2021-03-31-accounts - The You Trust

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Charity Registration No. 291489 Company Registration No. 1898188 (England and Wales)

THE YOU TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

CHARITY NUMBER 291489 COMPANY NUMBER 01898188

CONTENTS	PAGE
Trustees Report	3 – 26
Report of the Independent Auditors	27 - 30
Consolidated Statement of Financial Activities	31
Consolidated Balance Sheet	32
Consolidated Cash Flow Statement	33
Notes to the Financial Statements	34 - 57

TRUSTEES REPORT

1.0 INTRODUCTION
1.1 The trustees present their annual directors’ report together with the consolidated financial statements of the charity and its subsidiary My Learning Cloud Limited for the year ending 31 March 2021 which are also prepared to meet the requirements for a Directors’ report and accounts for Companies House.
1.2 In this document, the legal name of the YOU Trust is shortened to YOU.
1.3 The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, 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).
2.0 OBJECTIVES AND ACTIVITIES
2.1 The objectives of the charity as set out in the Articles of Association are:

(i) To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.

For the purpose of this clause ‘socially excluded’ means being excluded from society, or parts of society, as a result of one or more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol or drugs; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim of crime or as an offender rehabilitating into society).

(ii) The advancement of education for the public benefit.

2.2 The mission statement of YOU is:

“YOU: a family creatively empowering people in their communities”

2.3 Our culture and behaviours in pursuit of the mission and objectives are defined by our values that are embedded and role modelled throughout the charity:

Person Centred

People are at the centre of all we do. We work in equal partnership, understanding that people are experts in their own experience and have strengths, skills, and life experiences that they bring to their own situation and to others. Everyone is a unique human being to be valued. We design what we do with people based on what matters to them, ensuring they are in control of their daily lives and their future.

Trustworthy

We do what we say we will, when we say we will and how we say we will. We do not let people down. We act with integrity, honesty and openness with everyone we meet.

Excellence

We strive to be the best we can be in all that we do, recognising that people deserve nothing less from us.

Can-do

We ask ourselves how we can achieve things and not whether we can.

Innovative

We are creative thinkers. We listen and build on ideas. We do not block, welcoming fresh perspectives and imagining new possibilities

2.4 The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In approving the annual business plan trustees consider how planned activities will contribute to the aims and objectives they have set.

2.5 How does our work change lives?
People with a learning disability live independent lives under their control.
Women, men and children surviving domestic abuse and hidden violence take back control of their lives, which are safe and free from fear.
Young vulnerable people develop to become independent citizens
People with mental ill health develop new meaning and purpose in their life as they grow beyond the impact of their illness
People live free of debt, maximising their incomes, with the certainty of a roof over their heads
People feel good about their lives, free from stress and worry.
People feel better connected to their communities to support their health and well-being.

2.6 YOU’s work is embedded in our communities within our families of expertise:
You First: Domestic Violence and Abuse
Young Lives: Vulnerable young people
Living Well: Learning Disabilities and Mental Health CQC Registered Care
Partners for Well-Being: whole community health and well—being: Social Prescribing, Advice Portsmouth, Dorset Integrated Prevention. Counselling services.
2.7 Publicly funded services are delivered free of charge to beneficiaries with charges applying in the case of:
Accommodation charges (rent – includes weekly licence charges)
Private purchases of domiciliary care – service user choice for additional care over and above items funded by Adult Services

Means tested counselling services.

In all services where charges applied, the trustees ensured that these did not discriminate against those who were poorer in society.

Across publicly funded services, YOU was subject to external monitoring inspection and validation against publicly set standards.

3.0 ACTIVITIES IN PURSUIT OF THE CHARITY MISSION AND OBJECTIVES
3.1 COVID-19

Throughout this year of the pandemic YOU’s work continued unabated, much of it face to face, working to COVID secure standards and safeguarding staff and beneficiaries from transmission of the virus. Where work could not be undertaken face to face, staff creatively moved to other forms of interaction including telephone and on line support. The Trustees would like to thank the staff for their dedication and resilience throughout this unprecedented year.

YOU FIRST – DOMESTIC VIOLENCE AND ABUSE (DVA)

3.2 On 1 April 2020 YOU commenced a new partnership with Somerset Council through the delivery of the Integrated Domestic Abuse Service. This was an extraordinary start to a contract with staff being transferred across to YOU under TUPE remotely during lockdown. The Trustees would like to acknowledge the skilled work of the People Team and the YOU First Quality and Operations Director in enabling this to happen smoothly. The Quality Assurance Committee of the Board was pleased to receive a report on the

transfer and from one Trustee a report on a remote meeting held with the transferring staff to learn of their experience.

3.3 In May 2020 YOU was awarded two grants, both for two years. The first was a pilot to deliver DVA family safeguarding and the second was for Court Practitioners, both across Somerset.
3.4 Through a government grant, YOU secured funding to continue providing the domestic violence and abuse Dragonfly Project in Dorset and to extend the work to Hampshire, Isle of Wight, and West Sussex. Dragonfly, amongst other things, trains people living and working in our communities to be Champions so they are equipped to receive and respond to disclosures of DVA and empowers communities to support and help those who are affected by DVA.
3.5 YOU First’s DVA Health Advocates provided training for people working in health settings to recognise and respond to DVA.
3.6 In partnership with Aurora New Dawn, YOU has continued to support the National Lottery funded DVA Cars work in Basingstoke Hampshire. DVA staff work with the police when a domestic abuse call is made so that support can be provided to the victim at the time of an incident.
3.7 YOU continues to provide the West Sussex Connect Domestic Abuse Service working with Safe Lives and West Sussex County Council to pilot new approaches in supporting individuals and whole families experiencing domestic abuse.
3.8 YOU retained its domestic violence and abuse contract across Dorset, further to a tender with a new specification.
3.9 In August 2020 in partnership with Southern Housing Group YOU opened an additional safe house to enhance our work on the Isle of Wight. In September 2020 the contract with the Isle of Wight Council for the DVA service was extended until the end of March 2022.
3.10 During the year new Government funding was provided to support the opening of a new safe house in Hampshire.
3.11 Throughout the year YOU benefited from a number of COVID related DVA grants which supported this important work during the pandemic.

COUNSELLING

3.12 In 2020/21 Counselling with You secured a new grant from the Office of the Police and Crime Commissioner to join with the Hampshire wide network of specialist counsellors to deliver a Sexual Crime Therapeutic Service in the Southampton, Hampshire and Isle of Wight areas.
3.13 During the year this work was extended with a new pilot programme with the Hampshire Police and Crime Commissioner to develop a county wide front door for Rape and Sexual Crime Therapeutic services.
3.14 Counselling with You continued to deliver its means tested general counselling service with funding from the National Lottery. During the pandemic counselling moved on line and via telephone.

YOUNG LIVES

3.15 YOU continued to provide support to vulnerable young people across the New Forest under contract with Hampshire County Council which was extended on multiple occasions. Hampshire County Council finally resolved to close the service at the end of October 2020 as no organisation, including YOU, could undertake the work for the future funding available.
3.16 YOU also continued to provide support to vulnerable young people in Weymouth and Dorchester under a contract with Dorset Council.

LIVING WELL

3.17 During the year YOU continued to provide two registered care homes for people with mental ill health in Gosport and Portsmouth and the housing management of a further mental health service in Portsmouth. Both care homes are registered with the Care Quality Commission and rated “Good”. In September YOU resolved to relinquish the lease on the property for which it undertook the housing management as the building no longer met the complex needs of the tenants.
3.18 YOU continued to deliver care registered with the Care Quality Commission at Hazelgrove, New Milton Hampshire, rated “Good”.
3.19 YOU continued to provide a wide range of supported living and support at home for people with a learning disability across Hart and Rushmoor, East Hampshire, Winchester and Fareham and Gosport under contracts with Hampshire County Council. YOU also supported people in Basingstoke, Andover and Fareham and Gosport to undertake a wealth of daytime activities of their choosing through Launchpad, a contract with Hampshire County

Council. A further contract with Hampshire County Council provided support and advice for independent living for those who fall short of the adult social care eligibility criteria. Much of this work is regulated by the Care Quality Commission and all has the rating of “Good”.

3.20 In Portsmouth YOU supported people with a learning disability across five supported living houses and in the community through its floating support work. This work is regulated by the Care Quality Commission and is rated “Good”.
3.21 During the year YOU also continued to remotely provide its Into Work service for people with a learning disability in Portsmouth.

PARTNERS FOR WELL-BEING

3.22 YOU, in partnership with the NHS Portsmouth Clinical Commissioning Group and Portsmouth City Council continued to deliver a DHSC grant for a Social Prescribing service across Portsmouth. Social Prescribing empowers people who have become isolated due to ill health or personal circumstances by working with local GPs. As an extension to this work, Social Prescribing introduced Cycling without Age in Portsmouth after feedback from carers about transport issues in the City. During the year, Social Prescribing extended its work through grants with three local Primary Care Networks in Portsmouth and Havant. In August 2020 a grant from Hayling Island and Emsworth Primary Care Network enabled the provision of 2 new Health Coaches who will work with people with long term conditions. In Portsmouth YOU was awarded funding by the Primary Care Network for two additional Health Coaches and two Care Coordinators.
3.23 Social Prescribing in Portsmouth led a successful partnership bid to the Arts Council Thriving Coastal Communities fund to help people recover from COVID19 and the impact of lockdown through the power of social prescribing. The partners were Pompey in the Community, Portsmouth Autism Community Forum, University of Portsmouth, Portsmouth Creates, Portsmouth Museums and Final Straw Solent. The award for YOU provided a Volunteer Coordinator for Social Prescribing’s Cycling Without Age initiative.
3.24 Advice Portsmouth continued to provide debt, welfare benefit, housing, employment, family, and consumer advice to the people of Portsmouth, albeit it remotely during the year. YOU was awarded a one year grant from Access to Justice for Advice Portsmouth to work within domestic abuse and social prescribing.

3.25 National Lottery 5 year funding has enabled Advice Portsmouth to continue its work through Circles of Support into its final year, meeting people using food banks and working with them to understand the root cause of their problems, resolve their crisis and develop circles of support who will be there in the future should the same trigger arise. This work was undertaken in partnership with the Kings Church Portsmouth and the Roberts Centre Portsmouth.
3.26 First Point Dorset Intervention and Prevention Service (IPS) continued to support people to have secure housing, independent lives and positive health and well-being.

THE WORK OF OUR VOLUNTEERS

3.27 During the year, the work of YOU was supported by 87 volunteers and the trustees would like to record their thanks for the time, dedication and skills they have brought to our work.

MY LEARNING CLOUD LIMITED

3.28 My Learning Cloud is the brand name of YOU’s subsidiary company My Learning Cloud Limited. My Learning Cloud continued to operate offering a personalised learning management platform and high quality interactive e learning for the health, housing and care sectors.
3.29 In April 2020 MLC received grant funding from Skills for Care to support the Department of Health and Social Care in their response to COVID-19 to ensure staff in England were trained rapidly when joining the care sector. MLC were asked to provide a number of e-Learning titles free at the point of request funded by Skills for Care.
4.0 GROUP STRATEGIC REPORT

ACHIEVEMENTS AND PERFORMANCE

4.1 In the year, YOU supported 16253 people across Somerset, West Sussex, Hampshire, Portsmouth, Isle of Wight and Dorset. This number was lower than in previous years due to COVID.
4.2 During the year both YOU and MLC received accreditation to ISO27001, the best practice international standard for information security management.

COVID-19

4.3 This year has been dominated by the management of the COVID pandemic. Our COVID management plan commenced in early March 2020 with daily senior management COVID planning meetings and daily communication to all

staff. A guidance document was issued and updated for the Group sometimes on a daily basis. From 17 March 2020, risk assessments informed where work remained face to face or became remote. All of our work regulated by CQC, some of our work in domestic violence and abuse and our support for homeless young people remained face to face. The trustees would like to acknowledge and thank the staff who worked face to face throughout; for their dedication and excellent safe practice.

4.4 The Group Organisational Development Committee met on 17 June 2020 and received a Lockdown Reflection report from the perspective of staff across both the charity and the trading company as a result of key questions posed in May 2020 after the first lockdown. Staff reported having benefited from the gift of time due to less commuting, a better work/life balance, a sense of family amongst staff supporting one another, a beneficial environmental impact and benefits from a greater use of technology. Staff missed face to face contact where they were working from home. This report informed the long term plan for post COVID working.

WORK WITH BENEFICIARIES

4.5 1234 people were supported through You First Dorset, 933 people on the Isle of Wight, 576 through YOU First’s Community services, 2466 though Somerset Integrated Domestic Abuse and 390 through West Sussex Connect. 723 victims of domestic abuse were supported through YOU First’s DVA Cars work in North Hampshire.
4.6 During the 16 days of activism in November 2020, raising awareness about violence against women and girls, 94 Dragonfly Champions were trained, ranging from hairdressers and beauticians through to teachers and NHS workers.
4.7 YOU’s Dragonfly work was a runner up for the Community Project Award at Basingstoke and Deane’s Place to be Proud of Awards in July 2020.
4.8 In December 2020 YOU First teams in Hampshire, Dorset and the Isle of Wight retained their Leading Lights accreditation. SafeLives Leading Lights is the national mark of quality for domestic abuse services and the accreditation panel praised YOU First's hard work over COVID, its positive response to the pandemic, and its excellent service provision'
4.9 YOU’s registered care homes and domiciliary care services retained CQC “Good” Ratings across the board

4.10 In Hampshire and Portsmouth YOU supported 1468 people with a learning disability to grow in independence, live well and find work.
4.11 All residents of our registered care homes remained safe and well and free from COVID. In YOU’s registered care home for people with a learning disability in New Milton in December 2020 removable visitors’ pods were introduced for family members to visit their loved ones.
4.12 Advice Portsmouth provided 4754 acts of assistance. This number was much lower than in all previous years due to COVID and advice being via telephone or on line. Advice Portsmouth were pleased to worked with HIVE Portsmouth to undertake welfare calls to those who were shielding in the city due to COVID-19.
4.13 Social Prescribing supported 978 people to make connections with organisations and community groups.
4.14 Dorset First Point supported 2075 people to secure their housing and improve their health and well-being.
4.15 Across Dorset YOU supported 48 vulnerable young people towards independence through our work at Pottery Lane Weymouth and Wollaston Road Dorchester.
4.16 YOU’s Counselling services assisted 572 people including counselling work undertaken in domestic abuse work. A new hub was opening in Fareham which will become the home of the new YOU Solent Counselling Centre, housing the sexual assault and Hampshire Hub and counselling teams, funded by the Hampshire Police and Crime Commissioner.
4.17 Trustees resolved that YOU should improve its public profile to ensure that people across our communities know the charity is there to assist them, to encourage volunteers to support us, potential job applicants to work for us and to encourage partnerships from across the business sector in support of YOU’s work. To that end a Digital Communications and Engagement Officer was appointed during the year.

QUALITY

4.18 YOU’s work is subject to internal quality standards which are audited throughout the year and improvement plans put in place where required. Trustees undertake visits to the work of the charity every quarter with a focus agreed by the Quality Assurance Committee. During these visits, they spend time with beneficiaries, volunteers and staff. Reports of these visits were made to the Quality Assurance Committee. During the year these visits

became virtual due to COVID. During the year the Quality Assurance Committee reviewed its governance surrounding safeguarding to ensure that quarterly safeguarding reports met their needs. The Committee also reviewed peer audits undertaken, quality audits and approved a number of new of revised policies including Hoarding, Medication, Mental Capacity, Anti-Social Behaviour Policy, Complaints, Infection Control and Positive Behaviour Support.

4.19 The Quality Assurance Committee received a report at its July 2020 meeting on beneficiary experiences of lockdown further to a survey of 195 beneficiaries by front line managers. Beneficiaries felt staff had done everything they could to support them to continue as normal a life as possible with common feedback being around enjoying activities indoors and improved engagement between staff and beneficiaries.

PEOPLE AND LEARNING

4.20 The success of the charity’s work is underpinned by its commitment to learning and development and this investment continued during the year despite COVID. E learning was undertaken through My Learning Cloud and training that was previously face to face was moved on line wherever possible. 30 people were sponsored to complete a qualification, 25 of whom were apprentices sponsored by the Apprenticeship Levy. Others were qualifications such as a standard QCF, or more specialist qualifications such as Independent Domestic Violence Advisors (IDVA) and Therapeutic Counselling Supervision.
4.21 YOU was awarded a place in the national Top 100 Apprenticeship Employers, at number 50; an award judged by data collected from employers.
4.22 The safety and health and well-being of staff and volunteers was of equal importance to the safety and health and well-being of our beneficiaries throughout the year. Daily senior management COVID response meetings monitored staff physical health and vaccinations of staff within registered care setting started on the first day of the national roll out of vaccinations in December 2020. Throughout the year mental health and well-being was also monitored with encouragement for open and honest communication, mutual support of team members with resources to support well-being. In place of the annual staff conference, staff and beneficiaries came together in October 2020 to make a video, Lockdown Legends, to celebrate the work and lives of everyone during the pandemic to date and to share their experiences. All staff, Premier Crew bank workers and volunteers received a Lockdown Legend thank you card and small gift voucher for their hard work.

4.23 In March 2021 a successful Craftathon was organised by the Health and WellBeing Champions to support health and well-being across YOU and My Learning Cloud. Crafting is recognised as helping to reduce anxiety, improve mood and increase happiness amongst many other mental health benefits. The Craftathon was open to all staff, workers, volunteers and beneficiaries.
4.24 This year had seen an increase in the National Living Wage, which continues to present a challenge, as Local Authorities are unable to fully support this increase through additional funding. The charity was able to meet this commitment and maintain differentials with a small pay award for all other staff. Staff also received a small one off unconsolidated COVID Recognition payment.
4.25 During the year the Group Organisational Development Committee approved a number of new and revised human resources policies including Home Working Policy, Bullying and Harassment and Whistleblowing.

EQUALITY AND DIVERSITY

4.26 YOU is committed to diversity and inclusion in recruitment, hiring, employment, and in the work that we carry out. During the year an Anti-Racism Group was formed for the purpose of learning together, encouraging conversation, and ultimately feeding back suggestions and experiences to inform the YOU’s ongoing growth as an organisation.
4.27 The trustees commissioned a special internal report for its October 2020 meeting on black and ethnic minority inclusion across YOU and My Learning Cloud as it related to both staff and beneficiaries. Anne Ridley, trustee, was appointed as the Equality and Diversity Champion on the Board and a member of the Anti-Racism Group. Objectives for improvement as a result of the report were included in 2021/22 Business Plan which included improving the diversity of the Board through any future recruitment.

FUND-RAISING

4.28 The charity does not at this stage fundraise from the public or run legacy campaigns or undertake similar fundraising activities in its own right or via a third party. The trustees are though pleased to receive unsolicited gifts from supporters who support our work.
4.29 To help make Christmas a little brighter for YOU’s beneficiaries, individuals and businesses donated hampers and goods filled with both treats and essentials to individuals and families YOU supports. Our thanks go to everyone who donated at Christmas including Hampshire Business Computers,

Advantage Risk Solutions Limited, the trustees of Eathan’s Journey, the residents of Wickham Court Fareham, Waitrose and Partners and Fareham Meon Rotary Club.

4.30 The trustees would also like to thank to all those who chose to donate funds and goods to the charity during the year. These included:
Dr Sue Jones
Friends of Byways, Odiham.
HALFF, Axminster.
Isle of Wight Children’s Services.
Morrisons Ltd, Weymouth
Portsmouth Cultural Trust
Heidi McLean.
Domino’s UK Pizza Ltd.
Garrison Technology
Stephanie Churchill
Southern Housing Group, Isle of Wight.

MY LEARNING CLOUD

4.31 During the year My Learning Cloud was recognised by Skills for Care as a Centre of Excellence for Learning and Development in Adult Social Care in England. The company extended its reach to the Republic of Ireland and launched a new learning management system “Lumis Essentials”. During the COVID response 69,300 completions of e learning and 63,008 hours of learning were undertaken through the Skills for Care Rapid Induction Grant. It successfully achieved both ISO:9001 and ISO:27001 accreditations
5.0 FINANCIAL REVIEW
5.1 The final results for the year showed a net surplus on unrestricted funds of £729k which was an increase of £370k versus the surplus of £359k in the previous year.
5.2 The majority of the income is still derived from care and support with minimal contributions from donations and other sources.
5.3 The majority of income arises from grants/contracts (paid by Hampshire CC/Portsmouth CC/Dorset CC). Other income sources are domiciliary care charges, registered care charges and rent from service users under managing agent’s agreements with Registered Providers.

5.4 The YOU Trust funding towards the SHPS pension deficit was £317k (2020: £309k) in the year. Shortfalls on the deficit reduction payments have been secured against property (included within Freehold Land & Buildings) to the value of £562,434 (2020: £562,434) by way of a fixed and floating charge.

RESERVES POLICY

5.5 The Reserves Policy was reviewed in 2020 and a target of £1,000,000 free reserves was agreed being the value of unrestricted reserves, before deducting the pension reserve, less fixed assets. Considering its current working capital arrangements, the Board felt that this was an acceptable level to operate within YOU on a day to day level and meet its obligations. Any additional free reserves would be used to further the Trust’s aims and objectives. The actual free reserves figure will rise as operating surpluses are made and fall as assets are purchased.
5.6 At the year end the free reserves of the charity were £1,874,000. In light of the pension deficit, the Trustees do not consider the reserves to be excessive.

INVESTMENT POLICY

5.7 The levels of unrestricted reserves are not significant enough to consider a wide range of investments. The bank account is an interest-bearing account and surplus monies to immediate operating needs are placed on the money market to earn additional interest.

PLANS FOR THE FUTURE

5.8 The trustees have reviewed their strategic goals against purpose against mission and resolved that for 21/22 these continue to be:
To address inequalities and hardships we see in society by drawing on our depth of expertise and knowledge, developing centres of excellence.
To always design what we do with people listening to what matters to them.
For our values and culture to be an underpinning strength to our work and achievement of our mission.
For YOU to become a household name in the communities in which it works so that people know how we can help them and how they can support the work we do.

To be an employer of choice, rewarding staff with market median terms and conditions with excellent learning opportunities and career development.
To achieve a portfolio of contracted, community and commercial services through which we build our financial reserves to mitigate risk in the future.
My Learning Cloud to grow in profit to deliver sufficient gift aid to the charity to support the ongoing work of the charity.
5.9 The strategy for the year 2021/22 will be dominated by two factors, both external in their making. The first is the long term impact of COVID and recovery and the need to still manage the risk this presents for as long as necessary. The second is a large number of tenders of YOU’s current work due to natural contract end dates being previously extended and now requiring reprocurement, post pandemic, by local authorities.
5.10 The results of these tenders will shape YOU for many years to come and trustees have resolved that in this year the charity must focus on maintaining the long term financial security of YOU, the depth and breadth of its work, its values and culture. During the year the Board of YOU will focus on building the future strategy of the charity taking into account the results of these competitions, the long term impact of COVID on people and communities and how YOU can creatively empower people to thrive for the future.
5.11 This strategic report was approved by the Board of YOU at its meeting on 14 July 2021.
6.0 REFERENCE AND ADMINISTRATIVE INFORMATION
6.1 Registered Charity Name: The YOU Trust (known as YOU on an operating basis)

Charity Number: 291489

Company Number: 1898188

Registered Office: South Wing, Admiral House, 43 High Street, Fareham, Hampshire, PO16 7BQ

Advisers:

Auditors: Jones Avens, 4 Dukes Court, Bognor Road, Chichester, PO19 8FX Bankers: Lloyds TSB Bank plc. John's Centre, Hedge End, Southampton, Hampshire, SO30 4QU

Patrons: Lord Knight of Weymouth (resigned December 2020)

Bishop Christopher Foster of Portsmouth (retired March 2021)

Lord Judd of Portsea (deceased March 2021)

6.2 The trustees would like to give thanks to our patrons for their continued support throughout the year.

TRUSTEES AND DIRECTORS

6.3 The trustees and officers serving during the year and since the year-end were as below.

Directors and trustees:

Tessa Short, Life President

John Rowlinson (resigned March 2021)
Penny Rowlinson, Chair of Quality Assurance Committee (To November 2021)
Steve Pitt, Chair
Graeme Quar (resigned December 2021)
Ann Ridley, Chair of Group Organisational Development Committee (resigned December 2020)
James Fullarton, Treasurer and Chair of Finance and Commercial Committee
Sara Langston, Chair of Organisational Development Committee (From November 2021)
Nicholas Fennemore, Vice-Chair and Chair of Organisational Development Committee (from January 2021 to October 2021), (Resigned October 2021)
Derek Marshall
Jonathan Crutchfield
Christopher Wynn (resigned September 2021)
Trudy Mansfield
Caroline Sharman, Chair of Quality Assurance Committee (From November 2021)
Anne Ridley
Helen Andrews (appointed September 2020)
Robyn Allen (appointed August 2021)
Emma Giles (appointed August 2021)
Matthew Haynes (appointed August 2021)
Claire Hughes (appointed August 2021)

Saif Mohammad (appointed August 2021) Marcia Nguyen (appointed August 2021)

6.4 The directors of the company are also charity trustees for the purposes of charity law and under the Company's Articles are known as trustees and collectively as 'The YOU Group Board’.

EXECUTIVE LEADERSHIP TEAM

6.5 Senior staff to whom leadership of YOU and My Learning Cloud is delegated:

Group Chief Executive Nicola Youern Group Director of Finance Paul Taylor-Toms Group Director of People and Learning Jane Cracknell

YOU MANAGEMENT TEAM

6.6 Senior staff to whom the day to day leadership of YOU is delegated:
Group Chief Executive Nicola Youern Group Director of Finance Paul Taylor-Toms Group Director of People and Learning Jane Cracknell Quality and Operations Director Alison Cordwell Quality and Operations Director Tonia Redvers Group Head of IT Nigel Groves

MY LEARNING CLOUD LTD.

6.7 The senior staff of My Learning Cloud Ltd:

Chief Cloud Steven Embleton

7.0 STRUCTURE GOVERNANCE AND MANAGEMENT

7.1 The YOU Trust is a charitable company limited by guarantee, first incorporated on 21 March 1985 (The Portsmouth Housing Trust) and registered as a charity on 10 April 1985. The company was established under its Memorandum and Articles of Association, which were amended in 1998 (becoming The Southern Focus Trust) and further amended in 2001, 2003, and 2008 (becoming The YOU Trust) and in 2010. Amendments approved in 2010 led to The Articles of Association replacing the Memorandum and Articles of Association in accordance with the Companies Act 2006. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

GENERAL MEETINGS OF THE COMPANY

7.2 One General Meeting was held during the year. This was the Annual General Meeting (AGM), held on 14 October 2020.

RECRUITMENT AND APPOINTMENT OF TRUSTEES

7.3 Under the requirements of the Articles of Association, the members of the Board of Trustees are elected to serve until required to retire by rotation. Those who retire under rotation are those who have been longest in office since their last appointment or reappointment. At each AGM, one quarter of the Trustees are subject to retirement by rotation or, if their number is not four or a multiple of four, the number nearest to one quarter shall retire from office.
7.4 The Board of Trustees may appoint Trustees between General Meetings, pending full appointment at a General Meeting. The Board of Trustees’ operate a selection procedure when considering new Trustees for appointment in order to ensure a balanced, skilled, committed and representative board. During the year two Trustees resigned: Ann Ridley and John Rowlinson. One new Trustee, Helen Andrews was appointed.

TRUSTEE RECRUITMENT INDUCTION, LEARNING AND DEVELOPMENT

7.5 Trustees are recruited upon reviews of numbers, diversity and skills by the Trust Executive Committee for decision by the Board. Successful recruitment takes place by social media, open advertising and by interested parties approaching the charity. All applicants complete a recruitment process, are interviewed and subject to references and DBS clearance. When recruited, all Trustees sign a copy of the Trustee Code of Conduct and the Trustee Role Profile to signify their agreement to follow the terms within both documents. One Trustee was recruited during the year.
7.6 YOU is passionate about development and encourages everyone to be lifelong learners, in order that they continually possess the right skills for their role. It is important that all Trustees have the skills and knowledge to perform their role on the Board. This learning starts with the comprehensive induction for all Trustees that is carried out in the first six months after appointment. After this time it is important that Trustees maintain their learning for good governance and to keep pace with the ever evolving world surrounding our work.
7.7 New trustees undergo a structured induction with support from an experienced buddy on the Board. The induction includes formal training, meetings with key staff and Board members, visits to our work and a planned reading programme.

7.8 In September 2020 the Group Organisational Development Committee approved a new training programme for the trustees. During the year the Trustees participated in training including Adult and Young People’s safeguarding, Undertaking Visits to YOU’s work and Co-Production.

ORGANISATIONAL STRUCTURE (TRUST BOARD AND EXECUTIVE LEADERSHIP TEAM)

7.9 The Trust Board had not less than 12 members during the year. There is no prescribed maximum or fixed number of trustee places on the Trust Board. Throughout the year, there were sufficient Trustees to ensure an effective range of strength and functioning in each committee.
7.10 The Trust Board sets its own Terms of Reference and Delegation Framework and holds overall responsibility for the strategic and business direction of YOU. It is supported by four committees (supported by Executive Leadership Team attendance) and sets the Terms of Reference for each. The Trust Board has the authority to establish a Working Party to focus on particular issues with terms of reference and reporting structure determined by the Board.
7.11 The Board has established a Property Working Party to deal with ad hoc property matters. Its minutes are reviewed by the Finance and Commercial Committee and its terms of reference were reviewed and amended by the Board during the year.
7.12 The general function and purpose of each committee is to deal in detail on matters that fall within its delegated remit and review and manage risk associated with their terms of reference. They also produce recommendations for the Trust Board, take decisions within delegated limits on behalf of the Trust Board and provide a written minute to the Trust Board on business conducted.
7.13 The Quality Assurance Committee focuses on the quality of YOU’s work with its beneficiaries, safeguarding, performance reporting and reviewing the outcome of trustee visits to YOU’s work.
7.14 The Group Organisational Development Committee deals with human resource policy; learning, development and workforce skills; employment law and recruitment matters. It also focuses on organisational culture and values, develops the annual Trustees experience audit and sets the action plan for improvement for approval by the Trust Board.
7.15 The Group Finance and Commercial Committee reviews financial policy and performance, decides on the annual budget, annual audited accounts, reviews

management accounts and cash flow; financial and legal risk; insurance and capital and asset strategy.

7.16 The Trust Executive Committee comprises of the Trust Chair, Vice Chair and Chairs of each committee. It plans the work of the next cycle of Trust Board and Committee meetings, forms the interview panel for the recruitment of new Trustees and deals with detailed matters of governance review and good practice.
7.17 The Remuneration Committee meets on an ad-hoc basis to determine the salary and terms and conditions of the Group Chief Executive, Group Director of Finance and Group Director of People and Learning. It is the policy of this committee to follow the pay policy for the organisation in terms of annual salary awards. In setting salaries for any new incumbents bench marking against the charity market rate is used.
7.18 The Board and its committees meet five times a year, with the Chair and Vice Chair being voting members should they wish at each Committee. The Executive Leadership Team do not have voting rights, but some or all attend the meetings.
7.19 During the year the Board resolved to appoint from amongst its number Champions for specific areas of the charity’s work which were of importance to strategy and governance. The general role of a Champion was resolved to:
Provide high level Board leadership on the theme
Promote and raise the profile of the theme with the Board.
Be an advocate for the implementation of best practice in that area. Support the Senior Management Team in the review of policies and procedures in that area.
Wherever possible, and appropriate, to attend relevant meetings and external events in order to champion the work area in YOU. Where appropriate this could include chairing or speaking at the event or delivering training to Board members.
Consider the issues surrounding the theme when decisions on matters are presented to the Board
Review reports on the theme with the Senior Management Team prior to submission to the Board
Work with people YOU works with to understand what matters to them about the theme through planned visits.

The Champions appointed were:

Trudy Mansfield- Safeguarding

Anne Ridley- Equality and Diversity

Jonathan Crutchfield- Social Prescribing and Environmental Matters Sara Langston- Marketing and Environmental Matters Caroline Sharman- the Arts and Marketing Nick Fennemore- Mental Health Helen Andrews- Portsmouth Champion.

THE SENIOR MANAGEMENT STRUCTURE

7.20 A Group Chief Executive is appointed by the Trustees to manage the day to day operations of the charity. To facilitate effective operations the Executive Leadership Team have delegated authority, within terms of delegation approved by the trustees for operational matters including finance, employment, work with beneficiaries and oversight of the subsidiary company.
7.21 Group Executive Leadership Team

Nicola Youern Group Chief Executive Paul Taylor-Toms Group Director of Finance Jane Cracknell Group Director of People and Learning YOU Management Team Tonia Redvers Quality and Operations Director, YOU Alison Cordwell Quality and Operations Director, YOU Nigel Groves Group Head of IT

PAY POLICY FOR SENIOR STAFF

7.22 The directors that consider the board of directors, who are the Trust’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All directors give their time freely and no director received remuneration during the year.

The pay of the Executive Leadership Team is reviewed annually by the Remuneration Committee within the pay envelope set by the Board. Pay, terms, and conditions of all employees is negotiated with the recognised trade union: UNISON. During the year the Committee met once and approved a 1% pay award for these postholders in line with all other staff in the charity.

RISK MANAGEMENT

7.23 The trustees have a risk management strategy which comprises:

an annual review of the principal risks and uncertainties that the charity faces. The Board of My Learning Cloud undertakes its own annual review which is reported to the board of trustees. During the year the methodology for the identification and assessment of risk was updated to ensure it met the guidance issued by the Charity Commission. The risk register is reviewed at every Board and Committee meeting throughout the year.
the establishment of policies, systems and procedures to mitigate those risks identified in the annual reviews; and
the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
7.24 The safety of staff and beneficiaries due to COVID became the principal risk faced during 2020/21 which was managed through effective infection control, safe working practices, early vaccination and excellent communication and health and wellbeing support. The greatest risk was within YOU’s residential care homes and no resident fell ill with the virus due to these measures.
7.25 The other principal risks faced by the charity included:
Loss of contracts in 2021/22 following retendering processes negatively impacting on the charity’s finances. Management was through releasing staff to form a dedicated skilled tender team together.

Increasing pension deficit contributions due to a forthcoming actuarial valuation and the inability of the charity to meet these costs. This is managed through gift aid contributions from the trading subsidiary and the ability to secure concessions if required secured against property. The Group Finance and Commercial Committee monitor this through monthly management accounts and forecasts

DELEGATION OF AUTHORITY

7.26 The Board of Trustees have agreed to delegate their authority through a number of internal mechanisms, including:
7.27 Trust Board Terms of Reference that sets out the powers, decisions it retains, and those delegated to Committees, which are reviewed annually;
7.28 The Trust Board approves Terms of Reference for Committees which set out their remit and scope, receives minutes; approves decisions reserved for it;
7.29 A scheme of delegation is in place and was reviewed by the Board during the year. This sets out the respective roles and responsibilities of Trustees and

paid officers; defines responsibility/accountability points within the structure for decision making and actions to be undertaken.

7.30 YOU Policies (approved at either Trust Board or Committee level) deal with a wide range of legal compliance / operational matters and set out responsibilities and duties;
7.31 The Procurement Policy sets out financial authority limits (approvals and expenditure) and is approved by the Group Finance and Commercial Committee.

RELATED PARTIES AND COOPERATION WITH OTHER ORGANISATIONS

7.32 None of our trustees receives remuneration. Any connection between a trustee or Executive Leadership team member with any related third party must be disclosed to the full board of trustees. In the current year, no such related party transactions were reported.
7.33 The charity’s wholly owned subsidiary My Learning Cloud Ltd was established to provide excellence in learning management and e learning across the health, housing and care sectors. Each year My Learning Cloud gift aids the majority of its profits to the charity. The Board of Directors are appointed and removed by the charity trustees. The charity Board receives performance reports from the subsidiary Board of Directors at each meeting and the Group Organisational Development Committee and the Group Finance and Commercial Committee have widened their terms of reference to include the scrutiny of the subsidiary company performance.

STAFF AND VOLUNTEERS WITH DISABILITIES

7.34 The YOU Trust is an equal opportunities employer, Disability Confident since October 2017. As part of its open and transparent Recruitment Policy and procedure, the charity displays the Disability Confident logo on all job advertisements and references being a Disability Confident Employer on social media pages to actively encourage applications from people with disabilities. All job vacancies are advertised on a number of recruitment sites and are available in a number of formats. In addition, the charity provides a named contact so applicants can call to directly discuss any support they may require throughout the recruitment process. The YOU Trust offers a variety of flexible options to best meet the requirements of the candidate and reasonable adjustments are offered from the point of being invited along to interview, so the candidate can best demonstrate their full ability, and onwards into their employment as required, based on information shared by the applicant or staff

member upon joining the organisation and throughout their time with YOU. YOU also engages with its own in-house ‘Into Work’ disability service for guidance and further support of disabled persons as needed and offer assistance with applying to the Access to Work scheme for eligible recruits. 32 staff/workers/volunteers were recorded as disabled.

7.35 YOU conducts bi-annual staff well-being and engagement surveys in which staff are asked if they consider themselves to have a disability and whether they have experienced any barriers as a result. The results are reviewed by trustees of the charity and actions agreed as appropriate. In this year a Learning and Development Survey was also conducted to again explore any barriers. YOU provides recruitment training for all managers, which includes training in supporting applicants with disabilities, as well as coaching training and the charity has a comprehensive induction programme in place for all new starters that includes buddying with existing staff. Dedicated Employee Wellbeing Champions offer support, together with a free and confidential EAP service, and YOU accesses the input of Occupational Health providers to seek advice on support the charity can implement for those with a disability or longterm health condition.

SERIOUS INCIDENT REPORTING

7.36 Between 1 April 2020 and 31 March 2021, there were no Serious Incident Reports or other matters that trustees should have reported to the Charity Commission but have not done so.
8.0 TRUSTEES’ RESPONSIBILITY STATEMENT
8.1 The Trustees (who are also directors of The YOU Trust for the purposes of company law) are responsible for preparing the Trustees’ annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
8.2 Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;

observe the methods and principles in the Charity SORP 2019 (FRS 102);
make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
8.3 The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
9.0 DICSLOSURE OF INFORMATION TO AUDITORS
9.1 In so far as the trustees are aware:
there is no relevant audit information of which the charitable company’s auditor is unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

By order of the board of trustees

S J Pitt (Chair)

26[th] January 2022

Report of the Independent Auditors to the Members of

The YOU Trust

Opinion

We have audited the financial statements of The YOU Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2021 which comprise the group statement of financial activities, the group and charity balance sheet, the group and charity statement of cash flows and the notes to the financial statements, including a summary of 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:

give a true and fair view of the state of the group and parent charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the accounts 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 group’s or 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.

Report of the Independent Auditors to the Members of

The YOU Trust

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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:

the information given in the trustees' Report, which includes the directors’ report and strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report and strategic report included within the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company 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:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.

Report of the Independent Auditors to the Members of

The YOU Trust

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the parent charitable company or 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 group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent 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.

Identification and assessment of irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures were capable of detecting irregularities, including fraud is detailed below:

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and charity, including The Companies Act 2006 and The Charities Act 2011;

• we obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework by making appropriate enquiries of management as well as considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

we made enquiries of those charged with governance and management concerning:
the risks of fraud;

• instances of non-compliance with laws and regulations or knowledge of actual, suspected, or alleged fraud is documented during the period;

Report of the Independent Auditors to the Members of

The YOU Trust

• we allocated an engagement team that we considered collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

Audit response to the risk of irregularities including fraud

Based on the results of our risk assessment, our procedures included, but were not limited to:

performing analytical procedures to identify any unusual or unexpected relationships.

• evaluating whether the selection and application of accounting policies by the entity that may be indicative of fraudulent financial reporting resulting from management’s effort to manage results.

assessing whether judgements and assumptions made in determining the accounting estimates set out in note 1j were indicative of potential bias.
agreeing financial statement disclosures to underlying supporting documentation.
reading the minutes of meetings of those charged with governance.
reviewing the correspondence with relevant regulatory bodies.
testing of journal entries to address the risk of fraud through management override.

• incorporating an element of unpredictability in the selection of the nature, timing, and extent of our audit procedures.

Conclusions regarding the risks of irregularities including fraud

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.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

We considered our audit was capable of detecting irregularities due to:

the effectiveness of the entity’s internal controls;
the nature, timing and extent of audit procedures performed; and the absence of contradictory evidence.

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.

Report of the Independent Auditors to the Members of

The YOU Trust

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.

Claire Norwood BSc FCA ATII (Senior Statutory Auditor)

26/01/2022 for and on behalf of Jones Avens Limited ......................... Chartered Accountants Statutory Auditor Piper House 4 Dukes Court Bognor Road Chichester West Sussex PO19 8FX

Jones Avens Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006

The YOU Trust

Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 March 2021

		Unrestricted	Restricted	Total	Total
		funds	funds	2021	2020
		£'000	£'000	£'000	£'000
	Notes
Income from
Donations and legacies	4	-	60	60	19
Charitable activities
Care and Support	5	9,435	1,551	10,986	9,802
Other trading activities
Commercial trading operations	6	1,428	-	1,428	1,036
Investment income	7	13	-	13	8 8
Other income		1	-	1	5
Total		10,877	1,611	12,488	10,870
Expenditure on
Raising funds
Commercial trading operations	6	974	-	974	854
Charitable activities
Care and Support	8	9,174	1,441	10,615	9,927
Total		10,148	1,441	11,589	10,781
Net (expenditure)/income		729	170	899	89
Actuarial gains/(losses) on	20	(1,827)	-	(1,827)	1,900
defined benefit schemes
Net movement in funds	21	(1,098)	170	(928)	1,989
Reconciliation of funds
Total funds brought forward		1,105	1,255	2,360	371
Total funds carried forward		7	1,425	1,432	2,360

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended are derived from continuing activities.

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

The YOU Trust Balance Sheet

For the Year Ended 31 March 2021

Notes Fixed assets Tangible assets 16 Investments 17 Current assets Debtors 18 Cash at bank and in hand Creditors Amounts falling due within one year 19 Net current assets Total assets less current liabilities Provisions for liabilities 20 Net assets Funds Unrestricted income funds 21 Pension reserve General unrestricted funds Restricted income funds 21 Total funds	Group 2021 £'000 1,531 - 1,531 2,993 3,667 6,660 (3,379) 3,281 4,812 (3,380) 1,432 3,387 (3,380) 7 1,425 1,432	Group 2020 £'000 1,514 - 1,514 2,831 2,527 5,358 (2,681) 2,677 4,191 (1,831) 2,360 2,936 (1,831) 1,105 1,255 2,360		Charity 2021 £'000 1,503 10 1,513 3,056 2,710 5,766 (2,467) 3,299 4,812 (3,380) 1,432 3,387 (3,380) 7 1,425 1,432	Charity 2020 £'000 1,501 10 1,511
					2,753 1,833
					4,586 (1,906)
					2,680
					4,191 (1,831)
					2,360
					2,936 (1,831) 1,105 1,255



					6 2,360

The financial statements were approved by the Board of Trustees on 26[th] January 2022 and were signed on its behalf by:

........................................ Trustee – Steve Pitt The You Trust, registered in England no. 1898188

The YOU Trust

Statement of Cash Flows and Consolidated Cash Flows For the Year Ended 31 March 2021

Notes Cash flows from operating activities Cash generated from operations 24 Pension interest charge Net cash provided by (used in) operating activities Cash flows from investing activities Interest income Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Total cash at the end of the year	Group 2021 £'000 1,317 (39) 1,278 13 (151) - (138) 1,140 2,527 3,667	Group 2020 £'000 619 (90) 529 8 (65) 4 (53) 476 2,051 2,527	Charity 2021 £'000 1,029 (39)	Charity 2020 £'000 610 (90)
			990	520
			13 (126) - (113) 877 1,833 2,710	8 (48) 4
				(36)
				484 1,349 1,833

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

1 Accounting Policies

a) Basis of preparation

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2018) - (Charities SORP (FRS102)), and the Companies Act 2006.

The You Trust meets the definition of a public benefit entity under FRS102. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. These financial statements are presented in Sterling, the currency of the primary economic environment in which the Group operates, in round thousands.

The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

b) Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary My Learning Cloud Limited on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executors to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Income received in advanced is deferred until the criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

e) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust's work.

f) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise the costs of commercial trading and their associated support

Expenditure on charitable activities includes activities undertaken to further the purposes of the charity and their associated support costs.

Other expenditure represents those items not falling into any other heading.

g) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Trusts programmes and activities. These costs have been allocated across expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 9.

h) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

i) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In preparing these financial statements, the directors have made the following judgements:

Determine whether leases entered into by the group either as a lessor or a lessee are operating or lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
Determine whether there are indicators of impairment of the group’s tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Pension Scheme deficit payments – The Charity participates in a multiemployer pension scheme which is in deficit. Provision has been made for the deficit contributions payable and the board have relied upon the information received from the Pensions Trust.

Key Sources of Estimation Uncertainty

Multi employer defined benefit pension scheme

See Note 20 for details of estimates and assumptions regarding the pension scheme.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

j) Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold Property Straight line over 50 years and 10 years Long Leasehold property Straight line over 10 years Short Leasehold property Straight line over the life of the lease Fixtures, fittings and equipment Assets held in service properties Straight line over 3 years Assets held in offices Straight line over 5 years Short term improvements to Straight line over 10 years property Motor Vehicles Straight line over 5 years

k) Goodwill

Purchased goodwill is capitalised at cost and amortised over its estimated useful economic life on a straight line basis over 5 years.

l) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity from the date of opening of the deposit or similar account.

n) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably.

o) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

p) Pensions

Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

q) Redundancy and termination payments

Redundancy costs arising from project reviews of staff levels are charged in the year in which employees leave the group.

r) Retirement benefits

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

Payments are also made to two multi-employer defined benefit schemes.

For the Social Housing Pension Scheme (SHPS) the cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

For the Social Housing Growth Scheme (GS), due to the nature of the scheme, it is not possible to identify on a reasonable and consistent basis the share of the underlying assets and liabilities. Therefore, the scheme is accounted for as a defined contribution scheme.

2 Legal status of the Trust
The company is limited by guarantee and does not have a share capital and is a private company registered in England and Wales. All Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
3 Financial Performance of the charity
The consolidated statement of financial activities includes the results of the charity's wholly owned subsidiary My Learning Cloud Limited.

The summary financial performance of the charity alone is:

Income Gift aid from subsidiary company Expenditure on charitable activities Net (expenditure)/income Actuarial gains/(losses) on defined benefit pension schemes Net movement in funds for the year Total funds brought forward Total funds carried forward Represented by: Restricted income funds Unrestricted income funds Pension reserve	2021 £'000 11,060 454 11,514 10,604 899 (1,827) (928) 2,360 1,432 1,425 3,387 (3,380) 1,432	2020 £'000 9,834 182 10,016 9,927 89 1,900 1,989 371
		2,360
		1,255 2,936 (1,831) 2,360

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

4 Donations and legacies

Donations and legacies
Small gifts and donations Legacies	2021 £'000 60 - 60	2020 £'000 19 -
		19

The trust benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS102 and the Charities SORP (FRS102), the economic contribution of general volunteers is not recognised in the accounts.

5 Charitable Activities

Charitable Activities
Unrestricted Restricted funds funds 2021 2021 £'000 £'000 Grants receivable for charitable activities - 1,611 Fees and charges 9,435 - 9,435 1,611	Total Funds 2021 £'000 1,611 9,435 11,046	Total Funds 2020 £'000 550 9,252
		9,802

6 Other trading activities

The wholly owned trading subsidiary My Learning Cloud Limited is incorporated in the United Kingdom (company number 08191627). The summary financial performance of the subsidiary alone is:

f the subsidiary alone is:
Turnover Cost of sales and administration costs Corporation tax credit/(charge) Net profit Amount gift aided to the charity Retained in subsidiary The assets and liabilities of the subsidiary were: Fixed Assets Current assets Current liabilities Total net assets Aggregate share capital and reserves	2021 £'000 1,428 (974) - 454 (454) - 28 1,416 (1,434) 10 10	2020 £'000 1,036 (854) - 182 (182)
		-
		13 1,009 (1,012)
		10
		10

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

7 Investment income Interest received	2021 £'000 13 13	2020 £'000 8
		8

All investment income is derived from money held in interest bearing deposit accounts

The YOU Trust

Notes to the Financial Statements For the Year Ended 31 March 2021

8 Charitable Activities Advice & Health and Homeless- Domestic Counselling Recovery ness Violence Disabilities £'000 £'000 £'000 £'000 £'000 Salary and associated costs 718 651 539 1,836 3,844 Rent - 87 - 111 47 Other property costs 68 61 68 99 163 Depreciation - 7 - 2 18 Other costs 61 54 19 67 49 Support costs (see note 9) 135 137 100 337 658 Governance costs (see note 9) 1 1 1 3 5 983 998 727 2,455 4,784	Young People £'000 426 100 42 - 7 92 1	Total 2021 £'000 8,014 345 501 27 257 1,459 12 10,615	Total 2020 £'000 7,394 381 339 31 222 1,547 13 9,927
	668

Expenditure on charitable activities was £10,615,000 (2020: £9,927,000) of which £9,174,000 was unrestricted (2020: £9,088,000) and £1,441,000 was restricted (2020: £839,000).

9 Support Costs

General Governance Support function £'000 £'000 Salary and associated costs 987 - Rent 54 - Other property costs 82 - Depreciation 76 - Legal and professional fees 47 - Other costs 213 12 1,459 12	Total £'000 Basis of apportionment 987 Time 54 Time 82 Time 76 Time 47 Time 225 Time 1,471

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

10 Net income/(expenditure) for the year - Group

	2021	2020
This is stated after charging:	£'000	£'000
Operating leases - land and buildings	175	187
Operating leases - other and motor vehicles	8	7
Depreciation	119	103
(Loss)/Profit on disposal of fixed assets	(15)	4
Auditors' remuneration - audit services	18	25
Auditors' remuneration - non-audit services	2	2

11 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Salaries and wages Social security costs Pension costs Redundancy costs	2021 £'000 7,508 626 323 20 8,477	2020 £'000 7,213 584 295 18
		8,110

The number of employees whose annual emoluments were £60,000 or more were:

ere:
		2021	2020
		Number	Number
£60,000	to £69,999	1	1
£80,000	to £89,999	1	1

The charity trustees were not paid or received any other benefits from employment with the Trust or its subsidiary in the year (2020: £nil). Nil (2020: 3) trustees were reimbursed expenses for charitable purposes during the year of £nil (2020: £1,266). A further £472 (2020: £1,304) was spent on Trustee Meetings during the year. No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

The key management personnel of the parent charity, the Trust, comprise the trustees, the Chief Executive Officer, the Director of Finance and the Director of People and Learning. The total employee benefits of the key management personnel of the Trust were £219k (2020: £208k)

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

12 Staff Numbers

The average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:

Management and administration Direct and support staff	2021 Number 36 256 292	2020 Number 36 241
		277

13 Government Grants

Income from government grants during the year was £446k (2020: £nil). See note 5 for more information and to the amount and source of these grants.

14 Corporation Tax

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.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

15 Comparatives for the statement of financial activities

	Unrestricted	Unrestricted	Restricted	Total
	funds		funds	Funds
	£'000		£'000	£'000
Income from
Donations and legacies		-	19	19
Charitable activities
Care and Support		9,252	550	9,802
Other trading activities
Commercial trading operations		1,036	-	1,036
Investment income		8	-	8
Other income		5	-	5
Total	10,301		569	10,870
Expenditure on
Raising funds
Commercial trading operations		854	-	854
Charitable activities
Care and Support		9,088	839	9,927
Total		9,942	839	10,781
Net (expenditure)/income		359	(270)	89
Actuarial (losses)/gains on defined benefit		1,900	-	1,900
pension schemes
Net movement in funds for the year		2,259	(270)	1,989
Reconciliation of funds
Total funds brought forward	(1,154)		1,525	371
Total funds carried forward		1,105	1,255	2,360

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

16 Tangible fixed assets – Group

Land & buildings freehold £’000 Land & buildings short L/hold £’000 Land & buildings long L/hold £’000 Fixtures fittings & equipment £’000 Motor vehicles £’000 Cost At 1 April 2020 1,820 215 79 393 22 Additions - - - 151 - Disposals ~~-~~ ~~(29)~~ ~~-~~ - ~~-~~ At 31 March 2021 1,820 186 79 544 22 Depreciation At 1 April 2020 488 190 22 289 22 Charge for year 44 8 2 65 - On disposals - (14) - - - At 31 March 2021 532 184 24 354 22 Net book value At 31 March 2021 1,288 2 55 190 - At 31 March 2020 1,332 25 57 100 -	Total £’000 2,529 151 ~~(29)~~
	2,651
	1,015 119 (14)
	1,120
	1,531
	1,514

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

16 Tangible fixed assets

Tangible fixed assets – Charity

Land & buildings freehold £’000 Land & buildings short L/hold £’000 Land & buildings long L/hold £’000 Fixtures fittings & equipment £’000 Motor vehicles £’000 Cost At 1 April 2020 1,820 215 79 376 22 Additions - - - 126 - Disposals ~~-~~ ~~(29)~~ ~~-~~ - ~~-~~ At 31 March 2021 1,820 186 79 502 22 Depreciation At 1 April 2020 488 190 22 289 22 Charge for year 44 8 2 55 - On disposals - (14) - - - At 31 March 2021 532 184 24 344 22 Net book value At 31 March 2021 1,288 2 55 158 - At 31 March 2020 1,332 25 57 87 -	Total £’000 2,512 126 ~~(29)~~
	2,609
	1,011 109 (14)
	1,106
	1,503
	1,501

Included within freehold land and buildings is land with a value of £475,660 (2020:£475,660) which is not depreciated.

Included within Fixtures, fittings and equipment are restricted fixed assets with a value of £10,142 (2020: £18,974).

17 Investments

The charity holds 10,000 shares of £1 each in its wholly owned trading subsidiary My Learning Cloud Ltd (registered no. 8191627). These are the only shares allotted, called up and fully paid. The activities and results of this company is summarised in note 6.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

18 Debtors

8 Debtors
Trade Debtors Other Debtors Prepayments and accrued income Amount due from subsidiary undertaking 9 Creditors Trade Creditors Other Creditors and Accruals Deferred Income Taxation and social security costs	Group 2021 £’000 Group 2020 £’000 1,247 1,327 88 53 1,658 1,451 - - 2,993 2,831 Group 2021 £’000 Group 2020 £’000 286 220 343 337 2,483 1,919 267 205 3,379 2,681	Charity 2021 £’000 830 88 1,617 521 3,056	Charity 2020 £’000 1.042 53 1,421 237 2,753 Charity 2020 £’000 181 328 1,268 129 1,906	Charity 2020 £’000 1.042 53 1,421 237 2,753

		Charity 2021 £’000 278 332 1,690 167 2,467

19 Creditors

Deferred Income

Deferred income relates to funding received from various funders that are for a future accounting period

for a future accounting period
	Group	Group	Charity	Charity
	2021	2020	2021	2020
	£’000	£’000	£’000	£’000
Brought forward	1,919	1,286	1,268	754
Amount released to incoming	(1,919)	(1,286)	(1,268)	(754)
resources
Amount deferred in year	2,483	1,919	1,690	1,268
Carried Forward	2,483	1,919	1,690	1,268

20 Provisions for liabilities

0 Provisions for liabilities
SHPS Growth Plan	2021 £’000 3,372 8 3,380	2020 £’000 1,821 10
		1,831

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Defined benefit pension schemes The You Trust – SHPS

The charity participates in the Social Housing Pension Scheme (the Scheme), a multi-employer scheme which provides benefits to some 500 non-associated employers. The Scheme is a defined benefit scheme in the UK.

The Scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The last triennial valuation of the scheme for funding purposes was carried out as at 30 September 2017. This valuation revealed a deficit of £1,522m. A Recovery Plan has been put in place with the aim of removing this deficit by 30 September 2026.

The Scheme is classified as a 'last-man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the Scheme. Participating employers are legally required to meet their share of the Scheme deficit on an annuity purchase basis on withdrawal from the Scheme. For financial years ending on or before 28 February 2019, it was not possible for the company to obtain sufficient information to enable it to account for the Scheme as a defined benefit scheme, therefore the company has accounted for the Scheme as a defined contribution scheme.

For financial years ending on or after 31 March 2019, it is possible to obtain sufficient information to enable the company to account for the Scheme as a defined benefit scheme.

For accounting purposes, a valuation of the scheme was carried out with an effective date of 30 September 2018. The liability figures from this valuation were rolled forward for accounting year-end 31 March 2019. The liabilities are compared, at the relevant accounting date, with the company’s fair share of the Scheme’s total assets to calculate the company’s net deficit or surplus.

Similarly, an actuarial valuation of the scheme was carried out as at 30 September 2019 to inform the liabilities for accounting year end 31 march 2021.

The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was £55,000 (2020 - £105,000).

The deficit on the scheme, representing the shortfall on the value of the scheme assets below the present value of the scheme liabilities, is recognised as a liability

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

on the balance sheet to the extent that the employer charity has a legal or constructive obligation for the liability. A corresponding pension reserve is included within total unrestricted funds.

The Charity pays a contribution to help support the deficit on the scheme. The total contribution was £314,820 (2020: £308,650) The cash contribution paid was £314,820 (2020: £308,650). Shortfalls on the deficit reduction payments have been secured against property (included within Freehold Land & Buildings) to the value of £562,434 (2020: £562,434) by way of a fixed and floating charge.

Further contributions are scheduled to continue in the subsequent accounting period.

Reconciliation of scheme assets and liabilities to assets and liabilities recognised The amounts recognised in the balance sheet are as follows:

The amounts recognised in the balance sheet are as	follows:
	2021 2020
	£ £
Fair value of plan assets	9,908,000 8,664,000
Present value of defined benefit obligation	(13,280,000) (10,485,000)
Defined benefit pension scheme deficit	(3,372,000) (1,821,000)

Defined benefit obligation

Changes in the defined benefit obligation are as follows:

Defined benefit obligation Changes in the defined benefit obligation are as follows:
	2021
	£
Present value at start of year	10,485,000
Expenses	16,000
Interest expense	245,000
Actuarial losses (gains)	2,730,000
Benefits paid and expenses	(196,000)
Present value at end of year	13,280,000

Fair value of scheme assets

Changes in the fair value of scheme assets are as follows:

Fair value of scheme assets Changes in the fair value of scheme assets are as follows:
	2021
	£
Fair value at start of year	8,664,000
Interest income	206,000
Return on plan assets, excluding amounts included in interest	903,000
income/(expense)
Employer contributions	331,000
Benefits paid and expenses	(196,000)
Fair value at end of year	9,908,000

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Amounts recognised in the Income and Expenditure Account

	2021 2020 16,000 16,000 39,000 89,000
Expenses
Net interest expense
	55,000 105,000

Amounts recognised as gains/(losses) in the Statement of Financial Activities

	2021 2020 903,000 183,000 ,730,000) 1,717,000
Experience on plan assets (excluding amounts recognised as interest cost) – gain/(loss)
Effects of changes in the financial assumptions – gain/(loss) (2
(1,827,000) 1,900,000

Analysis of assets

The major categories of scheme assets are as follows:

	2021 2020
Global Equity	1,579,000 1,267,000
Absolute Return	547,000 452,000
Distressed Opportunities	286,000 167,000
Credit Relative Value	312,000 238,000
Alternative Risk Premia	373,000 606,000
Fund of Hedge Funds	1,000 5,000
Emerging Markets Debt	400,000 262,000
Risk Sharing	361,000 292,000
Insurance-Linked Securities	238,000 266,000
Property	206,000 191,000
Infrastructure	661,000 645,000
Private Debt	236,000 175,000
Opportunistic Illiquid Credit	252,000 210,000
High Yield	297,000 -
Opportunistic Credit	272,000 -
Corporate Bond Fund	585,000 494,000
Liquid Credit	118,000 4,000
Long Lease Property	194,000 150,000
Secured Income	412,000 329,000
Liability Driven Investment	2,518,000 2,874,000
Net current Assets	60,000 37,000
Total Assets	9,908,000 8,664,000

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Principal actuarial assumptions

The principal actuarial assumptions at the balance sheet date are as follows:

	2021	2020
	%	%
Discount Rate	2.19	2.36
Inflation (RPI)	3.26	2.58
Inflation (CPI)	2.87	1.58
Salary Growth	3.87	2.58
Allowance for commutation of pension for cash at	75% of	75% of
retirement	maximum	maximum
	allowance	allowance

Post retirement mortality assumptions

Salary Growth 3.87 Allowance for commutation of pension for cash at retirement 75% of maximum allowance Post retirement mortality assumptions	2.58 75% of maximum allowance
	Life
	expectancy at
	age 65
	Years
Male retiring in 2021	21.6
Female retiring in 2021	23.5
Male retiring in 2041	22.9
Female retiring in 2041	25.1

Social Housing Growth Plan Scheme

The charity participates in the scheme, a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30[th] December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a ‘last man standing arrangement’. Therefore, the charity is potentially liable for other participating employers’ obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £795m, liabilities of £926m and a deficit of £131m.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Reconciliation of opening and closing provisions	Reconciliation of opening and closing provisions	31 March	31 March
		2021	2020
		£’000	£’000
Provision at start of period		10	12
Unwinding of the discount factor		-	-
Deficit contribution paid		(2)	(2)
Impact of change in assumptions and contribution		-	-
schedule
Provisions at end of period		8	10
Income and expenditure impact		31 March 2021	31 March
			2020
		£'000	£'000
Interest expense		-	-
Impact of change in assumptions and contribution		-	-
schedule
Assumptions	31 March 2021	31 March 2020	31 March
	% per annum	% per annum	2019
			% per annum
Rate of discount	0.66	2.53	1.39

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

21 Analysis of charitable funds

Analysis of movements in unrestricted funds

	Balance at			Other	Balance at
	1 April	Incoming	Resources	recognised	31 March
	2020	resources	expended	gains/losses	2021
	£’000	£’000	£’000	£’000	£’000
General fund	2,936	10,877	(10,426)	-	3,387
Pension	(1,831)	-	278	(1,827)	(3,380)
reserve
	1,105	10,877	(10,148)	(1,827)	7
	Balance at
	1 April			Other	Balance at
	2019	Incoming	Resources	recognised	31 March
	restated	resources	expended	gains/losses	2020
	£’000	£’000	£’000	£’000	£’000
General fund	2,798	10,301	(10,163)	-	2,936
Pension reserve	(3,952)	-	221	1,900	(1,831)
	(1,154)	10,301	(9,942)	1,900	1,105

The pension reserve is a reserve designated by the trustees to recognise the pensions deficit liability on defined benefit schemes.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Analysis of movements in restricted fund

	Balance				Balance
	at				at
	1 April	Incoming	Resources		31 March
	2020	resources	expended	Transfer	2021
	£’000	£’000	£’000	£’000	£’000
DV Welfare	83	274	176	-	181
Big Lottery	388	2	184	-	206
Children In Need	17	-	16	-	1
PCC	4	-	-	-	4
Community	466	14	156	-	324
DHSC	245	(176)	69	-	-
Access to Justice	52	4	56	-	-
Foundation
Government	-	449	403	-	46
NASP	-	50	8	-	42
Health & Wellbeing	-	635	46	-	589
SRASAC	-	352	320	-	32
	1,255	1,604	1,434	-	1,425

Name of restricted Description, nature and purposes of the fund fund DV Welfare To provide support for victims of Domestic Abuse Big Lottery Support and Counselling services Children in Need To support children affected by Domestic Abuse PCC To provide Advice services DHSC To provide Social Prescribing services Community Funds to combat loneliness and isolation in communities Access to Justice Government Funding in response to COVID-19 NASP To provide Social Prescribing services Health & Wellbeing To provide Health and Wellbeing services SRASAC To provide Rape and Counselling services

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Analysis of movements in restricted fund

	Balance
	at				Balance at
	1 April	Incoming	Resources		31 March
	2019	resources	expended	Revaluation	2020
	£’000	£’000	£’000	£’000	£’000
DV Welfare	251	19	187	-	83
Big Lottery	582	-	194	-	388
Children In Need	50	-	33	-	17
PCC	99	-	65	(30)	4
Community	153	521	208	-	466
DHSC	390	-	145	-	245
Access to Justice	-	59	7		52
Foundation
	1,525	599	839	(30)	1,255

22 Analysis of group net assets between funds

Unrestricted funds 31 March 2021 £’000 Tangible fixed assets 1,521 Cash at bank and in hand 3,321 Other net current assets/(liabilities) (1,455) 3,387 Unrestricted funds 31 March 2020 £’000 Tangible fixed assets 1,495 Cash at bank and in hand 2,318 Other net current assets/(liabilities) (877) 2,936	Pension Reserve 31 March 2021 £’000 Restricted funds 31 March 2021 £’000 Total funds 31 March 2021 £’000 - 10 1,531 - 346 3,667 (3,380) 1,069 (3,766) (3,380) 1,425 1,432 Pension Reserve 31 March 2020 £’000 Restricted funds 31 March 2020 £’000 Total funds 31 March 2020 £’000 - 19 1,514 - 209 2,527 (1,831) 1,027 (1,621) (1,831) 1,255 2,360

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

23 Related party disclosures

There were no related party transactions for the year ended 31 March 2021 (2020: none).

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

24 Reconciliation of net income/(expenditure) to net cash flow from operating activities

Net movement in funds Depreciation charge Pension interest charge (Profit)/loss on the sale of fixed assets Difference between pension charge and cash contributions Interest received (Increase)/decrease in debtors Increase/(decrease) in creditors	Group 2021 £’000 899 119 39 15 (278) (13) (162) 698	Group 2020 £’000 89 103 90 (4) (221) (8) (12) 582 619	Charity 2021 £’000 899 109 39 15 (278) (13) (303) 561	Charity 2020 £’000 89 99 90 (4) (221) (8) 148 417
	1,317		1,029	610

25 Analysis of changes in net funds

The charity had no debt during the year.

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

26 Operating lease commitments

The following operating lease payments are committed to be paid as follows:

Expiring: Within one year Between one and five years In more than five years	Other Group 2021 £’000 Group 2020 £’000 1 - - 2 - - 1 2	Land and buildings Group 2021 £’000 Group 2020 £’000 72 22 90 97 - - 162 119	Land and buildings Group 2021 £’000 Group 2020 £’000 72 22 90 97 - - 162 119
	1	162	119

27 Financial Instruments

Financial instruments are used that are necessary to facilitate the group’s ordinary trade activities, namely cash, trade payables and receivables; the resultant risks are credit risk and interest rate risk. The group does not use financial derivatives in its management of these risks.

Carrying amount of financial assets Debt instruments measured at amortised cost Carrying amount of financial liabilities Measured at amortised cost	Group 2021 £'000 Group 2020 £'000 1,336 1,379 552 426	Charity 2021 £'000 1,440 444	Charity 2020 £'000 1,332
			310

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2021

Credit Risk

The group’s policy in respect of credit risk is to require appropriate credit checks on potential customers before sales are made. At the balance sheet date, the group had the following trade receivables:

	Group	Group	Charity	Charity
	2021	2020	2021	2020
	£'000	£'000	£'000	£'000
Carrying amount of financial
assets
Trade Receivables	1,247	1,327	830	1,042

Interest Rate Risk

Cash balances are held in short-term deposit accounts, repayable on demand: these attract interest rates which fluctuate in relation to movements in bank base rate. This maintains liquidity and does not commit the group to long-term deposits at fixed rates of interest.

	Group	Group	Charity	Charity
	2021	2020	2021	2020
	£'000	£'000	£'000	£'000
Financial Assets:
Cash and Cash Equivalents
Sterling	3,667	2,527	2,710	1,833