**REGISTERED CHARITY NUMBER: 523503** ## **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST AUGUST 2023** ## **FOR** **PRISM YOUTH PROJECT** Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB **PRISM YOUTH PROJECT** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|7| |**Report of the Independent Auditors**|8|to|10| |**Statement of Financial Activities**||11|| |**Balance Sheet**||12|| |**Cash Flow Statement**||13|| |**Notes to the Cash Flow Statement**||14|| |**Notes to the Financial Statements**|15|to|24| **PRISM YOUTH PROJECT** **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST AUGUST 2023** |**TRUSTEES**|S Clark (resigned 3/11/22)| |---|---| ||S Hemsley| ||L French (resigned 30/11/22)| ||C Maxwell‐Warrior| ||R Smith (resigned 8/3/23)| ||P Stevens (appointed 8/3/23) (resigned 26/10/23)| |**PRINCIPAL ADDRESS**|Walker Drive| ||Girlington| ||Bradford| ||BD8 9ES| |**PRINCIPAL STAFF**|K Corfield (Headteacher)| ||C Marshall (Deputy Headteacher)| ||L Jackson (SENCO)| |**REGISTERED CHARITY NUMBER**|523503| |**INDEPENDENT AUDITORS**|Thomas Coombs Limited| ||Statutory Auditor| ||Chartered Accountants| ||3365 The Pentagon| ||Century Way| ||Thorpe Park| ||Leeds| ||West Yorkshire| ||LS15 8ZB| |**BANKERS**|Virgin Money| ||10 Austhorpe Road| ||Crossgates| ||Leeds| ||West Yorkshire| ||LS15 8DL| Page 1 **PRISM YOUTH PROJECT** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023** The trustees present their report with the financial statements of the charity for the year ended 31st August 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). ## **BACKGROUND** Prism Youth Project is going through a period of rapid change, moving from primarily focusing on temporary, short-term support for young people needing alternative provision to a school offering longer term development and educational support. This change is reflected in the large increase in both income and expenditure, most notably the large increase in staff costs to support a growing number of permanent students, and in repairs and renewals to provide a safe and supportive environment. This rapid expansion and change has brought a number of challenges to the organisation, including an acknowledgement that the governance as an unincorporated charity is not fit for purpose for an independent school undergoing this level of growth. The remaining members of the Board of Management are ensuring that the governance is updated and reflects the new status of Prism. The challenges of delivering a new education programme have also been recognised by Ofsted who graded the school as requiring improvement in March 2022, and a new action plan and staff structure is being developed in 2022/23 with external support. Prism offers a place for young people primarily from schools in the Bradford and Leeds district who are no longer able to deal with mainstream education. It is an invaluable and inspirational resource that should be celebrated for the work it does and the need it meets in the region. ## **Reference and Administrative Details** The Reference and Administrative Details page forms part of this report. ## **OBJECTIVES AND ACTIVITIES Charitable Aims** The aim of Prism Youth Project is to enable young people to meet their potential through a wide range of holistic social, training and educational programmes. Prism Youth Project is an innovative, vibrant and creative organisation which provides young people from across West Yorkshire with: We have worked with 126 young people this year. Over the year we have spent £125,718 on repairs and maintenance this has included the building improvements on our club site and a number of repairs from breakages and damages across the year. Prism has also worked to upskill the existing staff team supporting a number of qualifications, whilst also recruiting new staff members to support the growing number of pupils and needs. Prism was also successful in receiving funding to start September 2022 to support the Breathing Spaces project offering young people 14 – 25 with mental health to access therapy on the farm site, and volunteering opportunities to support to lower the levels of unemployment within the Bradford district. This Project started officially early 2023 and this has successfully been running ever since, with more funding sourced to support the reskinning of the polytunnel and building of the sensory garden. Prism has also been successful in receiving funding for evening groups for young people from across the district working on areas such as employment and training, exploitation antisocial behaviour. Over the next 5 years Prism’s objective is to be more accessible to a wide range of young people on both sites including more evening and weekend targeted work on the rising needs of the young people within the district. Page 2 **PRISM YOUTH PROJECT** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023** ## **OBJECTIVES AND ACTIVITIES Service Provision** Prism Youth Project offers unique opportunities and holistic provision which empowers some of the most disengaged young people to make demonstrable improvements to their life chances. We offer a wide range of holistic services delivered across two sites in the Bradford Metropolitan District Council area of West Yorkshire, utilizing the following resources: - Youth Club: - Sport hall including a climbing wall; - IT Suite; - Media Suite; - Recording Studio; - Kitchen; - Classrooms; - Office Space; and - Meeting Rooms. - City Farm: - Wide variety of large, small and exotic animals (including sheep, goats, rabbits, pigs, ducks, chickens, birds, turtles, tortoises and corn snakes); - 2 Poly tunnels and large horticulture area; - Sensory Garden - Construction projects; - Woodland walk/ nature trail; - Kitchen; - Classrooms; and - Office space. ## **Corporate Services** Prism continues to build on the established range of corporate services currently offered. These services remain appropriate to the immediate and future needs of the charity. The robust infrastructure afforded by the Management Committee and Senior Team ensure that the corporate services are kept at a level which will be both value for money and are capable of supporting future planned developments. ## **Physical Infrastructure** Prism strives to ensure the success of all two sites in an increasingly difficult financial climate. Work to update facilities and physical infrastructure is ongoing and the Senior Management Team are continuously seeking new opportunities for fundraising to ensure that the physical infrastructure of the organisation meets the needs of the young people who access the provision. ## **Partnership Working** Prism believes in the strength of working in partnership with organisation’s who share a similar aim to provide the best experience for young people. Throughout this year Prism has continued to grow and develop both existing and new partnerships including: |Local Primary Schools|Local Secondary Schools| |---|---| |Bradford Metropolitan District Council|
MIND| |Breaking the Cycle|Kirklees Council| |Early help services|Child and family trust| |Young Lives Bradford|| |Community Action Bradford and District|| |Bradford SEN department|| |Virtual School for LAC – Bradford|| Page 3 **PRISM YOUTH PROJECT** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023** ## **OBJECTIVES AND ACTIVITIES continued** ## **Future Positioning of the Charity** Prism Youth Project has a robust strategic business plan which consolidates future priorities as follows: To consolidate our position as a respected provider of alternative education in West Yorkshire. To develop our curriculum to ensure that young people get the best education within a safe and secure holistic youth work environment, which challenges and supports young people to reach their potential. To seek fundraising opportunities to develop the support offered to young people as identified by the young people themselves alongside the staff team, in areas such as crime and consequence, poverty, mental health, Behaviour management, adverse childhood experiences and exploitation. To continue to strengthen the offer of unique opportunities to meet the needs for unique young people. To deliver public benefit through lower unemployment rates and by building a skilled workforce of young people across west Yorkshire. The trustees have referred to the guidance contained in the Charity Commissions guidance on public benefit in reviewing current provisions and in the planning of future services. To strengthen our management committee by looking to recruit suitably qualified members and completing skills audits to ensure the committee can effectively support the management of the charity as a whole. ## **Public benefit** The trustees have referred to the guidance contained in the Charity Commission's guidance on public benefit in reviewing current provisions and in the planning of future services. ## **Achievements and performance** ## **Prism Independent School** Prism independent School is an alternative education programme offering accredited and non-accredited, group work with a vocational. subject, Workskills, PSHE (personal social health education functional skills: and a number intervention sessions planned to support the individual needs of the young people attending. For 2023 – 2024 we have worked with 29 pupils named as Prism in Section I of the Educational, health care plans as well as 31 young people across the year referred to Prism from main stream educational setting to support the needs of the young people with the hope of a referral back to main stream setting for the remainder of their education. ## **Evening project - Compass project** the Thursday evening facility is open for a generic open access for local young people. Up to 50 young people a night come io the club for a mixture of sports, craft, cooking and issue-based work. Page 4 **PRISM YOUTH PROJECT** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023** ## **Monday night CSE/CCE project** The Monday night group work with young people referred in for support around exploitation, they are either being exploited or at risk of exploitation. During these sessions the young people are given the opportunity to relax and work with like-minded young people on issue-based subjects. ## **Breathing Spaces** Currently runs every Saturday alternating Sundays as well as two evenings per week support young people across the district who are struggling with mental health. During these sessions the young people are offered the opportunity to access open space, get involved in practical activities whilst working alongside staff trained in mental health support. ## **Financial Review** The Statement of Financial Activities shows a surplus for the year ended 31st August 2023 of £405,434 (2022: £13,446). The surplus consists of a surplus of unrestricted funds of £392,861 (2022: surplus of £5,769) and a surplus of £12,573 (2022: surplus of £19,215) arising on restricted funds. The surplus resulted from a significant increase in the income received from Bradford Special Educational Needs, combined with successful initiatives to streamline and reduce operating costs following a restructure of the management team. The trustees are confident that the Charity is a going concern and have shown that if funding is lower than expected, the charity can reduce its operational activities and costs accordingly. Prism's principal funding sources are: - Grants - City of Bradford Metropolitan Council - Fees - Bradford Education, Individual Schools. ## **Reserves policy** It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Prism Youth Project has a range of legal and moral responsibilities to funders of its services, to those who use its services, as well as contractual commitments to employees. At 31st August 2023 the free reserves of the charity were £563,271 (2022: £203,532). This equates to 35% (2022: 15%) of annual expenditure. The trustees will review the reserves policy annually. The Trustees have agreed to earmark £233,250 to £290,000 for future capital works over a period of time. Page 5 **PRISM YOUTH PROJECT** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023** Club Refurbishment and expansions - £113,250 - £150,000 - New security fencing - Expansion of Reading/library area – ongoing - Refurbish Sports area – ongoing - Refurbish outside areas – ongoing - Create Sensory areas internally – ongoing - update all decorations in building - update computer systems and install new SMART boards Farm refurbishments and expansions - £110,000 - £140,000 - Disability friendly pathing around whole farm - ongoing - Create Sensory area - ongoing - Create Reading and library area - ongoing - Buy and train therapy animals - ongoing - Buy trailer for use for movement of animals - ongoing - Create outside classroom – ongoing - Update computer systems and install new SMART boards At 31st August 2023 the financial statements include designated funds £28,633 which have been designated for building works in future years. ## **Investment policy** The trustees periodically review the charity's investment policy to ensure that it continues to meet the needs of the charity. Funds are invested in a current account with the Virgin Bank. The Trustees have explored ways in which the free reserves are invested into additional short term and longer-term savings accounts to reduce financial risk and to generate a positive return. ## **Risk management** The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Prism Youth Project is a registered charity, the governing document is a Scheme of the Charity Commissioners dated 20th September 2010, which replaced the former trusts of the charity. The objects of Prism Youth Project are for the public benefit to advance the education of young people under the age of 25 who are resident in the area of benefit (West Yorkshire, with a preference to Bradford Metropolitan District) through: a) the provision of recreational and leisure-time activities in the interest of social welfare, designed to improve their quality of life; and b) providing support, training and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. ## **Key management personnel** Salaries of key management personnel are agreed by the board during our meetings. Increases are made in line with the raise of living expenses and due to surplus in the budget we have started to bring all salaries across the school in line with salaries in schools. ## **Disclosure of information to auditor** Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. Page 6 **PRISM YOUTH PROJECT** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to -select suitable accounting policies and then apply them consistently; -observe the methods and principles in the Charity SORP; - -make judgements and estimates that are reasonable and prudent; - -state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. Approved by order of the board of trustees on 8th February 2024 and signed on its behalf by: .............................................................................. C Maxwell-Warrier – Trustee Page 7 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF PRISM YOUITH PROJECT** ## **Opinion** We have audited the financial statements of Prism Youth Project (the ‘charity’) for the year ended 31st August 2023 which comprise of the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charity’s affairs as at 31st August 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: - the information given in the trustees' report is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 8 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF PRISM YOUITH PROJECT** ## **Auditor responsibilities for the audit of the financial statements** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial Statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the entity and industries in which it operates, we identified the principal risks of non-compliance with laws and regulations related to the application of charitable funds and data protection. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. We assessed the susceptibility of the company's financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We determined the principal risks were related to posting journal entries to manipulate profits, and management bias in accounting estimates, especially accrued income. To address the risk of fraud through management bias and override of controls, we: - Performed analytical procedures to identify any unusual or unexpected relationships. - Identified and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business. - Investigated the rationale behind significant or unusual transactions. - Challenged assumptions and judgements made by management in determining significant accounting estimates, in particular in relation to dilapidation provisions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to: - Agreeing financial statements disclosures to underlying supporting documentation. - Discussions with management of known or suspected instances of non-compliance with laws and regulations. - Reading the minutes of meetings of those charged with governance. - Reviewing correspondence with HMRC and relevant regulators including the Charities Commission and OFSTED. At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. - A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for.This description forms part of our auditor’s report. Page 9 **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF PRISM YOUITH PROJECT** ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. ………………………………………………………. Thomas Coombs Limited Statutory Auditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB Date:8th February 2024 Page 10 **PRISM YOUTH PROJECT** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023** |Notes
**INCOME FROM**
Donations and grants
2
**Charitable activities**
Youth activity
4
Investment income
3
Other
**Total**
**EXPENDITURE ON**
**Raising funds**
5
**Charitable activities**
Youth activity
6
**Total**
**NET INCOME**
**Transfers between funds**
18
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
Designated
funds
Restricted
funds
**2023 Total**
**funds**
£
£
£
**£**
**9,465**
**‐ 43,289 52,754**
**1,972,983**
**‐**
**‐ 1,972,983**
**8,032**
**‐**
**‐**
**8,032**
**400**
**‐**
**‐**
**400**
**1,990,880**
**‐ 43,289 2,034,169**
**23,141**
**‐**
**‐**
**23,141**
**1,574,878**
**‐ 30,716 1,605,594**
**1,598,019**
**‐ 30,716 1,628,735**
**392,861**
**‐**
**12,573**
**405,434**
**26,367**
**(26,367)**
**‐**
**‐**
**419,228**
**(26,367)**
**12,573**
**405,434**
**527,091 55,000 15,423 597,514**
**946,319 28,633 27,996 1,002,948**|_2022 Total funds_
_£_
_135,982_
_1,242,502_
_212_
_400_| |---|---|---| |||_1,379,096_
_22,156_
_1,343,494_| |||_1,365,650_
_13,446_
_‐_| |||_13,446_
_584,068_| |||_597,514_| Page 11 **PRISM YOUTH PROJECT** **BALANCE SHEET As at 31ST AUGUST 2023** ||||**2023**||_2022_| |---|---|---|---|---|---| ||Notes||**£**||_£_| |**FIXED ASSETS**|||||| |Tangible assets|12||**383,048**||_378,559_| |Investments|13||**‐**||_85,000_| ||||**383,048**||_463,559_| |**CURRENT ASSETS**|||||| |Debtors|15|**60,630**||_18,008_|| |Investments|14|**161,184**||_75,000_|| |Cash at bank||**582,593**||_135,406_|| |||**804,407**||_228,414_|| |**CREDITORS**|||||| |Amounts falling due within one|||||| |year|16|**(184,507)**||_(94,459)_|| |**NET CURRENT ASSETS**|||**619,900**||_133,955_| |**TOTAL ASSETS LESS CURRENT**|||||| |**LIABILITIES**|||**1,002,948**||_597,514_| |**NET ASSETS**|||**1,002,948**||_597,514_| |**FUNDS**|18||||| |Unrestricted funds|||||| |‐General|||**946,319**||_527,091_
| |‐Designated|||**28,633**||_55,000_| |‐Restricted|||**27,996**||_15,423_| |**TOTAL FUNDS**|||**1,002,948**||_597,514_| The financial statements were approved by the Board of Trustees and authorised for issue on 8th February 2024 and were signed on its behalf by: …................................. C Maxwell‐Warrior ‐ Trustee Page 12 **PRISM YOUTH PROJECT** **CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2023** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Purchase of investments
Net cash (used in)/provided by 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**|**2023**
**£**
**470,175**
**470,175**
**(29,836)**
**6,848**
**‐**
**(22,988)**
**447,187**
**135,406**
**582,593**|_2022_
_£_
_32,003_| |---|---|---| |||_32,003_| |||_(181,865)_
_212_
_(160,000)_| |||_(341,653)_| |||_(309,650)_
_445,056_| |||_135,406_| Page 13 **PRISM YOUTH PROJECT** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2023** ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest received
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by operations
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**
**Net cash**
Cash at bank
Total
**3.**
**ANALYSIS OF CHANGES IN NET DEBT**
Net income for the reporting period (as per the Statement of Financial
Activities)|**2023**
**£**
**405,434**
**25,347**
**‐**
**(8,032)**
**(42,622)**
**90,048**
**470,175**
At 1/9/22
Cash flow
£
£
135,406
447,187|_2022_
_£_
_13,446_
_16,549_
_1,305_
_(212)_
_(10,896)_
_11,811_| |---|---|---| |||_32,003_
**At 31/8/23**
**£**
582,593| ||135,406
447,187|582,593| |||| The charity had no debt during the current or previous financial year. Page 14 **PRISM YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on a going concern basis as the trustees believe no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **Income** All income 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. ## **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** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Individual assets costing more than £2,500 are capitalised. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |Long leasehold|‐no depreciation| |---|---| |Buildings (Farm)|‐2% straight line| |Building improvements (centre)|‐2% straight line| |Security fencing|‐20% straight line| |Fixtures and fittings|‐25% straight line| Expenditure is capitalised in the circumstances where it enhances the benefits of the asset in excess of its previously assessed standard performance, or where it replaces or restores a component of the asset that has been treated separately for depreciation purposes. Expenditure in relation to assets which does not meet these conditions is recognised as an expense in the year. Page 15 **PRISM YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **1. ACCOUNTING POLICIES ‐ continued** ## **Investments** Investments represent short to medium term cash deposits held for the purpose of obtaining higher rate interest income. ## **Taxation** The charity is a registered charity and as such is potentially entitled to tax exemption under section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising. ## **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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post‐retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Debtors and creditors receivable/ payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short‐term highly liquid investments with a maturity of less than one year and held for working capital. ## **Staff costs** The costs of short term employee benefits are recognised as a liability and an expense where settlement of obligations does not fall within the same period. ## **2 DONATIONS AND GRANTS** |Donations and grants|**2023**
**£**
**52,754**
**52,754**|_2022_
_£_
_135,982_| |---|---|---| |||_135,982_| Page 16 **PRISM YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** **2. DONATIONS AND GRANTS ‐ continued** |**2.**
**DONATIONS AND GRANTS ‐ continued**|||| |---|---|---|---| |National Lottery ‐ Awards for All
Chill Out Project LCF
CLA Charitable Trust
Cloth Workers Foundation
ESFA
ESF CLLD Participate Project
Groundworks Prism Employability ESF
The Green Hall Foundation
The Harry & Mary Foundation
Kellogg's
The Kick Start Scheme
Leeds Building Society‐Musical Instruments
Literacy Project‐Sir Ken & Lady Morrison
Network for Social Change
Percy Bilton Charity
Sovereign Health
Youth Music Project
Other grant income
**Total Grants**
**3.**
**INVESTMENT INCOME**
Deposit account interest|**Restricted**
**Unrestricted**
**_£_**
**_£_**
**‐**
**‐**
**4,892**
**‐**
**‐**
**2,400**
**‐**
**‐**
**‐**
**1,200**
**‐**
**‐**
**‐**
**‐**
**2,000**
**‐**
**‐**
**5,000**
**1,000**
**‐**
**‐**
**‐**
**‐**
**‐**
**5,000**
**‐**
**27,445**
**‐**
**‐**
**‐**
**‐**
**‐**
**2,952**
**‐**
**‐**
**865**
**2023**|**Total**
£
**‐**
**4,892**
**2,400**
**‐**
**1,200**
**‐**
**‐**
**2,000**
**5,000**
**1,000**
**‐**
**‐**
**5,000**
**27,445**
**‐**
**‐**
**2,952**
**865**
**52,754**
**2023**
**£**
**8,032**|_Restricted_
_Unrestricted_
_Total_
_£_
_£_
_£_
_9,702_
_‐_
_9,702_
_4,893_
_‐_
_4,893_
_‐ ‐_
_‐_
_10,000_
_‐_
_10,000_
_‐ ‐_
_‐_
_1,367_
_‐_
_1,367_
_3,972_
_‐_
_3,972_
_‐ ‐_
_‐_
_‐ 5,000_
_5,000_
_‐ ‐_
_‐_
_63,620_
_‐_
_63,620_
_970_
_‐_
_970_
_5,000_
_‐_
_5,000_
_‐ ‐_
_‐_
_2,060_
_‐_
_2,060_
_1,298_
_‐_
_1,298_
_26,569_
_‐_
_26,569_
_‐ 1,531_
_1,531_
_2022_| ||**43,289**
**9,465**||_129,4516,531 135,982 _| ||||_2022_
_£_
_212_| All investment income are unrestricted in both the current and previous financial year. Page 17 **PRISM YOUTH PROJECT** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **4. INCOME FROM CHARITABLE ACTIVITES** |Young person related income|**2023**
**£**
**1,972,983**|_2022_
_£_
_1,242,502_| |---|---|---| All income from charitable activities are unrestricted in both the current and previous financial year. ## **5.** |**EXPENDITURE ON RAISING FUNDS**||| |---|---|---| ||**2023**|_2022_| ||**£**|_£_| |Staff costs|**23,141**|_22,156_| All expenditure on raising funds is unrestricted in both the current and previous financial year. ## **6.** ## **7.** ## **EXPENDITURE ON CHARITABLE ACTIVITIES** |Transport net of contribution
**SUPPORT COSTS**
Other staff related costs
Carried Forward
Cleaning
Insurance
Incentives/learner
Travel & subsistence
Share of support costs (note 7)
Share of governance costs (note 8)
Staff costs
Training
Staff costs
Recruitment
Sessional staff
Food
Consultancy
Volunteer expenses
Accreditation
Activity costs
Animal care
Project costs
Equipment & resources|**2023**
**£**
**1,001,723**
**2,028**
**17,165**
**1,231**
**17,820**
**22,305**
**1,347**
**16,564**
**16,257**
**55,306**
**31,902**
**92**
**2,105**
**5,716**
**20,542**
**1,212,102**
**369,372**
**24,120**
**1,605,594**
**2023**
**£**
**50,713**
**4,634**
**30,563**
**5,855**
**91,766**|_2022_
_£_
_746,182_
_3,109_
_190,325_
_700_
_22,379_
_17,186_
_522_
_11,195_
_11,532_
_2,601_
_13,559_
_43_
_1,746_
_4,134_
_12,347_| |---|---|---| |||_1,037,560_
_299,792_
_6,142_| |||_1,343,494_| |||_2022_
_£_
_12,045_
_5,822_
_1,993_
_25,248_| |||_45,108_| Page 18 **PRISM YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **7. SUPPORT COSTS ‐ continued** ## **8.** |Brought forward
Postage and stationery
Bank charges
General Office Equipment
Repairs & maintenance
IT & connectivity
Rent & rates
Subscriptions & dues
Telephone
Utilities
Depreciation
Professional fees
Loss on sale of tangible fixed assets
Other expenditure
**GOVERNANCE COSTS**
Auditors' remuneration: audit
Legal fees
Auditors' remuneration: non‐audit work|**2023**
**£**
**91,766**
**18,631**
**32**
**29,312**
**125,718**
**2,113**
**10,309**
**9,390**
**10,708**
**17,437**
**25,347**
**26,582**
**‐**
**2,027**
**369,372**
**2023**
**£**
**8,340**
**4,800**
**10,980**
**24,120**|_2022_
_£_
_45,108_
_19,603_
_25_
_15,385_
_137,887_
_4,604_
_2,281_
_10,143_
_13,520_
_22,099_
_16,549_
_11,283_
_1,305_
_‐_| |---|---|---| |||_299,792_| |||_2022_
_£_
_4,432_
_1,200_
_510_| |||_6,142_| ## **9.** ## **TRUSTEES' REMUNERATION AND BENEFITS** There were no trustee's remuneration or other benefits for the year ended 31st August 2023 nor the year ended 31st August 2022. ## **Trustee's expenses** There were no trustees' expenses paid for the year ended 31st August 2023 not the year ended 31st August 2022. ## **10.** ## **STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Staff|**2023**
**£**
**969,589**
**80,760**
**25,228**
**1,075,577**
**2023**
**45**|_2022_
_£_
_709,149_
_52,643_
_18,591_| |---|---|---| |||_780,383_| |||_2022_| |||_41_| No employees received emoluments in excess of £60,000. The key management personnel of the Charity comprise of the board of trustees and the senior management team. The total employment cost to the charity of the key management personnel were £131,458 (2022: £107,547). Page 19 **PRISM YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **11. COMPARATIVES FOR THE STATEMENT OF FINANICAL ACTIVITIES** |**INCOME FROM**
Donations and
grants
Investment
Other
**Total**
**EXPENDITURE ON**
**Raising funds**
**Total**
**12.**
**TANGIBLE FIXED ASSETS**
**Transfers between funds**
**Charitable activities**
Youth activity
**Charitable activities**
Youth activity
**NET INCOME/(EXPENDITURE)**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
Designated funds
Restricted funds
Total funds
£
£
£
£
6,531 ‐ 129,451 135,982
1,242,502 ‐ ‐ 1,242,502
212 ‐ ‐ 212
400 ‐ ‐ 400| |---|---| ||1,249,645 ‐ 129,451 1,379,096| ||22,156 ‐ ‐ 22,156
1,233,258 ‐ 110,236 1,343,494| ||1,255,414 ‐ 110,236 1,365,650
(5,769) ‐ 19,215 13,446
37,633
(37,633) ‐ ‐| ||31,864
(37,633) 19,215 13,446
495,227
92,633
(3,792) 584,068| ||527,091
55,000
15,423 597,514| ||| |**COST**
At 1st September 2022
Additons
Disposals
At 31st August 2023
**DEPRECIATION**
At 1st September 2022
Charge for year
Elimiated on disposal
At 31st August 2023
**NET BOOK VALUE**
At 31st August 2023
At 31st August 2022|£
£
£
**305,707**
**50,000**
**147,830**
**3,469**
**‐**
**26,367**
**‐**
**‐**
**‐**
Building
improvements
(centre)
Long leasehold
Buildings (farm)| |---|---| ||**309,176**
**50,000**
**174,197**| ||**102,843**
**‐**
**82,987**
**6,114**
**‐**
**2,387**
**‐**
**‐**
**‐**| ||**108,957**
**‐**
**85,374**| ||**200,219**
**50,000**
**88,823**| ||202,864
50,000
64,843| Page 20 **PRISM YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** |**12.**|**TANGIBLE FIXED ASSETS ‐ continued**|||||| |---|---|---|---|---|---|---| |||Security|Fixtures and|||| |||fencing|fittings|Totals||| |||£|£|£||| ||**COST**|||||| ||At 1st September 2022|**22,868**|**83,112**|**609,517**||| ||Additons|**‐**|**‐**|**29,836**||| ||Disposals|**‐**|**‐**|**‐**||| ||At 31st August 2023|**22,868**|**83,112**|**639,353**||| |||||**‐**||| ||**DEPRECIATION**|||**‐**||| ||At 1st September 2022|**22,868**|**22,260**|**230,958**||| ||Charge for year|**‐**|**16,846**|**25,347**||| ||Elimiated on disposal|**‐**|**‐**|**‐**||| ||At 31st August 2023|**22,868**|**39,106**|**256,305**||| ||**NET BOOK VALUE**|||||| ||At 31st August 2023|**‐**|**44,006**|**383,048**||| ||At 31st August 2022|‐|60,852|378,559||| |**13.**|**FIXED ASSET INVESTMENTS**|||||| |||||**2023**|_2022_|| |||||**£**|_£_|| ||Deposit investments|||‐|_85,000_|| ||Investments relate to fixed term deposit accounts which mature one year or more after the financial year.|||||| |**14.**|**CURRENT ASSET INVESTMENTS**|||||| |||||**2023**|_2022_|| |||||**£**|_£_|| ||Deposit investments|||**161,184**|_75,000_|| ||Investments relate to fixed term deposit accounts which have maturity dates ranging from 95 days notice to 2 years fixed.|||||| |**15.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||| |||||**2023**|_2022_|| |||||**£**|_£_|| ||Debtors in the ordinary course of activities|||**‐**|_16,396_|| ||Prepayments amd accrued income|||**60,630**||_1,612_| |||||**60,630**|_18,008_|| |**16.**|**CREDITORS: AMMOUNTS FALLING DUE WITHIN ONE YEAR**|||||| |||||**2023**|_2022_|| |||||**£**|_£_|| ||Creditors in the ordinary course of activities|||**27,614**|_37,859_|| ||Taxation and social security|||**28,386**|_25,339_|| ||Accruals and other creditors|||**128,507**|_31,261_|| |||||**184,507**|_94,459_|| Page 21 **PRISM YOUTH PROJECT** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **17. LEASING ARRANGEMENTS** Minimum lease payments under non‐cancellable operating leases fall due as follows: |Within one year
Between one and five years
In more than five years
**18.**
**MOVEMENT IN FUNDS**
**Restricted funds**
National Lottery ‐ Awards for All
Chill Out Project LCF
Cloth Workers Foundation
Coop Local Community Fund
ESF CLLD Participate Project
Groundworks Prism Employability
ESF
The Green Hall Foundation
Kellogg's
The Kick Start Scheme
Leeds Building Society‐Musical
Instruments
Literacy Project‐Sir ken & Lady
Morrison
Network for Social Change
Percy Bilton Charity
Sovereign Health
Youth Music Project|Balance at 1
Sept 2021
Income
Expenditure
£
£
£
_‐_
_9,702_
_(8,956)_
_‐_
_4,893_
_(1,370)_
_‐_
_10,000_
_(10,000)_
_526_
_‐_
_(526)_
_(346)_
_1,367_
_(1,021)_
_(3,972)_
_3,972_
_‐_
_‐_
_‐_
_‐_
_‐_
_‐_
_‐_
_‐_
_63,620_
_(63,620)_
_‐_
_970_
_(970)_
_‐_
_5,000_
_(3,336)_
_‐_
_‐_
_‐_
_‐_
_2,060_
_(2,060)_
_‐_
_1,298_
_(1,298)_
_‐_
_26,569_
_(17,079)_
Movement in funds|**2023**
_2022_
**£**
_£_
**8,834**
_6,433_
**6,978**
_11,466_
**3,710**
_4,357_
**19,522**
_22,256_
Balance at 1
Sept 2022
**Income**
**Expenditure**
**Balance at 31**
**August 2023**
£
**£**
**£**
**£**
_746_
**‐**
**(746)**
**‐**
_3,523_
**4,892**
**(4,079)**
**4,336**
_‐_
**‐**
**‐**
**‐**
_‐_
**‐**
**‐**
**‐**
_‐_
**‐**
**‐**
**‐**
_‐_
**‐**
**‐**
**‐**
_‐_
**2,000**
**‐**
**2,000**
_‐_
**1,000**
**(1,000)**
**‐**
_‐_
**‐**
**‐**
**‐**
_‐_
**‐**
**‐**
**‐**
_1,664_
**5,000**
**(5,004)**
**1,660**
_‐_
**27,445**
**(7,445)**
**20,000**
_‐_
**‐**
**‐**
**‐**
_‐_
**‐**
**‐**
**‐**
_9,490_
**2,952**
**(12,442)**
**‐**
**Movement in funds**| |---|---|---| ||_(3,792)_
_129,451_
_(110,236)_|_15,423_
**43,289**
**(30,716)**
**27,996**| National Lottery ‐ Awards for All ‐This is a one‐year grant to fund sporting equipment to offer the young people more activities and improve facilities. Chill Out Project LCF Co‐op Local Community Fund ESF CLLD Participate Project ‐This is a two‐year grant to cover costs for a two‐year evening project for young people to meet new friends, have fun, learn new skills and be creative by doing a variety of activities to enhance their confidence, self‐ esteem and wellbeing and increase their aspirations for the future. ‐This is a local fund‐raising initiative from the coop connected to the Keighley stores. It is for tools for the volunteer programme and made a big difference to the volunteering team at Woodville. ‐This project delivers enterprise awareness activities, pre‐start and start‐up support, in the most disadvantaged areas. The project supports people to establish social economy businesses and trading organisations (Community Interest Companies, Social Enterprises, Charitable Incorporated Organisations, Community Businesses, Co‐operatives) within the CLLD area, Between April 2019 and March 2022. Beneficiaries may have direct experience of social issues they wish to address through enterprise, or face specific issues that make enterprise a viable option. Support will target people unlikely to access mainstream enterprise support, promoted through existing relationships with charities in Keighley. PRISM provides free start‐up space at their Woodville site for pre‐start individuals and newly established organisation's. This includes office and workshop space, Wi‐Fi, kitchen and peer support from PRISM staff and the existing social Page 22 **PRISM YOUTH PROJECT** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **18.** **MOVEMENT IN FUNDS ‐ continued** Green Hall Foundation ‐Funding towards building a Therapeutic Sensory Garden at the City Farm. This multi –sensory garden will be specifically designed to engage the senses and provide a relaxing stress free space for our young people with special educational needs and also for our volunteers who may suffer from anxiety and mental health issues. Kellogg’s ‐Funding awarded specifically to help to support the running of our Breakfast Club and to aid its future sustainability at Prism Independent School. Our Breakfast Club encourages social interaction with other pupils and provides a nutritional breakfast for some of the most disadvantaged young people. Sovereign Health ‐We provided sessions promoting sexual health and educating the young people in regards to their sexual health and relationships. Youth Music Project ‐We raised funds for the new music project using quality equipment & resources for all young people attending Prism to increase skills and knowledge in music production, design and development and instrumental ability and achieve accreditation. Cloth Workers Foundation ‐This is a grant towards the refurbishment of the studio for Prism to continue supporting disadvantaged young people in Bradford. Leeds Building Society‐Musical Instruments ‐This is a one‐year grant towards musical instruments as part of the new music project. Literacy Project‐Sir Ken and Lady Morrison ‐This is a two year grant towards funding staffing costs for the two year Literacy Project which offers personalised one to one support to young people with Special Educational Needs to enhance their confidence. Network for Social Change ‐Awarded £20,000 towards the staffing costs of a specialist mental health youth worker on our Breathing Spaces project at our City Farm which uses Eco therapy to support young people. Eco therapy is a personalised approach to preventing, managing and aiding recovery of mental health issues. The Kick Start Scheme ‐Provided funding to create new jobs for 16 to 24 year‐olds on Universal Credit who are at risk of long term unemployment. In addition to the restricted funds abouve, CLA Charitable Trust awarded Prism unrestricted funding of £2,400 towards building 2 new animal shelters at the City Farm. ## **Designated funds** £55,000 had been designated in 2022 for building works in future years. The fund has been partially released in 2023 following the creation of a new reception area at the School. ## **19. ANALYSIS OF NET ASSETS BY FUND** |At 31 August 2023
Tangible assets
Investments
Net current assets
At 31 August 2022
Tangible assets
Investments
Net current assets|**Restricted funds**
**Total**
**General**
**Designated**
**£**
**£**
**£**
**£**
**383,048**
**‐**
**‐**
**383,048**
**‐**
**‐**
**‐**
**‐**
**563,271**
**28,633**
**27,996**
**619,900**
**Unrestricted funds**| |---|---| ||**946,319**
**28,633**
**27,996**
**1,002,948**| ||_Restricted funds_
_Total_
_General_
_Designated_
_£_
_£_
_£_
_£_
_378,559_
_‐_
_‐_
_378,559_
_85,000_
_‐_
_‐_
_85,000_
_63,532_
_55,000_
_15,423_
_133,955_
_Unrestricted funds_| ||_527,091_
_55,000_
_15,423_
_597,514_| Page 23 **PRISM YOUTH PROJECT** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** ## **20. RELATED PARTY DISCOLSURES** ## **Titus Salt School** A senior employee of the school was a trustee of the charity (until June 2022). In the prior year the charity received £44,457 from the school for provision of services. ## **Vision for Education** Vision for Education, whom the Charity had a trustee in common with during the year, paid Prism Youth Project £nil (2022: £400) for the hire of the hall. The charity paid £7,142 (2022: £101,957) to Vision for Education for sessional staff and £51,088 (2022: £nil) for consultancy work during the year. ## **Mr P Craven** Mr P Craven is the father of a member of key management personnel and was employed by the Charity in April 2021 with a gross wage of £11,471 in the year (2022: £30,845). ## **Mr P Corfield** Mr P Corfield is the Husband of a member of key management personnel and is employed part time at a cost of £11,533 in 2023 (2022: £15,853). Mr P Corfiled has been employed since 2006. Page 24