OXFORD YOUTH ENTERPRISE LIMITED (A company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
CHARITY NUMBER: 288326 COMPANY NUMBER: 01598586
OXFORD YOUTH ENTERPRISE LIMITED
| CONTENTS Report of the trustees Independent examiner's report Statement of financial activities Balance sheet Notes forming part of the financial statements |
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OXFORD YOUTH ENTERPRISE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
Reference and administrative details of the charity, its trustees and advisors
The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31st March 2024
The company was incorporated on 19 November 1981 as amended by special resolution on 26 May 1983. The company was registered as a charity on 10 February 1984.
Company Number Charity Number Registered Office
01598586
288326 11 Lime Tree Mews 2 Lime Walk Headington Oxford OX3 7DZ
Directors
The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The trustees serving during the period were as follows;
Mr G Smith Mrs T Smith - died 22.08.2024 Dr M G Khan
Independent examiner: V C Paige FCCA WaltonPaige Accountants 11 Lime Tree Mews 2 Lime Walk Headington Oxford OX3 7DZ
Bankers:
HSBC 65 Cornmarket Street Oxford OX1 3HY
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OXFORD YOUTH ENTERPRISE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
(continued)
Structure, Governance and Management
Oxford Youth Enterprise Limited is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Charity Number : 288326 Company number: 01598586. The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £5.
Public Benefit
The trustees have taken into account the Charity Commission guidance on public benefit and believe that the activities are in line with that guidance.
Objectives, Activities, Achievements and Performance
The objects of the charity are to provide training, education and related services to disadvantaged young people in the Oxford/Oxfordshire area; this geographical coverage has now been extended to include 'and other areas'. The charity trustees for 2023/24 were George Smith (chair), Teresa Smith and Dr M G Khan.
Oxford Youth Enterprise Ltd has continued to work with and support the Name It Youth Project throughout the year. This group of youth workers began to provide services for young people in Oxford in January 2015. This project has continued very successfully over the past ten years, and as experience was gained Name It has extended the activities it provides and the groups it works with into new areas.
Programme 2023-24
The Name It Youth Project continued to operate regular weekly sessions in Oxford throughout the year, mainly based as before in Barracks Lane Community Gardens in East Oxford but also on occasions using the Scout Centre on Ridgefield Road, as it has a larger heated space and cooking facilities in cold weather. This proved very useful for a major fund raising event that Name It organized for Palestinian refugees in November 2023. This raised over £2200. This was sent to two charities, Medical Aid for Palestine (MAP) and Medicins sans Frontieres (MSF).
Weekly sessions typically involve two separate groups operating on Saturday at Barracks Lane Community Gardens, and a third detached youth work programme 'Step Forward' covering different areas of Oxford using a pop-up gazebo as a focal point where young people gather. The innovative and very successful girls 'Green Spaces and Us' group built on the work of the previous year, moving on to design more suitable public 'open spaces' that would attract girls to make more use of such areas. This culminated at an open air meeting with the Lord Mayor of Oxford in June, displaying a model of their projected design, and presentations by girls from the group. The group received a formal 'Certificate of Appreciation' from the Lord Mayor for their work.
Under the 'East Oxford Youth Partnership' led by the Name It project, a further series of holiday play-schemes took place in the Spring, Summer and Winter holidays. These were funded by the Oxfordshire County Council, drawing on support from the holiday free school meal programme, originally stimulated by Marcus Rashford. The three other groups were Donnington Doorstep, Family Arena and the Syrian Community in Oxford (Syrcox). Name It provided 28 four hour holiday sessions, coordinating with the other groups to ensure holiday coverage by one or the other group. As in previous years, a successful three day camping trip took place at Willowbrook Farm.
In total over the year Name It held 50 'open access' sessions, 26 'Green Spaces and Us' sessions, and 20 detached youth work sessions together with three holiday schemes and the summer residential camping trip. Sessions have been very well attended with regular attenders, plus a good flow of new young people. The open format means that there is regular contact with parents or other family members. As in previous years, sometimes this close contact leads on to individual counselling sessions that may raise safeguarding issues that have to be discussed and if necessary, followed up.
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OXFORD YOUTH ENTERPRISE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
(continued)
In addition to the Lord Mayor's certificate, Name It was shortlisted for the annual 2023 'Make a Difference Award' by BBC Oxford Radio. The youth leader Nafeesa Hussain was formally presented with the High Sheriff of Oxfordshire's award in March 2024 in 'recognition of great and valuable services to the community'. The Name It group has also been invited to present their work at conferences and meetings in Oxford.
In February 2024 in a new development Nafeesa started a weekly Name It programme in Sheffield at the Al Huda Institute, starting with a girl's group on Sunday. There was a very high take up from families in the local area, needing local volunteers to take part to cope with the demand. This programme has continued as a regular session every week, including moving around the local area to explore other spaces as with the Oxford girls' group. Funding was received from a local South Yorkshire charity.
Income
The main source of funding in 2023-24 has been the County and City Council. The County supported all three of the holiday play-schemes and also funded the 'Green Spaces and Us' project. As the holiday schemes were built around providing a 'nutritious meal' to participants. This year this meant registering with the national Food Standards Agency and being formally assessed. Name It was granted a 5* classification. The three year Oxford City 'Big Ideas' scheme provided the main source of funds for the weekly open sessions in Oxford.
Activities and staffing
Nafeesa Hussain has continued to be the project leader, planning, organising and managing the sessions in both Oxford and Sheffield with great energy, skill and stamina. She has continued to be supported by a small group of volunteers and part time paid youth workers. Similar arrangements have been set in place in Sheffield.
Barracks Lane has been the main Oxford location, with other locations including local parks, playing fields, other open spaces and Willowbrook Farm. Ansa Khan who, with Nafeesa, was one of the founder members and an able deputy if Nafeesa was not available for a session, decided to move on in her career in January 2024. She will be much missed.
Future
OYE/Name It is now in a very much stronger position financially than it has been for many years, with grants from multiple sources. The overall project is run by a very resourceful and capable youth leader who is widely recognised in the Oxford area for her experience, knowledge and skill in working with young people. She provides the critical backup and advanced preparation to make sure that sessions are well planned and resorced. This is particularly important as the project has increasingly provided food at most sessions and the play-schemes. She has been the driving force behind the East Oxford Youth Partnership and has successfully coordinated funding with other local groups for three separate proposals this year. She also has a committed group of volunteers and part-time workers who assist in the work, and to whom she provides ongoing training and support using some of the on-line trainig resources and gualifications now available.
Sadly, one of our founding trustees, Mrs Teresa Smith, died in August 2024. OYE continues as a memorial, along with other charities to which she provided long term support.
Reserves Policy
The intention is for the charity to hold sufficient funds in order to meet its liabilities as and when they fall due.
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OXFORD YOUTH ENTERPRISE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
(continued)
Responsibilities of the Trustees
The trustees (who are also directors of Oxford Youth Enterprise Limited for the purpose of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with the 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 period, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inapprropriate to assume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small Company Provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
On behalf of the Trustees
Mr G Smith Trustee Date:
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OXFORD YOUTH ENTERPRISE LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
OXFORD YOUTH ENTERPRISE LIMITED
I report on the accounts of the company for the year ended 31st March 2024 which are set out on pages 6 to 8.
I report to the Trustees on my examination of the financial statements of Oxford Youth Enterprise Limited for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination ; or
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
VC Paige FCCA For and on behalf of WaltonPaige Accountants 11 Lime Tree Mews 2 Lime Walk Headington Oxford OX3 7DZ
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OXFORD YOUTH ENTERPRISE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| INCOMING RESOURCES | ||||
| Incoming Resources from Generated Funds | ||||
| Voluntary Income: | ||||
| Donations | 70 | 2,325 | ||
| Grants | 44,915 | 26,907 | ||
| TOTAL INCOMING RESOURCES | 44,985 | 29,232 | ||
| RESOURCES EXPENDED | ||||
| Charitable Expenditure | ||||
| Project leader salary | 18,352 | 14,191 | ||
| Workshop expenses and associated costs | 15,792 | 10,180 | ||
| Rent | 3,143 | 2,586 | ||
| Insurance | 366 | 346 | ||
| 37,653 | 27,303 | |||
| Governance Costs | ||||
| Accountancy | 420 | 432 | ||
| Sundries | 105 | 122 | ||
| 525 | 554 | |||
| TOTAL RESOURCES EXPENDED | 38,178 | 27,857 | ||
| Net Incoming Resources for the year | 6,807 | 1,375 | ||
| Fund balances at 1st April 2023 | 7,151 | 5,776 | ||
| Fund balances at 31 March 2024 | £ | 13,958 | £ | 7,151 |
All income and expenditure is of an unrestricted nature.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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OXFORD YOUTH ENTERPRISE LIMITED
BALANCE SHEET AS AT 31ST MARCH 2024
| Notes 2024 Current Assets Cash at Bank 17,328 Creditors:- Amounts falling due within one year 2 (3,370) Net Current Assets £ 13,958 Funds Unrestricted 13,958 £ 13,958 |
2023 18,170 (11,019) |
2023 |
|---|---|---|
| 7,151 | ||
| 7,151 | ||
| 7,151 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31st March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved by the board on and signed on its behalf by GAN Smith
…..........................
Mr G Smith Trustee
Company Number 01598586
The notes on page 8 form part of these accounts.
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OXFORD YOUTH ENTERPRISE LIMITED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024
Principal Accounting Policies
( a ) Accounting Policies
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard application 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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
( b )
Incoming Resources
Incoming resources are included when receivable.
( c ) Resources Expended Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT which cannot be recovered.
( d )
Fund Accounting
Funds held by the charity are all of an unrestricted general nature which can be used in accordance with the charitable objects at the discretion of the trustees.
- 2
Creditors:- Amounts falling due within one year
| Accruals Grants in advance |
2024 £ 3,370 - 3,370 |
2023 £ 1,039 9,980 |
|---|---|---|
| 11,019 |
- 3 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £5.
4
Trustees
There were no expenses reimbursed to trustees in the year (2023:£Nil)
5 Employees
There was 1 employee during the year (2023: 1)
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