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2021-03-31-accounts

Charity Registration No. 281797

Company Registration No. 01547097 (England and Wales)

YOUNG GLOUCESTERSHIRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

YOUNG GLOUCESTERSHIRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr R. Bevan Mr M. Sheridan Mr M. Moule Ms C. Stallard Mr S. McKeag Mr P. Holroyd Ms C. O'Donoghue Mr S. Titterton Mr A. Mulla Mr G. Leon

(Appointed 1 June 2020) (Appointed 30 March 2021) (Appointed 2 February 2021)

Key Management Personnel
Chief Executive Officer Ms T. Clark
Finance Manager Ms L. Howes
Operations Managers Ms J. Rudge-Welford
Mr T. Saunders
Ms A. Wynn
Charity number 281797
Company number 01547097
Registered office The Old Dock Office
Commercial Road
Gloucester
Gloucestershire
GL1 2EB
Auditor Pitt Godden & Taylor LLP
Unit 3 Ambrose House
Meteor Court
Barnett Way
Barnwood
Gloucester
GL4 3GG
Bankers HSBC Bank plc
The Cross
Gloucester
GL1 2AP
Solicitors Willans LLP
28 Imperial Square
Cheltenham
Glos
GL50 1 RH

YOUNG GLOUCESTERSHIRE LIMITED

CONTENTS

Page
Trustees' report 1 - 8
Statement of trustees' responsibilities 9
Independent auditor's report 10 - 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 38

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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) (effective 1 January 2019)".

Objectives and activities

Young Gloucestershire ("YG") is a countywide youth work charity in Gloucestershire.

The objectives, for which the charity was established, as described in its governing document, are: ‘helping young people to develop their physical, mental and spiritual capabilities or to provide such other help and support to young people as the Trustees see fit, including the relief of poverty, the advancement of education, the advancement of health, the advancement of citizenship and community development, the advancement of the arts, culture, heritage or science, the advancement of amateur sport, the advancement of human rights, the advancement of equality and diversity, the relief of those in need by reason of youth, age, ill-health, disability or other disadvantage, and such other purposes recognised from time to time by law as charitable.’

This can be summed up in the phrase ‘inspiring young people’.

YG's Vision is:

For young people to have the confidence, motivation and skills to improve their lives

Our Mission:

We work to achieve this vision by creating opportunities that educate, inform, and inspire by;

Our Values:

Young Gloucestershire is the local association for both UK Youth and the countywide delivery partner for Prince’s Trust Teams. YG work in partnership with our sister charity Infobuzz. Infobuzz offers therapeutic and practical support for families and young people with complex needs.

How Young Gloucestershire's activities deliver public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The charity’s objectives are to create opportunities that educate, help and inspire young people. The projects undertaken are targeted to help any young person in need with no discrimination as to race, background, education or ability. No charge is made to the young people being assisted, a fee may be charged to another organisation.

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Young Gloucestershire's areas of work in 2020/21 were impacted by the Covid pandemic and therefore we saw some of our core work services reduced and new provision developed, below are all the services we have delivered in 2020/21:

Items of particular note were:

Community based services

Support services

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Mental health services

Education/NEET young people

Achievements and performance

During the year the charity worked with an estimated 899 young people through intensive support and work, delivering 10,433 sessions totalling 15,190 hours of support. In addition we have delivered 656 street based youth work sessions with a head count of 17,954 engagements with young people.

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Fundraising

This year as for most was an unprecedented year, with curtailment of many commissioned services resulting in reduced income and associated costs. However the commitment to the charitable sector as a result of the pandemic saw Young Gloucestershire achieve a record fundraising year with some significant funding contributing to core costs (something we often don’t receive) the successful fundraising allowed Young Gloucestershire to launch a significant number of programmes in response to the Covid pandemic.

Young Gloucestershire purchased a property in October 2020. This was achieved with the assistance of donations by funders. This included St James’s Place, Summerfield Trust, Garfield Weston and CHK.

Young Gloucestershire employs one full time fundraiser whose main focus is applying for grants from charitable foundations, corporations and events. We also have an online giving page and a text donate number. We do not contact individuals directly asking for donations, and so no-one is put under any pressure to make a donation. We do not use any third party's to fundraise on our behalf, and none of the fundraising that is undertaken is bound by any voluntary regulated scheme. If a fundraising event is organised on behalf of YG, information is provided on our website on how to do this, but this activity is not monitored.

We have not received any complaints regarding fundraising.

Financial review

Young Gloucestershire’s financial performance remained strong despite the global pandemic.

Total income was £2,029,600 including donations towards the purchase of the property of £427,250, excluding these gives an income for the year of £1,602,350, this is a decrease of 10% compared to the prior year. The income generated through payment by results was adversely affected, however successful applications for grants specifically aimed to assist organisations through this challenging period increased.

Expenditure for the year was £1,503,185; a reduction in cost of 13.5% compared to 2019/2020.

In October 2020, Young Gloucestershire purchased a new building at the Docks in Gloucester. Donations towards refurbishment and replacement costs totalled £28,000 with associated expenditure of £136,578.

We aim for full cost recovery wherever possible but certain projects will never be self-supporting, so we look to diversify income streams to cover shortfalls in those activities which form an essential part of the charity’s aims and objectives. A total of £184,149 has been transferred from the unrestricted fund to the restricted fund in this financial year.

The total net income for the year was £529,682 (2020: £41,038). This leaves the charity with general unrestricted funds of £321,979, designated funds of £655,436 and restricted funds of £439,012.

Reserves policy

The trustees have a policy to hold in liquid free reserves, (as net cash and readily available investments) an approximate sum required for continuing the operation of the charity for three to six months. The trustees are of the opinion that an appropriate level of liquid free reserves would be in the range of £380,000 - £750,000. This would give time, in the event of a curtailment in income, for further funding to be secured.

At the year end, the charity was holding as net current assets a sum of £444,969 of which £5,675 were restricted and so unavailable for general use. This leaves the charity with liquid free reserves of £439,294. The charity is therefore meeting its objectives.

The long term creditor represents the mortgage and is secured on the property. For this reason, both are excluded from liquid free reserves.

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Principal funding sources

The financial statements detail the sources of funds available to the charity. Incoming resources which warrant separate mention are as follows:

Investment policy

The charity has reserves and in addition it receives funding in advance of the delivery of programmes. The policy for use of funds that are not required immediately is to maximise interest by using bank and building society deposits on a three to six month term. The charity uses several different institutions to spread the risk following the recent problems with the banks. There is a small investment in an equity based fund which made a gain of £3,267 in the year.

Risk assessment

The trustees and staff assess on an on-going basis the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and to the health and safety of its employees and the public.

In doing so the board of trustees has created a risk register that brings all the risks from across the organisation together and highlights the key risks for the organisation. The current top risks for the organisation are:

The following strategies have been put in place:

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Plans for future periods

Our ongoing provision will also include:

Structure, governance and management

The charity's registered office and registration numbers are recorded under legal and administration information. The charity is a charitable company with no share capital and is limited by guarantee . The governing documents of the charity are the Memorandum and Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr R. Bevan

Mr M. Sheridan Mr M. Moule Ms C. Stallard Mr S. McKeag Mr P. Holroyd Ms C. O'Donoghue Ms I. Sime Mr S. Titterton Mr A. Mulla Mr G. Leon

(Resigned 28 April 2020) (Appointed 1 June 2020) (Appointed 30 March 2021) (Appointed 2 February 2021)

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

All trustees give their time voluntarily and receive no benefits from the charity. There were no expenses claimed by trustees during the year.

The Board of Trustees has a wide range of specialist skills and experiences which include:

New trustees are selected by recommendations for their experience to fill skills gaps. New trustees are introduced to the managers and staff by the Chief Executive and spend time getting to know the activities of each department during their induction as well as visiting programmes and projects. None of the trustees has any beneficial interest in the company.

The Board of Trustees oversees Young Gloucestershire’s programmes and services in order to ensure Young Gloucestershire meets its objectives, strategic plan and legal requirements.

The Board of Trustees is responsible for setting the strategic direction of the organisation and delegates the implementation of this policy to the Chief Executive and managers. This delegation is kept under review through regular board meetings. The trustees receive reports, department’s performance against planned targets and financial reporting ahead of the formal Board Meetings.

The organisation has a range of policies and procedures appropriate to the range of work, responsibilities and

legal regulations including:

Organisational structure

The charity employs a CEO who manages the organisation, she is supported by a senior management team who have specific area focuses.

How decisions are made

The board of trustees delegate the day to day responsibility of operations to the CEO and senior management team. The trustees undertake a strategic review periodically and this was completed during the financial year. This sets the direction and parameters of the work. Trustees meet bi monthly to review progress against priorities set and ensure the organisation is compliant. In addition finance committee meetings are held monthly.

The senior management team meet monthly to review progress and set the direction and focus to achieve the strategy.

Remuneration policy

Young Gloucestershire has a staff salary structure and roles are analysed against this. The trustees each year make the decision for the whole organisation in relation to a cost of living pay rise based on the current market situation. The salary of the CEO and senior management team is set by the board of trustees.

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Partnerships in the wider community

Young Gloucestershire is active in numerous local county, regional and national partnerships including:

Auditor

The auditor, Pitt Godden & Taylor LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' r eport was approved by the Board of Trustees.

Mr M. Sheridan

Dated: 5 October 2021

YOUNG GLOUCESTERSHIRE LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The trustees, who are also the directors of Young Gloucestershire Limited for the purpose of company law, are responsible for preparing the Trustees' 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

YOUNG GLOUCESTERSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF YOUNG GLOUCESTERSHIRE LIMITED

Opinion

We have audited the financial statements of Young Gloucestershire Limited (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the 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:

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 charity 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 the charity’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 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, 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 our audit:

YOUNG GLOUCESTERSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG GLOUCESTERSHIRE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the trustees' r eport.

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:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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, is detailed below .

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, and non-compliance with laws and regulations, was as follows:

We identified the laws and regulations relevant to the charity from discussions with the board and the finance team. The laws that we consider may have a direct material effect on the financial statements or the operation of the charity include the Charities Act 2011, the Companies Act 2006, employment. health and safety, and data protection.

We ensured that the audit engagement team collectively has the appropriate competence, capabilities and skills to identify non-compliance with the applicable laws and regulations noted above.

We assessed the extent of compliance with these laws and regulations through enquiries with the trustees and members of the finance committee and inspecting legal costs, and assessing any correspondence with the charity commission over the year.

YOUNG GLOUCESTERSHIRE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF YOUNG GLOUCESTERSHIRE LIMITED

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud may occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of any actual, suspected and alleged fraud;

assessing and testing the internal controls in place to mitigate fraud risks and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify unusual or unexpected transactions;

assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

reviewed a sample tested journal entries to confirm that they were genuine transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to the underlying supporting documentation; reviewing the minutes of meetings of the board as to actual and potential litigation and claims; checking for correspondence from the Charity Commission.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://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 auditors' report and for no other purpose. 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.

Nicholas J Bishop FCCA ACA (Senior Statutory Auditor) for and on behalf of Pitt Godden & Taylor LLP

5 October 2021

Chartered Accountants Statutory Auditor Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG

YOUNG GLOUCESTERSHIRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Donations and legacies
3
169,731
939,049
Charitable activities
4
890,620
-
Activities for generating funds
5
27,356
-
Investments
6
2,844
-
Other income
7
-
-
Total income
1,090,551
939,049
Expenditure on:
Raising funds
8
61,014
74,017
Charitable activities
9
746,415
621,739
Total resources expended
807,429
695,756
Net gains/(losses) on investments
14
3,267
-
Net incoming resources before transfers
286,389
243,293
Gross transfers between funds
(184,149)
184,149
Net income/(expenditure) and net movement in funds
102,240
427,442
Fund balances at 1 April 2020
875,175
11,570
Fund balances at 31 March 2021
977,415
439,012		 Total
2021
£
1,108,780
890,620
27,356
2,844
-
2,029,600
135,031
1,368,154
1,503,185
3,267
529,682
-
529,682
886,745
1,416,427		 Total
2020
£
240,886
1,509,684
30,348
4,774
(905)
1,784,787
128,168
1,611,528
1,739,696
(4,053)
41,038
-
41,038
845,707
886,745

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

YOUNG GLOUCESTERSHIRE LIMITED

BALANCE SHEET

AS AT 31 MARCH 2021

2021
Notes
£
£
Fixed assets
Tangible assets
15
1,127,678
Investments
16
17,374
1,145,052
Current assets
Debtors
18
410,390
Cash at bank and in hand
991,043
1,401,433
Creditors: amounts falling due within
one year
20
(956,464)
Net current assets
444,969
Total assets less current liabilities
1,590,021
Creditors: amounts falling due after
more than one year
21
(173,594)
Net assets
1,416,427
Income funds
Restricted funds
24
439,012
Unrestricted funds
Designated property funds
25
655,436
General unrestricted funds
321,979
977,415
1,416,427
The financial statements were approved by the Trustees on 5 October 2021
Mr M. Sheridan
Mr M. Moule
Trustee
Trustee		 2020
£
£
28,333
14,107
42,440
154,895
1,092,708
1,247,603
(403,298)
844,305
886,745
-
886,745
11,570
165,682
709,493
875,175
886,745

Company Registration No. 01547097

YOUNG GLOUCESTERSHIRE LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

2021
Notes
£
£
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
30
819,357
Investing activities
Purchase of tangible fixed assets
(1,115,233)
Proceeds on disposal of tangible fixed
assets
-
Proceeds on disposal of investment
property
-
Interest and rental income received
2,844
Net cash (used in)/generated from
investing activities
(1,112,389)
Financing activities
Repayment of bank loans
191,367
Net cash generated from/(used in)
financing activities
191,367
Net (decrease)/increase in cash and cash
equivalents
(101,665)
Cash and cash equivalents at beginning of year
1,092,708
Cash and cash equivalents at end of year
991,043		 2020
£
£
(93,643)
(30,494)
1,435
426,500
4,774
402,215
-
-
308,572
784,136
1,092,708

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Young Gloucestershire Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Old Dock Office, Commercial Road, Gloucester, Gloucestershire, GL1 2EB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are funds set aside by the directors out of unrestricted general funds for specific future purposes or projects.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Secondments are quantified in the Statement of Financial Activities by reference to the salary scales of the entity providing the secondees. Gifts of assets are included in the Statement of Financial Activities at the fair value of the donated asset at the time of donation.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

When donors specify that amounts given to the charity must be used in future accounting periods, the income if deferred until those periods.

When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use have been met.

When donors specify that donations and grants are for particular restricted purposes, which do not amount to preconditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

Grants from the Government and other agencies have been included as income from activities in furtherance of the charity's objects on an accruals basis where these amount to a contract for services.

1.5 Expenditure

Resources expended are included in the Statement of Financial Activities on an accruals basis. Inclusive of any VAT, that cannot be recovered.

Governance costs include those incurred in the governance of the charity and in connection with the administration of the charity and compliance with constitutional and statutory requirements.

Support costs are those costs incurred directly in support of expenditure and have been allocated to activity cost categories on the basis of staff time or usage per capita.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 50 years straight line
Fixtures and fittings 5 years and 8 years straight line
Computers 4 years straight line
Motor vehicles 4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost .

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost .

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
53,935
-
Charitable grants
115,796
939,049
169,731
939,049
For the year ended 31 March 2020
50,393
190,493
Grants receivable for core activities
Spirax Sarco
-
8,500
St James's Place Foundation
-
249,952
Summerfield
-
100,000
Four Acre Trust
-
25,000
Global's Make Some Noise
-
43,548
Rotary Club
-
6,000
Garfield Weston
-
75,000
Go The Extra Mile
-
20,775
Mental Health Lottery
-
57,807
CHK Foundation
-
71,387
The National Lottery Community Fund
-
10,000
Grant Leon
-
11,250
Mark Sheridan
-
10,000
Sumner Wilson
-
10,000
Cotswold District Council
-
9,559
Barnwood Trust
-
5,750
Police Crime Commission
-
26,237
Barclays
-
56,729
Youth Endowment Fund
-
22,471
Gloucester City Council
-
10,000
The Kennel Club
-
14,900
Julia and Hans Rausing
115,796
-
Doris Pacey & Dr Michael & Anna Brynberg
Charitable Foundations
-
-
National Lottery - Awards for All
-
-
Swire Trust
-
-
David Thomas CT
-
-
Joanies Fund
-
-
Dulverton Trust
-
-
Other Charitable foundations
-
94,184
115,796
939,049		 Total
2021
£
53,935
1,054,845
1,108,780
8,500
249,952
100,000
25,000
43,548
6,000
75,000
20,775
57,807
71,387
10,000
11,250
10,000
10,000
9,559
5,750
26,237
56,729
22,471
10,000
14,900
115,796
-
-
-
-
-
-
94,184
1,054,845		 Total
2020
£
50,393
190,493
240,886
240,886
6,000
21,528
-
-
45,588
5,000
-
17,813
-
-
-
-
-
-
-
-
-
-
-
-
-
24,164
1,042
24,787
5,000
1,350
3,000
35,221
190,493

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Charitable activities

Community Development Other income Total
Total
Team 2021
2020
£
£		 £ £
£
Sales within charitable activities 593,165
281,561		 13,844 890,620
1,509,684
5 Activities for generating funds
2021 2020
£ £
Service charges to Infobuzz Limited 27,356 30,348
6 Investments
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Rental income - 2,083
Interest receivable 2,844 2,691
2,844 4,774
7 Other income
TotalUnrestricted Restricted Total
funds funds
2021 2020 2020 2020
£ £ £ £
Net gain on disposal of tangible fixed assets - (644) (261)
(905)

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8 Raising funds

Unrestricted Restricted
funds
funds
£
£
Fundraising and publicity
Staff costs
31,412
38,861
Support costs
29,065
34,453
Fundraising and publicity
60,477
73,314
Governance costs
Support costs
537
703
61,014
74,017
For the year ended 31 March 2020
Fundraising and publicity
102,397
24,057
Allocated Governance costs
1,330
384
Total Fundraising and publicity
103,727
24,441		 Total
2021
£
70,273
63,518
133,791
1,240
135,031		 Total
2020
£
74,435
52,019
126,454
1,714
128,168
126,454
1,714
128,168

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

9 Charitable activities

Community Development
Team
£
£
Staff costs
413,424
142,108
Direct : Other staff costs
23,123
5,003
Direct expenses
178,201
43,449
Premises costs
45,692
4,902
660,440
195,462
Share of support costs (see note 11)
273,770
94,407
Share of governance costs (see note
11)
5,203
1,820
939,413
291,689
Analysis by fund
Unrestricted funds
497,428
146,185
Restricted funds
441,985
145,504
939,413
291,689
For the year ended 31 March 2020
Unrestricted funds
134,203
1,255,198
Restricted funds
196,774
25,353
330,977
1,280,551		 Dock
Offices
Refurb
Costs
£
-
-
-
-
-
137,052
-
137,052
102,802
34,250
137,052
-
-
-		 Total
2021
£
555,532
28,126
221,650
50,594
855,902
505,229
7,023
1,368,154
746,415
621,739
1,368,154		 Total
2020
£
586,875
13,850
679,312
25,484
1,305,521
296,296
9,711
1,611,528
1,389,401
222,127
1,611,528

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10 Description of charitable activities

Community

Working across the community providing mental health and well-being support

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10 Description of charitable activities

(Continued)

Development Team

Provides a range of education development opportunities for young people:

Dock Offices Refurb Costs

The costs related to the repair and refurbishment of the new building to make it suitable for Young Gloucestershire are considered to be mainly exceptional items, and are therefore disclosed separately.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

11 Support costs

Support
costs
Governance
costs
£
£
Staff costs
204,353
-
Depreciation
15,888
-
Other staff costs
14,689
-
Office costs
128,575
-
Premises costs
59,021
-
Marketing costs
2,118
-
Finance costs
7,525
-
Refurbishment costs
136,578
-
Audit fees
-
5,161
Other governance costs
-
3,102
568,747
8,263
Analysed between
Fundraising
63,518
1,240
Charitable activities
505,229
7,023
568,747
8,263		 2021
£
204,353
15,888
14,689
128,575
59,021
2,118
7,525
136,578
5,161
3,102
577,010
64,758
512,252
577,010		 2020 Basis of allocation
£
216,459 Actual staff costs
9,884 Use of assets
6,312 Proportion of staff costs
78,661 Proportion of staff costs
32,668 Proportion of staff costs
1,523 Proportion of staff costs
2,808 Proportion of staff costs
- Actual spend
5,160 Governance
6,265 Governance
359,740
53,733
306,007
359,740

Included in finance costs is interest payable on the bank loan of £2,818.

Governance costs includes payments to the auditors of £5,160 (2020 : £ 5,160 ) for audit fees . A further £4,311 (2020: £5,970) was paid to the auditors in respect of other non-audit services.

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

The charity paid £586 (2020: £646) for trustee liability insurance.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Employees

Number of employees

The average monthly number of employees during the year was:

Charitable activities
Generating funds
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
40
2
42
2021
£
752,353
57,603
20,202
830,158		 2020
Number
44
2
46
2020
£
806,303
54,828
16,638
877,769

The number of employees whose total employee benefits for the reporting period fell within each band of £10,000 from £60,000 onwards are shown below:

2021 2020
Number Number
Remuneration band between £60,000- £70,000 1 -
14 Net gains/(losses) on investments
Unrestricted Unrestricted
funds funds
2021 2020
£ £
Revaluation of investments 3,267 (4,053)

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

15
Tangible fixed assets
Freehold land
and buildings
Fixtures
and fittings
£
£
Cost
At 1 April 2020
-
2,760
Additions
1,088,127
5,904
At 31 March 2021
1,088,127
8,664
Depreciation and impairment
At 1 April 2020
-
2,592
Depreciation charged in the year
5,441
369
At 31 March 2021
5,441
2,961
Carrying amount
At 31 March 2021
1,082,686
5,703
At 31 March 2020
-
168		 Computers
£
-
21,202
21,202
-
-
-
21,202
-		 Motor
vehicles
£
49,329
-
49,329
21,164
10,078
31,242
18,087
28,165		 Total
£
52,089
1,115,233
1,167,322
23,756
15,888
39,644
1,127,678
28,333

Freehold land and buildings with a carrying amount of £1,082,686 (2020 - £nil) have been pledged to secure borrowings of the charity. The charity is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

16 Fixed asset investments

Valuation
At 1 April 2020
Valuation changes
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020
17
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Equity instruments measured at fair value through the Statement of
Financial Activities
Carrying amount of financial liabilities
Measured at amortised cost
18
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Listed
investments
£
14,107
3,267
17,374
17,374
14,107
2021
2020
£
£
383,318
134,505
17,374
14,107
1,114,752
391,913
2021
2020
£
£
333,059
81,860
50,259
52,645
27,072
20,390
410,390
154,895

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

19 Loans and overdrafts

Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2021
£
191,367
17,773
173,594
97,181		 2020
£
-
-
-
-

The long-term loans are secured by a debenture comprising fixed and floating charged over all assets and undertakings, including all present and future freehold and leasehold property, book and other debts, chattels, goodwill, uncalled capital, both present and future.

Together with a first legal mortgage over the freehold property known as 1 Dock Office, Commercial Road, Gloucester.

The loan term is 10 years from the date of drawdown. The loan is repayable in monthly instalments with a fixed interest rate of 2.87% for the first 5 years. The interest rate will then revert to 2.72% over the base rate for the remaining term.

20 Creditors: amounts falling due within one year

Notes
Bank loans
19
Other taxation and social security
Trade creditors
Other creditors and deferred income
Accruals
Creditors: amounts falling due after more than one year
Notes
Bank loans
19		 2021
£
17,773
15,306
60,461
776,696
86,228
956,464
2021
£
173,594		 2020
£
-
11,385
51,716
248,382
91,815
403,298
2020
£
-

21 Creditors: amounts falling due after more than one year

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

22 Deferred income

Deferred income is included in the financial statements as follows:

2021
£
Current liabilities
772,384
772,384
£
Balance at 1 April 2020
248,389
Amounts released to incoming resources
(241,510)
Amounts deferred in the year
765,505
Balance at 31 March 2021
772,384		 2020
£
248,389
248,389

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

22 Deferred income

Deferred income
Amounts deferred at 31 March 2021 were:
The Kennel Club Charitable Trust - Therapy dog
CEO Emergency Fund
Greensquare Group
The Honorable Co Of Gloucester
Groudwork UK (Tesco)
Youth Endowment Fund - Full Circle
Gloucestershire County Council - Coronavirus response
Barclays
Office of Police Crime Commission
Gloucestershire County Council - Transition Chat
Gloucestershire County Council - Digital Innovation Fund
Barnado's
The Ernest Cook Trust
Heart of England iwill
Gloucestershire County Council - Nature by Prescription
Spirax Sarco
NHS Gloucestershire CCG
UK Youth - EmpowHER
CHK Foundation
NHS Gloucestershire CCG - Flex
NHS Gloucestershire CCG - Bounce
NHS Gloucestershire CCG - Fusion
Barnwood Trust
The National Benevolent Charity
Tewkesbury Borough Council - Youth Engagement
St James Place - Mental Health
Others		 (Continued)
£
6,000
3,500
500
879
1,000
1,364
20,000
43,272
23,763
157,676
9,000
14,250
16,722
5,000
89,790
2,500
72,842
1,051
20,545
134,697
84,648
38,088
7,500
2,500
5,000
9,511
786
772,384

23 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £20,202 (2020: £16,638). This has been analysed between activities and funds based on the time spent by each employee on each activity.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

24 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at 1 Incoming Resources Transfers Balance at 31
April 2020 resources expended March 2021
£ £ £ £
£
Community - Bus funds 4,285 - (2,317) -
1,968
Community - CHK Family - 29,387 (37,091) 7,704
-
Community - Covid-19 projects - 62,697 (93,038) 30,341
-
Community - Detached youthwork - 55,272 (74,179) 18,907
-
Community - Awards for all 1,041 - - -
1,041
Community - Music Project 289 - - -
289
Community -Mental Health - Lottery
-		 57,807 (78,833) 21,026
-
Community - Go the Extra Mile - 20,775 (25,280) 4,505
-
Community - Mental Health - SJP - 29,952 (39,072) 9,120
-
Community - EmpowHer 80 - - -
80
Community - HLF - 4,232 (1,723) -
2,509
Community - My Life My Plan 628 - - -
628
Community - Link - 105,312 (147,058) 41,746
-
Development - Environment - 1,778 (3,356) 1,578
-
Development - Sporting Chances 1,128 - - -
1,128
Development - Full Circle - 22,471 (36,887) 14,416
-
Development - Bus Funds 4,119 - - -
4,119
Development - Therapy Dog - 14,900 (15,521) 621
-
Corporate- Dock office
refurbishment - 34,250 (34,250) -
-
Corporate - Building purchase -
Dock Office - 427,250 - -
427,250
Development - Barclays - 56,729 (80,930) 24,201
-
Development - Exchange - 16,237 (26,221) 9,984
-
11,570 939,049 (695,756) 184,149
439,012
Source of restricted funds £
The Kennel Club 14,900
Barclays 56,729
Youth Endowment Fund 22,471
St James's Place Foundation 249,952
Police Crime Commission 26,237
Global's Make Some Noise 43,548
Gloucester City Council 10,000
Spirax Sarco 8,500
Rotary Club 6,000
D C R Allen 3,000
Youth Social Action Fund 1,825
Four Acre Trust 25,000
Go The Extra Mile 20,775

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

24 Restricted funds (Continued)
Heritage Lottery Fund 4,232
CHK 71,387
Western Power 3,000
Thirty Percy 5,000
National Lottery 8,423
The National Lottery Community Fund 10,000
The Good Exchange 1,000
Barnwood Trust 5,750
Sovereign Housing 1,366
Others 14,857
Severnside Community Rail Partnership 1,500
World Jungle 3,000
Gloucester County Council 9,000
Thriving Communities 1,848
Cheltenham Borough Council 5,000
Mental Health Lottery 57,807
Grant Leon 11,250
R C Scudamore 2,000
Garfield Weston 75,000
Summerfield 100,000
Beatrice Lang 5,000
DM Thomas 5,000
B&Q 4,000
Screwfix 4,000
The Ernest Cook Trust 1,778
Mark Sheridan 10,000
HR Champions 1,000
Severn Trent Water 2,000
J Stevens 1,155
Ethical Giving 750
European Metal 1,000
Lydney Gateway 2,400
Satellite Club 1,050
Sumner Wilson 10,000
Cotswold District Council 9,559
939,049

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

25 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: The fund below has been designated for the building purchased during the year.

Movement
in funds
Movement in funds
Balance at
1 April 2019
Incoming
resources
Balance at
1 April 2020
Incoming
resources
Resources
expended
31
£
£
£
£
£
Building fund
165,682
-
165,682
655,436
(165,682)
165,682
-
165,682
655,436
(165,682)
Analysis of net assets between funds
Unrestricted
fund
Designated
fund
Restricted
fund
TotalUnrestricted
fund
Designated
fund
Restricted
fund
2021
2021
2021
2021
2020
2020
2020
£
£
£
£
£
£
£
Fund balances at 31 March 2021 are represented
by:
Tangible assets
38,905
655,436
433,337
1,127,678
19,929
-
8,404
Investments
17,374
-
-
17,374
14,107
-
-
Current assets/(liabilities)
439,294
-
5,675
444,969
675,457
165,682
3,166
Long term liabilities
(173,594)
-
-
(173,594)
-
-
-
321,979
655,436
439,012
1,416,427
709,493
165,682
11,570		 Balance at
March 2021
£
655,436
655,436
Total
2020
£
28,333
14,107
844,305
-
886,745

26 Analysis of net assets between funds

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

27 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2021
£
-
74,161
-
74,161		 2020
£
24,879
46,757
8,750
80,386

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

27 Operating lease commitments (Continued)
28 Capital commitments 2021 2020
£ £
At 31 March 2021 the charity had capital commitments as follows:
Contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment - 1,080,000

The new building, to which the above capital commitment in 2020 refers, was purchased during 2020/2021 and was funded by existing unrestricted reserves, specific donations towards the purchase, and a mortgage.

29 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2021 2020
£ £
Aggregate compensation 205,746 220,973

Other related party transactions

Infobuzz Limited is a charity connected to Young Gloucestershire by a common Trustee and the two charities share a CEO. Young Gloucestershire charged Infobuzz £23,657 (2020: £25,376) for management related services, and £3,600 for rent and office space (2020: £5,683), and £3,924 (2020: £5,014) for general recharges. Infobuzz Limited charged Young Gloucestershire £182,297 (2020: £77,030) for the provision of welfare services. At the reporting end date, Infobuzz Limited owed Young Gloucestershire £13,736 (2020: Young Gloucestershire owed Infobuzz Limited £10,811).

30
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of tangible fixed assets
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash generated from/(absorbed by) operations		 2021
£
529,682
(2,844)
-
(3,267)
15,888
(255,495)
535,393
819,357		 2020
£
41,038
(4,774)
905
4,053
9,884
213,626
(358,375)
(93,643)

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

31
Analysis of changes in net funds
At
Cash at bank and in hand
Loans falling due within one year
Loans falling due after more than one year		 1 April 2020
£
1,092,708
-
-
1,092,708		 Cash flows At 31
£
(101,665)
(17,773)
(173,594)
(293,032)		 March 2021
£
991,043
(17,773)
(173,594)
799,676