ONE YOUNG WORLD LIMITED
Financial health, per its FY2024 accounts
The accounts state that the group reported a deficit on unrestricted reserves of £1,628,772 as of 31 December 2024. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern due to tight liquidity and reliance on future summit revenues. However, the independent auditors confirmed that the going concern basis of accounting remains appropriate based on management's assessment and planned mitigations.
What the accounts disclose
“The deficit on the group’s reserves is £1,628,772.” — page 40
“Note 1.2 also outlines the material uncertainty due to tight liquidity and reliance on Munich 2025 and Cape Town 2026 summit revenues, mitigated by external support, indicates a material uncertainty that might cast doubt on the charity’s ability to continue as a going concern.” — page 45
“Expenditure between One Young World Limited and One Young World UK Trading totalling £1,253,741 (2023 - £1,030,174), to carry out its charitable activities work.” — page 68
“The daughter of a director of One Young World UK Trading Limited is the Managing Director in Trading company and her remuneration excluding Employer NI, medical benefit, employer pension for the year was £197,833 (2023 –£159,000).” — page 68
“Expenditure between One Young World Limited and One Young World UK Trading totalling £1,253,741 (2023 - £1,030,174), to carry out its charitable activities work.” — page 68
“The daughter of a director of One Young World UK Trading Limited is the Managing Director in Trading company and her remuneration excluding Employer NI, medical benefit, employer pension for the year was £197,833 (2023 –£159,000).” — page 68
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- DAVID JONESchair
- Elio Leoni Sceti
- Jonathan Mitchell
- Lord Michael John Hastings
- Sarah Anderson
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £8.7m | £9.9m |
| 31/12/2023 | £8.5m | £8.4m |
| 31/12/2022 | £8.5m | £8.4m |
| 31/12/2021 | £5.1m | £6.1m |
| 30/06/2021 | £2.0m | £2.1m |
Common questions
Is ONE YOUNG WORLD LIMITED financially healthy?
The accounts state that the group reported a deficit on unrestricted reserves of £1,628,772 as of 31 December 2024. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern due to tight liquidity and reliance on future summit revenues. However, the independent auditors confirmed that the going concern basis of accounting remains appropriate based on management's assessment and planned mitigations. Its FY2024 accounts were audited by SCB (Accountants) Ltd.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 25/09/2023 | £57k | "One Young World | Heritage Fund Scholarship" |