Accounts & Report 20232024
Creating opportunities... Transforming communities...
O 196 Lordship Road @ 020 8800 4719 Ext 0 = gsg@londonsem.org.uk www.gsglondon.org.uk
Legal and Administrative Details Trustees: Charity number: Rabbi B Dunner Mr A Schechter 1085966 Mrs L Orzel Independent examiner: Principal address: 196 - 198 J Silver FCCA Precision Ltd Lordship Road London 32 Castlewood Road London N16 6DW N16 5ES ~~=~~ _ Accounts & Report 2023- 2024
ABOUT US
Get Set Girls is a youth club, annually targeting 70-150 disadvantaged young people aged 16 - 19 from low-income families and BME communities in London Boroughs of Hackney and Haringey. We provide girls from low-income families and BME communities with training, skills, social activities and personal growth in a culturally appropriate environment so that when they go out into the adult world they have:
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skills and confidence to access employment,
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Experience and knowledge essential for dealing with
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people effectively,
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Learnt how to make informed choices regarding family and community,
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Increased their awareness about their own personal development and about their ability to make their own choices,
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Improved mental and physical health
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Raised confidence, self-esteem and empowerment
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Motivation to contribute positively to society.
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Accounts & Report 2023- 2024
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OUR BENEFICIARIES
We target 16-19-year-old girls from low-income families and Orthodox Jewish communities.
They face barriers to education and training opportunities or social and extracurricular activities. This is due to:
a)Cultural requirements such as their need for separate gender activities, b)A hesitance to reach out to mainstream opportunities because of other, less defined, cultural barriers, c)The low self-esteem, little confidence, low motivation, and lack of empowerment and aspirations they suffer from as a direct result of their economic and social disadvantage outlined above. They therefore do not attend mainstream leisure, training, and intoemployment opportunities and as a result, remain locked into the cycle of poverty and social exclusion.
Accounts & Report 2023- 2024
Theory Of Change 2 z Reese tee : IMPACT: Young people who are: Empowered. Confident. Happy. Healthy. Connected. Inspired. Prosperous.
ACTIVITIES: Recreational activities, trips and The Arts. Healthy eating and sport. Volunteering community involvement. Personal development workshops.
OUR MISSION: To provide disadvantaged girls with training, skills, social activities and personal growth in a culturally appropriate environment to prepare them for a productive adult life.
OUR VISION: A world where every young person has the opportunity to develop their potential and achieve a brighter future.
Accounts & Report 2023- 2024
Providing
We We We We We are an recognize are aim to embrace inclusive that we are responsive reach our continuous program stronger and goals both improveme that values and better flexible to users nt and diversity together and meet and change in and treats and we our users funders in a an ever all our users encourage where they timely, evolving with dignity our users’ are. transparent world. and input. way. respect.
OUR VALUES
Accounts & Report 2023- 2024
CASE STUDY
Miriam’s* illustrations
The mentor also helped her create an effective application plan including which type of work samples to include with her application and what to include in her cover letter. Miriam (17), joined GSG with few skills The mentor also helped her come up with a plan B, regarding further training or The mentor also helped her come up with education in this area that she could access in a culturally appropriate and no particular employment plans. a plan B, regarding further training or She participated in GSG's educational environment, in case she is not able to secure employment immediately after education in this area that she could courses, and expected to move into leaving GSG. Miriam now has her work commissioned and published in access in a culturally appropriate international magazines and says, “Get Set Girls is amazing! They offer a wide environment, in case she is not able to office or school-based employment variety of courses so that everyone finds something that maximises their secure employment immediately after work, because that was what most of talents, and the full personalised support they provide ensures that everyone leaving GSG. Miriam now has her work her friends were planning to do. She can that helped me move confidently into a job they love the way I did.”* commissioned and published in joined a digital illustration course 'for the international magazines and says, fun of it’ and found that she really enjoyed and was good at graphics. Towards the end of the project, Miriam discussed this during a personal “Get Set Girls is amazing! They offer mentoring session and was guided a wide variety of courses so that towards making a decision that was everyone finds something that right for her, regardless of what her maximises their talents, and the full friends were planning to do. She came personalised support they provide to the conclusion that she would love to ensures that everyone can that work in digital illustration. The mentor helped me move confidently into a helped her create a plan of action 66— job they love the way I did.” whereby she would try various avenues of accessing employment, including searching local advertisers for job opportunities as well as proactively contacting businesses that might require illustrators.
Accounts & Report 2023- 2024
HIGHLIGHTS
This year has seen us increase our emphasis on physical and mental health provision, to the delight of parents, carers and young people.
HELP FOR THE HARD HIT
With our in-house licensed therapist and counsellor, we have been able to make mental health ultra-accessible this year. The availability of this provision has removed the stigma of reaching out for help, ensuring that even the most self-conscious teen has been able to access support in time of need. In addition, the Mental Health Workshops have given everybody the tools and skills to help themselves stay upbeat and emotionally resilient through life’s ups and downs.
WALKING IS WONDERFUL
With the support of London Marathon Foundation and TFL we have introduced a three-year walking project, inspiring and supporting young people to embed the incredible physical and mental health benefits of walking into their lives.
Accounts & Report 2023- 2024
HIGHLIGHTS
FOOD FOR FUEL
This year we’ve taken our Food for Fuel program up a notch by securing ongoing funding. We are delighted to have been able to provide our young people with consistent healthy lunch meals throughout the year.
This has been reflected in the greatly improved physical and mental health of participants, and their aspirations and interest in maintaining healthy lifestyles and choices.
I have been fortunate to participate in the most incredible programs that have been offered to girls over the past few months! The thought and care that went into each of these initiatives were remarkable, particularly the food for fuel program, which was a lifesaver for me, providing the essential daily boost I needed! I now possess numerous tools to carry with me into the future and a healthier perspective on life! Thank you. M.L. Beneficiary 2024
Accounts & Report 2023- 2024
HIGHLIGHTSHIGHLIGHTS
We are proud to have accomplished two major achievements in our mission to provide girls with top quality education and into-employment opportunities:
TEACHERS TRAINING
We’ve pioneered the first ever accredited Teachers Training Qualification/course for 16-18s!
We so excited to have achieved an ATHE qualification on our comprehensive Level 3 Teachers Training course – the first ever for 1618 year olds! This is a major step forward for our participants, who can now be fully qualified to teach when they leave Get Set Girls at the age of 19, further broadening their employment prospects.
AAT CENTRE
We are thrilled to have achieved accreditation as an AAT centre!
This means our beneficiaries can now take their accounting exams right here on our premises. Both staff and beneficiaries were buzzing with excitement over this development, as it eliminates travel time and streamlines their courses for them, allowing them to take exams in a familiar and comfortable setting. Additionally, this change reduced travel expenses and enhanced convenience and achievement for everyone involved.
Becoming an accredited AAT centre has truly solidified Get Set Girls reputation for professionalism and effectiveness, which are essential qualities for any approved center.
Accounts & Report 2023- 2024
HIGHLIGHTS
MATRIX CERTIFICATION
We are so excited to have achieved the Matrix Certification this year! This quality mark attests to the superior quality of Information, advice and guidance Get Set Girls provides its users.
ADDITIONAL ACHIEVEMENTS
We are delighted with our improved overall achievement: from 92.7% for the academic year 22/23, we have increased to a record-breaking 99.3% for the academic year 23/24.
Additionally, ALL leavers either found their first job or decided to continue with further education!
The previous year has elevated Get Set Girls to a new level. A significant number of our objectives, particularly in the educational sector, have been achieved, and we anticipate utilizing and applying these for the upcoming year. G.S. Get Set Girls project volunteer
Accounts & Report 2023- 2024
Goals
Continue Basement
We are committed to completing the construction of our basement, which has taken longer than anticipated. Our goal is to finish this project as soon as possible to provide the community with a suitable space for various activities. This will enable us to expand our programs and accommodate more young people effectively.
Sport focus
We aim to enhance our emphasis on sports activities and programs, providing our beneficiaries with greater opportunities to engage in physical pursuits. Sports have a remarkable capacity to positively impact individuals' physical, social, and mental well-being, fostering a healthier and more connected community.
Computer Suite Upgrade
We aim to transform our computer suite into a dynamic and engaging learning environment, featuring modern workshop spaces, classrooms, and training facilities designed to inspire and motivate young individuals. This upgrade will encourage our beneficiaries to participate in training, education, and extracurricular activities actively, equipping them with valuable skills and experiences that enhance their leisure, training, and employment prospects, ultimately improving their quality of life.
Budgeting Our objective is to equip our beneficiaries with vital budgeting skills that enable them to achieve financial stability, irrespective of their income levels. By offering thorough training and practical resources, we aim to establish a solid foundation for sustainable financial practices, empowering our beneficiaries to manage their economic situations with assurance and resilience.
Accounts & Report 2023- 2024
Table of content
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 -5 |
| Balance sheet | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8-18 |
GET SET GIRLS TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their annual report and financial statements for the year ended 31 August 2024.
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:
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Skills and confidence to access employment,
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Experience and knowledge essential to dealing with people effectively, Ability to make informed choices regarding family and community,
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Awareness of their own personal development and potential,and
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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.
Due to the increase in demand for the charity's services in the year under review the charity offered additional courses from a new location.
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 £61,195.
The charity would also like to thank The Wolfson Family Charitable Trust for its grant towards the charity’s refurbishment works.
Financial review
In the year under review the charity generated income of £763,641 and incurred expenses of £746,986 resulting in net incoming resources of £16,655.
The financial position of the charity is satisfactory. The charity's statement of financial activities shows total reserves of £77,358 as at the 31 August 2024.
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 endeavor 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.
page 1
GET SET GIRLS TRUSTEES' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The trustees who served during the year and up to the date of signature of the financial statements were: 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' report was approved by the Board of Trustees.
.............................. Rabbi B Dunner Trustee Dated: .........................
page 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 2024.
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 ACCA, 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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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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 FCCA Independent Examiner Precision Ltd 32 Castlewood Road London N16 6DW
Dated: .........................
page 3
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024
| Unrestricted Endowment | Unrestricted Endowment | Restricted | Total | Unrestricted Endowment | Unrestricted Endowment | Restricted | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | funds | ||||
| designa ted | designa ted | ||||||||
| 2024 | 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | 2023 | ||
| Notes | £ | £ | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||||
| Donations andlegacies | 3 | 61,560 | - | - | 61,560 | 131,374 | - | - | 131,374 |
| Charitable activities | |||||||||
| College Partnership grants | 4 | - | - | 655,108 | 655,108 | - | - | 566,673 | 566,673 |
| Grants | 4 | - | - | 46,706 | 46,706 | - | - | 68,786 | 68,786 |
| Investments | 5 | 267 | - | - | 267 | 51 | - | - | 51 |
| Total income | 61,827 | - | 701,814 | 763,641 | 131,425 | - | 635,459 | 766,884 | |
| Expenditure on: | |||||||||
| Raisingfunds | 6 | 4,637 | - | - | 4,637 | - | - | - | - |
| Charitable activities | |||||||||
| College Partnership | 7 | 17,298 | - | 643,767 | 661,065 | 35,720 | - | 563,509 | 599,229 |
| Career Preparationand training |
7 | 12,344 | - | 23,230 | 35,574 | 22,758 | - | 23,924 | 46,682 |
| Extra Curricular activities |
7 | 23,126 | - | 1,500 | 24,626 | 32,037 | - | 12,010 | 44,047 |
| Welfare | 7 | 4,806 | - | 16,278 | 21,084 | 10,413 | - | 27,663 | 38,076 |
| Total charitable expenditure | 57,574 | - | 684,775 | 742,349 | 100,928 | - | 627,106 | 728,034 | |
| Total expenditure | 62,211 | - | 684,775 | 746,986 | 100,928 | - | 627,106 | 728,034 | |
| Net (outgoing)/incoming resources before transfers | (384) | - | 17,039 | 16,655 | 30,497 | - | 8,353 | 38,850 |
page 4
STATEMENT OF FINANCIAL ACTIVITIES (continued) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024
| UnrestrictedEndowment | UnrestrictedEndowment | Restricted | Total | Unrestricted Endowment | Unrestricted Endowment | Restricted | Total | |
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | funds | |||
| designated | designa ted | |||||||
| 2024 | 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | 2023 | |
| Notes | £ | £ | £ | £ | £ | £ | £ | £ |
| Net (outgoing)/incoming resources before transfers | (384) | - | 17,039 | 16,655 | 30,497 | - | 8,353 | 38,850 |
| Gross transfers between funds | 10,000 | - | (10,000) | - | (32,350) | 32,350 | - | - |
| Net income for the year/ | ||||||||
| Net movement in funds | 9,616 | - | 7,039 | 16,655 | (1,853) | 32,350 | 8,353 | 38,850 |
| Fund balances at 1 September 2023 | 20,000 | 32,350 | 8,353 | 60,703 | 21,853 | - | - | 21,853 |
| Fund balances at 31 August 2024 | 29,616 | 32,350 | 15,392 | 77,358 | 20,000 | 32,350 | 8,353 | 60,703 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
page 5
GET SET GIRLS BALANCE SHEET AS AT 31 AUGUST 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangibleassets | 13 | 33,998 | 30,810 | ||
| Current assets | |||||
| Debtors | 14 | 155,620 | 89,821 | ||
| Cash at bank and in hand | 7,906 | 18,829 | |||
| 163,526 | 108,650 | ||||
| Creditors: amounts falling due within | |||||
| one year | 16 | (98,397) | (51,124) | ||
| Net current assets | 65,129 | 57,526 | |||
| Total assets less current liabilities | 99,127 | 88,336 | |||
| Creditors: amounts falling due after | |||||
| more than one year | 17 | (21,769) | (27,633) | ||
| Net assets | 77,358 | 60,703 | |||
| Income funds | |||||
| Restrictedfunds | 15,392 | 8,353 | |||
| Endowment funds - designated | 32,350 | 32,350 | |||
| Unrestricted funds | 29,616 | 20,000 | |||
| 77,358 | 60,703 |
The financial statements were approved by the Trustees on .........................
..............................
RabbiBDunner Trustee
page 6
GET SET GIRLS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Cash flows from operating activities | |||||
| Cash generated fromoperations | 20 | 8,124 | 32,272 | ||
| Investing activities | |||||
| Purchase of tangiblefixed assets | (13,550) | (29,000) | |||
| Investment income received | 267 | 51 | |||
| Net cash used in investing activities | (13,283) | (28,949) | |||
| Financing activities | |||||
| Repaymentof bank loans | (5,764) | (10,000) | |||
| Net cash used in financing activities | (5,764) | (10,000) | |||
| Net decrease in cash and cash equivalents | (10,923) | (6,677) | |||
| Cash and cash equivalents at beginning of year | 18,829 | 25,506 | |||
| Cash and cash equivalents at end of year | 7,906 | 18,829 |
page 7
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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 amounts 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.
Designated funds are unrestricted funds that the trustees have designated for specific projects.
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.
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.
page 8
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
1 Accounting policies
(Continued)
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:
Leasehold improvements Straight line method Fixtures and fittings 20% 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.
page 9
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
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 payments 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.
page 10
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
3 Donations and legacies
Donations and gifts Grants
| Unrestricted Unrestricted | Unrestricted Unrestricted |
|---|---|
| funds | funds |
| 2024 | 2023 |
| £ | £ |
| 47,071 | 110,919 |
| 14,489 | 20,455 |
| 61,560 | 131,374 |
4 Charitable activities
| College Partnership Grants |
Grants | Total 2024 |
College Partnership Grants |
Grants | Total 2023 |
|
|---|---|---|---|---|---|---|
| 2024 | 2024 | 2023 | 2023 | |||
| £ | £ | £ | £ | £ | £ | |
| Services provided | ||||||
| under contract | 655,108 | - | 655,108 | 566,673 | - | 566,673 |
| Performance related | ||||||
| grants | - | 46,706 | 46,706 | - | 68,786 | 68,786 |
| 655,108 | 46,706 | 701,814 | 566,673 | 68,786 | 635,459 |
5 Investments
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 267 | 51 | |
| Raising funds | |||
| Unrestricted | Total | ||
| funds | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraisingandpublicity | |||
| Support costs | 4,637 | - | |
| 4,637 | - |
- 6 Raising funds
page 11
GET SET GIRLS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
7 Charitable activities
| College | CareerExtra Curricular | CareerExtra Curricular | Welfare | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| Partnership Preparation | Partnership Preparation | activities Partnership Preparation |
2024 | 2023 | |||||
| and | |||||||||
| training | |||||||||
| 2024 | 2024 | 2024 | 2024 | ||||||
| £ | £ | £ | £ | £ | £ | ||||
| Staff costs | 44,791 | 11,150 | 3,256 | 1,618 | 60,815 | 59,308 | |||
| Depreciation and impairment | 10,362 | - | - | - | 10,362 | 9,259 | |||
| Courses | 563,921 | 8,156 | - | - | 572,077 | 548,882 | |||
| Projects | - | 14,880 | 19,982 | 18,078 | 52,940 | 76,997 | |||
| 619,074 | 34,186 | 23,238 | 19,696 | 696,194 | 694,446 | ||||
| Share of support costs (see note 8) | 37,137 | 1,388 | 1,388 | 1,388 | 41,301 | 29,438 | |||
| Share of governance costs (see note 8) | 4,854 | - | - | - | 4,854 | 4,150 | |||
| 661,065 | 35,574 | 24,626 | 21,084 | 742,349 | 728,034 | ||||
| Analysis by fund | |||||||||
| Unrestricted funds | 17,298 | 12,344 | 23,126 | 4,806 | 57,574 | 100,928 | |||
| Restricted funds | 643,767 | 23,230 | 1,500 | 16,278 | 684,775 | 627,106 | |||
| 661,065 | 35,574 | 24,626 | 21,084 | 742,349 | 728,034 |
page 12
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
7 Charitable activities
(Continued)
For the year ended 31 August 2023
| College | Career | Extra | Extra Welfare |
Total | ||||
|---|---|---|---|---|---|---|---|---|
| Partnership Preparation | Partnership Preparation | Curricular | 2023 | |||||
| £ | and£ | activities£ | £ | £ | ||||
| Staff costs | 55,503 | training 1,269 - |
1,268 | 1,268 | 59,308 | |||
| Depreciation and impairment Courses |
9,259 509,615 |
39,267 - |
- - |
- - |
9,259 548,882 |
|||
| Projects | - | 41,484 | 35,513 | 76,997 | ||||
| 574,377 | 40,536 | 42,752 | 36,781 | 694,446 | ||||
| Share of support costs (see note 8) | 20,702 | 6,146 | 1,295 | 1,295 | 29,438 | |||
| Share of governance costs (see note 8) | Share of governance costs (see note 8) | Share of governance costs (see note 8) | 4,150 | - | - | - | 4,150 | |
| 599,229 | 46,682 | 44,047 | 38,076 | 728,034 | ||||
| Analysis by fund | ||||||||
| Unrestricted funds | 35,720 | 22,758 | 32,037 | 10,413 | 100,928 | |||
| Restricted funds | 563,509 | 23,924 | 12,010 | 27,663 | 627,106 | |||
| 599,229 | 46,682 | 44,047 | 38,076 | 728,034 | ||||
| 8 | Support costs | |||||||
| Support Governance | Support Governance | 2024 | Support Governance | Support Governance | 2023 | |||
| costs | costs | costs | costs | |||||
| £ | £ | £ | £ | £ | £ | |||
| Office costs | 5,938 | - | 5,938 | 5,185 | - | 5,185 | ||
| Rent & rates | 40,000 | - | 40,000 | 24,253 | - | 24,253 | ||
| Accountancy | - | 2,040 | 2,040 | - | 1,200 | 1,200 | ||
| Legal and professional | - | 1,900 | 1,900 | - | 1,836 | 1,836 | ||
| Bank charges and | - | 914 | 914 | - | 1,114 | 1,114 | ||
| interest | ||||||||
| 45,938 | 4,854 | 50,792 | 29,438 | 4,150 | 33,588 | |||
| Analysed between | ||||||||
| Fundraising | 4,637 | - | 4,637 | - | - | - | ||
| Charitable activities | 41,301 | 4,854 | 46,155 | 29,438 | 4,150 | 33,588 | ||
| 45,938 | 4,854 | 50,792 | 29,438 | 4,150 | 33,588 |
page 13
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
9
| Net movement in funds | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Net movement in funds is stated after charging/(crediting) | ||
| Depreciation of owned tangible fixed assets | 10,362 | 9,259 |
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:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| 10 | 10 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 60,815 | 59,308 |
There were no employees whose annual remuneration was more than £60,000.
12 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
page 14
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
13 Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Leasehold | Leasehold | Fixtures and | Total | |
| land and | improvements | fittings | ||
| buildings | ||||
| £ | £ | £ | £ | |
| Cost | ||||
| At1September 2023 | - | 24,900 | 91,627 | 116,527 |
| Additions | - | 10,000 | 3,550 | 13,550 |
| At 31 August 2024 | - | 34,900 | 95,177 | 130,077 |
| Depreciation and impairment | ||||
| At1 September 2023 | 6,225 | - | 79,492 | 85,717 |
| Depreciation charged in the year | 7,225 | - | 3,137 | 10,362 |
| At 31 August 2024 | 13,450 | - | 82,629 | 96,079 |
| Carrying amount | ||||
| At 31 August 2024 | (13,450) | (13,450) 34,900 |
12,548 | 33,998 |
| At 31 August 2023 | (6,225) | (6,225) 24,900 |
12,135 | 30,810 |
14 Debtors
| 14 | Debtors | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | 155,620 | 89,821 | |
| 15 | Loans and overdrafts | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans | 27,569 | 33,333 | |
| Payable within one year | 5,800 | 5,700 | |
| Payable after one year | 21,769 | 27,633 |
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.
page 15
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
16 Creditors: amounts falling due within one year
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | ||||
| Bank | loans | 5,800 | 5,700 | |||
| Trade | creditors | 15 | 55,218 | 25,204 | ||
| Other creditors Accruals and deferred income |
36,031 1,348 |
18,763 1,457 |
||||
| 98,397 | 51,124 | |||||
| 17 | Creditors: amounts falling due after more than one year | |||||
| 2024 | 2023 | |||||
| Notes | £ | £ | ||||
| Bank loans | 15 | 21,769 | 27,633 |
page 16
GET SET GIRLS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
18 Analysis of net assets between funds
Fund balances at 31 August 2024 are represented by: Tangible assets Current assets/(liabilities) Long term liabilities
| Unrestricted Designated | Unrestricted Designated | Restricted | Total Unrestricted Designated | Total Unrestricted Designated | Total Unrestricted Designated | Restricted | Total |
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | 2023 |
| £ | £ | £ | £ | £ | £ | £ | £ |
| 33,998 | - | - | 33,998 | 30,810 | - | - | 30,810 |
| 17,387 | 32,350 | 15,392 | 65,129 | 16,823 | 32,350 | 8,353 | 57,526 |
| (21,769) | - | - | (21,769) | (27,633) | - | - | (27,633) |
| 29,616 | 32,350 | 15,392 | 77,358 | 20,000 | 32,350 | 8,353 | 60,703 |
page 17
GET SET GIRLS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024
19 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
| 20 | Cash generated from operations | 2024 | 2023 | |
|---|---|---|---|---|
| £ | £ | |||
| Surplus for the year | 16,655 | 38,850 | ||
| Adjustments for: | ||||
| Investment income recognised in statement of financial activities | Investment income recognised in statement of financial activities | (267) | (51) | |
| Depreciation and impairment of tangible fixed assets | 10,362 | 9,259 | ||
| Movements in working capital: | ||||
| (Increase) in debtors | (65,799) | (3,935) | ||
| Increase/(decrease) in creditors | 47,173 | (11,851) | ||
| Cash generated from operations | 8,124 | 32,272 | ||
| 21 | Analysis of changes in net (debt)/funds | |||
| At 1 September | Cash flows | At 31 August | ||
| 2023 | 2024 | |||
| £ | £ | £ | ||
| Cash at bank and in hand | 18,829 | (10,923) | 7,906 | |
| Loans falling due within one year | (5,700) | (100) | (5,800) | |
| Loans falling due after more than one year | (27,633) | 5,864 | (21,769) | |
| (14,504) | (5,159) | (19,663) |
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