**YPF TRUST (Registered charity no. 1185279)** ## **REPORT AND FINANCIAL STATEMENTS** **YEAR ENDED 31 MARCH 2021** **YPF TRUST** ## **REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2021** ## **CONTENTS** ||Page| |---|---| |**Legal and administrative information**|1| |**Trustees' report**|2| |**Independent examiner's report**|9| |**Statement of financial activities**|10| |**Balance sheet**|11| |**Notes to the financial statements**|12| **YPF TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 March 2021** **Trustees** Erik Mesel (Chair) Gareth Dixon (Treasurer) Elly Heaton-Virgo (resigned 6 November 2020) Kita Ikoku Justin Watson (resigned 21 July 2021) Thomas Benfield (appointed 20 July 2021) Mitesh Hathi (appointed 20 July 2021) **Charity reg. no.** 1185279 **Registered office** c/o John Lyon’s Charity Griffin Lodge 45a Cadogan Gardens London SW3 2TB **Independent examiner** Simon Erskine FCA FCIE DChA 61 Mortimer Road London NW10 5QR **Bankers** CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ 1 ## **YPF Trust Trustee Report: April 2020 – March 2021** ## **Structure, governance and management** YPF Trust was incorporated in England as a Charitable Incorporated Organisation on the 12 September 2019. It is governed by its Constitution. The Trust has its registered office at 45a Cadogan Gardens, SW3 2TB, London. ## **People, management and governance** There are currently five trustees on the board (who all served throughout the year and since except where stated otherwise): - Erik Mesel (Chair) - Gareth Dixon (Treasurer) - Kita Ikoku - Thomas Benfield (appointed 20 July 2021) - Mitesh Hathi (appointed 20 July 2021) In addition Elly Heaton-Virgo and Justin Watson served as trustees until they resigned respectively on 6 November 2020 and 21 July 2021. We anticipate that there eventually will be up to 10 trustees on the board. Trustee recruitment is a priority of the board and the Trust is currently actively seeking trustees. The Trustees themselves are fully responsible for recruitment of new trustees. No external bodies have any influence on this. The Trust currently has 2 members of staff: - Head Development, Layla Hall - Business Administrative Assistant: Darren Bell The Trust has recruited a CEO (Justin Watson) who will be in post from 11[th] January 2022. The Trust does not currently use volunteers but will do so in future. ## **Background** The YPF Trust is an umbrella organisation representing Young People's Foundations (YPFs) throughout England. The Trust fundraises, coordinates and advocates on behalf of Local YPFs and acts as the collective voice of the over 1300 local voluntary sector organisations that are members of their local YPF. The YPF Trust was established in order to promote thriving Children and Youth Services through the development of the Young People Foundations (YPF) model. The Trust’s main function is to support the growth and success of both the existing Young People Foundation’s (nine as of October 2021) and to assist in the establishment of new YPFs throughout England and further afield. The YPF model was created by John Lyon’s Charity, a grant making organisation, in 2014. John Lyon’s Charity were concerned about the decline of local authority youth services and decided to establish 2 **YPF TRUST** ## **TRUSTEES' REPORT For the year ended 31 March 2021** a local organisation that reimagine local youth services to better fit the changing funding climate for youth services. YPFs are local infrastructure organisations that have a broad membership from the voluntary, private and public sectors. Members are any local organisation that work with children and young people under 25. Membership is diverse and includes youth clubs, faith groups, local authority departments and local businesses. YPFs fundraise, build partnership, foster collaboration and deliver capacity building and networking programmes. Since 2016, nine YPFs have been created, Young Harrow Foundation, Young Barnet Foundation, Young Brent Foundation, Young Westminster Foundation, Young Camden Foundation, Young Ealing Foundation, Young Hammersmith & Fulham Foundation, Young Manchester and Young Kensington and Chelsea. Despite being relatively new, this model has already generated considerable interest from other funders, local authorities and central government departments keen to explore whether the model could work in other parts of the country. The role of YPF Trust is, therefore, to add a more formal structure to an expanding network, to create resources to support discussions for replication of the model elsewhere, to share the impact of the YPF model and to act as a central body enabling shared back office functions to keep overheads low and ensure YPFs are efficient in their operation and infrastructure. The working vision is **Thriving Youth Services = Thriving Youth** , recognising the critical role that universal, accessible youth services provides in the development, aspiration and potential of children and young people. In order to achieve this, YPF Trust’s mission will be geared towards ensuring that the existing Young People’s Foundations are impactful and efficient, telling the story of their successes and enabling its successful replication elsewhere. The values mirror that of the YPF’s: - _Inclusivity_ - membership of each YPF is open to any group working with children and young people, with no limit on numbers. Membership of the Trust will be of any recognised Young People’s Foundation. - _Diversity_ - YPFs value the multitude of organisations that deliver youth and children’s work. There is a need for variety in order to meet the needs of as many young people as possible. - _Collaboration_ - YPFs are non-competitive and encourage collaboration between members. The YPF Trust will foster collaboration between the YPFs and coordinate and network to the benefit of the membership, identifying strategic and other partners to support us in our mission. - _Cross-sector -_ the needs of children and young people must be addressed by the public, voluntary and private sectors as a _group_ rather than individually, and we will lead by example, engaging widely and using our national focus to engage big players. - _Grassroots_ – we recognise the value that small locally focused organisations contribute to local solutions, and we will press the YPFs to engage locally including those below the radar organisations. - _Non-delivery_ - YPFs do not directly deliver services, and neither will the YPF Trust. 3 **YPF TRUST** ## **TRUSTEES' REPORT For the year ended 31 March 2021** - _Long-term_ - YPFs are designed for the long term. They are a constant; there for local young people past the traditional three or four-year terms of funding programmes or Local Authority term in office. ## **Objectives and activities** The objects of the CIO being undertaken in the public benefit are as follows: 1. To promote the efficiency and effectiveness of charities providing services for children and young people by providing support, advice, training and other assistance. 2. To promote the effective use of resources for charitable purposes by charitable and noncharitable bodies working with children and young people by providing advice, services and consultations. 3. To advance in life and relive the needs of children and young people through making grants to organisations that do any or all of the following: - **a.** The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life. - **b.** Providing support and activities which develop their skills, capacities, and capabilities to enable them to participate in society as mature and responsible individuals provided that in the objects. ## **Public Benefit** In planning to meet the objectives we are satisfied that the activities fulfil the public benefit requirement referred to in the Charity Commission's general guidance. As well as the direct benefit to the charities that have been supported to become more effective and efficient in their work with children and young people, there is also the benefit to the children and young people themselves. The YPF Trust coordinates and supports the work of nine YPFs in London and Manchester who have over 1300 organisations as members. These organisations work with thousands of children and young people who are in need and who often fall outside the existing support structures provided by the state. The core function of the Trust is to carry out the activities that advocate, support and promote the integrity and network of the YPFs. - **Quality Assurance** (new and existing YPFs; quality mark) - **Support** (Capacity Building for YPFs, shared functionality and YPF Venue Bank) - **Advocate** (Promotion and Communication of the model) - **Collaborate** (Collaboration between YPFs and national and regional stakeholders) - **Generate** (Fundraise) ## **Achievements and performance during the time period: April 20 – March 21** ## **Back-office support systems** - Creation of YPF Brand Guidelines 4 **YPF TRUST** ## **TRUSTEES' REPORT For the year ended 31 March 2021** - Purchase of email systems and set-up of Office 365 shared functionality **Quality Assurance** (new and existing YPFs; quality mark) - Development and Design of the **YPF Starting-up Quality Mark** . Starting Up sets out to ensure that the values that we hold dear translate into the ways YPF’s operate during their first year of operation. Through the networking and collaboration that we facilitate between YPFs, we are continually challenging them to uphold these values to the highest standards, at an early stage, as a beacon of best practice in their community - We assess YPFs’ performance in a number of areas. These are mapped against the intended outcomes and longer-term impact set out within our **Theory of Change** . This tool is aimed at newly established YPFs, to support your first year of operation. Within each area, we indicate the tools and resources that our YPF-network have created and contributed, to support their development **Support** (Capacity Building for YPFs, shared functionality and YPF Venue Bank) - **Staff Wellbeing Support:** Wellbeing inspired learning and development opportunities, including resilience support training, Wellbeing grants to each YPF and facilitating Wellbeing Action Planning support session. - Completion of content to be included in the **YPF-in-Box** ; a comprehensive online toolkit that brings together the experience of establishing and running nine YPFs since 2014. This resource bank and toolkit is being made available to charities and local authorities that want to start the journey of establishing their own local YPF. Next stage, will be to bring the word version of the Box into the Internal Resources section of the YPF shared website platform. - Introduction to Centralised Learning and Development Opportunities, identified via YPF staff training needs analysis, including ½ day Project Management delivered by the FSI. - Ongoing development of the YPF Venue Bank; an air b and b style platform for venue seekers and venue providers to maximise spaces available for local groups to use for activities for children and young people. - Ongoing development of a YPF bespoke Charity Excellence Framework; The adapted **YPF Charity Excellence Framework Management Database Tool** , piloted by the Young Barnet Foundation and funded by John Lyon’s Charity, has been designed to create a unique set of questionnaires based on the individual needs of each user (including micro-charities, CIC’s and schools) that requires no expertise or training to use. The online YPF Charity Excellence Framework Management Database, takes organisations through a series of eight simple questionnaires, designed to assess, improve and track performance in a variety of fundamental areas, including: income, communications, governance, people, risk, finance & resources, strategy & operations. Any member of the nine YPF’s across London and Manchester will be able to access this bespoke framework, that has been developed as selfreview tool that will prepare them for undertaking any future Quality Marks, and subsequently demonstrating their excellence to funders. 5 **YPF TRUST** ## **TRUSTEES' REPORT For the year ended 31 March 2021** **Advocate** (Promotion and Communication of the model) - Core to the Trust’s work has been to work with local authorities and charities who want to establish their own local YPF. In the second year the Trust has worked with the following organisations: - Dorset Youth Association – in the process of “converting” - Surrey Youth Focus - in the process of “converting” - Medway Council – in the process of “starting-up” - LB Islington - LB Lewisham - Bristol City Council - Peterborough City Council - Lancaster CVS - Lancashire BME Alliance - Knowsley Youth Mutual - The Trust has also been actively engaged in the DCMS’ current review of Youth Services in England - The Trust made its own submission to the youth review on behalf of the nine YPFs - The Trust also contributed and is named on the submission of Young London Collective, which is the collective response of all the main London Youth organisations. - The Trust also contributed to the submission of the National Youth Advisory Board to the youth review. - Development and launch of YPF Trust’s website, that has been designed to build on from on the model developed by Young Harrow Foundation (a shared platform offering an agile range of core functions focussed around). The system is built in Craft (an industry standard website / system building product) and developed by Myriago, an SME based in Leicestershire who has been working in an ongoing support function since 2017 to develop, test, troubleshoot and expand the offer. YPF Trust has joined the shared YPF website platform to connect and elevate the YPF’s websites, operating under an umbrella style approach. - INTEN report - Commissioned and contributed to a comprehensive external report on the work of the YPFs during the Covid Pandemic in 2020. See the full report here - Active Social Media Accounts, designed to tap into wider audiences and raise the profile of the YPF movement / model / network - Development of YPF Promotional Video, produced by the Media Trust. See the video in full here **Collaborate** (Collaboration between YPFs and national and regional stakeholders) 6 **YPF TRUST** ## **TRUSTEES' REPORT For the year ended 31 March 2021** Establishment and facilitation of a variety of **Sub-Networks** , designed as a mechanism to enable YPF’s to achieve shared objectives and to develop efficient models of working via collaboration, sharing of good practice and tackling challenges, as collective approach within the specific area of operation. Attendance at the Sub-Networks is encouraged to be distributed amongst YPF teams, with the relevant staff member representing their respective YPF, to then feedback accordingly. Occurrence of the meetings is approximately every 12 weeks. Groups established and active in this time period include: CEO bi-monthly network Supplementary Schools Networks Fundraising Grant Giving HR Support Impact Measurement and Data Collection - Digital Support: Website ## **Generate** (Fundraise) The Trust has worked extensively to promote the work of the Young People Foundation model and has had a number of meetings with civil servants and funders as well as with other national, regional and local youth organisations. **Empowering Local Group** : Leading on a growing group of local, regional and national funders and infrastructure organisations committed to supporting place-based funding of the VCSE sector which meets the needs of children, young people and communities. We believe that more attention needs to be paid to local need at a national level, and we want to support that to happen through collaboration and investment. Our aim is to ensure that funding, and funding decisions that are made, make the most impact possible by being driven by the local needs of children and young people and the organisations that support them. We see young people, their voices, lived experiences and roles in genuine decisionmaking and change as fundamental to successful funding, and are committed to promoting the role of young people in shaping their communities and the investment’s made in their communities both locally and nationally. In the coming months, we will be bringing funders, infrastructure organisations and children and young people’s charities together to share learning, undertake new research, provide guidance on what ‘funding local well’ looks like and advocating for investment in place locally, regionally and nationally. The Empowering Local Group is part of the CYP Funder Collaboration Group, facilitated by Children in Need, and working closely with other sub-groups on national infrastructure (led by Paul Hamlyn Foundation), youth voice (led by the National Lottery Community Fund) and data and insights (led by Children in Need). ## **Finance** The Trust is in receipt of a grant towards core funding of £150,000 per annum for three years from its main funder, John Lyon’s Charity. We are into our second year of the three year grant **.** 7 **YPF TRUST** ## **TRUSTEES' REPORT For the year ended 31 March 2021** ## **Reserves Policy** The trustees have agreed to put £40,000 into reserves in the first year. This is equivalent to three months expenditure when the staff team is fully recruited. .............................................................................................................................. Signed on behalf of the Board of Trustees Erik Mesel Date: 15[th] November 2021 8 INDEPENDENT EXAMINEifs REPORT TO THE TRUSTEES OF YPF TRUST I report to the chanty trustees on my examinalwi of the xe(￿ntS of YPF Tn￿1 ￿ the yaar ended 31 March 2021 whi¢h a(e set out on pages 10 to 14. This reFQrt LS made solely to the Tnjstees. as a bJly. in 8¢cudance wth regulatsons made under se¢bon 154 of the chall1￿5 A£r 2011. My work has been undertaken so that I might stat• to the Tfuslees marters l am required lo stste to them In an Independent Examiner's report ￿a for rK> Other purpose. To the fullest extent pemiitted by law. I tjo not aceepl or assume resronsibilty lo anyone other than the Trvslees for my indepe￿￿nI 6xaminalM)n wcrk, for reFK)¢ rx for the statement I have given below. Re8pon5ibilitlés and basis of r•port As ￿ chanty's trustees you are reSp￿5th for IY* preparati￿1 of thè &c￿nts in acc¢y¢an¢e with the requI￿rne￿ts of trle Chan￿S A£t 2011 I'fv h£fl I reFKKi in re5F*d of my examinat￿ of the ¢har*y's accounts merdty AGGeFth¢ Acc(wntfftg Prth* effecb.ve for reporb.ng kwods Winning on r after 1 January 2015. Simoll ErJklnv FCA FCIE DCI 6. Mortimer Road Lond¢n NVVIO 5QFI **YPF TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2021** |**Unrestricted**
**Funds**
**Note**
**2021**
**£**
**INCOME FROM:**
Grants
2
**-**
**EXPENDITURE ON:**
Salaries
**12,000**
Pensions
**298**
Training
**234**
Staff recruitment
**1,300**
Consultancy fees
**17,720**
YPF Staff development grants
**9,000**
Marketing and print
**990**
Accountancy fees
**1,033**
Independent examination fees
**710**
Small equipment
**740**
IT and telephone
**224**
Insurance
**121**
Sundry expenses
**250**
**TOTAL**
**44,620**
**(44,620)**
**RECONCILIATION OF FUNDS:**
TOTAL FUNDS BROUGHT FORWARD
_115,715_
**TOTAL FUNDS CARRIED FORWARD**
**71,095**
**£ **
**Net income/(expenditure)**|**Restricted**
**Funds**
**2021**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
_-_
**Nil**
**£**|**Total**
**Funds**
**2021**
**£**
**-**|_Total_
_Funds_
_2020_
_£_
_150,000_| |---|---|---|---| |||**12,000**
**298**
**234**
**1,300**
**17,720**
**9,000**
**990**
**1,033**
**710**
**740**
**224**
**121**
**250**|_-_
_-_
_-_
_2,880_
_30,240_
_-_
_-_
_440_
_710_
_-_
_-_
_-_
**15**| |||**44,620**|_34,285_| |||**(44,620)**
_115,715_|_115,715_
_-_| |||**71,095**
**£ **|_115,715_
_£ _| ## **NOTE** The Charity has never received any restricted funds. The annexed notes form part of these financial statements 10 **YPF TRUST** ## **BALANCE SHEET As at 31 March 2021** |**Notes**
**CURRENT ASSETS**
Debtors
5
Cash at bank and in hand
**CREDITORS: amounts falling due**
**within one year**
6
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
Unrestricted funds:
General fund|**2021**
**£**
**£**
**472**
**75,844**
**76,316**
**(5,221)**
**71,095**
**71,095**
**£ **
**71,095**
**71,095**
**71,095**
**£ **|_£_
_4,320_
_112,545_|_2020_
_£_
_115,715_| |---|---|---|---| |||_116,865_
_(1,150)_|| ||**71,095**|_115,715_|| ||||_115,715_
_£ _| ||||_115,715_| ||||| ||||_115,715_
_£ _| The financial statements were approved, and authorised for issue, by the Trustees on 15 November 2021 and signed on their behalf by:- GARETH DIXON, Treasurer and Trustee The annexed notes form part of these financial statements 11 **YPF TRUST** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021** ## **1. ACCOUNTING POLICIES** ## _**(a) General information and basis of preparation of financial statements**_ YPF Trust is a foundation CIO (charitable incorporated organisation) registered by the Charity Commission for England and Wales. Its registered office is as shown on page 1. The charity constitutes a public benefit entity as defined by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 (SORP 2019), FRS 102, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn. The financial statements are prepared on a going concern basis under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## _**(b) Fund accounting**_ Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. No funds were received subject to specific restrictions. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. Grants given for core purposes are treated as unrestricted. The cost of raising and administering restricted funds are charged against the specific fund where permitted by the funder. The aim and use of each restricted fund is set out in the notes to the financial statements (none so far). ## _**(c) Income recognition**_ All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP 2019. Further detail is given in the Trustees' Annual Report. 12 **YPF TRUST** **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021** ## **(d) Expenditure recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. ## _**(e) Debtors and creditors receivable / payable within one year**_ Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## _**(f) Going concern**_ The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## _**(g) Judgements and key sources of estimation uncertainty**_ No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies and there are no key sources of estimation uncertainty. There were bi key assumptions concerning the future and other sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |**2.**
**GRANTS**
John Lyon's Charity|**Unrestricted**
**Funds**
**2021**
**£**
**-**|**Restricted**
**Funds**
**2021**
**£**
**-**|**Total**
**Funds**
**2021**
**£**
**-**|_Total_
_Funds_
_2020_
_£_
_150,000_| |---|---|---|---|---| The grant from John Lyon's Charity was the first of 3 annual core grants of £150,000 p.a. for the establishment and development of the YPF Trust. Due to a slippage in the time-table the second tranche of £150,000 was paid in August 2021 for the year ending June 2022. 13 **YPF TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021** |**3.**
**STAFF NUMBERS AND COSTS**
Salaries
Social security costs (Nil as covered by Employment Allowance)
Pensions|**2021**
**£**
**12,000**
**-**
**298**
**12,298**
**£ **|_2020_
_£_
**-**
**-**
_-_| |---|---|---| |||_Nil_
_£_| There was just one member of staff during the year who started work on 1 December 2020. ## **4. TRUSTEES AND RELATED PARTIES** During the year, none of the Trustees, who comprise the charity's key management personnel, received any employment benefits. or reimbursement of expenses. One of the trustees, Kita Ikoku, is the director of a company which provided consultancy services to the charity for £28,800 plus VAT (including fees of £3,600 + VAT for services provided in the 2020/1 financial year). The trustees satisfied themselves that the particular experience and expertise of the company were needed to carry out the work for which it was contracted and no further fees have been paid to the trustee concerned. There were no other related party transactions during the year. |**5.**
**DEBTORS**
**Due within one year**
Prepayments
**6.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Accruals|**2021**
**£**
**472**
**2021**
**£**
**552**
**2,799**
**1,870**
**5,221**
**£ **|_2020_
_£_
_4,320_| |---|---|---| |||_2020_
_£_
_-_
_-_
_1,150_| |||_1,150_
_£ _| 14