Registered Charity Number :- 1193521
BILLY YOUTH ENGAGEMENT PROJECT
TRUSTEES9 REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR END 31 October 2024
BILLY YOUTH ENGAGEMENT PROJECT Selby Centre AX107, Selby Rd
London
BILLY YOUTH ENGAGEMENT PROJECT
CONTENTS
FOR THE YEAR ENDED 31 October 2024
TRUSTEES' REPORT ............................................................................................................................... 3 INDEPENDENT EXAMINER'S REPORT ..................................................................................................... 10 Independent examiner's report to the Trustees of Billy ............................................................................ 11 Youth Engagement Project ..................................................... 11 Responsibilities and basis of report ......................................... 11 Independent examiner's statement ............................................. 11 STATEMENT OF FINANCIAL ACTIVITIES ........................................................................................................... 12 BALANCE SHEET .................................................................................................................................................... 13 NOTES TO THE FINANCIAL STATEMENTS ......................................................................................................... 14
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BILLY YOUTH ENGAGEMENT PROJECT
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
Our main objective for the year is to continue our long-standing purpose of helping more people to enjoy playing sport and being physically active. We believe that by removing existing barriers to sport and activity, we can be part of a bigger picture of work that helps to address many of society9s biggest challenges. The strategies we used to meet these objectives included
Our main objective for the year is to continue our long-standing purpose of helping more people to enjoy playing sport and being physically active. We believe that by removing existing barriers to sport and activity, we can be part of a bigger picture of work that helps to address many of society9s biggest challenges. The strategies we used to meet these objectives included
Billy Youth Engagement Project charity had an income of £149,588.49 in the year and is eligible for independent examination. As the charity is below the larger charity threshold it may also prepare a simple annual report (refer to CC15d Charity Reporting and Accounting: The essentials and the Charities (Accounts and Reports) Regulations 2008). An Independent Examination of Charity Accounts9 for further examples of examiner9s reports is also included.
The trustees9 annual report CC16b pro forma
Trustees do not have to use the pro forma to write their annual report but the form includes all the information trustees must provide and gives an opportunity to provide further optional information if the trustees so wish.
The 8Summary of the main activities undertaken9 also includes confirmation that the trustees have had regard to our guidance on public benefit when planning the charity9s activities. Further information about is provided in a 8Summary of the main achievements9 Additional voluntary information is provided about the contribution made by volunteers, collaboration with other organisations and details of the charity9s main policies and future plans. In addition, the report confirms that the trustees received no remuneration or other benefits from the charity.
The report includes a risk management statement which also refers to compliance with the applicable national standards. The charity9s objects, aim, strategy and major activities undertaken are summarised in the objectives and activities section. The achievements and performance section provides a detailed information about the nature of the activities undertaken, including performance information, for each of the main areas of charitable activity. These areas of charitable activity map to note 4 to the accounts
Note the reserves policy includes an explanation of the target level of reserves, the reserves held, and the charity9s plans to increase its reserves (paragraph 55).
Purposes and Aim
Our charity9s purposes as set out in the objects contained in the charity9s constitution are to
Benefit the public by provision of educational and recreational activities aimed at improving the physical, mental and social welfare of young people within London and surrounding area.
The aims of our charity are to help more people to stay away from crime, anti social behaviours and gang related activities, enjoy playing sport and being physically active. We
believe that by removing existing barriers to sport and activity, we can be
part of a bigger picture of work that helps to address many of society9s
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TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
biggest challenges
Ensuring our work delivers our aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission9s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The focus of our work
Our main objective for the year is to continue our long-standing purpose of helping more people to enjoy playing sport and being physically active. We believe that by removing existing barriers to sport and activity, we can be part of a bigger picture of work that helps to address many of society9s biggest challenges. The strategies we used to meet these objectives included
1) Providing a range of sport and physical activities which are reflective of relevant quality standards and address the potential problems related to life-changing, sustainable benefits that have huge economic and social value.
2) Focusing upon limiting the crime, anti-social behavior and gang activities which comes with idleness, not only for the
individual but also their family and friends and the wider community of London.
3) Working in partnership with other agencies to secure range of services is available that best matches the needs of its client population.
How our activities deliver public benefit
Our main activities and who we try to help are described below. All our charitable activities focus on the provision of educational and recreational activities aimed at improving the physical, mental and social welfare of young people and are undertaken to further our charitable purposes for the public benefit.
Who used and benefited from our services?
Our objects and funding limit the services we provide to those residents in London. The number of young people Londoners is estimated at (22.7% of total population) and the number of people accessing our activities is estimated at approximately 1250. Our funding limits those we can help, for example, our Football/Basketball Activities and After-school Club can only deal with 1200 individual clients at any time. Demand for our services is open to all young people and based an initial assessment of an
individual9s personal commitment to seeking help. All our services are provided free to our clients. Equal access to our services is an important issue for us. In addition to our current monitoring of access to our services by gender, disability and sexual orientation next year will see the publication of our first ethnicity monitoring study. We are aware from a baseline study undertaken this year, using data available on the Neighborhood Statistics website, that Black and minority ethic communities are disproportionately represented in deprived areas of our communities. We believe equal access to our services is vital to our success and that successful outcomes must be shared by all
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BILLY YOUTH ENGAGEMENT PROJECT
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
communities that use our services.
The peak age for anti-social behavior and gang related activities is late 149s with crime committed peaking 3 in the 15 18-year age group. It is estimated that males represent 72 per cent black ethnic minority users. Our monitoring suggests those that we are able to help broadly reflect these statistics. Our information services are targeted at those between the ages 12 and 20 who are regarded as the age group primarily at risk and represent 18 per cent of Londoner's population. Further information about who benefits directly from our services is explained in the analysis of performance and achievements below. However, the impact of our work goes far beyond those we help directly and includes reducing the distress suffered by the families and friends of users through to impact on crime where it is estimated that in London up to 40 per cent of crime is gang related.
The main areas of charitable activity are the provision of sport and physical activity, advice and information; outreach work; and the operation of a training project for former gang member. These activities and the achievements that flow from our work are described below.
Sport and Physical activity
Sport and Physical activity project are based at the central office in Selby Centre Tottenham and provides opportunities for young people to get involved in sport and activity. Funding for sport and physical activity project is primarily provided by the Go London Funds, Community Funds Awards and Sports England and is sufficient to employ 4 members of staff. The mainstay of our service remains our volunteers who provide advice and distribute information leaflets. In the year under review over 2,000 volunteer hours were donated. We produced five new leaflets for our activities and the dangers of anti-social behavior and gang culture in addition to the existing leaflets on drug abuse and vaping abuse. Leaflets are made available in communities centers. Feedback from community9s centres, football coaches and youth workers is that the plain English style has helped in both giving advice and stimulating conversation and debate. Only through Sport and Physical activity can those at risk and the vulnerable realise the dangers and avoid the pitfalls. Over 5,000 leaflets were distributed in the year. Individual advice is provided at drop-in Sport and Physical activities. Some 220 people regularly used the drop-in football activities during the year with over 1200 individual sporting and Physical activities being held. In addition to breaking social exclusion and stigma, we aim to provide a friendly face and a sympathetic ear. We were able to help in a variety of tangible ways and where appropriate can also arrange referrals to our partners where assistance is needed in relation to housing, debt, or social service-related issues. We are pleased that by working with our partners we can offer a holistic approach to the problems arising from social isolation. Our Sporting service is partly funded by Arnold Clark and JD Sport Foundation on the basis of a performance related grant which is restricted to our Sport and Physical activity work.
We are pleased that by working with our partners we can offer a holistic approach to the problems arising from social isolation. Our Sport and Physical activities is funded by Go London Funds, Community Funds Awards and Sports England on the basis of a performance related grant which is restricted to our Sport and Physical work.
As a result of the Sport and Physical activity, another Billy Youth Engagement Project support group has been set up on the Lower Road in Southwark. Over 20 young people are currently involved in this project and the demand continues to grow. In addition to providing Sport and Physical activity, with some 600 leaflets distributed, the group is an opportunity for young people to share experiences and learn about how best to connect with their communities. This sharing has reduced
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TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
the sense of hopelessness, and all the young people have been able to talk openly with their friends in a supported environment.
The receipt of a donation from Arnold Clark and JD Sport Foundation, specifically to assist in the provision of sporting and Physical activities has enabled the purchase of a new computer and database software to be used to organise information and make it more easily accessible for volunteer youth workers.
Outreach
The outreach work of the charity provides support to young people who are vulnerable or falling into gang culture. This work continued to expand in the year under review. At the beginning of the year, we had set a target to reach 150 young people and to make our other services available to them. Although due to difficulties in recruiting staff our target could not be reached, we were nevertheless, able to directly help 118 young people through our program during the year. Our strategy is to complement the social services and youth worker roles by providing specific staff trained in recognising and talking to young people suffering a gang problem. By a mixture of personal approaches, referrals and partnership working we hope to create the trust needed for children and young people experiencing gang grooming and abusing drugs to talk about their problem and seek help without feeling that they are being blamed, or at risk of prosecution. By explaining the services available to them and by developing support networks of former drug abusers, we hope to change and rescue lives from the misery of gang groomers and drug abuse. The outreach service also runs a health and awareness clinic including a grooming awareness program and the provision of launderette facilities. Healthy eating, including physical activities, is a significant health issue. By providing Healthy eating and a physical activity, we reduce the likelihood of obesity and avoid the risk of diabetes.
The training project continues to be focused on drop-in centre. This activity was initially funded through a grant from Go London Funds Council but is now funding from gift aid payment received from, HRMC. Our South London Centre continues to provide a bright and cheerful atmosphere and hosts all sorts of activities, including art exhibitions, jazz evenings and other theme evenings.
Financial Review
Against the backdrop of limited resources and insecurities over funding, it has continued to be difficult to plan or develop services. Nevertheless, the charity, with the aid of sound financial management and the support of both its staff and volunteers generated a very positive financial outcome for the period with a net increase in funds of just over £36,570.32. Its success in obtaining new funding for 2023/24 from Go London Funds and Sports England, to reflect the attendance from these services, will provide much needed additional resources.
Principal Funding Sources
Aside from the income generated by the charity donation and gift aids, the principal funding sources for the charity are currently by way of grant a from Go London Funds, Community Funds Awards and Sports England . As a result of increasing constraints on local authority expenditure, the charity has to seek funding from a much broader group of agencies. The involvement of the charity with the
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TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
other charity is proving particularly useful in identifying possible opportunities for a much wider range of funding for the future.
Investment Policy
Aside from retaining a prudent amount in reserves each year most of the charity9s funds are to be spent in the short term so there are no funds for long term investment. Having considered the options available, the trustees have decided not to invest in commercial common investment funds. Grants received in advance are invested on kept in the bank. A review of investment policies is therefore planned early in the new financial year
Reserves Policy
The trustee has examined the charity9s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. Budgeted expenditure for 2023/24 is £103,359.94 and therefore the target is £149,588.49 to £205,000 in general funds. The reserves are needed to meet the working capital requirements of the charity, and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. Whilst income funds stand at £149,588.49 a designation of £11,418.00 has been set aside for the purchase of equipment for the training project and further £10,000 funds the office equipment of the charity. The present level of reserves available to the charity of £24,810.55 therefore increased significantly higher of this target level. Although the strategy is to continue to build reserves through planned operating surpluses, the trustee is well aware that it unlikely that the target range can be reached for at least five years. In the short term the trustee has also considered the extent to which existing activities and expenditure could be curtailed, should such circumstances arise.
Plans for Future Periods
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Plans are also being developed to work on a number of schemes with local employers and local job centres to place youth workers who have been through our training projects on mentoring schemes which it is hoped will lead to long-term gainful employment.
Structure, Governance and Management
Governing Document
The organisation is a charitable organisation incorporated on 23rd April 2014 and registered as a charity on 01 April 2020. The charity was established under a constitution which established the objects and powers of the charitable organisation and is governed under its constitution. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
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BILLY YOUTH ENGAGEMENT PROJECT
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
Recruitment and Appointment of Management Committee
The Chair of the Charity are also charity trustees for the purposes of charity law and known as trustee. Under the requirements of the charity constitution the trustee of the charity are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
All trustee of the charity gives their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts. Mr. Lorans Leau will retire by rotation and being eligible, offer themselves for re-election.
Due to the nature of gang culture and anti-social problem in London much of the charity9s work inevitably focuses upon young people. The Trustee seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising in the local newspaper and networking with local councils, sought to identify vulnerable young people who would be willing to become members of the organisation and use their own experience to assist the charity.
The more traditional young people skills are well represented on the trustee committee. In an effort to maintain this broad skill mix, members of the trustee are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the trustee
Induction and Training
Most trustees are already familiar with the practical work of the charity having been encouraged to take up the East London of the Advice Centre and the Outreach Work offered as part of the two <charity membership open days= that are run each year. Additionally, new trustees are invited and encouraged to attend a series of short training sessions (of no more than an hour) to familiarise themselves with the charity and the context within which it operates. These are jointly led by the Chair of the Charity Trustee.
Risk Management
The Management Committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre. The continuing implementation of safeguarding standards and the adoption ensure a consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
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BILLY YOUTH ENGAGEMENT PROJECT
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 October 2024
Organisational Structure
Billy Youth Engagement Project has a trustee committee of up to 5 trustees who meet quarterly and are responsible for the strategic direction and policy of the charity. At present the trustees has five trustees from a variety of professional backgrounds relevant to the work of the charity.
The Secretary also sits on the trustee but has no voting rights.
A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the charity chair along with the Services and Finance and Administration Managers.
The Chair is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Services Manager has responsibility for the day-to-day operational management of the Centre, individual coach of the staff team and also ensuring that the team continue to develop their skills and working practices in line with good
practice.
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BILLY YOUTH ENGAGEMENT PROJECT
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 October 2024
I have completed my independent examination of Billy Youth Engagement Project accounts for the 2023/24 financial year and can confirm that in the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
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Proper accounting records are kept (in accordance with section 130 of the 2011 Act and
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Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act; or
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To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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The accounting records of the Billy Youth Engagement Project are as always of a high standard and are maintained by an experienced officer in accounting and bookkeeping. I note that new accounting arrangements have been introduced for the 2024/25 accounting period. As in previous years, there are no issues of concern that require reporting.
Testing completed
The following tests were completed:
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I confirmed that opening balances were brought forward correctly.
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undertook an analytical review of income and expenditure. For receipts and payments accounts the analytical review involves comparing the analysis of the cash received and the cash spent in the current year with the previous year to identify any significant changes from year to year and to seek explanation for any material variances. I received satisfactory explanations for the variances identified from the Treasurer.
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I confirmed that bank reconciliations are completed regularly and re- performed the October 2024 bank reconciliation and verified balances held to independent sources;
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I confirmed that the Receipts and Payment Account is derived from the electronic cashbook records maintained (combination of cash and bank cashbooks) and the petty cash book (manual book); (1)
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I confirmed that all income received (by the Treasurer) has been banked intact and in timely manner.
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I confirmed that payments made are supported by invoices or other valid supporting evidence (sample testing); (1)
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I confirmed that petty cash disbursements are adequately supported by receipts (sample testing); (1)
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I confirmed that wage payments are correctly calculated based on hours worked and that there is evidence of acknowledgement of receipt by staff (sample testing); (1) I utilised the Charity Commissions recommended checklist for Independent
Examiners in conducting my review .
The questions in this checklist are designed to help the examiner to undertake their independent examination in accordance with the legal requirements and good practice recommendations set out in the
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BILLY YOUTH ENGAGEMENT PROJECT
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 October 2024
Commission's guidance on independent examination of charity accounts: Directions and guidance for examiners (CC32). (1)
Balances held
I confirmed that the funds reconciliation sheet in the accounts includes the correct funds carried forward balance at 31.10.24 of £58,336.55 is represented by funds held within the Billy Youth Engagement Project current and deposit accounts. All balances have been agreed to independent sources.
Independent examiner's report to the Trustees of Billy
Youth Engagement Project
I report to the trustees on my examination of the accounts of the Billy Youth Engagement Project Charity for the year ended 31st October 2024.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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The accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sembeh Sesay FCCA Jeremiah Sembeh Sesay FCCA
350 Bastable Avenue Barking Essex 350 Bastable Avenue Barking Essex
Date: 20th November 2024
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BILLY YOUTH ENGAGEMENT PROJECT
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 October 2024
| Recommended categories by activity Notes Income and endowments from: Donations and legacies 2 Total Expenditure on: Charitable activities 3 Other 5 Total Net income/(expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds £ Restricted income funds £ Total Funds 2024 £ Total Funds 2023 £ 53,188.49 96,400.00 149,588.49 - |
|---|---|
| 53,188.49 96,400.00 149,588.49 - |
|
| 22,556.48 74,982.00 97,538.48 - 5,821.46 - 5,821.46 - |
|
| 28,377.94 74,982.00 103,359.94 - |
|
| 24,810.55 21,418.00 46,228.55 - |
|
| 24,810.55 21,418.00 46,228.55 - 9,968.17 1,300.00 11,268.17 - |
|
| 34,778.72 22,718.00 57,496.72 - |
12
| Recommended categoriesby activity Current assets Cash at bank and in hand 6 Total current assets Total net assets or liabilities Funds of the Charity Unrestricted funds 7 Restricted income funds 7 Endowment funds 7 Total funds Notes |
24,810.55 21,418.00 46,228.55 24,810.55 21,418.00 46,228.55 Unrestricted Restricted Total Funds Total Funds funds income funds 2024 2023 £ £ £ £ |
24,810.55 21,418.00 46,228.55 24,810.55 21,418.00 46,228.55 Unrestricted Restricted Total Funds Total Funds funds income funds 2024 2023 £ £ £ £ |
|---|---|---|
| 24,810.55 21,418.00 |
46,228.55 | |
| 34,778.72 22,718.00 |
34,778.72 9,968.17 22,718.00 1,300.00 |
|
| 34,778.72 22,718.00 |
57,496.72 11,268.17 |
The financial statements were approved by the Board on 15-Nov-2024 and signed on its behalf by:
LORANSLEAU November 2[nd] , 2024 Chair
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BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
1 Accounting Policies
1.1 Accounting Policies
The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.
1.2 Basis of preparation
These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts 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)= (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
These accounts are presented in pounds sterling and rounded to the nearest pound.
1.3 Going concern
The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.
1.4 Change of accounting policy
These accounts have been prepared to give a 8true and fair9 view
1.5 Changes to accounting estimates
No data, however, if client enters any data it should be appeared in the report
1.6 Income from donations or grants
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable, and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal or is made in writing. If a donation or grant contains terms and conditions outside of the charity9s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.
1.7 Legacies
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BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
1.8 Government grants
The charity has received government grants in the reporting period. The charity received grant from Sports England, Go London Funds and Community Funds Awards
1.9 Tax reclaims on donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
1.10 Contractual income and performance related grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
1.11 Donated goods
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
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" a) Donated goods for distribution to beneficiaries the cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
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" b) Donated goods for resale Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.
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" c) Donated goods and services capitalised as Tangible fixed assets Goods donated for on-going use by a charity in carrying out its activities are recognised as tangible fixed assets with the corresponding gain recognised as income from donations within the SoFA.
1.12 Donated services and facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
1.13 Income from charitable activities
Income from charitable activities is recognised over the period to which the income relates. Concert fees are recognised at the date of the event. Membership fees are recognised over the period of the membership. Rent is recognised over the period to which it relates. Any amounts relating to future periods are deferred.
1.14 Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
1.15 Investment gains and losses
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
1.16 Expenditure
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.
Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.
Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent.
All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.
Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.
1.17 Pensions
The Charity makes contributions to defined contribution pension schemes through auto enrolment. These contributions are charged to the income and expenditure account in the year in which they become payable.
1.18 Taxation
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BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
The organisation is a registered charity and has no liability to income tax or corporation tax on its charitable activities during the year.
Value added tax is accounted for on an accruals basis.
1.19 Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
1.20 Financial instruments
Charities preparing accounts normally measure a basic financial asset or basic financial liability on its initial recognition at the amount receivable or payable adjusted for any related transaction costs. However, if initially measured at fair value, transaction costs are not included in the measurement of financial assets or liabilities; instead, the transaction costs are treated as an expense. If extended credit is offered, the accounting treatment depends on those extended credit terms. The subsequent measurement of financial assets and financial liabilities depends on their nature and settlement dates. The carrying amount must be calculated without any deduction for transaction costs that may be incurred on sale or disposal.
1.21 Fund accounting
Unrestricted funds are those funds which 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.
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.
1.22 Critical accounting estimates and judgements
In the application of the charity9s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
1.23 Intangible fixed assets
Intangible fixed assets are non-monetary fixed assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. Intangible fixed assets include goodwill purchased on the acquisition of a business and/or purchased intangible assets such as
18
BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
concessions, patents, licences, trademarks and similar rights. Although such assets lack physical substance they provide an on-going economic benefit to the charity.
Intangible fixed assets are capitalised and included at cost and are amortised on a straight-line (or a more appropriate systematic) basis over their useful economic lives on the following basis:
Note: Provide an option to add rows as per user requirement.
We have to provide the above tabular form in the accounting policy screen to enter details manually and upon saving the data, it should appear in the report without headings.
1.24 Tangible fixed assets
Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Note: Provide an option to increase rows as per user requirement.
We have to provide the above tabular form in the accounting policy screen to enter details manually and upon saving the data, it should appear in the report without headings.
19
BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
2 Income from Donations and Legacies
| Analysis Donation and gifts Donations General grants provided by Government/other charities Gift Aid |
Unrestricted funds £ 41,384.00 (520.00) - 12,324.49 53,188.49 |
Restricted income funds £ - - 96,400.00 - 96,400.00 |
Total funds 2024 £ 41,384.00 (520.00) 96,400.00 12,324.49 149,588.49 |
Total funds 2023 £ - - - - - |
|---|---|---|---|---|
Purposes of Restricted Funds
Computer equipment: This was a grant for computer equipment used in conjunction with database software to organise information and make it accessible for volunteer counsellors. The balance is reducing as the computers depreciate. Advice and Information: The fund is for the advice and information activity as explained in the trustees9 report.
Sport and Physical activity
This is a fund for Sport and Physical work with young people who are vulnerable or falling into gang grooming. The balance arose from a delay in using grants which were given for the purpose of appointing new staff. Staff were appointed late in the year and all the fund will be utilised in forthcoming months.
Outreach: This is a fund for outreach work with young people who are vulnerable or falling into anti-social behavior and drug misuse. The balance arose from a delay in using grants which were given for the purpose of appointing new staff. Staff were appointed late in the year and all the fund will be utilised in forthcoming months.
Purposes of Designated Funds Training Project Equipment :
The Trustees has designated funds for purchase of new equipment in the training project. Revaluation Reserve Fund:
3 Expenditure on Charitable Activities
| Analysis Volunteer expenses After-school Club Football/Basketball Activities Light, Heat & Power Charity running cost Employee costs Printing and stationery Support Costs |
Total funds 2024 £ 4,205.00 8,474.43 16,509.00 3,440.00 23,473.00 35,000.00 277.00 6,160.05 97,538.48 |
Total funds 2023 £ - - - - - - - - - |
|---|---|---|
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BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
4 Support Costs
| upport Costs | ||
|---|---|---|
| Analysis Governance Costs Accountants9fees |
Total funds 2024 £ 6,160.05 6,160.05 |
Total funds 2023 £ - |
| - |
5 Other Expenditure
| Analysis Material item expense Other Expenditure |
Unrestricted funds £ 2,965.00 2,856.46 5,821.46 |
Total funds 2024 £ 2,965.00 2,856.46 5,821.46 |
Total funds 2023 £ - - - |
|---|---|---|---|
6 Cash at bank and in hand
| Cash at bank and on hand | Total funds 2024 £ 46,228.55 46,228.55 |
Total funds 2023 £ - |
|---|---|---|
| - |
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BILLY YOUTH ENGAGEMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 October 2024
7 Charity funds
7.1 Details of material funds held and movements during the CURRENT reporting period
| Fund names Unrestricted funds Restricted income funds Total |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ 9,968.17 60,503.81 (40,639.89) - - 29,832.09 1,300.00 20,937.50 (20,529.04) - - 1,708.46 |
|---|---|
| 11,268.17 81,441.31 (61,168.93) - - 31,540.55 |
7.2 Details of material funds held and movements during the PREVIOUS reporting period
| Fund names Unrestricted funds Restricted income funds Total |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ - 83,018.17 (73,050.00) - - 9,968.17 - 30,000.00 (28,700.00) - - 1,300.00 |
|---|---|
| - 113,018.17 (101,750.00) - - 11,268.17 |
7.3 Transfers between funds This Year
| Amount | ||
|---|---|---|
| £ | ||
| Between unrestricted and restricted funds | - | |
| Between endowment and restricted funds | - | |
| Between endowment and unrestricted funds | - |
Last Year
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