REGISTERED CHARITY NUMBER: 1195348
Report of the Trustees and Unaudited Financial Statements for the Year ended 31 July 2024 for FRESH YOUTH MILTON KEYNES
FRESH YOUTH MILTON KEYNES
Contents of the Financial Statements for the Year ended 31 July 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statements of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statements of Financial Activities | 9 |
FRESH YOUTH MILTON KEYNES Report of the Trustees for the Year ended 31 July 2024
The trustees presents their report with the financial statements of the charity for the year 1 August 2023 to 31 July 2024. 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) and with the Charities Act 2011.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1195348
Registered office
Suite 6, 3rd Floor Margaret Powell House Midsummer Boulevard Milton Keynes MK9 3BN
Trustees
Alexander Pinheiro Folashade Komolafe Uzochikwa Nwuga Akinola Omotesho Appointed 01/02/2024 Kerion Komolafe Appointed 01/02/2024
Secretary
A Komolafe
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Fresh Youth Milton Keynes is a Charitable Incorporated Organisation. It is governed by its charitable objective and controlled by the Trustees for the purpose of the law.
Principal Activity
The principal activity of the Charity in the year under review was to act as a resource to young people up to the age of 25 living in Milton Keynes providing advice, assistance and organising educational programmes/activities.
Risk management
The trustees have addressed the major risks to which the charity is exposed, in particular those relating to specific operational areas of the charity and its finances. The trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity has one main objective:
To act as a resource for young people up to the age of 25 in Milton Keynes.
It pursues this objective through the provision of advice, assistance, and educational training that supports developing life and other skills, capacities and capabilities to enable them paticipate and contribute in society.
Plans for the future
The charity will continue to grow its resources, educational and skills, training programmes and experienses in in any other way necessary to help the youths that comes through its doors in the Milton Keynes area. The charity will use its resources in an effective manner adopting locally, nationally and internationally tested ideas and methods, existing activities and initiating new programmes and activities that will benefits the youths.
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FRESH YOUTH MILTON KEYNES
Report of the Trustees for the Year ended 31 July 2024
The last year has been challenging with the UK social and economic climate of which Milton Keynes is not exempt There is a huge fall in volunteering and charity support due to the high cost of living and the drive for employees to go back to office-based working, away from the post-pandemic flexible home-based working. The number of volunteers reduced by 40%, and the availabilty to volunteer was not very aligned to the youth-friendly hours.
We made changes to our service in the last year to ensure we deliver value to the beneficiaries of our service. The school mentoring programme was revised to group workshops with an opportunity for those who want one-to-one mentoring to have that in between fortnightly workshops. We continue to serve the mentees who are not in school, through skills training support, while community mentoring remains one-to-one for social intervention and behavioural change and empowerment.
FYMK's sessions in the last year equated to 1,575 mentoring hours over the nine months in schools and 115 mentoring hours in the community.
Workshops and Group Sessions:
The workshops have been very powerful with the incorpration of entertainment and gaming competition. This allows some of the quiet, reserved mentees and young people to engage. This has really improved the social interaction and confidence building of the young people.
We delivered six sessions for young people aged 12-16. The workshop covered the following themes of the youth development framework:
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Leadership and Participation - Project planing,
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Economic and financial wellbeing - Further education, work placement
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Creativity and Fun -Activities that challenge and critical thinking
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Skills Development -Web site updates, audio editing
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Identity and Belonging - Self-awareness and equality and diversity
120 young people count, with 44 unique attendees. The sessions were designed and delivered by young professionals, local businesses, education and youth workers
Community Partnerships
The mentoring programme for young people at risk in continues to engage local agencies involved with youth welfare. As we continue serving the young people, we seek oportunities to support their parents as well. A stable family will always create a good environment for a young person to develop.
We engage other professionals by signposting to experts, which ensures we provide the service possible for young people to cultivate good habits and the right decision-making, embed the behaviours and continue to improve.
Thanks And Appreciation
We are particularly thankful to our donors, funders, management and the operations team and volunteers who have been so generous in their sacrificial contributions of time, efforts and finances to the ongoing work of FYMK to see young peoples' lives transformed for the better.
Approved by order of the board of trustees on 24 April 2025 and signed on its behalf by
A Pinheiro - Trustee
Page 2
FRESH YOUTH MILTON KEYNES
Statements of Financial Activities for the Year ended 31 July 2024
| Notes INCOME AND ENDOWMENTS FROM Donations, Gifts, Grants and legacies 2 Investment Income Total EXPENDITURE ON Raising funds 4 Charitable activities Total NET (EXPENDITURE)/INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 2023 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £ 7623 41850 49473 63292 - - - - |
|---|---|
| 7623 41850 49473 63292 0 28140 28140 24883 21453 13710 35163 23287 |
|
| 21453 41850 63303 48170 |
|
| (13830) 0 (13830) 15122 34122 0 34122 19000 |
|
| 20292 0 20292 34122 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities
The notes form part of these financial statements
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FRESH YOUTH MILTON KEYNES
Balance Sheet At 31 August 2024
| Balance Sheet At 31 August 2024 |
||
|---|---|---|
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank Prepayments CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
2024 2023 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £ 1740 - 1740 1806 5861 - 5861 4899 7629 - 7629 27721 5462 5462 |
|
| 20692 - (400) - |
20692 34426 (400) (304) |
|
| 20292 - |
20292 34122 |
|
| 20292 - |
20292 34122 |
|
| 20292 - |
20292 34122 |
|
| 20292 34122 - - |
||
| 20292 34122 |
The financial statements were approved by the board of Trustees on 24 April 2025 and were signed on its behalf by
A Pinhneiro - Trustee
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FRESH YOUTH MILTON KEYNES
Notes to the Financial Statements for the Year ended 31 July 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:
the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102
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.
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 cost cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment 20% on cost- straight line
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. Restriction arises 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.
2. ACTIVITIES FOR GENERATING FUNDS
| National Lottery ForMK MK Community Foundation Grants - [Somali community fund] Grants - [Benevity] Other Income |
2024 2023 £ £ 41850 44250 0 4500 0 10000 0 3000 4623 1191 3000 351 |
|---|---|
| 49473 63292 |
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FRESH YOUTH MILTON KEYNES
Notes to the Financial Statements for the Year ended 31 July 2024
3. INVESTMENT INCOME
| Deposit account interest 4. RAISING FUNDS Raising donations and legacies Management charges Support costs 5. TRUSTEE'S REMUNERATION AND BENEFITS There were no trustee's expenses paid for the year ended 31 July 2024. 6. STAFF COSTS Administration The average monthly number of employees during the year was as follows: 7. TANGIBLE FIXED ASSETS Cost At 1 August 2023 Additions At 31 July 2024 Depreciation At 1 August 2023 Charge for year At 31 July 2024 NET BOOK VALUE At 31 July 2024 At 31 July 2023 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors |
2024 2023 £ £ - - 2024 2023 £ £ 28140 24883 35163 23287 2024 2023 £ £ - - 2024 2023 £ £ 17352 11932 2 2 Equipment Fixtures & Totals Fittings £ £ £ 2257 - 2257 481 481 |
2024 2023 £ £ - - |
|---|---|---|
| 2024 2023 £ £ 28140 24883 35163 23287 |
||
| 2024 2023 £ £ - - |
||
| 2024 2023 £ £ 17352 11932 |
||
| 2738 2738 |
||
| 451 - 451 547 - 547 |
||
| 998 - 998 |
||
| 1740 - 1740 |
||
| 1806 - 1806 |
||
| 2024 2023 £ £ 5861 4899 |
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FRESH YOUTH MILTON KEYNES
Notes to the Financial Statements
for the Year ended 31 July 2024
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Taxation and Social security Accruals and deferred income |
2024 2023 £ £ 0 104 400 200 |
| 400 304 |
10. MOVEMENT IN FUNDS
| 10. MOVEMENT IN FUNDS | ||
|---|---|---|
| Unrestricted funds General fund Restricted fund Restricted fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Grants TOTAL FUNDS |
Net Transfers movement between At 01.08.23 in funds funds At 31.07.24 £ £ £ £ 34122 (13830) - 20292 - - - - |
|
| 34122 (13830) - 20292 |
||
| Incoming Resources Movement resources expended in funds £ £ £ 7623 (21453) (13830) 41850 (41850) - |
||
| 49473 (63303) (13830) |
11. RELATED PARTY DISCLOSURES
There are no related party transactions for the year ended 31 July 2024
Page 8
FRESH YOUTH MILTON KEYNES Detailed Statement of Financial Activities for the Year ended 31 July 2024
| INCOME AND ENDOWMENTS National Lottery ForMK MK Community Foundation Grants - [Somali community fund] Grants - [Benevity] Other Income EXPENDITURE Raising donations and legacies Management charges Charitable activities Charitable giving Hall hire IT & consumables Printing, postage & stationery Books & other resources Staff Training Advert Telephone Travel Insurance Repairs Support costs Management Bank charges Depreciation Human Resources Wages Social security Others Entertainment Governance costs Legal & professional fees Total Resources expended Net (expenditure)/income |
2024 2023 £ £ 41850 44250 0 4500 0 10000 0 3000 4623 1191 3000 351 |
|---|---|
| 49473 63292 |
|
| 28140 24883 |
|
| 28140 24883 4100 1400 683 244 5186 2340 1497 457 322 395 2500 2926 522 397 199 0 740 832 (58) 254 119 269 |
|
| 15810 9514 0 0 547 451 |
|
| 547 451 17352 11828 0 104 |
|
| 17352 11932 754 1190 |
|
| 754 1190 700 200 |
|
| 700 200 |
|
| 63303 48170 |
|
| (13830) 15122 |
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FRESH YOUTH MILTON KEYNES
Independent Examiner's Report to the Trustees
I report on the accounts for the year from 1 August 2023 to 31 July 2024 set out four to nine.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedure laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act) ; and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts presents a 'true and fair view' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 130 of the Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
O Obidipe Independent Examiner 25 April 2025
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