2024-03-31-accounts

RISE FUTURES

(A CHARITABLE INCORPORATED ORGANISATION)

CHARITY NO. 1193852

TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

RISE FUTURES

CONTENTS

	Page
Legal and administrative information	3
Trustees’ Report	4-6
Independent Examiners’ Report	7
Statement of financial activities	8
Balance Sheet	9
Notes to the Accounts	10-14

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RISE FUTURES

LEGAL AND ADMINISTRATIVE INFORMATION

TRUSTEES:	Matthew Roche
	Paul Hood
	Chanelle McKeon
	Sarah Hunter
CHAIRTY NUMBER:	1193852
REGISTERED OFFICE:	PO Box 1118
	STOCKTON-ON-TEES
	TS19 1BT
INDEPENDENT EXAMINER:	Samantha Nicholson FMAAT
	Nicholson & Co (Sheffield) Ltd
	Knowle House
	4 Norfolk Park Road
	SHEFFIELD
	S2 3QE
BANKERS:	Barclays Bank
	Leicester
	Leicestershire
	LE87 2BB

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RISE FUTURES

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees of the charity presents their annual report and the financial statements for the year to 31 bMarch 2024.

Structure, governance, and management

Rise Futures is a Charitable Incorporated Organisation, and was registered by the Charity Commission on 18 March 2021.

It has a Trustee Board which was elected at its first Annual General Meeting on 7 December 2020 and is ultimately accountable for the conduct of the organisation.

Trustees formally meet on a quarterly basis with day-to-day operations managed by one of the trustees, Sarah Hunter. Risks are identified and recorded on a risk register that is discussed and updated during the quarterly trustee meetings.

Rise Futures works with a number of local authorities and businesses to identify suitable young people for paid business placement opportunities. Rise Futures also works with a variety of individuals who act as a business mentor to those involved in placement programmes.

Several of the businesses that Rise Futures work with are connected with one or more trustees as set out below:

• Paul Hood is employed by and is a director of Yondr Group Limited, a company which has provided placement opportunities and financial contributions to Rise.

• Matt Roche is the Operating Partner of Cathexis. Cathexis owns Yondr, of whom provides placement opportunities, volunteer time and financial contributions to Rise Futures.

• Chanelle McKeon is executive assistant to Matt Roche

Serving trustees in the reporting period were:

Matthew Roche (appointed March 2021) Paul Hood (appointed March 2021) Chanelle McKeon (appointed March 2021) Sarah Hunter (appointed March 2021)

Objects, activities and performance

The object of Rise Futures is to act as a resource for young people living in England and Wales by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

1. 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;

2. Advancing education;

3. Relieving unemployment.

The trustees believe that Rise Futures’ objectives are satisfied by providing opportunity and support to care-experienced 17 to 24 year-olds who are looking to enter a working environment. Our 16-week paid opportunity placements offer young people the

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RISE FUTURES

scaffolding to change direction, breaking down barriers and supporting them to access their safe and fulfilling futures. This is achieved by creating safe working environments and mentors who provide support and assistance in entering and understanding the norms of a work environment.

Specifically, Rise Futures’ paid placement opportunities enables young people to:

1. Understand the work environment and different careers.

2. Understand the value of money and how to spend / save it wisely.

3. Have the belief, awareness and motivation to gain employment.

4. Develop soft workplace skills - time management, attitude, listening and speaking skills, work ethic, teamwork, decision making, problem solving.

In the period to 31/03/2023 - 31/03/2024 Rise Futures arranged placement opportunities for 9 young people. In the same period, Rise Futures also commenced stage interventions (i.e. meeting with young people to understanding their needs and aims, providing general support, guidance and mentoring) with 17 young people.

Financial Review

Rise Futures’ principal sources of funds come from corporate donations. Funds are also sourced from formal and informal fundraising activities (e.g. sponsored events) undertaken by Rise Futures’ trustees and volunteers.

Budgets are prepared on an annual basis and reviewed at the quarterly trustee meetings. Rise Futures’ policy is to maintain sufficient funds for the following 12 months of anticipated expenditure. The main categories of expenditure are salaries of Rise Futures’ employees and the salaries paid to young people during their 16-week business placement opportunities.

Statement of Trustees' responsibilities

The Trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of the surplus or deficit of the Charity.

In preparing those financial statements the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• state whether the applicable accounting standards have been followed, subject to

• any material departures disclosed and explained in the financial statements;

• make judgments and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its work.

The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which are sufficient to show and explain the Charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 / Charities Act 2031, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity's constitution.

They are also responsible for safeguarding the assets of the charity and hence for

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RISE FUTURES

taking reasonable steps for the prevention and detection of fraud and other irregularities, this report was approved by the Matt Roche.

Matthew Roche Chair

Matthew Roche

signed on 11/02/2025, 17:51:40 GMT

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RISE FUTURES

INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 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 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 which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 130 of the Act or

• the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

signed on 12/02/2025, 09:38:56 GMT S Nicholson BA (Open) (Hons) FMAAT Nicholson & Co Accountancy

Knowle House 4 Norfolk Park Road SHEFFIELD S2 3QE

Date: 12/02/2025

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RISE FUTURES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Notes Unrestricted funds Restricted funds £ £ Incoming resources from generated funds Grants and donations 2 53,754 0 Investment income 3 0 0 0 0 Incoming resource from charitable activities 4 41,010 0 Total incoming resources 94,764 0 Resources expended 5 Raising funds 0 0 Charitable activities 6 128,859 0 Depreciation 0 0 Other 934 0 Total resources expended 129,793 0 Net income/(expenditure) for the year Net movement in Funds (35,029) 0 Fund balances at brought forward 100,487 0 Fund balances to carried forward 65,458 0	Total 2024 £ 53,754 0 0 41,010 94,764 0 128,859 0 934 129,793 (35,029) 100,487 65,456	Total 2023 £ 164,718 0 0 0 164,718	Total 2023 £ 164,718 0 0 0 164,718	Total 2023 £ 164,718 0 0 0 164,718
		0 100,472
		0 1,021 101,493		0 1,021
		63,225 37,262 100,487	63,225 37,262

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006 and has been prepared on the basis that all operations are continuing.

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BALANCE SHEET AS AT 31 MARCH 2024

Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand LIABILITIES Creditors: Amounts falling due within one year 11 Amounts falling due over one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES INCOME FUNDS Restricted funds 12 Unrestricted funds SHAREHOLDERS’ FUNDS	2024 0 65,716 65,716 (778) 0	520 520 65,458 65,458 65,458 0 65,458	2023 0 100,407 100,407 (570) 0	650 650 100,487	650
				100,487 100,487 0 100,487

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

11/02/2025

The accounts were approved by the Board on _____.

Matthew Roche

Matthew Roche signed on 11/02/2025, 17:51:40 GMT Chair

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RISE FUTURES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

1.1 Company Information

The company is a charitable incorporation organisation, and it is registered at 24 Greville Street, London, EC1N 8SS.

The principal business activity is providing opportunities and support to care-experienced 17 to 24 years olds who are looking to enter a working environment.

1.2 Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in Sterling (£)

1.3 Going Concern

After reviewing the companies’ forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

1.4 Incoming resources

Donations and grants received are allocated between restricted and unrestricted funds and between the difference types of incoming resources according to their nature. Grants for revenue expenditure and capital expenditure are recognised in the statement of financial activities on a receivable basis.

Other incoming resources, including investment income, are recognised in the statement of financial activities on a receivable basis.

1.5 Resources expended

Resources expended are recognised in the year in which they are incurred and include irrecoverable VAT. Resources expended are allocated to heading within the statement of finance activities based on the actual purpose of the expenditure.

Charitable activities represent the direct costs incurred in the provision of the company’s services, and include all support costs.

Governance costs represent the cost of managing and administrating the company as a statutory vehicle

1.6 Pensions

The charity operates a defined contributions scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.9 Accumulated funds

Restricted funds are subject to specific conditions by donors as to how they may be used. The purpose and uses of the restricted funds are set out in the notes to the accounts.

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RISE FUTURES

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2. GRANTS AND DONATIONS

			2024	2023
			£	£
	Donations and gifts		0	0
	Yondr	51,858		140,405
	Just Giving		1,896	13,697
	Rebellon		0	8,015
	Lendlease		0	2,200
	Benevity		0	400
	Other donations		0	0
		53,754		164,717
3.	INVESTMENT INCOME
	Interest receivable		0	0
4.	INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
		Unrestricted	Restricted	Total	Total
		funds	funds	2024	2023
		£	£	£	£
	Charitable activities	41,010	0	41,010	0

Included within income relating to community activities are the following grants

Unrestricted Rental Income Others Restricted Logitek Other	Total 2024 Total 2023 £ £ 0 0 41,010 0 41,010 0 0 0 0 0 0 0

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RISE FUTURES

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5. TOTAL RESOURCES EXPENDED

Community activities Community activities Activities undertake directly Grant funding of activities Total Other costs	Staff costs Depreciation £ £ 100,274 0 0 - 100,274 0 0 130 100,274 130	Other costs £ 27,528 1,057 28,585 804 29,389	Total 2024 £ 127,802 1,057 128,859 934 129,793	Total 2023 £ 100,471 - - 100,471 1,021 101,493

Other costs include payments to the independent examiner of £804 for independent examination fees.

6. ACTIVITES UNDERTAKEN DIRECTLY

Other costs relating to community activities: Project costs Advertising & Marketing Insurance Consultancy IT Software & Consumables Subscription & Memberships Telephone & Internet Travel & Subsistence Postage Bank Charges	2024 £ 20,176 1,254 401 0 514 40 809 3,816 396 122 27,528	2023 £ 10,882 (50) 421 942 785 300 1.428 2,498 432 68 17,706

7. TRUSTEES

During the year Sarah Hunter was employed by the charity during the year. This was approved by the trustee in a fair and reasonable procurement process and approved by the charities commission.

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RISE FUTURES

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8. EMPLOYEES

Number of employees The average monthly number of employees during the year was: Employees Trustees Volunteers Employment costs Wages and salaries Social security costs Other pension costs Other Staffing costs	2024 £ 13 5 20 38 67,878 21,877 5,849 4,670 100,274	2023 £ 4 5 10 19 69,405 10,074 2,751 536 82,766

There were no employees whose annual remuneration was £60,000 or more. The highest paid staff member received £27,854 during the year.

9. TANGIBLE FIXED ASSETS

		Fixtures,
		fittings &
		equipment
		£
	Cost
	At beginning of year	0
	Additions	867
	At End of year	867
	Depreciation
	At beginning of year	217
	Charge for the year	130
	At End of year	347
	Net book value
	At End of year	520
	At beginning of year	650
10.	DEBTORS
		2024	2023
		£	£
	Trade debtors	0	0
	Amounts owed by group undertakings	0	0
		0	0

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RISE FUTURES

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2024	2023
	£	£
Trade creditors	376	168
Loans	0	0
Taxes and social security costs	0	0
Other creditors	0	0
Accruals	402	402
	778	570

12. RESTRICTED FUNDS

The income funds of charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purpose:

	Balance at	Incoming	Resources	Balances
	start of	resources	expended	at year
	year			end
	£	£	£	£
Logitek	0	0	0	0
	0	0	0	0

13. SUMMARY OF FUND MOVEMENT

Unrestricted funds Restricted:	Balance brought forward Income Expenditure Balance carried forward £ £ £ £ 100,487 94,764 129,793 65,458 100,487 94,764 129,793 65,458

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