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2024-03-31-accounts

Trustees’ Annual Report for the period

From 01/04/2023 To 31/03/2024

Charity name: HIGHER POTENTIAL

Charity registration number: 1178146

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 To advance the education of music and
arts of young people by enhancing their
arts education including in higher or further
education and enabling their personal
development.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 To help young people especially, but not
exclusively, those not in education or
employment, those at risk of committing
crime or becoming victims of crime, by
providing access to mentoring, training and
personal development using our 2 fully
equipped recording studios.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 I can confirm the Trustees have had regard
to the guidance

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers

Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 Against a harsh backdrop of continued
uncertainty for many in our community,
increased living costs and reduced
investment locally, we are proud of the
progress that we have made this year.
We have secured multi-year funding
towards our core costs for the next three
years which will enable enhanced
investment into our sustainability,
diversifying our income including more
focus on earned income for use of our
state-of-the-art recording studios, and
increasing the profile of our space with
local partners.
We have continued to build on the
relationships we have locally, working more
closely with Brent Council and the
Metropolitan Police as a trusted
intermediary and liaison body in the
community. In addition, working more
closely with local delivery partners has
enabled us to make our multi purpose
space more accessible to the community.
The courses that we have delivered have
responded to local need, focusing on
personal development, confidence and self
esteem through music development for
children and young people who are most
at-risk of not fulfilling their potential and
becoming perpetrators or victims of crime.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against Para 1.41 objectives set Performance of fundraising activities against objectives Para 1.41 set

Investment performance
against objectives		 Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 Funds in £71,425
Expenditure £52,539
This is a marked increase from the
previous year, owing to success in securing
multi-year funding including a core
contribution to our running costs.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 Our policy is to achieve three months of
running costs.
Amount of reserves held Para 1.22 Zero
Reasons for holding zero
reserves		 Para 1.22 Whilst we have a more healthy balance,
challenges previously have prevented us
from building up any unrestricted reserves.
Details of fund materially in
deficit		 Para 1.24 N/A
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 Trustees continue to explore a long term
solution to retaining at our current address.

Additional information (optional)

You may choose to include further statements where relevant about:


The charity’s principal
sources of funds (including
any fundraising)
Para 1.47
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46
Other

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed,royal charter)		 Para 1.25 Constitution
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Charity Incorporated Organisation
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Appointed or re-appointed and elected
by members at AGM

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51 Trustees are inducted by being taken
through our accounts, policies and
information on our strategic direction. We
access training sessions via Young Brent
Foundation to meet our safeguarding
responsibilities. All new trustees meet with
existing trustees to understand our
direction, and broad objectives are agreed
for the duration of their tenure.
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any
related parties		 Para 1.51 Higher Potential are members of Young
Brent Foundation who offer support,
guidance and advice. We are also linked
into our local CVS.
Other

Reference and Administrative details

Charity name HIGHER POTENTIAL
Other name the charity uses
Registered charity number 1178146
Charity’s principal address 5 HASSOP ROAD LONDON NW2 6RX

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee (ifany)
Duhaney Burke Chairman
Denver Hamilton
Howard Buckley
Kita Ikoku

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s) Duhaney Burke

Position (eg Secretary, Chairman Chair, etc)

Date

16/01/2025

1178146
HIGHER POTENTIAL
Receipts andpayments accounts		 2023-24
06-Apr-24
05-Apr-24
For the period
from
06-Apr-23
Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the
nearest £
5,600
-
5,600
-
-
-
5,600
-
-
-
-
-
5,600
-
- 25,150
- 19,550		 Restricted
funds
to the nearest
£
650
500
40,000
5,000
19,675
-
-
65,825
-
-
-
65,825
497
6,787
1,182
-
127
991
226
600
4,152
-
1,528
350
100
36,000
-
52,539
-
-
52,539
13,286
-
13,286
1		 Endowment
funds
to the nearest
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest
£
650
500
40,000
5,000
19,675
5,600
-
71,425
-
-
-
71,425
497
6,787
1,182
-
127
991
226
600
4,152
-
1,528
350
100
36,000
-
52,539
-
-
-
52,539
18,886		 Last year
to the
nearest £
Arts 4 Dementia 7,500
CVS Brent 990
John Lyons Charity -
Locality -
National Lotary -
Others 5,600 5,619
- -
Sub total(Gross income for AR) 5,600 14,109
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
14,109
Administration Cost 113
Bidding Cost -
Building Security -
Chq 100016 -
Deep Clean 289
Energy cost 1,520
Event Cost 305
Media Production 1,720
Miscellenous Other 1,254
Private Fuel 211
Project Cost 2,065
Project Manager 2,984
Radio Advertising 798
Rent Charge 28,000
Prior Year Expense Charges -
**Sub total ** - 39,259
A4 Asset and investment
purchases, (see table)
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
CCXX R1 accounts (SS)
39,259
5,600 13,286 - 18,886 - 25,150
- - - - -
- 25,150 - - 25,150 -
- 19,550 13,286
1		 - - 6,264 - 25,150
14/01/2025

CCXX R2 accoun18 ISSI 1410112025

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Signature
Duhaney Burke
Details
Details
Studio & Office Equipment
Details
Details
Total cash funds
(agree balances with receipts
and payments account(s))
Details		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
- 19,550
13,286
-
-
-
-
- 19,550
13,286
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
Fund to
which asset
belongs
Cost
(optional)
-
-
-
-
-
-
-
-
Fund to
which asset
belongs
Cost
(optional)
-
24,236
-
-
-
Fund to
which liability
relates
Amount due
(optional)
-
-
-
-
-
Print Name
Duhaney Burke		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
Current
value
(optional)
-
-
-
-
Current
value
(optional)
-
24,236
-
-
-
When due
(optional)
Date of
approval
Duhaney Burke Duhaney Burke 10/12/2024

CCXX R3 accounts (SS)

14/01/2025

3

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

Charity Name Higher Potential 05[th] April 2024

On accounts for the year ended Charity no (if any)

1178146

Set out on pages

(remember to include the page numbers of additional sheets)

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 05/04/2021

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * Please delete the words in the brackets if they do not apply.

Signed:

Bonny Needham

Date:

14/01/2025

Name:

Bonny Needham

Relevant professional qualification(s) or body (if any):

Financial Accountant

October 2018

1

IER

ACCA

Address:

109 Park Lane

Harrow

Middlesex

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

I did have some concerns regarding the administration within the charity, I have advised the trustees that they should implement a more robust policy and procedures in regards to documents and records keeping.

This has now been met and the trustee has made assurances this will be carried out going forward.

October 2018

2

IER