**Charity Registration No. 1085966**
## **GET SET GIRLS**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2021**
## **GET SET GIRLS**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr A Schechter|
|---|---|
||Rabbi B Dunner|
||Mrs L Orzel|
|**Charity number**|1085966|
|**Principal address**|196 - 198 Lordship Road|
||London|
||N16 5ES|
|**Independent examiner**|J Silver FCCA|
||Precision Ltd|
||32 Castlewood Road|
||N16 6DW|
## **GET SET GIRLS**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Statement of cash flows|6|
|Notes to the financial statements|7 - 14|
## **GET SET GIRLS**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The trustees present their annual report and financial statements for the year ended 31 August 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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 UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).
## **Objectives and activities**
The charity's objects are to provide disadvantaged girls and young women with training for employment, social skills and personal growth with a view to making them self-sufficient .
There is an ongoing development plan for the beneficiaries to achieve:
- Skills and confidence to access employment,
- Experience and knowledge essential to dealing with people effectively, Ability to make informed choices regarding family and community,
- Awareness of their own personal development and potential,and
- Motivation to contribute positively to society.
This is achieved by programmes that incorporate social activities, team building initiatives, trips, voluntary programmes, lectures and workshops, alongside vocational courses leading to qualifications.
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities .
## **Achievements and performance**
The trustees are satisfied with both the financial results and the facilities provided during the year.
Get Set Girls receives grants from a range of generous funders, for which we are very grateful. The charity was successful in raising a total of £ 507,968. Hence despite the impact of the coronavirus on the people supported by the charity and its staff , the charity has manged to increase its provision of courses and projects d uring the year,
## **Financial review**
In the year under review the charity generated income of £ 511,663 and incurred expenses of £ 483,666 resulting in net incoming resources of £ 27,997 .
The financial position of the charity is satisfactory. The charity's statement of financial activities shows total
reserves of £16,925 as at the 31 August 2021 of which £12,801 are restricted.
Programs are planned and rolled out in line with available funds. The trustees have no commitment to program expenditure, other than for current staff salaries. While there is no formal three-month notice requirement, the trustees policy is to endeavour to retain reserves equal to at least three months staff costs.
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks .
There are no current plans to change the activities or modus operandi in the foreseeable future .
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The trustees who served during the year and up to the date of signature of the financial statements were:
- 1 -
## **GET SET GIRLS**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
Mr A Schechter Rabbi B Dunner Mrs L Orzel
It is not the intention of the trustees to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
The charity trustees meet regularly, and they are assisted by a team of support staff.
The trustees' r eport was approved by the Board of Trustees.
..............................
**Rabbi B Dunner** Trustee Dated: .........................
- 2 -
## **GET SET GIRLS**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GET SET GIRLS**
I report to the trustees on my examination of the financial statements of Get Set Girls (the charity) for the year ended 31 August 2021.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
J Silver F CCA Independent Examiner Precision Ltd 32 Castlewood Road London N16 6DW
Dated: .........................
- 3 -
## **GET SET GIRLS**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
93,974
417,676
Investments
**4**
13
-
**Total income**
93,987
417,676
**Expenditure on:**
Raising funds
**5**
96
-
Charitable activities
**6**
62,913
420,657
**Total resources expended**
63,009
420,657
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
30,978
(2,981)
Fund balances at 1
September 2020
(26,854)
15,782
**Fund balances at 31 August**
**2021**
4,124
12,801|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2020**
**2020**
**£**
**£**
**£**
511,650
64,575
311,069
13
21
2
511,663
64,596
311,071
96
740
2,036
483,570
38,329
318,109
483,666
39,069
320,145
27,997
25,527
(9,074)
(11,072)
(52,381)
24,856
16,925
(26,854)
15,782|**Total**
**2020**
**£**
375,644
23
375,667
2,776
356,438
359,214
16,453
(27,525)
(11,072)|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
## **GET SET GIRLS**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2021**_
|**2021**
**Notes**
**£**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Debtors
**13**
137,324
Cash at bank and in hand
26,021
163,345
**Creditors: amounts falling due within**
**one year**
**15**
(116,477)
Net current assets/(liabilities)
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**16**
**Net assets/(liabilities)**
**Income funds**
Restricted funds
Unrestricted funds|**£**
13,390
46,868
60,258
(43,333)
16,925
12,801
4,124
16,925|**2020**
**£**
-
30,284
30,284
(48,446)|**£**
7,090
(18,162)
(11,072)
-
(11,072)
15,782
(26,854)
(11,072)|
|---|---|---|---|
The financial statements were approved by the Trustees on .........................
.............................. Rabbi B Dunner **Trustee**
- 5 -
## **GET SET GIRLS**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**2021**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
(41,281)
**Investing activities**
Purchase of tangible fixed assets
(12,995)
Investment income received
13
**Net cash used in investing activities**
(12,982)
**Financing activities**
Repayment of bank loans
50,000
**Net cash generated from/(used in)**
**financing activities**
50,000
**Net (decrease)/increase in cash and cash**
**equivalents**
(4,263)
Cash and cash equivalents at beginning of year
30,284
**Cash and cash equivalents at end of year**
26,021|**2020**
**£**
(930)
23
-|**£**
28,302
(907)
-
27,395
2,889
30,284|
|---|---|---|
- 6 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
## **Charity information**
Get Set Girls is a public benefit entity registered in England and Wales.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity will continue for the foreseeable future based upon the continued financial support from the community. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. Further explanation of the nature and purpose of each fund can be obtained upon request .
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
**(Continued)**
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% Reducing Balance Method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 8 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **1.10 Taxation**
The charity is exempt from tax on its charitable activities .
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
48,160
-
Grants
45,814
417,676
93,974
417,676|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
£
£
48,160
39,401
-
463,490
25,174
311,069
511,650
64,575
311,069|Total
2020
£
39,401
336,243
375,644|
|---|---|---|
During the year the charity received £2,849, (2020: £2,317) under the Coronavirus Job Retention Scheme and the government has covered the charity's loan interest and fees under the Bounce Back Loan Scheme in the sum of £833.
Also included in the restricted grants is is an amount of £9,000 received from the East End Community Foundation.
## **4 Investments**
||**Unrestricted**|Unrestricted|Restricted|Total|
|---|---|---|---|---|
||**funds**|funds|funds||
||**2021**|2020|2020|2020|
||**£**|£|£|£|
|Interest receivable|13|21|2|23|
## **5 Raising funds**
|**Unrestricted**Unrestricted
Restricted
**funds**
funds
funds
**2021**
2020
2020
**£**
£
£
Fundraising and publicity
Other fundraising costs
96
740
2,036
96
740
2,036|Total
2020
£
2,776
2,776|
|---|---|
- 10 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **6 Charitable activities**
||**Charitable**|
**Charitable**|
|---|---|---|
||**Expenditure**|
**Expenditure**|
||**2021**|
**2020**|
||**£**|
**£**|
|Staff costs|37,799|
13,964|
|Depreciation and impairment|6,695|
3,545|
|Courses|351,735|
234,339|
|Projects|32,994|
64,701|
|Office and administration costs|36,103|
28,359|
||465,326|
344,908|
|Grant funding of activities (see note 7)|15,000|
9,809|
|Share of governance costs (see note 8)|3,244|
1,721|
||483,570|
356,438|
|**Analysis by fund**|||
|Unrestricted funds|62,913|
38,329|
|Restricted funds|420,657|
318,109|
||483,570|
356,438|
|**For the year ended 31 August 2020**|||
|Unrestricted funds|38,329||
|Restricted funds|318,109||
||356,438||
## **7 Grants payable**
||**Charitable**|
Charitable|
|---|---|---|
||**Expenditure**|
Expenditure|
||**2021**|
2020|
||**£**|
£|
|Grants to institutions:|||
|Other|15,000|
9,809|
-
- 11 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**8**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
1,200
Legal and professional
-
1,089
Bank charges
-
955
-
3,244
Analysed between
Charitable activities
-
3,244
**9**
**Net movement in funds**
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets|**2021**
Support
costs
Governance
costs
**£**
£
£
1,200
-
1,200
1,089
-
375
955
-
146
3,244
-
1,721
3,244
-
1,721
**2021**
**£**
6,695|2020
£
1,200
375
146
1,721
1,721
**2020**
**£**
3,545|
|---|---|---|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **11 Employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
||-|4|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|37,799|13,964|
There were no employees whose annual remuneration was more than £60,000.
- 12 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**12**
**Tangible fixed assets**
**Cost**
At 1 September 2020
Additions
At 31 August 2021
**Depreciation and impairment**
At 1 September 2020
Depreciation charged in the year
At 31 August 2021
**Carrying amount**
At 31 August 2021
At 31 August 2020
**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**14**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year|**Fixtures and fittings**
**£**
71,402
12,995
84,397
64,312
6,695
71,007
13,390
7,090
**2021**
**2020**
**£**
**£**
137,324
-
**2021**
**2020**
**£**
**£**
50,000
-
6,667
-
43,333
-|
|---|---|
The above long-term loan is guaranteed by the government under the Bounce back loan scheme.
The loan accrues interest at 2.5% p.a.
- 13 -
## **GET SET GIRLS**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**15**
**Creditors: amounts falling due within one year**
**Notes**
Bank loans
**14**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**16**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**14**|**2021**
**£**
6,667
-
98,792
7,627
3,391
116,477
**2021**
**£**
43,333|**2020**
**£**
-
308
39,700
-
8,438
48,446
**2020**
**£**
-|
|---|---|---|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
## **18 Analysis of changes in net debt**
|**Analysis of changes in net debt**||||
|---|---|---|---|
||**At 1 September**|**Cash flows**|**At 31 August**|
||**2020**||**2021**|
||**£**|**£**|**£**|
|Cash at bank and in hand|30,284|(4,263)|26,021|
|Loans falling due within one year|-|(6,667)|(6,667)|
|Loans falling due after more than one year|-|(43,333)|(43,333)|
||30,284|(54,263)|(23,979)|
- 14 -