**REGISTERED COMPANY NUMBER: 02235097 (England and Wales) REGISTERED CHARITY NUMBER: 298984**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
**FOR**
## **YOUNG CONCERN TRUST**
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
**YOUNG CONCERN TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6 to 7|
|**Cash Flow Statement**|8|
|**Notes to the Financial Statements**|9 to 16|
|**Detailed Statement of Financial Activities**|17 to 18|
**YOUNG CONCERN TRUST**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
To promote the care and protection of the mental health and welfare of young persons who are in need of such care and attention by the provision or assistance in the provision of counselling, educational activities and therapeutic and related services.
## **Public benefit**
The Trustees of YCT take due regard to the requirement that the charity operates in ways that provide public benefit. Trustees are aware of the guidance around public benefit and take it into account when making decisions to which that guidance is relevant.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Trust's core staff team is based at YCT House in Harlow, YCT's purpose-designed premises from which the team operates and at which some therapeutic input is delivered. A large team of specialist self-employed therapists work on YCT's behalf in a range of locations across Essex and Hertfordshire. The Trust's work is delivered through a range of therapeutic models assessed as being relevant to the particular client or client group. Nationally-accredited tools are used to measure the impact of YCT's services; they and anecdotal feedback from YCT's stakeholders, demonstrate the beneficial outcomes of YCT's interventions. Early intervention in emotional and mental health issues, such as those provided by YCT, can prevent the escalation of more serious conditions, ensuring better outcomes for children and young people and saving the public purse the cost of more expensive and time-consuming treatments. In addition to individual and group work with children and young people, YCT supports and trains professional colleagues. Amongst other factors YCT monitors presenting issues, local need, youth culture, government initiatives etc. in order to ensure that its current and future services are appropriate, beneficial and part of the overall 'offer' to children and young people. During 2022/23 the number of clients supported by YCT was 1,648 through the delivery of 11,581 hours of therapeutic input.
During 2022/23, following the effects of the Covid pandemic, YCT has seen an increasing number of referrals for children aged 5-10 years to whom play therapy has been offered. Increases in therapeutic hours have been offered wherever possible, for which additional permanent staff have been employed and changes to YCT's staffing structure implemented to ensure it remains effective and fit-for-purpose. Funding for commissioned work has been maintained, as have contracts with schools to provide the therapy needed.
## **FINANCIAL REVIEW**
## **Financial position**
YCT is in a sound financial position which allows the organisation to make positive development plans for the future. Moving forward the YCT Board aims to ensure that existing contracts continue to be delivered fully and effectively responding to the needs of children, young people and their families. YCT plans to stimulate greater funding income through the recruitment of a Fundraising and Communications Officer. The development of further relevant services, along with the expansion of current services is planned, in line with the organisation's charitable objectives. YCT is finalising its 5 year Strategic Plan to achieve and monitor this.
## **Principal funding sources**
The YCT Board continues to be appreciative of those who fund or commission YCT's services and of its loyal, committed, and flexible staff team, volunteers, and self-employed therapists.
Page 1
**YOUNG CONCERN TRUST**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2023**
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees of YCT recognise that funds gained by the charity are to be used for the public benefit, and should not be held back or kept in reserve without good cause.
YCT holds reserves as follow:
Fiscal Responsibility Fund: Once per quarter Trustees consider and approve a sum of money needed to shut the charity down effectively if such circumstances were forced upon it.
- In order to support the sustainability and long-term development of YCT the Trustees also hold funds based on a) development of the organisation b) sustainability of the organisation and c) future building and accommodation needs. o Development Fund £50,000 o Sustainability Fund £49,635 o Premises Fund £100,000 o Fiscal Responsibility Fund £83,346
The Trustees believe that YCT is in a sound financial situation with a broad funding base and with an ability to effectively react to changing circumstances
## **Going concern**
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Trust is governed by its Memorandum and Articles of Association.
## **Organisational structure**
Responsibility for YCT's operation lies with the Board of Management which meets regularly throughout the year. The role of the Management Board is to set the strategic direction of the organisation, to oversee its finances, to ensure compliance with all relevant guidance and legislation, to have in place policies and procedures relevant to the staff, self-employed therapists and volunteers, to the organisation's function, and give advice and support in specialist areas. The Management Board regularly reviews its Reserve Fund, ensuring that this equates to an amount needed to adequately close the organisation down should circumstances made that necessary.
## **Decision making**
Regular reports to the Board of Management, including feedback on the results of tools used to measure the impact of the various pieces of work delivered by the organisation, allow the Board to ensure that the work delivered by YCT continues to support its charitable objectives.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02235097 (England and Wales)
## **Registered Charity number**
298984
## **Registered office**
YCT House Maddox Road Harlow Essex CM20 3GA
Page 2
**YOUNG CONCERN TRUST**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2023**
## **Trustees**
L Collins N Frost - Vice Chair M Ingall C J Liggins - Treasurer A Linton S J Livings J H Miles - Chair N Varnam - Company Secretary
## **Independent Examiner**
Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
## **Solicitors**
Attwater Jameson & Hill Rothwell House West Square The High Harlow, Essex CM20 1LQ
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 4[th] October 2023 and signed on its behalf by:
Julia Miles Julia Miles (Oct 30, 2023 17:48 GMT) ........................................................................ J H Miles - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YOUNG CONCERN TRUST**
## **Independent examiner's report to the trustees of Young Concern Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Association of Accounting Technicians 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 Company 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 than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## OusS>
Christopher Marsh MAAT Association of Accounting Technicians Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF
Date: 30[th] October 2023
Page 4
**YOUNG CONCERN TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
361
**Charitable activities**
General charitable activities
496,817
Investment income
3
2,556
Other income
5,880
**Total**
505,614
**EXPENDITURE ON**
Raising funds
5
10,920
**Charitable activities**
6
General charitable activities
467,460
**Total**
478,380
**NET INCOME/(EXPENDITURE)**
27,234
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
381,925
**TOTAL FUNDS CARRIED FORWARD**
409,159|Restricted
funds
£
16,681
47,136
-
-
63,817
-
65,902
65,902
(2,085)
25,001
22,916|31.3.23
Total
funds
£
17,042
543,953
2,556
5,880
569,431
10,920
533,362
544,282
25,149
406,926
432,075|31.3.22
Total
funds
£
18,060
490,326
77
1,990
510,453
10,196
471,769
481,965
28,488
378,438
406,926|
|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5
**YOUNG CONCERN TRUST**
## **BALANCE SHEET 31 March 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
12
14,976
**CURRENT ASSETS**
Debtors
13
42,484
Cash at bank and in hand
508,275
550,759
**CREDITORS**
Amounts falling due within one year
14
(156,576)
**NET CURRENT ASSETS**
394,183
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
409,159
**NET ASSETS**
409,159
**FUNDS**
15
Unrestricted funds:
General fund
Fiscal Responsibility fund
Premises fund
Sustainability fund
Development fund
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
22,916
-
-
-
-
-
22,916
22,916|31.3.23
Total
funds
£
37,892
42,484
508,275
550,759
(156,576)
394,183
432,075
432,075
126,178
83,346
100,000
49,635
50,000
409,159
22,916
432,075|31.3.22
Total
funds
£
43,280
116,567
375,858
492,425
(128,779)
363,646
406,926
406,926
248,180
40,505
13,605
49,635
30,000
381,925
25,001
406,926|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
**YOUNG CONCERN TRUST**
## **BALANCE SHEET - continued**
## **31 March 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 4[th] October 2023 and were signed on its behalf by:
## Julia Miles
Julia Miles (Oct 30, 2023 17:48 GMT) ............................................. J H Miles - Trustee
## Claire Liggins
Claire Liggins (Oct 30, 2023 18:08 GMT)
.............................................
C J Liggins - Trustee
The notes form part of these financial statements
Page 7
**YOUNG CONCERN TRUST**
## **CASH FLOW STATEMENT for the year ended 31 March 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
17
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.3.23
£
138,844
138,844
(8,983)
2,556
(6,427)
132,417
375,858
508,275|31.3.22
£
(37,876)
(37,876)
(6,951)
77
(6,874)
(44,750)
420,608
375,858|
|---|---|---|
The notes form part of these financial statements
Page 8
**YOUNG CONCERN TRUST**
**NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements and assessment of going concern**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
The financial statements are presented in £, Pound Sterling
## **Income**
Income from non-contractual services is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from contractual services is recognised in the accounting period to which it relates with any balance being deferred.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 15 years Fixtures and fittings - Straight line over 3 years
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
## **Creditors**
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 9
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the year ended 31 March 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
Diana Kemp Welch Award
Other Grants
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
General charitable activities
Counselling Income
General charitable activities
Training Income
General charitable activities
Project income
General charitable activities
Grants received, included in the above, are as follows:
Children in Need
Essex County Council - Youth Services
Harlow District Council - Partnership Grant
Other Grants|31.3.23
£
361
16,681
17,042
31.3.23
£
4,000
12,681
16,681
31.3.23
£
2,556
31.3.23
£
50,636
491,193
534
1,590
543,953
31.3.23
£
39,216
3,500
7,920
-
50,636|31.3.22
£
9,266
8,794
18,060
31.3.22
£
7,169
1,625
8,794
31.3.22
£
77
31.3.22
£
60,673
429,653
-
-
490,326
31.3.22
£
45,374
2,500
10,000
2,799
60,673|
|---|---|---|
continued...
Page 10
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the year ended 31 March 2023**
## **5. RAISING FUNDS**
|**Raising donations and legacies**
Staff costs
**6.**
**CHARITABLE ACTIVITIES COSTS**
General charitable activities
**7.**
**SUPPORT COSTS**
General charitable activities
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Independent Examination|Direct
Costs
£
507,305|31.3.23
31.3.22
£
£
10,920
10,196
Support
costs (see
note 7)
Totals
£
£
26,057
533,362
Governance
costs
£
26,057
31.3.23
31.3.22
£
£
14,371
12,425
1,300
1,300|
|---|---|---|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **10. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.3.23|31.3.22|
|---|---|---|
|All staff|8|7|
No employees received emoluments in excess of £60,000.
continued...
Page 11
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023**
## **10. STAFF COSTS - continued**
|Wages and salaries
Therapists
Other pension costs|31.3.23
**£**
243,270
215,790
8,393
467,453|31.3.22
**£**
166,534
217,815
5,936
390,285|
|---|---|---|
## **Key Management**
The trustees consider the role of Key Management to be those of CEO and Lead Therapist. During the year the Key Management received remuneration of £83,866 of Gross Wages, £3,276 of Pension Contributions and incurred £9,530 of Employers National Insurance contributions (2022: Remuneration of £45,388 of Gross Wages, £1,889 of Pension Contributions and incurred £5,098 of Employers National Insurance contributions.)
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
10,891
**Charitable activities**
General charitable activities
432,155
Investment income
77
Other income
1,990
**Total**
445,113
**EXPENDITURE ON**
Raising funds
10,196
**Charitable activities**
General charitable activities
400,179
**Total**
410,375
**NET INCOME/(EXPENDITURE)**
34,738
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
347,187
**TOTAL FUNDS CARRIED FORWARD**
381,925|Restricted
funds
£
7,169
58,171
-
-
65,340
-
71,590
71,590
(6,250)
31,251
25,001|Total
funds
£
18,060
490,326
77
1,990
510,453
10,196
471,769
481,965
28,488
378,438
406,926|
|---|---|---|
continued...
Page 12
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023**
## **12. TANGIBLE FIXED ASSETS**
|Freehold
property
£
**COST**
At 1 April 2022
148,046
Additions
3,900
At 31 March 2023
151,946
**DEPRECIATION**
At 1 April 2022
109,637
Charge for year
10,130
At 31 March 2023
119,767
**NET BOOK VALUE**
At 31 March 2023
32,179
At 31 March 2022
38,409
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Accrued expenses|Fixtures
and
fittings
£
25,824
5,083
30,907
20,953
4,241
25,194
5,713
4,871
31.3.23
£
38,771
-
3,713
42,484
31.3.23
£
7,367
7,099
15,991
105,329
20,790
156,576|Totals
£
173,870
8,983
182,853
130,590
14,371
144,961
37,892
43,280
31.3.22
£
-
112,805
3,762
116,567
31.3.22
£
-
4,825
291
97,844
25,819
128,779|
|---|---|---|
The balance of deferred income relates to multi-year or non-coterminous contractual grants for counselling services as per the accounting policy set out in note 1.
continued...
Page 13
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **for the year ended 31 March 2023**
## **15. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Fiscal Responsibility fund
Premises fund
Sustainability fund
Development fund
**Restricted funds**
YCT Property Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are
**Unrestricted funds**
General fund
**Restricted funds**
BBC Children In Need Fund
YCT Property Fund
Counselling Funds
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Fiscal Responsibility fund
Premises fund
Sustainability fund
Development fund
**Restricted funds**
YCT Property Fund
**TOTAL FUNDS**|At 1.4.22
£
248,180
40,505
13,605
49,635
30,000
381,925
25,001
406,926
as follows:|Net
movement
in funds
£
27,234
-
-
-
-
27,234
(2,085)
25,149
Incoming
resources
£
505,614
39,216
-
24,601
63,817
569,431
At 1.4.21
£
213,442
40,505
13,605
49,635
30,000
347,187
31,251
378,438|Transfers
between
At
funds
31.3.23
£
£
(149,236)
126,178
42,841
83,346
86,395
100,000
-
49,635
20,000
50,000
-
409,159
-
22,916
-
432,075
Resources
Movement
expended
in funds
£
£
(478,380)
27,234
(39,216)
-
(2,085)
(2,085)
(24,601)
-
(65,902)
(2,085)
(544,282)
25,149
Net
movement
At
in funds
31.3.22
£
£
34,738
248,180
-
40,505
-
13,605
-
49,635
-
30,000
34,738
381,925
(6,250)
25,001
28,488
406,926|
|---|---|---|---|
continued...
Page 14
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023**
## **15. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
BBC Children In Need Fund
Essex Educational and Community Settings
YCT Property Fund
**TOTAL FUNDS**|Incoming
resources
£
445,112
45,374
19,967
-
65,341
510,453|Resources
Movement
expended
in funds
£
£
(410,374)
34,738
(45,374)
-
(19,967)
-
(6,250)
(6,250)
(71,591)
(6,250)
(481,965)
28,488|
|---|---|---|
The fiscal responsibility fund is a reserve fund designated by the directors in order to protect against any sudden loss of income. The amount of reserves is set so as to enable the company to meet all staff redundancy costs plus a provision for legal costs associated with the winding up of the organisation.
The Premises Fund was designated by the Directors to provide for any future large scale refurbishment or repair work.
The Sustainability Fund was designated by the Directors to support core costs of the organisation during a period of significant transition.
The Development Fund was designated by the Directors as a provision for the future development of the organisation with a view of generating increased income streams in order to add further stability.
Essex Educational and Community Settings fund is for the restricted income relating to one to one counselling in schools, academies, specialist schools, alternative educational establishments, and colleges. West Essex CCG funds are for one-to-one play therapy for children aged 5-10 and one to one counselling for young people aged 11-18 living in Harlow, Epping Forest and Uttlesford. Harlow Council Partnership Grant supports one to one counselling support for 11 - 25-year-olds in Harlow.
Children in Need fund provides counselling for young people living within Harlow and surrounding villages who are aged 11-19
## **16. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
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continued...
**YOUNG CONCERN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023**
## **17. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**||||
|---|---|---|---|
|||31.3.23|31.3.22|
|||£|£|
|**Net income for the reporting period (as per the Statement of Financial**||||
|**Activities)**||25,149|28,488|
|**Adjustments for:**||||
|Depreciation charges||14,371|12,427|
|Interest received||(2,556)|(77)|
|Decrease/(increase) in debtors||74,083|(64,261)|
|Increase/(decrease) in creditors||27,797|(14,453)|
|**Net cash provided by/(used in) operations**||138,844|(37,876)|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1.4.22|Cash flow|At 31.3.23|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|375,858|132,417|508,275|
||375,858|132,417|508,275|
|**Total**|375,858|132,417|508,275|
## **18.. ANALYSIS OF CHANGES IN NET FUNDS**
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