_NEW HORIZON YOUTH CENTRE_ Contents For the year ended 31 March 2022
## COMING BACK STRONGER
Report and financial statements For the year ended 31 March 2022 _NEW HORIZON YOUTH CENTRE LIMITED_
Company number: 01393561 Charity number: 276943
_NEW HORIZON YOUTH CENTRE LIMITED_ Contents For the year ended 31 March 2022
## _CONTENTS_
|_CONTENTS_||
|---|---|
|Reference and administrative information|3|
|Trustees’ annual report|6|
|Independent auditor’s report|22|
|Statement of financial activities (incorporating an income and expenditure account)|26|
|Balance sheet|27|
|Statement of cash flows|28|
|Notes to the financial statements|29|
_NEW HORIZON YOUTH CENTRE LIMITED_ Reference and administrative information For the year ended 31 March 2022
## _REFERENCE AND ADMINISTRATIVE INFORMATION_
|Board of Trustees|Matthew Reed (Chair)||
|---|---|---|
||Ellie Roy (Vice Chair)||
||Gemma Rocyn Jones (Treasurer)||
||Daniel Jourdan|(joined September 2022)|
||Gill Goodby|(joined September 2022)|
||Hu Clarke|(left November 2021)|
||Mandy Tennant|(joined September 2022)|
||Martin Dibben||
||Nana Owusu|(joined September 2022)|
||Katherine Hawthorne||
||Paula McDonald||
||Jennifer Stoker||
||John Williams||
|Key management|Phil Kerry (Chief Executive)||
|Personnel|Meghan Roach (Director of Operations)||
|Company number|1393561||
|Country of incorporation|United Kingdom||
|Charity number|276943||
|Country of registration|England & Wales||
|Principal and|||
|registered address|68 Chalton Street||
||London||
||NW1 1JR||
|Independent Auditor|Sayer Vincent LLP||
||Chartered Accountants and Statutory Auditors||
||Invicta House||
||108-114 Golden Lane||
||London||
||EC1Y 0TL||
|Bankers|The Royal Bank of Scotland||
||127 – 128 High Holborn||
||London||
||WC1V 6PQ||
|Investment Advisers|Rathbone Investment Management||
||The Senate||
||Southernhay Gardens||
||Exeter||
||EX1 1UG||
_NEW HORIZON YOUTH CENTRE LIMITED_ Reference and administrative information For the year ended 31 March 2022
The Board of Trustees (who are directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements of New Horizon Youth Centre Limited (the charity) for the year ended 31 March 2022.
Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
_NEW HORIZON YOUTH CENTRE LIMITED_ Note from the Chair For the year ended 31 March 2022
## _NOTE FROM THE CHAIR OF THE BOARD_
The Covid-19 pandemic changed everything, but a central truth remains in the capital: Far too many young people find themselves unhoused, unsupported and unsafe. Worryingly many of these numbers are growing and may continue to grow.
Despite and because of these challenges, we are hugely proud of what we have achieved with and for young people over these last twelve months. Our service provision supported 1,221 young people – more than at any point before the pandemic – and helped over 500 of them with finding accommodation. Our partnerships with the sector went from strength to strength, joining forces with Depaul UK to pilot London’s only youth-focussed rough sleeping accommodation, Hotel 1824. And our policy work, although nascent, saw us get tangible and significant changes to commissioning in London and nationally.
We ended the year with invaluable learning from the many adaptations we have made and with renewed confidence from the innovations we have tried. Covid may be ending but we also know that new challenges await. The cost of living crisis that we now find ourselves in risks worrying levels of homelessness and we know that young people are especially prone to these consequences. So, whilst there is caution that a long and difficult road lies ahead, there is also a renewed sense of determination and confidence that we are uniquely placed to address this.
I am enormously grateful to everyone who has played a part in these remarkable efforts, and I want to pay particular thanks to our leadership and staff teams and fellow trustees for their commitment through these trying times. The year has been tough and has taken its toll, but we emerge from it stronger and with a renewed sense of ambition about what we can achieve.
And of course, none of this would have been possible without our loyal and growing community of supporters. Knowing you were walking with us has only strengthened our resolve to go further and faster and we appreciate each and every one of you.
Thank you
Matthew Reed _Chair of the Board of Trustees_
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _ABOUT NEW HORIZON YOUTH CENTRE_
Every year, thousands of young people across the Capital become homeless through no fault of their own.
That’s why New Horizon Youth Centre exists.
We are a vital support network for 16-24 year-olds with nowhere safe to go. Through the trauma-informed services we provide at our daycentre, remotely and through outreach we support thousands of young people experiencing homelessness in London to improve their wellbeing, change their economic circumstances and find somewhere that they can call home.
_FOR AS LONG AS YOUNG PEOPLE ARE HOMELESS AND VULNERABLE IN LONDON, WE WILL BE ON A MISSION TO GIVE THEIR POTENTIAL A HOME._
We deliver this mission through four strategic objectives adopted in the financial year:
- Places - Brokering more places for young people to stay in the short term or call home in the long term
- Provision - Improving the breadth and quality of services at our drop-in and through our outreach team
- Partnerships - Collaborating to ensure that young people’s experiences are visible and acted upon
- Platform - Sustaining a well-run organisation that invests in staff so they can help young people thrive
And our work is guided by four values:
- We see the best in everyone - We all have strengths and the potential to make the best of our life and work, when given a fair chance
- We are dynamic in our approach - We are always adapting because the world changes and what young people need and want changes
- We collaborate on solutions - We trust and work with diverse people and organisations so that we can achieve more together
- We are our word - We will do what we say we will because the young people we support, our team and our partners deserve nothing less
New Horizon was founded in 1967 to address the needs of young people who were involved in drug misuse in the West End of London. 55 years later we are still working with young people in London, now with a much wider scope.
During these five decades the centre has continued to provide a safe space for young people experiencing homelessness in the Capital, whether that was in our original base in Covent Garden or through our existing home in Somers Town, Kings Cross.
Although a lot has changed over that time, our work is as necessary as ever. In response to this we have steadily grown from a team of 3 when the daycentre first opened to today’s diverse and multi-disciplined team of over 50 staff, delivering a wide range of wraparound services. If housing is the hook for young people to come to New Horizon, then it is our holistic offer that keeps them coming back, providing the stability, safety and support they need to start to rebuild their lives.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _ANTI-RACISM_
We have long been aware of the disadvantages and discriminations that racialised and minoritised communities experience. Young Black people are disproportionately represented among those we support, and we see and hear how they face inequalities in housing, education, employment, health services and the criminal justice system. Young people tell us survival is a talent. We know that for Black young people survival also means having to deal with routine and systemic racism in all its different forms: interpersonal, social, economic, political, cultural and institutional. Shockingly, Black young people are three times more likely to experience homelessness than white young people.
Anti-racism has always shaped our work, but we can’t be complacent. In 2019 we undertook a thorough organisational review to identify where we were falling short and how we could do better to promote diversity and equality in all that we do, to care for and celebrate our staff and young people, and to tackle racism wherever we encounter it. We defined our ethos and commitments in our Equality and Diversity Statement and Policy, co-authored by staff and our Board of Trustees. This will continue to inform our work.
The events of summer 2020 may be further in the past but it has not lessened our resolve. We continue to prioritise and champion the anti-racist agenda within New Horizon Youth Centre and embed it across our work. You’ll see more about this work and our commitments going forward throughout this report.
We cannot achieve our mission to give young people’s potential a home without taking on discrimination and racism. We will do what we say we will about anti-racism because the young people we support, our team and our communities deserve nothing less.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _OUR APPROACH TO FUNDRAISING_
New Horizon Youth Centre greatly values the support we receive from individuals, organisations, companies and funders, and we take none of this for granted. We literally could not do what we do without them.
Our fundraising is legal, open, honest and respectful. Our income comes from a wide variety of sources; however, our typical activities include:
- Requesting money from grant-making trusts or organisations
- Applying for government funding
- Asking for voluntary donations at events, including our annual summer reception
- Forming partnerships with community groups, companies and other organisations who choose to support our work in a variety of ways
- Offering opportunities for individual supporters to take part in challenge events or other fundraising events on our behalf
- Communicating with our supporters and individuals who have asked to be kept informed about our work
- Approaching individuals who may be interested in our work
## We do not:
- Conduct regular gift, face-to-face fundraising on the street
- Canvas door-to-door
- Send out direct marketing mail to people unknown to us
- Contact former service-users or their families regarding fundraising activity, unless they have specifically asked to be contacted.
We have never received any complaints about our fundraising activities and we constantly monitor internally our fundraising processes and activities to ensure they are reasonable. We closely monitor the impact that any of our activities could have on vulnerable people.
NEW HORIZON YOUTH CENTRE LIMITED Trustee's Annual report For the year ended 31 March 2022
## _ACHIEVEMENTS AND PERFORMANCE_
Much like the evolving nature of the pandemic, the year continued to be dominated by change with constant challenge but also hope and possibility ebbing and flowing through the months.
On the one hand, there was an increased sense of getting back to it, with face-to-face delivery increasingly returning and adding to the remote services we had created. This feeling was only strengthened by growing numbers of young people coming to us – and to the centre – for support. In the year we helped more 16-24 year-olds than in the year before the pandemic with 1,221 young people using our services.
On the other hand, the evolving nature of Covid-19 and its spread across communities meant a near constant adaption of delivery methods with another physical closure and relaxing and tightening of restrictions. As such, two thirds of young people still accessed services remotely – less than the previous year and with a clear trend that indicates face to face will dominate the year ahead. The implications of all this was felt more widely than in our service planning, with pronounced changes to our user demographics taking place. 43% of service users are now young women (pre pandemic 22%), LGBTQ+ users have trebled from 7% to 21% and the numbers of Black service users has dropped slightly to 44% from 56%. Despite our work in the area, the numbers of young people rough sleeping and sofa surfing has increased and is beyond pre-pandemic levels.
But whilst growing numbers of young people facing homelessness is of course a huge concern, it has also meant we have seen greater political focus on the issue from national and regional government. The opportunity to create systemic change with these decision makers will inform changes to our strategy in the years ahead.
## Places: brokering more places for young people to stay in the short term or call home in the long term
With growing numbers of young people approaching their council because of their experiences of homelessness and over 1,000 young people recorded as sleeping rough in the capital, our core objectives of brokering more places for young people to call home has never felt more pressing. Signs of renewed Government focus on the issue from the earlier stages of the pandemic abated and with it, valuable provision, and bed spaces. Yet despite this backdrop, our Accommodation and Advice teams rose to the challenge, housing more young people than previous years while also making the ground-breaking pilot of Hotel 1824 a success.
## Secure new resources and partnerships to improve emergency and long-term housing
With growing need and vastly increased numbers of young people being supported by us with the addition of our Hotel 1824 rough sleeping accommodation, the need for new housing pathways and partnerships was very pertinent. So, we are very proud to have housed 274 young people in the year in emergency and short stay accommodation and 266 in long stay accommodation, using extensive partnerships with landlords, the sector and Housing Associations to do so. We continued to increase the alternatives available for young people across different needs so that our direct referral pathways now incorporate options from two months through to independent and ongoing homes. Sadly, the need for our emergency fund – money for young people sleeping rough and those at risk to stay in hotels and backpackers’ hostels – was the highest it has ever been. In the year we spent £32,911 to accommodate young people for a total of 1,124 nights.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## Deliver a successful pilot of Hotel 1824, using the learning to secure a continued commission
Hotel 1824 is London’s only youth-specific emergency accommodation hub open to any young person aged 18-24 years who is rough sleeping or at immediate risk of doing so. The project was established as a response to increasing levels of homelessness and rough sleeping experienced by young people in London, which has been exacerbated by the Covid-19 pandemic. Hotel 1824 was a partnership between New Horizon Youth Centre and Depaul UK and was supported by the Greater London Authority and London Councils. Given also its local political support, it was unique in offering pan-London provision.
The project ran as a 12-month pilot, starting from March 2021 and based in a 40-bed hotel in Hounslow. During the year 185 young people stayed at the project with 132 young people moving on to positive housing outcomes after their average stay of two months. As a mark of its success, only four of the young guests had another rough sleeping experience after their stay.
The success of the project meant we were able to gain continued support from the Greater London Authority and the Department of Levelling Up, Housing and Communities for this youth-specific approach. Now named the ‘Youth Hub’, we will open a pan-London emergency accommodation at a different site in partnership with Depaul UK this winter. Moreover, age-appropriate solutions for young people are now embedded in local commissioning and national rough sleeping strategy.
“The life chances of all young people have been hurt by the pandemic, and this has been most severely felt by those vulnerable young people who find themselves homeless. This new hub will recognise the unique challenges faced by young people on the streets, and this innovative new approach will ensure vulnerable young people get a range of different types of support that they need.
_Sadiq Khan, Mayor of London_
## Embed a flexible, hybrid model of advice delivery at the centre and remotely
Although the increased opening of the physical day centre saw us deliver more face-to-face advice, we continued to evolve our remote advice service so that we could help more young people and improve accessibility. This hybrid offer now offers the best of both worlds and caters for differing needs. Those who are able can access face-to-face advice in the drop-in, whilst anyone with physical access issues or concerns around risk can continue to work remotely. In the year 711 young people accessed our advice service and received 2,444 sessions of support. The team also provided 1,298 instances of advocacy to statutory services and supported 534 young people to access benefits.
## Provision: offering a high quality, one stop shop of services at our drop in, remotely and through our outreach
The second year of the pandemic continued to bring fresh challenges to how we run our services. Unlike the previous year, we managed to stay open despite the challenging period during Christmas when there was a surge in Covid-19 cases as a result of Omicron. As with our Advice and Accommodation services, during the year we continued to operate a hybrid model of working, with a mix of both remote and, increasingly, face-to-face support. Remote services helped us to maintain a wide reach, for example supporting the growing numbers of women and young people in outer boroughs. Face to face work in the drop-in remained a critical means of support for those in high-risk situations and who found themselves sleeping rough.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## Improve young people’s access to a consistent and streamlined offer of services
During the year our services continued to be in high demand, with the mix of both remote and inperson support, working well for a diverse group of young people. After a year of closures and tight restrictions in 2020, we were pleased to start welcoming more young people back into the day centre, albeit prioritising those who most needed our help. The reopening and reinvention of the day centre began with more communal activities taking place after a hiatus in the pandemic and we were pleased to commence a range of activities such as late-night supper clubs, stand-up comedy, and day trips. During the year, 418 young people attended with 168 young people being supported with education, training and employment and 173 engaging in our life-skills programme (including our trans-inclusive men’s and women’s groups).
Although the street-based work of our Outreach Team’s had never altered in the early stages of the pandemic, it had even more relevance this year with growing numbers of young rough sleepers and the pathway into our newly created accommodation hub, Hotel 1824. The closer working with the GLA on this agenda also meant a greater chance to share best practice with the more generic homelessness services about the specific ways that young people experience the streets. The easing of the pandemic also allowed the team to re-start work in prisons. During the year we helped 344 young people impacted by serious youth violence and criminal exploitation and helped 100 young people in or leaving prison after regaining access post pandemic.
## Commit to developing our Trauma Informed Model across our people and practice
We had started the year committed to further enhancing our trauma informed approaches and ensuring that our new ways of working and growing service offer reflected this. The Leadership Team took part in relevant training and reflective practice sessions but the fast-changing nature of the pandemic and its effect on our services meant that we were not able to make further progress. The priority has been moved to the next financial year and a new commitment to the agenda has been made under our new strategy.
## Review and establish an effective mental and emotional health offer for young people
Given the pandemic, health provision continued to be a main focus and in-demand service with 178 young people being helped by the nurse and 93 young people using 748 counselling sessions. We saw a growing need for emotional wellbeing support for young people and staff and, after consultation with them, co-designed a brand-new health programme as part of the strategic review, ready for roll out in the next year.
As one of our new four key outcome areas, the new health programme will bring together the existing but disparate health offers within the centre and add in extra psychological and counselling support. We expect to significantly grow both the depth and breadth of the support we can offer young people as a result. The team will also take on responsibility for driving forward trauma informed working practices and take the lead on reflective and clinical practice within the centre.
## Partnerships: Collaborating to ensure that young people’s experiences are visible and acted upon
Working with others has always been at the heart of what we do, and it felt more important than ever this past year. As the societal challenges for young people persisted, we continued to fight to put them on the political and public agenda through our policy partnerships and we strived to optimise our offer to them through working with others. Making all of this work possible, our fundraising team worked tirelessly to develop new relationships and sustain a growing New Horizon.
_NEW HORIZON YOUTH CENTRE LIMITED_ Strategic report For the year ended 31 March 2022
## Establish the London Youth Gateway as best practice in youth homelessness and strategic development
In March 2022 we successfully completed delivery of our 5-year youth homelessness partnership for London Councils. Working with Depaul UK, Shelter, Stonewall Housing, akt and Galop, we helped 29,310 young people across the capital during those years to prevent or resolve their homelessness. Through the summer of 2021 we further developed the partnership to include better centralised systems and services and, in response to growing numbers of young migrants needing support, added immigration specialists Praxis to the partnership. In February we found out at the London Youth Gateway had successfully been recommissioned by London Councils for 2022-2026 and we continue to explore ways to expand our partnership beyond this.
## Made tangible changes to policy and practice for young people facing homelessness
Our frontline insights into the challenges for young people experiencing homelessness, coupled with our growing communications and policy expertise, uniquely places us to create systemic change. In the year we were proud to have done so across a number of areas.
In particular, our sustained policy focus on young people sleeping rough ensured Mayoral commitment to ringfence a proportion of the GLA annual rough sleeping budget for under 25s and secured their commitment to embed a youth specific service in their commissioning. In turn, our successful campaigning work, our ongoing engagement with key local and national decisionmakers and stakeholders, the media and communication impact of our Hotel 1814 emergency project pilot and our excellent partnership work with the GLA, who prioritised this project for its Rough Sleeping Initiative bid, ensured national interest and funding from the Department for Levelling Up, Communities and Housing.
We resumed significant work with Stella Creasy MP around ensuring young people affected by serious violence are considered a priority for housing. Together we used the parliamentary process related to the Policing, Crime, Sentencing and Courts Bill to this end. Consequently, Government conceded that it would include a dedicated chapter to victims of serious violence in the Homeless Code of Guidance. This should help to ensure young people impacted by serious violence experience fewer difficulties in receiving the main homeless duty from local authorities when presenting as homeless due to violence or the threat of violence. Via the Ministry of Justice and DLUHC, we are currently checking if Government is acting on this concession. We continue to champion change around housing and safety for this overlooked group of young people and submitted a call for evidence response to the Commission on Young Lives.
We want our change-work to be evidence-led. As such we commissioned an external evaluation of our ground-breaking Enhanced Resettlement Project, which we’re delivering in partnership with LB Camden Youth Offending Service in 2018-22. Designed as a child-centred way to reduce reoffending amongst children and young people, the Ministry of Justice, the Mayor’s Violence Reduction Unit and others have shown particular interest in the project, so we are keen to share our learning.
In line with our partnership approach, we also joined forces with other organisations to establish best practice and policy change relevant to young people facing homelessness or involved in the criminal justice system. We worked with Just for Kids Law, Child Rights Alliance England and others on legislative proposals and briefings to improving housing outcomes for young people leaving care, submitting also a consultation response to the Independent Children’s Care Review. Some of our collective recommendations have been included in their final report, for Government to consider this year.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## Reframe our narrative about youth homelessness and refresh our brand
In the latter part of the year, as part of our Charity of the Year relationship with them, we commenced work with the global communications agency Havas to refresh our brand and narrative ready for launch in 2022. The initial work on this has focussed on brand narrative and a new approach for how we talk about young people, framing youth homelessness in more positive terms and structural barriers, and focussing on potential rather than deficit and disadvantage. We hope that the work can set the tone for how society, the sector and its funders see and invest in young people.
## Develop and grow our fundraising portfolio to reflect the changing needs of a post Covid economy
As the financial accounts set out below show, we delivered another surplus budget, ensuring we could solidify our reserves and designate sufficient funding for investment in our new strategy and ensure we could emerge from the pandemic strongly.
Our fundraising successes continue to derive from growing a loyal base of support across statutory, trust and corporate income with our successful 10 Days to Take on Youth Homelessness campaign in October again seeing local businesses make significant donations to our work. We also benefitted from a growing number of major donors, with several six figure donations being realised in the year contributing to a larger than expected income for the year.
## Platform: Sustaining a well-run organisation that invests in staff and celebrates the diversity that makes us a success
Whilst our finances may have been stable in the year, the external environment remained as volatile as ever. The initial adrenaline that carried everyone through 2020 had long since worn off and was replaced by change fatigue and frustration. Black Lives Matter was not dominating the headlines in the same way but the need to evolve our anti-racist practices felt more urgent than ever. The cumulative effects of these changes saw us face the same challenges as many other charities with higher staff turnover and a sense of change fatigue amongst the team. Our investment in and care for our staff is essential so that New Horizon can support young people most effectively, helping them adapt to, and work in, a new normal.
## Make good on our commitment to be anti-racist, embedding diversity across our work and practice
Our pursuit to become an anti-racist organisation continued throughout the year, being driven on by a Board Diversity Committee, Staff Diversity Group and a collectively owned Diversity Action Plan. All staff undertook three training modules on diversity and anti-racism, and we moved to embed the agenda in appraisals, supervisions and team meetings. During the summer we undertook a culture survey, working with Professor Carol Baxter and colleagues to facilitate a range of discussions around the results with staff and Trustees. A Board ‘Listening Group’ emerged out of this and continues to offer a safe space for staff to share their views directly with Trustees on issues affecting them. A notable success of the year included launching our Diversity Leadership Programme, a package of support, coaching and training for three staff, two of whom used the initiative to secure promotions.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## Invest in the Centre's equipment and facilities so that our face to face and remote delivery can thrive
We continued to evolve both the physical centre for Covid-safe working and our IT for better remote and hybrid working. Significantly, we moved the organisation to SharePoint and Office 365 whilst improving our cyber and remote working policies. Hybrid working dictated the need to further upgrade technology at the centre with new cameras installed on computers and new virtual meeting set ups in meeting rooms. We have designated a fund to ensure we can continue to evolve and invest in this in the years ahead.
## Complete a strategic review of how we can continue to best deliver our mission in a changed world
As Matthew shared in his introduction, Covid has changed everything, but a central truth remains in the capital: far too many young people find themselves unhoused, unsupported and unsafe. Worryingly these numbers are growing and may continue to grow. According to the Centrepoint Databank, nearly 122,000 young people in the UK approached their local authority in 2020/21 as they were homeless or at risk of homelessness.
Against this challenging backdrop, New Horizon Youth Centre has been reflecting on how we can best respond to these uncertain and rapidly evolving times. Through the summer and autumn of 2021, we spoke with national and local government, the wider homelessness sector, staff and, of course young people to consider the challenges faced and the solutions our new strategy needs to address. These conversations have crystallised and laid the foundation for a new strategy, Coming Back Stronger, which was launched in April 2022.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _FUTURE PLANS_
As well as constant adaptation, the last two years have required a fast-moving pace. There has been a sense of urgency to our work each day and there is a sense of urgency to find the long-term solutions too. Our strategy review has forced us to pause and reflect, to step off the wheels of change and consider our next steps. As Desmond Tutu, who sadly passed away recently, famously said; “There comes a point where we need to stop just pulling people out of the river. We need to go upstream and find out why they’re falling in.”
In the case of youth homelessness, it’s not so much about falling as pushing. Young people, disproportionately those from marginalised communities, are being pushed into situations of crisis. The Covid-19 pandemic worsened existing inequities and cracks in the system that are meant to protect our most at-risk community members. We’ve been fighting that for 55 years and we’re ready to keep doing so with renewed energy. We continue our work to prevent young Londoners ever facing a night on the streets, helping them to unlock the lives they deserve and fulfil their potential. We’re also working to change the systems that forced them into such risky and desperate situations in the first place.
As we all emerge into the ‘new normal’, it is critical that we ensure that young people, especially those experiencing homelessness, those who have been systemically denied a voice, are front and centre of thinking and investment. The severity of the situation demands a bolder and bigger response than we might previously have conceived necessary, and this response will require us to grow – in every sense of the word. We need to grow our staff headcount so that we can keep up with demand. We need to further invest in our policy and comms work so that we can campaign even harder. We need to invest more in our staff and look after them as they take on this challenge. And we need to do more to bring young people and all of our partners with us on the journey.
As we come out of the pandemic, the words of Najma, one of the young people we have supported this last year, reminds us “we need to come back and come back stronger”
_FOR AS LONG AS YOUNG PEOPLE ARE HOMELESS AND UNSAFE IN LONDON, WE WILL BE ON A MISSION TO GIVE THEIR POTENTIAL A HOME._
- To achieve our vision, there are three problems we must solve:
1. Too many young people cannot access any form of support when in crisis or about to be 2. Because too many of the services that should be providing this either don’t or cannot provide the appropriate and youth-specific help when it is most needed
3. Which stems from the fact that young people, especially those facing disadvantage, are being systematically ignored by policy makers and commissioners
And so, through 2022 to 2025 we are committed to:
1. Delivering high quality, trauma informed services for any young person that needs our support. So that we can offer the very best support to every young person who walks through our doors
2. Working with and through others to optimise our offer and maximise our impact. So that we can help more young people that will walk through our doors and open other doors for them
3. Saying what others won’t say and doing what other won’t do to ensure that no young person misses out
We will continue to focus on:
4. Sustaining a well-run organisation that invests in staff and celebrates the diversity that makes us a success.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _FINANCIAL REVIEW_
The results for the year are set out in the Statement of Financial Activities on page 26.
Despite the ongoing challenges posed by Covid-19 and its effects on society, New Horizon Youth Centre had another very strong year of financial performance. Having set another increased budget for the year, we were pleased to deliver our expenditure slightly below planned levels and again generate a surplus on unrestricted funds at year end.
During the year we continued to benefit from support from a wide range of statutory sources and charitable trusts and continued to see success in developing support from corporates and individuals, again with strong returns from our high-net-worth donor programme. In the year under review reliance on funding from statutory sources including London Councils, The Greater London Authority, Camden Council and the Irish Government increased to £1,465,015 (2021: £1,422,782.) Income from charitable trusts was also higher this year and stood at £1,160,420 (2021: £1,016,369.) Income from donations and gifts was £202,123 raised in year (2021: £256,354.)
The Board of Trustees remain confident in its ability to continue to raise funding from the public, private and voluntary sectors because of the respect New Horizon Youth Centre commands in the sector and through our strong relationships with supporters. As such, and with rising levels of need and a new strategy in place, it plans for a period of more ambitious growth with increases to its level of service in 2022-23 whilst also making some additional investments into the new areas of our strategy.
## Investment Powers and Policy
- In 2015, the Board of Trustees made a resolution to invest excess liquid funds, essentially set aside as a reserve buffer, with a reputable investment manager with a view to providing a return better than that available as a cash deposit. Rathbone Investment Management were appointed and the investment policy laid down is as follows:
- An investment objective to achieve a total return of “normalized” CPI of 2% plus 2% after costs
- A risk tolerant attitude measured as one third of the volatility of the FTSE All Share Index
- A medium to long term investment, namely 3-5 years
- Income generated to be distributed as received
- The portfolio to have regard of the ethical views of the Board of Trustees
During the financial year the portfolio gained ground and whilst income returned £9,886 (2021 - £10,447) to New Horizon, just short of the £10,000 objective, there was unrealised gain on capital values of £8,413 (2021 - gain of £61,573) at a cost of £4,541 (2021 - £4,268).
## Reserves policy
New Horizon Youth Centre is funded in a number of different ways, including significant grants and donations from a variety of sources and healthy levels of unrestricted income, including through the rental income on our accommodation projects. These diverse income streams mean we are not reliant on a single source of funding and are unlikely to see all of our income withdrawn at the same time.
The Trustees of New Horizon Youth Centre therefore base their reserves policy on the identified needs to:
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
- Mitigate the risk of unforeseeable expenditure, with regard to the upkeep of our� daycentre which requires ongoing maintenance (estimated at £50,000)
- Provide sufficient working capital for the following year, particularly to provide against�a downturn in income generation and an uncertain fundraising climate
- Invest in innovation, developing new areas of work and organisational development,� strengthening our ability to meet the demands of our work (estimated at £675,000 or� equivalent to 3 months running costs)
- Ensure that if needed, sufficient funding remains for a managed closure of the charity� (estimated at £423,000)
In line with our Reserves Policy the Trustees have examined the requirement for free reserves, namely those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The Trustees of New Horizon Youth Centre therefore believe that free reserves should total £1,148,000. This should be regularly reviewed to ensure that it meets the organisation’s changing needs and circumstances.
As of 31 March 2022, unrestricted funds stood at £1,535,310, of which £1,129,906 are free reserves, representing 100% of our target reserves level. Having reviewed this, and in consideration of our strategic ambitions for the year ahead with a continually challenging fundraising climate, the Trustees consider this to be an appropriate level of reserves for the organisation at this time.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _RISK MANAGEMENT_
New Horizon Youth Centre maintains a risk register to identify and manage the risks facing the centre and our work. The charity has established systems to enable regular reports to be produced so that the necessary steps can be taken immediately to mitigate any significant risks and our risk register is reviewed quarterly by our Leadership Team and every four months by our Audit and Risk Committee. The Board of Trustees has examined this and the key risks facing the organisation are detailed below:
|Safeguarding
the young
people we
are
supporting|
We have formal and robust safeguarding policies and procedures in
place which are reviewed annually and driven through an internal
Safeguarding Action Plan
Safeguarding is managed by three Designated Officers who have all
undergone training and is led by our Director of Operations
All employees and volunteers at New Horizon complete an internal
safeguarding induction within their first two months. This internal
training is then supplemented by mandatory annual safeguarding
training for all employees, delivered by outside specialists
Delivery staff take part in bi-monthly refresher training which is
tailored to the emerging safety and safeguarding needs within the
service
Safeguarding forms a part of our daily practice and is often a focus on
our twice staff de-brief and reflective practice meetings
We apply criteria for refusing services to young people because of risk|
|---|---|
|Ensuring we
can continue
to deliver our
mission in
fast
changing and
challenging
times|
New hybrid way of working established with high quality remote and
face to face offers in place for young people
Made this an ongoing priority and a main focus within the strategic
review and resulting strategy
Evolved our staff team and structure to strengthen front line delivery
and management capacity
Staff Care plan has been developed and actioned in consultation with the
team and led by our new Health team.
Health plans being reviewed so that we can further strengthen reflective
practice, clinical supervision and wider support
Diversity Working Group and Staff Diversity Group making good progress
on EDI plans and delivering an evolving diversity action plan|
|Securing
ongoing
income for
our mission
and managing
costs|
Ensured we have a robust and evidence-based case for support for the
ongoing – and growing – need for our work
Developed strong multiyear funding relationships with trusts and
foundations and institutional funders, growing this core support year on
year
Developed strands of work around corporates and high net worth
individuals with a calendar of events to support the success of these
Prioritised stewardship for all of our supporters
Reviewing costs across the organisation and in light of cost of living crisis
and ensuring both us and our partners remain going concerns|
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _STRUCTURE, GOVERNANCE AND MANAGEMENT_
## Governing document
New Horizon Youth Centre is a charity and company limited by guarantee incorporated on 11 October 1978 and governed by its Memorandum and Article of Association. In 2016 the directors of the company, comprising all of the Board of Trustees – each of whom is a Trustee of the charity for the purposes of the Charity Commission – adopted a revised Memorandum and Articles of Association.
All of the members of the Trustee Board are also members of the Company and undertake to contribute £1 to the company in the event of winding up whilst members, or within one year of ceasing membership. Furthermore, membership of the company is by invitation by the Board only, such invitation to require a simple majority. The Articles stipulate that there shall be a minimum of five directors but, unless otherwise determined by ordinary resolution, there is no maximum number.
## Organisation
The Trustees have ultimate responsibility for the governance, strategy and direction of the centre. Operationally the Trustees have appointed a Chief Executive to manage the day to day operations of the charity, along with their Leadership Team. The Board ensures that the Chief Executive is appraised annually and their salary assessed in line with the sector norms taking comparisons based on size, budget and field of practice from similar organisation in the region.
The Board of Trustees meet six times per year for formal meetings and its work is supplemented by an Audit and Risk Committee which meets every four months to ensure a more detailed focus is in place around risk management and safeguarding, as well as a Diversity Committee to ensure that New Horizon Youth Centre continues to develop it’s antiracist practices.
During the 2021-2022 financial year, with an increasingly complex operating environment in mind, the Board further evolved the scope and breadth of its’ committees. The Diversity Working Group evolved to become and Diversity and Organisation Development Committee so that it could also oversee staff care and people practices. To give further support and scrutiny to our finances, a new Finance Committee was created. The Committee meets six times per year and is Chaired by the Treasurer with four additional members, including the Chair of Trustees. We also set up a time-limited Strategy Working Group to support the Leadership Team with the strategic review through the autumn and winter. New Terms of Reference were drawn up for all committees and our scheme of delegation was amended to ensure clarity on reporting lines and authorities. The trustees retain sign-off of the strategic direction of the charity and key financial matters, including the budget.
## Charitable objects
The charity’s objects are specifically restricted to the following:
- The relief of young people who through sickness, poverty or distress are in need of care and attention (which young people hereinafter are called “the beneficiaries”)
- The advancement of the education and training of the beneficiaries including their rehabilitation (where appropriate) and advancement in life; and
- In the interests of social welfare, the provision of facilities for the recreation or other leisure-time occupation of the beneficiaries so as to develop their physical, mental and spiritual capacities and so that their conditions of life may be improved.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## Public benefit statement
The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's objects, activities and plans for the future. The Trustees confirm, in the light of the guidance, that these aims fully meet the public benefit test and that all the activities of the charity, described in the Report, are undertaken in pursuit of these aims.
## Appointment of Trustees
The Trustees undertake an annual audit of the skills required to effectively govern the charity and recruit where appropriate to provide the oversight of the company's activities and fulfil its obligations, legal and otherwise. All potential Trustees are interviewed by the Chair, Chief Executive and panel of existing Trustees and have the opportunity to observe meetings before being formally voted on to the Board. The Audit and Risk Committee has developed a comprehensive Governance Framework that provides guidance to new Trustees on their legal responsibilities. The Leadership Team provides an induction to new Trustees ensuring that they have an overview of the operations and practices within the centre.
## Related parties
The Trustees have procedures in place for identifying related parties and transactions with them. Any identified related party transactions are reported on in the notes to the financial statements.
_NEW HORIZON YOUTH CENTRE LIMITED_ Trustee's Annual report For the year ended 31 March 2022
## _BOARD OF TRUSTEES’ RESPONSIBILITIES_
The trustees (who are also directors of New Horizon Youth Centre for the purposes of company law) are responsible for preparing the trustees’ annual 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 year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice 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 charity will continue in operation
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
There is no relevant audit information of which the charitable company’s auditor is unaware The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2022 was 9 (2021:8). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.
The trustees’ annual report has been approved by the trustees on 22 November 2022 and signed on their behalf by:
Gemma Rocyn Jones Treasurer
_INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW HORIZON YOUTH CENTRE LIMITED_ For the year ended 31 March 2022
_INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NEW HORIZON YOUTH CENTRE LIMITED_
## Opinion
We have audited the financial statements of New Horizon Youth Centre Limited (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
- Have been prepared in accordance with the requirements of the Companies Act 2006
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on New Horizon Youth Centre Limited's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## Other Information
The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If,
_INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW HORIZON YOUTH CENTRE LIMITED_ For the year ended 31 March 2022
based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- The trustees’ annual report has been prepared in accordance with applicable legal requirements.
## Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- The financial statements are not in agreement with the accounting records and returns; or
- Certain disclosures of trustees’ remuneration specified by law are not made; or
- We have not received all the information and explanations we require for our audit.
## Responsibilities of trustees
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
_INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW HORIZON YOUTH CENTRE LIMITED_ For the year ended 31 March 2022
## Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
- Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
- The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.
- We inspected the minutes of meetings of those charged with governance.
- We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
- We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
- We reviewed any reports made to regulators.
- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## Use of our report
This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose.
_INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NEW HORIZON YOUTH CENTRE LIMITED_ For the year ended 31 March 2022
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Fleur Holden (Senior statutory auditor)
5 December 2022 for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL
## _NEW HORIZON YOUTH CENTRE LIMITED_
Statement of financial activities (incorporating an income and expenditure account)
## For the year ended 31 March 2022
|Note
Income from:
2
London Youth Gateway Partnership
3
4
5
6
7
7
7
7
7
London Youth Gateway Partnership
7
19
Reconciliation of funds:
Net gains on investments
Total funds carried forward
Total funds brought forward
Net income / (expenditure) for the
year
Grants from Charitable Trusts
Cost of generating income
Total expenditure
Net income / (expenditure) before net
gains on investments
Charitable activities
Partnerships
Platform
Provision
Places
Investments
Total income
Expenditure on:
Other trading activities
Charitable activities
Grants and Donations
Donations and gift aid
Provision
Places
Partnerships
Platform|Unrestricted
£
-
-
-
-
-
578,934
202,123
101,064
9,886|Restricted
£
841,268
405,819
207,229
84,900
510,085
-
-
-
-|2022
Total
£
841,268
405,819
207,229
84,900
510,085
578,934
202,123
101,064
9,886
2,941,308
190,143
947,016
424,036
283,239
428,133
510,085
2,782,652
12,781
171,437
2,173,958
2,345,395
158,656|_restated_
Unrestricted
£
-
-
-
-
-
511,604
256,354
117,257
10,488|_restated_
Restricted
£
937,095
265,305
205,522
74,738
510,085
-
-
-
-|2021
_restated_
Total
£
937,095
265,305
205,522
74,738
510,085
511,604
256,354
117,257
10,488|
|---|---|---|---|---|---|---|
||892,007|2,049,301||895,703|1,992,745|2,888,448|
||190,143
99,407
11,854
38,879
336,618
-|-
847,609
412,182
244,360
91,515
510,085||154,846
147,199
127,733
5,080
111,334
-|-
898,326
296,223
201,806
117,856
510,085|154,846
1,045,525
423,956
206,886
229,190
510,085|
||676,901|2,105,751||546,192|2,024,296|2,570,488|
||12,781
215,106|-
(56,450)||55,053
349,511|-
(31,551)|55,053
317,960|
||227,887
1,307,423|(56,450)
866,535||404,564
902,859|(31,551)
898,086|373,013
1,800,945|
||1,535,310|810,085||1,307,423|866,535|2,173,958|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 20a to the financial statements.
26
_NEW HORIZON YOUTH CENTRE LIMITED_
Company no. 01393561
## Balance sheet
## As at 31 March 2022
|2022
Note
£
£
£
_restated_
13
658,514
14
539,171
1,197,685
15
362,163
88,428
1,513,514
1,164,078
1,875,677
1,252,506
16
(727,967)
(361,198)
1,147,710
2,345,395
19
810,085
380,149
73,876
1,155,161
1,233,547
Total unrestricted funds
1,535,310
2,345,395
Designated funds
Fixed assets:
Tangible assets
Investments
Current assets:
Debtors
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within one year
Net current assets
Total net assets
The funds of the charity:
Restricted income funds
Unrestricted income funds:
General funds
Total charity funds
Approved by the trustees on 22 November 2022 and signed on their behalf by|2021
£
_restated_
751,892
530,758|
|---|---|
||1,282,650
891,308
2,173,958|
||866,535
1,307,423|
||2,173,958|
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 and signed on their behalf by:
Matthew Reed Chairman
Gemma Rocyn Jones Treasurer
27
_NEW HORIZON YOUTH CENTRE LIMITED_
## Statement of cash flows
For the year ended 31 March 2022
|Cash at bank and in hand
Overdraft facility repayable on demand
Total cash and cash equivalents
Cash flows from operating activities
Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Gains on investments
Dividends and interest
Loss on the disposal of fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Cash flows from investing activities:
Dividends and interest
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash used in investing activities
Change in cash and cash equivalents in the
Cash and cash equivalents at the beginning of
the year
Cash and cash equivalents at the end of the
year
Analysis of cash and cash equivalents|£
£
171,437
102,455
(12,781)
(9,886)
688
-
(273,735)
366,769
344,947
9,886
(9,765)
47,882
(43,514)
4,489
349,436
1,164,078
1,513,514
At 1 April
£
1,164,078
-
1,164,078
2022|£
£
171,437
102,455
(12,781)
(9,886)
688
-
(273,735)
366,769
344,947
9,886
(9,765)
47,882
(43,514)
4,489
349,436
1,164,078
1,513,514
At 1 April
£
1,164,078
-
1,164,078
2022|_restated_
_restated_
£
£
373,013
107,192
(55,053)
(10,488)
-
-
30,574
(137,022)
308,216
10,488
(32,257)
62,639
(58,370)
(17,500)
290,716
873,362
1,164,078
Cash flows
At 31 March
£
£
349,436
1,513,514
-
-
349,436
1,513,514
2021|_restated_
_restated_
£
£
373,013
107,192
(55,053)
(10,488)
-
-
30,574
(137,022)
308,216
10,488
(32,257)
62,639
(58,370)
(17,500)
290,716
873,362
1,164,078
Cash flows
At 31 March
£
£
349,436
1,513,514
-
-
349,436
1,513,514
2021|
|---|---|---|---|---|
||||Cash flows
£
349,436
-
349,436||
|||349,436
1,164,078
1,513,514
At 1 April
£
1,164,078
-
1,164,078||290,716
873,362
1,164,078
At 31 March
£
1,513,514
-|
|||||1,513,514|
28
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
## 1 Accounting policies
## a) Statutory information
New Horizon Youth Centre Limited is a charitable company limited by guarantee and is incorporated in England and Wales.
The registered office address and principal place of business is 68 Chalton Street, London, NW1 1JR.
## b) Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.
## c) Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## d) Going concern
The charity meets its running costs from grants and donations received. The nature of the charity's operations is such that there can be unpredictable variations in the timing and amount of cash inflows. The trustees have prepared projected cash flow information for the period up to 31 March 2024 and beyond and the cash inflows assume receipts of donations which, owing to their nature, cannot be quantified, both in respect of timing and amounts, with any certainty. These have been included in the projections on the basis of amounts received in the past years and expected to be received up to 31 March 2024 and beyond.
On the basis of this cash flow information, the trustees consider that the charity will continue in operational existence for the foreseeable future.
## e) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
29
_NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
## For the year ended 31 March 2022
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
## f) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## g) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## h) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
## i) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds relate to the costs incurred by the charity in attracting voluntary income, and those incurred on activities that raise funds. They include an allocation of the senior worker's cost most closely involved in this activity.
- Expenditure on charitable activities includes costs incurred on the Charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. - Other expenditure represents those items not falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## j) Grants payable
Grants payable are made to third parties in furtherance of the charity's objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.
30
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
## l) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £400. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- Long-term leasehold property
- Office equipment
Over the life of the lease, currently 20 years Straight line over 4 years
## Listed investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.
## m) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## n) Cash at bank and in hand
Cash at bank and cash 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 Cash held with the investment broker is included in investments.
## o) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## p) Pensions
The charity operates a defined contribution scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
||payable by the charity to the fund in respect of the year.|||
|---|---|---|---|
|2|Income from charitable activities|2022|2021
_restated_|
|||Restricted|Restricted|
|||£|£|
|i)|Provision|||
||BBC Children in Need|-|17,793|
||Calleva Foundation|15,000|-|
||Charles French Trust|2,000|-|
||Charles Hayward Foundation|-|20,000|
||Co-Op Foundation|-|35,000|
||Drapers Charitable Trust|25,000|13,333|
||Embassy of Ireland|7,590|30,360|
||Fine and Country Foundation|1,500|-|
||Garfield Weston Foundation|-|40,000|
||Greater London Authority - Young Londoners Fund|217,459|187,384|
||Groundwork UK|-|30,000|
||Irish Youth Foundation|14,000|14,000|
||John Lyon's Charity|28,000|28,000|
31
_NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
## For the year ended 31 March 2022
||London Borough of Camden:|||
|---|---|---|---|
||Children, Schools and Families - youth grant|25,000|25,000|
||Community Infrastructure Levy|50,000|-|
||Community Impact Fund - youth offending programme|25,000|100,000|
||CCG NHS Trust - nurse' post|44,000|44,000|
||Violence Reduction Unit - youth offending programme|25,000|-|
||London Councils|238,942|264,074|
||Matrix Causes Fund|3,000|-|
||Mercer's Company|22,332|-|
||Merck Sharp and Dohme Coharitable Foundation|30,089|10,000|
||National Foundation Youth Music|-|10,831|
||Sage Foundation|12,885|-|
||Somers Town Community Association|22,181|1,336|
||St James's Place Foundation|-|50,000|
||Tesco Community Grant|1,000|-|
||The National Lottery Community Fund|2,270|9,984|
||Tides Foundation|17,770|-|
||Two Magpies Fund|1,250|-|
||Wates Family Enterprise|-|6,000|
||Wellcome Community Support|10,000|-|
||Total for Provision|841,268|937,095|
|ii)|Places|||
||City Bridge Trust|50,000|50,000|
||Depaul UK|125,051|-|
||Gisela Graham Foundation|2,000|-|
||Global Makes Some Noise|-|18,000|
||Greater London Authority|-|1,000|
||LandAid|4,750|18,700|
||LandAid - Deposit Fund|21,000|-|
||LHA London|15,000|15,000|
||LHA London Capital Fund (Covid Grant)|-|15,315|
||London Borough of Camden:|||
||Community Partnership - Advice grant|20,000|20,000|
||London Councils|113,518|59,790|
||Regents' Place|-|3,000|
||Streets of London|-|10,000|
||The Goldsmith's Company Charity|19,500|19,500|
||The Henry Smith Charity Trust|35,000|35,000|
||Total for Places|405,819|265,305|
|iii)|Partnerships|||
||Bank of America|-|37,898|
||Hyde Group|1,800|-|
||London Borough of Camden:|||
||Violence Reduction Unit - youth offending programme|31,250|10,000|
||London Councils|72,271|99,651|
||Oak Foundation|93,603|57,973|
||The Progress Foundation|8,305|-|
||Total for Partnerships|207,229|205,5**2**2|
32
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
|iv)|Platform|||
|---|---|---|---|
||London Councils|84,900|74,738|
||Total for Platform|84,900|74,738|
||Total income from charitable activities|1,539,216|1,482,660|
* Embassy of Ireland: Emigrant Support Programme provided a grant of £22,770 for the period from 1 October 2020 to 30 June 2021. This income has been recognised as restricted income and spread evenly over the grant period, as required by the donor. An amount of £7,590 was released to income from prior period deferred income. There has been no duplication of funding for the same activity covered by the this grant and the grant has been used to fund a case worker's salary. ** The Capital Grant-S106 was awarded in 2019/20 to cover the costs of purchasing IT equipment, photocopiers, storage space and a fridge. The assets are being depreciated in accordance with the depreciation policy.
## London Councils grant
In accordance with the London Councils grant funding, the following disclosures are made:
The grant received from the London Councils has been utilised as specified in the terms of the LYG partnership agreement in accordance with Section 37. The following table illustrates how money was allocated across the partnership and that it has been used for the purposes outlined in the funding agreement:
## Grantor: Project: London Councils London Youth Gateway
||Grant|Retention|Total grant|Grant|
|---|---|---|---|---|
||received|(Grant due)|due|spent|
|Partner|£|£|£|£|
|New Horizon Youth Centre|456,732|41,521|498,253|516,084|
|Stonewall Housing|99,693|9,063|108,756 1|108,756|
|Albert Kennedy Trust|28,551|2,596|31,147|34,503|
|Galop|18,876|1,716|20,592|20,592|
|Shelter|44,863|4,078|48,941|48,941|
|Depaul Alone in London|204,603|18,600|223,203|217,330|
|Depaul Nightstop|70,992|6,454|77,446|77,455|
|Total|924,310|84,028|1,008,338|1,023,661|
The following table illustrates how the total grant was spent in accordance with the purposes outlined in the funding agreement:
|in the funding agreement:|||||
|---|---|---|---|---|
||Grant|Retention|Grant|Grant|
||received|(Grant due)||spent|
||£|£|£|£|
|Staff costs|694,303|63,118|757,421|783,017|
|Beneficiary costs|20,265|1,842|22,107|20,719|
|Overheads|90,242|8,204|98,446|87,396|
|Other direct costs|119,500|10,864|130,364|132,529|
|Total|924,310|84,028|1,008,338|1,023,661|
33
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
## 3. Income from grants from charitable trusts
|3.|Income from grants from charitable trusts|||
|---|---|---|---|
|||2022|2021|
||||_restated_|
|||Unrestricted|Unrestricted|
|||£|£|
||Grants from charitable trusts|578,934|511,604|
||Included in Grants from Charitable Trusts are the following grants|which have been fully expended in||
||the year and require specific reference in the financial statements in accordance with the associated|||
||grant agreement:|||
|||2022|2021|
|||£|£|
||Esmee Fairbairn Foundation|65,000|97,500|
|4|Income from donations and gift aid|2022|2021|
|||Unrestricted|Unrestricted|
|||£|£|
||Donations - individuals|117,955|80,691|
||Donations - companies|59,845|161,290|
||Legacies|10,000|-|
||Gift aid|14,323|14,373|
||All income from donations and gift aid is unrestricted.|202,123|256,354|
|5|Income from other trading activities|||
|||2022|2021|
|||Unrestricted|Unrestricted|
|||£|£|
||Accommodation project (Vista rental income)|54,068|52,687|
||Fundraising income|20,904|-|
||Other income|26,092|64,570|
||All income from trading activities is unrestricted.|101,064|117,257|
|6|Income from investments|||
|||2022|2021|
|||Unrestricted|Unrestricted|
|||£|£|
||Income from investments|9,753|10,019|
||Bank interest|133|469|
||All income from investments is unrestricted.|9,886|10,488|
34
_NEW HORIZON YOUTH CENTRE LIMITED_ Notes to the financial statements
## For the year ended 31 March 2022
|Cost of
generating
income
163,533
-
2,053
-
4,541
8,115
-
-
178,242
9,658
2,243
190,143
154,846
Analysis of expenditure (current year)
Staff costs (Note 9)
Young People Direct costs
Centre support costs
Other running costs
Finance and legal costs
Communications and fundraising
London Youth Gateway Partnership
Depreciation
Support costs
Governance costs
Total expenditure 2022
Total expenditure 2021
7a.|Provision
Places Partnerships
Platform
London
Youth
Gateway
Partnership
Support
costs
Governance
costs
2022
Total
2021 Total
£
£
£
£
£
£
£
750,405
274,273
187,799
173,355
-
107,622
8,669
1,665,656
1,528,090
36,477
88,928
736
253
-
-
-
126,394
130,088
20,918
9,565
8,704
16,121
-
109,967
-
167,328
135,982
79,943
24,297
2,372
37,954
-
-
-
144,566
70,478
-
433
-
-
-
37,959
15,120
58,053
69,152
-
-
-
-
-
-
-
8,115
19,421
-
-
-
-
510,085
-
-
510,085
510,085
-
-
-
-
-
102,455
-
102,455
107,192
887,743
397,496
199,611
227,683
510,085
358,003
23,789
2,782,652
2,570,488
48,104
21,539
81,117
197,585
-
(358,003)
-
-
-
11,169
5,001
2,511
2,865
-
-
(23,789)
-
-
947,016
424,036
283,239
428,133
510,085
-
-
2,782,652
1,045,525
423,956
206,886
229,190
510,085
-
-
2,570,488
Charitable activities|
|---|---|
35
_NEW HORIZON YOUTH CENTRE LIMITED_ Notes to the financial statements For the year ended 31 March 2022
## 7b. Analysis of expenditure (prior year)
|Cost of
generating
income
Staff costs (Note 9)
119,873
Young People direct costs
-
Centre support costs
-
Other running costs
-
Finance and legal costs
4,268
Communications and fundraising
19,421
London Youth Gateway Partnership
-
Depreciation
143,562
Support costs
9,305
`
Governance costs
1,979
Total expenditure 2021
154,846|Provision
Places Partnerships
Platform
~~London~~
Youth
Gateway
Partnership
Support
costs
Governance
costs
2021 Total
£
£
£
£
£
£
887,192
279,621
117,140
8,264
-
107,000
9,000
1,528,090
25,998
96,933
630
6,527
-
-
-
130,088
3,301
5,807
820
2,142
-
123,912
-
135,982
52,843
5,300
8,320
4,015
-
-
-
70,478
-
5,400
-
-
-
45,684
13,800
69,152
-
-
-
-
-
-
-
19,421
-
-
-
-
510,085
-
-
510,085
-
-
-
-
-
107,192
-
107,192
969,334
393,061
126,910
20,948
510,085
383,788
22,800
2,570,488
62,827
25,476
78,226
207,954
-
(383,788)
-
-
13,364
5,419
1,750
288
-
-
(22,800)
-
1,045,525
423,956
206,886
229,190
510,085
-
-
2,570,488
Charitable activities|
|---|---|
36
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
- 8 Net income / (expenditure) for the year This is stated after charging / (crediting):
|Net income / (expenditure) for the year
This is stated after charging / (crediting):|||
|---|---|---|
||2022|2021|
||£|£|
|Depreciation|102,455|107,192|
|Loss or profit on disposal of fixed assets|688|-|
|Operating lease rentals payable:|||
|Property|36,600|36,600|
|Auditor's remuneration (excluding VAT):|||
|Audit|12,600|13,800|
|Other services|-|4,200|
|Prior year under accrual|-|8,700|
9 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management Staff costs were as follows:
|Staff costs were as follows:|||
|---|---|---|
||2022|2021|
||£|£|
|Salaries and wages|1,356,070|1,299,749|
|Social security costs|133,958|127,165|
|Employer’s contribution to defined contribution pension schemes|72,681|70,843|
|Staff recruitment costs|24,904|13,243|
|Temporary staff and consultants|30,570|-|
|Other staff costs|47,472|17,090|
||1,665,655|1,528,090|
The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:
## £70,000 - £79,999
|2022|2021|
|---|---|
|No.|No.|
|1|1|
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £86,685 (2021: £83,732).
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).
For the purposes of the Government of Ireland grant, 1 employee received remuneration between €80,000 and €90,000 (excluding employer national insurance and employer pension contributions). Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2021: £nil).
## 10 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was 43 (2021: 46).
Staff are split across the activities of the charity as follows (full time equivalent basis):
Youth, advice, resettlement, life skills and outreach workers
|2022|2021|
|---|---|
|No.|No.|
|40|43|
37
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
## Administration
|3|3|
|---|---|
|43|46|
## 11 Related party transactions
There are no related party transactions to disclose for this financial year (2021: none).
## 12 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable
## 13 Tangible fixed assets
|Tangible fixed assets||||
|---|---|---|---|
||Long-term|||
||Leasehold|Office||
||property|equipment|Total|
|Cost|£|£|£|
|At the start of the year|1,560,927|396,679|1,957,606|
|Additions in year|-|9,765|9,765|
|Disposals in year|-|(150,809)|(150,809)|
|At the end of the year|1,560,927|255,635|1,816,562|
|Depreciation||||
|At the start of the year|860,811|344,903|1,205,714|
|Charge for the year|78,046|24,409|102,455|
|Eliminated on disposal|-|(150,121)|(150,121)|
|At the end of the year|938,857|219,191|1,158,048|
|Net book value||||
|At the end of the year|622,070|36,444|658,514|
|At the start of the year|700,116|51,776|751,892|
All of the above assets are used for charitable purposes.
14 Listed investments
|Listed investments|||
|---|---|---|
||2022|2021|
||£|£|
|Fair value at the start of the year|516,573|467,233|
|Additions at cost|43,514|56,926|
|Disposal proceeds|(36,813)|(69,159)|
|Net gain on change in fair value|12,781|61,573|
||536,055|516,573|
|Cash held by investment broker pending reinvestment|3,116|14,185|
|Fair value at the end of the year|539,171|530,758|
|Investments comprise:|||
||2022|2021|
||£|£|
|UK equities|69,273|52,727|
|Overseas equities|144,875|138,503|
|Other investments|87,500|80,745|
|Bonds|234,407|244,598|
|Cash|3,116|14,185|
||539,171|530,758|
38
_NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
## For the year ended 31 March 2022
|15|Debtors|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||Trade debtors|270,684|49,666|
||Other debtors|21,323|15,784|
||Prepayments|27,649|18,388|
||Accrued income|42,507|4,590|
|||362,163|88,428|
|16|Creditors: amounts falling due within one year|||
|||2022|2021|
||||_restated_|
|||£|£|
||Trade creditors|124,909|13,191|
||Taxation and social security|43,814|48,270|
||Other creditors|18,094|53,640|
||Accruals|67,460|24,922|
||Deferred income (note 18)|473,690|221,175|
|||727,967|361,198|
|17|Deferred income|||
|---|---|---|---|
||Deferred income comprises grants received in advance.|||
|||2022|2021|
||||_restated_|
|||£|£|
||Balance at the beginning of the year|221,175|361,182|
||Amount released to income in the year|(221,175)|(361,182)|
||Amount deferred in the year|473,690|221,175|
||Balance at the end of the year|473,690|221,175|
All grants received in advance in the previous financial year totalling £371,495 were applied against planned expenditure in the financial year ended 31 March 2022. Grants received in advance before 31 March 2022 relating to expenditure that will be expended in the next financial year total £700,140. This includes the following amount which requires specific disclosure per the grant agreements: London Borough of Camden - Violence Reduction Unit - £50,000.
||Borough of Camden - Violence Reduction Unit|- £50,000.||||
|---|---|---|---|---|---|
|18a|Analysis of net assets between funds
(current year)|General
£|Designated
£|Restricted
£|Total funds
£|
||Tangible fixed assets|25,255|-|633,259|658,514|
||Investments|539,171|-|-|539,171|
||Net current assets|590,735|380,149|176,826|1,147,710|
||Net assets at 31 March 2022|1,155,161|380,149|810,085|2,345,395|
|18b|Analysis of net assets between funds (prior year restated)|||||
|||General|Designated|Restricted|Total funds|
|||£|£|£|£|
||||||39|
## _NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
For the year ended 31 March 2022
||Tangible fixed assets|||32,611|-|807,153|839,764|
|---|---|---|---|---|---|---|---|
||Investments|||530,758|-|-|530,758|
||Net current assets|||670,178|73,876|59,382|803,436|
||Net assets at 31 March 2021|||1,233,547|73,876|866,535|2,173,958|
|19a|Movements in funds (current year)|||||||
|||At 1 April||Income &|Expenditure||At 31 March|
|||2021||gains|& losses|Transfers|2022|
||||£|£|£|£|£|
||Restricted funds:|||||||
||Operating Services|||||||
||Calleva Foundation||-|15,000|(15,000)|-|-|
||Charles French Trust||-|2,000|(543)|-|1,457|
||Charles Hayward Foundation|5,000||-|(5,000)|-|-|
||Depaul UK||-|125,051|(125,051)|-|-|
||Drapers Charitable Truts||-|25,000|(6,250)|-|18,750|
||Fine and Country Foundation||-|1,500|(1,500)|-|-|
||Garfield Weston Foundation|40,000||-|(40,000)|-|-|
||Gisela Graham Foundation||-|2,000|(2,000)|-|-|
||Hyde Group||-|1,800|(1,800)|-|-|
||Irish Youth Foundation||-|14,000|(12,000)|-|2,000|
||John Lyon's Charity||-|28,000|(28,000)|-|-|
||LandAid|7,970||4,750|(10,141)|-|2,579|
||LandAid - Deposit Fund||-|21,000|(1,350)|-|19,650|
||LHA London||-|15,000|(15,000)|-|-|
||Matrix Causes Fund||-|3,000|(3,000)|-|-|
||Mercer's Company||-|22,332|(22,332)|-|-|
||Merck Sharp and Dohme Corporation||-|30,089|(30,089)|-|-|
||Oak Foundation||-|93,603|(93,603)|-|-|
||Sage Foundation||-|12,885|(12,885)|-|-|
||Somers Town Community Association||-|22,181|(22,181)|-|-|
||Tesco Community Grant||-|1,000|(1,000)|-|-|
||The Goldsmith's Company Charity||-|19,500|(19,500)|-|-|
||The Henry Smith Charity Trust||-|35,000|(35,000)|-|-|
||The National Lottery Community Fun||-|2,270|(2,270)|-|-|
||The Progress Foundation||-|8,305|(8,305)|-|-|
||Tides Foundation||-|17,770|(17,770)|-|-|
||Two Magpies Fund||-|1,250|(1,250)|-|-|
||Wellcome Community Support||-|10,000|(1,500)|-|8,500|
||Statutory Grants|||||||
||City Bridge Trust||-|50,000|(50,000)|-|-|
||Embassy of Ireland||-|7,590|(7,590)|-|-|
||London Borough of Camden:||||||-|
||Community Partnership - Advice grant||-|20,000|(20,000)|-|-|
||Children, Schools and Families - youth grant||-|25,000|(25,000)|-|-|
||Community Infrastructure Levy||-|50,000|(14,583)|-|35,417|
40
_NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
For the year ended 31 March 2022
|s to the financial statements
he year ended 31 March 2022|s to the financial statements
he year ended 31 March 2022|||||
|---|---|---|---|---|---|
|2,703
-
-
(98)
-
3,807
59,382
Capital grants
780,335
12,251
Statutory Grants - Capital
14,567
Total restricted funds
866,535
50,000
15,320
8,556
Emergency Fund
-
Strategy Implementation Fund
-
Total designated funds
73,876
General funds
1,233,547
1,307,423
2,173,958
Community Impact Fund - youth offending grant
CCG NHS Trust - nurse's grant
Violence Reduction Unit - youth offending grant
London Councils
London Councils - London Youth
Greater London Authority - Young Lo
Infrastructure Fund
Unrestricted funds:
Designated funds:
Building Appeal - 2007
LHA London Capital Fund (Covid
Camden S106 Capital grant
Total funds
Total unrestricted funds
Technology Fund
Carys Fund||25,000
44,000
56,250
509,631
510,085
217,459|(27,791)
(44,000)
(56,250)
(509,533)
(510,085)
(221,266)|-
-
-
-
-
-|(88)
-
-
-
-
-|
||59,382
780,335
12,251
14,567
866,535
50,000
15,320
8,556
-
-
73,876
1,233,547
1,307,423|2,049,301
-
-
-
2,049,301
-
-
120
-
-
120
904,668
904,788|(2,020,418)
(77,621)
(3,829)
(3,883)
(2,105,751)
-
(2,343)
(8,676)
-
-
(11,019)
(665,882)
(676,901)|-
-
-
-
-
-
-
-
50,000
267,172
317,172
(317,172)
-|88,265
702,714
8,422
10,684
810,085
50,000
12,977
-
50,000
267,172
380,149
1,155,161
1,535,310|
||2,173,958|2,954,089|(2,782,652)|-|2,345,395|
The narrative to explain the purpose of each fund is given at the foot of the note below.
19b Movements in funds (prior year restated)
||At 1 April|Income &|Expenditure||At 31 March|
|---|---|---|---|---|---|
||2020|gains|& losses|Transfers|2021|
||£|£|£|£|£|
|Restricted funds:||||||
|Operating Services||||||
|Bank of America|-|37,948|(37,948)|-|-|
|BBC Children in Need|-|17,793|(17,793)|-|-|
|Charles Hayward Foundation|5,000|20,000|(20,000)|-|5,000|
|Co-op Foundation|-|35,000|(35,000)|-|-|
|Drapers Charitable Truts|-|13,333|(13,333)|-|-|
|Galinksi Charitable Trust|-|1,000|(1,000)|-|-|
|Garfield Weston Foundation|-|40,000|-|-|40,000|
|Global's Make Some Noise||18,000|(18,000)|-|-|
|Greater London Authority||1,000|(1,000)|-|-|
|Groundwork UK|-|30,000|(30,000)|-|-|
||||||41|
## _NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
For the year ended 31 March 2022
|s to the financial statements
he year ended 31 March 2022|s to the financial statements
he year ended 31 March 2022|||||
|---|---|---|---|---|---|
|Irish Youth Foundation
-
John Lyons Charity
-
LandAid
-
LHA London
-
Meeting Needs
-
Merck Sharp and Dohme Corporation
-
National Foundation Youth Music
Oak Foundation
-
Regents' Place
-
Somers Town Community Association
-
St James's Place Foundation
-
Streets of London
The Goldsmith's Company Charity
-
The Henry Smith Charity Trust
-
The National Lottery Community Fun
-
Wates Family Enterprise
Statutory Grants:
City Bridge Trust
-
Embassy of Ireland
-
Greater London Authority - Young Lo
683
London Borough of Camden:
-
-
2,562
-
Community Partnership - Advice grant Children,
Schools and Families - youth grant
Community Impact Fund - youth offending grant
CCG NHS Trust - nurse's grant
Violence Reduction Unit - youth offending grant
-
London Councils
-
-
8,245
Capital Grants
8,820
857,956
-
4,615
Statutory Grants - Capital
18,450
Total restricted funds
898,086
33,628
-
-
Total designated funds
33,628
General funds
869,231
London Councils - London Youth
Carys Fund
Building Appeal - 2007
Camden S106 Capital grant
Building Appeal - 1994
Unrestricted funds:
Designated funds:
Infrastructure Fund
Technology Fund
Other fixed assets
LHA London Capital Fund (Covid||14,000
28,000
18,700
15,000
1,250
10,000
10,831
57,973
3,000
1,336
50,000
10,000
19,500
35,000
9,984
6,000
50,000
30,360
185,084
20,000
25,000
100,000
44,000
10,000
498,253
510,085|(14,000)
(28,000)
(10,730)
(15,000)
(1,250)
(10,000)
(10,831)
(57,973)
(3,000)
(1,336)
(50,000)
(10,000)
(19,500)
(35,000)
(9,984)
(6,000)
(50,000)
(30,360)
(181,960)
(20,000)
(25,000)
(99,859)
(44,000)
(10,000)
(498,351)
(510,085)|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|-
-
7,970
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,807
-
-
-
2,703
-
-
(98)
-|
||8,245
8,820
857,956
-
4,615
18,450
898,086
33,628
-
-
33,628
869,231|1,977,430
-
-
15,315
-
-
1,992,745
-
20,000
8,556
28,556
922,200|(1,926,293)
(8,820)
(77,621)
(3,064)
(4,615)
(3,883)
(2,024,296)
-
(4,680)
-
(4,680)
(541,512)|-
-
-
-
-
-
-
16,372
-
-
16,372
(16,372)|59,382
-
780,335
12,251
-
14,567
866,535
50,000
15,320
8,556
73,876
1,233,547|
42
_NEW HORIZON YOUTH CENTRE LIMITED_
## Notes to the financial statements
For the year ended 31 March 2022
|Total unrestricted funds|902,859|950,756|(546,192)|-|1,307,423|
|---|---|---|---|---|---|
|Total funds|1,800,945|2,943,501|(2,570,488)|-|2,173,958|
## Purposes of restricted funds
Operating services - These funds represent revenue grants and donations to fund the centre's operating services.
## Capital grants:
The Building Appeal - 2007 was established in 2007 to enable the charity to embark on a major capital improvement programme to the premises occupied costing £1,780,823. Cash reserves are retained to meet future costs of maintaining the building as set out in note 19 above. The capital fund balance has been reduced by charges for amortisation of the leasehold premises.
Camden S106 Capital Grant - This grant was awarded for the purchase of capital equipment. The capital fund balance has been reduced by depreciation.
LHA London Capital Fund (Covid grant) - This grant was awarded to enable the charity to help young people affected by the Covid-19 pandemic.
## Purposes of designated funds
Infrastructure fund - This reserve has been designated by the trustees to be used for the capital investment in our physical and technological assets ensuring we can work effectively in both in the building and remotely. The funding will be spent down over the next three years in line with the timeframe of our current strategy
Emergency Fund: This reserve has been designated by the trustees to be used for the agile funding of new solutions to emerging issues affecting young people in these turbulent times. The funding will be spent down over the next three years in line with the timeframe of our current strategy.
Strategy Implementation Fund: This reserve has been designated by the trustees to be used for the investment in our new strategy, ensuring we have the resources and momentum to deliver against our ambitious plans. The funding will be spent down over the next three years in line with the timeframe of our current strategy.
Carys Fund - a reserve for investment in young people's emergency accommodation. The fund was created in the memory of our former staff member, Carys Lewis, who sadly died in 2020.
Technology Fund: This is a designated reserve to better support young people's access to technology amd ensure that young people experiencing homelessness are not digitally excluded. Transfers
In the current year there were two transfer from general funds to deignated funds to create the Emergency Fund and the Strategy Development Fund
## 20 Operating lease commitments payable as a lessee
The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods
43
_NEW HORIZON YOUTH CENTRE LIMITED_
|_NEW HORIZON YOUTH CENTRE LIMITED_|||
|---|---|---|
|Notes to the financial statements|||
|For the year ended 31 March 2022|Property||
||2022|2021|
||£|£|
|Less than one year|36,600|60,222|
|One to five years|146,400|146,400|
|Over five years|91,500|128,100|
||274,500|334,722|
- 21 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
44
_NEW HORIZON YOUTH CENTRE LIMITED_ Notes to the financial statements For the year ended 31 March 2022
## 22 Impact of prior year adjustment for deferred income
New Horizon Youth Centre reviewed its policy for deferral of income in 2021/22. Under the new policy, income is only deferred where the donor has clearly communicated that funds should be spent in a future period, or where at least 50% of project costs relate to staff costs. This has resulted in a prior year adjustment.
|Reserves position|Unrestricted|Restricted|Total|
|---|---|---|---|
||£|£|£|
|Total funds at 1 April 2020 as previously stated|879,526|893,086|1,772,612|
|Adjustments to deferred income|23,333|5,000|28,333|
|Total funds as at 1 April 2020 as restated|902,859|898,086|1,800,945|
|Total funds at 31 March 2021 as previously stated|1,202,103|821,535|2,023,638|
|Adjustments to deferred income 2020/21|105,320|45,000|150,320|
|Total Funds as at 31 March 2021 as restated|1,307,423|866,535|2,173,958|
|Impact on income and expenditure 2020/21|Unrestricted|Restricted|Total|
||£|£|£|
|Net income as previously reported|322,577|(71,551)|251,026|
|Adjustment to deferred income pre 2020/21|(23,333)|(5,000)|(28,333)|
|Adjustments to deferred income 2020/21|105,320|45,000|150,320|
|Net income as restated|404,564|(31,551)|373,013|
45
_NEW HORIZON YOUTH CENTRE LIMITED_
Notes to the financial statements For the year ended 31 March 2022
## 23 Impact of prior year adjustment for London Councils income
In previous years New Horizon Youth Centre has treated funds for partners under the London Councils consortium agreement as pass-through funds. This treatment was reviewed and changed in the current year as the charity has the rights and responsbilities related to this funding and hence is entitled to recognise this funding as its own income and expenditure. A prior year adjustment has been included to show the funds in the prior year on a consistent basis.
|
basis.||||
|---|---|---|---|
|Impact on income and expenditure 2020/21|Unrestricted|Restricted|Total|
||£|£|£|
|Income as previously reported|813,716|1,442,660|2,256,376|
|Adjustments relating to deferred income|81,987|40,000|121,987|
|Adjusment to gross up income under London||||
|Councils agreement|-|510,085|510,085|
|Income as restated|895,703|1,992,745|2,888,448|
|Expenditure as previously reported|546,192|1,514,211|2,060,403|
|Adjustment to gross up expenditure under London||||
|Councils agreement|-|510,085|510,085|
|Expenditure as restated|546,192|2,024,296|2,570,488|
46
_NEW HORIZON YOUTH CENTRE LIMITED_ Supporter page For the year ended 31 March 2022
## _THANK YOU TO ALL OF OUR SUPPORTERS_
Without the following generous donors none of our work would have been possible.
29th May 1961 Charitable Trust Jongen Charitable Trust Action for Children Lambert Charitable Trust Albert Hunt Charitable Trust Landaid Arnold Clark Community Fund LHA Ltd Auto Trader London Councils Bleu Blanc Rouge Foundation MariaMarina Foundation Brian Woolf Trust Mary Kinross Charitable Trust Build2Design Ltd Matrix Causes Fund Calleva Foundation MSD in the UK Camden Council National Lottery Community Fund Caravan Restaurants Nationwide Foundation Charles Hayward Foundation Oak Foundation Charles S French Charitable Trust Palatine Private Equity CHK Foundation Paul Hamlyn Foundation City Bridge Trust Phoenix Court Works Costain Skanska Redington Depaul UK Regents Place Community Fund Embassy of Ireland Rock 'n' Roll Rescue Esmée Fairbairn Foundation RSM UK Fine and Country Foundation Sage UK Foundation Foyle Foundation Sam and Bella Sebba Trust Galinski Charitable Trust Somers Town Community Association Garfield Weston Foundation Streetkidz Gisela Graham Foundation Tesco Google UK The Drapers' Charitable Trust GPP The Fishmongers' Charity Greater London Authority The Goldsmith's Charity Havas The Leathersellers' Company Henry Smith Charity The Mercers' Company Hogan Lovells The Progress Foundation Irish Youth Foundation The Wellcome Trust John Armitage Charitable Trust Two Magpies Fund John Lyons' Charity Urban Partners
As well as the countless individuals, charities and companies that have given their time, their money, in kind support and their commitment to supporting our vital work.
47