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← Gmtw Youth Club

2023-10-31-accounts

REGISTERED CHARITY NUMBER: 1177723

GMTW YOUTH CLUB

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 October 2023

GMTW YOUTH CLUB

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2023

GMTW YOUTH CLUB

Content of the Financial Statements For the Year Ended 31st October 2023

Page
Legal and Administrative Information 1
Report of the Trustees 2 - 4
Independent Examiner's Report 5
Statement of Financial activities 6
Statement of Financial Position 7
Notes to the accounts 8 - 12
Detailed Statement of Financial Activities 13

GMTW YOUTH CLUB

Legal and Administrative Information

Board of Trustees:

Board of Trustees: Mr. Adrian Samuda Ms. Samantha D' Souza Ms. Nadine Page Registered Charity Number 1177723 Registered Company Number CE013650 Registered Office: 106 Clifton Road South Norwood London SE25 6PX Independent Examiner Patrick Jusu FCCA PAJ Accountants 10 - 16 Tiller Road Docklands London E14 8PX Bankers Tide Business Banking Unit 1 - 2 Centrale Shopping Centre London CRO 1TY

Page 1

For the Year Ended 31 October 2023

GMTW YOUTH CLUB

The trustees present their report with the financial statements of the charity for the year ended 31 October 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) Effective 1 January 2015.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is an organisation registered in England for charitable purposes and is governed by its constitution as a charitable incorporated organisation.

Recruitment and appointment of new trustees

Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.

Information for new charity trustees

The charity trustees will make available to each new charity trustee, on or before his or her first appointment:

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees confirm that they regularly review the significant risks facing the Charity and have systems and procedures in place to mitigate those risks. The charity’s Secretary is responsible for the day-to-day monitoring of risk and reporting to the Trustees.

Induction and training of new trustees

All trustees are expected to attend:

As part of the induction process all trustees receive copies of the following:

Page 2

GMTW YOUTH CLUB Report of the Trustees For the Year Ended 31 October 2023

Public Benefit Statement

We are a resource for young people from Croydon and the surrounding areas, the objects of the CIO are to act as a resource for young people up to the age of 25 living in Croydon and the surrounding areas by providing advice and assistance and organising programmes of physical, educational and other activities as a means.

Objectives and Aims

The objectives of the charity are to act as a resource for young people up to the age of 25, living in Croydon, London and the surrounding area, by providing advice and assistance and organising programmes of physical, educational and other activities as a means of

• Advancing life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;

• Advancing education;

• Relieving unemployment.

Significant Activities

March 2020

GMTW CSCS training programme, candidates are placed onto a 2 week course to gain a CSCS card, upon completion of their course, a job interview and work experience is provided, a job is offered to the stand out candidates, all candidates are matched with construction recruitment companies. This activity is ongoing. GMTW SIA training programme, candidates are placed onto a 4-6 week course to gain their SIA security badge. This activity is ongoing.

April 2020

GMTW Soup Kitchen was launched in April 2018, we partnered up with food cloud and collected surplus food from Tesco superstores 3 collections a week, 2 days a week the office is opened to feed the local homeless. This activity is ongoing.

May 2020

GMTW Boxing event, White collar amateur boxing event at the prestigious York Hall with Boxstar promotions, Young persons from Croydon are entered into a boxing training camp for 4 weeks and fight in a boxing exhibition match in front of a live audience.

This activity is ongoing, the next exhibition event is in October 2020. GMTW partnered with Scovee Digital to offer sales jobs to the locals of Croydon, sales training provided, 3 young people aged between 18 & 21 successfully acquired a job.

June 2020

Contract secured with Modus Building Contractors to offer local young people labouring opportunities in construction. Partnered with Croydon works to bring job opportunities to young people within the GMTW network.

July 2020

GMTW cake bake sale, GMTW have introduced a Sunday cake sale to help fundraise for the charity and gain awareness, young people from within the network are the volunteers. This activity is ongoing. GMTW ENT Studios built-In recording studio at the office premises for the use of young people interested in music creation. This activity is ongoing

August 2020

GMTW 5 a side football, Gmtw Youth club have organised a 5 a side football event, once a week to help bring the younger generation together through football. GMTW Friday Fun, organised fun day once a week to help fundraise, open event everyone is welcome. This activity is ongoing. November 2020

GMTW charity buckets are circulated in Surrey, Southwark and Lambeth to raise funding for new projects. This activity is ongoing. GMTW PTS training programme, candidates are placed onto a 2 week course to gain a PTS card enabling them to work on the railway doing engineering, upon completion of their course, a job interview and work experience is provided, a job is offered to the stand out candidates, all candidates are matched with construction recruitment companies. This activity is ongoing.

Volunteer

The efforts of volunteers are at the heart of our charity. Incoming volunteers attend full induction programme. And afterwards are sent to trainings in the area of the contribution based on assessed skill need.

Page 3

GMTW YOUTH CLUB Report of the Trustees For the Year Ended 31 October 2023

FINANCIAL REVIEW

Reserves

It is the objective of the charity to ensure restricted funds are kept at a level which provides sufficient funds to cover management, administration and support costs on an ongoing basis. Based on the charity's size, the context of future plans, the level of our financial commitments and contractual obligations held, it's our policy to maintain restricted reserves of not less than equivalent of three months recurrent expenditure.

The Charity has a policy of keeping any surplus liquid funds in short-term deposits which can be readily accessed and where the capital is protected. The objective of the investment policy is to maximise interest while limiting risk. This policy is adopted as the surplus funds are expected to be used in the near future to fund future commitments. The Trustees consider that the current level of restricted reserves for the Charity is below that required and that the Charity should aim to explore ways of expanding its income streams.

GOING CONCERN

After making enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its objectives and activities for the public benefit for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

Further details regarding the adoption of the going concern basis are in note 1 ‘Accounting Policies’ in the financial statements.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of Grace to Graces for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS102 the Financial Reporting Standard Applicable in the UK and Republic of Ireland.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by order of the board of trustees on 30th August 2024 and signed on its behalf by:

Mr. Adrian Samuda Trustee

Page 4

GMTW YOUTH CLUB Independent Examiners Report to the Trustees For the year ended 31st October 2023

I report on the accounts for the year ended 31 October 2023 set out on pages six to thirteen.3

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Patrick Jusu FCCA Independent examiner PAJ Accountants 10 - 16 Tiller Road

Docklands, London E14 8PX Date: 30th August 2024

Page 5

GMTW YOUTH CLUB Statement of Financial Activities For the Year Ended 31 October 2023

Unrestricted
Funds
Notes
£
INCOMING RESOURCES
Incoming Resources
Voluntary Income
Donations
2
65,000
Other Income
Fundraising
3
67,860
Total Incoming Resources
132,860
RESOURCES EXPENDED
Resources expended on Charitable
Activities:
Charitable activities costs
4
55,315
Cost of generating voluntary income
5
62,000
Resources Expended
117,315
Other Resources Expended
Governance costs
6
500
Other support costs
7
9,923
10,423
Total Resources Expended
127,738
Net incoming resources for the year
5,122
RECONCILIATION OF FUNDS
Fund balances brought forward
21
Transfer of funds
Net Incoming Resources
5,122
Fund balances carried forward
5,143		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
10,000
-
10,000		 Total
Funds
2023
£
65,000
67,860
132,860
55,315
62,000
117,315
500
9,923
10,423
127,738
5,122
10,021
-
5,122
15,143		 Total
Funds
2022
£
50,100
49,000
99,100
35,175
63,500
98,675
400
15,198
15,598
114,273
(15,173)
25,194
-
(15,173)
10,021

Page 6

GMTW YOUTH CLUB Balance Sheet At 31 October 2023

Notes
Fixed Assets
Tangible fixed assets
11
Current Assets
Debtors
12
Cash at bank and in hand
Net Current Assets
Creditors: Amounts falling due
within one year
13
Net Current Assets
Net Assets
Funds
14
Unrestricted Funds
Restricted Funds		 Unrestricted
Restricted
Funds
£
£
8,707
8,707
-
-
-
6,936
-
6,936
-
(500)
-
6,436
-
15,143
-
Funds		 Total
Funds
2023
£
8,707
8,707
-
6,936
6,936
(500)
6,436
15,143
5,143
10,000
15,143		 Total
2022
£
3,234
Funds
3,234
-
7,187
7,187
(400)
6,787
10,021
21
10,000
10,021

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 � of the Companies Act 2006 and

(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable � company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Trustees on 30th August 2024 and were signed on its behalf by:

Mr. Adrian Samuda

Trustee

Page 7

GMTW YOUTH CLUB Notes to the Financial Statements For the Year Ended 31 October 2023

1 Accounting Policies

Accounting Convention

The accounts have been prepared in accordance with all applicable accounting standards, FRS 102, the Statement of Recommended Practise (SORP), “Accounting and Reporting by Charities” revised 2015 (FRS 102) and the Companies Act 2006, except for the alternative headings that have been used in the Statement of Financial Activities, as the Trustees feel that the revised headings make the accounts easier to read for a non-financial audience. The principal accounting policies adopted in the preparation of the accounts are set out below.

The charity constitutes a public benefit entity as defined by FRS102.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the charitable company qualifies as a small charitable company.

Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Grants and Donations

Income from grants and donations is included in incoming resources when these are receivable.

Going concern

The Charity’s activities, together with the factors likely to affect its future performance and position are set out in the Report of the Trustees on pages 2 to 8 which describes the structure, governance and management of the Charity; its risk management policies and procedures, its objectives and activities, the achievements, performance and financial position of the Charity, and its plans for the future. After making enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its objectives and activities for the public benefit for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Cost of generating funds

Cost of generating funds are those costs relating to the generation of income and includes cost related to the management of the charities activities.

Allocation and apportionment of costs

Support cost are those cost related to shared activities of the organisation and are apportioned on a basis considered appropriate to the underlying activities.

Governance costs

Governance costs are the costs associated with the strategic direction of the charity and with meeting regulatory responsibilities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee. Restricted funds can only be used for particular restricted purposes within the objects of the charity Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 8

GMTW YOUTH CLUB Notes to the Financial Statements For the Year Ended 31 October 2023

Depreciation

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Office Furniture and Equipments� - 15% on cost�

2
Voluntary Income
Commission and referrals
Incentives
XCLSV Studio
3
Fundraising
Fundraising income
Events
Resources Expended
4
Charitable activities cost
Events
Studio expenses
Volunteer expenses
5
Cost of generating voluntary income
Studio engineers
Rates
Rent
Utilities
6
Governance costs
Accountancy services		 31.10.2023
£
12,000
4,000
49,000
65,000
31.10.2023
£
38,000
29,860
67,860
31.10.2023
£
23,780
-
31,535
55,315
31.10.2023
£
48,000
1,500
10,000
2,500
62,000
31.10.2023
£
500
500		 31.10.2022
£
5,600
2,500
42,000
50,100
31.10.2022
£
38,000
11,000
49,000
31.10.2022
£
-
12,500
22,675
35,175
31.10.2022
£
48,000
3,000
10,000
2,500
63,500
31.10.2022
£
400
400

Page 9

GMTW YOUTH CLUB Notes to the Financial Statements For the Year Ended 31 October 2023

31.10.2023
7
Other support costs
£
Admin expenses
-
Rates
1,500
Depreciation
3,023
Rent
5,000
Equipment
400
9,923
8
NET INCOMING/(OUTGOING) RESOURCES
31.10.2023
Net resources are stated after charging/(crediting):
£
Depreciation - owned assets
3,023
3,023
9
TRUSTEES' REMUNERATION AND BENEFITS
10 STAFF COSTS
31.10.2023
£
Wages and salaries
-
Social security costs
-
-
31.10.2023
-
There were no trustees' remuneration or other benefits for the year
ended 31 October 2023
There were no trustees' expenses paid neither for the year ended 31
October 2022.
The average monthly number of employees during the
year was as follows:
No employees received emoluments in excess of
£60,000.		 31.10.2022
£
3,500
3,000
2,498
5,000
1,200
15,198
31.10.2022
£
2,498
2,498
31.10.2022
£
-
-
-
31.10.2022
-

Page 10

GMTW YOUTH CLUB Notes to the Financial Statements For the Year Ended 31 October 2023

11 Tangible Fixed Assets

All assets relate to the Charity and are used for charitable purposes.

Cost
At 1st Nov 2022
Improvements
Additions
Disposals
At 31st October 2023
Depreciation
At 1st Nov 2022
Charge for the year
At 31st October 2023
Net Book Value
At 31st October 2023
Net Book Value
At 31st October 2022
12 Debtors
Trade debtors
Other debtors
13 Creditors: Amounts falling due
within one year
Accrued expenses
Other creditors		 Office
Furniture
& Equipment
£
16,654
-
3,500
20,154
8,424
3,023
11,447
31.10.2023
£
-
-
-
31.10.2023
£
500
-
500		 Total
£
16,654
-
3,500
-
20,154
8,424
3,023
11,447
8,707
3,234
31.10.2022
£
-
-
-
31.10.2022
£
400
-
400

Page 11

GMTW YOUTH CLUB Notes to the Financial Statements For the Year Ended 31 October 2023

14 MOVEMENTS IN FUNDS

Unrestricted fund
Restricted funds		 1st Nov
Transfer
of funds
Net
Movements
2022
in funds
£
£
£
21
5,122
10,000
-
.
10,021
-
5,122		 31st October
2023
£
5,143
10,000
15,143

14 SUMMARY MOVEMENT IN FUNDS FOR THE YEAR

Unrestricted funds
Restricted funds		 Incoming Transfer
Resources
resources
of funds
expended
£
£
132,860
-
(127,738)
132,860
-
(127,738)		 Movement
in funds
£
5,122
5,122

Page 12

GMTW YOUTH CLUB Detailed Statement of Financial Activities For the Year Ended 31 October 2023

INCOMING RESOURCES
Voluntary income
Commission and referrals
Incentives
XCLSV Studio
Total Voluntary Income
Fundraising Income
Fundraising income
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Other Charitable activities cost
Events
Studio expenses
Volunteer expenses
Cost of generating voluntary income
Equipment expense
Rates
Rent
Utilities
Governance costs
Accountancy services
Support Costs
Rates
Depreciation
Rent
Admin expenses
Utilities
Total Resources Expended
Net incoming resources for the year		 31.10.2023
£
12,000
4,000
49,000
65,000
67,860
67,860
132,860
23,780
-
31,535
55,315
48,000
1,500
10,000
2,500
62,000
500
500
1,500
3,023
5,000
-
400
9,923
127,738
5,122		 31.10.2022
£
5,600
2,500
42,000
50,100
49,000
49,000
99,100
-
12,500
22,675
35,175
48,000
3,000
10,000
2,500
63,500
400
400
3,000
2,498
5,000
3,500
1,200
15,198
114,273
(15,173)

Page 13