Annual Report 2015/2016
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Charity Reference and Administration Details
Young Gamblers Education Trust
YGAM, which is a Registered Trademark with the UK Intellectual Property Office, number UK00003114184
Board of Trustees:
Dan Waugh (Chairman), George Parnavelas, Anna Small, Dan Rough
Director of Education:
Graham White OBE, Steve Donoughue, Andrew Poole, Grant Taylor, Anne & Keith Evans
Charity Registration Number:
Company Registration Number:
Young Gamblers Education Trust, 71 – 75 Shelton Street, London, WC2H 9JQ
HSBC Bank Plc, Business Banking Centre, 39 Tottenham Court Road, London, W1T 2AR
Provided pro-bono by Thomson Reuters Foundation.
Stephen Hill Mid Kent Ltd.
Ecclesiastical Insurance Plc
Fundraising Standard Board, Full member:
ASDAN Customised Accreditation Centre, 35981
Educational resources assured by PSHE Association, June 2016
Report of the Trustees
The Young Gamblers Education Trust (trading as YGAM and exempt from Ltd suffix), is a Charitable Company Limited by Guarantee (CCLG) without share capital. YGAM was incorporated on 28 August 2014 and became a UK-registered charity on 26 June 2015. The company was established under a Memorandum of Association, which sets out the objects, the powers of the charitable company and its governance arrangements. These were incorporated on 28 August 2015 and amended by special resolution with Companies House on 24 June 2015, as part of the process to become a registered charity. In the event of liquidation, members are required to contribute an amount not exceeding £1.00.
Recruitment and Appointment of Board of Trustees
YGAM aims to have no fewer than three Trustees at any one time, up to a maximum of ten. As soon as a serving Trustee declares their intention to resign, the Trustees will endeavour to recruit a new Trustee. From time-to-time, the Board reviews the skills of existing Trustees and identifies skill gaps. Trustees are recruited by means of personal approach, advertisement in the Trustees section of charityjob.co.uk, through the Third sector in the national press, and through organisations such as Peridot Partners who support with pro bono governance advice.
Trustee Induction and Training
After the initial approach, the prospective Trustee will have a meeting with the Chairman, and then with another trustee, followed by a meeting with the Chief Executive. These meetings will include a full briefing on the legal and financial responsibilities of Trustees, and a thorough explanation of the work of the Charity.
The prospective Trustee will receive:
- The Memorandum and Articles of Association
- The latest published Annual Accounts and Trustees' Report
- A current copy of the management accounts, which includes that year's budget
- Action log of the last three Board meetings
- The strategic plan
A copy of the latest relevant Charity Commission guidance for Trustees (Essential Trustees updated 2015).
After attending a Board meeting as an observer, a decision will be made, by the Trustees, in consultation with the prospective Trustee and the Chief Executive as to their suitability. The formal vote to elect a new Trustee will take place at the next appropriate Board meeting and will be ratified at the next Annual General Meeting.
The Board of Trustees aim to meet up to six times a year (every two months) and to contribute to the strategic direction and policy of the charity. A Chairman will lead the Board of Trustees, and members will give their time and advice on a voluntary basis.
Day-to-day responsibility is delegated to the Chief Executive, whose responsibilities are to ensure the charity delivers the services specified: financial management, legal compliance, human resources, fundraising, marketing, public relations and risk management.
The Director of Education reports directly to the Chief Executive and has responsibility for the writing & quality-assurance of educational material and for assistance with delivery. The Chief Executive and Director of Education are both currently self-employed and invoice the charity for work undertaken.
It is anticipated the Chief Executive will become an employee of the charity at some point in 2016. Until that time, both the Chief Executive and Director of Education are responsible for their tax affairs and receive no employee benefits (such as holiday, sick pay or pension contribution).
The charity's funds are largely due to be spent in the short-term, so the Trustees consider that long-term investment is inappropriate. The best option for funds not immediately required, is to hold them in a deposit account or shortterm, risk-free bond. YGAM currently holds no investments.
YGAM aspires to a Reserves Policy that would have unrestricted funding (i.e. income not committed) or income invested in tangible fixed assets held by the Charity in reserve to cover six months of expenditure in the event of a significant decrease in funding.
Currently, the charity does not hold any reserves. This is not uncommon for start-up enterprises. Our accounts show a reserve balance of £49,719. However, this is restricted for delivery in 2016/17. The Charity will aim to achieve some level of reserves in 2016/17.
The Trustees have conducted a review of the major risks to which the charity is exposed and, where appropriate, systems or procedures have been established to mitigate those risks. Risks are reviewed and updated annually via the charity risk register.
As a start-up charity, the most significant risk factor would be the organisation's inability to generate income. Additionaly, the charity does not hold any financial reserves to fall back on. Therefore, a sustained work plan of income generation is fundamental.
YGAM has a desire to secure its income in three ways;
- via gambling industry donations,
- through sales of its workshops and
- through grants from Charitable Trusts & Foundations.
The Trustees have considered the potential reputational implications of receiving income from the gambling industry (either directly or via the Responsible Gambling Trust) and are satisfied that there are positive Corporate Social Responsibility (CSR) gains to be made for both parties.
Internal financial control risks are minimised by the implementation of procedures for authorisation of all transactions and new areas of work.
YGAM has the appropriate insurance cover in place, provided by Ecclesiastical Insurance Ltd, which includes employers' liability insurance for a minimum of £5 million cover.
Consolidated Statement Of Financial Activities For Year Ending 30th June 2015
Where our funds came from in 2015/16:
- Corporate Donations
- Local Authority
- Individual Donations
The accounts of the Young Gamblers Education Trust (YGAM) have been independently examined and filed with both the UK Charity Commission and Companies House. A copy of the examination certificate is publicly available with no material problems being listed. YGAM is seeking income from different sources to financially sustain its work. It is envisaged this mix will become more diverse as the charity continues to deliver its social purpose over the coming years. The charity intends to formulate a commercial trading subsidiary in 2016/17. The sole shareholder of this trading subsidiary will be the Young Gamblers Education Trust itself, thus if profits are achieved, these will be gifted to the charity to further its social purpose.
Year-end charity balance sheet
|Creditors - Amounts falling due within one year||(961)||(2,410)|
|Total Assets Less Current Liabilities||49,719||(262)|
Detailed Income and Expenditure Sheet
|01.09.2015 to 30.06.2016||28.08.2014 to 31.08.2015|
|Donations and grants received||116,044||14,824|
|Cost of sales|
|Training and Workshops||14,550|
|Rates and water||341|
|Light, heat and power||783|
|Telephone and internet||1,020||1,158|
|Post and stationery||2,223||275|
|Advertising and marketing||181|
|Staff and Volunteer Travel||6,739||2,980|
|Educational Resource Design||6,558|
|Staff and Volunteer Subsistence||617|
|Depreciation of tangible fixed assets|
|Net Surplus /(Deficit)||49,981||(262)|