2021-08-31-accounts - The Brokerage Citylink

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For the year ended 31 August	2021	2021
Reference and administrative	information				1
Trustees' annual report					.....3
Independent auditor's report	.				. 16
Statement of financial activities		(incorporating	an income and expenditure	account) .	...20
Balance sheet					21
Statement of cash flows					22
Notes to the financial statements		.			23

Company	number	3087362
Charity number		1059173
Trading as		The Brokerage
Registered	office	65 London Wall
and operational		LONDON
address		EC2M STU
Country of	registration	England	&Wales
Country of	incorporation United		Kingdom
Trustees		Trustees, who	are also	directors	under company		law, who	served	during	the
		year and up to	the date ofthis report were as			follows:
		Buket Eccles		(appointed	4 March 2021)
		Philip Grant		Chair
		Ahmer Huda		Treasurer
		Esther Felton
		Catherine Knivett
		Mohammed Marikar
		Frank Moxon		(resigned	23 September	2021)
		Claire Taylor-Harris		(appointed	3 December	2020)
Key management		Katerina Rudiger		Chief Executive
personnel		Aisha Lysejko		Head of Service Delivery		&	Employer	Engagement
Bankers		National Westminster		Bank
		94 Moorgate
		LONDON
		EC2M 6XT
		Co-operative Bank
		PO Box 101, 1	Balloon	Street
		MANCHESTER
		M60 4EP

	Metro Bank
	120Cheapside
	LONDON
	EC2V 7JB
	Virgin Money	pic
	115Houndsditch
	LONDON
	EC3A 7BR
Solicitors	Simmons 8 Simmons
	CityPoint
	One Ropemaker Street
	London EC2Y	9SS
Auditor	Sayer Vincent	LLP
	Chartered Accountants		and Statutory		Auditor
	Invicta House,	108-114Golden		Lane
	LONDON, EC1	Y OTL

For the per	iod ende	d 31 Au	ust 2021
							2021	2020
					Unrestricted	Restricted	Total	Total
				Note	f	f	f
Income from:
Donations	and legacies				108,426		108,426	356,968
Charitable	activities				255,655	256,880	512,535	605,642
Investments					217		217	1,548
Total income					364,298	256,880	621,178	964, 158
Expenditure	on:
Raising funds				6a	137,660		137,660	129,474
Charitable	activities			6a	192,900	268,910	461,810	744,808
Total expenditure					330,560	268,910	599,470	874,282
Net income	/ (expenditure)		for the year
and net movement		in funds			33,738	(12,030)	21,708	89,876
Reconciliation offunds:
Total funds	brought	forward			431,124	29,697	460,821	370,945
Total funds	carried	forward			464,862	17,667	482,529	460,821

								2021		2020
						Note		f		f
Current assets:
Debtors						13	129,337		81,421
Cash at bank and		in hand					635,531		463,781
							764,868		545,202
Liabilities:
Creditors:	amounts	falling	due	within	one year	14	(262,339)		(64,381)
Net current	assets							502,529		480,821
Total assets less current			liabilities					502,529		480,821
Creditors:	amounts	falling	due	in more than one year		15		(20,000)		(20,000)
Total net assets								482,529		460,821
The funds	of the charity:					19a
Restricted	income	funds						17,667		29,697
Unrestricted	income funds:
General	funds						464,862		431,124
Total unrestricted		funds						464,862		431,124
Total charity funds								482,529		460,821

								2021	2020
								f	f
Net income for the	reporting period							21,708	89,876
(as per the statement offinancial		activities)
Dividends, interest	and rent from	investments						(217)	(1,548)
(Increase)/decrease	in debtors							(47,916)	84,545
Increase/(decrease)	in creditors							197,958	(14,728)
Net cash provided	by operating	activities						171,533	158,145
					Note	2021		2020
						f		f
Cash flows from operating activities
Net cash provided	by operating	activities					171,533		158,145
Cash flows from investing activities:
Dividends, interest	and rents from investments					217		1,548
Net cash provided	by investing activities						217		1,548
Change in cash and cash equivalents			in the	period
							171,750		159,693
Cash and cash equivalents at the		beginning		ofthe period			463,781		304,088
Cash and cash equivalents at the end			ofthe	period
							635,531		463,781

Detailed co	mparative	s for the statement of financial	activities
					2020
			Unrestricted	Restricted	Total
			f		f
Income from:
Donations	and legacies		356,968		356,968
Charitable	activities:		40,329	565,313	605,642
Investments			1,548	—	1,548
Total income			398,845	565,313	964,158
Expenditure	on:
Raising funds			129,474		129,474
Charitable	activities		127,176	617,632	744,808
Total expenditure			256,650	617,632	874,282
Net movement in funds			142,195	(52,319)	89,876
Total funds	brought	forward	288,929	82,016	370,945
Total funds	carried	forward	431,124	29,697	460,821

Income	fro	m	dona	tions		and	legacies
												2021					2020
								Unrestricted		Restricted		Total	Unrestricted		Restricted		Total
									f	f					f	f	f
Grants and		donations						108,426			108,426		254,218				254,218
Donated	services												102,750				102,750
								108,426			108,426		356,968				356,968
Donated	services			include		pro	bono legal	advice and	office space provided			by corporate		companies		who run
workshops		for our programmes.
Income	from		charitable			activities
												2021					2020
								Unrestricted		Restricted		Total	Unrestricted		Restricted		Total
									f	f					f	f	f
Programme		income								207,746	207,746					515,885	515,885
The Nomura			Charitable		Trust					49, 134	49,134					49,428	49,428
Partnership		income						237,333			237,333
Other income								18,322			18,322			40,329			40,329
Total income			from	charitable			activities	255,655		256,880	512,535			40,329		565,313	605,642
Income	from		investments
												2021					2020
								Unrestricted		Restricted		Total	Unrestricted		Restricted		Total
									f	f		f			f
Bank interest								217				217		1,548			1,548
								217				217		1,548			1,548

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This is sta	ted after char	ging:
								2021	2020
								f	f
Auditor's	remuneration	(excluding		VAT):
Audit								6,450	6,300
Analysis ofstaff costs,		trustee	remuneration		and expenses,		and the cost of key management	personnel
Staff costs were as follows:
								2021	2020
								f	f
Salaries and wages								353,486	399,377
Social security costs								29,946	30,875
Employer's	contribution	to defined		contribution	pension	schemes		24,026	33,668
								407,458	463,920

costs and	employer
2021	2020
No	No.

The averag	e number of employees (head count based on n	umber of staff employed) during the year was as fo	llows:
		2021	2020
		No.	No.
Raising funds		1.5	1.5
Charitable	activities	8.5	7.5
Support		1.0	1.0
		11.0	10.0

Tangible fixe	d as	sets
								Office
								equipment	Total
								f
Cost or valuation
At the start &	end	ofthe period						4,700	4,700
Depreciation
At the start &	end	ofthe period						4,700	4,700
Net book value
At the end of	the	period
At the start ofthe		year
All ofthe above assets are			used	for charitable	purposes.
Debtors
								2021	2020
								f	f
Service contracts		and fees						91,388	51,438
Other debtors								24,434	24,534
Prepayments	and	accrued	income					13,515	5,449
								129,337	81,421
All ofthe charity's		financial	instruments, both		assets and liabilities,	are measured	at amortised	cost. The	carrying
values ofthese are shown			above	and also in note 14 below.
Creditors: amounts falling			due	within one year
								2021	2020
								f	f
Trade creditors								11,418	4,663
Pension creditor								2,562	1,847
Taxation and	social security							9,932	6,573
Accruals								25,373	51,298
Deferred income		(note 16)						213,054
								262,339	64,381
Creditors: amounts falling			due	in more than	one year
								2021	2020
								f	f
Provision								20,000	20,000
								20,000	20,000

Deferred	income
			2021	2020
			f	f
Balance	at the beginning of	the year		37,906
Amount	released to income	in the year		(37,906)
Amount	deferred in the year		213,054
Balance	at the end of the year		213,054

Analysis of net assets between	funds (current year)
		General
		unrestricted	Restricted	Total funds
		f	f
Net current assets		484,862	17,667	502,529
Long term liabilities		(20,000)		(20,000)
Net assets at 31 August 2021		464,862	17,667	482,529
Analysis of net assets between	funds (prior year)
		General
		unrestricted	Restricted	Total funds
		f	f
Net current assets		451,124	29,697	480,821
Long term liabilities		(20,000)		(20,000)
Net assets at 31 August 2020		431,124	29,697	460,821

Movements in fund	s (cu	rrent year)
			At 1			At 31
			September	Income 8	Expenditure	August
			2020	gains	8 losses	2021
				f	f
Restricted funds:
Gateway to the City				64,454	(64,454)
The Right Career Goal			6,667	19,501	(19,501)	6,667
Summer Placement	Programme			67,809	(67,809)
Introduction to working		life		49,134	(49, 134)
Jump Start				5,207	(5,207)
Virtual internship				39,775	(29,775)	10,000
Young Leaders				11,000	(10,000)	1,000
Facebook mentoring	programme		20,000		(20,000)
BMO work experience			3,030		(3,030)
Total restricted funds			29,697	256,880	(268,910)	17,667
Unrestricted funds:
General funds			431,124	364,298	(330,560)	464,862
Total unrestricted	funds		431,124	364,298	(330,560)	464,862
Total funds			460,821	621,178	(599,470)	482,529

Movements in fun	d	s (pr	ior ye	ar)
					At 1			At 31
					September	Income 8	Expenditure	August
					2019	gains	8 losses	2020
						f	f
Restricted funds:
Lloyd's Community		Programme			9,897	119,403	(129,300)
Acuris						7, 1 71	(7, 171)
Gateway to the City						75,300	(75,300)
The Right Career Coal					13,300	20,000	(26,633)	6,667
Summer Placement		Programme			15,000	90,040	(105,040)
Introduction to working			life		12,422	49,428	(61,850)
Momentum					10,671		(10,671)
Jump Start						21,951	(21,951)
Getting there together					7,866		(7,866)
RBC Academy						1,260	(1,260)
London Community		Response		Fund		39,876	(39,876)
Mock Assessment	Centres					10,039	(10,039)
Reed Smith mentoring						12,104	(12,104)
Charles Russell Speechly						10,485	(10,485)
Miller Insurance						8,448	(8,448)
Barnett Waddingham						1,300	(1,300)
Facebook mentoring		programme				58,726	(38,726)	20,000
William Blair						9,906	(9,906)
Aspire						7,435	(7,435)
Mercers						2,363	(2,363)
DWF						2,000	(2,000)
Maths in the City						10,500	(10,500)
Factset						7,578	(7,578)
Awards for all					4,211		(4,211)
Access Foundation					3,825		(3,825)
BMO work experience					4,824		(1,794)	3,030
Total restricted funds					82,016	565,313	(617,632)	29,697
Unrestricted funds:
General funds					288,929	398,845	(256,650)	431,124
Total unrestricted		funds			288,929	398,845	(256,650)	431,124
Total funds					370,945	964,158	(874,282)	460,821

		Property
		2021	2020
		f	f
Less	than one year	56,063	56,063
One	to five years	130,627	187,809
		186,690	243,872