. 

r MVTlME Young carers Repo t and Financial Statements lQB.2024 



**MYTIME Young Carers Contents For the year ended 31 March 2024** 



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|Legal and Administrative Information|2|
|Trustees report|3-12|
|Independent Examiner's report|13-14|
|Statement of financial activities|15|
|Balance sheet|16|
|Statement of cashflows|17|
|Notes to the financial statements|18-25|

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## MYTIME Young Carers trustee board 

ending 31[st] March 2024. The Trustees confirm that the report and financial statements of the charity’s current statutory requirements, the requirements of the charity's governing document, and the provisions of "Accounting and Reporting by Charities; Statement of Recommended Practice (Re(applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the LIK and Republic of Ireland (FRS 102F (e�ective 1 January 2019) (Charities SORP FRS 102). 

## Legal and administrative information 

For the year ended 31 March 2024 

**Trustees** Paul Tansey (Chair) Rebecca Turner Nicky Goulder (Resigned 25 July 2024) Chris Symons (Appointed 25 July 2024) Craig Je�erson (Appointed 31 October 2024) Jemima Jennings (Appointed 31 October 2024) **Treasurer** Paul Tansey **Chief Executive** Krista Cartlidge 

**Charity Number** 297481 **Principal** Avonbourne Academy, Harewood Road, Bournemouth, BH7 6NY **address Independent** Sa�ery LLP, Midland House, 2 Poole Road, Bournemouth, BH2 5QY **Examiner** 

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## Structure, governance and management 

A Trust Deed e�ected in 1987 governs the Charity. MYTIME Young Carers is an unincorporated Charity. 

## OBJECTIVES & ACTIVITIES 

   - (a) through their leisure time activities by residential courses and expedition training and otherwise; and/or 

   - support, and organising programmes of educational and other activities; and/or 

   - (c) by raising public awareness of matters a�ecting young people, in order to develop their physical mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved. 

- (2) The land in the schedule to this scheme is designated land. 

## VISION 

Our vision is a world where young carers are recognised by society and their life-long opportunities are unlimited. 

## MISSION 

we fight for the rights of young carers to ensure they receive the support, opportunities and friendship that every child deserves. 

## VALUES 






- **Tenacity:** We work relentlessly to elevate the position of young carers across society 

- **Compassion** : We model ourselves on the young carers we serve and operate from a place of kindness, always 

- **Accountability:** We accept responsibility for accelerating meaningful change for young carers, and take full ownership of our successes and failures along the way **Collaboration:** We believe in collective action, celebrating community over competition 

- **Authenticity:** We represent the authentic voice of young carers, and stay true to them in everything we do 

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## Statement from our chair 

We are very proud to present the MYTIME Young Carers Report and Financial statements for 2023-2024. As an organisation we have made enormous strides this year in our fight to ensure young carers have the visibility and support they truly deserve. We have stepped up our work to help us achieve our vision of social justice for young carers, whilst remaining fully committed to eliminating the e�ects of the social injustices experienced by young carers. 

Some of our major successes include: 








- attainment - a document highlighting the stark impact that having a caring responsibility can have on a young person’s education. 

- contributing to their report on young carers and their educational experiences. Featuring on the ITV documentary Young Carers: A Hidden Crisis 

- Working with over 220 schools across the UK to raise awareness of young carers and giving them the tools to e�ectively identify and support these amazing young people. 

- support to them and their families through our Making Memories and Employability Programmes. 

- Representing young carers and their needs at the Children’s Commissioner’s round table on young carers. 

- Working closely with the members of the MYTIME Youth Action and Advisory Board, where we listened to the voices of young carers and worked hard to improve our support based on their feedback. 

We have been very fortunate to continue to work alongside a huge number of wonderful supporters such as Paul Hamlyn, Talbot Village Trust, Garfield Weston, The Pointers Family Trust, Eranda Rothschild and many more. The generosity of these donors has enabled us to continue to scale our services significantly, increasing the number of quality services we deliver through our programmes and helping us to work with over three thousand young carers. We are now in a better position to provide the key support young carers need to diversify their childhood experiences and overcome many of the structural inequalities they face. 

We are excited to enter 2024/2025 with plans to continue to scale our work and to launch a new programme of support via the MYTIME Young Carer Friendly Award, which will see clubs, sports, community and faith groups access high-quality training on how to become young carer friendly. There are still thousands of children and young people across the UK who don’t realise that the vital care they provide for a loved one means they would be classified as a young carer. We therefore see it as our responsibility to continue to increase awareness, identify more hidden young carers and go on to provide the support they need to truly thrive. 

## Paul Tansey- CHAIRPERSON MYTIME YOUNG CARERS TRUSTEE BOARD 

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## MYTIME Service DELIVERY 2023-2024 

## MYTIME’s Making Memories Programmes 

## Aims: 

Through our Making Memories Programme, we aim to: 





- Provide young carers with much-needed breaks from their caring responsibilities and reduce their stress levels 

- Build a sense of community around young carers and reduce feelings of loneliness. 

- O�er young carers new experiences and enable them to develop a sense of self beyond their identity as carer 

- Improve physical and mental wellbeing by encouraging movement and time in nature to achieve these goals 

## To achieve these goals, we: 

Provide fun and enriching activity days, each catering for an average of 40 young carers aged 5-25. Provide residential retreats at both our accommodation centre on the Purbecks and other residential providers, each catering for between 6-12 young carers aged 5-25. Provide 4 weekly online youth group sessions for young carers aged 5-25, reaching over 100 young carers each week. Provide funding for schools to run activities, parties or trips out for their young carer communities. Provide young carers and their families with opportunities to attend one-o� events in the local area and beyond, through our wonderful community partners. 






- 30 activity days for 1200 young carers 

- Provided activities through our partner organisations for 155 young carers 

- 6 residentials for 42 young carers 

- 121 online sessions for young carers and young adult carers aged 5-25 

- 1300 Christmas Bags through Operation Christmas 

## The Impact: 

The young carers that participate in the Making Memories Programme have shared the following benefits of taking part in the programme this year: 





- 100% of participants felt a greater sense of hope and optimism about the future 100% felt proud to be a young carer 

- 100% felt their self-awareness and emotional awareness had improved 

- 97% felt a sense of belonging 

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- 96% said that their mood had improved 

- 87% felt their social skills had improved 

- 79% made new friends 

- 77% had the chance to try something new 

## MYTIME’s Level Up Programme (work in schools) 

## Aims: 

Through our Level Up Programme, we work closely with primary schools, secondary schools, alternative providers and colleges to create the supportive and inclusive educational environments where young carers can thrive. The aims of the programme are 

to: 




- Identify the many thousands of young carers who currently remain unknown to their schools and communities 

- Equip schools with the understanding, tools and strategies necessary in order to be able to support young carers e�ectively, both academically and emotionally Ensure that young carers have everything they need to be happy and successful in education, and beyond 

## TO ACHIEVE THESE GOALS, WE: 

We work towards these aims by o�ering schools access to: 











- High quality sta� training, designed to enable sta� to identify and more e�ectively support young carers 

- Educational student assemblies and PSHE lessons, designed to enable young carers to self-identify, and to reduce the stigmas surrounding caring 

- Individualised young carer policies, tailored to the unique contexts of each school Assistance launching and running a young carer support group 

- Continuous support for designated Young Carer Champions 

- Access to 1:1 tutoring for young carers where necessary 

- Access to 1:1 counselling and coaching for young carers where necessary 

- Access to extra-curricular opportunities for young carers, including MYTIME’s activity days, residential retreats and online youth group sessions Access to our Employability Programme for young adult carers 

- Access to the annual MYTIME Young Carers Education Summit at Bournemouth University 

## Impact: 

Level Up launched in September 2020. Since then, the programme has had a measurable impact. It has been met with exceptionally high demand. As a result, we are now working 

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with 228 schools, 82 in Bournemouth, Christchurch, and Poole, 66 in Dorset, 21 on the Isle of Wight, and 55 schools nationally. 

Across our partner schools: 




- 797 sta� members have now received high quality training on how to identify and support young carers. Prior to the training delivered by MYTIME only 34% of teachers felt confident identifying young carers and 27% felt confident supporting young carers. After receiving the training from MYTIME 97% felt confident identifying young carers and 99% felt confident supporting young carers. 

- carers. 

- 17,927 students attended an assembly about young carers. Helping that that have a caring responsibility to identify themselves to school sta�. 

## MYTIME’s Employability Programme 

Young carers develop a unique skillset at a very early age. They represent an incredibly helpful, committed, responsible and compassionate community, yet they are twice as likely as their peers to find themselves out of education, training or employment between the ages of 16 and 18. MYTIME’s Employability Programme exists to address this issue and to support young carers age 14-25 into higher education, training, or work. 

young carers can achieve anything they set their minds to. Our Employability Programme takes place over the course of an eight-week period, young carers are given the opportunity to explore career opportunities that might interest them, they produce a professional CV, develop interview skills and identify opportunities for work experience. Participant numbers are limited to twelve at a time, and funding is available to help participants cover transport costs if necessary. Beyond the eight-week project itself, MYTIME has established a thriving alumnus to ensure young carers can access ongoing support until they reach 25. 

Alongside our work with young carers, MYTIME is also working to educate employers about the number of young people a�ected by caring responsibilities and the challenges they face, as well as the wealth of skills they have to o�er. By engaging employers in this kind of dialogue, we hope to encourage them to o�er more flexible working patterns and to create working environments where young carers can thrive. 

## Aims: 

Through the Employability Programme, MYTIME seeks to: 


Empower young adult carers to achieve their full personal, academic and professional potential. 

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- appreciate the value of the skillsets they have developed through their caring roles. 

Work with employers to create understanding, supportive and inclusive workplaces for young adult carers. 

## Impact: 

In 2023-2024 MYTIME’s Employability Programme delivered 11 online and face to face courses for 51 young adult carers. We also hosted our annual Employability Programme Celebration Event and delivered a careers convention specifically for young carers, which was attended by over 150 young carers. We facilitated an online youth group, Tempo, specifically for Employability Programme alumni, enabling them to stay in touch. 






- 100% now have a clear plan for the future 

- 100% have a high-quality CV 

- 88% now understand how the skills they have developed as a carer could be useful in the workplace 

## RESERVES POLICY 

The aim of MYTIME’s reserves policy is to ensure that its ongoing and future activities are reasonably protected from unexpected variances in income and expenditure, such as Brexit and cost of living crisis. The Trustees have developed a system to ensure the free reserves are regularly reviewed. This process considers the financial risks associated with di�erent income streams, expenditure categories and balance sheet items together with MYTIME’s ability to meet these from realisable funds. MYTIME monitors a range of measures related to its income and expenditure profile, risks faced and cash flow in developing a free reserves target. 

The reserves policy seeks to balance spending the maximum amount of income raised as soon as possible after receipt with maintaining the minimum level of free reserves to ensure uninterrupted operation and provide time to adjust to a change in financial circumstances. 

The Charity currently aims to build **free reserves** of 3 months of underlying operational costs. The current goal is therefore to build up free reserves to a level of approximately £180,000 in the medium term. At 31/03/24 the charity has free reserves of £60,398. 

## Appointment and induction of Trustees 

MYTIME’s Board of Trustees has a wealth of experience that covers the business, charity, community, and education sectors. New Trustees are appointed to the Board by the 

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current Trustees. The Chief Executive inducts new Trustees by providing key information relating to the charity's governance and operations, and introductions to the sta� team. New Trustees also have a DBS check and safeguarding training. The Trustees meet at least quarterly and are invited to attend projects and events. 

## Trustees’ information 

Trustees do not receive payment for this role. Reasonable expenses are reimbursed. 

## Related party transactions 

The Charity paid Intergage Limited a business in which the chairman has a controlling interest, the following to host and support the MYTIME Young Carers website: £204 in 2023-2024 

£1,262 in 2022-2023 

£3,855 in 2021-2022 the previous year to redesign the charity’s website. 

## Day to day operations 

Krista Cartlidge (CEO) and her team of 19 sta� deliver the day-to-day operations of the charity. Five of these are on the Senior Management Team: Director of Fundraising and Communications; Level Up Programme Manager; Making Memories Programme Manager; Employability Programme Manager and Finance Manager. 

All sta� have a six-monthly probation with quarterly development meetings as part of an annual development programme. The Sta� Handbook provides information on internal policies and procedures. 

## Fundraising 

bids are carefully researched, developed, and submitted to trusts/foundations and public sector bodies, matching their funding criteria with MYTIME’s work. 

Corporate partnerships are developed with businesses, carefully matching their corporate responsibility objectives with MYTIME’s charitable objectives. Increasingly, MYTIME is approached and works with organisations to co-create partnerships with mutual benefit. MYTIME works on a personalised basis with individuals who have expressed interest in its work. MYTIME also seeks to raise funds from the wider public. 

MYTIME has received no complaints about this or any other approach to fundraising.  MYTIME is registered with the Fundraising Regulator. 

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## Risk management 

The Trustees consider the key risks to which the charity is exposed. In addition, a detailed risk dashboard is maintained by the CEO and reviewed regularly. Reports are submitted to the Trustees at quarterly trustee meetings.  The CEO assesses the detailed risks and the systems in place to mitigate them. Examples of the key risks faced by MYTIME, and their mitigation are provided below: 


- **Risk:** Loss of the Chief Executive- in a charity of this size the Chief Executive's continuing commitment and resilience underpins its capacity to deliver its business plan. 

**Mitigation:** A Senior Management Team covers the core areas of communications, finance, fundraising, operations, and programmes, and provides support to the Chief Executive as well as continuity in times of absence. As the charity continues to grow that resource is monitored. 


- **Risk:** Reputational damage- the charity’s reputation is paramount, and it works hard to maintain and enhance it. 

**Mitigation:** High quality Programmes are delivered by exceptional sta� and meticulously evaluated; a rigorous Safeguarding Children and Vulnerable Adults policy is in place; risk assessments are carried out for every programme. 


- **Risk:** Lack of funding- funding is critical to the continued operations of the charity and in a continuously evolving environment, it needs to be alerted to changing funding demands and policies. 

**Mitigation:** income streams. This includes the hiring of a Corporate Fundraiser and a Community Fundraiser. 


**Risk:** Poor sta� wellbeing 

Sta� wellbeing is crucial in a small, ambitious charity that delivers an extensive programme each year with young carers. 

**Mitigation:** Sta� wellbeing is central to the charity's people strategy and culture. 

Initiatives have included wellbeing days, creative and social activities, additional holiday, and regular socials. 

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## Public Benefit 

The trustees have had regard to the guidance issued by the Charity Commission on public benefit when reviewing the charity's aims and purposes and in planning future activities. In particular, the trustees consider how planned activities contribute to the aims and purposes of the Charity. 

## Statement of Trustees' Responsibilities 

statements in accordance with the United Kingdom Accounting Standards, including Charities SORP (FRS102) applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 


- select suitable accounting policies and apply them consistently; 


- observe the methods and principles in the Charities SORP; 


- make judgements and estimates that are reasonable and prudent; 


- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 


- inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping adequate accounting records that are su�icient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## Financial review 

MYTIME’s financial position improved again for the year ending 31 March 2024. 

The MYTIME team achieved 108% of its revenue target during the year 2023-24 and overspent by 2% of its expenditure budget. The Charity’s revenue grew by 19% over the previous year to £851k with better than forecast reserves at the end of the year. Total funds at the year-end grew 21% to £275k of which 60% are restricted and will be used directly to support young carers. 

MYTIME has ambitious plans. To fulfil its potential, next year the charity will need to continue to service its young carers while also investing in the fundraising team required to support its growth plans. 

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## Statement of disclosure of information to accountants 

statements, as set out above, each confirm so far as we are aware, that: there is no relevant information of which the company's accountants are unaware; and we have taken all steps that we ought to have taken as 

Trustees in order to make ourselves aware of any relevant accounting information and to establish that the company's accountants are aware of that information. 

This report was approved by the board on 18/12/2024 

X Paul Tansey Chairman of Trustees 

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## **MYTIME Young Carers Independent Examiner's Report For the year ended 31 March 2024** 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 

## **Respective responsibilities of trustees and examiner** 

are responsible for the preparation of the accounts in accordance with the requirements of the 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## **Basis of independent examiner's report** 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an the report is limited to those matters set out in the statement below. 

## **Independent examiner's statement** 

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of ICAEW, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

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## **MYTIME Young Carers Independent Examiner's Report (continued) For the year ended 31 March 2024** 


## **Casidhe Baleri ACA CTA** 

Saffery LLP Midland House 2 Poole Road Bournemouth BH2 5QY 

Date: 7 January 2025 

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## **MYTIME Young Carers Statement of Financial Activities (including summary income and expenditure accounts) For the year ended 31 March 2024** 

|**Note**<br>**Incoming Resources:**<br>Charitable Activities<br>**Total Income resources**<br>**Resources Expended:**<br>**Charitable activities**<br>Raising Funds<br>Charitable Activities<br>**Total resources expended**<br>**2**<br>**Net Movement in funds**<br>Fund balance brought forward at 1 April 2023<br>Fund balance carried forward at 31 March 2024|**Unrestricted**<br>**Restricted**<br>**Total**<br>**Total**<br>**Funds**<br>**Funds**<br>**Funds**<br>**Funds**<br>**2024**<br>**2024**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>432,642<br>418,372<br>851,014<br>712,409<br>**432,642**<br>**418,372**<br>**851,014**<br>**712,409**<br>30,758<br>-<br>30,758<br>11,954<br>349,642<br>416,471<br>766,113<br>681,753<br>**380,400**<br>**416,471**<br>**796,871**<br>**693,707**<br>52,242<br>1,901<br>54,143<br>18,702<br>54,390<br>160,182<br>214,572<br>195,870<br>106,632<br>162,083<br>268,715<br>214,572|
|---|---|



All of the above results are derived from continuing activities The Statement of Financial Activities includes all gains and losses recognised in the year Notes on pages 18 to 25 form part of these financial statements 

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## **MYTIME Young Carers Balance Sheet For the year ended 31 March 2024** 

|**Notes**<br>s<br>**5**<br>**s**<br>**6**<br> <br>**ounts falling due**<br>**ar**<br>**7**<br>**ess current Liabilities**<br>unds<br>ds<br>**8**|**2024**<br>**£**<br>46,234<br>30,102<br>248,319<br><br>324,655<br><br>(55,940)<br><br>268,715<br><br>106,632<br>162,083<br><br>268,715<br>|**2023**<br>**£**<br>44,218<br>9,470<br>193,189<br>246,877<br>(32,304)<br>214,572<br>54,390<br>160,182<br>214,572|
|---|---|---|



18/12/2024 

and are signed on its behalf by: 


**Paul Tansey** Trustee 

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## **MYTIME Young Carers Statement of Cash Flows For the year ended 31 March 2024** 

|**2024**<br>**2023**<br>**Cash flows from operating activities**<br>Net cash used in operating activities<br>**a)**<br>62,483<br>23,879|
|---|
|62,483<br>23,879<br>**Cash flows from investing activities**<br>Bank interest received<br>-<br>-<br>Purchase of tangible fixed assets<br>(7,353)<br>(4,939)|
|**Net cash provided by/(used in) investment activities**<br>(7,353)<br>(4,939)|
|**Change in cash and cash equivalents in the year**<br>**55,130**<br>**18,941**<br>Cash and cash equivalents at the beginning of the year<br>193,189<br>174,248|
|**Cash and cash equivalents at the end of the year**<br>**b)**<br>**248,319**<br>**193,189**|
|**_a) Reconciliation of net movement in funds to net cash flow from operating activities_**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>Net income/(expenditure) from the year<br>54,143<br>19,156<br>**Adjustments for:**<br>Loss on disposal of fixed assets<br>522<br>-<br>Depreciation<br>4,814<br>2,097<br>Increase in debtors<br>(20,632)<br>(7,622)<br>Increase in creditors<br>23,636<br>10,248|
|**Net cash provided by/(used in) operating activities**<br>62,483<br>23,879|
|**_b) Analysis of cash and cash equivalents_**<br>**2024**<br>**2023**<br>Current account<br>**£**<br>**£**<br>248,319<br>193,189|
|248,319<br>193,189|



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**MYTIME Young Carers Notes forming part of the financial statements For the year ended 31 March 2024** 

## **1.1 Basis of preparation** 

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at fair value. 

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019. 

## **1.2 Charity status** 

The charity is unincorporated registered in England and Wales. It's prinicpal place of business is Avonbourne Girls Academy, Harewood Avenue, Bournemouth, Dorset, BH7 6NY 

## **1.3 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

## **1.4 Restricted Funds** 

These are funds that can only be used for particular restricted purposes within the objectives of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Futher explanation of the nature and purpose of each fund is included in the notes to the accounts. The cost of raising and administering such funds is charged against the specific fund 

## **1.5 Incoming resources** 

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. 

## **1.6 Resources expended** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. 

## **1.7 Tangible fixed assets and depreciation** 

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: 

Fixtures and office equipment are not depreciated from 1 April 2015 as the depreciation charge is not 

material. Computer equipment is depreciated over 3 years straight line. 

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**MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## **1.8 Impairment of fixed assets** 

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. 

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. 

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prioryears. 

A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. 

## **1.9 Cash at bank and in hand** 

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.10 Financial instruments** 

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

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**MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## **1.10 Financial instruments (continued) Basic  financial assets** 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## **Other financial assets** 

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. 

## **Impairment of financial assets** 

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. 

The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. 

## **Derecognition of financial assets** 

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. 

## **Classification of financial liabilities** 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 

[20] 



**MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## **Basic  financial liabilities** 

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 

Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. 

If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## **1.11 Employee benefits** 

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.12 Retirement benefit** 

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

[21] 



## **MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## **2 Total resources expended** 

|Raising funds<br>Charitable activities<br>Other<br>Total resources expenses<br>**3 Staff costs**<br>Wages and salaries<br>Average number of employees|**Other**<br>**staff costs**<br>**Other**<br>**direct costs Total 2024**<br>**Total 2023**<br>30,758<br>-<br>30,758<br>11,954<br>349,642<br>416,471<br>766,113<br>654,094<br>-<br>-<br>-<br>27,659<br>380,400<br>416,471<br>796,871<br>693,707<br>**2024**<br>**2023**<br>£<br>£<br>527,968<br>500,164<br>527,968<br>500,164<br>15<br>17|
|---|---|



One employee earned between £70k - £80k during the current year (2023: £60-70k: One employee). 

The total employee benefits of the key management personnel of the charity were £71,161 (2023:£63,319). 

## **4 Related party transactions** 

The charity paid Intergage limited, a business in which the chairman has a controlling interest. Fees of £254 in 2024 (2023:£1,262) were paid in respect of website support services. 

## **5 Tangible fixed assets** 

|**Cost**<br>As at 1 April 2023<br>Additions<br>Disposals<br>As at 31 March 2024<br>**Depreciation**<br>As at 1 April 2023<br>Charge for the year<br>Eliminated on disposal<br>As at 31 March 2024<br>**Net book value**<br>As at 1 April 2023<br>As at 31 March 2024<br>**6 Debtors**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>VAT|**Total**<br>73,844<br>7,353<br>(1,567)<br>79,630<br>29,626<br>4,814<br>(1,044)<br>33,396<br>44,218<br>46,234<br>**2024**<br>**2023**<br>**£**<br>**£**<br>7,800<br>944<br>9,378<br>6,503<br>12,924<br>1,552<br>-<br>471<br>30,102<br>9,470|
|---|---|



[22] 



**MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## **7 Creditors: amounts falling due within one year** 

|Trade creditors<br>Other taxes and social security<br>Other creditors<br>**8 Statement of funds**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Memory Making Days<br>Zoom Youth Group<br>Employability<br>Level Up<br>Weekend Retreat R & R<br>Community Champion<br>Youth Advisory Board<br>For Showers, central heating, and<br>stove at the outdoor centre<br>Salaries - Core Funding<br>**Total restricted funds**<br>**Total Funds**|**2024**<br>**2023**<br>16,008<br>8,061<br>10,473<br>10,544<br>29,459<br>13,699<br>55,940<br>32,304<br>**Balance at Incoming**<br>**Resources**<br>**Transfers**<br>**Balance at**<br>**1 April resources**<br>**expended**<br>**31 March**<br>**2023**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>54,390<br>432,642<br>(380,400)<br>-<br>106,632<br>23,297<br>133,210<br>(114,840)<br>-<br>41,667<br>-<br>16,270<br>(47,143)<br>-<br>-30,873<br>67,592<br>97,512<br>(74,747)<br>-<br>90,357<br>47,080<br>136,160<br>(175,755)<br>-<br>7,485<br>-<br>220<br>0 <br>-<br>220<br>-<br>35,000<br>0 <br>-<br>35,000<br>8,014<br>-<br>(1,286)<br>-<br>6,727<br>11,500<br>-<br>-<br>-<br>11,500<br>2,700<br>-<br>(2,700)<br>-<br>-<br>160,182<br>418,372<br>(416,471)<br>-<br>162,083<br>214,572<br>851,014<br>(796,871)<br>-<br>268,715|
|---|---|



The General reserves (unrestricted funds) represents free funds of the charity which are not designated for particular purposes. 

[23] 



**MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## **8 Statement of funds (continued) Prior year funds** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Memory Making Days<br>Zoom Youth Group<br>Employability<br>Level Up<br>Weekend Retreat R & R<br>Youth Advisory Board<br>For Showers, central heating, and<br>stove at the outdoor centre<br>Salaries - Core Funding<br>**Total restricted funds**<br>**Total Funds**|**Balance at**<br>**IncomingExpenditure**<br>**Transfers**<br>**Balance at**<br>**1 April resources**<br>**expended**<br>**31 March**<br>**2022**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>28,993<br>323,769<br>(298,372)<br>-<br>54,390<br>20,514<br>103,299<br>(96,348)<br>(4,169)<br>23,297<br>4,597<br>27,566<br>(45,076)<br>12,913<br>(0)<br>65,106<br>60,270<br>(57,248)<br>(536)<br>67,592<br>54,284<br>159,330<br>(166,534)<br>47,080<br>13,075<br>-<br>(4,867)<br>(8,208)<br>0<br>(2,199)<br>20,475<br>(10,262)<br>-<br>8,014<br>11,500<br>-<br>-<br>-<br>11,500<br>-<br>17,700<br>(15,000)<br>-<br>2,700<br>166,877<br>388,640<br>(395,335)<br>-<br>160,182<br>195,870<br>712,409<br>(693,707)<br>214,572|
|---|---|



The specific purposes for which the funds are to be applied are as follows: 

## Making Memories Days 

Funded from a variety of sources, providing young carers with days out and activities to give them a break from 

## Zoom Youth Group 

(forms part of Making Memories above) Provides a platform where young carers can get together online as they are not always able to be out of the home to attend after school clubs due to their caring role. Employability Programme 

Funded from a variety of sources. Employability  is a  ten week programme focused on providing young carers with employment skills.  Young carers have many skills already, they communicate with professionals including helps to give them confidence to recognise their skills and apply them to the world of work. 

## Level Up Programme 

Funded from a variety of sources. Level Up provides liaison and training with school staff and students. We deliver high quality CPD to schools across the country and provide face to face assemblies in school to help identify young carers and the additional support they may need. 

## Weekend Retreat  R & R 

Our Outdoor centre at Worth Matravers provides a retreat for young carers. Where they can take a break from their caring roles 

## Salaries - Core Funding 

Funding provided for core salaries. 

[24] 



**MYTIME Young Carers Notes forming part of the financial statements (continued) For the year ended 31 March 2024** 

## Community Champion Programme 

Funded via the Ludlow Trust. We recognise that community groups find it difficult to identify young carers. The Community Champion Programme  provides high quality training aimed purely at community groups and their leaders such as Brownies/Cubs/Football Clubs/Youth Clubs and Church Groups. 

## Youth Advisory Board (YAAB) 

Trustees and influence the work being done across MYTIME. They ensure the voices of the young people we support are being heard and valued. 

## Showers, central heating, and stove at outdoor centre 

Funding from a variety of sources to provide equipment at outdoor centre. 

[25] 



MYfiME
YOUNG CARERS
01202 710701
www.mytimeyoungcarer&org
.lloura