fvnds to n•t eash tlow from oparatlng actlyltle 2023 2022 Net expenditure for the year las per Ststem￿t of Finanual Adiwhes) 1688,3641 (377.573) Adlustmants for.. DepreLiatiun ¢harge$ Dividends, interests and rents from invesknenls Loss on the sale of fixed 85sets In¢xea59 in debtors Incfeasel{Decreasel in creditOT5 200,611 (5,8431 186 165.2551 11,096 226,068 (835) (67,912) (6,688) Not ¢ash u$ed In operatlng actlvltles 1545,5691 (226,940) 21. Analysis of ¢•$h and cash ￿ul¥alents 2023 2022 Cash in hand 1,151,558 1,705,t25 Total cash and ¢a$h equlvalents 1.151,556 7. 7Q5,125 Pag8 34 BARN￿ YOUTH ZONE {A Compony Llmlt¢d by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 22. Anolysl$ of Changes In net debt At 14¥TII 2022 Cash flows At 31 March 2023 Cash at bank and in harKI 1.705,125 {$53,5671 1,151,55B 1,705.125 1553.5671 1,151,558 23. P•n$lon ¢ommltsn•nts The charity operate8 a defined ¢x)ntribution pen￿on scheme. Th8 assets of thg scheme are held Separately from those of the tharty in an independently adminislergd fund The pension cost chargo rePr￿nts contribub'ons payab￿ by the wmpany to thè fund amounted lo £16,27212022.. £14.9511. Related party transaellons During the year the o*arity pur¢has8d St8ff Unifom18 from Regatt8. a company in which a Trustee 15 director. The tranSaCbC￿ £4,579 {2022: £nil). No anv)untwa$ owed as at 31 March 2023. Page 35