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@sLimJim
I think Lush has is spot on, I would go to his house to talk to his parents before you go anywhere near the police. I don't think there is any value in going down to 14.
Although what he is doing is bad and I can understand you wanna 'teach this guy a lesson', he looks like he cant be older than 16 and it would be a shame to give the lad a criminal record for the sake of what is, let's face it, really not that much money in the long run.
Think back to when you were that young, he is probably shitting it, probably does not want to tell his dad, probably does not have enough money to pay you back, probably thinks if he ignores it then it will all go away. Maybe I'm giving the guy a little too much credit and he is actually just a wormy little shit, who knows.
You have his address, go and talk to his parents, if they are not in then leave a letter. If that does not work, go to the police. I'm sure this can be sorted fairly swiftly.