Youn8 K&C (ft>rmerly known a5 Kensington and Chelsea YPF} A Charitsble Incorporated Organisation {Charity no. 1185156} REPORT AND FINANCIA EMENTS FOR THE YEAR ENDED 31 MARCH 2 25 CONTENf5 page Trustees, Report Independent Examlnerfs Report Annual Accounts Young K&C (A Charltabl• fncorpor•t•d Oryanlg•llon No. 1185150) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their Report and independently examined Financial Statements for the year ended 31 March 2025. The financSal statements hove been prepared in accordan￿ with the charitvs constitution, the Charities Act 1993 and the Statement of Recommended Practice.. Accounting and Reporting by Charfties 2005. eferen¢e and Admlnlstratlve Deta Charlty Reelstratlon Number 1185156 Reglstered Offlce clo Lancaster Youth Hub 128A Lancaster Road London wii ios Trurtees The Trustees who held office durin8 the year, unless otherwise indicated, were as follows: Andy Evans Arshlan Ali Yusuf Ibrahlm Councillor Johnny Thalassite5 Amal Osman Chair of Trustees Trustee Trustee Trustee Trustee Principal Officer Nicola Butler Chief Executive Officer ICEOI, non-votinB Independent Examlner I￿ Maisanda Bsc, ACMA, CGM4 ACA, Msc. Fintech Ioxfordl Chartered Management Accountant Maisanda & Co Sobus Hub 196 Fre5ton Road Kensingion London WIO 6rr Tel: 02089613888 Young K&C IA Charltable Incorporated oryan1s￿on No. 11851561 Bankers CAF Bank 25 Kings Hlll Avenue Kings Hill West Malling ME1941Q Structure Governance and Mana ement Governing Document Young K&C Iformerly known as Kensington and Chelsea YPFI wa5 registered as a charitable incorporated organisation on 30 August 2019. It is governed by its charity constitution. On I February 2024, the trustees agreed to update the constitution to change the name of the charity from Kensington and Chelsea YPF to Young K&C. Related Charities The￿ are no related charities. Appolntment of Trustees Management of the Charity is vested In a Board of Trustees. Trustees are appointed by resolution at a properly convened meeting of the charity trustees, as set out in the Constitution. Induction and Training of Trustees All new Trustees are given induction information, including the latest annual report and accounts, current policie5 lin¢ludin8 Safeguardin81, operational pl8ns and financial fore¢asts. They are given opportunities to meet other Trustees and senior staff, to provide further insight into the management and operations of the Charity. Senior staff are present at Trustees, meeting to provide information and to support the board. Organisational Structure The Trustees are responsible for overall financial control, Strategic direction and work of the Charity. The board of trustees meets four times per year. It is supported by the CEO and ad hoc advisers, who have no voting rights. Day-to-day responsibilities are delegated to the CEO, within a framework of approved policie5 and operational plans. The CEO manage5 the stsff listed below. Trustees (Board of Trustees) CEO Inon-votingl Deputy CEO Membership Communications Young K&C IA Ch4rltable Incorporèted Qrganlsatlon f40. 11851561 Risk Review Young K&C ha5 carried out a risk a55e55ment of potential funding risks, from known and potential liabilities. This 15 reviewed on an ongoing basis. The strètegy is to develop long-term relationships with funders and to retain a reasonable level of reserves. Trustees aim to mitigate the major risks to which the Charity is exposed, through systematic review. Internal Controls The Trustees have agreed a Financial Control Policy with procedure5 to ensure all personnel, especially those involved in financial operation5, correctly adhere to financial controls. This should ensure an audit trail and that cost allocations are properly ascertained and recorded. All transactions are recorded in proprietary accounting software, enabling tracking of transactions and monthly bank reconciliations. Ob-ectives and Activities Background Young K&C was set up in 2019, with core funding from John Lyon's Charity and Royal Borough of Kensington and Chelsea. Our membef5 are local voluntary organisations that work with thildren and young people in Kensington and Chelsea. Membership is free and members benefit from free access to Young K&C'5 grant programmes, capacity building support and advocacy. Charitable Objects The Object5 of the Charity, bein8 undertaken in the a￿3 of the Royal Borough of Kensington and Chelsea for the public benefit, are as follows.. l. To promote the efficiency and effectiveness of charities providing services for children or young people by providing 5UPPtsrt, advice, training and other assistance. 2. To promote the effective use of resource5 for charitable purposes by charitable and non-charitable bodies working with children and youn8 people by providing advice, services and consultations. 3. To advance in life and relieve the needs of children and young people through making grants to organisations that do any or all of the following.. The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life- Providing 5UPPOrt and activities which develop their skills, capacitie5 and capabilitie5 to enable them to participate in society as mature and responsible individuals. Vlslon Young K&C's Vision 15 that all children and young people in Kensington and Chelsea can access outstanding opportunities to develop and grow. Young K&C (A Charltable Incorporated Oryanlsatlon No. 11851561 Misslon Young K&C brings together partnerships to provide funding. training and advocacy for local voluntary organisations that work with children and young people in Kensington and Chelsea. Our aims are.. Better outcomes for children and yotjng people Thriving local voluntary organisations Reduced inequalitv Our ObJeC￿veS are to work with local young people and voluntary and community sector organisations to.. increase sustainable funding to voluntary organisations for the benefit of children and youn8 people 2. build capacity and confideno of voluntary and community sector organisation5 to deliver hiqh quality provision for children and young people advocate and raise awareness with our members and the children anil young people they work with to support greater equity and inclusion Youth-led approach Young people play an important role in Young K&C's decision-making processes. Young Ambassadors have paid role5 Vlslting member organi5ation5, assessing grant applications, reviewing and deciding on grant awards, giving feedback to applicants. helping with Consultations, and visiting the projects that we fund to evaluate and to make recommendations for future development. Member-led approach Young K&C's members- local voluntary orBanisations- are regularly engaged through formal and informal consultations, forurns, surveys and 1-2-1 meetings. This proviiles vital insight into the needs and wishes of voluntary organi5ations working with children and young people in the RBKC that helps to shape Young K&C's work and priorities. Equity, dlversity and incluslon Young K&C 15 proactive in promoting opportunities for young women, Global Majority young people, disabled young people and LGBTQJ++ young people through.. our funding programmes and guidance capacity building support for smaller organisations and Global Majority-led organisations colle¢tin8 and analysing equalities data from the organisations that we fund recruitment of personnel (staff, volunteers, trustees, members of our grant panels) training and development advocacy Young K&C (A Charitable Incorporated Organlsatlon No. 11•5156) Public Benefit We are satisfied that the activities fulfil the public benefit requirement set out in the Charity Commission's general guidance. As well as benefit to the individuals concerned there is a broader gain for the public. Children and young people from disadvantaged backgrounds benefit from improved acce5S to OPPOTtunitie5 and 5ervice5 including youth clubs, adventure playgrounds, supplementary schools, sports. art. music. theatre, holiday activities and food. Children and young people benefit from: free after school and holiday programmes safe places to spend time with friends in the local community better opportunities for development of skills and learning improved physical and mental health and wellbeing development of creativity. problem solving skills and ￿5111en¢e, through 5POrt, arts, music and play better inclusion of disabled children and young people increased cultural awareness and diversity through bringing children and young people together from different backgrounds increased opportunities for children from low-income families to participate and develop a wider range of interests, 5ki115. experiences and aspiration5 Local voluntary and community children and youth organisations benefft from.. increased funding opportunities. support with full cost recovery and sustainabilitv support with governance, management and development, policies and procedures opportunitie5 for training and 5ki115 development opportunities for partnerships and cross sector working, for example, coming together to tackle issues like youth employment and serious youth violence Improved relationships from advocacy Achlevements and Performance Impact Summary During 2024-25, Young K&C delivered.. Objertive I: Increased sustainable funding for local voluntary organi5ations by.. developing the Youth Empowerment Grants programme in partnership with RBKC, securing a commitment of £4.7 million over 5 years for the 5ertor partnering with funders including John Lyon's Charity, Julia Rausing Trust, Lightbulb Trust, the NHS and R8KC to distribute £625.487 to 46 local voluntary organisations Recruiting and developing 18 local younB people as Young Ambassadors to lead on our grant programmes Young K&C (A Charltable lrteorporated Organl$atbon No. 1185156) Objective 2: Bullt capaclty of voluntary organisatlons to dellver high quality provision for children and young people by.. delivering 14 training and nètworking sessions attended by over 60 local voluntary organi5ations providing over 100 hours of 1-2-1 advice and support Objertive 3: Worked with local voluntary organisations. Children and young people to advocate and raise awareness by.. Hosting the first ever Young K&C Achievement Awards. recognising over 40 local organisations, staff and volunteers for their ama2in8 contributions Launching the "We are Young K&C" film, shortlisted for the Smiley Film Awards Profiling over 100 local organisations and hundreds of activities via the Our City website Showcasing the work of local young people and youth clubs at A Day in Your Life photography exhibition and prize giving Showcasing the work of local voluntary orBanisations through Young K&C'5 communications channels Activitie5 and Impart Objective I: Increasing sustalnable funding for local voluntary organisations Our grant making supports local voluntary and community organisations to deliver high quality Services for children and young people by glvlng them the resources they need to develop anil grow their service delivery. Access to funding for local children and youth services is becoming more challenging everv year, particularly for smaller, grassroots organisations. Local voluntary organi5ations face challenges with rising costs. recruiting and retaining good staff and sustaining support for children and young people. We reduce the barriers to funding by-. Working with Young Amba55ador5 lo ensure decision are informed by local young people Visiting organisation5 in person to gNe our applicants the best opportunity to Showcase their work Aiming to keep application forms as short as possible, and using plain English Supporting our members with monitoring and reporting, skills and development Building positive relationships with our members, to support them throughout the grant process and beyond. We believe in participatory grant-making, bringinÉ together the voices of young people. Young K&C {A Charltable Incorporated Oryanlsatlon No. 1185156> professionals and stakeholders as key decision maker5 across all Stages of the grant proce5S. "Grant making should not be made in isolation to the people it 15 affecting" Youn8 Ambassador, 2024 By working in collaboration with our Members and local young people, we make decisions that re fair and representative of local need. We have built Stron& trusted relationships with the organisations we fund and have seen the real impact of our support within communities. Our Young Ambassadors help to shape a process that reflects the lived experiences and priorities of local young people, ensuring our funding remains relevant, inclusive, and community led. Youth Empowerment Grant Pro8rammes During 2024-25, Young K&C worked closely with Royal Borough of Kensington and Chelsea to develop the Youth Empowerment Grants Programme. This exciting initiative aim5 to create outstanding opportunities for children and young people in the borough and support the local voluntary sertor to deliver high quality play and youth services. RBKC is making an unprecedented investment of £4.7m over 5 year5 in local voluntary sector, children and youth services starting from l April 2025. Young K&C has agreed to match this with an investment of £750,000 through partnerships and fundraising. The Youth Ernpowerment Grant Programme has 5 priority areas.. Inclusivity, ensuring that all young people feel weScome and valued Learning and Employability, preparing young people for the future Physical and Emotional Wellbeing, promoting mental health and healthy lifestyle5 Safe and Secure Spaces, providing environments where young people can thrive Celebrating the Sector. recogni5ing the achievements of the local sector We developed 3 grant programmes.. Maln Grants, in partnership with RBKC, providin8 longer-term, core funding for play and youth services Making Space, in partnership with RBKC and Julia Rausing Trust, to increase opportunities for children and young people with special educatlonal needs and disabilities1SENDI Small Grants. to be run annually. in partnership with RBKC and john Lyon's Charity. providing funding for smaller organisation5 and shorter-term project5. The Youth Empowerment grant panels also recommended awarding leases to seven RBKC propertie5- Lancaster Youth Hub, Chelsea Youth Hub, 19 Golborne Road. Little Wormwood Scrubs Adventure Playground, Canalside and Cremorne Water Sports Centre5 and Flashpoint Play Centre. Young K&C IA Charltable Incorporated Oryanlsatlon No. 11851561 Young K&C recruited and trained a team of 18 Young Ambassadors. young people from the local area, who worked with us to Vlslt and assess the shortlisted applicants. Young Ambassador5 played a leading role in a55essing quality, giving feedback and decision-making on the grant programmes. Youth Empowerment Grant funding and activities will start from l April 2025. Grant Funding distributed in 202*25 In 2024-25. Young K&C made grants totalling £625,487 to 46 local voluntary organisations Icompared with £579,813 to 44 Young K&C members in 2023-241. In 2024-25, we worked with partner5 to deliver and 5LlPPOrt 6 grant programmes (compared with 6 in 2023-241.. Grant Programme Partners Funding Awarded Number of Organi5ation5 Funded Comparison with 2023-24 Holiday Activities and Food Supporting Supplementary Schools RBKC £362,260 27 £332,504 to 26 organisations Lightbulb Trust & John Lyon's Ch3rity £40,000 to 10 organisations £84.200 14 Wellne55 from Within IReducing awarenes5 of disordered eating for young people) £65,970 to 6 organisations Iyoung Adult Mental Health programmel Central and North West London NHS Foundation Trust £60.423 Connerting Young K&C (Our Choice- support for girls & LGBT++ young people, Exploring Culture. Heritage & Identity) Youth Activities at Lancaster Youth Hub Making Space lincluding disabled young peoplel John Lyon's Charity £34,581 £50.030 to 10 organisations £53,188 to 2 organisations RBKC £47,428 Julia Rausing Trust & RBKC £82.201 to 4 organisations £20.000 In 2024-25 Young K&C distributed grants to.. Active Day Camps, All Child, An-Nisa Community ErTipowerment, Azza Supplementary School, Baraka, Bloomsbury Football, &rainspark Games, Chelsea FC Foundation. Oadhiye, Dalgarno Supplementary School. Dalgarno Trust, Earls Court Youth Club, Eristars, Eritrean Parents & Children's Association, the Fashion School, Financial Harmony. Fit for Lrfe Youth. First Georgian Supplementary School. Gheez Rite, Harrow Club, Hornimans Adventure Playground, Kids on the Green, Latimer Community Art Therapy, Young K&C IA Charltable Incorporatèd Oryahlsatlon NO. 1185156) Learning Club Community Association, Little Foxes Football Club, London Sports Trust, Mol Youths, Nxt Generation, Ottavia Foundation. Portobello Dance. Pro-touch SA, Response Community Project, Rugby Portobello Trust, Solidarity Sports, Somali Women's Association, SPID Theatre, St Lukes and Christ Church holiday programme, St Mary's Ukrainian School, Suffa Foundation, Swimunity, Teit Ethiopia, Venture Community Association, We5t5ide Basketball, WHSA, Women's A550ciation for Networking and Development. Youth Action Alliance. How Young K&C's work on fundlng makes a dlfference What our members say.. "This funding is so crucial for u5. Crucial to us being able to Secure the offer for the next 3 vears, at a time when our organisation wa5 going through a period of change. It's enabled us to be able to focus on the work and not be fighting battlès to secure the funding. So that we can get on with delivering high quality work. "A crucial part of offer is making it accessible and free. We don't want any barriers for young people to be able to acces5 our Services." Local charity working with disabled young people "Ivs helped us to sustain our service at a time when we've had reductions in funding from elsewhere., Local arts charity "I left school with no GCSE'S so I didn't think I'd be able to pa55 the assessments for the Life Guard qualification. Because of the Study Support I received from Mol Youths Charity, l am now a qualified Life Guard and can work." Local young per5()n Case Study-supplementary Schools Funding programme In Kensirsgton and Chelsea, Global Majority young people are at disproportionate risk of school exclusion and involvement in the criminal justice system. Many of those who end up in the criminal justice system are found to have special educational needs and disabilities. Supplementary schoo15 play a key role in supporting young people from diverse communities. by providing additional Èducational support, lèd by community mèmbers who act as outstanding role models for children and young people. Despite their vital work supporting local children and young people, smaller supplementary schools Struggle to secure funding from charitable funders. A report by Social justice organi5ation Ten Years, Time found that many trusts and foundations still fail to give a fair share of charitable funds to these groups. Micro and small voluntary sector organisations Including supplementary schools were the group least likely to receive financial support from trusts and foundations. In 2024-25, Young K&C partnered with Lightbulb Trust to distribute Small grants to 10 smaller, local supplementary schools (all organisations with turnover under £40,000 per year). The schools delivered a wide range of opportunities for children incluiling English, Maths, Science, Languages, Culture, Codin& Arts, Theatre and Dance, reaching over 500 local children. io Young K&C IA Charitable Incorpor4ted Oryanl$4tlon 140. 1185156) This grant5 piogramme enabled Young K&C and Lightbulb Trust to ensure that our funding is reaching smaller voluntary organisations working with some of the most vulnerable young people. What children told us about their experiences at supplementary schools= here I live, there aren't any Sudanese girls my age, so here I can make friends with the same social experience as me. As l am doing Arabic GCSE, these classes will help support me during my exam." "I have never done coding before. I will definitely pick GCSE computer science for one of my optlons. "When I go to Pimento, I can study peacehjlly without noise." "Before I came here, I did not know Arabic and I did not have many friends. l use my phone le55 and 50cialise more. Objective 2.. Capaclty bulldlng and developlng hlgh quallty opportunltles for children and young people During 2024-25, Young K&C'5 membership grew from 121 to 136 local voluntary organisations that work with an estimated 10,000 Children and young people each year. 58% of members are smaller organisations with turnovèr under £250,CX)O 60% are charities & 40% are community interest ¢ompanies 60% of members are Global Majority-led 40% of members are female-led 22% of children & young people participating in holiday programmes have special educational needs & disabilities Member organi5ation5 work across a range of areas including.. After school and holiday programmes Arts and Culture Education, learning and supplementary schools Health and wellbeing Play and sport Poverty reduction Youth and community development Partnershlps Many local businesses, universities, arts and cultur81 institutions donated free opportunities for our members including: Young K&C IA Charltable Incorporatsd OTganlsatlon NO. 1185156) John Lewis Partnership. which provided funding for holiday programmes for disadvantaged young people Open View Security Solutions. which provided funding and free IT equipment Earls Court Development Company hosted an exhibition of children's photography on Sts hoardings, as part of A Day in Your Life Photography project Cadogan E5tate5 h05ted and funded the annual Day in Your Life photography exhibition with artist Alison Jackson V&A, Natural Hlstory Museum, Chelsea physic Garden, Design Museum and Chelsea FC hosted and provided free opportunitie5 forlgcal young people and youth club5 Royal Albert Hall, National Theatre. Royal Court Theatre provided free tickets for local voung people and youth club5 Imperial College London. Morley College, Royal College of Arts provided free or low-cost venue spaces. short courses and opportunitie5 Mark Husson photography, which provided free cameras for young people as part of Day in Your Life photography project Mount Anvil, 5UPPOrting youth engagement in redesigning the Lots Road auction site United Living, provided IT and tech equipment for for Supplementary schools Milestone Hotel, provided free venue space and supported members with employment opportunities Our partnerships with public and voluntary sector partners provided essential support including working with= RBKC to funding and support for the voluntary sertor working with teams including Commissionin& Holiday Activities and Food, Early Help, Short Breaks, Local Offer, Community Safety, Communities and Youth Participation the NHS to deliver grant programmes the Met Police to provide support to members with youth diversionary activities Kensington and Chelsea Social Council, Volunteer Centre KC and the K&C Foundation to 3dvo¢ate for and support local voluntary organisations and the children and young people they serve. Tralnln8 and Networks This year we organi5ed 14 training and networking sessions (compared with 15 in 2023-241. attended by over 60 of our member organisations. funded through our partnerships with the K&C Foundation, Young Westminster Foundation and City Bridge Foundation and Lightbulb Trust. Tralnlng.. Youth worker forum, April 2024. 25 participants Fire marshal training, May, 14 participants Youth worker forum, June, 34 participants 3-day first aid, lune, 12 participants Pt)licies and procedures work5hgp, September, 22 participants Youth worker forum, October, 14 participants 12 Young K&C (A Charitable Incorporated OryJnSsatlon No. 1185156) Cultural Competency, November, 21 participants Rising Voices Network (for Global Majority leaders and emerging leaders), December, 10 participants Winter Celebration, December, 21 participants Autism Awareness, January 2025, 22 participants Storytelling and impact12-day course) March. 14 participants Understanding eating disorders, March, 14 participants Qualifications-. Youth work Award Iqualificationl October 2024. 4 sessions. 27 started Playwork 2-day intro, October 2024. 2 sessions. 15 completed We also presented at a Meet the Funder session with KCSC for each of the grant programmes Ihat we ran. Capacity building support During the year, Young K&C provided 1-2-1 advice and support to member organisations as and when needed. During the year, we made over 100 visits to member or8ani5ation5 and provided support with.. charity ￿giStratIon introductions to funder5 budgeting and financial advice, and the AMPACC full cost recovery project governance and management information finding venues for activities policy and procedure development communications and marketing support and signposting to source5 of expert advice includin8 Safeguarding, guidance from National Youth Agency and Play England, HR and free legal support from Russell Cooke lawyers. How Young K&Cs work on capacTty building makes a difference What our members say- he training on autism awarenes5 was absolutely brilliant. It was eKactly what we needed, helping us to reach our potential. So glad that I went." Local charity working with disabled Children he 5ki115 and knowledge we've gained have directly impacted our work, enabling us to support young people more effectively and share best practices within the community. IVS helped us grow both as a team and as part of a collective for positive change. Small community interest company that works with young people at risk from violence and exploitation 13 Young K&C IA Charltsble In¢orporate41 Organlsatlon No. Jl85156) Case 5tudy- Eritrean Parents and Chlklren's Assoclation IEPCAI For over 25 years, Eritrean Parents and Children's Association IEPCAI has been a place where children and young people can come together to learn, connect, and celebrate their culture. Set up and run by volunteers from the local Eritrean community, EPCA'S supplementary school, helps youn8 people build confidence in their studies, while also giving them a sense of identity and pride in their community. Running a grassroots organisation is never easy, and EPCA has faced challenges in finding affordable space, securing funding, and building the capacity of its staff team. Young K&C has been there to support them through each of these steps, helping the organisation grow stronger and more sustainable through l.'I support on staffin& venue arrangement5, and grant funding, EivinE the team the practical tools needed to move forward. Following thè sudden closure of Golborne Youth Club, EPCA found themselve5 Wlthout a venue for their supplementary school. With Young K&C's help, we were able to find a new venue, at reduced cost. through our partners at Morley College. We are grateful to Morley College for their generous support. The facilities at Morley have enabled EPCA to focus on children's learnin& rather than struggling with their venue and facilities and the high cost of venues and Spaces in our borough. During the year, EPCA staff have taken part in safeguarding, autism awareness, and impact training delivered by Young K&C. These sessions have b005ted confidence and equipped the team to better support childien and families, ensuring the supplementary school remains safe, welcoming, and inclusive. EPCA is now better placed to continue and expand its work, offering young people the educational help and community Connection they need to thrive. Objective 3: Advocacy and awareness raising with local voluntary organisatlons, chlldren and young people to support g￿atereq￿Ity and incluslon Young K&C Achlevement Awards Celebrating the achievement5 of the local voluntary sector We believe in the power of community and the importance of recognSsin8 those who make a difference to the live5 of young people. With over 136 voluntary and community sector organisations dedicated to serving more than 10,000 children and young people in our borough. the contributions of these unsung heroes often go unnoticed. The work of local voluntary organisations is rarely given enough recognition or renumeration, locally or nationally, despite the tireless work they put in to helping children and young people thrive. The Young K&C Achievement Awards are our way of honouring the remarkable achievements Young K&C (A Charitable Ineorpomted Oryalbl￿ti0n No. 1105156) of individuals and organisations Wlthin the sertor in Kensington and Chelsea. We want to change the narrative around local voluntary organisation5 by celebrating the outstanding contributions of those who consistently deliver high-quality services to local children and young people. Local voluntary and community organisations can say with pride that they are an award- winning charity following the Achievement Awards. e are all over the moon. This means so muchl.. Portobello Dance and Perfomiing Arts Scho In 2024, we hosted the first Young K&C Achievement Awards ¢e￿monY at the Instit￿ FranGais in South Kensingron. The event brought tO8ether over 40 organisation5 and 120 youth and play workers from across Kensington and Chelsea. The Achievement Award5 celebrated the borough's voluntary sector with a range of awards, including Youth Worker of the Year. Young Volunteer of the Year and 8e5t Work Supporting Young People's Mental Health and Wellbeing. amongst others. tbrouqht home the rich topestryj ronge and depth of the lo¢ol volunt)ry qnd community sector. the Incredibfy committedpeople who work in it (lor less money than they could ecrn elsewherej, and the setrlessness of people who volunteer and give so much of themselves to helping others." Local council officer Youth Volce and Participation In 2024, 18 young people were trained to play a key role in delivering our grant programme5, giving them hands-on experience in assessing funding applications and making decisions that shape the opportunities available to their peers. Their involvement ensured that our funding reflected the real needs and interests of local young people. Young people also contributed to evaluating our services, including the Holiday Activities and Food programme. Their feedback provided invaluable insight into what works well and where improvements could be made. helping us to shape more engaging and inclusive activities. Young K&C supported the first RBKC Youn8 Leaders Awards, sharing Strategit guidance and communications 5UPPOrt, which helped elevate the achievement5 of young people across the borough. Several young people were recognised in the Young K&C 2024 Achievement Awards, hi8hlighting their leadership and contributions to the community. Youth voice was also embedded through creative means through the entirely youth-led design and production of the We Are Young K&Cfilm, which captured the energy. ideas, and voices of Young people in the borough. Through training, participation. and celebration. we continue to strengthen the role of young people as active leaders and contributors in Kensington & Chelsea. Young K&C {A Charltsble Ineorporated Organlsatlon No. 1185156) Communications Our City In 2024-25, Our City Ihttps.'Ilourcity.org.ukl, developed in partnership with Young Westminster Foundation, continued to provide a platform for local young people and organisations. Over the year, the site had 44,000 users and supported 130 members. Young K&C offered 23 1..2=1 sessions to help members upload and promote their projects, increasing or8anisational capacity and visibility. The platfomi hosted a wide range of activities, enabling small voluntary organisations to reach local children and young people effectively. Young K&C Websitè The Young K&C website Ihttps.'Ilyoungkandc.org.uk/l provides information on training, funding, and resources to support members and community organisation5. In 2024-25, the 51te Teceived 14,000 users, with top pages including funding opportunities for voluntary organisations, job vacancies for youth and play worker5, and the directory of member organisations. The web51te remains a vital hub for members seeking guidance and support to strengthen their work. Newsletter and Social Media The Young K&C new51etter reached 430 recipients in 2024, with an average open rate of 59% and a click-through rate of 16%. A special edition, Monthly Members, was introduced to provide tailored updates for rnembers. On social media, Instagram was the best performing platform with 1,236 followers, sharing Content that highlights trainin& funding. and events across Kensington and Chelsea. These digital channels continue to enga8e local young people, member organisations, and partners, strengthening connections across the borough. Docurnentary Filrn Making Project In 2024, four local young people aged 16-20 took part in a documentary filmmaking project exploring socièl issues such as gentrification and housing insecurity, thanks to the RBKC Arts Fund. Over four two-hour sessions. they developed both theoretical and practical skills, including understanding documentary as an art form, camera work. interviewing. produttion. and editing. Working closely together, the participants planned, pitched, and produced a short film. The project gave them a creative outlet to express their perspectives and practical skills to add to their CVS. The project provided a valuable platform for amplifying young voices in Kensington & Chelsea. Although small in number, the participants gained confidence, built portfolios. and strengthened connections with local organisations. Advocacy and Representation Youn8 K&C continued to advocate for and with our member5 through a range of local fora includin8 Early Help Partnership, Youth Justice. Youth Violence Reduction, the Local Safeguarding Children Partnership's Children and Communities working group, Shaping Service5 for Disabled Childien board, and through our ongoing partner5hip5 Wlth the police. NHS. local funders and bu5ine5ses. Young K&C IA Ch4rStsble Incorporated Organlsatlon No, 1185156) Day In Your Llfe Photography We worked with local artist Alison Jackson IDouble Take Creativel and 8 Young K&C members IDalgart)o Trust, Earls Court Youth Club, Fit for Lrfe Youth, Harrow Club, London Sports Trust, Solidarity Sports, St Marvs Ukrainian School and Caxton Youth) to deliver 35 photographv workshop5, Wlth funding from K&C Foundation. Lightbulb Trust. Rockspring Charitable Trust, the Drapers Company and Cadogan Estates. Additional opportunities foryoung people were provided by Chelsea Physic Garden, Chelsea FC. the Design Museum, the Science Museum and the V&A. Over 400 younE people took part. 180 photos were shortlisted, profe55ionally displayed at an exhibition and prize giving at Cadogan Hall. After the exhibition, the photos were hung in the youth clubs. Thankyou and acknowlèdgements We would like to thank all of our members, partners and funders includlng John Lyon's Charlty, Royal Borough of Kenslngton and Chelsea, Kensington and Chelsea Social Councll, Kensington and Chelsea Foundation, LiBhtbulb Trust. Julia R3u5ing Foundation, Volunteer Centre Kensington and Chelsea, Cadogan Estates, College of North West London NHS Trust, Rockspring Charitable Trust and Earls Court Development Company. We would like to thank our corporate partners John Lewis Partnership, Open View Security Solutions, Mount Anvil, along with Mark Husson photography for their generou5 donation5 and in-kind support. Most of all, we would like to thank our members, the voluntary organisations of Kensington and Chelsea that work tirelessly to create better opportuntties and futures for local children and young people. Future Plans During the coming year Youn8 K&C plans to continue to work closely in partnershlp with local voluntary and community sector, public sector and private sector organisations in Kensington and Chelsea to develop and promote better opportunities for children and young people. Plans include: Developing Young K&C's grants funding programmes including.. o Distribution and evidencing impact of the Youth Empowerment Grants Programme5 o Developing a Community Solutions grant programme o Delivering our annual Small Grants programme and the Supplementary Schools grants programme Developing our capatity building support including: 17 Young K&C (A Charitable Incorporated Oryanisatbon No. 1185156) o Youth worker forums, training programme and 1-2-1 support for local voluntary organisations Advocacy and awareness raising Organising the Young K&C Achievement Award5 o Developing our Young Ambassadors programme o Developing our tommunications and advocacy work including launching a new film o Organising a Day in Your Life photography project in partnership with Alison Jackson, and the K&C Foundation Financial Review Total net incoming resources for the year was £932,960 Itompared with £907,138 in 2024-251. details of which are shown in the Statement of Financial Activities. Total expenditure for the year was £931,315 (compared with £879,499 in 2024-251. The balance of funds at the end of the year was £244,708 (compared with £243,063 in 2D24-251- The balance of unre5trirted funds carried forward includes a General Reserve of £185,379 (compared with £154.287 in 2024-251. Funds and Reserves The tru5tee5 have carefully considered the char1t￿$ needs to hold reserves for dealing with unforeseen circumstan￿5 and, to the extent that further funds permit, for investment in future activities. We have decided that a target level for the General Reserve Should be the equivalent of between 3 to 6 months of annual organisational running costs. Our current level of reserves is equivalent to 6 months njnning costs. Approved by the Trustees and signed on their behalf Andy Evans Chair Dale: Il +t 2 Young K&C (A Charitable Inrorpor•t¢d Oryanl$atlon No. 1185150) Independent examlnerfs report lo the trustees of Kensin8ton & Chelsea YPF (Charity No. 11851561 I report on the accounts of the charlty for the period ended 31 Marth 2025 whlch are set out on page5 20-31 of the Trustees Annual Report. Respective responsibilities of trustees and examiner The ¢haritY'5 trustees are re5pon5ible for the preparation of the accounts. The charit￿5 trustee5 consider that an audit is not required for this year under section 144121 of the Charities Att 2011 (the Charities Act) and that an independent examinatlon is needed. It is my responsibility to.. examine the accounts under section 145 of the Charlties Act; to follow the procedures laid down in the general Directions given by the Charity Commi55ion under section 1451Sllbl of the Charities Att: and to state whether particular matters have come to my attention. Basi5 of independent examinerfs 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 record5 kept by the chaTf(v 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 the 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 viev/ and the report is limited to those matters set out in the next statement. Independent examinerfs statement In connection with my examination, no material matters have come to my attention.. which gives me Cause to believe that In, any material respect.. the accounting records were not kept in accordance with Section 130 of the Charitie5 Act: or the accounts did not accord with the accounting records.. or the accounts did not comply with the applicable requirements concernlng the form and content of accounts set out in the Charitles IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter Considered as part of an independent examination . I have come acros5 no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the account5 to be reached. Ily Maisanda ACMA, CGMA (Chartered Management Accountant) Date.. 12 September 2025 Young K&C (A Charltèble ￿tOrpOrated Oryanlmtlon No. 11051S6) STATEMENT OF FINANCIAL AcrivmE5 INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH2025 R•stslrt•d Funds Tot4 Funds Ttstsi Fund5 Funds IkKamÈ and E*penthture IrKomln¥Resour(es Donatloos and LeBaEies Investment5 249.978 851 9llit8 851 Totsl IrKome Resource5 Resource5 Exp•rKled Dlrecttharitable e¥penditure Fundr#lsln8 ¥nd publltyty Management, Governance and admlnlstratlon 3L 9,602 7,834 71L578 913.878 9,851 10.684 7,834 Totsl Resour¢tini ￿tI￿t￿5 1nvestrnentlDcor￿ r*elYed 851 682 tlet 4•th•r•t•dfr•m lth¥ettin14¢1htths B51 Net uwl infftMn*•¢ii¥lti•i 593.764 26,658 Cash and cash equivalents atWnninIof￿1l 400.297 373.639 h ewA￿lI*￿$ at •rtd ofye¥ 994 061 22 Young K&C IA Charrtable Incorporated Oryanlsatlon No. Ila51561 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 L AccountlnR polkles Charity information Kenslngton and Chelsea YPF Is a Charitable Incorpor*ed Organi5ation ICIOI. 1.1. Accountlng Cokwentlon The financial statements hève been prepared in accordance with the KEllsin8ton and ChelsÈa YPF'S Charitable Incorporated Organi5ation Association, the Charities Act 2011 and 'Accounting and ReportinE by Charitie5'. Statement of Recommended Prartice appll£able to charitios preparing thÈir atcounts in accordantÈ with the Financial Reporting Standard applicable in the UK and Republic ef Ireland IFRS 1021 leffectlve l January 20191" The Kensington and Chelsea YPF 15 a Public Benelit Entity os defined by FRS 102. The linancial staternents h3ve departed frorn the Charities (Accounis and Reports) Regu13ti¢ns 2008 only to the extent required to provide a true and fair view. This departure has involved following the Stbtement of Recommended Practice for charities applying FRS 102 rather thèn the versien of the Statement of Recommended PracticÈ whiih is referred to in the Regulations but which slnce been wthdrawn. The finèncial 5taternents are prepared in 5terlin& which 15 the funrtional currency of the Kensington and Chelsea YPF. Monetary amounts in these financlal stètements are rounded to the nearest £. The financial Statements have been prepared underthe historical c05t convention, modified to include the revaluation of freehold properties and to include Investment properties and certain financial instruments èt fair value. The priniipal accountin8 policie5 adopted sre Set out below. L2. GoingcoDcern Atthe time of approving the financSal ststement5. the trustee5 havt a reasonable expertation thèt the Kènsin8tDn nd Chelsea YPF has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees tontinue to adopt the 8oln8 ¢ontern basis of o¢¢ounting in p￿parIng the fiDan¢ia5 ststements. L3. tharitablelunds Unrestricted funds are available for use ar ihe dis¢retion of the trustees in furtherance of their Charitable oblectives. Restricted funds are subject to specific tonditians by donor5 a5 to how they may be usÈd. The purpose5 and uses of the restrlrted funds are set out In the notes to the financial staiements. l.& Income Inrome 15 recognised when the Kensington and Chelsea YPF is legally entitled to it after any performance Conditions have bÈÈn rnet, the amounts tan be measured reliably, and ￿ is probable that intorne will be received. Grants are recoEnlsed in thefinancial ststements when due. Donations are recognised when receS¥ed. Sales are recogni5ed when the related services have been provided. Cash donations are reco8ni5ed on receipt. other donations are reco8nised once the Kensin8ton ènd Chelsea YPF ha5 been notified of the donation. unle55 perforrnance conditlOn5 requirE deferral of the arnount. Income tax recoverable in relation to donations recefved underGift Aid or deeds of covenant is re£ognised at the tSme of the donation. 23 Young K&C (A Charitable Incorporated Oryanisation No. 1185156) Legacies are recognised on receipt or otherwise if the Kensington and Chelse3 YPF has been notified of an impending distribution, the amount 15 known, and receipt is expeited. If the amount is not known, the Ip8aCV IS treated as a £ontingent asset. Accounting policies Icont.I l.S ExpEnditure Expendlture Is accounted for on an accruals basis 8nd includes irrecoverable VAT. Grants payable are recoÉnised as e¥penditure when payment 15 due to the partner organisation in accordance with the terms of the a8reement. 1.6. Cash and cash equivalents Cash and cash equivalents include cash in hond, deposits held at call with banks, other short-term liquid Investments with original maturitie5 of three months or less, and bank overdrafts. 1.7. Financial instruments The Kensington and Chelsea YPF has electetl to apply the provision5 of Section Il'Ba5ic Financial Instruments, and Section 12'0thpr Financial Instrument5155ue5' of FRS 102 to all vf its financial Instrutnents. Financial instruments are rE¢ognlsed in the Kenslngton and Chelsea YPF'S balance sheet when the KÈnsin8ton and Chelsea YPF becomes party to the centrattual provlsions of the instrument. Flnancial assets and liabllities are offset, with the net amounts presented in the financlal statements, when there is a le8ally enforceable right io set off the recoEnised èmounts and there 15 an intention to settle on a net basis or to realise the a55et and Settle the liability simultaneou51y. 8asit finantièl asset5 asic financlal assets, which include debtor5 and cash and blnk balance5. 3re initially rnea5ured at transaction price including tron51Ction costs and are 5ub5equently carried at arnortised cost Using the effectlve interest rnethod unle5$ the arrangÈmÈnt constitutps a financing transaction. where the transaction is measured atthe present value of the future receipts discounted at a market rate of interest. Financial assets cla55ified as receivable within one year are not arnorti52d. arrangement constitutes a financing transaction, where the debt instrument 15 measured at the presentvalue of the future payments discounted at a market rate of interest. Financlal liabilities classlfied as payable wlthin one year are not amortised. Debt Instrutnents ère subsequently carrled at amortlsed cost. uslng the effective Snterest rate method. Trade creditor5 are obligation5 to payfor goDds Dr servites that have been acquired in the ordinary course of operètions from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. rhey are presented as non-current liabilitle5. Trade creditor5 are recogn15ed inltially3t transaction pri£e and subsequently measured at amortised cost using the effectlve Interest method. Oerecosnition of finahtial Ilabillties Financial liabillties are derecegnised when the KenSIn￿On and Chelsea YPF'S contractual oblygaiions expire or ère d15charged or cancelled. 1.8. Employee beneffts The cost of any unused holiday entitlement Is recognised in the period in which the ernployee's services are received. 24 Young K&C IA Charltsble In¢orpor•tod Or9anlsatlon No. A1851561 Accounting policies Icont.) Termination benefits are recognlsed Immedlately ￿ an expense when the Kenslngton and Chelsea YPF Is demonstrably cornrnitted to terminate the employment of an employee or to provide termlnatlon benefits. Crill¢*l #tto¥ntln8 e$tim•tss •nd judBements In the application of the Kensington and Chelsea YPF'5 accounting policie5, the trustees are required to rnake judgements. estimates and a55umptions about the carrying amount of assets and Iiabillties that are not readlly apparent from other 50urce5. The estirnate5 and associated a55umption5 are based on historical experience and other factors that are con51derEd to be relevant. Artual rEsult5 may differfrum thE5e estimates. The estimates and undedying assumptions are reviewed on 2ri un80ing basis. R2vi5ion5 to acwunting e5tirnates are r£cognised in the period in which the estimate is revSsed where the revlsion affects only that pedod. or In the period of the revision and future periods where the revision affect5 both current and future perieds. WT4L iy TDT (S]n•tSDni•ndli¥xk•i LOLO y4111 W.ORi 7.7B5 1.5 ILS1.392 21.95Q 15.285 3ao816 523,149 2L550 .256 &lThtlr￿0r LtscalAvthoriiylnw C¢ntrxtlnCklnlÈ OihÈr .316 44757 5.wi 449.OJQ 17 L7 573 rund% TVTP I¥￿1$r￿t￿lvlbl1W￿re". loz5 IQZ5 102 C*in EJtotesLtd- Day InVourUI College olNorthYltstbndDTh. Wellnessftomwlthin Ew15Court0e¥elopmefitCompiny-Oayin Yourbfe Jvhn Le￿sPIC-C0re JohnLyon¥Cfvarity-AMPACC JohnLyoff¥Chw4ty-Co JohnLyOn¥Ch￿1Iv. conntttlntyo￿￿#&c 74.1 ?4r*i) 19.741 19.714 )IL 107Jll 107.S 41. 41.X Ken51wtOh 4ndchtlseèFouThdati¢h-￿1ThYoU1U1e The Ew4ptrsCofftpinY. Uf Tht UehtbulbTrust. Daylnyourufe The ￿￿tt￿l￿Trust.5upp1t￿ent￿rysth￿S YO￿lw￿lmSnlteIFoUndath￿ff-lÈvd UplYDuihWor* 41.( 44.921 S32 1&6J2 107. 330J16 25 Young K&C (A Ch•rltsW• Incorpor•t¢d ory￿l￿tIon No. IA45IS6) •Jp kné rf5 In¢0￿51¢￿1¥4b1e￿t1I'. ID15 AD￿L￿VIb￿lll￿WVry￿ld ChplsealRDK&CI-CO RBK&G HDIld￿A￿1¥rtyF￿DdIHAFl AIK•C-Lanast•rYouthOub HBK&C-ThSabltdY•uwPeo￿e RBKGYouEhSov4Adb7ll I(￿3￿1 315757 a￿75? 955 A8K&ts FllrnProJpEE 757 brt•Mlt*Trd lthestrnertln¢oTh 6￿kInt•res￿r*ULwld 851 £ Unr•strfct•d R•std(tqd Fund¥ Dlr•rtth4rft4ble È¥pendliur• Total IOZ4Talal Granr5 r*rectprgjectcost Expensed equipment Payr¢ll expendlture lsaiarfei employer Nl. EmployerJ pensionl Trawl andsub515ten StaMtrainln& recrultmentand cth•r5taff rosts Home worklniexptnses Pdntin& posw• •ndstsfjon•ry Hospitslrty Qther Profe55lunal Fees Teleph¢ne Duesind SubsCnPtionJ Offtce equlprnwnt Olhtrmlsctllaneouscosts 650 fi￿.379 75,581 579.813 93.397 sic65 157.514 gJ,754 279 L621 INO 614 614 478 LCQ7 1.815 L767 9.317 735 L767 9.a17 4.213 297 TOTAL Unrtslrfthd R*sld(t•d Funds F￿￿A￿l￿aNd p11￿1dty Z1Tr15Totsl Fundraisini4nd Oevelopment Markeiin8and Pdnt Evenrsand NetWor￿n1 Int*metand We￿te L462 1462 1681 1681 1462 It>TAL 9.fjoz £ 26 Young K&C (A Charltable Incorpotatsd Oryanl•atlon N•. 1105150) UNesirfrt•d Fund5 M•n•ym•rk¢ GO¥tM*nte*ndAdn￿nls1f1li0n Fund5 2025Tot 2024TDtIl Insuran[• 8ènkch•ryes A¢wuntancy&legal fees E¥remal Flnance Funrtlon Ickbooks Foa 1253 1253 3.541 3,476 1795 307 Induded underA¢count￿￿InIl lelal fees *0￿ are Independ¢ntexamlnat4on aftd as50clated I￿Ountan feEsof £flXII2024.. £Lri)Ji 10.EMplw•s St*ff Costsind kn0luTn•rts, tntho r•mun•ratlon ￿dexp•￿•S •ndth• c05tof k•y m*wemetht pÈrsonnel Staff sèlarfe5 Sooal se£u*tyeosts Empl¢Jyer peTh5ion contributi0Tr5 153.338 IL039 15.161 333 £ 2t4269 £ 16B,438 One *mplgyEe te¢eSv¢d employee ben¢fitsuf morr than W.0￿.¢20￿. 1> None of the trustees have been paid any rernuner*ipn or received ary otherbEnefit5from ernplpyThentwlth Xen$in8tofi and Chel$ea YPF orèr¢lat¢d ¢ntity.Tru$tee expEnse$ totalling EOI2024.. £0) havt beert Teimbur$Ed Inthe year. The key mana8ementpersonnel of Kenslngton and ChelseaYPFcomprSse of the trustees ènd the Chlef Exeojtlve Officer. The employee beneilts ofthe key manapmentper50nnel includln8 employerfs NIG totsl £67,2rA Theaverage numberof employee$ In the yearwere as follows.. Number Number Employees 27 Young K&C (A ¢h•rltable kncorpoT•t•d Oryaftl•atlon No. 118S156) 11. DebtOT5 2025 Trade debtors Prepayrnents afid acmied income 33,392 £ ￿.l 12 Ll•bllltl•s Falllni Wthln On• Y•ar Trnde credltors Taxation. sodal secunty and ptnsion contributlons Accrua15 Deferred Income Othercreditor5 5,724 13 756,107 178.167 £ 764353 13 D•f•rr•d Incom• McondlIa￿0￿ 8alance brought forward Arnount released Amount deferred fr)rthe year 17&167 11741671 75&107 1145,700) 178.167 Balance carrled fr>rward £ 75&107 178.167 Mon5e$ involced Underperforman￿ related grants have been deferredwhere appropriate 28 Young K&C (A Charltabl• Inr•rporntqd Ory•nlB•tlon No. Xl8515fj) 14. Restrlrt¢d Funds N¢ttransltr Irom unr•srrftt•d Openl IHnee4t31- ¢urn•ntV•Y21￿25 atJI4*I￿25 ConnKtln8Ygun8X&C Core Small Gronts Oa¥lftYourtife Dls*led Youni People Fllm PrDl•ct HAF W25 Lancasteryouthaub Level Y04rthWork Supplementarystho￿S Wellnem Fromwthln TOT X934 SL Ix 179¥ IU620J 12a0 437 791 7.817 3612flJ 61955 44Y21 13612 1642841 1448 2,329 IL1961 li.ll41 74ITXI ui 74 Aèsthdedfvnth rrlète loyants rE¢EIvedfors￿d￿rgxprnd1tYr¢Whlth h•snotbeen fullyutlll¥ed •tthe balance sheetdate. N•ttr•bthr Oy•l dÈd M•rlJ AIIPACC onnectln8YoungK&C Cor• Small Granls Day In Yourufe DlsabledYouwPeo￿e HAF W23 HAF 2¥24 Htlpini H￿￿ Hub Lancarteryouth a¥b Level Upl Youth W nt•l H￿1th Supplementtryschods TOTAL 34 51481 SQCOJ 15q030) 171746> 143ni 791 11746 34757 Iiwji 516 55,C(¢ 652 IU8281 IU9301 19.347 29 Young K&C (A Ch•rlt•blq Zneorp•rat•O Oryanloathn No. 11851Jfj) 15. AMlyl$ol nel awts b¢tweenluDds Unr•Mrfffl¢d R951rfrt¢d fwd5 funds Unrth¢fvd R•#rf¢tsd fund5 Totsl Totsi Fund b￿anceS8t31 M8rth3J254re rtpresented 185,379 59,319 247(¢ 154.287 8a776 185.379 59,329 244,x 14287 81776 241¢%3 16. from pneral donatio￿ d¢nat•d #oods and donatsd i•w¥l¢•s We oreveryBrateful ta the many individual$ and the ¢ryanisatio0s who hive supported ourwork through donatlons and fLtrndrèlsln8 events. 17. A•l•tqd pArrytrin5a¢tlon% Durln8 202412S there were no Related Party Tran5artlons 18. Cish generated from operntk*ns Surpluslldefiat) forthe year L645 27,639 Adju51ments br.. Inve5trnent incorne rocogn¢sed in 5t•t•mint gf financlal activlties MovemEnt¥ in worknn8¢•pit•l.. Ilncreasel in debtOTS IDetreasel/increase In uedltNs Inryease in deferred Income 18,392 133,3921 14,2131 15 S77.940 14L5331 C•sh yn¢rated frofflllabsothdbyl opprntlons 19. Debt KeTrsln8ton and Chelsea YPF had no debt durin8 the yiar.12024.. £01 30