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2023-03-31-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 2023

YOUNG GLOUCESTERSHIRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr M. Sheridan Mr M. Moule Ms C. Stallard Mr S. McKeag Mr P. Holroyd Ms C. O'Donoghue Mr S. Titterton Mr G. Leon Mr J. Tabor Ms S. Danson

(Appointed 24 October 2023) (Appointed 24 October 2023)

Key Management Personnel

Chief Executive Officer Ms T. Clark
Finance Manager Ms L. Howes
Senior Managers Mr T. Saunders
Ms A. Wynn
Ms E. Blakelock
Mr T. Jones
Ms I. Sime
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

LEGAL AND ADMINISTRATIVE INFORMATION

Investment advisors Crowe Financial Planning UK Ltd St James's House St James's Square Cheltenham Gloucestershire GL50 3PR Investment advisors LGT Wealth Management LLP 14 Cornhill London EC3V 3NR

YOUNG GLOUCESTERSHIRE LIMITED

CONTENTS

Page
Trustees' report 1 - 9
Statement of trustees' responsibilities 10
Independent auditor's report 11 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 39

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

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 aims to create opportunities that educate, help and inspire young people. The projects are targeted to help any young person in need with no discrimination regarding 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 2022/23 focused on consolidating the support for young people due to the fallout of the Covid pandemic. Over this period, we have grown and developed our services to respond to the needs of young people in the county. There continues to be a specific focus on our mental health services and support for young people to re-engage in education as well as mentoring programme aimed at young people who are considered at risk of CSE.

Below are services we have delivered in 2022/23:

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Items of particular note were:

· During the year we have rented a property in Tewkesbury to deliver mental health services. We have also provided a drop in over the winter months for young people to come and receive a hot meal and drink.

Long term investment funds have been created for the donation received from Brenda Hoskins Legacy.

Our overall total of young people worked with during the year was 4,721.

Our services include:

Education and Development services

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Community and Mentoring Services

Therapeutic Services

Fundraising

This year was a positive year for Young Gloucestershire, with contracts being renewed and extended and several 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 demand in the community.

Young Gloucestershire employs a Head of Income Communications and Marketing and one full-time Fundraising Manager whose main focus is applying for grants from charitable foundations and events. The Head of Income is responsible for developing corporate relationships, high net worth donors, and working with the CEO on statutory contracts and tenders. The team has also just employed YG's first fundraising apprentice.

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

We also have an online giving page and a text donate number. Aside from employees of our corporate partners, we do not use any third parties to fundraise on our behalf.

Any voluntary regulated scheme binds none of the fundraising undertaken.

If a fundraising event is organised on behalf of YG, information is provided on our website on how to do this, but this activity needs to be monitored.

We have received no complaints regarding fundraising.

The expectation for 23/24 will see an increase in grant funding to support projects for 1-3 years, with a robust and proven funding model being used. There are also likely to be several programmes and projects being recommissioned and extended via statutory sources.

We are to continue to developing new programmes that meet the local need of our young people. The fundraising priorities for the first part of the year are an environmental youth worker, gender diversity youth workers, refugee support youth workers and a mentoring programme to engage yps with behavioural challenges.

There is also a focus on engaging the local business community and corporate organisations to provide further financial support and fundraising initiatives. The fundraising team are also continuing to develop events that are aimed at increasing the amount of unrestricted funding for the 23/24 year.

There will also be a need to secure capital funding to allow us to contribute to the future building strategy for YG.

Financial review

Young Gloucestershire’s financial performance remained strong

Total income was £2,316,692. Expenditure for the year was £2,286,534.

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 £74,821 (2022: £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 £24,985 (2022: £540,442). This leaves the charity with general unrestricted funds of £569,126, designated funds of £642,162 and restricted funds of £770,566.

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 £435,390 of which £46,596 were restricted and so unavailable for general use. This leaves the charity with liquid free reserves of £388,794. 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 2023

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 other sources including:

all of whom provide funding to enable the charity to carry out its charitable objectives.

Investment policy

Young Gloucestershire investments are managed on our behalf by LGT Wealth Management LLP. Investments are distributed in a range of asset classes, the details of which are included below. The Investment committee sets the overall performance and ethical parameters under which our investment managers operate.

The primary objectives of our investment portfolio are to:

The total return on our portfolio over the financial year was a negative return of 0.36%.

The distribution of investments as of 31st March 2023 was:

UK Corporate 6%

Oversea Corporates 32%

Global Equities 32%

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

North America 5%

Asia 7%

Alternatives/Cash 18%

The trustees have declared that the charity will not directly invest in armaments, tobacco, or pornography.

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:

Funding – YG has been working hard in diversifying its funding sources including contracts and grant funding. we continue to seek to do this to spread the risk of loss of funding. We have seen a positive result from our fundraising efforts this year. We have also embarked on developing fundraising intiatives and corporate support that has allowed us to fund programmes that have previously been funded from reserves.

Recruitment of appropriate skillsets – Over recent years YG has found it needs a wider and more varied skillsets to deliver the services we deliver. The services we deliver are reliant on the skillset of the staff delivering these services. YG has been widening the range of qualifications it seeks and exploring the development opportunities available to the team to ensure we can meet these needs. As the organisation is growing we are diversifying our skills and this is having a positive impact.

Plans for future periods

Environmental Policy/Carbon Reduction Plan

YG is committed to an environmental agenda and significant progress has been made in this area in recent years with the purchase of an electric car and work towards reducing our carbon footprint. Additional policies are under development.

Other future plans

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Our on-going 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 (Resigned 10 January 2023) 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 (Resigned 6 September 2023) Mr G. Leon Mr J. Tabor (Appointed 24 October 2023) Ms S. Danson (Appointed 24 October 2023)

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 2023

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. A cost of living pay rise was agreed in April 2022 and in October 2022. The trustees took the decision to bring forward the pay increase due to the cost of living crisis. The board of trustees sets the salary of the CEO and senior management team.

YOUNG GLOUCESTERSHIRE LIMITED

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Partnerships in the wider community

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

Post balance sheet event

Since the end of the year, a proposal has been made and agreed by the board of Trustees to acquire Infobuzz (a charitable company limited by guarantee). It is envisaged this will take place in October 2023.

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: 6 December 2023

YOUNG GLOUCESTERSHIRE LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

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 MEMBERS OF YOUNG GLOUCESTERSHIRE LIMITED

Opinion

We have audited the financial statements of Young Gloucestershire Limited (the ‘charity’) for the year ended 31 March 2023 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 MEMBERS 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.

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 MEMBERS 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 Bishop (Senior Statutory Auditor) for and on behalf of Pitt Godden & Taylor LLP

6 December 2023

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 2023

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
Donations and legacies
3
152,141
445,821
Charitable activities
4
1,652,822
20,146
Activities for generating funds
5
39,516
-
Investments
6
5,284
962
Other income
7
-
-
Total income
1,849,763
466,929
Expenditure on:
Raising funds
8
178,051
64,747
Charitable activities
9
1,517,816
525,920
Total resources expended
1,695,867
590,667
Net gains/(losses) on investments
15
(3,501)
(1,672)
Net incoming/(outgoing) resources before
transfers
150,395
(125,410)
Gross transfers between funds
(74,821)
74,821
Net income/(expenditure) and net movement in funds
75,574
(50,589)
Fund balances at 1 April 2022
1,135,714
821,155
Fund balances at 31 March 2023
1,211,288
770,566		 Total
2023
£
597,962
1,672,968
39,516
6,246
-
2,316,692
242,798
2,043,736
2,286,534
(5,173)
24,985
-
24,985
1,956,869
1,981,854		 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

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 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 17 1,208,648 1,169,599
Investments 18 474,447 18,640
1,683,095 1,188,239
Current assets
Debtors 20 567,785 212,146
Cash at bank and in hand 943,515 1,793,303
1,511,300 2,005,449
Creditors: amounts falling due within
one year 22 (1,075,910) (1,082,086)
Net current assets 435,390 923,363
Total assets less current liabilities 2,118,485 2,111,602
Creditors: amounts falling due after
more than one year 23 (136,631) (154,733)
Net assets 1,981,854 1,956,869
Income funds
Restricted funds 26 770,566 821,155
Unrestricted funds
Designated property funds 27 642,162 648,799
General unrestricted funds 569,126 486,915
1,211,288 1,135,714
1,981,854 1,956,869

The financial statements were approved by the Trustees on 6 December 2023

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 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
32
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Purchase of investments
Interest and rental income received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
(293,979)
(82,913)
-
(460,980)
6,246
(537,647)
(18,162)
(18,162)
(849,788)
1,793,303
943,515		 2022
£
£
888,907
(75,653)
4,070
-
2,581
(69,002)
(17,645)
(17,645)
802,260
991,043
1,793,303

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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, windows - 15 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 2023

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 2023

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 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
150,726
5,951
Charitable grants
1,415
439,870
152,141
445,821
For the year ended 31 March 2022
102,790
719,921
Grants receivable for core activities
Spirax Sarco
-
5,000
St James's Place Foundation
-
16,355
Tewkesbury CIF
-
50,000
Four Acre Trust
-
10,000
OPCC
-
78,363
The Notgrove Trust
-
22,973
Peter Cruddas Foundation
-
10,450
Go The Extra Mile
-
-
Dulverton Power up
-
21,480
CHK Foundation
-
76,635
National Grid
-
10,000
The D'oyly Carte Charitable Trust
-
4,000
Mark Sheridan
-
-
Tewkesbury ILP
-
7,000
Cotswold District Council
-
-
Barnwood Trust
-
-
Police Crime Commission
-
-
Barclays
-
-
Youth Endowment Fund
1,415
-
Gloucester City Council
-
132
The Kennel Club
-
-
The Clive Richards Foundation
-
5,000
Gloucestershire County Council
-
67,227
National Lottery - Awards for All
-
10,224
Thirty Percy
-
-
Ernest Cook
-
24,167
Clothworkers Foundation
-
-
Children in Need Youth Investment Fund
-
-
Other Charitable foundations
-
20,864
1,415
439,870		 Total
2023
£
156,677
441,285
597,962
5,000
16,355
50,000
10,000
78,363
22,973
10,450
-
21,480
76,635
10,000
4,000
-
7,000
-
-
-
-
1,415
132
-
5,000
67,227
10,224
-
24,167
-
-
20,864
441,285		 Total
2022
£
437,534
385,177
822,711
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

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Sales within charitable activities
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 March 2022
Unrestricted funds
5
Activities for generating funds
Service charges to Infobuzz Limited
6
Investments
Income from listed investments
Interest receivable
7
Other income
Net gain on disposal of tangible fixed assets		 Community Development
Team
Other income
£
£
£
1,211,100
444,994
16,874
1,191,829
444,119
15,925
19,271
875
-
1,211,100
444,994
15,925
1,260,163
529,358
27,480
Unrestricted
Restricted
funds
funds
2023
2023
£
£
1,444
962
3,840
-
5,284
962		 Total
2023
Total
2022
£
£
1,672,968
1,826,186
1,652,822
1,826,186
20,146
-
1,672,968
1,826,186
1,826,186
2023
2022
£
£
39,516
24,948
Total Unrestricted
funds
2023
2022
£
£
2,406
-
3,840
2,581
6,246
2,581
Total Unrestricted
funds
2023
2022
£
£
-
4,070		 Total
2022
£
1,826,186
1,826,186
-
1,826,186
1,826,186
2022
£
24,948

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Raising funds

Unrestricted
Restricted
funds
funds
£
£
Fundraising and publicity
Staff costs
103,872
38,905
Support costs
71,244
24,490
Fundraising and publicity
175,116
63,395
Governance costs
Support costs
2,299
721
178,051
64,747
For the year ended 31 March 2022
Fundraising and publicity
145,661
49,789
Allocated Governance costs
921
224
Total Fundraising and publicity
146,582
50,013		 Total
2023
£
142,777
95,734
238,511
3,020
242,798		 Total
2022
£
101,223
94,227
195,450
1,145
196,595
195,450
1,145
196,595

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Charitable activities

Community Development
Team
£
£
Staff costs
640,505
485,206
Direct : Other staff costs
32,415
25,202
Direct expenses
90,656
91,625
Premises costs
72,633
-
836,209
602,033
Grant funding of activities (see note 11)
27,500
-
Share of support costs (see note 12)
315,078
245,807
Share of governance costs (see note
12)
9,873
7,236
1,188,660
855,076
Analysis by fund
Unrestricted funds
933,568
584,248
Restricted funds
255,092
270,828
1,188,660
855,076
For the year ended 31 March 2022
Unrestricted funds
1,255,148
260,903
Restricted funds
200,085
182,994
1,455,233
443,897		 Dock
Offices
Refurb
Costs
£
-
-
-
-
-
-
-
-
-
-
-
-
18,095
27,500
45,595		 Total
2023
£
1,125,711
57,617
182,281
72,633
1,438,242
27,500
560,885
17,109
2,043,736
1,517,816
525,920
2,043,736		 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

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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.

11 Grants payable

Community
2023
£
Grants to institutions (9 grants):
Grants to institutions:
North Cotswold Food Bank
2,250
Severn Wye
4,000
GL3 Hub
2,250
Tewkesbury Foodbank
4,500
Citizens Advice
3,000
Tewkesbury Citizens Advice
1,500
Priors Park Neighbourhood Project
3,000
Mindsong
4,000
Caring for Communities and People
3,000
27,500		 2022
£
-
-
-
-
-
-
-
-
-
-

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

11 Grants payable

(Continued)

Community

Young Gloucestershire received a grant of £50,000 from the NHS Integrated Care Board in order to enable support for individuals, households, accessing services in the Tewkesbury locality. Part of this included grants to assist with cost-of-living pressures. Young Gloucestershire were required to pay out grants to recipients specified in the grant agreement. These are listed above. Young Gloucestershire also received funds to assist with those projects or alternatively any other projects meeting the criteria.

12 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
£
£
415,196
-
43,864
-
34,222
-
150,067
-
(119)
-
6,235
-
7,154
-
-
-
-
7,501
-
12,628
656,619
20,129
95,734
3,020
560,885
17,109
656,619
20,129		 2023
£
415,196
43,864
34,222
150,067
(119)
6,235
7,154
-
7,501
12,628
676,748
98,754
577,994
676,748		 2022 Basis of allocation
£
293,250 Actual staff costs
33,732 Use of assets
38,015 Proportion of staff costs
168,147 Proportion of staff costs
44,094 Proportion of staff costs
13,381 Proportion of staff costs
7,521 Proportion of staff costs
34,926 Actual spend
5,161 Governance
2,474 Governance
640,701
95,372
545,329
640,701

Included in finance costs is interest payable on the bank loan of £4,741 (2022: £5,673).

Governance costs includes payments to the auditors of £7,501 (2022: £5,161) for audit fees. A further £7,718 (2022: £6,440) was paid to the auditors in respect of other non-audit services - other financial services.

13 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 the balance of £59 (2022: £635) for trustee liability insurance.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 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		 2023
Number
69
2
71
2023
£
1,514,131
131,273
38,280
1,683,684		 2022
Number
52
2
54
2022
£
1,078,869
81,944
28,110
1,188,923

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:

Remuneration band between £60,000- £70,000
Net gains/(losses) on investments
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Revaluation of investments
(3,501)
(1,672)		 2023
2022
Number
Number
1
1
Total Unrestricted
funds
2023
2022
£
£
(5,173)
1,266		 2022
Number
1

15 Net gains/(losses) on investments

16 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

17
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 April 2022
1,088,127
40,544
Additions
82,913
-
At 31 March 2023
1,171,040
40,544
Depreciation and impairment
At 1 April 2022
16,322
10,076
Depreciation charged in the year
13,645
7,114
At 31 March 2023
29,967
17,190
Carrying amount
At 31 March 2023
1,141,073
23,354
At 31 March 2022
1,071,805
30,468		 Computers
£
25,403
-
25,403
5,301
6,351
11,652
13,751
20,102		 Motor
vehicles
£
74,066
-
74,066
26,842
16,754
43,596
30,470
47,224		 Total
£
1,228,140
82,913
1,311,053
58,541
43,864
102,405
1,208,648
1,169,599

Freehold land and buildings with a carrying amount of £1,141,073 (2022 - £1,071,805) 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 2023

18 Fixed asset investments

Valuation
At 1 April 2022
Additions
Valuation changes
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
19
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
20
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Listed
investments
£
18,640
460,980
(5,173)
474,447
474,447
18,640
2023
2022
£
£
456,344
170,587
474,447
18,640
1,180,682
1,214,640
2023
2022
£
£
455,481
101,694
863
68,893
111,441
41,559
567,785
212,146

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

21 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		 2023
£
155,560
18,929
136,631
54,938		 2022
£
173,722
18,989
154,733
75,955

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.

22 Creditors: amounts falling due within one year

22
Creditors: amounts falling due within one year
Notes
Bank loans
21
Other taxation and social security
Trade creditors
Other creditors and deferred income
Accruals
23
Creditors: amounts falling due after more than one year
Notes
Bank loans
21		 2023
£
18,929
31,859
61,098
884,065
79,959
1,075,910
2023
£
136,631		 2022
£
18,989
22,179
54,780
875,513
110,625
1,082,086
2022
£
154,733

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

24 Deferred income

Deferred income is included in the financial statements as follows:

2023
£
Current liabilities
873,670
873,670
£
Balance at 1 April 2022
868,050
Amounts released to incoming resources
(867,495)
Amounts deferred in the year
873,115
Balance at 31 March 2023
873,670		 2022
£
868,050
868,050

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

24 Deferred income

(Continued)

Amounts deferred at 31 March 2023 were:
NHS CCG - Project administrator
Children In Need
Four Acre Trust
Gloucestershire County Council - ESHO
JH Rausing Trust - Full Circle
Nationwide - Homestart Bright Start
CHK Foundation - Mentoring
Gloucestershire County Council - HAF Easter
Office of Police Crime Commission -Mentoring
Young Devon- Peer Research
CHK - Mentoring
CLA Environmental
Gloucestershire County Council - Transition Chat
Gloucestershire County Council - SEMH
Ernest Cook Trust - Green Influencers
Spirax Sarco - YG Hub
St James's Place Charitable Trust
GloW - YG Hub
Cheltenham Borough Council - Wellbeing Walks
Good Exchange - YP Qualifications
Gloucester City Council - Violent Crime
Dulverton Trust - PowerUP
NHS CCG - Linked UP+
NHS CCG - Group Work
NHS CCG - Tewkesbury Flex
NHS CCG - Personal Health Budgets
NHS CCG Waiting List reduction
NHS CCG - Fusion
NHS CCG - Bluebells
NHS CCG - Neurodiversity
ILP Cotswold - Cotswold Chat
Others		 £
10,000
22,021
11,176
10,000
35,700
3,750
7,922
25,708
21,951
3,315
3,000
128,796
46,636
30,655
5,000
13,625
5,000
4,895
5,000
48,000
10,740
102,300
75,299
5,000
100,000
43,420
36,079
43,958
2,960
11,764
873,670

25 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 £38,280 (2022: £28,110). 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 2023

26 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 ** Revaluations, Balance at 31
April 2022 resources expended gains and March 2023
losses
£ £ £ £ £ £
Community -
Schools &
Community - 19,740 (27,709) 7,969 - -
Community - Violent
Crime - - (2,262) 2,262 - -
Community -
Environmental - 24,167 (26,804) 2,637 - -
Community - CIF
Tewkesbury - 50,000 (53,431) 3,431 - -
Community - Awards
for all 1,041 - - - - 1,041
Community - Music
Project 289 - - - - 289
Community -
Cotswold Chat - 23,115 (30,893) 7,778 - -
Community - Go the
Extra Mile - 19,271 (34,659) 15,388 - -
Community - YG
Hub 31,582 (45,298) 13,716 - -
Community -
Wellbeing 1,084 - - - - 1,084
Community -
Linkchat SJP 16,355 (22,189) 5,834 - -
Community -
EmpowHer 80 21,480 (24,838) 3,358 - 80
Community - HLF 2,509 - - - - 2,509
Community - My Life
My Plan 628 - - - - 628
Community - HAF - 10,000 (10,000) - -
Community - CYP
Activity - 710 (710) - - -
Development -
ExChange - 71,571 (58,888) - - 12,683
Development -
Sporting Chances 1,128 - - - - 1,128
Development - Full
Circle - 53,592 (72,694) 19,102 - -
Development - Bus
Funds 4,092 - (1,895) - - 2,197
Development -
Prince's Trust - 4,750 (4,750) -
Development -
Therapy Dog - 1,224 (1,224) - - -
Development -
Mentoring - 76,755 (96,890) 20,135 -

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

26 Restricted funds (Continued)
Balance at 1 Incoming Resources Transfers Revaluations, Balance at 31
April 2022 resources expended gains and March 2023
losses
£ £ £ £ £ £
Development -
Pathways - 29,384 (29,486) 102 -
Development -
ESHO - 7,224 (10,313) 3,089 -
Development -
diversion - OPCC - 4,292 (5,174) 882 -
Development -
Apprentices - 755 (14,293) 13,538 - -
Corporate - Dock
office refurbishment 25,504 - (6,376) - - 19,128
Corporate - Building
purchase -Dock
Office 423,006 - (4,272) - - 418,734
Corporate -
Equipment 19,950 - (4,988) - - 14,962
Corporate - Brenda
Hoskins Trust
Legacy 297,444 962 (631) - (1,672) 296,103
Corporate - Capita
and Grant Leon 44,400 - - (44,400) - -
821,155 466,929 (590,667) 74,821 (1,672) 770,566

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

26 Restricted funds (Continued)
Source of restricted funds £
The D'Oyly Carte
Charitable Trust 4,000
Awards for all 10,224
The Notgrove Trust 22,973
Tewkesbury ILP 7,000
Ernest Cook 24,167
Tewkesbury CIF 50,000
St James's Place Charitable Foundation 16,355
Peter Cruddas
Foundation 10,450
The Clive Richards
Foundation 5,000
Dulverton 21,480
Four Acres 10,000
GloW 5,000
National Grid 10,000
Cotswold ILP 2,403
Grant Leon 5,000
European Metal 1,000
Go The Extra Mile 19,271
Office of Police Crime Commissioner 78,363
Gloucestershire County Council 67,227
CHK 76,635
ILP Funding 1,000
Spirax Sarco 5,000
Tewkesbury Borough
Council 10,000
Others 4,381
466,929

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

27 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.

Building fund
Analysis of net assets between funds
Unrestricted
fund
Designated
fund
Restricted
fund
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented
by:
Tangible assets
112,175
642,162
454,311
Investments
204,788
-
269,659
Current assets/(liabilities)
388,794
-
46,596
Long term liabilities
(136,631)
-
-
569,126
642,162
770,566		 Balance at
1 April 2021
Resources
expended
Balance at
1 April 2022
£
£
£
655,436
(6,637)
648,799
655,436
(6,637)
648,799
Total
Unrestricted
fund
Designated
fund
2023
2022
2022
£
£
£
1,208,648
48,248
648,799
474,447
18,640
-
435,390
574,760
-
(136,631)
(154,733)
-
1,981,854
486,915
648,799		 Resources
expended
31
£
(6,637)
(6,637)
Restricted
fund
2022
£
472,552
-
348,603
-
821,155		 Balance at
March 2023
£
642,162
642,162
Total
2022
£
1,169,599
18,640
923,363
(154,733)
1,956,869

28 Analysis of net assets between funds

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

29 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		 2023
£
56,586
71,554
128,140		 2022
£
-
76,725
76,725

30 Events after the reporting date

It is noted that in September 2023, a proposal was made and agreed by the board of Trustees for the acquisition of the charitable company Infobuzz. This took place on 28 October 2023.

31 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 243,658 212,639

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 £23,797 (2022: £21,048) for management related services, and £4,125 for office space & utilities (2022: £3,900), and £23,036 (2022: 5,880) for general recharges. Infobuzz Limited charged Young Gloucestershire £1,594 (2022: £200,838) for the provision of welfare services and recharges. At the reporting end date, Infobuzz Limited owed Young Gloucestershire £4,609 (2022: Young Gloucestershire owed Infobuzz Limited £6,925).

YOUNG GLOUCESTERSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

32
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:
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash (absorbed by)/generated from operations
33
Analysis of changes in net funds
At 1 April 2022
£
Cash at bank and in hand
1,793,303
Loans falling due within one year
(18,989)
Loans falling due after more than one year
(154,733)
1,619,581		 2023
£
24,985
(6,246)
-
5,173
43,864
(355,639)
(6,116)
(293,979)
Cash flowsAt 31
£
(849,788)
60
18,102
(831,626)		 2022
£
540,442
(2,581)
(4,070)
(1,266)
33,732
198,244
124,406
888,907
March 2023
£
943,515
(18,929)
(136,631)
787,955