FYA Annual Report 2018 - 2019

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38Fitzrovia Youth in ActionAnnual Report and Accounts 2018-2019have been allocated in proportion to expenditure incurred in undertaking an activity.i) Tangible fixed assetsIndividual fixed assets costing £250 or more are capitalised at cost and are depreciated over theirestimated useful economic lives on a basis as follows:j) DebtorsAsset Category Rate BasisLong Life Fixtures 18% Annually Reducing balanceFittings 5 Years Straight LineElectrical Equipment 5 Year Straight LineTrade and other debtors are recognised at the settlement amount due after any trade discountoffered. Prepayments are valued at the amount prepaid net of any trade discounts due.k) Cash at bank and in handCash at bank and cash in hand includes cash and amounts in deposit accounts.l) Creditors and provisionsCreditors and provisions are recognised where the charity has a present obligation resulting from apast event that will probably result in the transfer of funds to a third party and the amount due tosettle the obligation can be measured or estimated reliably. Creditors and provisions are normallyrecognised at their settlement amount after allowing for any trade discounts due.m) Financial instrumentsBasic financial instruments are initially recognised at transaction value and subsequentlymeasured at their settlement value.n) PensionsExisting employees of the charity who have chosen to be enrolled on the Workplace pension,which is funded by contributions from employee and employer.The NEST pension scheme is a defined contribution pension scheme operated by NationalEmployment Savings Trust.o) Changes to comparative disclosuresAdjustments have been to comparatives to reflect the change in accounting policy changesfor the depreciation of assets and income has been deferred from previous years, on therecommendation of the independent examiner.
39Fitzrovia Youth in ActionAnnual Report and Accounts 2018-2019Depreciation policy on assets with a short life and fixtures is now depreciated over 5 years. LongLife assets are depreciated in line with HMRC recognised capital allowancesPrevious year income has been deferred (£15,071) to reflect information which has been madeavailable after the reporting period, with income deferred to when contractual agreements havebeen meet.2. Financial Performance of the charity alone3. Legal status of the CharityThe charity is a company limited by guarantee. The Members of the company are the trusteeslisted on page 2.4. Income from donations and legacies2019 2018£ £_______________________Donations 35,987 6,206The income from donations was £35,987(2018: £6,206) of which all was unrestricted.The charity benefits greatly from the involvement and enthusiastic support of its many volunteers,details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP(FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
Page 1 and 2: FITZROVIA YOUTH IN ACTIONANNUAL REP
Page 3 and 4: REPORT OF THE TRUSTEES FOR THEYEAR
Page 5 and 6: CHAIR PERSON’S REPORT5Fitzrovia Y
Page 7 and 8: THE FYA MODEL7Fitzrovia Youth in Ac
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Page 13 and 14: THE DIFFERENCE THATOUR ENGAGEMENTAC
Page 17 and 18: THE DIFFERENCE THAT OUR YOUTHACTION
Page 21 and 22: IMPACT ON WIDER COMMUNITY- ADULT RE
Page 23 and 24: OUR COMMUNITY PARTNERSFOR 2018-1923
Page 25 and 26: OUR STAFF TEAM 2018-1925Fitzrovia Y
Page 27 and 28: FINANCIAL REVIEW27Fitzrovia Youth i
Page 29 and 30: STRUCTURE, GOVERNANCEAND MANAGEMENT
Page 31 and 32: ADMINISTRATIVE INFORMATION31Fitzrov
Page 33 and 34: FINANCIAL STATEMENTS33Fitzrovia You
Page 35 and 36: FINANCIAL STATEMENTS35Fitzrovia You
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FYA Annual Report 2018 - 2019

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