report of the trustees and financial statements for … · 3 the worth foundation limited (a...

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REGISTERED COMPANY NUMBER (England and Wales): 3451215 REGISTERED CHARITY NUMBER: 1068782

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS For the year to 31 August 2019

FOR

THE WORTH FOUNDATION LIMITED (A Company Limited by Guarantee)

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CONTENTS OF THE FINANCIAL STATEMENTS for the Year to 31 August 2019

Page Report of the Trustees 3 - 7 Independent Examiner’s Report 8 Statement of Financial Activities 9 Comparative Statement of Financial Activities 10 Balance Sheet 11 Cash Flow Statement 12 Notes to the Financial Statements 13 - 23

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REPORT OF THE TRUSTEES

For the Year to 31 August 2019

The Trustees, who are also Directors of the charitable company for the purposes of the Companies Act, present their report with the financial statements of the charity for the year to 31 August 2019. The financial statements comply with the Charities Act 2011, the Companies Act 2006 and the provisions of the Statement of Recommended Practice Charities SORP 2015 (FRS102). REFERENCE AND ADMINISTRATIVE DETAILS Name: The Worth Foundation Limited (known as Worth Unlimited) Registered Company number: 3451215 (England and Wales) Registered Charity number: 1068782

Registered Office and Principal Office

434 Forest Road Walthamstow London E17 4PY

Trustees:

A Collishaw (Chairman) A D Boul K Rayner Lunn M Watson A Muhumuza (Resigned 06/01/2020) Chief Executive T Evans Bankers:

Unity Bank Nine Brindleyplace Birmingham B1 2HB

Independent Examiner: Michael Harwood FCA Michael Harwood & Co Chartered Accountants Greville House 10Jury Street Warwick CV34 4EW

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OBJECTIVES AND ACTIVITIES Objects, aims, strategy to achieve Worth Unlimited is a national Christian charity and social enterprise, dedicated to inspiring hope. We equip and support people to harness their passions, gifts, skills and talents to be locally rooted enablers of hope and transformation. Our extensive experience has taught us that people flourish and become change-makers when they have a good sense of self, healthy relationships and purpose. We have a substantial track record of working alongside people of all ages, particularly young people, to remove barriers, foster well-being and build stronger, more resilient, better connected communities. We are committed to making a high-quality, relational and innovative investment in our communities. Our teams provide mutual support and encouragement; sharing learning and good practice, to sustain each other for long-term working and making the greatest possible impact. Our member branches are situated in the London Borough of Waltham Forest, Loughton (Essex), Birmingham, Huddersfield, Lincolnshire, Doncaster, Colchester and Ellesmere Port with a variety of projects, including;

• Alternative education

• Counselling

• Detached youth work

• Mentoring

• Mobile youth bus

• Personal development programmes

• Residentials

• School-based provision

• Social enterprise training

• Social action opportunities

• “That Reading Thing” literacy programme

• Therapeutic horticulture

• Youth club sessions

• Work with young offenders

• Leadership training for emerging leaders from urban priority areas Our paid and voluntary youth workers focus on developing positive, transformative relationships with young people, using good youth work skills to help develop hope and potential in individuals. In order to facilitate this, we base our work around our four-stage Participant Pathway:

• Contact – building meaningful relationships of trust

• Interests and Activities – using fun activities to help young people to develop skills, confidence and self-esteem

• Focused Interventions – fostering young people’s personal development and enabling them to identify their purpose

• Giving Back – providing opportunities for young people to contribute to society and use their skills to benefit others

Review of activities and fundraising Worth Unlimited has a devolved ethos, so our branches relate primarily to their local communities. We retain the core functions of the organisation at our central office, but encourage innovation and bespoke solutions to local challenges in our branches. We are also keen to see the development of local people, particularly young people, where possible. This locally-focussed approach has its challenges, particularly around common fundraising, but we believe we have made significant progress over the past year. During the year, we invested time and finance in developing our infrastructure, including increasing our communications; refining and embedding our Theory of Change and mechanisms for impact assessment; and strengthening our central capacity for fundraising and developing social enterprise. Following some long-standing difficulties in securing appropriate funding and a number of staffing changes, we took the decision to close our Colchester (Out4Good) branch in February 2019. We are proud of everything that Out4Good achieved, providing intensive support for young adults experiencing complex needs and chaotic circumstances in Colchester, Essex. Between September 2017 and January 2019, Out4Good worked with 42 young adults, providing mentoring; delivering programmes in anger management, consequential thinking, communication skills and healthy relationships and supporting 10 people to secure and successfully maintain a tenancy.

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We were delighted to welcome Darlington Area Churches Youth Ministry (DACYM), who joined us as a partner branch on 1st September 2019. While a registered charity and therefore legally a separate entity from Worth Unlimited, DACYM joined us because they wanted to belong to something bigger, while retaining their own identity. All of the tools, resources and services offered to member branches are available to partner branches. We have been grateful for ongoing partnerships with Newbigin House, Frontier Youth Trust, Open Door Community Foundation, the Oxford Kilburn Youth Trust and Firs and Bromford Neighbours Together, which have enabled us to cover some of the core costs of our organisation and therefore increase our capacity to drive forward our strategic plan. We are pleased to have resourced and served alongside them. ACHIEVEMENTS AND PERFORMANCE Worth Unlimited employs 25 youth workers (approximately 14 full time equivalents) through its branches, working in over 14 neighbourhoods. Over the course of the year we have had contact with over 2,900 young people. These young people will have varying levels of intervention with us. Some take part in short-term or drop-in type programmes, while others will be involved more intensive work, such as weekly mentoring or counselling. The highlights from each branch are as follows: Darlington (Darlington Area Churches Youth Ministry) DACYM specialises in emotional and behavioural support for young people, delivering a range of projects across Darlington and the surrounding areas, such as listening and mentoring; discussion groups; activities to support children transitioning from primary to secondary school; reflection/prayer spaces; residentials, outdoor activities and retreats for young people and RE and PSHE lessons in schools. During 2018-19, we worked with 200 young people, supporting 125 individuals across Darlington through the Listening Post. Our residentials, Breathe Youth Retreat and the Quest Weekend, were particular highlights of the year. Doncaster Worth Unlimited for Doncaster focuses on developing the skills, passions and motivations of local people to mentor young people, in particular those at risk of not flourishing in society. To do this we recruit and train mentors and deploy them in partner schools. Through our mentoring programme young people, ranging in age from 5-18, experience transformation in behaviour, self-confidence and self-esteem, which results in keener engagement, more aspirational goals and higher levels of achievement. In 2018-19, we significantly expanded our work from supporting 9 schools at the beginning of the year to supporting 19 by the end of the year. We provided one-to-one mentoring for 300 young people, as well as training 35 young people to become peer mentors. East Birmingham and North Solihull During 2018-19, we have worked with around 500 young people. We have continued to work in close partnership with Open Door Community Foundation to run ‘Together We Can!’ (TWC), a 3-year project within the Firs and Bromford neighbourhood, which brings together youth work and adult-focused community-building work to maximise the opportunities for intergenerational (as well as cross-cultural) interaction and relationship-building. Through TWC, we have provided one-to-one support for 35 young people and opportunities for local children and young people to participate in intergenerational and youth social action projects. We have continued to run a number of open access youth sessions and our social enterprises Gear Up (cycle business) and Listen Threads (clothing brand). Highlights of the year have included: becoming more intentional with our asset-based approach; strengthening a sense of togetherness and team among the staff and volunteers; participating in the Birmingham Knife Angel Walk, and a youth-led Youth Iftar. Ellesmere Port Our Ellesmere Port branch is passionate about literacy and community and champions the programme ‘That Reading Thing’. We work with schools, colleges, churches, youth organisations and out in the community, to help people discover they can read. We both work directly with individuals and train volunteers or staff to deliver the programme themselves. This year, we delivered That Reading Thing directly with 6 young people and 2 adults. We also trained 3 volunteers in That Reading Thing. Huddersfield Worth Unlimited Huddersfield operates from Longley and Lowerhouses Community Church, providing youth clubs and other food and learning related programmes for the children and adults of Longley and Lowerhouses Area. In 2018-19, we worked with 152 children and young people and 82 adults. During term-time, we ran a programme of craft and games clubs, cooking clubs for adults and children, a lunch club for older people and a toddler group. We provided meals throughout the school holidays for children and their families, targeted at (but not restricted to) children who would have received free school dinners during term-time. Highlights of the year included: receiving corporate sponsorship; recruiting new individual donors; the growth and development of our local steering group and being Match Sponsors for Huddersfield Town Football Club's opening match in the 2018/19 season.

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Lincolnshire (The Oasis) The Oasis is a social and therapeutic garden, a peaceful and restorative environment in which young people can engage in self-discovery, improve their physical and mental health and develop their practical, communication and thinking skills, emotional intelligence and character. The site at Cherry Willingham is flourishing and was utilised by over 100 children and young people in 2018-19. We ran the ‘Flourishing from the Margins’ programme with 2 groups of young people and have begun exploring rolling this out to other schools. We also launched a Young Volunteers Scheme, at the suggestion and request of some of the young people. Loughton (Spark) In 2018-19, Spark changed focus, moving from delivering alternative education to providing a range of counselling and mentoring services for children and young people, both in primary and secondary schools and in the community. During the year, we delivered more than 1,200 counselling appointments and more than 700 mentoring sessions as well as a number of commissioned workshops in schools covering various aspects of emotional wellbeing. We recruited 25+ volunteer counsellors and mentors, including much-needed male mentors. Waltham Forest Worth Unlimited in Waltham Forest works with young people and families from communities of social deprivation. We work at building supportive lasting relationships where young people and participants feel valued. We provide and help young people engage in positive activities, where they can develop skills and create community. In 2018-19, we worked with a total of 395 young people through our open access youth work sessions and projects focused on art, bikes and social action. We continued to run weekly sessions with our Mobile Youth Venue (youth bus) in five local housing estates (Beaumont, Oliver Close, Priory Court, Boundary Road and Cathall), enabling young people to access information and support from trained youth workers, whilst engaging in positive activities such as cooking, games and quizzes. We supported 4 young people through one-to-one mentoring. In January 2019, we faced some painful challenges when 14-year-old Jaden Moodie was murdered at the same time and in the same street as one of our youth bus sessions. Both the young people we work with and the Waltham Forest team were deeply affected by his death. However, the year also had a number of highlights, including positive local and national press coverage; an increase in the numbers of volunteers supporting our sessions; recruitment of new donors and young people completing their GCSEs and going onto Sixth Form colleges or finding employment. Urban Change Makers Urban Change Makers (UCM) is a 10-month leadership development programme that focuses on emerging, working-class leaders from urban priority areas. UCM is delivered in partnership with Newbigin School for Urban Leadership and run in conjunction with local hubs, who nominate participants and support their development locally. In 2018-19, we ran the programme with 13 young adults. SAFEGUARDING CHILDREN AND YOUNG PEOPLE As a provider of youth work services, we are keen to work with young people to reduce the abuse that they sometimes suffer, ensure that they are safe while engaging in our activities and are cared for when dealing with the consequences of abuse. The Board continues to give priority in ensuring that our policies are up to date, our staff training is appropriately implemented and the correct action is taken when allegations are made. FINANCIAL REVIEW AND PLANS FOR THE FUTURE The challenge of running a charitable organisation in these economic times continues to be a significant area of attention. Over recent years, our income from statutory funding sources has reduced from somewhere in excess of £150k to now less than £20k. We are grateful to have made it this far and continue to work hard at diversifying income streams which increase our ability to be sustainable in the coming years. The trustees wish to place on record their appreciation of hard work, passion and commitment that the staff and volunteers of the organisation generously give. We also recognise those individuals and organisations who have sacrificially supported us over the past year as well as those who have participated in various personal physical challenges to raise funds. Our restricted income for the year was £525,570 and we ended the year with £102,665 yet to be spent on specific projects. In addition, we received unrestricted income of £193,075. In order to be clearer about funds that are actual free reserves, the trustees have introduced a Designated Reserve fund. The current position of this fund is £72,500, which is an improvement of our previous financial year but still lower than desired. In the current climate, it is going to be difficult to increase the current position quickly, but the board remain committed to doing so. It should be noted that a large number of our workforce are on fixed-term employment contracts which are linked to the dates of the grant funding which funds their work, thus reducing our

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STATEMENT OF FINANCIAL ACTIVITIES

(Including Income and Expenditure Account)

For the Year Ended 31 August 2019

Year ended

31.8.19 Unrestricted Restricted Total

funds funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM: Donations and Grants 2 58,026 492,043 550,069 Charitable activities 3 134,773 33,527 168,300 Investment income 4 276 - 276

Total

193,075

525,570

718,645

RESOURCES EXPENDED Grants - 93,080 93,080 Charitable activities 5 195,921 469,033 664,954

Total 195,921 562,113 758,034

Net incoming/(outgoing) resources being net expenditure for the year (2,846) (36,543) (39,389)

Transfers between funds 24,716 (24,716) -

Net movement in funds 21,870 (61,259) (39,389)

RECONCILIATION OF FUNDS

Total funds brought forward 91,682 163,924 255,606

TOTAL FUNDS CARRIED FORWARD 15 113,552 102,665 216,217

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STATEMENT OF FINANCIAL ACTIVITIES

(Including Income and Expenditure Account)


Year ended

31.8.18 Unrestricted Restricted Total

funds funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM: Donations and Grants 2 52,474 449,880 502,354 Charitable activities 3 127,836 39,867 167,703 Investment income 4 159 - 159

Total

180,469

489,747

670,216

RESOURCES EXPENDED Grants - 72,312 72,312 Charitable activities 5 204,787 460,783 665,570

Total 204,787 533,095 737,882

Net incoming/(outgoing) resources being net expenditure for the year (24,318) (43,348) (67,666)

Transfers between funds 19,331 (19,331) -

Net movement in funds (4,987) (62,679) (67,666)

RECONCILIATION OF FUNDS

Total funds brought forward 96,669 226,603 323,272

TOTAL FUNDS CARRIED FORWARD 15 91,682 163,924 255,606

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CASH FLOW STATEMENT


2019 2018

£ £ CASH FLOW FROM OPERATING ACTIVITIES Net Movement in Funds – (Outgoing) per SOFA (39,389) (67,666) Adjustments for: (Increase) / Decrease in Debtors 1,026 (11,644) (Decrease) / Increase in Creditors 5,981 (13,296)

Net Increase / (Decrease) in Cash and Cash Equivalents

(32,382) (92,606)

Opening Cash and Cash Equivalents

239,606 332,212

Closing Cash and Cash Equivalents 207,224 239,606

Cash at Bank at the Year End 207,224

239,606

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NOTES TO THE FINANCIAL STATEMENTS


1. ACCOUNTING POLICIES

Basis of preparation The financial statements have been prepared in accordance with the methods and principles of the Statement of Recommended Practice (Charities SORP 2015 (FRS 102). Income Voluntary income and donations are accounted for once the charity has entitlement to the income and it is probable that the income will be received. Grants are accounted for as receivable on a pro-rata basis. Any grants received before the year end in respect of a period that ends beyond the year end are deferred accordingly. The income from fundraising ventures is shown gross, with the associated costs included in the fundraising costs. VAT Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities. Expenditure Resources expended are recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. Charitable activities The sole charitable activity is the operation of a Christian youth work agency. Charitable expenditure comprises all direct expenditure in respect of support of workers, training and other direct expenses relating to specific projects. Staff costs are charged to restricted funds by reference to an estimated percentage of their work done throughout the year. Governance costs These represent the costs of complying with statutory requirements. Taxation The company is a registered charity and is therefore exempt from taxation under Chapter 3 of Part 11 of the Corporation Taxes Act 2010. Investment in trading subsidiary company The investment in a wholly owned trading subsidiary company has been reflected at the historical cost of acquiring the subsidiary and is considered to be fairly stated in light of the fairly modest net asset value of the subsidiary at the balance sheet date. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Fund Accounting The charity maintains two types of funds as follows:- Restricted funds Restricted funds represent grants, donations and other income received which the donor allocates for specific purposes. Unrestricted funds Unrestricted funds represent funds that are expendable at the discretion of the Trustees in the furtherance of the objects of the charity. Such funds may be held in order to finance working capital investment. Designated funds are those funds which are unrestricted in nature but which have been designated by the trustees to be used in a particular manner.

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NOTES TO THE FINANCIAL STATEMENTS


2. GRANTS AND DONATIONS 31.08.19 31.08.18

£ £ Donations 49,499 61,032

Aviva - 4,928

Big Local Trust 73,150 57,775

Birmingham City Council 7,500 7,500

Children in Need 7,499 11,999

City & Metropolitan Welfare Charity 2,000 -

Community Learning Works 2,025 -

Doncaster Metropolitan Borough Council 39,773 5,158

Dyson Associates 2,000 1,500

Epping Forest District Council 10,000 1,697

Essex Community Foundation - 23,000

Essex Police and Crime Commissioner 15,742 1,367

Firstfruits Foundation 5,165 -

Grange Farm Centre Trust 1,500 -

Groundwork (Tesco Bags of Help) 1,000 -

Heart of England Community Foundation - 3,450

Huddersfield Town Foundation 2,442 1,189

Kirklees Council 1,875 2,500

London Borough of Waltham Forest 1,350 2,300

Loose Change Charity 2,510 -

National Lottery Community Fund - Awards for All - 9,950

National Lottery Community Fund – Youth Investment Fund (Jointly with DCMS)

171,729 170,774

National Lottery Community Fund – Reaching Communities 123,036 119,607

National Lottery Heritage Fund 11,600 -

One17 Foundation 4,800 4,400

One Community Foundation 1,000 -

Other 1,941 1,900

StreetGames - 3,000

Subs and Contributions to Activities 5,933 2,828

Westhill Foundation - 1,500

William Brooke Benevolent Fund 5,000 3,000

550,069 502,354

We are also grateful to the following organisations for their small grants: Thomas Dole Charity and The Rotary Club of Chingford.

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NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

For the Year Ended 31 August 2019 3. INCOME FROM CHARITABLE ACTIVITIES

31.08.19 31.08.18

£ £ Contracted work 145,893 154,624 Fundraising income 9,768 6,191 Other income 12,639 6,888

168,300 167,703

4. INVESTMENT INCOME 31.08.19 31.08.18

£ £

Interest on bank current and deposit accounts 276 159

5. CHARITABLE ACTIVITIES COSTS

Direct costs Support costs (See note 6) (See note 7) Totals

£ £ £ Charitable activities 614,099 50,855 664,954

6. DIRECT COSTS OF CHARITABLE ACTIVITIES

31.08.19 31.08.18 £ £ Staff costs (note 11) 547,177 511,925 Programme costs 66,922 95,850

614,099 607,775

7. SUPPORT COSTS

Support costs, included in the above, are as follows:

31.08.19 31.08.18 £ £

Rent 11,462 8,991 Rates 444 133 Water rates 376 57 Utilities 394 544 Print, post and stationery 813 462 Publicity 6,776 9,166 Telephone 1,625 1,690 Office equipment and software and supplies 12,000 7,362 Insurance 3,063 4,614 Maintenance 2,895 4,502 Subscriptions 487 482 Professional fees 347 1,040 Bank Charges 600 613 Miscellaneous - 914 Independent Examination fee 3,900 3,720 Meeting expenses 307 209 Fundraising costs 911 285 Consulting 4,455 12,981

50,855 57,795

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For the Year ended 31 August 2019

9. NET INCOMING RESOURCES

Net resources are stated after charging:

31.08.19 31.08.18 £ £

Independent examiner’s fee 3,900

3,720

10. TRUSTEES' REMUNERATION AND BENEFITS

Trustees’ Remuneration No Trustee received remuneration for the year ended 31 August 2019 (2018: Nil)

Trustees' Expenses Trustees' travel expenses amounting to £307 were reimbursed to Trustees for the year ended 31 August 2019 (2018: £209).

11. STAFF COSTS

31.08.19 31.08.18

£ £ Wages and salaries 423,395 386,925 Social security costs 25,628 24,767 Pension 23,758 19,143 Other staff related costs 74,396 81,090

547,177 511,925

Average number of staff on the payroll during the year 25, 23 === ===

The number of full-time equivalent staff numbers were 15 14 === ===

No employee earned in excess of £60,000 either this year or last.

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12. FIXED ASSET INVESTMENTS

Shares in Group Undertaking COST At 31st August 2019 1

NET BOOK VALUE At 31st August 2019 1

The company’s investment in the company below is as follows:- Worth Enterprises Limited Country of Incorporation: England Nature of Business: Provision of employment opportunities for young people in bicycle maintenance. Ordinary Shares of £1 each 100% held Worth Enterprises Limited was incorporated on 9th February 2009, commenced trading in December 2011, and made its first accounts to 31st August 2012. At 31.8.2019 £ Aggregate capital and reserves (Net Deficiency) (£12,731)

Loss for the year

£4,641)

The Worth Foundation Limited has taken advantage of the exemption from preparing group accounts conferred by Para 19 (1a) of The Charities (Accounts and Reports) Regulations 2008, on the grounds that the results of the subsidiary are not material for the purposes of giving a true and fair view.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.08.19 31.08.18 £ £

Trade debtors 14,907 6,943 Amount due from group undertaking 11,463 7,250 Prepayments and accrued income 877 14,040

27,247 28,273

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.08.19 31.08.18 £ £

Trade creditors 6,063 5,207 Accrued expenses and deferred income 12,192 7,067

18,255 12,274

Income deferred in 2019 amounts to £3,000 (2018: £Nil).

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For the Year Ended 31 August 2019 15. MOVEMENT IN FUNDS

At 1.9.18

Net movement

in funds

Interbranch

Transfers re Internal

Management Fees

Transfers

between funds At 31.8.19

£ £ £ £ £ Unrestricted funds

Doncaster 21,695 2,417 (1,241) - 22,871 East Birmingham and North Solihull 17,395 11,571 (1,804) 1,200 28,362 Ellesmere Port 846 (45) (159) - 642 Spark 42,657 (7,442) (3,035) - 32,181 Huddersfield 4,740 263 (371) - 4,632 Lincolnshire 6,417 1356 (808) - 6,965 Out4Good (183) 200 (17) - - Waltham Forest 12,079 6,513 (1,117) - 17,475 National (13,964) (17,680) 32,068 - 424

91,682 (2,846) 23,516 1,200 113,552

Restricted funds Doncaster - 7,930 (3,977) - 3,953 East Birmingham and North Solihull 45,467 (32,124) (11,454) 29,573 31,462 Ellesmere Port 1,980 584 (200) - 2,364 Spark 17,733 (7,725) (1,502) - 8,106 Huddersfield 3,369 2,123 (2,153) - 3,339 Lincolnshire - - - - - Out4Good - 200 (200) - - Waltham Forest 33,096 (5,138) (4,030) - 23,928 National 62,679 (2,393) - (30,773) 29,513

163,924 (36,542) (23,516) (1,200) 102,665

TOTAL FUNDS 255,606 (39,389)

- - 216,216

Designated Funds As stated in the Financial Review and Plans for the Future, the Trustees were mindful of the need to focus on the level of actual free unrestricted reserves. The Reserves Policy as noted on Page 7 states that the charity aims to maintain unrestricted reserves at a level sufficient to cover three months of staff salary costs. The Trustees have set aside £72,500 within the Designated Reserve Fund for this purpose as at the year end. The Designated reserves remain a form of Unrestricted Reserve and the Trustees have the discretionary powers to reverse this policy in the future if they so wish.

The Unrestricted Reserves Balance at the balance sheet date is as follows:

31.08.19 31.08.18 £ £

Designated Reserve fund 72,500 63,300 Other Unrestricted Funds 41,052 28,382

113,552 91,682

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THE WORTH FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the Year Ended 31 August 2019

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming

Resources Resources Expended

Movement In Funds

£ £ £ Unrestricted funds Doncaster 12,515 10,098 2,417 East Birmingham and North Solihull 30,954 19,023 11,571 Ellesmere Port 1,673 1,718 (45) Spark 34,778 42,219 (7,441) Huddersfield 6,131 5,868 263 Lincolnshire 8,192 6,836 1,356 Out4Good 375 175 200 Waltham Forest 13,265 6,752 6,513 National 85,882 103,232 (17,680)

193,075

195,921

(2,846)

Restricted funds Doncaster 39,773 31,843 7,930 East Birmingham and North Solihull 191,349 223,472 (32,123) Ellesmere Port 2,000 1,416 584 Spark 20,305 28,030 (7,725) Huddersfield 25,815 23,692 2,123 Lincolnshire - - - Out4Good 9,745 9,545 200 Waltham Forest 85,235 90,374 (4,029) National 151,348 153,741 (2,393)

525,570 562,113 (36,543)

TOTAL FUNDS 718,645 758,034 (39,389)

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17. RRESTRICTED FUNDS - Net movement in funds, included in the above are as follows:

Restricted Fund As at Incoming Resources Transfers Transfers As at 1.9.18 Resources Expended Branches Overheads 31.8.19 £ £ £ £ £ £ Aviva 1,735 - (1,735) - Big Local Trust (Firs & Bromford Local Partnership 19,661 72,519 (53,661) (29,573)

(1,200) 7,746

Big Local: Firs & Bromford Neighbours Together (events) 160 - (3,116) 1,573

(1,383) The Lottery Community Fund - (Awards for All - Spark 8,955 - (8,955)

-

Birmingham City Council (Cleaner, Greener) 7,128 7,500 (9,341)

5,287

Children in Need 3,832 7,270 (10,422) 680 City & Metropolitan Welfare Charity - 2,000 (2,000) - Clarion Housing Association – Community Ambassadors 3,374 2,500 (5,874)

-

Clarion Housing Association – Priory Court Youth Club 5,240 21,866 (14,662)

12,444

Counselling Services - 12,308 (11,399) 909 Dare 2 16,387 - (15,352) 1,035 Doncaster MBC - 39,773 (35,820) 3,953 Engage & Trinity Methodist Church Funds 1,416 - (1,416)

-

Enterprise Investment Fund 18,750 - (1,372) 17,378 Essex Community Foundation - Spark 1,575 - (1,575) - Essex Police and Crime Commissioner – Out4Good - 7,745 (7,745)

-

Essex Police and Crime Commissioner – Spark 4,467 7,997 (5,267)

7,197

The Heritage Lottery Fund - 11,600 (1,160) 10,440 Huddersfield Town Foundation (1,200) 2,442 (2,273) (1,031) Listen Threads Grants - 1,440 (808) 632 London Borough of Waltham Forest - 750 (1,425) (675) Loughton Town Council 600 - (600) - Lowerhouses Older People’s Meal 260 1,509 (1,167) 602 Mobile Youth Venue Fund 3,520 - - 3,520 St Bridget’s Trust 450 - - 450 StreetGames – Fit&Fed 1,200 - (1,200) - That Reading Thing (Ellesmere Port) 114 2,000 (200) 1,914 Thrive Together – Safe Spaces - 9,300 (9,221) 79 Together We Can (The Lottery Community Fund - Reaching Communities and Firs and Bromford Neighbours Together) 26,908 121,300 (163,054) 28,000

13,155 Urban Change Makers 200 120 - 320 Wendy’s Fund 3,109 21,864 (21,205) 3,768 Westhill 1,500 - - 1,500 Youth Investment Fund (EBNS) 8,952 49,470 (55,090) 3,332 Youth Investment Fund (WF) 17,132 52,850 (62,022) 7,960 Youth Investment Fund (National) 6,180 69,409 (74,135) 1,454 Youth Social Action Projects 2,319 38 (2,357) -

163,924

525,570

(585,629)

-

(1,200)

102,665

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17. RESTRICTED FUNDS - continued

The nature of the work carried out under certain of the various Restricted Funds above includes the following:

Aviva For the development of a weekly youth club session. Big Local Trust (Firs and Bromford (Big Local

Locally Trusted Organisation for Firs and Bromford Neighbours Together. Administering funds on behalf of the Big Local Trust

Partnership) Big Local: Firs and Bromford Neighbours Together (events)

Youth and community activities to support the Big Local summer programme.

The Lottery Community Fund - Awards for All - Spark

Mentoring services.

Birmingham Council (Cleaner, Greener)

A cabin and other resources for Community Forest Space.

Children in Need Sessions of Youth Work on the Priory Court Estate. City &Metropolitan Welfare Charity

Towards costs of Out4Good project

Clarion Housing Association

- - Community Ambassadors Social Action programme

Clarion Housing Association – Priory Court Youth Club

Youth Work & basketball sessions on Priory Court. Mostly from Clarion Housing but including small grant from London Borough of Waltham Forest

Counselling Services Donations from churches, Tesco Bags of Help Charity and Epping Forest Council

towards the costs of a Youth Counselling Service. Dare 2 Development of Residential activities for young people and Urban Change

Makers programme Doncaster MBC Essential Life Skills Programme - For the development of Mentoring programme

in Doncaster in schools Engage & Trinity Methodist Church Funds

Projects in partnership with Churches in Ellesmere Port.

Enterprise Investment Fund Investment in Worth Enterprises as required for new start up social enterprises. Essex Community Foundation - Spark

Salary of Youth Worker and general project costs in Lowerhouses, Huddersfield

Essex Police and Crime Commissioner – Out4Good

Towards costs of Out4Good project.

Essex Police and Crime Commissioner – Spark

For the development of a weekly youth club session

The Heritage Lottery Fund “Stories from Storey’s” project – young people recording stories from members of

the neighbourhood

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17. RESTRICTED FUNDS – continued

Huddersfield Town Foundation Food for School Holiday Kids Lunch Clubs (reimbursed in arrears) Listen Threads Grants Small grants for the development of the Listen Threads social enterprise London Borough of Waltham Forest

Art project – Young people creating installation for the E17 Art Trail

Loughton Town Council For the support for young people not in education or employment.

Lowerhouses Older People’s Meal

Funds raised from Meal Club

Mobile Youth Venue Fund Funds raised for Mobile Youth Venue bus expenses. St Bridget’s Trust For That Reading Thing mentoring in Ellesmere Port

StreetGames – Fit&Fed Food and activities for Summer Holiday programmes. That Reading Thing (Ellesmere Port)

For That Reading Thing mentoring in Ellesmere Port

Thrive Together – Safe Spaces Supporting churches, organisations and youth workers to provide safe

spaces for young people in Birmingham Together We Can (The Lottery Community Fund – Reaching Communities and Firs and Bromford Neighbours Together)

Partnership project with Open Door Community Foundation to offer support services and community building activities in Firs and Bromford Area. Jointly funded by Big Lottery Fund (Reaching Communities) and Firs and Bromford Neighbours Together.

Urban Change Makers Leadership development programme Wendy’s Fund Support from One17 Foundation, Firstfruits Foundation and Loose Change

Charity for Salary of Youth Worker and general project costs.

Westhill Delivery of Learning Days (workshops for youth workers) in partnership with Frontier Youth Trust.

Youth Investment Fund (EBNS)

Weekly Open-Access Youth sessions at 5 locations in the East Birmingham / North Solihull areas.

Youth Investment Fund Mobile Youth Venue Sessions in five areas. (WF) Youth Investment Fund (National)

Joint project with Waltham Forest and East Birmingham branches. This part of the money pays for Donor Development Manager and Social Enterprise Manager posts.

Youth Social Action Projects Activity and materials for Youth Social Action Projects

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For the Year Ended 31 August 2019 18. RELATED PARTY TRANSACTIONS

The charitable company has a wholly owned subsidiary, Worth Enterprises Limited, a company incorporated in the UK and which commenced operating in December 2011. Worth Enterprises has twin aims in providing worthwhile employment for young people and making a trading profit from its main trading activity, namely bicycle maintenance. During the year ended 31st August 2019 Worth Enterprises Limited made a loss of £4,641 (2018: Loss (£5,379). At 31st August 2019 Worth Enterprises Limited owed The Worth Foundation Limited £11,463 (2018: £7,250). Worth Unlimited made grants during the year amounting to £85,730 (2018: £66,147) to Open Door Community Foundation, a charity in which the Chief Executive of Worth Unlimited, Tim Evans is the Chair of Trustees. The Worth Foundation Limited has taken advantage of the exemption from preparing group accounts conferred by Para 19 (1a) of The Charities (Accounts and Reports) Regulations 2008, on the grounds that the results of the subsidiary are not material for the purposes of giving a true and fair view.

19. PENSION COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension charge amounted to £23,758 (2018: £19,143). The outstanding contributions due at the balance sheet date amounted to £ Nil (2018: £Nil).

report of the trustees and financial statements for … · 3 the worth foundation limited (a...

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