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2022-03-31-accounts

Charity registration number 281797

Company registration number 01547097 (England and Wales)

YOUNG GLOUCESTERSHIRE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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
Key Management Personnel
Chief Executive Officer Ms T. Clark
Finance Manager Ms L. Howes
Operations Managers Ms J. Rudge-Welford (resigned 27/10/2021)
Mr T. Saunders
Ms A. Wynn
Ms E. Blakelock
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 - 37

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

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's areas of work in 2021/22 focused on rebuilding our face to face services following the Covid pandemic, with a focus on growing and developing our services to respond to the needs of young people in the county. There was a specific focus on our mental health services and support for young people to reengage in education. Below are services we have delivered in 2021/22:

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Items of particular note were:

Our services include:

Community based services

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Support Services

Mental health services

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

Education/NEET young people

During the year the charity worked with an estimated 1,397 young people through intensive support and work, delivering 16,064 sessions totalling 24,250 hours of support. In addition, through the holiday activity fund, we worked with an additional 2,000 children and families delivering holiday camps and food hampers. Making our overall total of young people worked with 3,397 in the year.

Fundraising

Despite concerns over the funding arena, this year was a positive year for Young Gloucestershire with contracts being renewed and extended and a number of successful funding bids secured. We are pleased that at a time of high need the charity has continued to be able to expand in response to the need in the community.

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 received no complaints regarding fundraising.

Financial review

Young Gloucestershire’s financial performance remained strong

Total income was £2,680,496 this is a increase of 32% compared to the prior year. Expenditure for the year was £2,141,320; an increase in cost of 42.4% compared to 2020/2021.

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 £122,814 has been transferred from the unrestricted fund to the restricted fund in this financial year.

The total net income for the year was £540,442 (2020: £529,682). This leaves the charity with general unrestricted funds of £486,915, designated funds of £648,799 and restricted funds of £821,155.

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 £923,363 of which £348,603 were restricted and so unavailable for general use. This leaves the charity with liquid free reserves of £574,760. 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 2022

Principal funding sources

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

The charity has also received funding from a variety of sources including Children in Need (£37,133), Spirax Sarco (£2,500), Police Crime Commission (£32,192), Barclays (£43,271) and Youth Endowment Fund (£37,520) all of whom provide funding to enable the charity to carry out its charitable objectives.

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. There is a small investment in an equity based fund which made a gain of £1,266 (2021: £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 2022

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 Mr S. Titterton Mr A. Mulla Mr G. Leon

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:

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

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 2022

Partnerships in the wider community

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

Auditor

In accordance with the company's articles, a resolution proposing that Pitt Godden & Taylor LLP be reappointed as auditor of the company will be put at a General Meeting.

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' report was approved by the Board of Trustees.

Mr M. Sheridan

Dated: 18 October 2022

YOUNG GLOUCESTERSHIRE LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

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 2022 which comprise the statement of financial activities, the balance sheet, the 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 Financial Reporting Standard 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 directors' report included within the trustees' report.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' 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:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, 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.

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.

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.

YOUNG GLOUCESTERSHIRE LIMITED

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

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

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

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

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

18 October 2022

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 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
Donations and legacies
3
102,790
719,921
Charitable activities
4
1,826,186
-
Activities for generating funds
5
24,948
-
Investments
6
2,581
-
Other income
7
4,070
-
Total income
1,960,575
719,921
Expenditure on:
Raising funds
8
146,582
50,013
Charitable activities
9
1,534,146
410,579
Total resources expended
1,680,728
460,592
Net gains/(losses) on investments
14
1,266
-
Net incoming resources before transfers
281,113
259,329
Gross transfers between funds
(122,814)
122,814
Net income/(expenditure) and net movement in funds
158,299
382,143
Fund balances at 1 April 2021
977,415
439,012
Fund balances at 31 March 2022
1,135,714
821,155		 Total
2022
£
822,711
1,826,186
24,948
2,581
4,070
2,680,496
196,595
1,944,725
2,141,320
1,266
540,442
-
540,442
1,416,427
1,956,869		 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

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 2022

2022
Notes
£
£
Fixed assets
Tangible assets
15
1,169,599
Investments
16
18,640
1,188,239
Current assets
Debtors
18
212,146
Cash at bank and in hand
1,793,303
2,005,449
Creditors: amounts falling due within
one year
20
(1,082,086)
Net current assets
923,363
Total assets less current liabilities
2,111,602
Creditors: amounts falling due after
more than one year
21
(154,733)
Net assets
1,956,869
Income funds
Restricted funds
24
821,155
Unrestricted funds
Designated property funds
25
648,799
General unrestricted funds
486,915
1,135,714
1,956,869		 2021
£
£
1,127,678
17,374
1,145,052
410,390
991,043
1,401,433
(956,464)
444,969
1,590,021
(173,594)
1,416,427
439,012
655,436
321,979
977,415
1,416,427

The financial statements were approved by the Trustees on 18 October 2022

Mr M. Sheridan Mr M. Moule Trustee Trustee

Company Registration No. 01547097

YOUNG GLOUCESTERSHIRE LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
29
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Interest and rental income received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash (used in)/generated from
financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
2021
£
£
£
£
888,907
819,357
(75,653)
(1,115,233)
4,070
-
2,581
2,844
(69,002)
(1,112,389)
(17,645)
191,367
(17,645)
191,367
802,260
(101,665)
991,043
1,092,708
1,793,303
991,043

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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 amounts 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 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 2022

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 the statement of financial activities.

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 2022

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 payments 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 2022

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 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
95,690
341,844
Charitable grants
7,100
378,077
102,790
719,921
For the year ended 31 March 2021
169,731
939,049
Grants receivable for core activities
Spirax Sarco
-
2,500
St James's Place Foundation
-
9,511
Summerfield
-
-
Four Acre Trust
-
-
Global's Make Some Noise
-
-
Rotary Club
-
-
Garfield Weston
-
-
Go The Extra Mile
-
29,862
Mental Health Lottery
-
-
CHK Foundation
-
29,395
The National Lottery Community Fund
-
-
Grant Leon
-
-
Mark Sheridan
-
4,000
Sumner Wilson
-
-
Cotswold District Council
-
6,000
Barnwood Trust
-
7,500
Police Crime Commission
-
32,192
Barclays
-
43,271
Youth Endowment Fund
-
37,520
Gloucester City Council
-
-
The Kennel Club
-
2,956
Julia and Hans Rausing
-
Gloucestershire County Council
-
38,581
National Lottery - Awards for All
-
11,821
Thirty Percy
-
20,000
Ernest Cook
-
11,200
Clothworkers Foundation
-
10,000
Children in Need Youth Investment Fund
-
37,133
Other Charitable foundations
7,100
44,635
7,100
378,077		 Total
2022
£
437,534
385,177
822,711
2,500
9,511
-
-
-
-
-
29,862
-
29,395
-
-
4,000
-
6,000
7,500
32,192
43,271
37,520
-
2,956
-
38,581
11,821
20,000
11,200
10,000
37,133
51,735
385,177		 Total
2021
£
53,935
1,054,845
1,108,780
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
38,581
-
20,000
11,200
10,000
37,133
94,184
1,054,845

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Sales within charitable activities
5
Activities for generating funds
Service charges to Infobuzz Limited
6
Investments
Interest receivable
7
Other income
Net gain on disposal of tangible fixed assets		 Community Development
Team
Other income
Total
2022
Total
2021
£
£
£
£
£
1,260,163
529,358
36,665
1,826,186
890,620
2022
2021
£
£
24,948
27,356
Unrestricted
Unrestricted
funds
funds
2022
2021
£
£
2,581
2,844
Unrestricted
Total
funds
2022
2021
£
£
4,070
-		 Total
2021
£
890,620
2021
£
27,356
Total
2021
£
-

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Raising funds

Unrestricted
Restricted
funds
funds
£
£
Fundraising and publicity
Staff costs
75,446
25,777
Support costs
70,215
24,012
Fundraising and publicity
145,661
49,789
Governance costs
Support costs
921
224
146,582
50,013
For the year ended 31 March 2021
Fundraising and publicity
60,477
73,314
Allocated Governance costs
537
703
Total Fundraising and publicity
61,014
74,017		 Total
2022
£
101,223
94,227
195,450
1,145
196,595		 Total
2021
£
70,273
63,518
133,791
1,240
135,031
133,791
1,240
135,031

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

9 Charitable activities

Community Development
Team
£
£
Staff costs
580,822
213,628
Direct : Other staff costs
209,974
14,461
Direct expenses
266,657
89,716
Premises costs
24,138
-
1,081,591
317,805
Share of support costs (see note 11)
368,739
124,505
Share of governance costs (see note
11)
4,903
1,587
1,455,233
443,897
Analysis by fund
Unrestricted funds
1,255,148
260,903
Restricted funds
200,085
182,994
1,455,233
443,897
For the year ended 31 March 2021
Unrestricted funds
497,428
146,185
Restricted funds
441,985
145,504
939,413
291,689		 Dock
Offices
Refurb
Costs
£
-
-
-
-
-
45,595
-
45,595
18,095
27,500
45,595
102,802
34,250
137,052		 Total
2022
£
794,450
224,435
356,373
24,138
1,399,396
538,839
6,490
1,944,725
1,534,146
410,579
1,944,725		 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

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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 2022

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 2022

11 Support costs


Staff costs
Depreciation
Other staff costs
Office costs
Premises costs
Marketing costs
Finance costs
Refurbishment costs
Audit fees
Other governance costs
Analysed between
Fundraising
Charitable activities		 Support
costs
Governance
costs
£
£
293,250
-
33,732
-
38,015
-
168,147
-
44,094
-
13,381
-
7,521
-
34,926
-
-
5,161
-
2,474
633,066
7,635
94,227
1,145
538,839
6,490
633,066
7,635		 2022
£
293,250
33,732
38,015
168,147
44,094
13,381
7,521
34,926
5,161
2,474
640,701
95,372
545,329
640,701		 2021 Basis of allocation
£
204,353 Actual staff costs
15,888 Use of assets
14,689 Proportion of staff costs
128,575 Proportion of staff costs
59,021 Proportion of staff costs
2,118 Proportion of staff costs
7,525 Proportion of staff costs
136,578 Actual spend
5,161 Governance
3,102 Governance
577,010
64,758
512,252
577,010

Included in finance costs is interest payable on the bank loan of £5,673 (2021: £2,818).

Governance costs includes payments to the auditors of £5,161 (2021: £5,161) for audit fees. A further £6,440 (2021: £4,311) was paid to the auditors in respect of other non-audit services - other financial 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 £635 (2021: £586) for trustee liability insurance.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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		 2022
Number
52
2
54
2022
£
1,078,869
81,944
28,110
1,188,923		 2021
Number
40
2
42
2021
£
752,353
57,603
20,202
830,158

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:

2022 2021
Number Number
Remuneration band between £60,000- £70,000 1 1
14 Net gains/(losses) on investments
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Revaluation of investments 1,266 3,267

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

15
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2021
1,088,127
8,664
Additions
-
31,880
Disposals
-
-
At 31 March 2022
1,088,127
40,544
Depreciation and impairment
At 1 April 2021
5,441
2,961
Depreciation charged in the year
10,881
7,115
Eliminated in respect of disposals
-
-
At 31 March 2022
16,322
10,076
Carrying amount
At 31 March 2022
1,071,805
30,468
At 31 March 2021
1,082,686
5,703		 Computers
£
21,202
4,201
-
25,403
-
5,301
-
5,301
20,102
21,202		 Motor
vehicles
£
49,329
39,572
(14,835)
74,066
31,242
10,435
(14,835)
26,842
47,224
18,087		 Total
£
1,167,322
75,653
(14,835)
1,228,140
39,644
33,732
(14,835)
58,541
1,169,599
1,127,678

Freehold land and buildings with a carrying amount of £1,071,805 (2021 - £1,082,686) 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 2022

16 Fixed asset investments

Valuation
At 1 April 2021
Valuation changes
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
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
£
17,374
1,266
18,640
18,640
17,374
2022
2021
£
£
170,587
383,318
18,640
17,374
1,214,640
1,114,752
2022
2021
£
£
101,694
333,059
68,893
50,259
41,559
27,072
212,146
410,390

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

19 Loans and overdrafts

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		 2022
£
173,722
18,989
154,733
75,955		 2021
£
191,367
17,773
173,594
97,181

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

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
21
Creditors: amounts falling due after more than one year
Notes
Bank loans
19		 2022
£
18,989
22,179
54,780
875,513
110,625
1,082,086
2022
£
154,733		 2021
£
17,773
15,306
60,461
776,696
86,228
956,464
2021
£
173,594

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

22 Deferred income

Deferred income is included in the financial statements as follows:

2022
£
Current liabilities
868,050
868,050
£
Balance at 1 April 2021
772,384
Amounts released to incoming resources
(754,665)
Amounts deferred in the year
850,331
Balance at 31 March 2022
868,050		 2021
£
772,384
772,384

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

22 Deferred income

(Continued)

Amounts deferred at 31 March 2022 were:
NHS CCG - Project administrator
Children In Need
Four Acre Trust
Gloucestershire County Council - Wellbeing Zone Youthworker
Awards for All - Animal assisted adventures
Youth Endowment Fund - Full Circle
Notgrove Trust - Full Circle
Gloucestershire County Council - Full Circle
Office of Police Crime Commission - ExChange
Young Devon- Peer Research
CHK - Mentoring
Awards for All - Community Funding
Gloucestershire County Council - Transition Chat
Gloucestershire County Council - Community Engagement Project
Ernest Cook Trust - Green Influencers
Spirax Sarco - YG Hub
The Peter Cruddas Foundation - YG Hub
Good Exchange - YP Qualifications
Gloucestershire City Council - YP Qualifications
Good Exchange - YP Qualifications
Gloucester City Council - Link Chat
Dulverton Trust - PowerUP
NHS CCG - Linked UP+
NHS CCG - Development of Hubs
NHS CCG - Flex
NHS CCG - Personal Health Budgets
NHS CCG - Bounce
NHS CCG - Fusion
NHS CCG - Link Chat +
NHS CCG - Bounce +
Grant Leon - Trustee - Cotswold Chat
SpaceHive - Cotswold Chat
Others		 £
31,546
3,368
10,000
5,000
1,224
10,419
15,000
20,000
31,571
11,896
23,050
9,000
138,862
29,384
24,972
5,000
10,450
2,000
5,000
5,000
20,000
32,220
178,680
20,000
28,714
5,000
13,694
45,763
95,404
24,523
5,000
2,862
3,448
868,050

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 £28,110 (2021: £20,202). 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 2022

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
Balance at 1 Incoming Resources Balance at 31
April 2021 resources expended March 2022
£ £ £ £
Community - Bus funds 1,968 - (1,968) -
Community - CHK Family - 20,545 (20,545) -
Community - Environmental - 19,184 (19,184) -
Community - Thirty Percy - 25,000 (25,000) -
Community - Awards for all 1,041 - - 1,041
Community - Music Project 289 - - 289
Community - Cotswold Chat - 32,814 (32,814) -
Community - Go the Extra Mile - 29,862 (29,862) -
Community - Digital Innovation 9,000 (9,000) -
Community - Mental Health - SJP - 9,511 (9,511) -
Community - Wellbeing 3,050 (1,966) 1,084
Community - EmpowHer 80 - - 80
Community - HLF 2,509 - - 2,509
Community - My Life My Plan 628 - - 628
Community - Link - 2,500 (2,500) -
Development - Sporting Chances 1,128 - - 1,128
Development - Full Circle - 47,876 (47,876) -
Development - Bus Funds 4,119 - (27) 4,092
Development - Therapy Dog - 14,776 (14,776) -
Corporate - Dock office refurbishment - 37,635 (12,131) 25,504
Corporate - Building purchase -Dock Office 427,250 (4,244) 423,006
Corporate - Equipment - 37,132 (17,182) 19,950
Corporate - Golf day - 4,000 (4,000) -
Corporate - Brenda Hoskins Trust Legacy - 297,444 - 297,444
Corporate - Capita and Grant Leon - 44,400 - 44,400
Corporate - Training 879 (879)
Development - Barclays - 43,271 (43,271) -
Development - CHK Mentoring - 8,850 (8,850) -
Development - Exchange - 32,192 (32,192) -
439,012 719,921 (337,778) 821,155

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

24 Restricted funds (Continued)
Source of restricted funds £
Architectural Heritage Fund 4,885
Children In Need - Youth Investment Fund 37,133
The Honourable Co of Gloucester 879
Sir Jules Thor 1,000
Active Glos Funding 1,050
The Nathan Tomkins Trust 1,000
Kennel Club 2,956
Awards for All 11,821
The National Ben Fund 2,500
Barnwood Trust 7,500
Gift Aid 1,250
DFC Drapers 500
Edward Gosling 10,000
Clothworkers 10,000
Groundwork Tesco 1,000
Youth Endowment Fund - Full Circle 37,520
Barclays 43,271
Office of Police Crime Commissioner - ExChange 32,192
Gloucestershire County Council 38,581
CHK 16,940
Heart of England - iWill 5,000
Ernest Cook 11,200
OPCC funding 1,000
DPD Eco 1,984
Thirty Percy 20,000
Spirax Sarco 2,500
St James' Place 9,511
Cotswold District Council 6,000
SpaceHive 6,814
Tewkesbury Borough Council 5,000
CHK Family 12,455
V. Sheridan 4,000
Going the Extra Mile 29,862
Capital and Grant Leon 44,400
Brenda Hoskins Trust Legacy 297,444
Others 774
719,921

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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.

Balance at
1 April 2020
£
Building fund
165,682
165,682
Analysis of net assets between funds
Unrestricted
fund
Designated
fund
Restricted
fund
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented
by:
Tangible assets
48,248
648,799
472,552
Investments
18,640
-
-
Current assets/(liabilities)
574,760
-
348,603
Long term liabilities
(154,733)
-
-
486,915
648,799
821,155		 Movement in funds
Incoming
resources
Resources
expended
Balance at
1 April 2021
£
£
£
655,436
(165,682)
655,436
655,436
(165,682)
655,436
Total
Unrestricted
fund
Designated
fund
2022
2021
2021
£
£
£
1,169,599
38,905
655,436
18,640
17,374
-
923,363
439,294
-
(154,733)
(173,594)
-
1,956,869
321,979
655,436		 Resources
expended
£
(6,637)
(6,637)
Restricted
fund
2021
£
433,337
-
5,675
-
439,012		 Balance at
31 March
2022
£
648,799
648,799
Total
2021
£
1,127,678
17,374
444,969
(173,594)
1,416,427

26 Analysis of net assets between funds

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

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:

2022 2021
£ £
Between two and five years 76,725 74,161

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

27 Operating lease commitments

(Continued)

28 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2022 2021
£ £
Aggregate compensation 212,639 205,746

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 £21,048 (2021: £23,657) for management related services, and £3,900 for rent and office space (2021: £3,600), and £5,880 (2021: 3,924) for general recharges. Infobuzz Limited charged Young Gloucestershire £200,838 (2021: £182,297) for the provision of welfare services. At the reporting end date, Young Gloucestershire owed Infobuzz Limited £6,925 (2021: Infobuzz Limited owed Young Gloucestershire £13,736).

29
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of tangible fixed assets
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
Increase in creditors
Cash generated from operations
30
Analysis of changes in net funds
At 1 April 2021
£
Cash at bank and in hand
991,043
Loans falling due within one year
(17,773)
Loans falling due after more than one year
(173,594)
799,676		 2022
£
540,442
(2,581)
(4,070)
(1,266)
33,732
198,244
124,406
888,907
Cash flowsAt 31
£
802,260
(1,216)
18,861
819,905		 2021
£
529,682
(2,844)
-
(3,267)
15,888
(255,495)
535,393
819,357
March 2022
£
1,793,303
(18,989)
(154,733)
1,619,581