The Young Programme Limited - Charities report - 22.2
The Young Programme Limited - Charities report - 22.2
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 30 June 2023 |
| for |
| The Young Programme Limited |
| The Young Programme Limited |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| The Young Programme Limited (Registered number: SC282589) |
| Report of the Trustees |
| for the Year Ended 30 June 2023 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| The principal activity of the company is that of sponsoring and promoting educational events. |
| ACHIEVEMENT AND PERFORMANCE |
| The charity runs the Young Ireland Programme and also aims to provide endowed places in other Young Programme events for young people who work or volunteer in the charitable sector and whose employers are therefore unlikely to be able to afford the costs of the programme. The charity was also responsible for maintaining the Young Programme website and sponsored prizes in events run by other charities with the aim of encouraging the intellectual development of young people. |
| FINANCIAL REVIEW |
| Total income of £125,517 (2022 - £107,883) was received during the year. |
| Total expenditure incurred was £103,779 (2022 - £75,556). |
| At the end of the year net incoming resources were £21,738 - (2022 - incoming £32,327). Further details are provided in the notes. |
| The charity's income comes in the main from The Young Programme Events Ltd. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The company is limited by guarantee and was incorporated on 3 April 2005. It is governed by it Memorandum and Articles of Association dated 30 March 2005. It is registered as a Scottish Charity, under number SC036433. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each. |
| Recruitment and appointment of new trustees |
| The trustees who served during the period were as shown in the "Reference and Administrative Details" section below. |
| The Articles of Association do not require trustees to retire from the Board by rotation. The trustees have the power to appoint any person to the board of trustees, whether to fill a casual vacancy, or otherwise. |
| The trustees are appointed by the members in General Meeting and from their number a Chairperson is appointed. There is no maximum number of trustees but there shall not be less than three. New trustees undergo an appropriate induction programme to brief them on their obligations under charity and company law and the financial performance of the company. |
| Trustees are entitled to receive remuneration and expenses in accordance with the Articles of Association. |
| The Young Programme Limited (Registered number: SC282589) |
| Report of the Trustees |
| for the Year Ended 30 June 2023 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Marcus D MacIver CA |
| Mackay & Co |
| Chartered Accountants |
| Unit 8 |
| Golspie Business Park |
| Golspie |
| Sutherland |
| KW10 6UB |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| The Young Programme Limited |
| I report on the accounts for the year ended 30 June 2023 set out on pages four to twelve. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 I do not express an audit opinion on the view given by the accounts. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention : |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
| - | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Marcus D MacIver CA |
| The Institute of Chartered Accountants of Scotland |
| Mackay & Co |
| Chartered Accountants |
| Unit 8 |
| Golspie Business Park |
| Golspie |
| Sutherland |
| KW10 6UB |
| 14 November 2023 |
| The Young Programme Limited |
| Statement of Financial Activities |
| for the Year Ended 30 June 2023 |
| 30.6.23 | 30.6.22 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies | 2 |
| EXPENDITURE ON |
| Charitable activities | 3 |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 105,111 |
| The Young Programme Limited (Registered number: SC282589) |
| Balance Sheet |
| 30 June 2023 |
| 30.6.23 | 30.6.22 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 105,111 |
| TOTAL FUNDS | 105,111 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| The Young Programme Limited (Registered number: SC282589) |
| Balance Sheet - continued |
| 30 June 2023 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| The Young Programme Limited |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. |
| 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. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| The Young Programme Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 2. | DONATIONS AND LEGACIES |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Donations |
| Enrolment fees |
| 3. | CHARITABLE ACTIVITIES COSTS |
| Support |
| Direct | costs (see |
| Costs | note 4) | Totals |
| £ | £ | £ |
| General | 103,083 | 696 | 103,779 |
| 4. | SUPPORT COSTS |
| Governance |
| costs |
| £ |
| General | 696 |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| Although there were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022, consultancy fees of £12,000 were paid to Ms F C MacDonald and of £12,000 to Ms I McLeod, in both years. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
| The Young Programme Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 105,111 |
| 7. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| MARKET VALUE |
| At 1 July 2022 and 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 | 2 |
| At 30 June 2022 | 2 |
| There were no investment assets outside the UK. |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Registered office: |
| Nature of business: Event organising |
| % |
| Class of share: | holding |
| The Young Programme Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Accrued expenses |
| 10. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.7.22 | in funds | 30.6.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 105,111 | 21,738 | 126,849 |
| TOTAL FUNDS | 21,738 | 126,849 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 125,517 | (103,779 | ) | 21,738 |
| TOTAL FUNDS | ( |
) | 21,738 |
| The Young Programme Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 10. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.7.21 | in funds | 30.6.22 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 72,784 | 32,327 | 105,111 |
| TOTAL FUNDS | 72,784 | 32,327 | 105,111 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 107,883 | (75,556 | ) | 32,327 |
| TOTAL FUNDS | 107,883 | (75,556 | ) | 32,327 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.7.21 | in funds | 30.6.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 72,784 | 54,065 | 126,849 |
| TOTAL FUNDS | 72,784 | 54,065 | 126,849 |
| The Young Programme Limited |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 10. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 233,400 | (179,335 | ) | 54,065 |
| TOTAL FUNDS | 233,400 | (179,335 | ) | 54,065 |
| 11. | RELATED PARTY DISCLOSURES |
| During the year, consultancy fees of £12,000 were paid to Ms F C MacDonald and consultancy fees of £12,000 were paid to Ms I McLeod. Both individuals are also trustees of the charity. |
| 12. | ULTIMATE CONTROLLING PARTY |
| In the opinion of the trustees, there is no ultimate controlling party. |