OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-04-05-accounts

Arc Initiative – Trustees Annual Report – April 2023/2024

Reference and Administrative Details of The Charity, it’s Trustees and Advisers.

Trustees Stephanie Nicola (CHAIR)
Conrad Benjamin
Craig Wright
Charity Registration Number 1199808
Principle Office 85 Great Portland Street, First Floor, London, W1W 7LT
Accountants The Veritas Finance Group
Independent Examiner Jasbir Notay

The Trustees present their annual report together with the financial statements of the Charity for the year 06[th] April 2023 to 5[th] April 2024.

Objective and Activities

a) Policies and Objectives

Arc Initiatives' goals, as set out in its governing document:

b) Activities for Achieving Objectives

Arc Initiative was founded to provide a safe, inclusive space for young people to learn about Inclusion in the workplace. Its goal is to develop their essential skills and employability through CV and cover letter training and Interview preparation. The initiative also creates a space for mentorship by industry experts across many fields. Created to give young people from marginalised and disadvantaged backgrounds access to professional resources and direct contact with industry professionals and experts, Arc Initiative encourages young people to embrace their authentic selves when inducted into a programme. This will boost their confidence and self-esteem in other walks of life.

Our personal development employability training and mentoring programmes have been co-designed by our beneficiaries, volunteers, and industry experts to ensure accessible, easy-to-understand, fun and engaging programmes. The tried and tested programmes work for all learning levels.

Charity Number: 1199808 arcinitiative.co.uk

Our young people receive professional industry-standard knowledge that enhances their skills and talents, making them more confident and ‘life ready’ for work and other opportunities.

Arc Initiative is determined to create an inclusive, nonjudgmental, safe space that supports young people in being the best they can be, regardless of where they come from by:

Current Programmes:

a) Be Your Best Self:

The "Be Your Best Self" programme is an immersive and dynamic journey crafted to empower young people in their quest for meaningful employment, training or further education. This comprehensive 3-month programme equips participants with the skills and insights required to shine in interviews, stand out from other applicants, and present themselves with confidence and authenticity.

b) Accelerating Your Potential:

"Accelerating Your Potential" is a dynamic and transformative personal development programme tailored for young people that provides essential tools to propel them into their desired careers/paths and embark on a journey of selfgrowth. This comprehensive programme cultivates skills, insights, and self-awareness across various impactful personal training themes.

c) Life Leaders:

The Life Leaders Mentorship Programme is a cutting-edge personal and professional development approach. This visionary initiative empowers seasoned professionals to engage with young people in a mentorship journey to foster growth, inspiration, and collaborative learning. Anchored in the values of authenticity and guided support, this programme facilitates genuine connections, valuable knowledge, and network sharing.

Courses

Here are details of the courses we built over the last period:

Course Title Date Attendees Total hours
Be your Best Self Apr 23 to Apr 24 36 young people 144 hours
Accelerating Your Potential Apr 23 to Apr 24 40 young people 104 hours
Life Leaders Apr 23 to Apr 24 32 young people 312 hours
Youth Board May 23 to Jun 23 10 young people 9 hours
Future Focused Jul 23 to Sep 23 8 young people 24 hours
Feedback Forum Apr 23 to Apr 24 19 young people 18 hours
Insight Sessions May 23 to Aug 23 15 young people 6 hours
The Impact Circle Apr 23 to Apr 24 20 young people 21 hours
Total Impact 180 young people 638 hours

Charity Number: 1199808 arcinitiative.co.uk

Mentoring : We match young people with appropriate industry experts to support and encourage their learning to maximise their potential, develop their skills and improve their performance.

Here are some examples of our great mentors at Arc Initiative.

Here is an amazing example of the impact our mentoring programme has had on a young person’s life:

“Through the mentoring programme, I secured a promotion at work!! I have been in my role for a few years and had no idea how much more I could do to progress my career, I was at the stage of walking out and just figuring things out after. My mentor helped me to stay in the game and work on myself. I sometimes have low confidence at work and give up on things quite fast, this has really made me look at and approach things differently, thank you!”

Work Experience : Four young people have worked with us to gain valuable business experience. During this period, they learned about communication, accountability, and teamwork. Following completing a programme with us, their confidence in interacting with adults professionally was higher. Their learning enabled them to demonstrate their motivation and commitment to future employees and prepare them for their next career paths.

Networking : We share our extensive network with our young people and teach them how to harness their own. We are proud of our business networks and partnerships, which include Nationwide Building Society, Canary Wharf Group and Ballymore.

Local community support : Arc Initiative’s approach to community involvement is multifaceted and deeply integrated into the design and execution of our programmes. We are committed to ensuring that Arc Initiative is not just for the community but led by individuals who truly understand its dynamics and needs. Furthermore, during this period, we have joined several local businesses, initiatives, and charities:

The Contribution Made by Volunteers

At Arc Initiative, our talented volunteers contribute to a wide range of areas, including financial management, bid and proposal writing, programme delivery, social media and marketing, risk management, transportation, and even refreshments. Their diverse skills and commitment enrich every aspect of our work.

We collaborate with individuals who share our passion and vision for empowering young people. Our volunteers are knowledgeable and accomplished in their fields and deeply committed to inspiring and supporting our youth and team. Our network is a vibrant community of creative, educational, and corporate professionals who embody our values and actively champion our cause.

To ensure the safety and well-being of everyone involved, we provide safeguarding training and facilitate DBS checks for our volunteers when needed.

Charity Number: 1199808 arcinitiative.co.uk

Achievements and Performance

a) Our Impact

Since its inception, Arc Initiative has worked with over 100 at-risk young people. We know we’re making a positive difference. Through monitoring, measuring, and evaluating, we have tracked the progress made by our beneficiaries. We have noted increased confidence in taking on new opportunities, improved behaviour within a group and family setting, punctuality and task management skills, and an improved attitude to learning. All of this profoundly impacts young people’s mental health and well-being, opening them up to more opportunities in their lives. Across our programmes, over 20 young people have secured employment mid-programme, and over 50 have successfully secured early career placements (internships and apprenticeships) on completion of their programmes.

Here are a few moving examples of the impact of the Be Your Best Self (BYB) and Accelerate Your Potential (AYP) Programmes on young people’s lives.

“Being older I don’t find much out there for me to go to, this programme filled in so many blanks for me and the interview prep part for me was something I’ve been not good at and been getting wrong. Glad I came here, more training should be out there like this, the teacher was relatable, made it easier to ask questions and just get through the sessions with ease” GD, age 24.

“I never thought I had any achievements to talk about at an interview for a job before coming here. The trainer was cool, and I liked the CV template because the one I had before was not good.” YP, age 16.

“I had an interview with Footlocker whilst on the course, I used the learning from the interview prep session and the insights training to adapt my communication and then got the job!! This is life-changing for me as I study and need an income asap! I highly recommend this training.” SP, age 19.

“I was not sure I would get an apprenticeship, but this course really helped me with my confidence and communication. I smashed an interview and was offered an apprenticeship with a big construction firm, which I was interested in working at, thank you.” RB, age 17.

“The classes were good, easy to pick things up and ask questions when you wanted to. I liked the personal brand part best, how I think I am vs how people might see me was an eye opener for real", SW, age 18.

Our young people have gained and developed many skills. Below are some of the other benefits they have taken away from our programmes:

b) Key Performance Indicators

We don’t currently have reserves as we are a young charity, and our funding is mainly restricted to projects and organisational development. However, we aim to invest in our core team and build reserves for six months of running costs as part of our business planning, income generation, and fundraising activities, to be reviewed by the end of 2024.

c) Financial Review

At Arc Initiative, we are committed to strengthening our capacity to adapt and thrive amidst unpredictable challenges while continuing to deliver meaningful impact. Our long-term focus is fortifying partnerships with support agencies to ensure we are well-equipped to assist those who rely on us.

Charity Number: 1199808 arcinitiative.co.uk

To secure the charity's future and expand our reach, we actively pursue new corporate partnerships to fund our initiatives and provide the stability needed for sustained growth. We have also bolstered our team with skilled volunteers specialising in accounting, marketing, creative development, and business expertise, ensuring we have the right resources to drive our mission forward.

We recently welcomed a dedicated youth coordinator to help us scale our efforts. With plans to expand our team further, we aim to bring in additional administrative and marketing support, senior leadership, and a project lead to oversee the delivery of key initiatives.

Our catalogue of courses, which continues to grow, has been a resounding success. These courses, which run alongside partnership programmes, offer tailored content for specific audiences at short notice, demonstrating our responsiveness to the evolving needs of our communities.

Our commitment to resilience, adaptability, and strategic growth is unwavering. These principles guide us as we set Arc Initiative on a path to a stronger, more impactful future.

Structure, Governance and Management

a) Constitution

Arc Initiative has a Constitution of a Charitable Incorporated Organisation and is registered with the Charity Commission. (Charity number: 1199808). The principal object of the Charity is to advance young people in life and relieve unemployment through the provision of support and activities that develop their skills, capacities, and competencies, such as interview skills and practice, CV writing, job search, and job club facilities alongside understanding the part they play to promote an inclusive culture at the workplace.

b) Management Structure

Arc Initiative has a charitable board of three trustees. Our trustees all have unique lived experiences of the daily issues and battles our beneficiaries face. The skills of our trustees include finance, diversity and inclusion, fundraising, project management, marketing, property development, caring for vulnerable people, well-being, and community building. Arc Initiatives Chief Executive reports to the board of trustees, and at least two trustees agree on all financial decisions.

Arc Initiatives' leadership team comprises industry experts with a wealth of business experience and the financial acumen to manage a successful charity.

Young people know us, trust us, and enjoy participating in our programmes. We have lived experience of the issues our young people face, and we continuously work closely with and listen to our beneficiaries to ensure our offerings are relevant and responsive to their needs.

c) Method of Appointment or Election of Trustees

The management of the Charity is the responsibility of the Trustees, who are elected and co-opted under the terms of the Trust deed.

The Trustees approved this report on December 11, 2024, and signed on their behalf by Chidi O’Hanekwu, CEO and founder.

Charity Number: 1199808 arcinitiative.co.uk

Independent Examiner’s Report

I report to the trustees of Arc Initiative (Charity No 1199808) on the accounts for the period ended 5[th] April 2024.

Respective Responsibilities of the Trustees and the Independent 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 of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with 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 disclosures in the accounts and seeking explanations from the 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 present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

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

Jaz Notay ACMA CGMA BEng (Hons) Veritas Finance Group Ltd 16th December 2024

Charity Number: 1199808 arcinitiative.co.uk

Statement of Financial Activities For the period ended 5[th] April 2024

----- Start of picture text -----
Restricted Unrestricted
Notes Funds Funds Total 2024 Total 2023
Income From:
Donations & Legacies 2 15,000 15,000 19,978
Charitable activities 3
Other trading activities
Total Income 15,000 0 15,000 19,978
Expenditure on:
Raising Funds 4 0 0 0 0
Charitable activities 13,224 0 13,224 1,246
Other trading activities 32,502 0 32,502 1,200
Other 0 0
Total Expenditure 45,726 0 45,726 2,446
Net Movement in Funds (30,726) 0 (30,726) 17,532
Reconciliation of Funds
Total funds brought forward 17,532 0 17,532 0
Total Funds carried forward (13,194) 0 (13,194) 17,532
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year

All income and expenditure derive from continuing activities

Charity Number: 1199808 arcinitiative.co.uk

Balance Sheet

For the period ended 5[th] April 2024

Notes
Tangible Fixed Assets
5
Other Debtors
Cash at Bank
Creditors: amounts falling due within one year
6
Net Current Assets
Total Net Assets
The Funds of the Charity
Unrestricted Funds
7
Restricted Funds		 £
£
£
£
1,107
1,992
380
17,021
380
17,021
(1,456)
(1,481)
(1,076)
15,540
30
17,532
0
30
17,532
30
17,532
2024
2023
380
(1,456)

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the Board of Trustees

Dated:

Signed:

Stephanie Nicola, Chair of Trustees

Charity Number: 1199808 arcinitiative.co.uk

Notes to Financial Statements

1. Accounting Policies

Basis of preparing financial statements

The financial statements of the charitable company have been prepared in accordance with the Charities SORP (FRSSE) ‘Accounting and Reporting’ by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the provisions of FRS102 Section 1A Small Entities and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.

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 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 obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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. Restrictions arise when specified by the donor or when the funds are raised for particular restricted purposes.

Further explanation of the nature and purposes of each fund is included in the notes to the financial statements.

2. Donations & Legacies

Grants
Legacies
Total		 Restricted
Funds
Unrestricted
Funds
Total 2024
Total 2023
15,000
0
15,000
19,978
0
15,000
0
15,000
19,978

3. Charitable Activities

Fundraising
Other
Total		 Restricted
Funds
Unrestricted
Funds
Total 2024
Total 2023
0
0
0
0
0
0
0
0
0
0

Charity Number: 1199808 arcinitiative.co.uk

4. Analysis of Expenditure

Raising Funds
Charitable activities
Other trading activities
Other
Total		 Restricted
Funds
Unrestricted
Funds
Total 2024
Total 2023
0
0
0
13,224
0
13,224
1,246
32,502
0
32,502
1,200
0
45,726
0
45,726
2,446

5. Tangible Assets

At Cost
Depreciation as at 05.04.24
Depreciation charge for the year
Net Book Value
As at 05.04.24
As at 05.04.23
6. Creditors - amounts falling due within
Creditors		 Fixtures &
Fittings
Office
Equipment
Total
2,656
2,656
664
664
885
885
1,107
1,107
1,992
1,992
one year
2024
2023
1,456
1,481
1,456
1,481

7.Restricted Funds

Unrestricted
Restricted		 Balance as at
6th April
2023
Income
Expenditure
Balance as at
5th April
2024
0
0
0
0
17,532
15,000
(45,726)
(13,194)
17,532
15,000
(45,726)
(13,194)

Charity Number: 1199808 arcinitiative.co.uk