Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
Registered number: 13171617 Charity number: 1195368
W4 YOUTH LIMITED
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 14 |
Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 29 FEBRUARY 2024
| Trustees | Sally Elizabeth Chacatte, Chair |
|---|---|
| Tracey Tatchell, Trustee | |
| Andrew Dudley, Trustee | |
| Christopher William Mackaness, Trustee | |
| Christian Marcel Chacatte Losch, Trustee | |
| Gary Malcolm, Trustee (appointed 25 January 2023) | |
| Company registered number 13171617 Charity registered number 1195368 Registered office 1 The Green Richmond Surrey TW9 1PL Chief executive officer Sally Elizabeth Chacatte Accountants Feltons Chartered Accountants 1 The Green London TW9 1PL |
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024
The Trustees present their annual report together with the financial statements of the W4 Youth Limited for the 1 March 2023 to 29 February 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The Charity's objectives are, for the public benefit, to advance life and relieve the needs of young people aged between 11 and 19 years old in the Ealing and Hounslow areas of London.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The Charity aims to achieve its objectives through:
1) The provision of recreational and leisure time activities provided in the interest of social welfare and designed to improve the lives of young people.
2) The provision of support and activities to develop the skills, capacities and capabilities of young people in order to enable them to participate in society as mature and responsible individuals.
c. Activities undertaken to achieve objectives
During the last year we have resumed full operational activities with a donated hub and the use of te local church hall.
We have a four day per week timetable of football, basketball, musical theatre and street dance from 5pm to 7pm with over 200 attendances per week.
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
Achievements and performance
a. Main achievements of the Company
The main achievement in the year was to raise sufficient funds to grow our activities to a full four day per week, 5pm to 7pm programme supporting young people in the community with somewhere safe to go and something good to do. We have three teams in a local 5 a side league and will be starting our own 5 a side league with other local teams in the next financial year. Our street dance and musical theatre members performed numerous times in the year at local events and shows.
Also, we have applied for planning permission to have another hub for storage alongside our current hub. This will be another hub donated by a local construction company.
b. Review of activities
The method of fundraising during the last quarter of this financial year was based upon reaching out to individual donors and local businesses to donate to the running of the charity as well as grant and funding applications to many organisations, including Hounslow Council, Ealing Council, National Lottery Awards and Garfield Weston Foundations.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Each year the Committee of Management reviews the financial position and allocates as appropriate to surplus funds, reserves in accordance with the Reserves Policy.
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The Trustees consider that the ideal level of reserves would be between two and three month’s expenditure.
c. Results for the year
The Charity received donations of £57,071 in the year and had a suplus of £4,079..
Structure, governance and management
a. Constitution
W4 Youth Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The company has been set up for a capital project to build a youth & community centre in Southfields Recreation Ground as part of a joint venture with Ealing Council. Over the next 3 years the Trustees plan to raise sufficient funds to build the youth & community centre.
The company has also been used as the vehicle which all operational activity is channelled for the running of W4 Youth from November 2022. The running of the operational activity has previously been through a charitable trust set up in 2011.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 18 March 2024 and signed on their behalf by:
Sally Elizabeth Chacatte
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024
Independent Examiner's Report to the Trustees of W4 Youth Limited ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 29 February 2024.
Responsibilities and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: David Alesbury
Dated: 4 April 2024 Chartered Accountant
Feltons
Chartered Accountants 1 The Green London TW9 1PL
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 29 FEBRUARY 2024
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 57,071 57,071 52,992 52,992 4,079 1,389 4,079 5,468 |
Total funds 2024 £ 57,071 57,071 52,992 52,992 4,079 1,389 4,079 5,468 |
Total funds 2023 £ 1,692 |
|---|---|---|---|
| 1,692 | |||
| 303 | |||
| 303 | |||
| 1,389 | |||
| - 1,389 |
|||
| 1,389 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 14 form part of these financial statements.
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED REGISTERED NUMBER: 13171617
BALANCE SHEET AS AT 29 FEBRUARY 2024
| Note Fixed assets Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
7,113 7,113 (1,645) |
29 February 2024 £ - 5,468 5,468 5,468 5,468 - 5,468 5,468 |
1,689 1,689 (300) |
28 February 2023 £ |
|---|---|---|---|---|
| - 1,389 |
||||
| 1,389 | ||||
| 1,389 | ||||
| 1,389 | ||||
| - 1,389 |
||||
| 1,389 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 18 March 2024 and signed on their behalf by:
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED REGISTERED NUMBER: 13171617
BALANCE SHEET (CONTINUED) AS AT 29 FEBRUARY 2024
Sally Elizabeth Chacatte
The notes on pages 10 to 14 form part of these financial statements.
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
1. General information
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The companys Registered Office is 1 The Green, Richmond TW9 1PL.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
W4 Youth Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
2.4 Cash at bank and in hand
Cash at bank and 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.
2.5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
2. Accounting policies (continued)
2.6 Financial instruments
The Company 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.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 57,071 Unrestricted funds 2023 £ Donations 1,692 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 £ £ Charitable activities 51,737 1,255 |
Total funds 2024 £ 57,071 |
|---|---|
| Total funds 2023 £ 1,692 |
|
| Total funds 2024 £ 52,992 |
4. Analysis of expenditure by activities
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
4. Analysis of expenditure by activities (continued)
| Support | Total | |
|---|---|---|
| costs | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Charitable activities | 303 | 303 |
Analysis of support costs
| Accountancy Bank charges Insurance and professional fees Accountancy Bank charges |
Activities 2024 £ 720 32 503 1,255 Activities 2023 £ 300 3 303 |
Total funds 2024 £ 720 32 503 |
|---|---|---|
| 1,255 | ||
| Total funds 2023 £ 300 3 |
||
| 303 |
5. Independent examiner's remuneration
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 29 February 2024, no Trustee expenses have been incurred (2023 - NIL) .
7. Creditors: Amounts falling due within one year
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
| Other creditors Accruals and deferred income |
29 February 2024 £ 625 1,020 1,645 |
28 February 2023 £ - 300 |
|---|---|---|
| 300 |
8. Financial instruments
| 29 February | 28 February | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 7,113 | 1,689 |
9. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 March 2023 £ 1,389 |
Income £ 57,071 Income £ 1,692 |
Expenditure £ (52,992) Expenditure £ (303) |
Balance at 29 February 2024 £ 5,468 |
|---|---|---|---|---|
| Balance at 28 February 2023 £ 1,389 |
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Docusign Envelope ID: B33A74F3-8BC9-43FD-B90C-5204F0DE7E9D
W4 YOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
10. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 29 February 2024 £ Current assets 7,113 Creditors due within one year (1,645) Total 5,468 |
Total funds 29 February 2024 £ 7,113 (1,645) 5,468 |
|---|---|
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