Succeed 2 the Max
TRUSTEES’ ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
Charity Number: 1195892 (England and Wales)
Succeed 2 The Max
TRUSTEES’ ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
| 31 MARCH 2023 | |
|---|---|
| CONTENTS | PAGE |
| General information | 2 |
| Trustees’ Annual Report | 3 |
| Responsibilities of the Trustees | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the financial statements | 8‐11 |
Charity number: 1195892 1
Succeed 2 The Max
GENERAL INFORMATION
| Registered charity name | Succeed 2 The Max |
|---|---|
| Charity number | 1195892 |
| Principal & registered office address | Laurels Healthy Living Centre |
| 256 St. Ann’s Road | |
| London | |
| N15 5AZ | |
| Trustees | Linda Serwah Gyamfi |
| Oluremi Abati | |
| Alexander Wilhelm Ojeifo Enahoro | |
| Hannah Verity Rose Thompson Rye | |
| Accountants | S K Punia Accountants LLP |
| Olympic House | |
| 28 ‐42 Clements Road | |
| Ilford | |
| IG1 1BA | |
| Bankers | Natwest |
Charity number: 1195892 2
Succeed 2 The Max
TRUSTEES’ ANNUAL REPORT
FOR THE PERIOD ENDED 31 MARCH 2023
Constitution
The charity is registered as a Charitable Incorporated Organisation (CIO) with the Charity Commission (no. 1195892) and is constituted by deed dated 22 September 2021.
Trustees
Trustees are shown on p2 of this document.
Objects
To advance in life young people through:
(a) Providing support and activities which develop their skills, capacities, and capabilities to enable them to participate as active citizens in society and responsible individuals.
(b) Advancing education and relieving unemployment in particular but not exclusively by providing information and advice about career paths.
We champion young people to become active creators of their career destiny
Main activities
We host career development workshops for young people.
We also focus on supporting the parents or guardians of these young people, to equip them with the tools to support their children. Facilitating partnerships with community groups, sixth form schools, colleges, universities, and corporates organisations
Contribution made by volunteers
Succeed 2 the Max had 3 volunteers this year, providing their expertise as part of the organisational development.
Review of the period
During the beginning of the year, we continued to secure the building blocks of our organisations by establishing policies related to safeguarding, harassment and our equality and diversity statement. We still carried out workshops focused on employability on a smaller scale whilst seeking funding. Fortunately, in the beginning of 2023, we successfully secured our first funding as a constituted charity from Hackney Council.
(As part of the funding we intend to deliver 4 workshops targeted at 16–18‐year‐olds, in conjunction with parental engagement workshops). By the end of the project we hope to have engaged with at least 60 young people and 20 parents.
Some of the outcomes of the workshops are as follows:
1) Increase young people’s aspirations and self‐belief in how to achieve their goals.
Charity number: 1195892 3
Succeed 2 The Max
TRUSTEES’ ANNUAL REPORT CONTINUES
FOR THE PERIOD ENDED 31 MARCH 2023
2) Increase parents and young people’s knowledge of career and enterprising options available to them 3) Increased young people’s confidence in developing positive strategies to overcome career adversity and develop a growth mindset
For this financial period whilst employability skills were our key focus, we rolled out another series of workshops which intersected with wellbeing, resilience and career planning.
This was influenced by some research released in early October 2022 by the Princes Trust which revealed that 49% of young people feel anxious about their future on a daily basis. The Princes Trust also revealed that 51% of young people agreed their aspirations for the future were lowered due to the pandemic.
Another report from the Higher Education regulatory bodies, highlighted the need for mental health and wellbeing to be marked as a priority. This is due to cases of students incidents with a decline in their state of wellbeing and the impact on their studies. This is one of lasting effect COVID has on young people. We therefore decided that we should focus on these areas, as studies showed the direct correlation between poor wellbeing and students’ career prospects.
Feedback from participants
75 students attended our 2‐part series workshop: titled Revision Strategies and Resilience followed by the Art of Career planning. These were a mixture of year 12 and 13 students. As a result of attending our workshop 60% of young people highlighted that our session helped them feel more confident about their future. 70% of them agreed that they’ve acquired new skills that can aid them in reducing stress during their revision.
78% agreed that participating in the workshop has enabled them plan for career success.
The students that participated in this workshop were from different boroughs of London beyond, Haringey and Hackney including Islington and the borough of Camden.
83% of students agreed that they would recommend our workshops to their friends.
Future workshops
We will also continue to roll out the additional workshops in the next financial year with themes relating to embracing adversity and a Winter Wellness event.
Reserves Policy
Our financial position at this current time isn’t adequate to have reserves.
Charity number: 1195892 4
Succeed 2 The Max
RESPONSIBILITIES OF THE TRUSTEES
FOR THE PERIOD ENDED 31 MARCH 2023
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Charity Law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT EXAMINATION
The charity does not require independent examination as turnover is below threshold.
Signed on behalf of the trustees
Linda Serwah Gyamfi
Chair of the Trustees
……………………………………..
Date 27.01.2024
Charity number: 1195892 5
Succeed 2 The Max
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31 MARCH 2023
| Income from: Donations 3 Charitable activities 4 Other trading activities Total income Expenditure on: Raising funds Charitable activities 5 Governance Cost 6 Total expenditure Net income / ‐ expenditure Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forwards Total funds carried forward |
Unrestricted Funds £ 642 1,000 1,642 ‐ 558 200 758 884 ‐ 884 ‐ 142 742 |
Restricted Funds £ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ |
Total 2023 £ 642 1,000 1,642 ‐ 558 200 758 884 ‐ 884 ‐ 142 742 |
Unrestricted Funds £ 1,000 ‐ 1,000 942 200 1,142 ‐ 142 ‐ 142 ‐ ‐ 142 |
Restricted Funds £ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ |
Total 2022 £ 1,000 ‐ |
|---|---|---|---|---|---|---|
| 1,000 | ||||||
| ‐ 942 200 |
||||||
| 1,142 | ||||||
| ‐ 142 ‐ |
||||||
| ‐ 142 | ||||||
| ‐ | ||||||
| ‐ 142 |
The Statement of Financial Activities includes all gains and losses in the period and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 8 to 11 form part of these financial statements.
Charity number: 1195892 6
Succeed 2 The Max
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes FIXED ASSETS Tangible Assets CURRENT ASSETS Cash at bank & in Hand CREDITORS:Amounts falling due within one year 7 NET CURRENT ASSETS CREDITORS:Amounts falling due after more than one year NET ASSETS/(LIABILITIES) FUNDS INCOME FUNDS Unrestricted Income funds 8 Restricted reserves TOTAL INCOME FUNDS |
2023 £ £ ‐ 1,500 1,500 ‐ 758 742 ‐ 742 742 ‐ 742 |
2022 £ £ ‐ ‐ ‐ ‐ 142 ‐ 142 ‐ ‐ 142 ‐ 142 ‐ 142 |
2022 £ £ ‐ ‐ ‐ ‐ 142 ‐ 142 ‐ ‐ 142 ‐ 142 ‐ 142 |
|---|---|---|---|
| ‐ 142 | |||
| ‐ 142 | |||
| ‐ 142 |
For the period ended 31 March 2023, the charity was entitled to exemption from audit under section 145 of the Charities Act 2011.
Trustees responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 145; and
-
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved by the members of the committee and authorised for issue on 27.01.2023. and are signed on their behalf by:
.
Linda Serwah Gyamfi Chair of the Trustees
Charity number: 1195892 7
Succeed 2 The Max
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
1. ORGANISATION STATUS
Succeed 2 The Max Incorporated Organisation (CIO).
2. ACCOUNTING POLICIES
Basis of accounting
The charity constitutes a public benefit entity as defined by FRS102.
These financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards and the requirements of the Statements of Recommended Practice 2015 (SORP 2015), ‘Accounting and Reporting by Charities’, issued by the Charities Commission and the Companies Act 2006, with FRS102, update bulletin 1.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.
Income
All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure represents amounts invoiced, including value added tax.
Fixed assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. All assets costing £150 or more are capitalised and valued at historical cost.
Charity number: 1195892 8
Succeed 2 The Max
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office furniture – 20% straight line
Computer equipment – 33% straight line
Taxation
The Charity is exempt from corporation tax on its charitable activities.
3. INCOME FROM DONATIONS AND LEGACIES
| Donations received |
Unrestricted Funds £ 642 642 |
Restricted Funds Total 2023 £ £ ‐ 642 ‐ 642 |
Unrestricted Funds £ 1,000 1,000 |
Restricted Funds £ ‐ ‐ |
Total 2022 £ 1,000 |
|---|---|---|---|---|---|
| 1,000 |
4. INCOME FROM CHARITABLE ACTIVITIES
| L B Hackney | Unrestricted Funds £ 1,000 1,000 |
Restricted Funds Total 2023 £ £ ‐ 1,000 ‐ 1,000 |
Unrestricted Funds £ ‐ ‐ |
Restricted Funds £ ‐ ‐ |
Total 2022 £ ‐ |
|---|---|---|---|---|---|
| ‐ |
Charity number: 1195892 9
Succeed 2 The Max
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023 (continued)
5. EXPENDITURE ON CHARITABLE ACTIVITIES
| IT Cost Insurance other Runing costs |
Unrestricted Funds Restricted Funds Total 2023 Unrestricted Funds £ £ £ £ 462 ‐ 462 ‐ 96 ‐ 96 ‐ 942 558 ‐ 558 942 |
Restricted Funds £ ‐ ‐ ‐ |
Total 2022 £ ‐ ‐ 942 |
|---|---|---|---|
| 942 |
6. GOVERNANCE COSTS
| Accountancy fees Trustee Expenses |
Unrestricted Funds £ 200 200 |
Restricted Funds Total 2023 £ £ ‐ 200 ‐ ‐ 200 |
Unrestricted Funds £ 200 200 |
Restricted Funds £ ‐ ‐ ‐ |
Total 2022 £ 200 |
|---|---|---|---|---|---|
| 200 |
7. Creditors: Amounts falling due within one year
| Trade creditors Accruals Other creditors |
2023 £ 200 558 758 |
2022 £ ‐ |
|---|---|---|
| ‐ |
Charity number: 1195892 10
Succeed 2 The Max
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023 (continued)
8. Unrestricted income Funds
| Balance at 1 April 2022 |
Balance at 1 April 2022 |
Balance at 1 April 2022 |
Transfer from unincorporated charity |
Transfer from unincorporated charity |
Income |
Income |
Expenditure | Balance at 31 March 2023 |
||
|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||||||
| Contingency | ||||||||||
| ‐ | ‐ | ‐ | ‐ |
|||||||
| reserves | ||||||||||
| General reserve | ‐ 142 | 1,642 | ‐ 758 | 742 |
||||||
| ‐ 142 | 1,642 | ‐ 758 | 742 |
|||||||
| . Restricted income Funds | ||||||||||
| Balance at 1 2022 |
April Transfer from unincorporated charity |
Income | Expenditure |
Balance at 31 March 2023 |
||||||
| £ | £ | £ | £ | |||||||
| ‐ | ||||||||||
| Total funds | ‐ | ‐ | ‐ | ‐ |
9. Restricted income Funds
10. Analysis of net assets between funds
| Restricted funds Unrestricted Funds |
Tangible fixed assets £ ‐ ‐ ‐ |
Net assets / ‐ liabilities Total £ £ ‐ ‐ 742 742 |
|---|---|---|
| 742 742 |
11. TRUSTEE REMUNERATION, KEY MANAGEMENT PERSONNEL AND RELATED PARTY TRANSACTIONS
No member of the board of trustees received any remuneration for the role as trustee during the year.
The Key Management Personnel comprise the Trustees.
There were no other related party transactions.
Charity number: 1195892 11