# ## ## |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|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| ## ## |||||O
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t40I-| ## ## ## |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| ## ##