Hackney Quest Report & Financial Statements For the year ended 31" August 2024 INDEX Page 2 Legal & Administrative Details Pages 3-9 Trustees, Report Page 10 Independent Examinerfs Report Page 11 Statement of Flnanclal Actlvitles Page 12 Balance Sheet Page 13 Cash Flow Statement Pages 14-20 Notes to the Accounts
Hackney Quest: Trustees Annual Report 2023-24 Reference & Administrative Details Summary of investment powers The company has the power lo invest its money that is not immediately required for ils objects. Company number 02266475 Charity number 299734 Registered office and operational address No 1 Poole Road Hackney, London, E9 7AE Trustees Trustees, who are also directors under company law, who served during the year and up lo the dale of this report are as follow5.. Charndeep Devgun ICo<hair) James Beresford (Co-chair) Leverne Sinclair Oana Bradulel Charndeep Devgun Sophie Hewill Keeley Williams Rebecca Oisu Terence Cronin (Treasurer) resigned 18109124 Lorna Taylor resigned 0310212024 Juliet Farrall resigned 0310212024 Gerardo Lopez De La Parra Joined 2510912024 Sarah Flambard Joined 2510912024 Paul Swannell (Treasurer) Joined 2510912024 Samantha Brown Joined 2510912024 Bankers National Westminster Bank plc 196 Stoke Newington High Street Stoke Newinglon London N167GA Independent Examiner Jacquie Driver Ltd Church House 1 Prodigal Square Hackney E8 1FX Facebook: www.facebook.comlhackne uesl Twitter.. http5'.Iltwilter.comlhackneyquesl Insta ram: Hackne Quest Page 2
Structure governance and management Hackney Ouest was incorporated by Memorandum and Articles of Association in 1988 and is a company limilecj by guarantee and not having a share capitsl. We can confirrn that our Trustees have given due consideration to the Charity Commissions published guidance in the Public Benefit requ1rement uncjer the Charities Act 2011. Board of Trustees We have a minimum of five trustees,. vacancies are advertised to the existing volunteer base and to exlemal agencies. Polenlial trustees are provided with a detailed jDb description and invited to attend a Board meeting. Candidates. written applications are consi¢Jered al the next Bo8rd meeting and rnusl have the majority sUPPOrt ol the Board. The Board is developing a more formal induction and CPD process to include trustee mentoring, and opportunities lo attend pro bono training sessions offered by some of the major London law and accountancy firms, and by third sector umbrella organisalions, are advertised and p8rticipalion strongly encouraged. Trustees are informed of their fundamental legal duties and Iheir broader responsibility lo support the effeclivtr management of the charily. Information is summarised in a Iruslee handbook. All trusl8es are enhanced DBS checked which, alongside a recommended framework of safeguarding training and practice, is key to ensuring th81 they are fil and proper persons to lake responsibility for an organisation that works with young people. The trustees ensure that major risks, including governance, operational, financial, exlemal and compliance with legal requirements afe identified and reviewed on a regular basis and that we have adequate systems in place lo miligale them. The management ensure that polioes and procedures covering Health and Safety, Safèguarding, Child Protection, Equal Opportunities, Finances, and a staff handbook and volunteer handbook are in place. These are reviewed, advised upon, and endorsed by the Board annually or as required. In addition, the trustees ensure that Hackney Quest has access lo professional legal and financial advice where appropriate. Meetings are held 4 times per year. Trustees receive a detailed bi-monthly report as well as financial and budgetary reports, lo ensure they are able lo properly scrulinise the charity's aclivilies. Trustees are also actively encouraged to engage with staff, volunteers and beneficiaries. Management and key staff Colette Allen is Hackney Quest's CEO and has been in post for 23 years. Finance and fundraising is the responsibility of Karen Bance. Marisa Linih8n is the Volunteer Manager. Janila Halsey is the Youth Manager. Andrew Esiegbe is the Family Support Manager, Luke Billingham is the Wick Award Youth Voice and Education Support Coordinator. Lekan Awoyemi, Sandr8 Monero. Jean-Guy Sylveslre. Fola David-Joshua and Sophie Jagne are our Senior Youthloutreach workers, Bella Relph is the Employability and Wellbeing Manager, Lucy Bradley is the AdministratorlHardship Support Co-ordinator. Our staff have a combined 100 plus years, experien of volunteering Wlth and working for Hackney Quest. Each and every activity carried out by Hackney Quest is planned in detail and in collaboration with experienced staff and volunteers. Written evaluations are produced and considered by management on a regular basis, with a particular gmphasis on any risks. and on outcomes. Each baneficiary's engagement with programmes is recorded, and their achievements reported both intemally lo siaff and trustees- and externally to stakeholders in the fomi of stalislical andlor anonymised returns as appropriate. Partners, funders and support organlsations BBC Children in Need, Garfield Weston Foundation. Hackney Parochial Charities, Headley Trust, Henry Smith Charity, Jack Pelchey Foundation, The John Paul Clarke Family, The London Borough of Hackney, The National Lottery. Pemberton Barnes Trust, Polen C8pil81. Rijac Properties, SAM Charitsble Trust. The Salters Charitable Foundation, Skyway Charity, South Hackney Parochial Ch8rilies. Truslhouse Charitable Foundation, Wick Award, Page 3
Woodroffe Benton Foundation, Young Hackney, and a number of smaller Worshipful Companies and Charitable Trusts Plus, the many individuals who give regularfy and the many individuals and teams who fundraise for us at events such as the Hackney H81f Marathon, as well as corporates who rnalch-fund and staff who give their own time. Premises We operate frorn 1 Poole Road, London, E9 7AE Message from the Co£hair5 of Trustee$ The past year has been one of both challenge and growth for Hackney Quest. As we reflect on 2023-2024, we see the continued impa¢ls of the wst-of-living crisis, which has impacted the daily lives of the young people and families we support. Rising fcrf)d and energy prices have put pressure on basic needs, leading to increased financial inse¢urily and stress for many. In response, Hackney Quest has adapted ils services, providing practical and emotional support for young people and their community through a range of community-focused programmes. We have seen the importance of addressing not only immediate hardships bul also syslemic issues such as school exclusions. Our Positive Youth Engagement Programme has played a critical role in helping young people reinlegrale into education and providing them with opportunities lo thrive. Through partnerships with local authorities and other organisalions, we have made strides in empowering young people lo navigate these challenges while developing resilience and confidence. Hackney Quest's Talking Quest counselling service has continued lo expand, offering eady mental health intervention and accessible counselling for young people six days a week. The importance of mental health support cannot be overstated, and we are proud to have helped 45 young people through this programme. This year has also seen the strengthening of our volunteer base, with over 100 dedicated individuals supporting our activities for young people as well as participating in fundraising events. Their efforts have helped make our inilialives, SLJch as the distribution ol school supplies and daily meals, possible. By participating they foster positive relationships beeen young people and their COTHmunity, whi¢h is al the heart of everything we do. On behalf ol the trustees. we would like to extend our heartfell thanks to Hackney Quest's staff, volunteers. supporters, and partners. Your dedication continues lo make a lasting impact on the lives of yOLJng people and their families in Hackney. Charndeep Devgun and James Beresford, Co£hairs of Trustees Objectives and activlties Our Articles ol Association state that Hackney Quest was established lo.. A. Educale children and young people, especially bul not exclusively through their lei5ure-litne activities, so as lo develop Ihtrir physical, mental and spiritual capacities and skills in order to enable them lo achieve their full polenlial and to grow lo full malurily as individuals and members of society and thereby make a positive contribution within the community as a whole. B. Provide or assist in the provision of facilities, training and other opportunities lor the recreation and other leisure time occupation and. further, foi education in interpersonal and practical skills, for children and young people who have a need lor such la¢ililies by reason of their youth, disablement, poverty or social or economic circumstances and. in particular giving priority lo those who are resident in the London Borough of Hackney and who have come lo the attention of education, health or poli¢& authorities, or other agencies as being in need of support, especially by reason of their history of delinquency or truancy, and in order that such children and young people may achieve these aims in the interests of social welfare and wlh the object of impFoving their conditions ol life, regardless of their ethnic origin, sex, gender, religious affiliation or disability. Aim5 and Objectives Page 4
Hackney Quest aims lo give young people, families and members of the community the practical and emotional support they need to develop and pursue their aspirations and deal positively with life's challenges. We help build confidence, develop new skills, widen perspectives and opportunities, as well as uncover existing strengths and capacities. Volunteers provicse a diversity of positive role models who will help to promote development of yOLJng people, families and the community and support Ihern on Iheirjourney to fulfill their potential. We conneGt people and help provide an environment where we ¢an learn from each other through forging supportiv8 relationships that realise the potential for positive change that lies within us all as individuals, families. and as a community. We aim lo give young people a voice in Hackney and involve them in the strategic directionlgovernance of Hackney Quest. We encourage them lo prepa lor the responsibilities. opportunities and expectations of adulthood and citizenship. We aim to support and èmpower families and our local community by offering practi¢al and emotional support lo promote wellbeing and decrease social isolation. Financial review Reserves policy Hackney Quest has on4Joing commitments lo the users of ils setvice and legal responsibility lo the 5t8ff it employs.11 is therefore considered prudent that Hackney Quest should aim to have a minimum level of free, unrestricted reserves represenlalive of three months, running costs. Our free, unreslrictefl reserves al the end of the financial year stood al £67k which represents just over 3 months of unrestricted running costs. This policy will be reviewed by the Trustees and the Fundraising & Finance Manager on an annual basis. or inlermedialely when any significant changes to the structure of the org3nisation or ils work lake place as a matter of urse. Financial results In 2023-24 Hackney Quest had totsl income of £530k1£510k in 20221231 with a bank balance al the end of August 24 of £118k1£130K in 221231. Total funds ended the year with a balance of £102K12022123 £117kl of which £67k was unrestricled1£51k in 221231. For delai15 see the statement of financial activities, balance sheet and aGcompanying notes. Fundwralslng by actlvity Youth programmes Our major lunders of our positive youth engagement programme were the National Lottery, London Borough of ackney. SAM Charitable Trust (Rijacl, Jack Pelchey Foundation and London Youth. Other donors include Polen, John Paul Clarke Family and lundraising through Just Giving. Volunteers, mgntors and 8mployability Our major lunders included Pemberton Barnes, London Youth. SAM Charitable Tnjst (Rijacl, Henry Smiths Charity and South Hackney Parochial Charities. Other ftjnders included Woodroffe Benton Foundation. Salters company, Worshipful Company of Fan Makers, Shoredilch Design, Sedulo Polen Capital, Sherbourne in the Community. For all funders we had in place a thorough quantitative and quali181ive data collection and ViewsllYSS reporting Syslerns, collected feedback on su¢Gesses and challenges and mel with the full requirements of the grants and contracts Wlck Award and youth voice Wick Award again funded our work amplifying youth voices and advocating for young people's needs in Hackney Wick, along with other major donors including HCVS My-Ends IVRUI and LLDC. Family and education support Page 5
We are very thankful to our main funders of these projects Headley Trust, Truslhouse Charitable Foundation, Wick Award, South Hackney Parochial Charities Ipartiallyl, The London Borough of Hackney. Vintners, The Sackler Trust who have continued to support lor many years. For all funders we had in place a thorough qu8nlitative and qualilalive dats collection and ViewsllYSS reporting systems, collected feedback on sucSseS Achievements and Perfomiance Youth Programmes Our youth programmes continue lo be al the heart of Hackney Quest's work, providing opportunities for young people lo engage in positive activi11gS that build their confidence. skills, and sense of belonging. This year, we've engaged over 400 young people through our Positive Youth Engagement Programmo, offering a Tange of activities from after-school sessions lo weekend clubs and holiday programmes. Highlights include.. Performances and Workshops.. Our young people got creative with music and arts projects. culminating in performances at events like the Cold Fire Festival. Many shared how amazing il felt to showcase their talents for the first timel Residentlals and Day Trips.. We organised several trips. including visits lo cullural sites, sports events, and residential activities, which helped foster teamwork and personal growth among participants. In collaboration with Hackney REP, we've also focused ori préventing school exclusions, providing targeted support for young people facing educational challenges, leading to.. Fewer young people al risk of being excluded from school. Better attendance and engagement in educational activities. Talking Quest.- Early Mental Health InteNentlon Talking Quest has really slepped LJP this year, providing accessible counselling and mental health support six days a week. This service has been essential in addressing the mental health needs of young people. Here's what we've achieved.. We've helped 45 young people with their mentsl health, tackling issues like anxiety, depression, and the stress brought on by the cost-of-living crisis. Our team has formed partnerships with rnenlal health organisalions to improve our services and referrals. We've made il easier for young people to access help when they need it, Creating a supportNe environment where they feel safe lo Ik about their feelings. Volunteers and Employment M8ntorlng Our volunteer nerk, with over 100 active members, has been crucial In supporting Hackney Quest's aclivilies. Volunteers have contributed to our youth engagement programmes, community support initiatives, and more. This year, we've also expanded our Youth Leadership Programrne, training 22 young leaders who have taken on roles in our programmes and supported their peers. Futur¢ Plans and Goals Looking ahead, Hackney Quest is committed lo.. 1. Expanding programme offerings, with a focus on employability, mentsl health awareness, and life skills. 2. Strengthening partnerships, particularly with Gorporale sponsors and education providers. 3. Enhancing support services such as Talking Quest and hardship support. 4. Increasing community engagement lo reach more young people and families. 5. Working towards the London Youth Gold Quality Mark. 6. Pfomoling youth leadership through our prograrnmes. 7. Responding to emerging challenges, including the ongoing impacts of the cosl-ol-living Crisis. Page 6
Principal risks and uncertainties Risk Area Explanation Mitigation Diversification of funding source5 Financial largels lo rnainlain reserves Mainlenance of volunteer rneOrk as a delivery arrn lin case of need lo cul paid youth workersl regular monitoring of the rolling iwelve months f0CaSt cashflow lo ensure that appropriate action can be taken lo cut costs if necessary to maintain the charity as a going concern. Close communication with the building owners Hackney Jnt Estsles lo idenlify eady sign of Hackney Quest is a charitable organisation reliant on grants and don81ions. Funds for our core work can someiimes be concentrated around a number of key funding Sour$. Funding Hackney Quest recognises that funding is one ol ils organisational resilience risks Hackney Quest operates out of an older building that we do not own therefore exposed lo risk of rent Increases or possible loss of acTrss lo the building as well as large scale repairs Targeted funding applications that iLje building mainletEancelcore costs Regular c0mrnunlcaln with young people, their families and volunte8rs to understand evolving needs Group support. Trentoring aThJ indNidual mentsl h881th support in pla for young people. Ann81 st8ff salary revw arKI regular checks on slaff financial wellbeing wthin Trustee meetings Financi81 planning a(fvice offered to staff 2023-24 saw a continued cost of living cri515 Wth, a150 affeding stsff and volunteers. This may cause casc8ding effects on the quality of education. mental healih and home life experienced by yourKJ people. Orgallisalional resi1enCe to shocks e.g. (X)st of living cri5iS Regularly review staff workloads to ensure that they are reasonable. EnsLJre salarie5 8re In line with market benchtnarks, Iracking inflation. Increase core-funding to build staff team and better distribute workload, build resilience especially for any unplanned st8ft absences Regulady VIeW staff developrnent and opportunities for person81 fuKilmenl through proj8Cts and programmes Hackney Quest is driven by a srnall group of highly d8dicaled 5t3ff. We need 10 ensu their orkload is sustainable and their wellbeing and ob sati5f8Ction is high. People Funding applicath)ns to inclLhYe n8w sys16ms and Implement8lion Di9itslisation ol our administration with approved acce5S. Data Management and GDPR We have different database systems for different nders and would work more effi¢ienUy if these ere streamlin8d Policies for Tnanagement ol operational r15k5 relating lo our work are in place and are reviewed annually All 51aff and volunteers are trained in relevant policies. Hackney Quest work5 With volunteers. vulnerable adults and young people facing challenging Circumstances within the Ial community. Health and Safety Young people. volunteers and staff trainedl reminded of organis8lional rules and Ethos. Clear procedures for communicating with key stakeholders in event of crises. includi SDarl0 planning Execution of key policies and applicats.on lor quality mark as a way of ensuring internal rilne5s of pdicies and as an external marker ol confidence Kéy m8ss3ges and guidelines for all staff 8nd trustees communicating about Hackney Quest externally, induding soeial media policy and media policy Hackney Quest has a positive reputation within the community and ils partners.. this is to be aintained and exceeded. As 3 charity. Hackney Quest depends on ils reputation with key funders and the communty for its funding and ils ability to operate effecty'vely Reputation and marketing Page 7
Identificatson of key spokespeople and media Iraini Partnerlsupport Organisations Hackney Quest recognises that ¢0118boralion is essential for delivering impacfful servIs. This year, we have strengthened relationships with key stakeholders, incSuding-. Statutory Bodies.. Partnering with the London Borough of Hackney has allowed us lo prevent school exclusions and offer better suprK)rt to young people. Youth Organisations.. Collaborating with organisations like Hackney REP (committed lo preventing school exclusions and improving educational experiences for marginalised young people) and Rise Up East IVROI working in collaboration lo reduce youth violence. Corporate and Business Partnershlps.. Our partnerships wlh businesses such as Canada Life, OCS, Polen Capital, and Sedulo have been vital in supporting community inilialives like our community lunches, with OCS and Polen Capital volur+teering to assist. We also receive valuable support from the Felix Project, Skyway Charity, Wickers Charity, ELBA, London Borough of Hackney. HCVS, Diverse Voices, Benevily, Magdalene and EqLJinix We thank them for their support. Responsibilities of the Tru$ta8s The Trustees are required to prepare an annual report and financial statements for each financial year in accordance with applicable law and UK Generally Accepted Accounting Practice. The Trustees are 31so required lo prepare financial sialemenis which give a true and lair view ol the 51ale ol affairs of the charity and the incoming resources and application of resources, including the nel income or expenditure, ol the charity lor the year. In preparing those financial statements the Trustees are required lo.. Select suitable accounting policies and then apply them consislenlly make judgements and estimates that 3re reasonable and prudent stste whether applicable accounting standards and statements of recommended praclice have been followed, subject lo any material departures disclosed and explained in the financial slalemenls; and prepare the financial stslements on Ihe going concern basis unless il is inappropriate to presLJme that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records which disdose with asOnable accuracy al any lime the financial position of the charity and which enable them to ensure th8t the financial statements comply with the Companies Act 2006. The Trustees are also responsible lor safeguarding the assets ol the charitable company and hence for taking any reasonable steps for the prevention and deltiOn of fraud and other irregularities. Guarantee5 Member5 of the board of Trustees of the charitable company guarantee to contribute an amount not exceeding £1 10 the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 August 2024 was 8. The Trustees h8ve no beneficial interest in the charitable company. Jacquie Driver Ltd was the charitable company's independent examiner during the year Page 8
Approved by the Trustees on and signed on their behalf by g/,'125 CO-L ér IRUS r&C- Page 9
Independent examiner’s report to the Trustees of Hackney Quest
I report on the financial statements of the charity for the year ended 31 August 2024, which comprise the statement of financial activities, balance sheet, related notes and are set out on pages 11 to 20
Respective responsibilities of trustees and examiner
The charity’s trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 145 of the Charities Act 2011 (the 2011 Act). The charity is required by company law to prepare accrual based accounts and the charitable company's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants of England and Wales
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the financial statements under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters that I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any other than the charity and the charity’s trustees as a body for my examination work, for this report or for the statements that I have made.
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 audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 130 of the 2011 Act ; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Companies Act 2006 and Regulation 8 of the Accounts Regulations and the 2011 Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jacquie Driver FCA, Jacquie Driver Limited
Office address: Church house, 1 Prodigal Square, Hackney, E8 1FX Date: 10[th] February 2025
Page 10
Hackney Quest
Statement of financial activities (incorporating an income and expenditure account)
For the year ending 31 August 2024
| Note Income and endowments from Donations & legacies 2 Income from Charitable activities 3 Other income 4 Total income and endowments Expenditure on Expenditure on Raising funds Expenditure on charitable activities Total expenditure 5 6 Net Movement in Funds Balances at 1 September c/fwd Balances at 31 August 11 Net income/(expenditure) |
Restricted Unrestricted Total £ £ £ 161,405 137,814 299,219 127,542 94,282 221,824 0 8,672 8,672 288,947 240,768 529,715 - 51,750 51,750 320,063 172,756 492,819 320,063 224,506 544,569 (31,116) 16,262 (14,854) 66,060 51,028 117,088 34,944 67,290 102,234 Year to 31st August 2024 |
Restricted Unrestricted Total £ £ £ 215,749 101,376 317,125 54,259 122,924 177,183 0 16,061 16,061 Year to 31st August 2023 |
|---|---|---|
| 270,008 240,361 510,369 0 42,409 42,409 251,888 232,034 483,921 |
||
| 251,888 274,443 526,332 |
||
| 18,120 (34,082) (15,963) 47,940 85,110 133,050 |
||
| 66,060 51,028 117,088 |
Page 11
Hackney Quest Balance Sheet As At 31 Augu512024 3110812024 3110812023 Tanb]e fixed assets 1,289 Current assets Debtors C-xsli at b}k and iii li]{1 4,988 117,(rfJ6 121654 5,i63 9,683 155,246 Crediiors- amoutsts falling dile withxn one ve io 20,920 19,447 Net ciittent assets/liabtlys IOL734 115.799 Nei assets / liabilities 102,234 117.088 Funds Resttict¥d Funas L nii'biiiclLa Eund4 - ¥¢neral 34,944 67.29) 51.028 Total funds 102,234 117,088 I'cir thc !"L&lf ¢i)dJti% 31 .IiwLSt 11?4 tlie Chaiitablc ccimpan!. x% cnutlcd rn cKemption frnnisiKlit under becrion 4-.- c>f thc CLbinPaiilL %.Ict ?1111() rLlattrtx tl) %nw]I con1plie%. Tl)e Trs1¢C% AckI)n4eagc the frjllrniing res4]bIl¢s'. lil The Incmi?L'f% liffi-c nnt reqiiired Ehe cumparti. Iv obl aLuJIi of iis accnuni& fc)I the !-e2r Jft qi'stton ii) C(ra9cL iiith ectiiii1 4-6. Gill I'lic trtL.c% kAll-lL.a.c' IhL'if IC%POl1SlbdJrJc% lor ¢i)Inpliiiwuryth tlie rL'4llllL.lTtsts i)Ethv.-Ici iillil) respect iu aCC()I[ing iecurd4 And Ihi prcparativti of acci)Ullt -1l11.se ACC()iUit% Iiai-L. bccn ptLparLd In cciJnlAnci'with tlie pr(JJry51(xis AppIKablL t() ccimpxnic sithiect tn tliL' ilTrL311 ci)Lnpanies' rL¥itrL. --KpproiTd b!- thL.'I rLL4tLLb ()n nd %1gni.d (In Ihiir bcl)alf b!. Ih E 6fLfg ru t) 03<rTriiL o¥ InuJ fQ£ Rnle.. Page 12
Hackney Quest
Cash flow statement
| For the year to 31st August 2024 Net income/(deficit) for the reporting period (as per statement of financial activities) Adjustments for: Depreciation charges Write off of assets (Increase)/decrease in value of debtors Increase in value of creditors Net cash from operating activities Cash flows from investing activities Purchase of fixed assets Increase/(decrease) in cash in year Reconciliation of net debt Cash and cash equivalents- Current accounts Deposit accounts Borrowings Movements in short term loans Total |
2024 £ 789 0 575 1,473 |
2024 £ (14,854) 2,837 0 |
2023 £ 1,847 0 6,213 6,527 |
2023 £ (15,963) 14,587 0 |
|---|---|---|---|---|
| (1,375) | ||||
| 129,683 (12,017) 117,666 0 0 0 |
||||
| 129,683 (12,017) 117,666 |
Page 13
Hackney Quest Notes to the Financial Statements
For the year ending 31 August 2024
1. Accounting Policies
a) The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Companies Act 2006. They follow the recommendations in the Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repulic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Hackney Quest was incorporated by Memorandum and Articles of Association in 1988 and is a company limited by guarantee and not having a share capital (company number 2266475). It is also a registered charity (number 299734). It's registered office is at 1 Poole Road, Hackney, E9 7AE.
The trustees consider that Hackney Quest is a going concern as it has prepared what it considers a viable budget and cashflow for the next twelve months that shows that the current level of unrestricted reserves it is appropriate to support the activities planned for 2023-24 and for the foreseeable future. Therefore, the accounts are prepared based on Hackney Quest being a going concern.
b) Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Donated services and facilities are recognised as an incoming resource where the provider of the service has incurred a financial cost. Volunteer time is not included in the financial statements. c) Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier, unless they relate to a specific future period, in which case they are deferred.
d) Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation of fixed assets purchased with such grants is charged against the restricted fund. Where a fixed asset is donated to the charity for its own use, it is treated in a similar way to a restricted grant.
e) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function are allocated to support costs.
These costs are re-allocated on the basis of staff time as:
| Fundraising and publicity | 15% |
|---|---|
| Young people's and volunteers' activities | 85% |
Governance costs include the management of the charitable company's assets, organisational management and compliance with constitutional and statutory requirements. The costs of generating funds relate to the costs incurred by the charitable company in raisirig funds for the charitable work.
f) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. The depreciation methods in use are as follows: Equipment, fixtures and fittings 20% of the cost each year Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities.
Assets will be reviewed for impairment if circumstances indicate their recoverable value to be materially lower than their value disclosed in the accounts.
g) Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund together with a fair allocation of governance costs.
h) Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charitable company.
i) Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis, based on the length of the lease.
| 2023-24 | 2022-23 | |||||
|---|---|---|---|---|---|---|
| 2. Donations & legacies | ||||||
| Restricted | Unrestricted | Total | Restricted | Unrestricted | Total | |
| £ | £ | £ | £ | £ | £ | |
| Abidemi Ikharia | - | - | - | 5,165 | - | 5,165 |
| BBC Children in Need | 15,000 | 15,000 | ||||
| Benevity/Equinix | 3,000 | 2,248 | 5,248 | 16,970 | 1,710 | 18,680 |
| BP | - | 1,500 | 1,500 | |||
| Canada Life | - | 12,000 | 12,000 | |||
| Charles French CT | - | 3,000 | 3,000 | |||
| Compass Wellbeing | - | 44,681 | 44,681 | |||
| Garfield Weston | 15,000 | 15,000 | 15,000 | 15,000 | ||
| Hackney Parochial Charities | 745 | 25,000 | 25,745 | - | 25,000 | 25,000 |
| HCVS- my ends/The Wickers | 16,069 | 5,250 | 21,319 | 29,196 | 8,525 | 37,721 |
| Headley Trust | 15,000 | 15,000 | 45,000 | - | 45,000 | |
| Henry Smith | 17,500 | 17,500 | ||||
| Homerton College | 1,000 | 1,000 | ||||
| Jack Petchey | 5,599 | 5,599 | 2,140 | 2,140 | ||
| Kilburn & Strode | - | - | 500 |
500 | ||
| Kirkland & Ellis | - | 5,000 | 5,000 |
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| London Youth Paragon Trust Pemberton Barnes Places for People Play 4 Change Polen Capital RC Watts Foundation Rijac Properties/SAM Roedean Salters Company Sedulo Sherbourne in the Community Sir James Roll Charitable Trust South Hackney Parochial Charities Trusthouse UCL Vintners Woodroffe Benton Foundation Worshipful company of Fanmakers Worshipful Company of Innholders Gift aid claimed Other donations **Total ** |
Restricted Unrestricted Total Restricted Unrestricted Total £ £ £ £ £ £ 5,500 5,5003,932 3,932 - 500500 25,00025,00010,000 10,000 1,000 1,000 1,600 1,600 8,000 8,000- 5,0005,000 - 1,0001,000 16,519 80017,3197,935 7,935 -1,100 -1,100 5,000 5,0005,000 5,000 2,800 2,800 3,000 3,000 - 1,0001,000 46020,00020,46012,000 12,000 30,000 30,000 -3,200 3,200 5,000 5,000 5,000 5,0005,000 5,000 2,500 2,500- - - 2,0002,000 - 373373 16,11329,51645,6299,43034,26843,698 2023-24 2022-23 |
|---|---|
| 161,405 137,814299,219215,749 101,376317,125 |
Details of restricted grants:
Benevity/Equinix. Core costs and to provide support to people struggling financially, this includes advice,community meals, food bank, coffee mornings, vouchers etc BBC Children in Need. for core costs to help ensure our organisation can continue delivering essential support to children and young people who need it most.
Garfield Weston for core costs to help ensure our organisation can continue delivering essential support to children and young people who need it most.
Hackney Parochial Charities - for core costs to help ensure our organisation can continue delivering essential support to children and young people who need it most.
HCVS/The Wickers- my ends. Part of a consortium of organisations working together to increase the opportunities for young people. HQ role is strategic in supporting the other organisations
Headley Trust. To continue to provide to families and individuals, financial, debt, welfare, benefits advice and make referrrals to other services
Henry Smiths. Used towards the Employability, Wellbeing & Mentoring programme which provids young people aged 14-25 with the space and support to gain skills and opportunities that will help them in their move forward.
Jack Petchey. To give recognition awards to individual young people for their hard work and achievements.
London Youth. To provide additional sporting sessions for young people
Pemberton Barnes – to support and develop our young people aged 16-25 and to give them the opportunity to have 1:1 support with trained counsellors allowing them to think through the challenges and finding solutions; encouraging them to feel comfortable talking about their emotions both individually and in groups, while being supported through the signposting process to get any additional support.
Rijac Properties. To provide support for our young people through bursaries, activities and overhead costs
Salters Company. to be used towards the Employability, Wellbeing & Mentoring programme which provids young people aged 14-25 with the space and support to gain skills and opportunities that will help them in their employability as they move forward.
South Hackney Parochial Charities. To support the management and running costs of our adult and youth volunteers
Trusthouse. To support our families with advice and guidance, supporting through issues in education and community support through our foodbanks and hardship support project.
Vintners. To support our community as it faces rising expenses that make daily essentials increasingly difficult to afford. This funding allows us to provide vital resources, such as food, hardship support and essentials.
Woodruffe Benton. Used towards the employability programme which provids young people aged 14-25 with the space and support to gain skills and opportunities that will help them in their employability as they move forward.
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| 3. Charitable activities Government and local authority grants Big/National Lottery (from Dept of Culture, Media & Sport) London Councils Wick Award (London Borough of Hackney) Total from major grants London Borough of Hackney |
Restricted Unrestricted Total Restricted Unrestricted Total £ £ £ £ £ £ 6,396 84,185 90,58119,759 83,179 102,938 77,271 10,09787,368- 39,74539,745 2,875 2,875- - - 41,000 41,00034,500 -34,500 2023-24 2022-23 |
|---|---|
| 127,542 94,282 221,824 54,259 122,924 177,183 |
Details of above grants:
LB Hackney (Young People) £84k - to provide activities/workshops/accreditations for children/young people during daytime, evening and holiday periods
L B Hackney (small grant of £6k) to support the local community via our food bank, community meal, coffee mornings and advice sessions
The National Lottery - The Million Hours fund to 2 -yr funding for employing new sessional youth workers, maintaining our Youth Managers position, core costs and to provide open access activities at various sites including Frampton Park Estate.
The National Lottery - We received the Cost of Living to support our community as it faces rising expenses that make daily essentials increasingly difficult to afford. This funding allows us to provide vital resources, such as food, housing assistance, and financial guidance,
Wick Award £41k - To deliver of a range of engagement activities through forums and activities to continue the conversations started through the Community Researcher Programme; Develop a structure for engagement, discussion and decision making by young people locally and other young people to develop approaches, make decisions, arrange events and support capacity building to move the programme forward.
| 4. Other income Income from hall rentals Income from office rentals Administration of Hackney charities Bank interest |
Restricted Unrestricted Total Restricted Unrestricted Total £ £ £ £ £ £ - 6,000 6,000- 5,0505,050 - 7,5007,500 1,8251,825 2,9612,961 - 847847- 550 550 2023 2022 |
|---|---|
| - 8,672 8,672 - 16,061 16,061 |
5a. Total resources expended 2023-24
| Staff costs (note 6) Staff training & expenses Activities, awards & grants Office costs Accountancy & payroll fees Volunteers' training and expenses Premises costs Depreciation & write-offs Insurance Facilitator expenses Bank charges Allocation of support costs |
Raising funds Charitable activities Support costs (incl governance) 2023-24 costs costs Total £ £ £ £ 31,998 320,606 25,847 378,452 - - 1,511 1,511 3,020 46,056 - 49,076 3,365 - 16,351 19,716 - - 4,949 4,949 - 5,284 632 5,916 - - 47,549 47,549 - - 789 789 - - 4,670 4,670 - 31,407 - 31,407 - - 535 535 |
|---|---|
| 38,382 403,353 102,833 544,569 13,368 89,465 -102,833 |
|
| 51,750 492,819 - 544,569 |
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5a. Total resources expended 2022-23
| Staff costs (note 6) Staff training & expenses Activities, awards & grants Office costs Accountancy & payroll fees Volunteers' training and expenses Premises costs Depreciation & write-offs Insurance Facilitator expenses Bank charges Allocation of support costs 5b. Analysis of charitable activities 2023-24 Staff costs Activities, awards & grants Volunteers' training and expenses Facilitator expenses Allocation of support costs Total costs Unrestricted costs Restricted costs Total costs |
Employability Young People 72,365 109,495 1,781 20,866 3,288 492 23,503 434 |
Raising funds Charitable activities Support costs (incl governance) 2022-23 costs costs Total £ £ £ £ 31,157 328,445 17,968 377,571 - - 164 164 - 64,795 - 64,795 - - 14,597 14,597 - - 4,560 4,560 - 3,006 - 3,006 - - 43,047 43,047 - - 1,847 1,847 - - 3,866 3,866 - 12,376 - 12,376 - - 501 501 |
|---|---|---|
| 31,157 408,621 86,552 526,330 11,252 75,300 -86,552 |
||
| 42,409 483,921 - 526,330 |
||
| Wick Award Family Support JP Clarke Total 23-24 41,708 97,039 0 320,606 13,750 7,157 2,502 46,056 0 1,505 0 5,284 0 6,360 1,109 31,406 |
||
| 100,936 131,287 22,590 29,383 |
55,458 112,061 3,611 403,352 12,412 25,080 89,465 |
|
| 123,526 160,669 |
67,870 137,142 3,611 492,818 |
|
| 39,950 111,772 83,576 48,898 |
11,730 9,304 0 172,756 56,140 127,838 3,611 320,063 |
|
| 123,526 160,669 |
67,870 137,142 3,611 492,819 |
5b. Analysis of charitable activities 2022-23
| 5b. Analysis of charitable activities 2022-23 | |
|---|---|
| Staff costs Activities, awards & grants Volunteers' training and expenses Facilitator expenses Allocation of support costs Total costs Unrestricted costs Restricted costs Total costs |
Volunteers Covid 19 Young People Wick Award Family Support JP Clarke Total 22-23 112,449 0 108,779 52,758 54,459 0 328,445 5,370 335 22,194 30,181 6,101 614 64,795 1,518 0 281 0 1,208 0 3,006 8,829 0 510 575 1,708 754 12,376 |
| 128,165 335 131,764 83,514 63,476 1,368 408,621 23,717 17 24,383 15,454 11,729 75,300 |
|
| 151,882 352 156,146 98,968 75,205 1,368 483,921 |
|
| 64,571 0 - 136,622 24,882 5,958 - 232,034 87,311 352 19,524 74,086 69,247 1,368 251,888 |
|
| 151,882 352 156,146 98,968 75,205 1,368 483,921 |
6. Net incoming resources
| This is stated after charging: Depreciation Trustees' meeting reimbursements Independent examination fees (£1100) plus preparation of annual accounts fees Operating lease rentals on property 6. Staff costs and numbers |
2024 2023 £ £ 789 1,847 - - 2,200 2,200 30,304 26,362 |
|---|---|
| 2024 2023 £ £ |
Page 17
Staff costs, paid through the payroll, were as follows:
| Salaries and wages Employers NI (net of employment allowance) Employers Pension Costs No employee earned more than £60,000 during the year. Total staff numbers employed during the year, and paid through the payroll (including the hourly paid), averaged 13.6 (15 in 2022/23) The average monthly number of employees (full-time equivalent) during the year was as follows: Employability Young People Wick Family Support Support Raising funds |
344,151 344,320 26,374 25,391 7,926 7,860 |
|---|---|
| 378,452 377,571 |
|
| 2024 2023 No. No. 1.41 2.39 2.81 2.86 0.82 0.85 1.95 1.15 0.56 0.41 0.56 0.57 |
|
| 8.11 8.23 |
The key management role for the day-to-day management of Hackney Quest was fulfilled by the Director, Colette Allen, who received total employee emoluments of £47,824 (£48,378 in 2022-23) including pension. The trustees were responsible for the strategic direction of the trust and none of these received any renumeration for their services.
As is detailed in the trustees report, volunteers make an invaluable contribution to the work of Hackney Quest in such areas as the Youth Entrepreneur Project, to mentoring, homework club and others. In 2023-24 there were a total of about 79 adult volunteers.
7. Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
8. Tangible Fixed Assets
| 8. Tangible Fixed Assets | |
|---|---|
| COST Opening balance Additionsin year Disposals Closing balance DEPRECIATION Opening balance Chargefortheyear Disposals Closing balance NET BOOKVALUE Closing balance Opening balance 9. Debtors Prepayments Accrued income 10. Creditors: amounts falling due within one year Taxation &socialsecurity Accruals Funds held on behalf of other charities Sundry creditors All tangible fixed assets areusedtofulfilthecharity'sobjects |
2023/24 2022/23 £ £ 23,292 24,568 - - 0 (1,276) Equipment including IT |
| 23,292 23,292 | |
| 22,003 21,432 789 1,847 0 (1,276) |
|
| 22,792 22,003 | |
| 500 1,289 | |
| 1,289 3,136 | |
| 2024 2023 £ £ 4,9884,563 -1,000 |
|
| 4,988 5,563 | |
| 2024 2023 £ £ 7,564 7,956 2,800 2,260 8,615 7,395 1,941 1,836 |
|
| 20,920 19,447 |
Note re: Funds held on behalf of other charities
Grants totalling £23,766 (£35,555 in 22/23) have been received on behalf of Account Hackney and Hackney REP with expenditure on their behalf of £20,722 (£25,199 in 22/23). Apart from admin fees of £1,825 (£2961 in 22/23), this income and expenditure has not been shown in these accounts as Hackney Quest has not had management control of these funds. Hackney Quest has acted on the instructions of these organisations regarding payments. There was a balance of funds remaining at 31/8/24 of £8,615 (£7395 at 31/8/23).
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HackneyREP is consortium of 13 volunteer sector organisations who came together to tackle the issue of school exclusions in Hackney. There is no lead organisation in the consortium, however Hackney Quest, being one of the larger organisations, was in a position to co-apply for funding and be the lead organisation in holding and distributing the funding as per the contract with Clarion and Allen & Overy. Any distribution of funding is agreed by all members of the consortium and in-line with funding guidelines.
| 11. Analysis of net assets between funds Tangible fixed assets Net current assets Net assets at 31 August 12. Movement in funds 23-24 Restricted funds JP Clarke Fund Employability, wellbeing & mentoring Young People Family Support & hardship Wick Project Parts of restricted grants to cover core costs Total restricted funds Unrestricted funds: General funds Total funds 12. Movement in funds 22-23 Restricted funds: Activities funds (fixed assets) Fixed assets purchased from restricted income from Big Lottery Total restricted attributed to fixed assets Other restricted income JP Clarke Fund Covid-19 Adult & Youth Volunteering Young People Family Support costs including salaries Wick Project Parts of restricted grants to cover core costs Total restricted funds excluding fixed assets Total restricted funds Unrestricted funds: General funds Total funds |
2024 2024 2024 2023 2023 2023 Restricted funds General funds Total funds Restricted funds General fundsTotal funds £ £ £ £ £ £ 0 500 500 0 1,289 1,289 34,944 66,790 101,734 66,060 49,739 115,799 |
2024 2024 2024 2023 2023 2023 Restricted funds General funds Total funds Restricted funds General fundsTotal funds £ £ £ £ £ £ 0 500 500 0 1,289 1,289 34,944 66,790 101,734 66,060 49,739 115,799 |
|---|---|---|
| 34,944 67,290 102,234 66,060 51,028 117,088 |
||
| Balance at 31st August 2023 Incoming resources 2023- 24 Outgoing resources 2023-24 Transfers 2023- 24 Balance at 31st August 2024 £ £ £ £ £ 16,309 0 (3,611) 12,698 25,765 62,836 (76,604) 11,997 5,782 36,687 (42,469) 0 12,500 98,424 (102,239) 8,685 0 49,115 (49,115) 0 |
||
| 60,356 247,061 (274,037) 0 33,380 5,704 41,885 (46,025) 0 1,564 |
||
| 66,060 288,946 (320,062) 0 34,944 |
||
| 51,028 240,768 (224,506) 0 67,290 |
||
| 117,088 529,715 (544,568) 0 102,234 |
||
| Balance at 31st August 2022 Incoming resources 2022- 23 Outgoing resources 2022-23 Transfers 2022- 23 Balance at 31st August 2023 £ £ £ £ £ 1,058 (1,058) 0 |
||
| 1,058 0 (1,058) 0 0 17,677 0 (1,368) 16,309 4,619 0 (352) (4,267) 0 16,366 84,341 (74,942) 25,765 0 24,094 (18,312) 5,782 0 73,382 (65,149) 4,267 12,500 6,720 64,366 (71,086) 0 |
||
| 45,382 246,183 (231,209) 0 60,356 1,500 23,825 (19,621) 0 5,704 |
||
| 46,882 270,008 (250,830) 0 66,060 |
||
| 47,940 270,008 (251,888) 0 66,060 |
||
| 85,110 240,361 (274,443) 0 51,028 |
||
| 133,050 510,370 (526,331) 0 117,088 |
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Purpose of restricted funds
Restricted income funds all refer to restricted gifts given towards various charitiable activities. As can be seen above some of these funds also cover a proprtion of the core costs as specified in the application documents.
13. Operating lease commitments
The charitable company had total future minimum payments under non-cancellable operating leases expiring as follows:
| Expiring in 0-1 years Expiring in 1-2 years Expiring in 2-5 years |
2024 2023 £ £ - - - - 31,056 31,056 |
|---|---|
The premises at 1 Poole Road are rented by Hackney Quest. A new lease was signed on the 13th July 2023 to run for 5 years at an annual rent of £30k.
On the 13th of April 2022 a lease of £1056 per annum was taken out on a photocopier for 5 years.
14. Related parties
Sophie Hewitt received £190 towards her out of pocket expenses incurred in her role as a counsellor. None of the other trustees or related parties received any renumeration or any other benefits in 2023/24 (2022/23 nil). Travel expenses of £75 were paid for one trustee to attend trustee meetings (£25 in 22/23)
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