OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

REGISTERED COMPANY NUMBER: 11953689 (England and Wales) REGISTERED CHARITY NUMBER: 1186059

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2021

for Youth Connect South West

MHA Monahans Statutory Auditors 38-42 Newport Street Swindon Wiltshire SN1 3DR

Youth Connect South West

Contents of the Financial Statements for the Year Ended 31 March 2021

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 22

Youth Connect South West (Registered number: 11953689)

Report of the Trustees for the Year Ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To act as a resource for young people up to the age of 25 living in the united kingdom by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: (a) advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; (b) advancing education; (c) relieving unemployment; (d) providing recreational and leisure activities in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.

The promotion of social inclusion for the public benefit by preventing young people from becoming socially excluded, relieving the needs of those young people who are socially excluded and assisting them to integrate into society.

Significant activities

The charity aims to support young people in B&NES and the Southwest by providing high quality, excellent programs for young people, we believe by developing and growing the organisation we can reach more young people and their families/carers to enable them to grow to be the best they can be. Our Vision and Mission are:

o Vision - Delivering Inspiring youth services that young people want to be part of

o Mission - Supporting young people to enjoy today, prepare for tomorrow and become the people they want to be

The organisations work with young people through a range of different programs:

The range of issues have been significant during this challenging year for everyone, these include:

By supporting and working with young people to overcome these challenges we believe we further the aims of the charity.

The organisations insists that all staff receive regular supervision and an annual a professional development review. The Training Policy and training plan sets out the organisations intentions to develop and train staff, with core training and development opportunities.

All programmes are monitored and evaluated through a quality assurance system, with annual reviews. Staff are set targets which are monitored by line managers in supervision. All young people interventions are recorded on a core database which reports are produced on a quarterly basis.

Quarterly reports include meeting numerical targets as well as case studies highlighting practise.

Staffs performance and sickness are discussed at management meeting and reported to Trustees quarterly meeting via the HR subgroup.

Staff are also supported by employee assistance and wellbeing program.

Newsletters are produced by all programs internally and externally, these are aimed at staff, young people, funders, and the public.

Public benefit

The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit.

Page 1

Youth Connect South West (Registered number: 11953689)

Report of the Trustees for the Year Ended 31 March 2021

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Charity has met its charitable objects through the activities of the organisation.

The organisation restructured to be able to support organisational growth, this enabled YCSW to grow by 3.5% percentage in this financial year.

Feedback from commissioners and funders of this work appreciate the effort and perseverance of staff to deliver work and support to young people.

Overall the charity has made excellent progress meeting its objectives and continues to grow.

FINANCIAL REVIEW

Financial position

The organisation has had a successful second year with a surplus on unrestricted funds of £164,684. This has meant the organisation has been able to place significant funds in reserves ensuring the sustainability of the organisation.

This has led to the ability to further develop the infrastructure to meet the demands of a growing organisation.

The core contract currently underpins the financial stability as we grow this will become more balanced and core costs will be spread across all contracts.

Restricted funds held at 31 March 2021 in relation to grants and government restricted funding are £195,149.

Significant events that have affected financial performance and financial position during the period and the principle risks and uncertainties are:

The key significant effect has been the impact of COVID, the organisation dealt with this well and all programmes and funding continued.

However, the Southside youth and community centre were closed for most of this financial year which resulted in loss of income from letting, anchor tenants and the café provider also left.

The Charity applied for COVID recovery funding for loss of income for the building and was successful, we also received a small amount of furlough for two part time members of staff.

A business continuity and risk plan were developed and reviewed to assess the organisational financial risk, as a whole organisation we continued to grow and develop and received positive feedback from funders and commissioners regarding our resilience and ability to support our young people.

The organisation is currently undertaking strategic analysis and development of the organisation working towards a new strategic plan both organisationally and financially which it expects to have completed by March 2022.

The most significant factor likely to effect financial performance is the need to ensure the full cost recovery model is implemented to ensure a sustainable organisation. This will ensure that the organisation infrastructure has sufficient capacity to support the expected growth.

The reopening of Southside youth and community centre has meant letting income is increasing, we also took the decision to run our own cafe.

Page 2

Youth Connect South West (Registered number: 11953689)

Report of the Trustees for the Year Ended 31 March 2021

FINANCIAL REVIEW

Principal funding sources

The Early help commissioned contract with Bath and North East Somerset Council, plus contacts for youth work and other programs with a number of parish councils and Bath College are the charity's principle funding sources. The charity has also received a number of grants and donations from local and national grant making charities.

Reserves policy

At 31 March 2021, total funds held were £486,836 of which £195,149 are held in restricted funds and £125,000 in designated funds.

The reserve policy has been agreed and approved by Trustees at the Trustee management meeting on 5 October 2020, the adoption of this policy was immediate, and finance has been placed in reserves. The charity will continue to work towards developing the reserve required by maintaining full cost recovery model on all programs and analysing programs that are not covering all costs to ensure sustainability.

Current free reserves are £167,000, this is slightly over the £146,000 required in our reserves policy. Given the level of organisation growth we are in the process of reviewing the Reserve Policy and expect the required level of reserves to increase above £167,000.

Separate from the reserve we have created a designated fund for transition at the end of the BANES contract the following (taken from Reserve Policy):

"YCSW was established as a Public Service Mutual and it first 5 years of operation is supported by a significant contract by Bath and North East Somerset and supported through a transition agreement. At the end of the 5-year contract YCSW will need to ensure it has a lasting infrastructure and this period will be a significant transition with associated costs. This designated fund for the transition will incorporate:

The target for the designated fund for transition is £125,000 by 2024, this target has been achieved and we will set aside £125,000 aside for transitions.

This figure will be reviewed annually. Further designated budgets maybe assigned within the YSCW strategic plan. "

PLANS FOR FUTURE PERIODS

The organisation is undertaking a strategic review of its management and business infrastructure to enable the further development of the growth model.

Growth plans include

o Youth work o Learning 4 work o Partnership 4 learning o Employability

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are recruited through an interview process, following applications made in response to either advertisements in our newsletter and public media; or word of mouth from current trustees/staff/volunteers. Trustee appointments can be ratified at any meeting of the Trustees, and are formally adopted at the AGM.

There were no new appointments of Trustee in this period.

Page 3

Youth Connect South West (Registered number: 11953689)

Report of the Trustees for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The charity has 8 Trustees, one Trustee is the CEO and one is a staff representee in line with the organisation being a Public Service Mutual.

Trustees meet quarterly where they receive reports from the CEO and sub committees, at these meeting Trustees will review the organisation development, receive the subcommittee minutes, requests, and act accordingly.

Policies and procedures are approved by the Trustees board, day to day decisions making is delegated to the CEO and the senior management team.

Induction and training of new trustees

All Trustees receive an induction pack which contains the constitution, roles and responsibilities, key policies and expected knowledge and information they need to possess to be an effective trustee. They are also sent regular updates from the charity commission and these are discussed at the Trustee meeting. Trustee are expected to attend training provided by the local voluntary sector networks which we are members of. The organisation also joined the funding regulator and developed fundraising Policy.

Trustees also undertook training regarding Trustee's roles and responsibilities.

Trustees will be taking part in a business development program to ensure the future viability and sustainability of the Charity.

Key management remuneration

Trustees supported the senior management team to develop a matrix for assessing staff pay and remuneration, this is reviewed on an annual basis and referred to when creating new roles and reviewing pay.

Relationships with related parties and any other charities and organisations

The organisations is a member of the following networks:

The organisation works with other network members to deliver its charitable aims and draws up terms of reference and partnership agreements to help ensure the work is delivered successfully. If there is a lead partner and financial involvement a contract will be drawn up.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Fund-raising Standards Information

The charity does not carry out significant fundraising activities and does not undertake direct marketing. All fundraising activities are monitored by the CEO and the trustees and a fundraising policy is in place. The charity does not use a professional fund-raiser or commercial participator. The charity has not received any complaints about its fundraising.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

11953689 (England and Wales)

Registered Charity number

1186059

Registered office

Southside Youth Hub Kelson View Whiteway Bath BA2 1NR

Page 4

Youth Connect South West (Registered number: 11953689)

Report of the Trustees for the Year Ended 31 March 2021

Trustees

Ms J Fielder C D Gerrish R F Hopkins Ms G Millar Ms T L Pike Rev A S Pitt Ms S Reynolds R E Walker (appointed 6.7.21)

Senior management personnel

Chief Executive Officer - T Pike Operational manager - S Plummer

Auditors

MHA Monahans Statutory Auditors 38-42 Newport Street Swindon Wiltshire SN1 3DR

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Youth Connect South West for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, MHA Monahans, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ R F Hopkins - Trustee

Page 5

Report of the Independent Auditors to the Members of Youth Connect South West

Opinion

We have audited the financial statements of Youth Connect South West (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Page 6

Report of the Independent Auditors to the Members of Youth Connect South West

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the provision of youth services, we identified that the principal risks of non-compliance with laws and regulations related to safeguarding, health and safety, employment law, Companies Act 2006 and Charity Law, and we considered the extent to which non-compliance might have a material effect on the financial statements of the charity. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Statement of Recommended Practice.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to revenue recognition, management override, and potential lack of segregation of duties. Audit procedures performed by the audit engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and the transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Other matters which we are required to address

The prior year figures are unaudited.

Page 7

Report of the Independent Auditors to the Members of Youth Connect South West

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Fraser (Senior Statutory Auditor) for and on behalf of MHA Monahans Statutory Auditors 38-42 Newport Street Swindon Wiltshire SN1 3DR Date: .............................................

Page 8

Youth Connect South West

Statement of Financial Activities for the Year Ended 31 March 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
5
Youth and Community Services
Other trading activities
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Youth and Community Services
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
42,632
850,337
3,344
896,313
-
731,629
731,629
164,684
127,003
291,687		 Restricted
funds
£
271,275
-
-
271,275
-
92,271
92,271
179,004
16,145
195,149		 Year Ended
31.3.21
Total
funds
£
313,907
850,337
3,344
1,167,588
-
823,900
823,900
343,688
143,148
486,836		 Period
4.11.19
to
31.3.20
Total
funds
£
13,077
396,864
-
409,941
826
265,967
266,793
143,148
-
143,148

The notes form part of these financial statements

Page 9

Youth Connect South West (Registered number: 11953689)

Balance Sheet
31 March 2021
Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS/(LIABILITIES)
FUNDS
18
Unrestricted funds:
General fund
Designated fund - transition costs
Restricted funds
TOTAL FUNDS		 2021
£
3,498
256,049
361,915
617,964
(134,626)
483,338
486,836
486,836
166,687
125,000
291,687
195,149
486,836		 2020
£
3,969
519,567
85,671
605,238
(466,059)
139,179
143,148
143,148
127,003
-
127,003
16,145
143,148

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

C D Gerrish - Trustee

The notes form part of these financial statements

Page 10

Youth Connect South West

Cash Flow Statement for the Year Ended 31 March 2021

Period
4.11.19
Year Ended to
31.3.21 31.3.20
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 276,813 90,073
Net cash provided by operating activities 276,813 90,073
Cash flows from investing activities
Purchase of tangible fixed assets (569) (4,402)
Net cash used in investing activities (569) (4,402)
Change in cash and cash equivalents in
the reporting period 276,244 85,671
Cash and cash equivalents at the
beginning of the reporting period 85,671 -
Cash and cash equivalents at the end of
the reporting period 361,915 85,671

The notes form part of these financial statements

Page 11

Youth Connect South West

Notes to the Cash Flow Statement for the Year Ended 31 March 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Period
4.11.19
Year Ended to
31.3.21 31.3.20
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 343,688 143,148
Adjustments for:
Depreciation charges 1,040 433
Decrease/(increase) in debtors 263,518 (519,567)
(Decrease)/increase in creditors (331,433) 466,059
Net cash provided by operations 276,813 90,073
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 85,671 276,244 361,915
85,671 276,244 361,915
Total 85,671 276,244 361,915

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 12

Youth Connect South West

Notes to the Financial Statements for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

Youth Connect South West is a charitable company limited by guarantee, without share capital, incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address and principle activities of the charity can be found in the Trustees' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.

There are no significant areas of judgements or key sources of estimation uncertainty.

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of:

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories in the Statement of financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particulate activity are allocated directly. Support costs, including governance costs, are apportioned on the basis of estimated aggregate time expended on each activity.

Tangible fixed assets

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

Fixtures and fittings

Page 13

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

2.

ACCOUNTING POLICIES - continued

Tangible fixed assets Motor vehicles - 20% on straight line basis

Financial instruments

The charity has minimal exposure to customer credit risk, liquidity risk and market risk. Please refer to the risk section of the trustees annual report for information on how risks are managed. The charity does not have any non basic financial instruments.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Redundancy/termination payments

Termination benefits are measured at the best estimate of the expenditure required to settle the obligation at the reporting date. If the expected settlement date of the termination payments is 12 months or more after making the provision and the effect would be material, the present value of the obligation is calculated using an appropriate discount rate.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Retirement benefits to employees are also provided by the Local Government Pension Scheme ('LGPS'). This is a defined benefit scheme.The LGPS is a funded multi-employer scheme and the assets are held separately in separate trustee administered funds. The LGPS is managed by Avon Pension Fund. On termination all the assets and liabilities of the charity will be subsumed by the Council into its pot within the Pension Fund, and the Pension Fund will not request a termination payment from the charity. Therefore Bath and North East Somerset Council are liable for the LGPS deficit and as such any deficit on the scheme is not recognised in these accounts. The LGPS is treated as a defined contribution scheme in these accounts.

Page 14

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

3. DONATIONS AND LEGACIES

Year Ended
31.3.21
£
Donations
313,907
Gift aid
-
Donated services, facilities and fixed assets
-
313,907
4.
OTHER TRADING ACTIVITIES
Year Ended
31.3.21
£
Other income
3,344
5.
INCOME FROM CHARITABLE ACTIVITIES
Year Ended
31.3.21
Activity
£
Grants
Youth and Community Services
-
Youth work sessions and
other support
Youth and Community Services
316,916
Contract for services
Youth and Community Services
525,395
Souths Youth Hub lettings
Youth and Community Services
8,026
850,337
Grants received, included in the above, are as follows:
Year Ended
31.3.21
£
Bath and North East Somerset council
-
Government Grant/Contract Income:
2021
£
Bath and North East Somerset Council - contracts
545,584
Bath and North East Somerset Council - grants
237,443
National lottery
9,968		 Period
4.11.19
to
31.3.20
£
8,577
500
4,000
13,077
Period
4.11.19
to
31.3.20
£
-
Period
4.11.19
to
31.3.20
£
22,781
149,731
212,966
11,386
396,864
Period
4.11.19
to
31.3.20
£
22,781
2020
£
230,100
-
-

There were no unfulfilled conditions or other contingencies attached to these grants/contracts. The charity has not directly benefited from any other forms of government assistance.

Page 15

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

6. RAISING FUNDS

Raising donations and legacies

Year Ended
31.3.21
£
Consultancy
-
7.
CHARITABLE ACTIVITIES COSTS
Direct
Support
Costs (see
costs (see
note 8)
note 9)
£
£
Youth and Community Services
601,970
221,930
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Year Ended
31.3.21
£
Staff costs
548,467
Activities and session delivery costs
34,548
Insurance
-
Premises
12,465
Travel
4,684
Printing and stationery
120
Advertising
-
Sundries
586
Professional fees
-
Other staff costs
60
Depreciation
1,040
601,970
9.
SUPPORT COSTS
Governance
Management
costs
£
£
Youth and Community Services
208,535
13,395
Support costs, included in the above, are as follows:
Year Ended
31.3.21
Youth and
Community
Services
£
Wages
143,085
Social security
12,391
Pensions
24,317
Insurance
8,007
Postage, IT and stationery
3,328
Advertising
8,196
HR, wellbeing and training
9,211
Auditor's remuneration
13,395
Carried forward
221,930		 Period
4.11.19
to
31.3.20
£
826
Totals
£
823,900
Period
4.11.19
to
31.3.20
£
174,706
2,237
3,189
9,823
2,893
4,338
436
805
2,278
1,152
433
202,290
Totals
£
221,930
Period
4.11.19
to
31.3.20
Total
activities
£
46,714
4,384
9,888
-
-
-
-
-
60,986

Page 16

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

9. SUPPORT COSTS - continued

SUPPORT COSTS - continued
Year Ended
31.3.21
Youth and
Community
Services
£
Brought forward
221,930
Accountancy and legal fees
-
221,930		 Period
4.11.19
to
31.3.20
Total
activities
£
60,986
2,691
63,677

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
4.11.19
Year Ended to
31.3.21 31.3.20
£ £
Auditor's remuneration - Auditing of the accounts 7,850 -
Auditor's remuneration - Other non-audit services 5,545 -
Depreciation - owned assets 1,040 433
Accountancy and independent examination - 1,500

11. TRUSTEES' REMUNERATION AND BENEFITS

The Trustee, T Pike, is employed by the Charity, as per the Charity's constitution, as Chief Executive Officer, and earned gross salary of £47,945 (2020: £19,488) and employers pension contribution of £11,123 (2020: £4,511).

The Trustee, S Reynolds, is employed by the Charity as a youth worker and is the staff representative on the board, and earned gross salary of £22,168 (2020: £10,104) and employers pension contribution of £5,143 (2020: £2,338).

The above only receive remuneration in respect of staff members under their contracts of employment, and not in respect of their role as trustees.

There were no other trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the period ended 31 March 2020.

12. STAFF COSTS

STAFF COSTS
Year Ended
31.3.21
£
Wages and salaries
603,356
Social security costs
45,507
Other pension costs
79,397
728,260		 Period
4.11.19
to
31.3.20
£
189,429
13,864
32,399
235,692

Page 17

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

12. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Year Ended
31.3.21

Management
4
Business team
6
Targeted
12
Youth work
10
Learning 4 work
5
Southside
4
41		 Period
4.11.19
to
31.3.20
3
3
10
8
4
2
30

No employees received emoluments in excess of £60,000.

Key management personnel for the charity comprises the Trustees, the Chief Executive Officer and the operational manager. The total employee benefits for key management personnel of the charity were £137,488 (2020: £59,386).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
4,000
Charitable activities
Youth and Community Services
369,317
Total
373,317
EXPENDITURE ON
Raising funds
826
Charitable activities
Youth and Community Services
245,488
Total
246,314
NET INCOME
127,003
TOTAL FUNDS CARRIED FORWARD
127,003		 Restricted
funds
£
9,077
27,547
36,624
-
20,479
20,479
16,145
16,145		 Total
funds
£
13,077
396,864
409,941
826
265,967
266,793
143,148
143,148

Page 18

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

14. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income
17.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
£
Fixed assets
3,498
Current assets
422,815
Current liabilities
(134,626)
291,687		 Fixtures
and
fittings
£
402
569
971
100
240
340
631
302
Restricted
funds
£
-
195,149
-
195,149		 Motor
vehicles
£
4,000
-
4,000
333
800
1,133
2,867
3,667
2021
£
209,937
46,112
256,049
2021
£
2,052
18,927
2,247
12,409
98,991
134,626
2021
Total
funds
£
3,498
617,964
(134,626)
486,836		 Totals
£
4,402
569
4,971
433
1,040
1,473
3,498
3,969
2020
£
512,199
7,368
519,567
2020
£
4,754
10,822
105,247
8,971
336,265
466,059
2020
Total
funds
£
3,969
605,238
(466,059)
143,148

Page 19

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated fund - transition costs
Restricted funds
Southside Community Library
Radstock Youth Hub women's project
Mobile Bus start up costs
Youth work
Grow it, Cook it
Wesport - Outreach
Affordable food projects
Police Community Trust Action fund
MSN rotary
Wellbeing
Annett Trust
Section 106 and Community Infrastructure
Levy funding
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
Restricted funds
Southside Community Library
Radstock Youth Hub women's project
Youth work
Knife Crime
Grow it, Cook it
Quartet Community Grant
Palace of Wonder
Wesport - Outreach
Affordable food projects
COVID response
Police Community Trust Action fund
Serious Youth Violence - Music Project
Serious Youth Violence - Graffiti Project
IAG
Midsomer Norton Lions Club
Holiday food
MSN rotary
Wellbeing
Annett Trust
Section 106 and Community Infrastructure
Levy funding
TOTAL FUNDS		 At 1.4.20
£
127,003
-
127,003
5,000
998
5,647
4,500
-
-
-
-
-
-
-
-
16,145
143,148
as follows:

Page 20

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Southside Community Library
Radstock Youth Hub women's project
Mobile Bus start up costs
Youth work
TOTAL FUNDS		 Net
movement
in funds
£
127,003
5,000
998
5,647
4,500
16,145
143,148		 At
31.3.20
£
127,003
5,000
998
5,647
4,500
16,145
143,148

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Crush project
Set up funding
Southside Community Library
Radstock Youth Hub women's project
Southside
Mobile Bus start up costs
Youth work
TOTAL FUNDS		 Incoming
resources
£
373,317
3,579
4,547
5,000
998
10,000
8,000
4,500
36,624
409,941		 Resources
Movement
expended
in funds
£
£
(246,314)
127,003
(3,579)
-
(4,547)
-
-
5,000
-
998
(10,000)
-
(2,353)
5,647
-
4,500
(20,479)
16,145
(266,793)
143,148		 Resources
Movement
expended
in funds
£
£
(246,314)
127,003
(3,579)
-
(4,547)
-
-
5,000
-
998
(10,000)
-
(2,353)
5,647
-
4,500
(20,479)
16,145
(266,793)
143,148
16,145
143,148

Restricted funds

Crush Project - Crush is a 10 week awareness raising and support programme to help young people make safe and healthy relationship

Set up funding - funding from BANES to cover the charity's initial costs

Southside Community Library - funding from BANES for Southside community library including IT equipment, storage, furniture and event costs.

Radstock Youth Hub women's project - funding from Radstock Town Council to run a young women's project

Southside - funding from BANES for Southside

Mobile Bus start up costs - funding from BANES for the start up costs for the mobile bus

Youth Work - donations from the Medlock Trust and Henry Hoare and Co for the provision of youth work.

Palace of wonder - support the provision of early mental health support for anxious children and young people

Wesport- Outreach - Funding to deliver an outreach programme and online support to young people in hard to reach communities

Page 21

continued...

Youth Connect South West

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

18. MOVEMENT IN FUNDS - continued

Affordable food projects - to contribute towards supporting families and individuals in Whiteway and Twerton.

COVID response - National lottery funding for detached youth work

Police community trust action fund - funding to tackle issues in their local area relating to the priorities set out in the Police Crime Plan.

Serious Youth Violence - Music project - funding to help prevent serious youth violence through music

Serious Youth Violence - Graffiti project - funding to help prevent serious youth violence through graffiti art project

MSN Rotary Club - funding to support the young people in BANES through the purchase of laptops, assistance technology, short college courses and driving lessons

IAG - funding for two young people to join the Youth Independent Advisory Group

Holiday food - to provide food during the school holidays

Section 106 and Community Infrastructure Levy funding - funding for Bath youth work

Designated funds

This designated fund is for:

-Provision for Management continuity

19. EMPLOYEE BENEFIT OBLIGATIONS

The charity is a member of the Avon Pension Fund, a Local Government Pension Scheme, which is a defined benefit scheme. In these accounts it is treated as a defined contribution scheme as Bath and North East Somerset Council are liable for the deficit. The cost for the period was £75,629 (2020: £31,878).

The charity also makes payments to The People's Pension, a defined contribution scheme. The cost for the period was £3,569 (2020: £355).

At the balance sheet date contributions of £11,694 (2020: £8,156) were payable to the schemes.

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 22