## PROVIDING OPPORTUNITIES ## ACCOUNTS & ANNUAL REPORT Year ending 31/08/2022 **Creating Opportunities Transforming Communities** ## **TABLE OF CONTENTS** **Mission Statement** **Trustee Annual Report (Incorporating the Directors Report) Independent Examiners Report to The Trustees of Get Set Girls** **Statement of financial activities** **Statement of financial position** **Notes to the financial statements** **Get Set Girls Reg Charity: 1085966** 2 ## **TARGETS WE HAVE MET THIS YEAR TO HELP US MEET THE GROWING NEED OF SOCIOECONOMICALLY DISADVANTAGED YOUNG PEOPLE:** ## **Renova�ons and Basement Expansion** We launched and completed phase 1 (the shell) of our basement expansion so that we have a large, mul�-purpose venue for events, produc�ons, and addi�onal courses and programs. Our vision is to transform our building into a vibrant and colourful learning space, that provides updated and modern facili�es and opportuni�es. ## **Staff training** We have introduced regular Con�nued Professional Development training in various areas. Our dedicated and experienced staff are at the core of what we do. We are dedicated to con�nued staff development so that they are equipped to deliver quality programs, and to support young people through this challenging transi�onal stage. ## **Mental Health** We have developed our Mental Health focus, introducing a licensed therapist and counsellor to support young people and to train and advise staff. We are also monitoring and evalua�ng our ongoing projects to iden�fy how these contribute towards young people's improved mental health. With the Cost-of-Living Crisis having a significantly adverse affect on the mental health of many disadvantaged young people, this has become impera�ve. ## **Launching new courses** Over the past couple of years we have launched and are con�nuously developing new programs challenging young people's socio-economic disadvantage. We have introduced our Food for Fuel program, providing beneficiaries with nutri�ous lunches to combat the Cost-of-Living Crisis ## **Website development** We have upgraded our website to reflect the lifealtering work we do, to enable beneficiaries, stake-holders, funders and partners to remain up-to-date with our news and successes. 3 ## **GOALS TO HELP US GROW OUR IMPACT IN THE COMING YEAR:** ## **Complete Basement Expansion** We aim to complete phase 2 of our Basement expansion i.e. the internal decora�ng, so that it is ready to use. This will enable us to introduce new programs addressing current crises, e.g. Covid-19 and Cost-of-Living crisis, meet the sharp increase in membership demand in response to these, and run our ongoing programs more efficiently and with larger, modernised space. ## **Grow Our Numbers** The numbers of young people seeking to access our services exceeds our capacity. We aim to secure addi�onal funded places on our educa�onal programs so that we can accommodate the demand and deliver outcomes for more young people. ## **Achieve a Quality Mark** We are a well established organisa�on delivering high-quality provision, and we successfully meet the rigorous due diligence requirements of the colleges we partner with. We have however never taken undertaken an applica�on for a formal Quality Mark confirming the quality of our organisa�on and provision. We aim to achieve a Quality Mark this year as a badge of excellence that is recognised by local authori�es and funders. ## **Upgrade Current Programs and Develop New Ones** We are commi�ed to running projects that meet beneficiaries' needs in a holis�c manner. We aim to work with young people this year to iden�fy where their challenges lie and to upgrade our programs to target these. In par�cular, we want to focus on improving their mental health and comba�ng the affects of the Cost-of-Living Crisis. 4 ## **Our Vision** A world where every young person has the opportunity to develop their poten�al and achieve a brighter future. ## **Our Mission** To provide disadvantaged girls with training, skills, social ac�vi�es and personal growth in a culturally appropriate environment to prepare them for a produc�ve adult life. ## **Our Values** ## **EQUALITY** We are an inclusive programme that values diversity and treats all our users with dignity and respect. ## **COLLABORATION** We recognize that we are stronger and be�er together and we encourage our users' input. ## **INNOVATION** We embrace con�nuous improvement and change in an ever-evolving world. ## **FLEXIBILITY** We are responsive and flexible and meet our users where they are. ## **ACCOUNTABILITY** We aim to reach our goals both to users and funders in a �mely, transparent way. **We'd love to share more about the incredible work we do! Please visit our new website at https://www.gsglondon.org.uk** 5 ## **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 London N16 6DW 6 GET SET GIRLS TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST2022 The trustees present their annual report and financial statements for the year ended 31 August 2022. The financial slalements have been prepared in 8c¢ordance with the accounting policies set out in note 1 10 fin8n¢ial ststemenls and Comply with the ¢h8rily's goveming document, the Charities Act 2011 and "Accoun and Reporting by Charities." Statement of Recommended Practice applicable lo Charities preparing their a¢¢0 in a¢¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1 leffe¢tive 1 January 20191. he Objectives and activities The charity's objects are to provide disadvantaged girfs and young wowen with training for employment, soc skills and personal growth with a view to rllaking them self-sufficienl. There is an ongoing development plan for the beneficiaries lo achieve.. Skills and confidence to access employment, Experience and knowledge essential lo dealing with people effectively, Ability lo make informed choic regarding family and community, Awareness of their own personal development and polenlial,and Motivation lo contribute positively lo society. This is achieved by programmes that incorporate social activities, team building inilialives, trips, voluntary programmes, lectures and workshops, alongside vo¢ational ¢OLJrses leading to qualifications. The Trustees confirm their compliance with the duty lo 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 Iruslees are satisfied with both the financial results and the facilities provided during the year. Gel Set Girls receives grants from a range of generous funders, for which we are very grateful. The charity SU￿8$$fUl in raising a lotsl of £507.968. Hence despite ths impact of the ¢oron8Vitus on the people supporte the charity and ils stsff, the charity has manged lo increase ils provision of courses and projects during the ye Financial review In the year under review the charity generated income of £407,249 and incurred expenses of £402,321 resulti in nel incoming resources of £4,928. The financial position of the charity is satisfactory. The charity's ststemenl of financial activities shows to reserves of £21,853 as at the 31 August 2022. Prograrlls are planned and rolled out in line with available funds. The trustees have no commitment lo progra expenditure, other than for current staff salaries. While there is no formal Ihree-monlh notice requirement, t trustees policy is lo endeavour lo relain reserves equal lo at least three months staff costs. The trustees have identified and reviewed the major risks to which the ¢harity is exposed. Both manual and automated checks are regLJlarly invoked, partiCLJlarly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigatè any per￿1Ved risks. There are no current plans to change the activities or modus operandi in the foreseeable future. Stru¢ture, goveman¢e and management The ¢harity is controlled by its governing document, a deed of trust, and ¢onstitutes an uninwrporated ¢harity. The trustees who served during the year and up to the date of signature of the financial statements were.. GET SET GIRLS TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Mr A Schechter Rabbi B Dunner Mrs L Or2el It is not the inlention of the truslees to appoint any new truslees. 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 Iruslees, report was approved by the Board of Trustees. Rabbi B Dunn•r Trustee Dated.. GET SET GIRLS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GET SET GIRLS I report lo the trustees on my examination of the financial statements of Gel Set Girls (the charity) for the year ended 31 August 2022. Responsibilities and basi5 of report As the trustees of the charity you are responsible for the preparation of the financial stslewenls in accordan the requirements of the Charities Act 2011 Ilhe 2011 Acll. with l ￿port in respect of my examination of the charity's financial stslemenls Carried out under section 145 of th Act. In Carrying out my examination I have followed all the applicable Directions given by the Charity Co under se¢lion 14515llbl of the 2011 Act. 2011 iS8lon Independent examiner's Statement Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in se 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ACCA whi¢h is one of the listed bodies. Your attention is drawn lo the fact that the charity has prepared financial statements in accordance with Accoun and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applica in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Gharities.. Statem of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has now bee withdrawn. l understand that this has been done in order for financial slalements lo provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting period5 beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come lo my attention in connection with examination giving me cause lo believe that in any material respect.. a¢¢ounting records were not kept in respect of the charity as required by section 130 of the 2011 Act- or the financial statements do not accord with those records., or the financial slalements do not comply with the applicable requirements conceming the form and con accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement t accounts give a true and fair view which is not a matter considered as part of an independent examinatio I have no Con￿MS and have come across no other matters in connection ￿rith the examination to which atte shoLJld be drawn in this report in order to enable a proper Ljnderstanding of the financial statements to be reach J Silver FCCA Independent Examiner Precision Ltd 32 Castlewood Road London N166DW Dated.. GET SET GIRLS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2022 Unrestricted Restricted funds funds 2022 2022 Total Unrestricted Restricted funds funds 2021 2021 Total 2022 2021 Notes Income from: Donations and lega¢i&s Charitable activities Investments 72,266 72,266 334,977 93,974 417,676 1,650 334,977 13 Total income 72,272 334,977 407,249 93,987 417,676 511 Ex enditure on.. Raising funds 96 Charitable activities 33,738 368,583 402,321 62,913 420,657 483, Total resources expended 33,738 368,583 402,321 63,009 420,657 483,666 Net incominglloutgoingl resources before transfers 38,534 133,6061 4,928 30,978 12,9811 27,997 Gross transfers between funds 120,8051 20,805 Net incomellexpenditurel for the yearl Net movement in funds 17,729 112,8011 4,928 30,978 12,9811 Fund balances at 1 September 2021 4,124 12,801 16,925 126,8541 15,782 21 Fund balances at 31 August 2022 21,853 21,853 4,124 12,801 The statement of financial activities includes all gains and losses re¢ognised in the year. All income and expenditure derive from continuing activities. 10 GET SET GIRLS BALANCE SHEET AS AT31 AUGUST2022 2022 2021 Notes Flxed assets Tangible assets 13 11.069 3,390 Current assets Debtors Cash at bank and in hand 14 85,886 25,506 137,324 26,021 111,392 163,345 Creditors.. amounts falling due within one year 16 167,2751 1116,4771 Net current assets 44,117 Total assets less current Ilabllltlès 55,186 60, Creditors.. amounts falling due after more than one year 17 133,3331 143,3331 Nèt assets 21,853 16,925 Income funds Reslricled funds Unrestricted funds 21,853 21,853 The financial ststements were approved by the Trustees on Rabbi B Dunner Trustee 11 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2022 Accounting policies Charlty Infomiatlon Get Set Girls is a public benefit entity registered in England and Wales. 1.1 A¢¢ounting ¢onvention The finan¢ial statements have been prepared in a¢¢ordan¢e with the ¢harity's tgoverning document the Charities Act 2011, FRS 102 °The Financial Reporting Stsndard appli¢able in the UK and Republi¢ of I land. I'FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recomm nded Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Pu Benefit Entity as defined by FRS 102. The charily has taken advaniage of the provisions in the SORP for charities not to prepare a Statemant of Cash Flows. The financial sts18menls have dgparted from the Charities IAc¢ounls and Reports) Regulations 2008 onl the extent required to provide a true and fair view. This departure has involved following the Ststemen Recommended Pra¢ti¢e for ¢harities applying FRS 102 rather than the version of the Statement Recommended Practice which is referred to in the Regulations but which has Sin￿ been withdrawn. The financial slalements are prep8red in steding. which is the functional currency of the Charity. Monetary amounts in these financial slalements are rounded lo the ntrarest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern Al the lime of approving th& financial slaltrments, the Iruslees hav& a reasonable &xpe¢talion that the c will ¢onlinue for the foreseeable futur& based upon the continued finan¢i81 support from the ¢ommunily. the trustees continue to adopt the going concern basis of accounting in preparing the financial statemen 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Irustees in furtherance of their cha objectives. Restricted funds are subject lo specific conditions by donors as to how they may be used. Further explan of the nature and purpose of each fvnd can be obtained upon request. Endowment funds are subject lo specific conditions by donors that the capital musl be maintained b harity. 1.4 In¢ome Income is re¢ognised when the charity is legally enlill8d to it after any perfomance conditions have been the amounts ¢an be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Oiher donations are recognised once the charity has been not of the donation, unless performance conditions require deferral of the amount. Income tax recovera relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donatio 12 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Accounting policies Legacies are recognised on re￿Ipt or othetwise if Ihe charity has been notified of an impending distribution, the amount is known, and receipl is expected. If Ihe amount is not known, the legacy is treated as a contingent asset. 1.5 Expendlture Liabilities are recognised as expenditure as soon as there is a legal or conslru¢live obligation committing th& charity to that expenditure, it is probable that a transfer of e¢onomi¢ benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is a¢¢ounted for on an a￿rual$ basis and has been Classified under headings that aggregate all cost related to the category. Where costs cannot be directly attribLJted to pa￿C￿lar 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 commitmenl but not accrued as expenditLJre. 1.6 Tangible flxed assets Tangible fixed assets are initially measLJred at cost and SLJbseqLJently measured at cost or valLJation, net of depreciation and any impairment losses. Depre¢ialion is ￿COgnised so as lo write off the Cost or valuation of assets less their residual v81ues over their useful lives on the following bases.. Fixtures and fittings 33Vo Reducing Balan￿ Method The gain or loss arising on the disposal of an asset is determined as the difference between the sale prO￿edS and the carrying value of the asset, and is recognised in the statement of financial aclivits'es. 1.7 Impairment of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an irnpairmenl loss. If any such indication exists. the recoverable amount of the asset is eslimaled in order lo determine the extent of the impairment loss lif 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 lo set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the liability simultaneously. 13 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Accounting policies Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measu transaction price including transaction costs and are subsequently carried al amortised cost usi effective interest method unless the arrangement conslilules a financing Iransaclion, where the Iransa measured al the present value of the future receipts discounted al a market rate of interest. Financial lassified as receivable within one year are not amortised. al the ion is 88ets Basi¢ finan¢ial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price u the arrangement constitutes a financing Iransaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al 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 cours operations from suppliers. Amounts payable are classified as current liabilities if payment is due within year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Finan¢ial liabilities a￿ dere¢ognised when the Charity's contractual obligations expire or aro discharged or cancelled. 1.10 Taxation The charity is exempt from tax on its charitable activities. 1.11 Employèè bènefits The cost of any unused holiday entitlement is recognised in the period in which the employee's servic received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably com to terminate the employment of an employee or to provide termination benefits. Crltlcal accountlng estlmatos and Judg•m8nts In the application of the charity's 8¢¢0unling policies, the Iruslees are required lo make judgements. esli and assumptions about the carrying amount of assets and liabilities that are not readily 8pp8renl fro sources. The estimates and associated assumptions are based on hislc)ri¢81 experience and other f8¢tor are ¢onsidered lo be relevant. Actual results may differ from these estimates. The estimates and underfying assLJmptions are reviewed on an ongoing basis. Revisions to a¢¢ou estimates are recognised in the period in which the estimate is revised where the revision affects only period, or in the period of the revision and future periods where the revision affe¢ts both current and f periods. 14 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 Donations and legacies Unrestrlctèd Unrestricted funds funds Restricted ftjnds Total 2022 2021 2021 2021 Donations and gifts Grants 46,425 25,841 48,160 45,814 48.160 463.490 417,676 72,266 93,974 417,676 51 During the year the government has covered the charity's loan interest under the Bounce Back Loan Sc in the surll of £416. Charitsble activities Charitable Income 2022 2021 Services provided under contract Performance related grants 229,428 105,549 334,977 Investments Unrestricted Unrest funds 2022 Interest receivable Raising funds Total Unrestr 2022 Fundraisln and ublicil Other fundraising costs 15 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Raising funds Charitable a¢tivities Charitable Charitable Expenditure Expenditure 2022 2021 Staff costs Depreciation and impairment Courses Projects Offi¢0 and administration Costs 42,992 5,451 258,985 77,964 13,702 37,799 6,695 351,735 32,994 36,103 399,094 465,326 Grant funding of activities (see note 81 Share of govemance costs (see note 91 15,000 3,244 3,227 402,321 483,570 Analysis by fund Unreslri¢led funds Restricted funds 33,738 368,583 62,913 420,657 402,321 483,57 For thè yèar ènd8d 31 August 2021 Unrestricted funds Restricted funds 62,913 420,657 483,570 Grants payable Charitabl8 Charitable Expenditure Expenditure 2022 2021 Grants to institutions.. Other 15,000 16 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 Support costs Support Governance costs costs 2022Support costs Governan costs 2021 Accountancy Legal and professional Bank charges and interest 1,200 707 1,200 707 1,200 1,089 1.200 1,089 1,320 1,320 955 3,227 3,227 3,244 Analysed between Charitable a¢livilies 3,227 3,227 3,244 10 Net movement in funds 2022 2021 Nel movement in funds is slated after chargingllcredilingl Depreciation of owned tangible fixed assets 5,451 6,695 11 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits fr charity during the year. 12 Employees The average monthly number of employees during the year was.. 2022 Number Nu Employment ¢osts 2022 Wages and salaries 42,992 There were no employees whose annual remuneration was more than £60,000. 17 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 13 Tangible fixed assets Flxtur&s and Cost Al 1 Seplernber 2021 Additions 4,397 3,130 At 31 August 2022 7.527 Deprèclatlon and Impalmiènt At 1 September 2a21 Dgprecialion ¢harged in the year 71 Al 31 Augus12022 76A58 Carrying amount At 31 August 2022 At 31 August 2021 13,39 14 Debtors 2022 20 Amounts falling due within one year: Other debtors 85,886 13 15 Loans and overdrafts 2022 Bank loans 43,333 Payable within one year Payable after one year 10,000 33,333 The above long-lerm loan is guaranteed by the govemmenl under the Bounce back loan scheme. The loan accrues interest at 2.50/0 p.a. 18 GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2022 16 Creditors: amounts falling due within one year 2022 2021 Notès Bank loans Trade ¢redilors Other creditors Accruals and deferred income 15 10,000 39,411 16,407 1,457 6.667 8,792 7,627 3.391 67,275 17 Credltors: amounts falllng due after more than on• year 2022 2021 Notes Bank loans 15 33,333 43, 18 Related party transactions There were no disclosable related paty transactions during the year12021 none). 19 Analy$ls of ¢hanges In not Idebt}Ifund$ At 1 September 2021 Cash flows At 31 Aug Cash al bank and in hand 26,021 15151 Loans falling due within one year Loans falling due after more than one year 16,6671 143,3331 13,3331 10,000 01 31 123,9791 6,152 71 19