Charlty Reyl$tratlon No. 0296372 Company Registratlon No. 02081759 (England and Wales) HOUNSLOW ACTION FOR YOUTH ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
HOUNSLOW ACTION FOR YOUTH ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trustee E Longhurst C Martin Dr Amrit Sachar M Begley S Oumouas5an (Appoinled 6 October 20201 IAppoJnted 11 November 20201 Secretary JLSmrth Charlty number 02%372 Company nUer 02081759 R•glsterÈd offlce Mount Manor House 16 The Mount Guildlord SurTey United KJ"ngdom GU2 4HN Audltor A2ets Audit SeMc85 16 The Mount Guildford Surrey United Kingdom GU2 4HN
HOUNSLOW ACTION FOR YOUTH ASSOCIATION CONTENTS Page Trustees, report Independent auditoffs report 8-10 ststemenl of finanaal aclivilies 11- 12 Balance sheet 13 Notes to the finanaal slatements 14-24
HOUNSLOW ACTION FOR YOUTH ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their report and finanual statements for the year ended 31 March 2021. The finanual ststements have been prepared in accordan with the ac¢Dunts"ng poliues sel out in nole 1 to the financial slalernents and comply with the Charity's Memorandum and Artsdes of Asso¢i8tion. the Companies Act 2006 and "Accounting and Reporting by Chants"e5." Stalement of Recommended Practice applicable to tharilitrs preparing th6yr ac¢Dunt5 in accordance with the Finanaal RepO"n9 Standard applicable in the UK and Republic th Ireland IFRS 1021 leffe¢tsve 1 January 20191". ObJe¢tlve$ and •ctivitl•s In the Interests of social reFi&bililatson and in furtherance of publiG education to pmmote and develop in collaboration with Dlher bodies and organisations within the London Borough of Houn51ow ILBHI. new ini118tives for children and young people sn trouble with partIr, but not exdusive. relenCe lo the provision ol altematives lo residentyal care and cuslDdy. 'S 81 enefit rovide the charit The vision ol the charity Is to promote and develop progr8mmes lo meet the soo81. cJJltUTal 8nd educats"on81 neeos to children and yDung people within L8H. particularty those al risk of sooal exdu$ion. and show Ihern possibilities that they might not have imagined. Wthin the sale enwronmenl of Belvedere House, si11181ed in one of th& UK'5 poorest urban aa5, and In collaboratson wth other bodies, HounOW Acb"on for Youth IHAYI offers vulnerable young people opportuniknes lo leam skills, develop confidences and make new fn"ends. An ion iv Hawng felocaled frorn the HanwDrth Centre. the Ch8nty's home for twenty years. lo thrtre strategillY placed operating siles 8cross the borough, we are delighled that the HanwDrth Centrg contsnues lo be used by omrnunity organis8tion5 lor youth sports. This is our leg8Gy lo the community. The move to three siles is part ol our long-lemi strategy lo promde a more agile, tlexble. and far-re8ching serwce In 8 cosl4lects.ve w8y. Drawing on our expertise In developing community assets. we are using our new service delivery model to work in partnership with business. slatulory, and community organisalions 10 work from under-used community assets to deliver our services and work with a broader range ol community partners, lapping into additional capabilities and capacrty. This relocation lo Ihrets sites pul LSS in a very str¢)ng poS"0n to me&t the challenges during ihis year'$ Coronavirus pandemic, when we experienced unprecedented demand for seNc*8 auoss the borough. With strong systems already in place, gnd %wth the help ol our spec3alist Digitsl Arehitect volunteer, wè were able lo provide a rgpid response conversion lo secure and creative digital online plèifomis to deliver most of our programme$. Going fornvards, digital serwces wll continue lo be part of our serwce delivery lo ensure accessibility and dynamic landscapes of leaming. We dd1ved 500 grotsp and indiwdual digital sessions to young peOe and families during lodi4own. Digitsl serwces also enabled us to provrde high levels of traTrning and supeNsion lo our staff and volunteer team. Tele hone ort Seices We established a telephone support service. pr()¥iding support for young people and parents from moming to earfy evening8 ¢tsuring the pandemic. meeting the needs of parents wth complex ¢anng responsibilities. Th15 seTrice also enabled us lo regularfy consult Wlh indiwdual families to monitor and respond lo changing pattems of need during the pandemic. Telephone seTwces lowed u5 to sustain a high level ol emtstion81 and practical support to families wlh mults.ple and Complex needs. We were also able io signpost families to food banks and tsn4ine senrices and leaming resources for children.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Post We packaged family leaming packs and delivered these to famflies during lockdown. Thèse were invaluable lo families who did not have 8ccess to W-fi. computer5. or other devices to 8ccess our digital programmes. We 8lsu delivered seedlings 8neJ plant5 to help families who did not have access lo outdoor spaces to bring plants inside their homes. As part ol Youth Bonds Project. young people and our bustness partners developed a g8Tden within the grounds of Befve(Jere House and planted It wrth a wde range of flowers and soNe vegetables. Socially exeluded and marginalised young people have benefrted from developing a valuable community resource whi151 developing themselves and participab.ng with their community. Thts garden and our 8llotmenl have provided valuable eCtheraPY adiwlies duiing the pandemic, at times when meetings outside were pernlitted. We were able lo develop these additional means of support in response to the physical and mental health eeds of children and families during the pandemi As part of our commitment lo cdeVelOp$ng serw¢es with young people and families and othtsr stakeholders, we monitor and remew HAY'S semces regularly lo ensuTr they are effe¢*ve and cost-effiryent. meeting the needs of the most vulnerable young people and families in our community. Evalualing our servi¢es and responding lo the needs of the young people and families contsnues to be a priority for HAY and we have a dedicated leam of sorial research volunteers and search consultants, as well a$ membership with NCVO, Ealing & Hounpjow CVS and other monitytng and evaluation trwning and resource bodie8. We continue to maintain goo¢J relatsons with those grant-giwng loundalions that support our work, whilst cullivatsng relationships wih prospective dortor5 in or(ler Ih8t we can conb'nue lo diversify our income streams. During the pandemic. HAY was able to seojre CoMd-19 emergency funding from several funders which induded The Youth Endowment Fund (YEFI. the London Community Response Fund. CAF Coronavirus Emergency Fund. National Lottery Awards for AJI, and 88C Sooster Grant. 1 of which have conlnbuled to HAY developing and tr8nsilioning to a mgrg digilal appfoach. We conts'nue to geek funding for core costs As well as project funding and have been able to secure grants Irom Ihe Garfield Weston Foundation and also two large grant5 from the Emmanuel Kaye Foundation and the National Lottery Reaching Communitses Fund. Staff and young peOe also cwtinue to raise funds for proieas and a¢trMtses. We continue to dfjvelop good working rdats'onships with corporate partners, which indude Apple, who have supported the development of our 20.20 Youth Vision Project through both fundin9 and their technical expertise. mm uidance The Insstees have paid due gard lo guidance issued by the Charity Commis&on in deciding what 8dvib.es the tharity should undertake.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 HAY'8 Piogrammès You h Bonds Pr This projed has been delivered digitally via ZoLTrm online sessions throughout most ol the year. The pandemic caused a signfficant dèdine in the menlal health of the children. young people and families we work wrth. Not only were they worried about their physical health bul many of them were confined for monihs in cramped and poor housng conditions with no outdoor space. Cusltsmised emotional wellbeing p8ck8 were senl out lo families according to their individu81 needs. 100% Of parents reported that these improved family Telationships and the beba¥Aour of children who were slfuggling lo cope during the Istslating experience of lod(down. Weekly digital group workshops and one to one 5ppOrt were provsded for young people in place of their daily group support seTrices. Zoom Educab"on was used. These services supported young people struggling wlh confinement, lack ol routine. drfficJJltses managing emotions and behaviour. The young p*ople look part in maTry workshops induding co0.n9. arts, artleco therapy 8nd games sessions. IODV. of parents reported that their children were meaningfully engaged and were able to sustain their teaming and found the session5 Stimulating and enjoyable. Paienls also reportèd that it was gOC)d for their own rnental health lo receive support and to benefit from the respite thal workshops prowded 0$ they loo felt isolated. alone, and concerned about the future. Our online sessions allowe¢F families to connecl wlh eèth other and prowded structure ID their day. We we 8ble to send th&m the maienals and equipment needed for the dioit81 sessions so they could eng8ge with our inleractsve sessions. This had a direct Impacl on Ihe wellbeing and mental health of thildren. young people and their families as it provitjed daily structure and enabled them to conned wlh staff and other young people in the absence of phy&cal contact wilh family and th"eniJs. Yo n - Our Agents for Change Young Women's Witing ProjeLI enabled vulnerable young women to develop core skills and to use their Wriiing to arnlty issues affecting other young women, becoming agents for thange. They were able to wnle about Iheir lives antj Issues parb'cularty in relab.on lo Cowd -19, National Lockdowns and the Black Live5 Matter movemert Their woth has inspired our 4th YoLmg Women's th.ting Anihology. Monumeftts. whickn is in progress and will be ready by mid summei. The digital sessions enabled young women to develop and sustain vital soaal networks and also wrile about the curreni thallenges af coronavirus, engage in group work and creats'wty and engage in nomalisina and leaming activities vthilst school8 and colleges were dosed. As a result of the pandemic. we were atAe lo devdop robust digitafiwrtual platrom)s which supported Ihe change in empha&s from a f8ce-tO-face model lo o digit81 model. We were able to apply for and were successful in receiving Covi&19 grants which helped u5 to respond and develop a fasl-tesponse senrices to vulnerable families with Iiltle or no home resources. unle Our Volunteer Manager has developed our volunteer training and Supervision programmes and systems. Our programme of support now Indudes digital Indimdual supemsion as well as monthly group training and 5upervisiDn from a r8nge of speaalisl consultant5. We are committed to prowding igh levels of training and support for our dedicaled and highly trained pool 01300 volunteers and wll sustain our collaboration with our local Volunteer Cenlre. NCVO, London Yothh. Partnership for Young London ond other volunteer training bodies to ensure our volunteers have ae$S lo high quality training.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Achlevéments and perfornmnce The tharity rA)ntinues to fewew Its programme6 and the fvnding available to them. Through our partnership work tSnesSes. cofflmunity groups, and educats'on sectors. we conb.nue lo increase in-kn'nij support from local bunesSes. eilucaty"on, and arts partner& for the benefit of young people and Iheir tamilies. HAY staff have been Irain8d as Mental Health Firsl knders and also in Digit81 Youth Work," are better able to identify and refer young peOe with ment81 health drfficvllies". and also provsde emotional health sUPPOrt, particularty drfficulbes arising from the pandemitt We are cgmmitted lo continue building local relationships. working with youth agenues, bLk$iness partners in our local community to help us achieve our goals. This support conts.nues our developrnent of our pool of dedic8fed and highly trained volunieers. We supported 800 young people and parents this year. ()Jr end 01 year consultations wlh young people found.. 85Yo are less lonely through wjstaining engagement throughout Cowi&19 resth'cb"ons. 90% have improved emotional wellbeing by reg¥Jlarly seeing their youth workers and peers throughout Covi¢>19 reslncts"ons. 85Yo of parents have seen a Posblive impact on their thild's ment81 healih. 890/0 children Improved behaviour with par&rrts porting improve<J family relationships and welkbeing. 94YJ of parents reported that the telephone support they feceived Improved their emots'on81 health. particularly during the lockdowns. 80Y were referred lo essentral serwces. 80¥0 ol young people have imwoved leaming and personal development ihmugh our onliné acb'vitie5. Young people who struggled with daily routine and managing difficult feelings and emolic¢n$ have learnt mechanisms for coping wth uncertainly and managino behaviour, pa.larlY relating to 8nxiety arotsnd CoMd-19. We increased the scale of our remote 8ssislance to the mosl wlnerable families. Our newly developè(S digit81 and telephone support Systerns, knoedge and skills WIN enable us lo sustain remole assistance during any fijrther lothdown51reslrictions. All our youth WOTkers are digital youlh-work tr8ined, which h89 enabled us to improve the qu81ity of our digitised support services. Flninclal revlew iew of financ4 The charity received Income for the year 0¢ £374,354, had pro9ramme expenditu of e323,324 and 8 nel gain on its investtnent of £25.065. The overall surplus of £51,626 was 8dded lo brought foTh¥8rd fvnds leawn9 unuseé fvnds of £278,129. The approved poliw for Design8ted Reserves is 81 an amount equal to four month5 expenditu lor programmes not covered dedic81ed funding and the charitys own cosis. For the ojrreni period this has been calculated at £35.0001202Ct- £65,000). As UnStriGted reserves, induding the Designated Reserve, exceeded £95,000, and subsequent lo the year end a further £35,000 of CO cost fvnding was received, the Trustees were sab"sfied that the Charity remained going CDncem.
HOUNSLOWACTION FOR YOUTH ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 andh inthe ed the ari Funding for our adiwtie5 during ihe year came Irom grant giwng foundab.ons {68.2%), indlwdual donation 11.0%), oovemmenl and local authonty129.6V.l and investment income11.2¥.1. Operating expendibjre has been in¢yJrred in staff and progr8mme costs paid from Stricted funds raised for the purpose 178.9%). actiwbes 16.4VAI. Premises costs 13.1Ypl and charity eendIture from unreslllcted reserves 111.6¥o1. Balances remaining on restn.cted lund8 at the year-end arè nntrfenced for use in fLtlure finanuBI year8. Surplus lunds are irsvested in the CCLA Charitse5 Investment Fund which is an easily a(xossible ¢Jiversified fund designed lor Charities. The Trustees review the investment at eath board meets.ng The which os rewews and In omi The trustees has assessed the major risks to which the charrty is exp03ed. and Are 5gtssfied that 8yslem& ere in plgce to mitigate exposure to the major risks. The chanty maintsins a risk rtsgister based on 8 tsIM? of potentia risks, ranked 13 8 traffic light system, 8¢cording to the 899931t of likelihood and severity of impact. This is kept under regular review and is form8lly updated once a year. 11 was updated in in light of the COVlth19 health cri&s. in June 2020. This exercis¢ led to an 'upgrading' of the risk ol the loss of Tnjslees. however, trustees conduded that the existing mitigatsons remained approwiate. The prinapal risks lacing the Charity are.. Overspend on existsng programme5. resulting in unsusiainable finanoal run rate and reserves POSltion, This is mits'galed by quarterly rewew of revenue, costs and reseeS by programme by tha Tnjsttses and regular monitoring ol forecast spend by both stsff and Trustees. Inabilily to raise new money, resuking in inability to conbnue as 8 going concem. This is miligaled by usng an employed fundraiser. wth dear goa15 and regular progrtsss reports lo the Board and by oppoinling a Trustee with fundraising expenence to guide strategy. Failure to ensure the ongoing commitment and perfomiance of Twslees. leading lo poor govemance ond alack ol strategic direction I planning. This is mitsgated by mainleining an appropriate balance of 8ki115, ewdenced by skills audit, by a proactive Trustee recrurtrnent campaign and an annu81 review of Trustee attendance and coniributson by the Chair. f1na The charity pfans to rnainlain all of its e$tIng programmes within any potential funding constraints bul bearing in mind its level of reseNes. The charity will continue to remew its programmes In the light of reslriclions and reductions placed upon 115 budgets. as well as looking Into developino further the range of where funding is available.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Struclure, govemance and management The charity is a company limited by guarantee and does not have share caprtal. It is InrPOrated undèr the Companies Act 2006, Ihe goveming instrument being the Memorandum and Arts"des of Assoaatr"on dated 3 September 1986 (updated 25 Juty 20161. The Iruytees, who are also the dire¢tDrs for Ihe purpose of company law, and who served duang the year and up lo the date of signalure of the financi81 statements were.. J Lsmith (Resigned 13 October 20201 l Bryant (Resigned 12 July 20211 A Firlay (Resigned 25 J8nu8ry 2021) M E Longhurst C Martin Dr Amrit Sathar M Begley S Oumou85san (Appointed 6 Oclober 20201 Ipnted 11 November 2020) Th• m•thod$ adopted for the reerultment and appo5ntment of new tru$tee• New trustees are typically recommended to the charily through personal io)iroducts"on5. However, this year we have eontinued lo pvl advefls out locally and on 50ual media to Inuease the ach. Potential tnjstees are onsidered by the Nomin8tsons Committee for Ihetr relevant experience whith VAII widen or 5UPPOrt the balance of ski115 of the esknng trustee3. The pollcl•s and pro¢¢dures adoptsd lov the Indu¢tlon and tralnlng oltru•tee8 New trustees a inducted thrDugh meetin9s with the Chairman. trustees. and Translion Director, plus a to 8 Youth Programme and meetings senior man8ger8. None ol thts trustees has any benefic181 Interest In the company. Ajf of the trustees are m•mb&rs of the company and guarantee to contribute £1 in the event of o wintJing up. The oryanisatlon stru¢ture of the charlty and how declslon5 arn made The Board meets al least six limes per annvm and Ihese meetings are attended by the Transiliori Oirector. 11 d¢legales Its, and receives reports Irom. the SucoMMittees- Finance and Employment and Nominats"gns. The Transit40n Oirector is accouniable to the Iwstees and reports to the Chairman and D8puty Chaimian.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION TRUSTEES, REPORT (INCLLIDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Statement of trustees. responslblllties The Iruslees, who are also the directOTS of HounoWACIlO For Youth Assoaabon for Ihe purpose of company law, are responsible for preparing the Trustees, Report and the ffinanc4al statements in a¢cordance wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practs'cel. Company Law requires the trustees lo prepare financial slalemenls for each finanryal year which give a true and fair view of the State of affairs of the eharity and of the incoming resources and application of resources. incluijing Ibe Income and expenditure. of the charitable MpanY lor that year. In preparing these finanoal statements, the trustees are required to". select suitabl8 accounting polictes and then aPY them consistentty.. - observe the methods and principles in the Charib'es SORP", - make ldgeMentS and eslimales that are reason8t4e and prudent.. $18le whether applicable UK Accounting Standard5 have been followed. subject to any malerial departures d15do$ed an¢J explained in the finandal stalements.. and prepare the financial slalements on the going concern basis unless it is ipprOpriate lo presume that the charity will continue In operation. The trustee5 are responsible fcir keeping adequate accounbng records that disclosa wih reasonable accuracy al any time the financial position ol the charity and enawe them lo ensure that the financial s18lemen18 comply with the Companies Act 2006. They are also respon51ble for safegu8rding the 8sset5 of the charity and hence for taking r&a8onable steps for Ihe prevenbon and delection of fraud and other irre9ularitiets. Disclosure of Infomiatlon to audltor Each of the Iruslees has confirmed Ihal there 1$ no infomi81ion of which they are aware which is relevant lo the audit, bul of which the auditor is unaware. They have further confimed that they have taken appropriate steps to identify 5uth relevant information and to establish that the auditor is aware of such information. The Irustee8' report was approved by the Board of Trustees. M E Longhursi Trustee Dated.. I I l.:'.t.L2 0 I
HOUNSLOW ACTION FOR YOUTH ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HOUNSLOWACTION FOR YOUTH ASSOCIATION Opinlon We havé audited the financial statem8nts of HcHJnslow For Youlh A580aalhJn (thè 'charity'l lor the yoar ended 31 Mar¢h 2021 which comprise the statemenl of financial activrt¢es, Ihe balance sheet and the notes to the finan¢ial stalemenls, iftduding a SLHnmary of significant aCCOLnling policies. The fin8ncial reportin9 Iramwrk that has beèn applied in thèir preparation is appll¢able law and United Kingdom Accounting Standards, includlng Financial Reporting Standard 102 The Financial R&poth'ng Standard applKable in th$ UK and Reptsb1 of Ireland (Unrted Kingdom Generalty Accepted Accounting Practice). In our opinion, the financial statem8nts- glve a tnje and fair view ol the slate of the th8rttable companys 8ffairs 85 0131 March 2021 8nd of its n¢oming resources and applicats'on of resources, for the year then endtrd: have been propèrly prepared in a¢¢ord8nce with Uniltrd Kingdom Gefiernlly Accepted Accounb'n9 Practi¢e.' and havè been prepared in accordance with the requirements of the Companies Act 2006. 8asl$ for oplnlon We conducted our audh In accordanc8 Inlefnational Standards on Audrtrng IUKI IISAS IUKII and applicable law. OLsf Spot)51b11I1IeS under those sl8ndar¢Js are lumher d8$¢ribed in the Audilols respon6ibiliti&s for the audit of financial statements seclion of our report. We arè tn(lependent ol Iho charity in accordance with the ethical requirements th81 are relèv8nl to OUT audit ol thè financial slalements in tho UK. including tho FRC'S Ethic81 Standard, and we have fulfilled our other ethical responsibilitie$ in accordan wilh Ihe5e requirements. We bglleve that the audit evidence we have obtained is suificienl and appropriate lo provide a basis foi our opinion. ¢•n¢lu$lons r•latlng to 90Ing conc•rn In auditing th8 financial statements. w8 havè condudgd Ihal Ihe Iwsl008' use of th• going conrn basis of accounting n the preparalj.on of the finan¢ial slatemenl5 is appropn81e. Bas•d on the work have perfomwd. we have not idenllfied any mat8rfg1 urthrtainlios re181ing to 8v8nls or conditions that, individually or ¢olle¢lively, may cast $Trl¢ant doubl on the charity's ability to ¢onlinue as a going ¢oncem lor a period of al least e1Ve mnlhs from when Ihe financial ststements are aulhori5gd for issuè. Our responsibl1leS and the r•spon8ibilittes of the Iruslees wilh respgct lo going concem are de$crlbed in the relgvanl sections ol this report. Oth•r Infomiallon The other informalKJn comprises Ihe inlormation in¢luded in th6 annual report oth&r than the financlal stsloments and our 8uditor's report thereon. Thè tru$le8s are responsible for thè other inforniallon contained wllhin the annual report. Our opin¢on on Ihe financial stslernenls does not cover the othe¥ infomialron and, except to the extent othenwse explicilly stat8d in our report. Wg do not express any form ol assLtran¢e conclusion thereon. Our resptsnsibilily is to rèad the other infom8tion and, in d¢ing so, wnsider wheth&r the other inforMatn is materially inconsistent with the financial statements or our kno%•Aedge obtsined in the Course of the audil, or otherwise appears lo be materially rnisstaled. If we identrfy such material inconsistencies or apparent material misslalements, we ale required lo dèlemine whelher Ihis gives rise to a material misstatement in the fiancial stat6menls themselves. If. based on th& work we hAv8 rforrned, o)ndud8 that there a mater181 rr11551atemenl of thi5 other information, we are reqijired lo report that facl. We have nothin9 to report in this regard. Oplnlons on other matters pr$¢ribed by th¢ Companies A¢t 2006 In o(Jr opinion. based on the work undertaken in the coursè of our audil.. the information given in the trust&e$' report. which indudes the dwectOTS' report preparèd for the purposes of company law. lor the financial year for whKh the fin8nrAal slatenwts are prepared is consislenl wllh the financial statements- arKI Iho directors, port included wthin Ihe trustees. re¢ has been prepared in accordance with appIlble legal requirements.
HOUNSLOWACTION FOR YOUTH ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOUNSLOWACTION FOR YOUTHASSOCIATION Matt•rn on which wg ¥r¢ requlr•d to r•port by •xc•ption In the light ol the knoledge and understanding of the ¢har¢ty and its onvironment obtAiAed in the course of the audit. we have not id@nttf rnaterial mi$stslemen15 in thg directOTS' retwl cIl5ed ¥wthin the trustees. report. We have nothing lo report in respect ol the following matters relation lo which the Companies Act 2006 require5 US to rèport lo you if. in our opinn.. adequate accounting records have nol been kept. or ielums adequale for our audtt have not been received from branchès nol visited by us.. or è finanual slalements are not in agreement with Ihe accounlit)g records and reluyns., or certain disclosures of trustees, remuneration Spe¢rfd by law are nol made., or we have not received a51 the information and expl8nations we r8quir8 fw our audit; or the trustees were not entitw to prepare the financial siat&ments in ardanCe wilh tho small companies regime and lakg advantage ol the small companies. 8¥ernptitins in preparing thè InAslees' T8POrt and from the rèquirement to prep81e a strategic report. R•¥ponslbllltl•s of trust••¥ As èxplained more lully in the slat8mènl of trusle&s' responsibilles. Ihe trustees. who are also the dire¢lors ol thè charity for the purpose ol company law. S spOnsible lor Ihtr preparation of th& financial slo18menls and for being ¥alisfied that they give a twe and fair view. and for Such intemal conlrol as the Iruslees dolormine Is necessary to enable the preparation of financial slatem8nl$ that are free from rnalerial misstatemtrnt, whether due lo fraud or error. In preparing the financial stalemenls. th& Iruslees ar8 rosponBible lor assassing the chartty's ability lo continue as a going concern. disclosing. as applicats, matters related lo going concern and uslng the going concern basis of accounting Un$$ the trustees eilher inlend to lsquidale the charilablg company or lo ¢98s8 Operations, or havo no roalislK allematsve bul lo do so. Audbtorfs r•spon$lbilitlo5 for th• audlt of t finan¢lal ¥tat•m•nts Our objectives ar& lo obtain ieasonable assurancè about vthethar thè financial stslements as a whole are free frorn material misstatement. whether due to fraud or error. and lo issu¢ an audilorfs report that includes our opini¢n. Raasonable a5suran¢e Is a hh level of assurance bul is not a guarantee Ihal an audit ¢¢nducled in accordance with ISAS IUKI will avaYS delecl a materKal misstatemenl when il exists. Mis$lalemenls can arise from fraud or error and are ¢on5idefed materi81 if. individually or in the aggregate. they could roasonably be expecled to inffluence the economic ¢JeusK)ns of users laken on the basis of th&58 tinanoal statèments. A further description of our respon51bilities 1$ available on Ihg Financial Reporting Ctsuncil'$ wabslto al.. http$.'Il www.frc.org.uklaudilor8responwbi1it$. This desGr¥)IK)n forms parl ol our auditorfs report.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HOUNSLOW ACTION FOR YOUTH ASSOCIATION Extent to whl¢h the audlt was consider•d capable of detectlng Irr•9ulariti•s, Sncludin9 fraud Iregularities, including fraLsd, are instanc85 of non-compliance wrth laws and regulations. We dgsign proCedUS In line W¢h our responsibilits, outlined atKJV8 and on the Financial Reporting Council's website. to dètscl material rnisstatemenls in respect of irregularilies. includirhg fraud. We obtaln and update our understandiry of the 8nlity. its activities, its control enwronment, and likety fulurg developments, including in relation to the legal and regÈtalory framewofk applicable and how th$ entity is complying with that Iramework. Based on this understanding. we idèntity and asstr$5 the risks ol materlal m15Statement of the finanrAal statements, whelher to Iraud or error, design and perform audit procedures responsive to those risks. and obtain audit èvi(lence that is suffi¢ienl 8nd appropriate lo provide a basis lor our Opinion. This includes constderatson of the risk of acts by the entsty that were contrary lo applicable laws and regulations. including Iraud. In response to lh8 risk of irtegularlties and nonthc0mp1lar with laws and r8gulalions. including fraLsd, w8 desBned protsdures which Included.. Enquiry ol man8gernenl and Ihose charged with govgmane around adugl and potenlSal livgallon and daims a$ well as actual. suspected and alleged fraud,. R8viewing minutès of m8etings of those charged wsih gOVomance', Assessing the extent ol compliance wrth the laws and I18t1¢n$ cons¢dered io have a direct matèri81 effect on the financial statements or the operation$ of tho entity through ehquiry and insp8ction', Reviewing financial statement disclosures and te$ling lo supportin9 documentation lo as$gss complian¢e with appli¢ablg laws and regulation$', Performing audit work over th8 risk of management bia$ and override of ¢onlrols, includin9 tesllng ol journal enlri83 and other adlLbslm6nls foi appioprialeness. ev8lu81ing lh8 bu$inos$ ralionole of snIfICant transactions outside the nOTmal course ol business and revi&wirtg accounts'n9 estTrmales lor ndi¢alors of potsnbal bias. Because of the inherent limitstions of an 8udil. there is a risk that we will not dete¢t all irregulènties, including Ihose leading to a malerial misstalemenl in the finan¢ial slalements or non-¢ompliance with iègulalion This risk incr&ase$ the mortr that Compliance wilh a law or regulation Is rèmoved from the èvents and tran$a¢lions renected In the financial sl8tements. as we will be less likely to bem awar& of insl8nc8s of non. compliance. The risk of not detecting a malerial misstatement resulting from fraud is higher than for one resulting from èrror, as Iraud may involve collusb)n. forgery, inlgnlional omissions. misrepresenlaiigns, or the override ol inlemal control. Us• of our r•part This report is made solely lo Ihe charitable company's members, 8$ a body, in a¢¢ordance with Chaptèr 3 of Part 16 01 lh¢ Compan¢es Act 2006. Our audil work has been ¢Jndertakèn so Ihal we mKJhl stale to the charitabl company's members those malt6rs we are required to st8le lo ihem in an 8uditors' report and lor no other purpose. To the fulle$l extent permitted by law. we do not ac¢epl or assume responsibility to anyone olher than the charit8ble Company and the tharitable compan5 members as a body, for our audii work, for Ihis report, or for the opinions we have formed. Robèrt South•y (Senlor Ststutory Auditor) for and on behalf of Azots Audll Servl¢es Charterod A¢rountsnts Statutory Auditor 29 Septemb&r 2021 Mount Manor House 16 The Mount Glsiklford Surrey United Kingdom GU2 4HN 10-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 CuThent finan¢lal yeaf Unrestricted Restrfcted funds funds 2021 2021 Total Tot81 2021 2020 Notes Donations and legaThes Charitable actiltieS Investments 107,052 262.990 370.042 311.467 96 4,425 4,312 4,312 Total Income 111,364 262.990 374,354 315,988 Raising funds 9,897 9,897 15,806 Charitsble actiwlies 33,727 279,700 313.427 305,OBO Total rnsources exnded 43.624 279.700 323,324 320,886 Nèt gainslllo$sesl oft inveStmts 11 25.¢ 25,C65 13,9391 Net IncomlnglloutgoSngl resources befor¢ tronsfern 92.80S 118,7101 76.095 {8,8371 Gross transfers between funds {36.1241 36.124 Net movement In fundi 56,681 19.414 76,095 18,8371 Fund balances al 1 April 2020 38,581 163,453 202,034 210.872 Fund balanc•$ at 31 March 2021 95,262 182.867 278,129 202,035 The slalemenl offin8noal acts"wties indudes all gains and losses recognised in the ye8r. All income and expendrt derive from continuing aclivities. The st8t&menl of finanual activits.es also c(xnplies wth the requirements for an income and e>wenditure account under Ihe Companies Act 2006.
HOUNSLOW ACTION FOR YOUTH ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Prlor flnanclal year Unrestrlcted Restricted fund¥s funds 2020 2020 Totsl 2020 Notes Donations and lega¢ies Chantable aclivits.es Investmenis 8.151 96 4.425 303.318 311.467 96 4,425 Total In¢ome 12,672 303,316 315,988 Raising funds 15.455 351 15,806 Charitable actiwties 20.387 284,693 305,080 Total rnsourcej expended 35,842 285,044 320,886 Nel gain61119ssesl on invesfrnents 11 13.939) 13,9391 Net In¢ornlnglloutgolngl re•ource$ before tran¥f•rn {27,1091 18,272 18,8371 Gross Ir8nsfers beNY¢en funds (11.290 11.290 Net movement In lunds 138.3991 29,562 18,8371 Fund balances at 1 April 2019 76,981 133,891 210,872 Fund balinces at 31 Mah 2020 38,582 163.453 202,035 The statement olfinanrAal aclivities indudes all ggins an¢J losses recognised in the year. All income and expenditure derive from ¢onb"nuing adivitie8. The slalement of financ481 actiwtie$ also complie5 with the requirements for an income and expenditure account under the Companies Act 2006. 12-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION BALANCE SHEET ASAT31 MARCH 2021 2021 2020 Notos Flxed assets Investments 12 146,145 121,080 Curr•nt ass8ts Debtors Cash al bank and in hand 14 29.619 126.091 19.634 91,225 155,710 110,859 Credltorn: amounts falllng due wlthln one year 15 (23,7261 129.9041 Nel current assets 131,984 80,955 Total assetsloss current Ilabllltl•$ 278.129 202,035 Incom& funds Reslricled funds 17 182,8fj7 163,453 Designated funds General unreslricled funds 18 35,000 60,262 35,000 3,582 95,262 38,582 278,129 202,035 Th financial slate ents were approved by the Trustees on M E Longhursl Trustee Company Reglstration No. 02081759 13-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting polltle8 chatY Infomsailon HoUOW A(lion For Youth Assoa81itsn 15 a private company limited by guatee incorporated in England and Wales. The registered office is Mount Manor House, 16 The Mount, Guildford, Suffey, GU2 4HN, United Kingdom. 1.1 Accountln9 ¢onvntlon The financial slalernents have been prepared in accordance with the tharity's Memorandum and Artides of AssocAation. the Companie5 Act 2QQ6 and 'ACcnting and Reporting by Charith'es.. Statement of Recommended Practice applicalle to tharilies prepanng their accounts in accordance with the Finanoal Reporting Standar<l applicable In the UK and Republic of Ireland IFRS 102) leffects've 1 January 20191" The ch8nty is a Public Benefit Enb"ly as defined by FRS 102. The tharrty ha5 taken advantage of the proV70S in the SORP for tharities applying FRS 102 Upd8te Bulletin 1 not lo prepÈre a Slalement of Cash Flow& The finanual statements 8re prepared in sterting. which is the fundional ¢trenCy of the charity. Monetary amounts in Ihs finanual statements 4re rounded to the nearest £. The finanaal slalernents have been prepaied under the historic cost eonventson. The pnncipAI accounting polioes adopted are sel out belijw. 1.2 Golng concern A$ g re5uII Of Covi(k19 the chRrity has been able to 8ccess several grants lo provide an online seNce during lockdown. ESts"ng programrnes have also been oNe lo conts'nue online due lo the additional support of two existing funders. ThelOre Al the lime ol approwng the financial statements, the trustees have a reasonable eXpecta.0n th81 the tharity has adequaie resources to continue in operational exisience for the foreseeable future. Thug the trustees ntsnue to adopl the going concem ba's of accounting In preparing thè finanaal staiements. 1.3 Charltable fundts Unreslncted lund$ a available for use at the disttetion of Ihe trustees in furtherance of Ihelr charitable objethives. Designated funds comprise funds vthich have been Set aside al the discretion ol the $tee5 for specnl¢ purposeJ$. The purposes and uses of the designated lunds a set out In the notes lo the finanaal statements. Restricted funds are subject to speafic con¢Jib"ons by donors as to how they may be used. The purposes and uses of Ihe Stricted fun(15 are set out in the notes to the finan statements. 1.4 Income Income is recognised when the Charity is legally etilitled lo it after any perfomiance conditions have been Tnel, the amounts can be measured reliably. and rt is probable that income will be received. Cash donations are recognised on receipt. Olher donats.ons are recognised once the charity has been notified of the donatsors, unless performance CA)ni1ib"ons require deferral of the amount. Income tax recoverable in relats.on to donations received under Gift M"d or deeds of cven8nt is recognised ai the time of the don8ts"on. LegaoBS are recoonised on receipl or otherwise if the thartty has been notsfied of an impending distribution, the amounl is known, and receipt Is expected. W the amount is not known, the legacy is treated as a mntingent asset. 14_
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounllng pollcles Iconllnuedl Don81ed professional senri(Ys and donated facAlib#S are recognised as incorne when the chanty has control ovtrr the item, any conditions a550aated wth the donated Item have been me( the receipt of the economic benefit from the use by the (arTty ol the item is probable and that the economic benefit CAn be measured lIablY. In accordance with the Charits"es SORP {FRS1021, the general volunteer time is not recognised. c receipt. donated profesonal Services and donat faalilies are cOgnIsed on the basis of the value of the gift to the chanty which is the amounl the chanty would have been wlling lo pay to obtain serwces or facilities of equivalent economic benefit on the open Maet." a corresponding amount is then recognised in eXpenditsj in the period of receipt. The charity receives govemment grants in raspect of project$ aimed at vulner8ble young people. Income from government and othtsr grants are recognised at fair value when the charity has ents'llemenl after any pertomiance conditions h8ve been mel, it Is probable that the income will be received and the amount can be m88sured reliably. If enbuemenl is nol met. then these amounls are defeed. In addition, the charity tsceived Ccmnamrus Job Retents'on Scheme ICJRSI fvndino dunng the year which Is recognised in the Slalement of Fin8ncial Aciivilies on an 4ccruals basis. Inve5trnenl Income indudes dividends interest. Interesl income Is recngnised using the effective interest method and diwdend tyicome is regnIsed 8s the thanty's right lo ee¢ve payment is established. f .6 Expndlture Support C051s are those that 85SlSt the work of the charity but do not direcdy represent chanlable actimties and Indude office $1$. govemgnce costs and administraiive payroll costs. They are incurtsd directly in support ol expenditure on the object5 of the chanty and indude project management carried out at (he arity's headquarters. 1.6 Fl¥d a¥•et Inve•tm•nt Fixed asset inveslrnents are initially rne8sure¢J at transath'on price exduding transartion costs. and 8 subsequently measured al fair value al each reporting date. Changes in lair v81ue are recognised in nel incomellexpenditurel for the year. Transacts'on costs are expensed as inojrred. 1.7 Cash and calh equ¢vat•nts Cash and cash equiv81ents Indude cash In hand, deposiis held al call wth banks, other short-term liquid investments with onginal maturities of th8 months or less. and b8Trk overdrafts. Bank overdrafts are shown wlhin borrowings in ojrrent liabilities. 1.8 Flnanclal Instruments The tharity has elected to apply the promsions of Sethon 11 'Basic Financial Instruments, and Section 12 'Other Fin&ncial Inslrumenl$155ues' of FRS 102 to al ol Fts finanaal instnJments. Finanaal inslrurnents ar& recognised in the th8nVs balance sheet when the tharity becomes party lo the contractual provisions of the Instrument Finaniial assets and liabilities are offset. wlh the nel amounts psented In Ihe fin8nc4al statements, when there Is a legally enforceable righl to set off the recognised amounts and there is an intention to settle on a nel ba5 or lo reali5e Ihe asset and setlle the liability &multaneou51y. 15-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accountlng poll¢le$ {Contlnued) Basic fjnan¢lal a55ets Basic finan0 assets, which indude debtors and cash and bank balan¢e$. are initiamy rneasured al transaction price incjuding transacb'on ¢osts and are subsequenuy carried at 8morts"5ed cost usin9 the effective interest method unless the arrangement constitutes a finanung transaction, where the transacty'on is measured at Ihe present value ol the future ceiPtS discounled at 8 mathet rate of interesL Finanaal assets dassffjed as receivable wthin one year are not arno"Sed. Basic financlal Ilablllties Basic finanaal liabililie5, IndL¢ding ¢retJilors and bank loans are initr.ally re¢ognised at transacts.on pri unles5 the arrangement constitutes a finanring transaction. the debt Instrumenl Is meawred at the present value of the futu payments discounted at a markel r818 of interest Finanoal 118bilities dassified as payable within one year are not em0Sed. Debt instnJmenls are sub5eqLtendy camed 4t amorbsed cosL u&ng the effective intèrest rate method. Trade ueditors Bre obligath.ons to pay for goods or seNces that have been acqutred In the ordinary course of operations from suppliers. Amounts payabl8 a daSfied as JrreftI liabilities il payment Is due within one year or less. 11 not. they 8re presenled as n0curn1 Iiabilitie$. Tr8de creditors are Coun1$&d initially at transaction pnce and subsequently rneasured at amortised cost using the effeth've inlerest mtsthod. Dtrrecognltion ol linanclal liabilities Financlal liabilib¢s are derecognised when the charitls contractual ¢Illa.0ns expire or are discharged or cancelled. 1.9 Employe• bèntffts The cost ol any unused holiday entitlement is reCognid in the period in which the employ¢e'8 servicès Are r$1Ve. Terminalion benefits are recognised immediately as an expense when the thanty is demonstrably committed lo terminal& the em OYMent of an employee or to prowde tennination benefits. 1.1Q Retlrement beneffts Payments to defined ujnlribubon retirement benefit schemes are charged as an expense as they fall du&. CrltS¢al •ccountlng estlmates and ludgements In the pica.0 of th& tharity's accounting poliaes, the trustees are requireil lo make judgemenls, estimates and assumpts'ons about the Carrying amounl of assets and liabilits'es th8t are not readily apparpnl from other sources. The esttmates and assoualed assumptions are based on historical experience and olherfadors thal are considered to be relevanL Aclual results may differ from these estsmates. The estsmaies and undertying assumpbons aTr rewewed ¢)n an ongoing basis. Revisions to aCuntIng estimates are recognised in the period in whith the eslimale is revise¢J where the revision affeds only that period, or in Ihe period of the reOn and fU[u per3ods vthere the revision affects both ojrrent and lulure periods. 16-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTRNUED) FOR THE YEAR ENDED 31 MARCH 2021 Donatlons and legacles Unrestrf¢ted Restricted ftsnd8 fvnd8 2021 2021 Tolal Unrestricted Restricted funds fvnds 2020 2020 Toial 2021 2020 Donations and gifts Grants 1.474 105.578 2,198 260,792 3,672 366,370 6,151 2,000 214 303.102 6.365 305.102 107,052 262,990 370.042 8.151 303,316 311,467 Investments Unrnstrlcted unrestn.cted funds fLJnds 2021 2020 Investment income Interest receivable 4,277 35 4,193 232 4,312 4,425 Ral$lng fvnd Unrestrlcted Unrestricled Restricted funds funds funds 2021 2020 2020 Total 2020 Olher fundraising costs 9.897 1 S,45S 351 15,806 9,897 15,455 351 15,806 17-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Charltablè activltles Youth work Youth vlork 2021 2020 Stsff costs Actimties Expenditure Minibus Hire Equipment for Athwtses Groceries Equiprnent Volunteer meals 8nd travel Trips Programme workshop and mentoring 176,735 6,811 47 7,288 125 1,677 182,719 10,277 8,177 124 2,468 767 290 2,593 46,180 7S,026 269,649 253,595 Share of support Costs (see note 71 Share of govemance ¢p$ls (see note 7) 28,124 15,854 43,775 7,710 313.427 305,Q8Q Analys1$ by fund Unrestncted funds- 9eneral Restn"cted funds 33,727 279,700 20.387 284,693 313,427 305,080 18-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Support Costs Sw)port Governance Costs Costs 2011 Support Govemance CAlSts 2020 Other staff costs Premises costs TelecornmuniGqtion5 and computer costs Administrative co818 Insurance PPE and clothing Sundry expenses 5,874 9.860 5,874 9.860 5,008 27,079 5.008 27.079 6.158 3,282 1,875 962 113 6.158 3,282 1,875 5,182 4,071 2,435 5,182 4,071 2,435 113 Legal and professional Consultancy costs 12,784 2,870 12,784 2.870 3,510 4.200 3,510 4,200 28,124 15.654 43,778 43,775 7,710 51,485 Analysed b*Nveen Chan(able activibes 28,124 15.654 43.778 43,775 7,710 51,485 Audltorfs r¢muneratSon The analysis of auditorfs remunerabon 1$ as follows". 2021 2020 Audit of the tharitys annual a¢Unts 3,540 3.300 Total audlt fees 3,540 3,300 Truslees None of the Ir115tee5 lor any persons connected with them) received any remuneration or benefits from the Ehanty durinG the year. 19-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 to Eryloyeès Number of employee5 The average monthly number of employees durin9 the year was.. 2021 Number 2020 Number 12 15 Employment eosts 21J21 2020 Wages and salanes Sooal security costs Other pension costs 159,178 11,250 6,307 166,069 1J.023 5,627 176.735 182,719 There were no employees whose annual remuneratson was £60.000 or more. 11 N•1 galn811lo•s¢BI on Investm•irt Unrestrlcted Unresiricted funds funds general general 2021 2020 Revaluation of investments 25,065 13,9391 12 Flxed asset Investment* Ll8ted Investments Cost or valuatlon Al 1 April 2020 Valu81ion changes 121,080 25,065 Al 31 Marth 2021 148.145 Carrytng amount Al 31 March 2021 146.145 Al 31 March 2020 121,080 20-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 12 Fixed asset Investments Icontlnuedl Flxed asset Investments revalued The historicat cost of the listed investments is £100.00012020- £100.000). 13 Flnanclal Instruments 2021 2020 Carrylng amount of flnanclal assets Instruments measured at fair vue Ihrouph profit or loss 148,145 121,080 14 Oebtors 2021 2020 Amounts falllng due v*tthln one year: Other debtors Prepayments and 8ccrue(r income 2S.619 16,973 29,619 19,634 16 Credltors: Imounts falllng due vAthln one y•4r 2021 2020 Trad8 creditors Accruals and dettsed income 4.442 19,284 5,545 24,359 23,726 29,904 16 Retlrement benellt s¢h•me• Deflned contrlbutlon scheme5 The ¢harity operates a defined conlnbulion pension scheme for 811 qu8lity.ng employees. The assets of the $theme are held separately frorn those ol the charity in an independently 8dministered fund. The tharge lo the SOFA in respecl of defined contribution schemes was £6,30712020- £5,627). 21
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HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 18 Deslgnat•d funds The income funds of the th8nty indude the following de&gn8led frjnds which have been set aside out of unrestiicled funds by the tnjstees fof 5pecffic purposes: Movement Sn funds Incrla Balance at isouree8 31 Alarch 2021 Balance at l April 8alaThcè •t 1 April 2020 Designated fund5 65,000 130,0001 35,000 35,000 65,000 130.0001 35,000 35,000 Oesignaled funds are an amount equ¥l to four months expendilijre for programrnes not covered by funding and the thanly's own costs. 19 Anllysls of nel •¥Mts betr4en funds Unrestrl¢t•d Re•trlcted funds fund• 2021 2021 Tolal Unrestricted Restricted funds funds 2020 2020 Total 2021 2020 Fund balances al 31 M8reh 2021 are represented by.. Invtrslments Current assetsl 35.000 111,145 146,145 35,000 86,080 121,080 60.282 71,722 131.984 3.582 77,373 80,955 95,262 182,867 278.129 38,S82 163,453 202,035 20 Related party transacllons Remuneration of key management personr1 The remuneration ol key managernenl personnel is as tollows. 2021 2020 Aggregate compensation 45.857 45.880 The chanty considers its key management personnel to be the trustees and the Transilion Director. 23-
HOUNSLOW ACTION FOR YOUTH ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 20 Related paty transactlons Icontlnuedl On 1 August 2020 Kaye Enlerprises Ltd dosed ils offices and was unable lo contsnue providing bookkeeping serM¢es tree of charge. From this ts.me Jane Smith. then a Trustee and Director, became the Ch3nt5 accountant. She was paid £2.917 lor the penod l AugLtsl 2020 10 13 October 2020 after which she resigned as Trustee and DireGlor. -24-