FYA Annual Report 2018 - 2019

FINANCIAL REVIEW
27
Fitzrovia Youth in Action
Annual Report and Accounts 2018-2019
FYA has had a successful year with group income of £701K, £127K higher than in 2017-18. This has
occurred for the following reasons:
• Last year, FYA secured funding for projects over several years to go towards our youth led
volunteering (specifically reaching communities’ program and Peer Support and mentoring).
Following on, in the current year we have had even further success with the Greater London
Authority who have granted the charity funding towards the Peer Mentoring Program
allowing us to increase scope even further over several years. Overall grant funding has
increased by over £91K vs. previous year.
• Through paid pitch bookings and Lunchtime Football Leagues, our trading subsidiary,
Fitzrovia Youth in Action Activities Ltd, was able to generate a trading income of £113K over
the year 2018 – 2019 (£107K 2017 – 2018) towards the running costs of the charity. Interest in
hiring the Warren sports area is strong and growing with future bookings already in place.
• Thanks to the Big Give campaign we have seen a significant increase in donations to the
charity by £30k, we have had tremendous support by local community and privately-owned
business in the local area. We aim to replicate this in the following years to come.
Expenditure in the year has increased by £124K to £692K. This has occurred for the following
reasons:
• Expected increase in costs related to the scope of youth engagement and youth led
volunteering, particularly Peer Mentoring & Education programs, to deliver against the
additional grant funding awarded.
• Overall cost of raising funds has increased by £10k, enabling the increased grant funding.
The Charity has therefore ended the year with a surplus of £9,146.
The current year end cash flow shows an increase in funds available of £167K, as we are working
more closely with funding partners to ensure payments are made before or closer to the start
dates of projects.
The charities reserves are healthy (see Reserves Policy section).