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2024-08-31-accounts

t* ANNUAL REPORT AND ACCOUNTS 2024 SPICE UP LTD

chair’s statement

It is with great pride to present Spice Up’s very first annual report. Our journey this year has been with triumphs, growth, challenges, and breakthroughs. Each experience has added its own flavour to the bigger picture of who we are and why we exist.

Our theme this year, ALLSPICE, is more than just a word. It’s rooted in our motto and our mission. ALLSPICE symbolises the mix of qualities we nurture in young people: Awareness, Leadership, Learning, Self-belief, Purpose, Initiative, Communication, and Empowerment. It’s the essence of how we help them shine.

At the heart of everything we do is one clear goal: To uplift and support young people in unlocking their full potential.

Through connection and consistency, through peer-topeer support and meaningful networking, we’ve created spaces where teens are not only heard, but seen, where their ideas, talents, and dreams are celebrated and nurtured.

This year, we equipped 80 young people with practical tools, personal strategies, and new experiences to help them step into the workforce with confidence. From

vocational training and career preparation, to mindset coaching and mentorship, every touchpoint was designed with purpose and care.

Behind the scenes, Spice Up continues to operate with transparency and integrity. We are proud to uphold the highest standards of governance, in full alignment with Charity Commission regulations and sector best practices. Our Board of Trustees has provided steady oversight in risk management, safeguarding, and financial stewardship. We’ve also strengthened our policies to reflect our core values around inclusion, accountability, and long-term sustainability.

So take a moment. Breathe in the aroma of ALLSPICE. Let the tension flow out. And journey with us through a year of bold steps, rich stories, and inspiring progress.

Thank you for being a part of this.

Yoel Berkowits

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Mission

To help young people discover what they’re good at, build real-life skills, and grow the confidence to take control of their own futures so they can step up, speak out, and shape the lives they want.

Vision

A future where young people aren’t just getting by, they’re leading the way. We want to see everyday teens becoming bold decision-makers, trusted voices, and positive changemakers in their communities

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4 Program Pathways

We are proud to have reached and positively impacted over 80 young people through our 4 program pathways. From tailored workshops and training hubs, to group mentoring and creative development, every step has moved us closer to our vision.

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ONE

Soul & Spice

Food, friendship, and fuel, feeding minds each day, rain or shine.

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THREE
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TWO
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Roots & Tech Routes Leveling up digital

Leveling up digital skills and opening doors through STEM and computer literacy; to position young people as leaders in digital spaces.

Exploring heritage, identity, and pride, where we come from and where we’re going.

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FOUR
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Skill & Style

Hands-on learning in beauty, culinary arts, and real-world creativity, where passion meets possibility.

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Pearl’s Story 17 year old (Name changed for privacy)

CASE STUDY

When I first signed up for the weekend retreat, I wasn’t sure what to expect. I felt pretty lost, and honestly, I didn’t want to talk to anyone. School felt overwhelming, friendships were shifting, and deep down, I was just tired. I loved writing, always have but I kept most of it to myself. Sharing out loud felt impossible.

But from the moment I arrived, something felt different. The space felt calm, welcoming, and… safe. No pressure to perform. No fear of being judged. Just quiet support.

One of the guest speakers talked about using creativity to heal, and her story really stayed with me. After that, I joined the journaling and movement sessions and started opening up more. Bit by bit, my confidence grew. My words flowed more freely. I started feeling like maybe, just maybe, my voice mattered.

On the last day, we had a reflection circle. I pulled out something I’d written months ago but never shown anyone. I read it out loud. There were tears. Not just mine. I remember thinking, “This is what being seen feels like.”

In one of the first workshops on emotional intelligence, I listened while others shared things I thought only I struggled with. It hit me, I wasn’t alone. That simple realisation changed everything.

Then came a role-play session on setting boundaries. I don’t know what came over me, but I stood up, stepped forward, and spoke. My voice shook, but I did it. Later, I called it a turning point. For the first time in a long time, I heard myself speak my truth.

By the end of the retreat, I felt lighter. I walked differently. Smiled more. Even swapped numbers with a few others. I left with a clearer sense of who I am, a few tools to help manage the ups and downs, and most importantly a feeling that I belonged.

Now, I’m back at school and writing again regularly. I’ve also started volunteering at a local youth centre. It feels good to give back, especially to others who might be feeling the way I once did.

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Our plans going forward:

1. Youth Independence & Self-Reliance

We will embed life skills into all of our programmes, covering budgeting, decisionmaking, critical thinking, and everyday problem-solving. Young people will take more ownership over their journeys with structured goalsetting, peer-led sessions, and personal development challenges.

2. Relationships & Communication

New workshops will focus on healthy relationships, communication styles, boundary setting, and navigating friendships, family dynamics, and digital interactions. These sessions will also tackle selfimage, trust, and emotional intelligence in relatable, youth-friendly ways.

3. Work Readiness & Opportunity Exposure

We’ll launch a work-readiness strand offering practical skills: CV building, interview prep, time management, and workplace etiquette. Partnerships with local businesses, mentors, and role models will create exposure to real opportunities and raise aspirations.

4. Personal Awareness & Growth

Each young person will take part in reflective activities designed to help them better understand who they are, what drives them, and how to manage stress, setbacks, and change. This will include guided journaling, group reflection, and personal mapping sessions.

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administrative details

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 August 2024.

charity name

Spice Up Ltd Charity number 1204047 Company number 14173480 registered address Flat A, 118 Osbaldeston Road office N16 6NJ London The trustees

Mr Y Berkovitz Ms R Gluck Mr M Schwartz Independent examiner

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Chaim Weberman - Stamp It Ltd 44 Fairholt Road London N16 5HW

Spice Up Ltd Trustees’ Annual Report (Incorporating the Director’s Report) Year ended 30 August 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 August 2024.

Structure, governance and management

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures. The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Objectives and activities

Achievements and performance

During the year the charity generated total income of £40,390 (2023: £5,450) and incurred expenses of £29,299 (2023: £600), resulting in net incoming resources of £11,091 (2023: £4,850).

Financial review

Reserves Policy

The charity will maintain reserves equivalent to at least 3 months of core running costs. This level of reserves is intended to provide financial stability, ensuring that the charity can continue its essential operations in the event of unexpected funding shortfalls or unforeseen expenses. The Reserves Policy is reviewed annually to ensure it remains appropriate for the charity’s needs and circumstances

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The charity aims to relieve the needs of disadvantaged young people and to improve their life prospects through:

The trustees’ annual report was approved on 15 March 2025 and signed on behalf of the board of trustees by:

(a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; (b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. (c) to further such charitable purposes as the trustees see fit from time to time.

Mr Y Berkovitz

Trustee

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Spice Up Ltd Independent Examiner’s Report to the Trustees of Spice Up Ltd Year ended 30 August 2024

I report to the trustees on my examination of the financial statements of Spice Up Ltd (‘the charity’) for the year ended 30 August 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

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

  1. the financial statements 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).

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 charity’s accounts as 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.

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.

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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

Chaim Weberman - Stamp It Ltd Independent Examiner 44 Fairholt Road

London N16 5HW 15 May 2025

  1. the financial statements do not comply with the accounting requirements of

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Spice Up Ltd Independent Examiner’s Report to the Trustees of Spice Up Ltd Year ended 30 August 2024

Unrestricted
funds £		 2024
Total funds
£		 2023
Total funds
£
Income and endowments
Donations and legacies
5
Total income
Expenditure
Expenditure on charitable activities
6,7
Total expenditure
Net income and net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 40,390 40,390 5,450
5,450
600
600
4,850
–
4,850
40,390 40,390
29,299 29,299
29,299 29,299
11,091 11,091
4,850 4,850
15,941 15,941

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 15 to 16 form part of these financial statements.

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Spice Up Ltd Statement of Financial Position 30 August 2024

Note 2024
£
2023
£
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
12
Net current assets
Total assets less current liabilities
Net assets
Funds of the charity
Unrestricted funds
Total charity funds
13		 16,841
5,450
900
600
15,941
4,850
15,941
4,850
15,941
4,850
15,941
4,850
15,941
4,850

For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477

of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the board of trustees and authorised for issue on 15 March 2025, and are signed on behalf of the board by:

Mr Y Berkowitz Trustee

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Spice Up Ltd Statement of Cash Flows Year ended 30 August 2024

2024
£		 2023
£
Cash flows from operating activities
Net income
Adjustments for:
Accrued expenses
Cash generated from operations
Net cash from operating activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 11,091
300		 4,850
600
5,450
5,450
5,450
–
5,450
11,391
11,391
11,391
5,450
16,841

The notes on pages 15 to 16 form part of these financial statements.

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Spice Up Ltd Notes to the Financial Statements Year ended 30 August 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Flat A, 118 Osbaldeston Road, N16 6NJ, London.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity’s ability to continue.

Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The

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estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The preparation of these accounts did not require the trustees to make any significant judgments or estimates.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two subclasses: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Spice Up Ltd Notes to the Financial Statements Year ended 30 August 2024

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

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Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Spice Up Ltd Notes to the Financial Statements Year ended 30 August 2024

4. Limited by guarantee

In the event of wind up, the trustees will contribute to the assets of the company by such amount as may be required for:

(1) payments of debts and liabilities of the company contracted before they cease to be a member; (2) payments of costs, charges and expenses of winding up, and;(3) adjustment of the rights of the contributors among the trustees, not exceeding the amount specified in the guarantee.

5. Donations and legacies

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Unrestricted Funds
£
Donations
40,390
6. Expenditure on charitable activities by fund
Unrestricted Funds
£
Educational and experiential retreat
7,200
Cultural and heritage exhibition
4,450
Cultural and travel programme
1,895
Career guidance and skills training
2,256
Self awareness programme and mentorship
5,662
Community outreach event
4,228
Distributions to individuals
2,000
Support costs
1,608
29,299		 .17.
Unrestricted Funds
£
Donations
40,390
6. Expenditure on charitable activities by fund
Unrestricted Funds
£
Educational and experiential retreat
7,200
Cultural and heritage exhibition
4,450
Cultural and travel programme
1,895
Career guidance and skills training
2,256
Self awareness programme and mentorship
5,662
Community outreach event
4,228
Distributions to individuals
2,000
Support costs
1,608
29,299		 Total Funds
2024
£
UnrestrictedFunds
£
UnrestrictedFunds
£		 Total Funds
2023
£		 Total Funds
2023
£
40,390
type
Total Funds
2024
£		 5,450

Unrestricted Funds
£		 5,450
Total Funds
2023
£
7,200
4,450
1,895
2,256
5,662
4,228
2,000
1,608		 7,200
4,450
1,895
2,256
5,662
4,228
2,000
1,608		 –
–
–
–
–
–
–
600		 –
–
–
–
–
–
–
600
29,299 29,299 600 600

Spice Up Ltd Notes to the Financial Statements Year ended 30 August 2024

7. Analysis of grants

7. Analysis of grants
2024 2023
£ £
Grants to individuals 2,000 –
Total grants 2,000 –

8. Independent examination fees

8. Independent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 900 600

9. Staff costs

The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefits of more than £60,000 during the year (2023: Nil).

10. Trustee remuneration and expenses

no remuneration or other benefits from employment with the charity or a related entity were received by the trustees;

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Spice Up Ltd Notes to the Financial Statements Year ended 30 August 2024

11. Creditors: amounts falling due within one year

2024 2023 £ £ Accruals and deferred income 900 600

12. Analysis of charitable funds

Unrestricted funds
General funds
General funds		 At 31 August2023
£		 At 31 August2023
£
Income
£
Expenditure
£
At 30 August 2024
£
4,850 40,390 (29,299) 15,941
At 31 August 2022
£
Income
£
Expenditure
£
At 30 August 2023
£
– 5,450 (600) 4,850

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