2021-09-30-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

GFS England and Wales Annual Report and Financial Statements

1 October 2020 - 30 September 2021

ceo's introduction

CEO's introduction	3
Chair's welcome	4
Trustees' report	6
Independent auditor's report to
the members	27
Financial statements
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30 September 2021	31
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Balance sheet	33
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Principal accounting policies	35
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�� that:

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The belief that men are smarter than women starts in girls as young as age 6.
• ��

GFS is responding as a network of groups to do something to address how girls feel and support them �� important to them or try new things.

�� towards a balanced society.

��

�� coming months.

The trustees of Girls Friendly Society in England and Wales (GFS) present the Trustees’ Report and Financial Statements for the year ended 30 September 2021.

This report has been prepared in accordance with Part VI of the Charities Act 2011 and constitutes a directors’ report for the purposes of company legislation.

�� statements and comply with the charitable company’s memorandum and articles of association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

�� total return approach, which is both more sustainable and ethical. In the immediate term, this reduced �� funds.

��

�� operating costs, which underlines the importance for us to be successful in our fundraising.

It is a critical time for girls right now and GFS needs to raise awareness and funding to be able �� with you if you can help us to make that a reality.

chair's welcome

Girls Friendly Society (GFS) �� membership to ensure the �� safeguarding of safe and sound almost 150 years and we all �� decision making. �� and recognize the incredible This has been successful with those who went before us �� to establish such a forward �� group called the Townsend �� and we stayed connected. �� Therefore, this report will not This year was one of assessment �� only celebrate our successes �� against the strategic plan and members. We then looked at fact that this team knows we considered how our growth our board membership with a �� headline ambition of addressing �� areas of England and Wales �� not remained as forward that research said needed (EDI) with an intersectional �� GFS the most. We stood back approach. The new trustees would like to be. This past �� and committee members �� numbered twenty in total and we do and how we do it to of a ‘Girl Shaped’ strategy. we dramatically changed the �� stand alongside our founders to be built with and for the �� girls. We recognised that this thinking, assurance and �� was a priority if we were going �� to ensure our impact was �� organisation determined to �� the organisation has a much honour our past and ensure Growth and reshaping needed �� a team that could support the relationships and an appetite purpose in a way that our considerable change that this and approach to address issues founder Mary Townsend inspired. Our leadership team �� rose to the challenge to make the charity. This was the year that COVID �� hit hard and we are proud of recruitment continued at a to realise the plan but we know the work that the organisation pace during COVID bringing that sustainability is a priority did to power through this �� and we welcome challenge and bring about fundamental passionate about supporting �� change to address our �� of who they are. �� of CULTURE whilst remaining �� focussed on preparing for the �� and cannot be accessed. We �� introduced rigour to our will be unable to continue to �� income stream in fundraising. �� we do. We also worked together year and launched it in the They worked alongside us �� most challenging of years for �� looked like for GFS which fundraising! Despite this we and mission, a new set of �� saw green shoots of success as �� strategic plan. We made

�� to realise the plan but we know that sustainability is a priority and we welcome challenge �� and cannot be accessed. We will be unable to continue to �� income stream in fundraising. �� year and launched it in the most challenging of years for fundraising! Despite this we saw green shoots of success as ��

�� used this time to work through how fundraising could and did work for GFS and we are ready to face the new ��

��

Trustees' report 30 September 2021

our vision, mission and values

Our vision is of a world where girls and young women are free to be themselves and feel proud of who they are.

Our mission is to support and inspire girls and young women. We will create spaces where they feel safe and valued, so that they can build strong foundations that will prepare them for life’s challenges.

In January 2021, GFS worked ��

Through workshops, consultation �� appealing to funders, clearer to parents, and further its aims in ��

It was important for us, under parents, and further its aims in �� our culture, to ensure that our �� �� something that could unite, �� We wanted them to be a true Charity Commission’s guidance on �� representation of the passion �� an incredible contribution to this year and the organisational plans for future periods. organisation, and goals that we all �� girls and young women.

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to be:
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Girl-focused
1 ��
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Brave
2 ��
Feminist
3 GFS is a community, where girls and women support each other and
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Inclusive
4 ��
are welcome at GFS. We will not let personal circumstances be a
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Ambitious
5 ��
women we interact with and for a fair future.
Fun
6 ��
the importance of approaching our mission with a sense of fun.
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why gfs matters

�� binary people. It has a disproportionately worse impact on those with intersecting marginalised identities, and it creates ��

young women don’t start out with low �� deterred by setbacks.

�� with image and poor mental health, such ��

�� 13. So can we stop girls going from happy, healthy children, to struggling, insecure young people? How can we build strong �� messages, to help girls maintain their sense of self beyond early adolescence?

And ultimately, that results in fewer �� that they can be successful. Deference to their male counterparts. And in turn, worse career prospects, shouldering a disproportionate amount of the emotional �� decision making.

�� through early access to four key things:

• Single gender spaces

�� seeds of the grim picture we see for many women today, particularly in areas of need, were sown in childhood.

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• Women role models

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But, our research shows that girls and

what does success look like?

�� foundations are, that will see them through the challenges they will face.

�� result of attending GFS.

�� point, but all of our sessions aim to nurture these attributes in the girls who attend:

I can speak up about things that matter to me
I am proud of who I am
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I can try new or unfamiliar things
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�� girls.

�� foster them.

what have we done to achieve our aims?

Direct delivery

At the start of 2020, we outlined three key strategic areas in which GFS must �� of our work and bring us closer to our charitable aims. These were growth, sustainability and culture.

International Women's Day

Delivered the safe return of groups

We had a fantastic time, encouraging our girls, �� in the UN’s Choose to Challenge campaign. In �� Challenge commitments.

We were delighted that groups were able to begin �� year, a little more than 12 months after they �� wait to be reunited.

GFS online

�� corporate partners to take part, both in order �� establishing corporate relationships, we are strengthening our position to reach more girls.

Facilitating this was a huge task for our Opera� �� groups, and supporting them with training, PPE and socially distanced session plans.

�� periods of lockdown. To ensure no GFS girl went unsupported during this time, we ran online sessions. The sessions not only �� sense of stability amidst so much other disruption. “This group is so wonderful and it's so appreciated how they personally try to reach out to each girl and their family to keep them up to date with big changes. It's ��

133 girls attended GFS online sessions – our �� touch with girls and supporting them through the pandemic. Sessions were mostly attended ��

Big Dreamers' Club

�� One outcome was the creation of the GFS Big �� allowed us to reach girls without the restriction of �� courses – one on inspiring futures and one on �� uptake. The sessions were really popular and �� comes with less risk. One parent shared that her daughter:

174 girls returned to groups post pandemic – In September 2021, 174 girls attended �� estimated pre pandemic numbers, due to a number of factors, including girls who had �� recruiting new girls for online sessions and delayed reopening of some groups.

These sessions were run by our amazingly �� content, we made sessions easier for �� period. Greater detail on our COVID �� COVID report.

�� number of groups. Some will return in �� well attended groups saw the pandemic as a natural time to bring their groups to a close.

�� is currently grilling me on famous leaders she has Googled and is writing a poem about great leaders! I think she may be inspired!"

International Day of the Girl

�� other organisations with a similar mission, we aim to raise awareness of GFS, reach �� the sector.

Improved processes and strategies

We asked our parents, girls and volunteers more

�� seek to understand if the work we are doing is �� more.

��

�� is our starting point.

Working to improve our monitoring and evaluation

We know that GFS has more work to do in monitoring the impact of the work we do. While �� week and in the responses we get from parents, �� in the way we are measuring it.

�� better understanding of what is happening at �� girls are attending their groups, which of our GFS

A new approach to opening groups

�� more groups and reaching more girls is key to our ‘growth’ priority, but it has been essential to think strategically to ensure that groups are also sustainable and impactful.

We decided together that future GFS groups will be opened in areas of need, as outlined by Plan UK’s State of Girls’ Rights report. This outlines intersecting factors that come together to make �� be a girl. By opening our groups in these areas, we can be sure that we are reaching the girls who need us most.

In addition, groups will be opened in strategic clusters around these areas, allowing us to build our reputation and focus our resources. We

77% of parents said they felt their child was more able to try new or unfamiliar things as a result of attending GFS.
87% of girls said they felt more able to speak ��
�� to make friends with all kinds of people as a result of attending GFS.
81% of girls said GFS helps them free like they �� the pandemic.

��

�� outputs, rather than outcomes or impacts. The creation of the GFS Girl as a tool for tracking �� factor, and in September 2021, the Board signed �� coming months.

��

�� and sustainability of groups was the introduction of employed Group Coordinators. This role aims �� who best understand the communities they work in.

�� group coordinators based on pilots in the North ��

volunteers

Volunteers during COVID

��

�� we heard that this came from the fact that so many were working from home or in a hybrid �� so many felt so strongly about the many stories in �� against women and wanting to empower girls at an early age.

This was particularly important in helping GFS prepare for the future. GFS has been so fortunate �� presented new online challenges and return to ��

�� support girls and young women. We also saw the �� the work we did, either by creating programme

Training

�� in safeguarding referrals because they felt more �� to work in communities where the need and ��

�� welcome session with the CEO and Volunteer Recruitment and Training Coordinator. This �� and for them to feel part of a team with shared purpose. This is then followed by a further three �� the most of the role.

�� and guidance around challenges they might face, and as well as the opportunity to talk together as �� at GFS. We will continue to build on this to assure ��

Our safeguarding annual refresher has also been �� to update their knowledge, share best practice �� circumstances. This has generated a noticeable ��

��

�� review

Other funds

In addition to the endowment funds, at 30 September 2021, GFS had restricted funds �� most of which are restricted to being spent in certain geographic areas and, in particular, ��

Results for the year

�� £53,455).

�� Included in the prior year income is the gain from the sale of freehold land and buildings amounting to �� is a need for it to be supplemented by substantial other sources of income in the future to ensure the ��

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Free reserves and reserves policy

�� going issue.

��

�� restricted endowment to designated funds. These funds are now designated to support our growth �� endowment.

��

�� designated funds which at 30 September �� in part, to generate income and funds from the release of £3,500,000 from the endowment fund which has been released to designate into the organisational growth and sustainability.

�� matches the liability on the balance sheet in �� the charity contributes to on behalf of certain of its ��

�� unrestricted funds.

Investment policy

�� funds, the capital of which cannot be spent.

�� portfolios.

��

�� possible yield from the portfolio and long term capital growth whilst maintaining the underlying risk at ��

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fundraising

�� in which it communicates with supporters. It takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters.

Income from charitable activities

�� aligned to professional and ethical practices. We are committed to this approach and are therefore registered with the Fundraising Regulator and ��

Our fundraising practice and performance is regularly monitored against our own fundraising policy and ethical practices which include a �� pressurised fundraising practice.

£25,486

2018/19

We do not work with commercial fundraising organisations and do not carry out face to face door to door or telephone and digital fundraising. We do not sell or buy personal data and are proud to say �� the past year.

£27,874

Our fundraising strategy was launched in February 2020, when we were still unaware of the impending pandemic and its scale. Nonetheless, our commitment to increasing fundraised income ��

2019/20

��

£80,357

2020/21

�� the pandemic has had a serious impact on our �� become more crowded, businesses cut their bottom �� core cost commitments remained steady.

Fundraising growth

�� December 2020. This allowed us to secure funding from local authorities, supermarket schemes and a number of small trusts. We also secured funding for a number of intern posts which will help increase the capacity of the team as we grow.

governance arrangements

Girls Friendly Society in England and Wales is a company limited by guarantee (Company Registration No. 3172713) and is registered under the Charities Act 2011 (Charity Registration No. 1054310).

��

Trustees are elected by members of GFS in accordance with procedures laid out in the ��

�� this responsibility.

The trustees constitute directors of the charity for the purposes of the Companies Act ��

�� with the Chair at least once a month and reports to the trustees on a regular basis. The ��

We then started to grow our income through partnerships with commercial organisations, including ��

Trustee responsibilities

Committees

��

��
• ��
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��

�� they are:

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Fundraising and Growth
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• People and Operations.

�� summarising the discussions and making proposals for the Board to consider.

The trustees (who are also directors of GFS for the purposes of company law) are responsible for preparing �� accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

�� company for that period. Under company law the trustees �� period.

select suitable accounting policies and then apply ��
�� and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United ��
��
state whether applicable United Kingdom Accounting ��
�� basis unless it is inappropriate to presume that the charitable company will continue in operation.

Membership

�� January 2021 and a number of roadshows, the Board agreed that membership must be restricted �� much support and engagement as they had suggested they would like.

�� included their feedback from roadshows in the design. We listened to members who attended �� encouraged them to think about a much smaller but more regular donation such as £5 per month.

�� legal team.

�� Code we measure our practice up against the benchmark of a large charity to identify areas of �� communication, EDI programme to name a few.

�� accounting records that disclose with reasonable accuracy �� statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable �� irregularities.

��

�� audit information of which the charitable company’s ��
the trustee has taken all the steps needed as a trustee �� audit information and to establish that the charitable company’s auditor is aware of that information.

�� Companies Act 2006. The trustees are responsible for �� included on the charitable company’s website. Legislation �� 21

risk

��

��
��
��
��

�� mitigating plans of action. The risk rating ensures risks are prioritised and colour coded so that ��

�� Likeli�
Operational Risk Plans to mitigate GFS lead ity hood Rating ��
�� All trustees, Leadership Team 3 5 15 fewer girls Need to better understand impact – Programme and Impact Manager recruited and to start Jan 2022
Some groups not returning post COVID and �� the short term because fewer girls = less impact
�� All trustees, Chief but this has been further delayed because ��
�� of COVID �� 3 5 15 �� Committee, FR and resources Growth subcommittee, Leadership Team
Regular monitoring of numbers of ��
��
�� All trustees, Chief ��
Continuing to run �� Team, Finance and 5 3 15 �� Strategy Committee, FR is to protect the capital and see fundraised & Growth Committee ��

�� �� channels �� Reaction follows careful analysis of risk and impact �� Head of FR & Comms Leadership Team Board FR & Growth commit� tee	2 5	10
Lack of incident report� ing Increased training around safeguarding for �� �� �� �� �� �� �� ership Team	5 2	10
�� implement successful FR strategy �� �� �� T&F in 2021 All trustees, Chief �� committee, Leadership Team	3 3	�
�� �� There will always be a risk in the markets �� �� �� �� Regular monitoring �� �� capital All trustees, Chief �� �� Head of Finance and ��	3 3	�
�� GDPR �� annually GDPR Compliance Forms for groups to sign Regular GDPR compliance monitoring �� teers �� practice All trustees, Chief ��	3 3	�
Major safeguarding incident Robust safeguarding policy e.g. DBS checks, �� �� �� Annual updates for all �� All trustees, DSL, Safe� guarding Trustees	4 1	4
EDI Vital that the whole team understand the GFS position on EDI �� and monitors plan EDI annual day of learning �� �� �� �� Leadership Team EDI Board lead	2 2	4

leadership and key personnel

The trustees consider that they, together with the Leadership team, comprise the key management of the charity in charge of directing, controlling, running and operating the charity on a day to day basis. �� Personnel.

The trustees work together to direct strategy but delegate the day to day running of the organisation ��

��
��
Head of Fundraising and Communications
Head of People
Head of Operations (N)
Head of Operations (S)

Each member of the team reports into a subcommittee and attends at least one board meeting a year. ��

�� alongside any changes.

�� and shared with the Board. Any new roles are always benchmarked.

�� great success.

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GFS Chester-le-
�� GFS Smethwick Street GFS Leytonstone
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Recruitment and training

�� recruitment and has a policy in place �� and unpaid role is assessed against DBS criterion to determine if it is eligible for a criminal records check. Applications are also ��

All recruitment and selection across GFS �� and our EDI taskforce has paid particular ��

�� best practice EDI considerations within the �� to reduce the gender and race pay gaps. �� salary information or unrelated educational ��

�� Wage, including a number of funded Kickstart internship roles, which GFS top up. Our shortlists are made using anonymized �� knowledge.

�� tailored to their role and the needs of the organisation. The induction process includes mandatory training and also enables ��

�� setting out the dates for support and �� appraisal dates are scheduled within which �� place.

�� the following mandatory training within their probation period.

Safeguarding Adults
Child Protection
��
Personal Safety
Health and Safety

�� training and guidance that supports use ��

��
First Aider
��
Fire Warden

�� opportunity to participate in our annual Day of Learning, where we dedicate a full day to broadening our organisational knowledge about intersecting identities that �� getting to better understand the additional barriers they face.

future plans

�� we are only now starting to see that impact. �� resilience and mental health. We are committed to addressing this and being here ��

We are in a strong position to return to online �� lockdowns and other restrictions. Sessions �� safeguarding function. Organisationally, we �� new way of working.

In addition to the online sessions, we saw that �� for parents to do with their girls at home �� should restrictions continue. The appetite for shorter online courses was also demonstrated by the popularity of The GFS Big Dreamers’ �� on a regular basis to girls all around the UK.

The urgency of need for GFS, not only remained during the pandemic, but was �� limited access to school and reduced social �� girls, the most. Our plans for growth seek �� of supporters who are keen to do the same ��

�� prepared in accordance with �� small companies within FRS 102 and part 15 of the Companies Act 2006.

Leanne Massey, Trustee Approved on 2 April 2022

independent auditor’s report to the members

Opinion

�� ‘charitable company’) for the year ended 30 September 2021 which comprise the statement �� been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

��

��

•

��

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the �� basis for our opinion.

Conclusions relating to going concern

��

Our responsibilities and the responsibilities of the trustees with respect to going concern are ��

Other information

�� assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other ��

in the course of the audit or otherwise appears to be materially misstated. If we identify such ��

��

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

��
• the trustees’ report, which is also the directors’ report for the purposes of company law and includes the strategic report, has been prepared in accordance with applicable legal ��

Matters on which we are required to report by exception

�� our opinion:

��
��
• �� • �� • ��

Responsibilities of trustees

�� directors of the charitable company for the purposes of company law) are responsible for the �� and for such internal control as the trustees determine is necessary to enable the preparation of ��

�� company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend �� do so.

��

�� a whole are free from material misstatement, whether due to fraud or error, and to issue an �� but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect ��

�� are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of ��

the engagement partner ensured that the
�� competence, capabilities and skills to identify or ��

• we obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most �� are those that relate to the reporting framework (Statement of Recommended Practice Accounting and Reporting by Charities preparing this accounts in accordance with the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)), the Charities Act 2011, and the Companies Act 2006 and other regulations including safeguarding, data protection, fundraising and employment law.

�� statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

�� and
considering the internal controls in place to mitigate �� regulations.
To address the risk of fraud through management bias ��
performed analytical procedures to identify any ��
�� and
�� made in determining the accounting estimates were ��

�� compliance with laws and regulations, we designed procedures which included, but were not limited to:

��
�� litigation and claims.

There are inherent limitations in our audit procedures �� compliance. Auditing standards also limit the audit �� management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they �� the Financial Reporting Council’s website at www.frc.org. �� our auditor’s report.

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Financial statement

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members �� responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions ��

��

Catherine Biscoe (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

�� expenditure account) Year to 30 September 2021

��

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Endow� 2020
Notes General Designat� Restricted ment 2021 Total Total
funds £ ed funds £ funds £ funds £
funds £ funds £
Income from:
Donations and legacies 1 13,475 � 66,882 � 80,357 27,874
�� 2 124,600 � 63,204 � 187,804 ��
��
�� - 131,086
asset
��
�� - ��
��
�� 5,889 7,354
income
Total income 143,964 - 130,086 - 274,050 ��
Expenditure on:
Raising funds 3 ��
�� 4 474,166 �� 146,115 � 648,776 ��
and school based programmes
Total expenditure 505,115 109,425 146,115 - 760,655 ��
Net expenditure before net 7 (361,151) �� (486,605) (87,853)
investment gains/(losses)
Net gains/(losses) on � �� 133,506 328,611 906,906 ��
investments
Net (expenditure)/income (361,151) 335,364 117,477 328,611 420,301 (1,028,084)
Statement of recognised gains
and losses
�� 24 � � � � � �
pension scheme
Net movement in funds before
(361,151) 335,364 117,477 328,611 420,301 (1,028,084)
transfers
Transfers between funds 20 270,000 (270,000) � � � �
Net movement in funds �� 65,364 117,477 328,611 420,301 (1,028,084)
Reconciliation of funds:
Fund balances brought forward at
�� 3,886,167 2,274,044 �� 9,296,023 10,324,107
1 October 2020
Fund balances carried forward at
158,071 �� 3,216,201 9,716,324 ��
30 September 2021
31
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��

�� Year to 30 September 2020

Balance sheet 30 September 2021

�� Wales Company Registration No. 3172713 (England and Wales) and signed on its behalf by:

Leanne Massey, Trustee Approved on 2 April 2022

�� Year to 30 September 2021

�� September 2021:

A: Reconciliation of net movement in funds to net cash used in operating activities

B: Analysis of cash and cash equivalents

��

Principal accounting policies

��

Basis of preparation

��

�� these accounts.

�� Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

��

Critical accounting estimates and areas of judgement

��

�� • ��
��
��
�� below).

Assessment of going concern

��

��

�� ready to adapt our practice in the best interests of the charity and the girls and young women we support. ��

Income recognition

Income is recognised in the period in which the charity has entitlement to receipt, the amount can be ��

��

��

charity is entitled to the funds, the income is deferred and not recognised until either those conditions are ��

��

��
Freehold land and buildings

��

�� conditions attached to the legacy are within the control of the charity.

�� Depreciation is charged at the following annual rate based on net cost: Freehold buildings 2% No depreciation is charged on freehold land.
��

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been �� in part, is only considered probable when the amount can be measured reliably and the charity has been

�� the legacy is treated as a contingent asset and disclosed if material.

��

�� is recognised when the charity has entitlement to the funds under agreements or other the contractual arrangements for the payment of each grant.

Expenditure recognition

�� in settlement and the amount of the obligation can be measured reliably.

��

��
��
��
��
��
��
��
��

Fixed asset investments

�� market price.

��

Debtors

�� where such discounting is material.

Cash at bank and in hand

�� support costs.
��
��
��
��

��

Creditors and provisions

�� payment where such discounting is material.

��

Fund structure

�� necessary to support them.

�� which may be applied at the discretion of the trustees.

��

Allocation of costs

��

�� and costs in respect to its compliance with regulation and good practice.

��

�� charity contributes on behalf of certain of its employees.

��

�� to donor imposed conditions.
�� therefrom can be used for general purposes and is credited directly to general funds.

Leased assets

��

Pension contributions

�� associated employers. It is therefore not possible to identify the underlying share of the charity’s assets and ��

��

�� of salary into the scheme is a minimum rate of 2.5%. The charity pays employer’s contributions at a rate of 7.5%.

Financial instruments

�� liabilities of the charity and their measurement basis are as follows:
��

��

��

��

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2
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Support costs are those costs which enable the charitable work of GFS. They include
5 ��

Support costs included within raising funds and community and school based programmes are as follows:

��

6 7 �� 8 ��

9

��

The key management personnel of the charity in charge of directing and controlling, �� and employer's pension contributions) of key management personnel for the year was £315,828 (2020 – £220,156).

Trustees’ expenses and related party transactions

��

�� generated from a balanced approach are a combination of income and the potential for �� with the portfolio aim.

��

��

10

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Taxation

Girls Friendly Society in England and Wales is a registered charity and therefore is not ��

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13
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During the prior year the charity disposed of its freehold land and buildings resulting a gain on disposal of £131,086.

16 The capital funds of the charity include permanently endowed monies, which must be ��

and permanent endowment but only on such terms for the replacement of the ��

Francis Street Fund

The Francis Street Fund was established during the year ended 30 September 2004 when the Francis Street hostel, which was managed by the charity, was sold by the freeholder. Under the terms of the disposal, the net proceeds were donated to the charity to be held as a permanent endowment.

The income funds of the charity include restricted trust funds comprising the following ��

Transfers

�� endowment funds and to transfer that sum to unrestricted funds.

The two endowment funds are as follows:

Endowment fund

The endowment fund was established under a Charity Commission Scheme dated 31 July 2002. The Scheme replaces former trusts, a Scheme of the Commissioners ��

�� the charity and of managing its assets and thereafter the remaining income must ��
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The use of the trust funds held at 30 September 2021 is restricted to the following: ��

20

The income funds of the charity include restricted Diocesan funds comprising the following ��

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22 �� cancellable operating leases on land and buildings as follows:

23 Liability of members

�� 24 Pension costs and provisions

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�� came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting �� in the UK.

�� is potentially liable for other participating employers' obligations if those employers are �� annuity purchase basis on withdrawal from the scheme.

�� eliminate this funding shortfall, the Trustee of the scheme has asked the participating employers to pay additional contributions to the scheme as follows:

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�� increasing by 3% each on 1 April)

Unless a concession has been agreed with the Trustee, the term to 31 January 2025 applies.

�� £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

��

�� and increasing by 3% each on 1 April)
From 1 April 2016 to 30 September 2028: £54,560 per annum (payable monthly and increasing by 3% each on 1 April)

�� their estimated share of the Series 1 and Series 2 scheme liabilities.

�� arrangement the company recognises a liability for this obligation. The amount recognised ��

�� contributions.

Reference and administrative details of the charity, its trustees and advisers

�� Solicitors Unit 12, Angel Gate Bates Wells & Braithwaite London LLP 326 City Road �� London London EC1V 2PT EC4M 6YH

Trustees I Vidal (Chair) (resigned March 2021) L Massey (Chair) (appointed March 2021) M Young (Treasurer) M Hughes (Vice Chair) C Osborne

Company registration number 3172713 (England and Wales)

Custodians

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1 London Wall Place London

Charity registration number 1054310

S Rose Smith (appointed 30 July 2021) P Sangera (appointed 30 July 2021) K Bowden (appointed 30 July 2021) B Thomas (appointed 30 July 2021) T Banda (appointed 30 July 2021) A Young (appointed 30 July 2021) �� C Charlesworth (Wales President) (resigned 5 December 2020)

EC2Y 5AU

Website

www.girlsfriendlysociety.org.uk

Principal investment managers

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Facebook

1 London Wall Place London

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EC2Y 5AU

Twitter

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E Dickinson (resigned June 2021) M Winks (England President) (resigned June 2021)

8 Finsbury Circus Finsbury London

Instagram

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Chief Executive & Leadership Team L Sercombe

EC2M 7AZ

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E Stone (Head of Fundraising & Communications) B Huie (Head of People)

Principal bankers Barclays Bank plc

Auditor Buzzacott LLP

J Moonie Dalton (Head of Operations S) (appointed February 2021)

1 Churchill Place Buzzacott LLP London 130 Wood Street E14 5HP London

K Ward (Head of Operations N) (appointed February 2021)

I Ondhia (Head of Finance & Support ��

EC2V 6DL

N Shoults (Head of Finance & Support ��

Girls Friendly Society in England and Wales Annual Report and Financial Statements 30 September 2021 Company Limited by Guarantee Registration Number 3172713 (England and Wales) Charity Registration Number 1054310

Unit 12, Angel Gate, London Phone: 020 7837 9669 E-mail: info@girlsfriendlysociety.org.uk

ceo's introduction

Contents

chair's welcome

our vision, mission and values

why gfs matters

what does success look like?

what have we done to achieve our aims?

Direct delivery

International Women's Day

Delivered the safe return of groups

GFS online

Big Dreamers' Club

International Day of the Girl

We asked our parents, girls and volunteers more

Working to improve our monitoring and evaluation

A new approach to opening groups

volunteers

Volunteers during COVID

Training

�������� review

Other funds

Results for the year

Free reserves and reserves policy

Investment policy

fundraising

Fundraising growth

governance arrangements

Trustee responsibilities

Committees

Membership

risk

leadership and key personnel

Recruitment and training

future plans

independent auditor’s report to the members

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of trustees

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Use of our report

�������������������������������������������������������������� expenditure account) Year to 30 September 2021

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���������������������� Year to 30 September 2021

B: Analysis of cash and cash equivalents

Principal accounting policies

Basis of preparation

Critical accounting estimates and areas of judgement

Assessment of going concern

Income recognition

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Expenditure recognition

Fixed asset investments

Debtors

Cash at bank and in hand

Creditors and provisions

Fund structure

Allocation of costs

Leased assets

Pension contributions

Financial instruments

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9

Trustees’ expenses and related party transactions

10

Taxation

11

Transfers

20

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Reference and administrative details of the charity, its trustees and advisers

Custodians

Website

Principal investment managers

Facebook

�� review

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�� expenditure account) Year to 30 September 2021

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�� Year to 30 September 2021

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