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2024-03-31-accounts

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 2024

CHARITY NUMBER 291489

COMPANY NUMBER 01898188

CONTENTS
 PAGE
Trustees Report 3 – 29
Report of the Independent Auditors 30 - 34
Consolidated Statement of Financial Activities 35
Consolidated Balance Sheet 36
Consolidated Cash Flow Statement 37
Notes to the Financial Statements 38 - 61

TRUSTEES REPORT

1.0 INTRODUCTION

2.0 OBJECTIVES

The mission statement of YOU is:

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

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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.

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.

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

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

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

3.0 ACTIVITIES IN PURSUIT OF THE CHARITY MISSION AND OBJECTIVES

3.1 YOU’s services can be divided into five themes:

3.2 PARAGON

Impact and Achievements 2023/2024

The impacts and achievements range from increasing the number of vulnerable people we reach with our services through to personal successes for individual clients and our staff and volunteers being celebrated with awards.

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PARAGON is the YOU team working with people who experience domestic abuse, sexual violence and stalking. We have co-produced and developed a host of initiatives across the South that together create places and opportunities for safety and recovery for victims of domestic abuse. Whilst our roots are in the Violence Against Women and Girls sector, we have developed our interventions to work with male victims and females who use harmful behaviours. Our work is consistent with the Domestic Abuse Act and includes specialist support for children and young people.

We have a team who work with people using harmful behaviours via our prevention programmes, with an overarching vision to stop the epidemic of violence experienced by women and girls.

The services range from deploying integrated county-wide teams to, managing refuges, safe houses and dispersed accommodation, and the co-location of specialist workers to support a partnership response.

The services we deliver are commissioned by a number of local authorities and health organisations as well as grant givers and social investors.

Service Location Service Description Referral Numbers
2023/24		 Commissioned/
Funded By
Somerset Integrated, holistic Domestic
Abuse Services. Including
provision of safe houses,
whole family support and
advocacy, recovery work		 2173 referrals of which
30% were high risk, 28%
were for children and
young people and 35%
were for community
support and recovery
groups, with the
remainder referred for
emergency
accommodation.		 Somerset Council
Office of Police
and Crime
Commissioner

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Dorset Integrated and holistic
domestic abuse and services
including a number of
discrete projects and
interventions, which include -
• Programme for perpetrators
of domestic abuse who want
to stop their behaviour -
(Up2U)
• Family Safeguarding Teams
• Services to support victims
of stalking and raising
awareness about stalking		 1622 referrals of which
99% were connected to
support within 24 – 48
hours, 100% were
allocated a key worker.		 Dorset Council
Dorset Council
Dorset Council
Dorset Police and
Crime
Commissioner
West Sussex Children and Young Peoples
Team		 This is a new and
expanded team that
started part way through
the year. We received 97
referrals at the end of
2023/24		 West Sussex
County Council
and Sussex Police
and Crime
Commissioner
Hampshire We have a number of discrete
teams in Hampshire which
include: -
• Health IDVA’s
• Safe House
• Safe at Home - Target
hardening victims homes
• Community Outreach		 We received nearly 700
referrals with the
majority requesting
target hardening. Of
the other referrals 80%
fully engaged for
support. Additionally,
our health teams
delivered in excess of
250 training sessions and
gave advice to over 200
practitioners supporting
patients with domestic
abuse.
We have accommodated
6 people in our VAWG
house, where we
support women with
complex needs.		 Basingstoke and
Dean District
Council
Hampshire and
IOW Public Health
Hampshire and
IOW Public Health
Basingstoke Domestic Abuse Cars –
specialist staff attend
incidents with police and
support victims through
investigations		 207 people were
supported		 National Lottery
Commissioner
Isle of Wight Integrated, holistic Domestic
Abuse Services. Including
provision of safe houses,		 The core Paragon team
received in excess of
1380 referrals and nearly
100 referrals for		 Hampshire and
IOW Public Health

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whole family support and
advocacy, recovery work		 counselling. Between 96
and 100% of clients felt
safer, with improved
wellbeing post
engagement.
Bournemouth
Christchurch and
Poole		 Hospital based Independent
Domestic Violence Advice
Service		 The team worked with
over 500 people referred
via the hospital teams		 Bournemouth,
Christchurch &
Poole Council

The difference these services make to people’s lives is hard to quantify. Here are some important facts about what changed as a result of our interactions: -

We use a consistent approach to measure impact, via the Outcome Star and via feedback from clients. As an example of feedback across the Paragon areas we can see that: -

Paragon is funded by a host of people who care deeply about this issue. Our thanks go to those who fundraised and provided grants to extend these critical services.

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A special thank you to some of the wonderful organisations, local businesses and individuals for your donations. They mean a great deal to the people we work with.

3.3 SUPPORTING PEOPLE TO LIVE INDEPENDENTLY AND FLOURISH IN THEIR COMMUNITY

Impact and Achievements 2023/2024

YOU is responsible for a host of services on the South Coast that help people to live independent, fulfilling lives in their communities. These services range from registered care homes to supported housing. Our clients are young people, people with learning disabilities, physical disabilities, enduring mental health issues and anyone who needs some help to live their best life in their community.

Service Location Service Description Referral Numbers in
2023/24		 Commissioned/
Funded By
Portsmouth Supported Housing schemes
for people with learning
disabilities		 4 properties with 17
residents		 Portsmouth City
Council
Registered Care Home for
adults with mental illness		 1 property – home to 13
residents
Floating Support 73 clients supported in
their own homes

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Adult Intervention Project 38 clients supported in
2023/2024
Into Work Service 31 clients supported in
2023/2024
Dorset Supported Housing schemes
foryoung people		 2 properties with 27
residents		 Dorset Council
Petersfield Supported Housing schemes
for people with learning
disabilities		 3 properties with 15
residents		 Hampshire
County Council
Eastleigh and
New Forest		 Supported Housing schemes
for people with learning
disabilities		 12 properties with 36
clients		 Hampshire
County Council
New Forest Registered Care Home for
people with learning
disabilities		 2 properties with 13
residents		 Hampshire
County Council
Basingstoke Supported Housing schemes
for people with learning
disabilities		 13 properties with 58
residents		 Hampshire
County Council
Havant and
Waterlooville		 Supported Housing schemes
for people with learning
disabilities		 16 properties and 67
residents		 Hampshire
County Council

The community services we provide encourage young people and adults to live independent, fulfilling lives. This includes supporting people to secure fulfilling employment, engaging in community events and volunteering in the community. Carolan O’Keefe met the Mayor of Gosport in recognition of the work he had done and for his dedication to keeping the area clean and tidy and free from litter.

Our community services are commissioned by local authorities. However, YOU also devotes significant charitable resources to delivering these services. For example, we own properties and lease another three creating homes for people where they can get support and can live happier lives. We also provide emergency aid for clients who need it when they have a crisis and go the extra mile to ensure clients benefit from opportunities such as Christmas parties, Summer BBQs and theatre trips, providing much needed opportunities for people to socialise, experience shared interests and forge friendships.

We receive a lot of support too from friends and families of residents and the communities we work in - this includes financial and non-financial contributions. Local business’ donate goods and time to keep homes looking nice and gardens up to scratch or help residents to access events. Occasionally residents benefit from larger donations. For example, the friends of ‘Byways’ raised money over a number of years

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and purchased a vehicle for the residents to utilise at the service which was delivered in October 2023.

As ever our thanks go to those who fundraised for and provided grants and their time to enhance these services. It helped us to continue to make sure that residents have access to day and evening activities, nice homes to live in and their independence.

3.4 ADVICE AND INFORMATION SERVICES

For over 20 years, YOU has operated an Advice and Information Service from our office at Focus Point in Portsmouth. This service is a lifeline for the community, providing support, practical help and guidance to people on a range of issues including homelessness prevention, domestic abuse, debt management, navigating health services etc…

More recently, we have developed a similar service in Dorset delivering a range of advice, support and information to the community. It is a County-wide service there (with an office located in Poundbury), offering support to people with, debt, housing issues, energy poverty and/or feeling isolated. This service also focuses on helping people to come out of hospital back to their own home, aiding the NHS to manage demand on hospital beds.

Service Location Service Description Referral Numbers in
2023/24		 Commissioned/
Funded By
Portsmouth Delivered from our You
(Focus Point) office in
Portsmouth:-
Advice Portsmouth
Into Work Service for people
who are neurodivergent
Circles of Support (in
partnership with the Roberts
Centre and Hope Portsmouth)
Adult Intervention Project –
Tenancy Advice and Support
Service		 14095 came into Advice
Portsmouth to ask for
support in 2023/24
24 people were
supported into work
YOU and our partners
supported 633 clients in
2023/24
35 people were
supported in 2023/24		 Portsmouth City
Council
Dorset Comprised of Home from
Hospital and Social
Reablement schemes. Home
from Hospital is supporting		 2212 people received a
service from us in the
latter part of 2023/24		 Dorset Council

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people when they need to come home and understanding the barriers that can prevent this. Social Reablement is working with people who may have multiple needs including debt, rent arrears, eviction, social isolation and anti-social behaviour

These services located in the heart of communities, are commissioned by local authorities. However, we receive a lot of support too from local people and organisations who recognise how critical these services are to local residents. The grants and fundraising goes towards practical items that assist households in managing the harshest effects of the cost-of-living crisis. Our thanks go to those who fundraised for and provided grants to extend these services.

We have used the monies wisely and planning to put some of it towards providing winter support such as warm and or heated blankets, winter warm hampers etc. because we see so many of our clients struggling to afford to heat their home and some are too frightened to put their heating on because they are worried about the size of the bills

Advice Portsmouth continue to receive ongoing grants from a number of foundations and grant givers enabling us to support vulnerable local people in need - slow cookers, microwaves and airfyers all contribute towards helping clients to eat healthily on a budget and for those moving home to unfurnished accommodation. Last year we were also able to produce a healthy eating booklet which included recipe ideas and activities to do as a family.

The impact of our Advice Services is far reaching. At Advice Portsmouth, our team of advisors help and support clients with various issues including debt matters. In just one month during 2023, 245 clients were helped by us with debt matters. Within the 245, 34% of people were struggling with debt repayments. In partnership with VIVID and VIVID Plus we help and support their tenants with insolvency options such as Bankruptcy and Debt Relief Orders. £642,069.10 is the total amount of debt expected to be written off as a result of Debt Relief Orders and Bankruptcies during 1[st] April 2023 to 31[st] March 2024.

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The team at Advice Portsmouth focus on maximising income for all of our clients from ensuring their wages are paid correctly to helping clients to apply for benefits that support them with their disabilities. Over the past year we have seen more clients requesting help and support in completing forms, for example, Personal Independence payment, Disability Living Allowance, Attendance Allowance, Carers Allowance, Blue Badge, Housing Benefit and Council Tax Support. Between October and December 2023, we assisted 198 clients with form filling; this was a huge increase from the previous year in which we assisted 46 clients during the same period.

Advice Portsmouth support clients experiencing housing problems - in November 2023, we supported 294 clients in housing difficulty. The issues related to general housing issues, disrepair of their homes, affordability, rent increases, neighbour issue and threats of eviction.

The feedback we receive about Advice Portsmouth, is positive – this comment typifies the impact –

“Thank you so much for the advice & help received today. I felt like I was drowning having so many problems and now I can finally start to see a path all because of your service. I am indebted to the kindness show and the help given”

3.5 IMPROVING THE HEALTH AND WELLBEING OF COMMUNITIES

YOU has a strong track record in improving the physical, emotional and mental health and wellbeing of adults and children. Tackling health inequalities is a key priority for YOU and in 2023/24 we delivered three key initiatives to promote good mental and physical health.

Social Prescribing

Having championed the social prescribing model of supporting health and community connections, we now run schemes in Portsmouth, Hayling Island and Emsworth.

Counselling

YOU has an established Counselling Centre in Portsmouth and a satellite centre in Fareham. From these locations we deliver a range of trauma informed interventions including generic counselling, substance misuse, specialist support to victims of domestic violence and sexual violence (STAR) living in refuges and in the community and children and young people counselling services, in person and online.

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YOU works in partnership to deliver services, including counselling. In September 2023, working with the Society of St James YOU began providing counselling interventions for people accessing substance misuse services, specialist domestic abuse (PARAGON) counselling with refuge providers.

Our STAR and PARAGON counsellors also work from our Fareham and IOW Centres, and hold weekend day retreats and workshops in Fareham. We are proud of our track record of supporting trainee Counsellors to learn their practice by working with us and the number who having been in our services themselves, chose to train to help others.

Cycling Without Age

You may have seen our special bicycles riding up and down Southsea seafront and on Hayling Island. In 2012, Ole Kassow, recognizing the transformative power of a bicycle ride, began offering free rides to elderly residents in Denmark using a specially designed trishaw, a three-wheeled bicycle with a passenger seat upfront. In 2019 YOU purchased three trishaws, creating our Cycling Without Age (CWA) Chapter. It has proved to be a heart-warming initiative that breathes new life into communities in the south by celebrating the simple joys of cycling and the profound connections it fosters among people of all ages and abilities.

The response to the YOU trishaws has been overwhelmingly positive. Passengers of all ages relish the opportunity to feel the wind in their hair, experience the thrill of movement, and engage with the world outside their home.

At YOU we provide free rides for the community of Portsmouth and Hayling Island, referrals come from NHS surgeries, community groups, care providers and other organisations.

Our volunteers talk passionately about the impact piloting a trishaw has for them too:-

“I am fortunate enough to work for a company that gives employees ‘Volunteer Time Off’ days; utilising these for Cycling Without Age is the most gratifying experience for all concerned. They are an excellent way of meeting new people, often helping them get out and about and see the city in a new way. Even the waving from people we pass never fails to bring a smile. Occasionally there is some initial trepidation, but this disappears once we are on the move”

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We link up with places all over Portsmouth and take their clients out from these locations - such as ‘SPARK Community Space’. Our thanks go to Beckie and her team at SPARK for all of their support.

The benefits CWA brings our communities is clear and we fundraise to keep the initiative alive. In 2023/2024 funding from Sport England and The League of Friends at St. Marys Hospital kept our bikes on the road. In this year fundraising efforts continue. We are thankful to League of Friends at St Marys Hospital and businesses and individuals that donated time and money keeping the trishaws pedalling in the year to come.

Service Location Service Description Referral Numbers in
2023/24		 Commissioned/
Funded By
Portsmouth Social Prescribing -
Personalised Care Team
which comprises of Care
Coordination, Social
Prescribing and Health and
WellbeingCoaching		 493 referrals received in
2023/24		 Portsmouth
Southcoast
Primary Care
Network (NHS)
Portsmouth and
Hayling Island		 Cycling without Age
Portsmouth and Hayling
Island – Sport
England/Energise Me
Investing in Communities
funded for 22 weeks and the
YOU trust till June 24		 350 rides took place in
Portsmouth and Hayling
Island		 Cycling without
Age Portsmouth
and Hayling Island
was funded by
Sport
England/Energise
Me Investing in
Communities and
The YOU Trust till
June 24
Portsmouth,
Fareham, IOW,
East Hampshire,
Somerset,
Sussex and
Dorset		 From our Counselling Centre
in Portsmouth, we have
teams across a number of
counties, offering face to face
and virtual counselling and
recovery groups. We offer
generic counselling,
counselling interventions for
people accessing substance
misuse services, specialist
domestic abuse (PARAGON)
counselling, and our Sexual
Trauma and Recovery Team
(STAR) work with people who
have experienced
recent/non-recent sexual
abuse or rape.		 Overall, these teams
received in excess of
1400 referrals. We have
a number of peers who
have concluded
counselling and engaged
with specific training and
now support and help
others. We also have a
large number of
volunteer counsellors
who meet their required
counselling training
hours working at YOU.		 Hampshire Office
of the Police and
Crime
Commissioner
Society of St
James
National Lottery
Portsmouth City
Council
Hampshire and
IOW Public Health

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The services above are only possible to deliver because of the grants and donations we receive to compliment investment by commissioners and funders.

The battle to keep our health and wellbeing offer running is constant and we know how important they are to communities. The evidence of the impact is certain and YOU will do all it can to not only raise money to continue to deliver services but to campaign for sustainable long-term funding streams in the future.

3.6 TRAINING AND EDUCATION

Training and education, is an integral element of our dual charitable mission. YOU, is a Learning organisation which means that everything we do reinforces the importance of exchanging information, working out new ways to do things, passing on skills and extending information and knowledge to help everyone reach their potential.

We deliver this priority in a variety of ways. In our service delivery by unlocking different approaches and theories of change that mean more independence for clients, connecting clients with education services and adult learning and by designing and delivering training too. My Learning Cloud is at the centre of our commitment to creatively developing training.

Service Location Service Description Referral Numbers Commissioned/
Funded By
Nationwide and
across the South		 Dragonfly – training
communities to be a listening
ear and link to people
experiencing domestic abuse,
supporting them to access
specialist services and
increase safety		 849 champions were
trained during 2023-24		 YOU

4.0 MY LEARNING CLOUD

My Learning Cloud is at the forefront of driving up the quality of services in the health, housing and social care sector and beyond.

My Learning Cloud has been trading since 2012 as a wholly owned company operating as a social enterprise gifting profit to YOU. Our team of 18 staff at MLC develops and sells two main products – our Learning Management System (LMS – a software tool that allows businesses to plan, create, deliver and report on training

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programmes for their workforce) and e-Learning courseware (individual subject specific e-learning courses).

Our LMS is available in multiple tiers subject to the organisation’s requirements and budget. These are branded as Lumis Essentials (minimum feature set), Lumis Pro and Lumis Enterprise (maximum feature set)

We operate to a Software as a Service (SaaS) model whereby organisations subscribe to our products and services for a fixed term which may be renewed indefinitely. These products have traditionally been sold as a package on a business-to-business basis.

In 2023/24 My Learning Cloud continued to gift aid profit to YOU. Turnover was approximately £1.4m.

MLC had approximately 118,000 active user accounts in 23/24 and 118 customers were onboarded onto our new generation LMS product, Lumis.

We expect to improve on this performance through a renewed focus on increasing our commercial performance, we are now looking to diversify the markets in which we operate, both by industry and geography and increase profits substantially over the coming years. We know this ambition is achievable because we are attracting new customers and our customers stay with MLC.

5.0 QUALITY ASSURANCE

5.1 YOU, has a robust and comprehensive Quality Assurance Framework that is overseen by the Quality Assurance Committee. The Committee receives regular reports on Quality Assurance activities and case studies and has a role in assuring improvement activity planned is delivered.

Some YOU services are subject to statutory inspections. The Care Quality Commission assess all relevant services. All YOU services assessed by CQC are rated as ‘good’.

Our Young Peoples service in Dorset is now subject to Ofsted Inspection. As this is a new inspection regime for supported living, a formal Ofsted Inspection has not as yet taken place.

New regulations introduced last year mean that Advice Portsmouth is also now subject to additional regulation by the Financial Conduct Authority – the service has met the standard required.

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At YOU we believe that meeting the requirements of national inspection bodies is achieved by upholding high standards of service delivery and constantly learning and listening to our clients. These key elements are the foundations of the YOU Quality Assurance Framework we operate which includes: -

Trustees visit our services and teams, chat to staff and residents and feedback what they have seen and heard to Quality Assurance Committee.

Accreditations and association membership provides assurance that our services meet high quality industry standards. Where we have unregistered/unregulated teams/services we actively seek external accreditation that represent national excellence – specifically for YOU Counselling and Paragon. We are also members of the Helpline Partnership and our teams are all trained by them in effective staffing of a helpdesk and ensuring our front-line response is trauma informed and meets national standards.

6.0 SAFEGUARDING

Our definition of safeguarding is the protection of vulnerable individuals from abuse, harm, and neglect. It encompasses measures to promote the health, well-being, and human rights of individuals in our care.

Our safeguarding framework and policies are rooted in our legal commitments, the feedback we actively collect and learning from practice. Our Directors of Operations and Business Development fulfil the roles of Safeguarding Leads for both Adults and Children.

There is an identified Safeguarding lead on our Board of Trustees and the Quality Assurance Committee receives quarterly reports on all safeguarding activity. Trustees

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receive annual training on safeguarding for adults and children and are cognisant of the duties for safeguarding oversight.

Trustees have a role in promoting a safeguarding culture within the organisation ensuring effective safeguarding policies and procedures are in place, ensuring all staff receive regular safeguarding training, reviewing safeguarding practices and ensuring there are clear mechanisms for reporting safeguarding concerns.

A set of key principles underpin YOUs approach to safeguarding. These are: Empowerment, Prevention, Proportionality, Protection, Partnership and Accountability.

7.0 PEOPLE VALUES AND ORGANISATIONAL DEVELOPMENT

7.1 Recruiting and retaining the best staff and volunteers is critical to YOU’s charitable mission. The work we do has at its heart, relationships with people. That means we strive to always support the staff and volunteers who give their time to charity, whether that is in a paid or unpaid capacity.

Staff at YOU tell us they like working here. At YOU, we develop and provide stimulating and compassionate working environments, meaning staff join us and they stay. Over 100 of our current employees have worked at YOU for more than 10 years and more than half of the senior leadership team have achieved the same. Furthermore, every year we see that a number of our staff, workers and volunteers who choose to leave us return again.

The YOU Group is made up of circa 816 remarkable people! 800 in the charity, 16 in My Learning Cloud. We also have 60 invaluable volunteers and 80 Premier Crew staff who support our work by stepping in to cover service delivery.

At YOU we have a clear commitment to creating a working environment that welcomes and supports difference and promotes inclusion, equality and diversity. We are an equal opportunities employer. Disability Confident since October 2017 and our gender pay gap results are testament to our commitment.

In 2023/24, we built on the staff engagement conference that focused on Equity Diversity and Inclusion (EDI) and trustees and the Senior Management team at YOU completed training commissioned the previous year that focused on leading with an EDI lens. It will remain a business-critical priority in the coming year when we will seek to understand how we can build even more into our organisation to support staff to overcome the barriers and access the opportunities to succeeding at YOU.

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Unison is the recognised Trade Union of YOU with whom we have a Consultation and Negotiation Framework Agreement. We work closely with Unison, having regular meetings and discussions about staffing matters, policies, and priorities. This includes the annual pay review. In 2023/24 all staff received a pay rise of 3% or above.

At YOU we have a continual focus on how we retain and recruit the best staff, workers, and volunteers. We do this via a number of means including traditional advertising, social media marketing campaigns, attending job fairs, creating relationships with schools, colleges and universities, and ensuring our offer to staff is of high quality and attractive. This includes good terms and conditions and meaningful training, qualifications, and career development, encouraging all of us to be lifelong learners.

YOU has a positive reputation for the training and development of staff and our staff tell us that this is very important to them. We are renowned for our comprehensive face to face, online, and hybrid training programmes which elevate staff competence, gives confidence and knowledge and means that the standard of service delivered is exceptional.

The YOU Trust use MLC’s Learning Management System Lumis Pro (the fully featured Lumis package) to manage our workforce’s learning and development (L & D). MLC also use their own LMS to manage their L&D requirements.

YOU use the learning journeys functionality in Lumis Pro to ensure individuals, roles and locations have the appropriate level of mandatory and optional training assigned and available to them. YOU use almost all of MLC’s e-learning titles as well as the workshop functionality to manage face-to-face and virtual learning events, file submissions to manage the signoff of document or paper- based files, and self-certify to track and record completions against externally hosted learning resources. YOU are in the process of rolling out the Lumis mobile application to all staff to further enhance access to training and flexible approaches to interacting with it.

As we move forwards YOU and MLC will continue to focus on training and developing our staff team using imaginative formats and applications because we believe in the benefits this creates for clients, staff and volunteers.

YOU is committed to promoting the well-being of employees, workers and volunteers. YOU have appointed Employee Well-being Champions across the organisations. The group of champions meet approximately every 6 weeks and is chaired by a Director who is also a champion reflecting the importance placed by the organisation of promoting well-being wherever possible. The champions are available

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to provide additional support and signposting to all staff and run regular awareness campaigns which in 23/24 included a focus on Stress Awareness Week and Mental Health Week amongst others. In addition, some of the champions produced a podcast on anxiety and are introducing a new e-learning course on MLC on this topic. Our well-being benefits includes free access to a 24/7 confidential Employee Assistance Service, a bike to work scheme and discounts to a variety of websites which include well-being offers.

8.0 FINANCIAL REVIEW

At its meeting, trustees of the Finance and Commercial Committee, regularly reviewed the financial performance of the charity and My Learning Cloud against the budget it set at the start of the year.

At the end of the financial year, the audited accounts show that YOU made a surplus. This is an improvement on the year before and will alleviate the charities financial risk going forwards by contributing to investment in services, increasing the unrestricted reserves and reducing debt.

However, like many charities in the UK, the constraints faced in the public sector, coupled with the devastating impact of COVID and the cost of living catastrophe, means that our financial future remains uncertain and priority for Trustees as we seek to provide much needed services going forwards.

As well as proactively managing the Pension Deficit, In order to actively manage the other financial risks and issues faced by charities including YOU, we have focused on identifying opportunities for growth and at the same time a range of activities that improve value for money, reduce our overheads and increase time that staff can

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spend with clients by introducing digital innovations such as Nourish Case Management.

RESERVES POLICY

At the year end the free reserves of the charity were £681,000 which is under target and equally in light of the Pension Deficit, the Trustees do not consider the reserves to be excessive.

INVESTMENT POLICY

SERVICE CHARGES

8.4 Publicly funded services are delivered free of charge to beneficiaries, with charges applying in the case of:-

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.

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9.0 REFERENCE AND ADMINISTRATIVE INFORMATION

9.1 Registered CharityName The YOU Trust(known as YOU on an operatingbasis)
CharityNumber 291489
CompanyNumber 1898188
Registered Office Delme 1,
Delme Place,
Cams Hall Estate,
Fareham,
PO16 8UX
Auditors Sumer Audit
Piper House
4 Dukes Court
Bognor Road
Chichester, West Sussex
PO19 8FX
Bankers Lloyds TSB Bank plc.
St John’s Centre,
Hedge End,
Southampton,
Hampshire,
SO30 4QU

TRUSTEES AND DIRECTORS

9.2 The Trustees and officers serving during the year and since the year-end are set out below.

Derek Marshall – Chair of the YOU Group Board (elected January 2024) Steve Pitt – Chair of the YOU Group Board (Until January 2024) Caroline Sharman-Mendoza – Deputy Chair of the YOU Group Board Trudy Mansfield – Deputy Chair of the YOU Group Board (elected October 2023) Anne Ridley Emma Giles Jonathan Crutchfield Robyn Allen Helen Andrews Simon Bowden (Appointed July 2024) Edward Vera-Cruz (Appointed July 2024) Gareth Pugh (Appointed July 2024) Amanda Jobling (Appointed July 2024) Anthony Quinn (Appointed July 2024) James Fullarton (Resigned June 2024) Marcia Nguyen (Resigned November 2024) Matt Haynes (Resigned March 2024) Sara-Rose Langston (Resigned October 2023) Saif Mohammad (Resigned October 2023)

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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’.

The Trustees would like to give thanks to Bishop Jonathan Frost of the Anglican Diocese of Portsmouth for his patronage during the year.

EXECUTIVE LEADERSHIP TEAM

Name Role Delegated Authority
Hayley Connor_(from July_
2023) Prior to this date –
Nicola Youern		 Group Chief Executive of YOU
and Managing Director of My
Learning Cloud		 Lead for The YOU Group
Board, Trust Executive
Committee and Director of My
LearningCloud
Paul Taylor-Toms Group Director of Finance Lead for Finance and
Commercial Committee and
Director of MyLearningCloud
Jane Cracknell Group Director of People,
Culture and Organisational
Development		 Lead for Culture, People and
Communications Committee
and My Learning Cloud
Director
Phil Freed Director of Operations and
Business Development		 Joint Lead for Quality
Assurance Committee
Tonia Redvers Director of Operations and
Business Development		 Joint Lead for Quality
Assurance Committee
Michael Statham Interim Chief Officer MyLearningCloud
DaisyLiss Chief Officer(until January2024) MyLearningCloud
Nigel Groves GroupHead of IT IT Lead across the YOU Group

10.0 STRUCTURE GOVERNANCE AND MANAGEMENT

GENERAL MEETING OF THE COMPANY

23

RECRUITMENT AND APPOINTMENT OF TRUSTEES

TRUSTEE RECRUITMENT INDUCTION, LEARNING AND DEVELOPMENT

During the year the Trustees participated in training including Adult and Young People’s safeguarding, and Equality, Diversity and Inclusion.

24

11.0 RISK MANAGEMENT

At YOU we define a risk as any event that could prevent a charity achieving its aims or carrying out its strategies.

The risks we have identified are categorised in to six themes; Governance, People and Organisation, Operations, Finance, Environmental or External Factors such as public opinions or national events and Compliance (with law or regulation). These six themes are described in detail in the Risk Register along with proposed responses and the effectiveness of it. The Risk Register encompasses MLC.

The risk register is owned and reviewed annually by Trustees, along with the Organisational Risk Policy which sets out the methodology and expectations of all involved in identifying and responding to risk. Each quarter the MLC and YOU Group Board and its committees reflect on the key risks, rising risks and new risks. The responsibility for risk management is at the centre of the Terms of Reference for all formal governance meetings.

The major risks faced by YOU in 2023/24 were similar to those being managed by other charities across the UK:-

25

There is a plan to manage risks summarised in the Risk Register and the organisational Business Plan priorities include controlling, mitigating and management of risks in year and beyond.

YOU and MLC have comprehensive disaster recovery policies and plans. These are tested regularly and annually a disaster recovery exercise takes place to test resilience and if our approach is fit for purpose.

11.2 The Board has not constituted an Audit Committee. The internal Audit functions are contained within the Terms of Reference of all Committees and audit reports are commissioned by those Committees paying due regard to the rankings of the risk register. In 2023, an audit checklist was introduced and this assessment forms the basis of short, medium and longer term audit plan for YOU and MLC in the future.

During 2023/24 the impact of agency costs continued to be a major risk for the charity as the national crisis in social care recruitment continued. This risk is monitored at every meeting of the Board and Committees.

The Increasing pension deficit contributions due to an actuarial valuation and the inability of the charity to meet these costs continued to be a major risk. 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.

12.0 DELEGATION OF AUTHORITY

26

RELATED PARTIES AND COOPERATION WITH OTHER ORGANISATIONS

None of our Trustees receive remuneration. Any connection between a trustee or Group Executive Leadership team member with any related third party must be disclosed to the YOU Group Board. In the current year, no such related party transactions were reported.

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

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 offers assistance with applying to the Access to Work scheme for eligible recruits.

27

Dedicated Employee Wellbeing Champions also 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 long-term health condition.

13.0 TRUSTEES’ RESPONSIBILITY STATEMENT

13.1 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).

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:

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.

28

14.0 DISCLOSURE OF INFORMATION TO AUDITORS

By order of the Board of Trustees

Derek Marshall (Chair)

29

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 2024 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:

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:

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:

31

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:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

32

Report of the Independent Auditors to the Members of

The YOU Trust

As a result of these procedures, we considered the opportunities and incentives that may exist within the group for fraud. We are also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements: health & safety, employment law, and compliance with the UK Companies Act and Charities Act.

In addition to the above, our procedures to respond to risks identified included the following:

Due to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the noncompliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

33

Report of the Independent Auditors to the Members of

The YOU Trust

Jordan Abbott BSc ACA (Senior Statutory Auditor)

for and on behalf of Sumer Audit

.........................

Chartered Accountants Statutory Auditor Piper House 4 Dukes Court Bognor Road Chichester West Sussex PO19 8FX

Sumer Audit is a trading name of Sumer Auditco Limited

34

The YOU Trust Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 March 2024

Unrestricted Restricted Total Total
funds funds 2024 2023
£'000 £'000 £'000 £'000
Notes
Income from
Donations and legacies 4 - 64 64 60
Charitable activities
Care and Support 5 19,734 2,752 22,486 20,349
Other trading activities
Commercial trading operations 6 1,356 - 1,356 1,317
Investment income 7 - - - -
Other income 1 - 1 -
Total 21,091 2,816 23,907 21,726
Expenditure on
Raising funds
Commercial trading operations 6 1,325 - 1,325 1,304
Charitable activities
Care and Support 8 19,407 2,400 21,807 20,529
Total 20,732 2,400 23,132 21,833
Net (expenditure)/income 359 416 775 (107)
Actuarial gains/(losses) on defined 20 (419) - (419) (468)
benefit schemes
Net movement in funds 21 (60) 416 356 (575)
Reconciliation of funds
Total funds brought forward (295) 1,966 1,671 2,246
Total funds carried forward (355) 2,382 2,027 1,671

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 2024

Group Group Charity Charity
2024 2023 2024 2023
£'000 £'000 £'000 £'000
Notes
Fixed assets
Tangible assets 16 1,557 1,653 1,527 1,611
Investments 17 - - 10 10
1,557 1,653 1,537 1,621
Current assets
Debtors 18 3,781 3,848 3,326 3,358
Cash at bank and in hand 1,566 892 1,119 583
5,347 4,740 4,445 3,941
Creditors
Amounts falling due within one 19 (2,304) (2,509) (1,397) (1,678)
year
Net current assets 3,043 2,231 3,048 2,263
Total assets less current liabilities 4,600 3,884 4,585 3,884
Provisions for liabilities 20 (2,573) (2,213) (2,573) (2,213)
Net assets 2,027 1,671 2,012 1,671
Funds
Unrestricted income funds 22 2,218 1,918 2,203 1,918
Pension reserve (2,573) (2,213) (2,573) (2,213)
General unrestricted funds (355) (295) (370) (295)
Restricted income funds 21 2,382 1,966 2,382 1,966
Total funds 2,027 1,671 2,012 1,671

The financial statements were approved by the Board of Trustees on 12[th] November 2024 and were signed on its behalf by:

Trustee – Derek Marshall

The You Trust, registered in England no. 1898188

36

The YOU Trust

Statement of Cash Flows and Consolidated Cash Flows

For the Year Ended 31 March 2024

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
2024
£'000
852
(104)
748
-
(75)
1
(74)
674
892
1,566		 Group
2023
£'000
(1,493)
(52)
(1,545)
-
(223)
-
(223)
(1,768)

2,660
892		 Charity
2024
£'000
714
(104)
610
-
(75)
1
(74)
536
583
1,119		 Charity
2023
£'000
(1,231)
(52)
(1,283)
-
(190)
-
(190)
(1,473)
2,056
583

37

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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 2019) - (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.

Despite a challenging year for reasons outlined in the Trustees Report, 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.

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

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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 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.

39

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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:

Key Sources of Estimation Uncertainty

Multi employer defined benefit pension scheme

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

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

40

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

Assets held in service properties Straight line over 3 years Assets held in offices Straight line over 5 years Short term improvements to property Straight line over 10 years 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.

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.

41

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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 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.

42

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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
4
Donations and legacies
Small gifts and donations
Legacies		 2024
£'000
22,551
16
22,567
21,807
760
(419)
341
1,671
2,012
2,382
2,203
(2,573)
2,012
2024
£'000
64
-
64		 2023
£'000
20,409
13
20,422
20,529
(107)
(468)
(575)
2,246
1,671
1,966
1,918
(2,213)
1,671
2023
£'000
19
41
60

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.

43

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

5 Charitable Activities


Charitable Activities
Unrestricted
Restricted
funds
funds
2024
2024
£'000
£'000
Grants receivable for charitable activities
-
2,752
Fees and charges
19,734
-
19,734
2,752		 Total
Funds
2024
£'000
2,752
19,734
22,486		 Total
Funds
2023
£'000
3,074
17,275
20,349

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:

7
Investment income
Interest received
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		 2024
£'000
-
-
2024
£'000
1,356
(1,325)
-
31
(29)
2
30
994
(995)
29
29		 2023
£'000
1,317
(1,304)
-
13
-
13
42
865
(880)
27
27
2023
£'000
-
-

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

44

The YOU Trust

Notes to the Financial Statements For the Year Ended 31 March 2024

8 Charitable Activities

Advice &
Health and
Homeless- Domestic
Counselling
Recovery
ness
Violence
Disabilities
£'000
£'000
£'000
£'000
£'000
Salary and associated costs
1,061
838
557
2,925
12,246
Rent
19
89
-
161
271
Other property costs
69
54
14
73
167
Depreciation
2
-
-
3
85
Other costs
26
25
1
66
79
Support costs (see note 9)
143
122
69
391
1,560
Governance costs (see note 9)
2
1
1
4
18
1,322
1,129
642
3,623
14,426		 Advice &
Health and
Homeless- Domestic
Counselling
Recovery
ness
Violence
Disabilities
£'000
£'000
£'000
£'000
£'000
Salary and associated costs
1,061
838
557
2,925
12,246
Rent
19
89
-
161
271
Other property costs
69
54
14
73
167
Depreciation
2
-
-
3
85
Other costs
26
25
1
66
79
Support costs (see note 9)
143
122
69
391
1,560
Governance costs (see note 9)
2
1
1
4
18
1,322
1,129
642
3,623
14,426		 Young
People
£'000
383
114
71
-
24
72
1		 Total
2024
£'000
18,010
654
448
90
221
2,357
27		 Total
2023
£'000
16,900
689
548
92
210
2,070
20
14,426 665 21,807 20,529

Expenditure on charitable activities was £21,807,000 (2023: £20,529,000) of which £19,407,000 was unrestricted (2023: £18,141,000) and £2,400,000 was restricted (2023: £2,388,000).

9 Support Costs

General
Governance
Support
function
£'000
£'000
Salary and associated costs
1,652
25
Rent
112
-
Other property costs
64
-
Depreciation
69
-
Legal and professional fees
32
-
Other costs
428
2
2,357
27		 Total
£'000
Basis of apportionment
1,677
Time
112
Time
64
Time
69
Time
32
Time
430
Time
2,384

45

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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

2024 2023
This is stated after charging: £'000 £'000
Operating leases - land and buildings 226 139
Operating leases - other and motor vehicles - 2
Depreciation 170 223
(Loss)/Profit on disposal of fixed assets 1 -
Auditors' remuneration - audit services 13 14
Auditors' remuneration - non-audit services 2 3

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		 2024
£'000
15,830
1,360
633
7
17,830		 2023
£'000
14,152
1,238
578
2
15,970

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

2024 2023
Number Number
£60,000 to £69,999 - -
£70,000 to £79,999 1 1
£80,000 to £89,999 1 1
£90,000 to £99,999 - -
£100,000 to £109,999 - -

The charity trustees were not paid or received any other benefits from employment with the Trust or its subsidiary in the year (2023: £nil). 2 (2023: 2) trustees were reimbursed expenses for charitable purposes during the year of £1,790 (2023: £1,210). A further £222 (2023: £2,754) was spent on Trustee Meetings during the year. No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

The key management personnel of the parent charity, the Trust, comprise the trustees, the Group Chief Executive Officer, the Group Director of Finance and the Group Director of People, Culture and Organisational Development. The total employee benefits of the key management personnel of the Trust were £276k (2023: £246k)

46

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

12 Staff Numbers

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

Management and administration
Direct and support staff		 2024
Number
63
615
678		 2023
Number
59
585
644

13 Government Grants

Income from government grants during the year was £nil (2023: £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.

47

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

15 Comparatives for the statement of financial activities

Unrestricted Restricted
Funds
funds
£'000
£'000
Income from
Donations and legacies
-
60
Charitable activities
Care and Support
17,275
3,074
Other trading activities
Commercial trading operations
1,317
-
Investment income
-
-
Other income
-
-
Total
18,592
3,134
Expenditure on
Raising funds
Commercial trading operations
1,304
-
Charitable activities
Care and Support
18,141
2,388
Total
19,445
2,388
Net (expenditure)/income
(853)
746
Actuarial (losses)/gains on defined benefit pension
schemes
(468)
-
Net movement in funds for the year
(1,321)
746
Reconciliation of funds
Total funds brought forward
1,026
1,220
Total funds carried forward
(295)
1,966		 Total
Funds
£'000
60
20,349
1,317
-
-
21,726
1,304
20,529
21,833
(107)
(468)
(575)
2,246
1,671

48

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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 2023
1,823
308
79
858
34
Additions
-
-
-
55
20
Disposals
-
160
-
-
-
At 31 March 2024
1,823
148
79
913
54
Depreciation
At 1 April 2023
596
187
27
616
23
Charge for year
22
8
1
137
2
On disposals
-
159
-
-
-
At 31 March 2024
618
36
28
753
25
Net book value
At 31 March 2024
1,205
112
51
160
29
At 31 March 2023
1,227
121
52
242
11
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 2023
1,823
275
79
804
34
Additions
-
-
-
55
20
Disposals
~~-~~
~~(159)~~
~~-~~
~~-~~
~~-~~
At 31 March 2024
1,823
116
79
859
54
Depreciation
At 1 April 2023
596
187
27
571
23
Charge for year
22
5
1
129
2
On disposals
-
(159)
-
-
-
At 31 March 2024
618
33
28
700
25
Net book value
At 31 March 2024
1,205
83
51
159
29
At 31 March 2023
1,227
88
52
233
11		 Total
£’000
3,102
75
160
3,017
1,449
170
159
1,460
1,557
1,653
Total
£’000
3,015
75
(159)
2,931
1,404
159
(159)
1,404
1,527

1,611

49

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

Included within freehold land and buildings is land with a value of £475,660 (2023:£475,660) which is not depreciated. Included within Fixtures, fittings and equipment are restricted fixed assets with a value of £nil (2023: £nil). A fixed charge is held by our pension provider over freehold/leasehold properties with a net book value of £863,874 (2023:£879,545)

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.

18
Debtors
Group
2024
£’000
Group
2023
£’000
Trade Debtors
901
1,196
Other Debtors
13
201
Prepayments and accrued income
2,867
2,451
Amount due from subsidiary
undertaking
-
-
3,781
3,848
19
Creditors
Group
2024
£’000
Group
2023
£’000
Trade Creditors
177
555
Other Creditors and Accruals
710
701
Deferred Income
1,019
892
Taxation and social security costs
398
361
Amount due to subsidiary undertaking
-
-
2,304
2,509
Deferred Income		 Charity
2024
£’000
371
13
2,849
93
3,326
Charity
2024
£’000
171
668
265
293
-
1,397		 Charity
2023
£’000
724
201
2,416
-
3,341
Charity
2023
£’000
511
678
182
257
50
1,678

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

Brought forward
Amount released to incoming resources
Amount deferred in year
Carried Forward		 Group
2024
£’000
892
(892)
1,019
1,019		 Group
2023
£’000
1,751
(1,751)
892
892		 Charity
2024
£’000
182
(182)
265
265		 Charity
2023
£’000
1,054
(1,054)
182
182

50

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

20 Provisions for liabilities

0
Provisions for liabilities
SHPS
Growth Plan		 2024
£’000
2,571
2
2,573		 2023
£’000
2,211
2
2,213

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 2020. This valuation revealed a deficit of £1,560m. A Recovery Plan has been put in place with the aim of removing this deficit by 31 March 2028.

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 each year. The liability figures from this valuation are rolled forward for accounting year-ends from the following 31 March to 28 February inclusive. The latest accounting valuation was carried out with an effective date of 30 September 2021. The liability figures from this valuation were rolled forward for accounting year-ends from the following 31 March 2022 to February 2023 inclusive.

The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was £120,000 (2023 - £68,000).

51

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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 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 £390,150 (2023: £369,811) The cash contribution paid was £162,563 (2023: £369,811). Shortfalls on the deficit reduction payments have been secured against property (included within Freehold Land & Buildings) to the value of £790,021 (2023: £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:

2024
2023
£
£
Fair value of plan assets 6,357,000
6,724,000
Present value of defined benefit obligation (8,928,000)
(8,935,000)
Defined benefit pension scheme deficit (2,571,000)
(2,211,000)

Defined benefit obligation

Changes in the defined benefit obligation are as follows:

Defined benefit obligation
Changes in the defined benefit obligation are as follows:
2024
£
Present value at start of year 8,935,000
Expenses 16,000
Interest expense 430,000
Actuarial losses (gains) (247,000)
Benefitspaid and expenses (206,000)
Present value at end of year 8,928,000

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:
2024 £
Fair value at start of year 6,724,000
Interest income 326,000
Return on plan assets, excluding amounts included in interest
income/(expense) (666,000)
Employer contributions 179,000
Benefitspaid and expenses (206,000)
Fair value at end of year 6,357,000

52

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

Amounts recognised in the Income and Expenditure Account
Experience on plan assets (excluding amounts recognised as
interest cost) – gain/(loss)
Effects of changes in the financial assumptions – gain/(loss)
(419,000)
(468,000)
2024
2023
634,000
125,000
248,000
73,000
224,000
204,000
208,000
254,000
202,000
12,000
82,000
36,000
372,000
495,000
33,000
170,000
255,000
289,000
642,000
768,000
5,000
-
250,000
299,000
249,000
288,000
1,000
24,000
125,000
48,000
41,000
203,000
190,000
309,000
2,588,000
3,097,000
(3,000)
13,000
11,000
17,000
6,357,000
6,724,000
Analysis of assets
The major categories of scheme assets are as follows:
Global Equity
Absolute Return
Distressed Opportunities
Credit Relative Value
Alternative Risk Premia
Emerging Markets Debt
Risk Sharing
Insurance-Linked Securities
Property
Infrastructure
Private Equity
Private Debt
Opportunistic Illiquid Credit
High Yield
Cash
Long Lease Property
Secured Income
Liability Driven Investment
Currency Hedging
Net current Assets
Total Assets

53

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

Principal actuarial assumptions

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

2024 2023
% %
Discount Rate 4.91 4.85
Inflation (RPI) 3.14 3.18
Inflation (CPI) 2.78 2.78
Salary Growth 3.78 3.78
Allowance for commutation of pension for cash at 75% of 75% of
retirement maximum maximum
allowance allowance

Post retirement mortality assumptions

Post retirement mortality assumptions
Life
expectancy at
age 65
Years
Male retiring in 2024 20.5
Female retiring in 2024 23.0
Male retiring in 2044 21.8
Female retiring in 2044 24.4

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 2020. This valuation showed assets of £800m, liabilities of £832m and a deficit of £32m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme.

54

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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 31 March 2024 31 March 2023
£’000 £’000
Provision at start of period 2 2
Unwinding of the discount factor - -
Deficit contribution paid - -
Impact of change in assumptions and contribution schedule - -
Provisions at end of period 2 2
Income and expenditure impact 31 March 2024 31 March 2023
£'000 £'000
Interest expense - -
Impact of change in assumptions and contribution schedule - -
Assumptions 31 March 2024 31 March 2023 31 March 2022
% per annum % per annum % per annum
Rate of discount 5.31 5.52 2.35

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.

55

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

21 Analysis of charitable funds

Analysis of movements in unrestricted funds

Other
Balance at Incoming Resources recognised Balance at
1 April 2023 resources expended gains/losses 31 March 2024
£’000 £’000 £’000 £’000 £’000
General fund 1,918 21,091 (20,791) - 2,218
Pension reserve (2,213) - 59 (419) (2,573)
(295) 21,091 (20,732) (419) (355)
Other
Balance at Incoming Resources recognised Balance at
1 April 2022 resources expended gains/losses 31 March 2023
£’000 £’000 £’000 £’000 £’000
General fund 3,088 18,592 (19,762) - 1,918
Pension reserve (2,062) - 317 (468) (2,213)
1,026 18,592 (19,445) (468) (295)

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

56

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

Analysis of movements in restricted fund

Balance
at Balance at
1 April Incoming Resources 31 March
2023 resources expended Transfer 2024
£’000 £’000 £’000 £’000 £’000
DV Welfare 1,048 1,497 (1,307) - 1,238
Big Lottery 73 - (52) - 21
PCC 2 - - - 2
Community 494 290 (346) - 438
MOJ 174 339 (275) - 238
Legacy 41 - (23) - 18
SRASAC 134 690 (397) - 427
1,966 2,816 (2,400) - 2,382

Name of restricted fund Description, nature and purposes of the fund

DV Welfare To provide support for victims of Domestic Abuse Big Lottery Support and Counselling services Community Funds to combat loneliness and isolation in communities MOJ Funds from Ministry of Justice Government Funding in response to COVID-19 Health & Wellbeing To provide Health and Wellbeing services Legacy Legacy Donations SRASAC To provide Rape and Counselling services

57

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

Analysis of movements in restricted fund

Balance at Balance at
1 April Incoming Resources 31 March
2022 resources expended Transfer 2023
£’000 £’000 £’000 £’000 £’000
DV Welfare 256 1,791 (999) - 1,048
Big Lottery 144 1 (72) - 73
PCC 4 - (2) - 2
Community 245 578 (329) - 494
Government 68 (12) (56) - -
Health & Wellbeing 90 (55) (35) - -
MOJ 299 249 (374) - 174
Legacy - 41 - 41
SRASAC 114 541 (521) - 134
1,220 3,134 (2,388) - 1,966

58

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

22 Analysis of group net assets between funds

Unrestricted Pension
funds Reserve Restricted Total funds
31 March 31 March funds 31 March
2024 2024 31 March 2024 2024
£’000 £’000 £’000 £’000
Tangible fixed assets 1,557 - - 1,557
Cash at bank and in hand 859 - 707 1,566
Other net current
assets/(liabilities)		 (198) - 1,675 1,477
Other long term liabilities (2,573) - (2,573)
2,218 (2,573) 2,382 2,027
Unrestricted Pension
funds Reserve Restricted
31 March 31 March funds Total funds
2023 2023 31 March 2023 31 March 2023
£’000 £’000 £’000 £’000
Tangible fixed assets 1,653 - - 1,653
Cash at bank and in hand 50 - 842 892
Other net current 215 - 1,124 1,339
assets/(liabilities)
Other long term liabilities (2,213) - (2,213)
1,918 (2,213) 1,966 1,671

23 Related party disclosures

There were no related party transactions for the year ended 31 March 2024 (2023: 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.

59

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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
2024
£’000
775
170
104
(1)
(59)
1
67
(205)		 Group
2023
£’000
(107)
187
52
-
(317)
-
(1,153)
(155)
(1,493)		 Charity
2024
£’000
775
159
104
(1)
(59)
1
17
(281)		 Charity
2023
£’000
(107)
173
52
-
(317)
-
(870)
(162)

852
714
(1,231)

25 Analysis of changes in net funds

The charity had no debt during the year.

26 Operating lease commitments

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

Other Other Land and
buildings		 Land and
buildings
Group Group Group Group
2024 2023 2024 2023
£’000 £’000 £’000 £’000
Expiring:
Within one year - - 490 264
Between one and five years - - 454 101
In more than five years - - - 23
- - 944 388

60

The YOU Trust Notes to the Financial Statements For the Year Ended 31 March 2024

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
2024
£'000
Group
2023
£'000
914
1,397
575
916		 Charity
2024
£'000
Charity
2023
£'000
384
925
464
768

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
2024 2023 2024 2023
£'000 £'000 £'000 £'000
Carrying amount of financial assets
Trade Receivables 901 1,196 371 724

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
2024 2023 2024 2023
£'000 £'000 £'000 £'000
Financial Assets:
Cash and Cash Equivalents
Sterling 1,566 892 1,119 583

61