## **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