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2021-12-31-accounts

women@thewell

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Company No. 05664659

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women@thewell

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Contents Page
Reference and Administrative details 3
Trustees’ Report 4-13
Independent Auditors’ Report 14-16
Statement of Financial Activities 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Financial Statements 20-28

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women@thewell

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 DECEMBER 2021

Status The organisation is a charitable company limited by guarantee,
incorporated on 3 January 2006 and registered as a charity on 29
March 2009.
Governing Document The company was established under Memorandum and Articles which
established the objects and powers of the charitable company.
Company Number 05664659
Charity Number 1118613
Registered Office 54/55 Birkenhead Street, London, WC1H 8BB
Operating Office 4 Abbey Orchard Street, Westminster, London, SW1P 2HT
Trustees Janet Morris Company Secretary and Treasurer (resigned 31
December 2021)
Esther Boles (rsm)
Fiona Dick
Kathleen Heron
Maureen Meatcher
Dr. Carole Murphy
Anne Hewitt (rsm) (resigned 31 December 2021)
Anna Geatrell
Dr Anna Frances Rowlands (appointed 08 February 2021)
Hope Davis (appointed 08 February 2021)
Sr Bernadette Holmes (appointed 14 February 2022)
Company Secretary Janet Morris (resigned 31 December 2021), Hope Davis (appointed 08
February 2021)
Key Management Personnel
CEO Lynda Dearlove (rsm) MBE BA CQSW PGCPT
Director Caroline Hattersley MEd MIoD (resigned 24 June 2022)
Bankers The Co-operative Bank, Specialist Charity Team, 9 Prescot Street,
London, E1 8BE
Solicitors Bates Wells & Braithwaite, London LLP, 2-6 Cannon Street, London,
EC4M 6YH
Auditors Haysmacintyre LLP
10 Queen Street Place
London
EC4R 1AG

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women@thewell

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their report and the audited financial statements for the year ended 31 December 2021.

OBJECTIVES AND ACTIVITIES

Purpose and Aims

The charitable company’s purposes and principal activities as set out in the company’s memorandum of association are:

“To promote the benefit of the women inhabitants of England and Wales and in particular vulnerable women by the relief of those who are in need, hardship or distress, the advancement of good health, the provision of a safe place, and advice, training and support services and by assisting in the provision of education, training and support in finding employment.”

Mission Statement

In 2019 the charity undertook a strategic review. In the light of pandemic this strategy was reviewed at the end of 2021 to insure the future services respond adequately to the impact of the pandemic. The founding purposes are reflected within the aims as set out in our mission statement and strategic objectives as follows:

women@thewell is committed to working towards full abolition of the sex trade. Grounded in Catholic Social Teaching we seek to ensure that all women entrapped in the sex trade are given hope and are supported to see that an alternative future is possible. Through our evidence based exemplar model we provide women with comprehensive support to exit prostitution.

In order to fulfil this Mission, women@thewell aims to:

  1. Provide pro-active, supportive services to women involved in, or at risk of being involved in, prostitution and other aspects of the sex trade, where they are

  2. Provide a specialist, trauma responsive service in a creative and supportive environment

  3. Work across all our services to enable women to develop sustainable exit strategies from involvement in prostitution, and the cycles of abuse that are associated with the sex trade

  4. Support agencies to improve and develop their practice with a view to improving the services and support available to women who are seeking to exit prostitution

  5. Work at a local, national and international level, to abolish the systems of prostitution and the sex trade, ending the sexual exploitation of women and actively promote the establishment of effective exiting services.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

The Values of women@thewell are based on Catholic social thought and teaching, they include commitment to;

The Principles underlying the approach of our work at women@thewell are

2021 continued to be a challenging year with various levels of lockdown and restrictions in place throughout the year. As restrictions allowed we continued to run our drop-in centre five afternoons a week, providing support in the following areas:

We continued to deliver the work of the Outreach Service (started in July 2016) across the London Boroughs of Camden, Islington, Hackney, Haringey, City of London and Westminster. Continuing to engage with the Metropolitan Police Kidnapping and Trafficking Unit and with the Borough Police in Hackney, Islington and Haringey. We continued to develop the work of the organisation in line with our strategy, including the continued development of our Exiting Support Service (launched in 2017) though much of this work was delivered online due to the restrictions. In addition, we continued to develop the project looking at specialist employability support for women exiting prostitution, with a particular focus on helping women to develop the necessary skills to enable them to access existing training and support programmes again using a number of online platforms to deliver this.

We continue to involve volunteers to support our work. In 2021 40 volunteers were actively engaged in delivering support at women@thewell. Throughout the year, volunteers supported the drop in service, running activities and providing services that meet basic needs. As Covid regulations allowed at different points in the year volunteers with particular skills and appropriate qualifications ran workshops and activities related to these, for example cooking, IT, gardening and specialist craft and well-being activities. We also involved volunteers in the work of the outreach team and in supporting our communications work.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

women@thewell has continued to respond to London and Central Government consultations in the areas of VAWG, prostitution, trafficking and women in the criminal justice system, providing evidence through our work and the women's experiences to back up submissions. Internationally, we have continued to work with European Women’s Lobby, SPACE International, CAP International (Coalition for the Abolition of Prostitution), European Freedom Network (EFN) and other national and international partners. We lobby, not only for a Europe Free from Prostitution, but also influencing the worlds stage through the UN towards decriminalising the victims, exploited through their involvement in the sex trade (predominantly women) and the criminalisation of those who buy access to their bodies (demand), and all aspects of organisations and individuals profiting from the sex trade. We have been involved in delivering presentations on this issue during the annual Commission the Status of Women in New York for many years. Working within the formal side events in the UN in partnership with the Holy See and through the NGO parallel events in partnership with SPACE, CAP, NBCW, Arise Foundation, and other partners, this event did not go ahead in 2020, but has taken place via a virtual platform in early 2021. In 2021 we participated in UK and international online events and seminars both with and for our partner organisations.

In 2021, as with previous years, working with partner organisations including, Clinks, Homeless Link and Caritas Social Action Network fed into consultations and campaigns on issues relating to homelessness, domestic and sexual violence and exploitation, sharing the voices of the women we support to inform these areas of policy.

PUBLIC BENEFIT STATEMENT

All our charitable activities are undertaken for public benefit in that they focus mainly on:

  1. Provide trauma responsive services to women involved in, or at risk of being involved in, prostitution and other aspects of the sex trade

  2. Enabling women to develop sustainable exit strategies from involvement in prostitution, and the cycles of abuse that are associated with the sex trade

  3. Supporting other agencies to improve and develop their practice with a view to improving the services and support available to women who are seeking exit prostitution

  4. Working at a local, national and international level, to abolish the systems of prostitution and the sex trade, ending the sexual exploitation of women and actively promote the establishment of effective exiting services

The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Commission.

ACHIEVEMENTS AND PERFORMANCE

Achievements

This year has been a challenging one but we saw our numbers going back to normal. In 2021 we engaged with 299 women, of these 31 women were supported for a period of 28 days while other services were accessed.

We met 180 women on the streets with 88 receiving ongoing support. Our centre-based team supported 176 women. Throughout the year, 40 volunteers were active in supporting our services and other work.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2020

ACHIEVEMENTS AND PERFORMANCE (continued)

As in 2020, in 2021 we secured funding to support us to adapt our provision which enabled us to meet the additional costs of adaptations to ensure Covid safe provision.

Progress overview

The pattern from previous years around the complexity of women coming into contact with our services has continued. External changes have continued, both in terms of legislation and provision of services. The uncertainty of Brexit and the increasing hostility of the external environment continued to be a big issue in 2021. In addition the continued presence of Covid saw many additional challenges and further difficulties in accessing support due to further lockdowns and ever changing restrictions. A big focus of work in 2021 was ensuring women had access to Covid vaccinations as they were rolled out across the different priority groups. This work is ongoing as we seek to ensure the women we support are enabled to access boosters and other related health care.

As the impact of Covid continues, we saw other services closing and many being forced into reducing services and support, for many services access being only via virtual platforms continued, presenting yet another barrier to access for many of the women we support. We also saw further increases in mental health difficulties, isolation and substance use as a result of the impact of restrictions around Covid. Our role in advocating for our clients became more and more important, along with our ability to provide ad-hoc welfare services such as food parcels for those experiencing significant destitution was much needed, as well as or commitment to enabling face to face support for women in Covid safe ways was essential. At many points in the year we were one of very few services in North London offering any kind of face to face support.

As in the last few years, we saw more agencies working together, allowing us to strengthen our external partnerships. Initiatives like ‘Everybody In’ opened access to accommodation for the first time for many of our women and we worked closely with other agencies to ensure that the women were accommodated via this programme were supported effectively into move on accommodation and support. We also worked closely with LB of Camden to bid for pilot funding from the then MHCLG (now DLUHC) to provide respite housing for women experiencing any kind of violence and following securing of the funding we are the main referral partner for this pilot project.

The interest in volunteering which has allowed us to increase the numbers and range of volunteers that support our work continued. While many of our older volunteer cohort had to continue shield, new volunteers came forward to support us with our continuing adapted provision. Our work through Covid, grounded in the delivery of frontline services and support meant we were well placed to advocate on policy issues both in partnership with other agencies and by ourselves, giving a voice to those whose needs typically go unheard.

In 2018 we began to test the water around awareness raising and training and consultancy services to support the improvement of mainstream and generic services in meeting the needs of women involved in the sex trade. This work continued in 2021 despite the challenges:

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

External environment

External changes that began in 2020 continue to be substantial in 2021. We are seeing more women beginning to engage in prostitution as a response to financial challenges presented by the pandemic. But we continue to see more women keen to exit prostitution as awareness of the support available increases and as the international context continues to evolve towards an abolitionist approach (e.g. as in France and Ireland).

We are seeing an increased interest in other charitable and statutory services to develop their systems to better meet the needs of complex women, and a growing understanding (brought about largely by the pandemic) of the risks inherent in prostitution.

FINANCIAL REVIEW

During the year there were total income of £487,868 (2020: £776,323) and total expenditure of £657,305 (2020: £776,323). Further details of grant income can be found within note 3 to the accounts.

All expenditure supports the key objectives of the charity as described above.

As stated within the Reserves Policy below, the nature and quantity of reserves will be reviewed on a regular basis and adjusted to reflect any changes in the Charity’s financial position. The trustees and senior staff consider it a priority to secure sufficient income to ensure the long-term future of the Charity.

Reserves Policy

The Management Committee has adopted a policy whereby the unrestricted reserves held by the charity allow for three months of budgeted expenditure in the event of a funding shortfall, this being £180,590.

The total reserves of the charity at 31 December 2021 were £89,625, of which £3,383 were held in restricted funds. The unrestricted funds totalled £86,243. This leaves the charity with free reserves (being unrestricted funds less those invested in fixed assets) of £83,117.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Risk disclosure

women@thewell has a formal risk management process through which the senior management team and management committee identifies the major risks to which the organisation may be exposed and has ranked these by likelihood and impact, culminating in a risk control document which is updated on a regular basis. All significant risks, together with current mitigation actions, are reviewed regularly throughout the year by the Trustees. The Trustees are satisfied that systems have been developed and are in place to mitigate identified risks to an acceptable level. Throughout 2021 and into 2022 risk reviews formed part of each of the Trustees meetings due to the changing requirements and understandings of the transmissibility of Covid-19. The principal risks and uncertainties identified by the charity are as follows:

Risk identified Action taken to mitigate the risk
Loss of key personnel Restructure of organisation was undertaken in 2019 to
address succession planning opportunities
Ensuring the organisation has enough funds to operate Regular detailed financial reporting linked to robust
budget setting. Introduction of additional capacity in
senior management team to engage in fundraising
activities. Fundraising strategy in place to ensure
diversification of funding sources. Regular review by
Trustees of reserves policy
Governance risks related to gaps in Trustee skills and
experience and understanding of the organisation		 Ongoing recruitment strategy for Trustees in place. New
Trustees receive induction and training. Trustees
recruited with relevant professional skill sets and regular
reviews are undertaken to identify gaps in knowledge
and experience and fill these as necessary
Operational risks related to delivery of services Health and Safety and broader operational risk
assessments undertaken and mitigation procedures
identified and regularly reviewed. Operational policies
and procedures are regularly reviewed and updated
Environmental risks resulting in loss of access to
premises		 Business continuity and disaster recovery plans in place.
Fire safety systems and procedures in place
Risk to reputation Trustees and Senior Management Team regularly
review the external environment and evaluate the
potential impact on the organisation
Law, regulation and compliance risks Trustees and Senior Management team keep up to date
on legal and regulation issues through attendance at
training, conferences and through professional bodies to
which they are affiliated. Action is taken as necessary, in
addition a Finance and Compliance Subcommittee of the
Board has been established
Risks relating to the pandemic The organisation has developed service specific Covid
risk assessment systems and processes

Environmental impact

women@thewell is committed to minimising our environmental impact recognising particularly the disproportionate effect environmental and climate change has on women across the globe. Examples include use of food that would otherwise go to landfill and provision of a clothing room for women that provides second hand clothes in good condition but no longer wanted by the original owner.

Equality and Diversity

women@thewell works to ensure equality and diversity in all our work, recognising that 45% of the women we support are from minority ethnic communities we seek to ensure that our staff, volunteers and trustees are representative of the communities the women we support come from including ensuring a broad range of community languages.

Safeguarding

women@thewell are proud of our safeguarding standards, working with vulnerable women who have experienced historic and current abuse and exploitation we work to exceed the required standards in recruitment and practice and to ensure that staff and volunteers work in a way that minimises the possibility of power imbalances.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

FUTURE PLANS

In 2018 Trustees undertook a strategy review that was implemented in 2019, for the period 2019 – 2022. The outcomes included the revision of senior roles in the organisation, including reducing the CEO time to 3 days a week and developing a Director level role to take on additional responsibilities in relation to the running of the organisation. Some minor revisions to structure were also agreed, to provide more effective operational oversight to the services being delivered by the charity. The organisation structure of operational roles was further revised in 2020 to support the necessary changes to provision in light of the pandemic. The strategy was reviewed towards the end of 2021 with a view to instigating key change in 2022.

Plans for 2022 include working towards provision of services in response to the pandemic impact (syndemic impact) as this moves to epidemic and towards recovery in an unpredictable environment where evolving restrictions may become the norm for the foreseeable future, along with continuing the development of training and consultancy services and provision of much needed psychosocial support for women.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Status

According to our governing documents the organisation is a charitable company limited by guarantee, incorporated on 3[rd] January 2006 and registered as a charity on 29[th] March 2007. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and Appointment of Management Committee

Trustees are recruited to ensure an adequate skill mix within the management committee. The directors of the company are also charity trustees for the purposes of charity law and refer to themselves as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are recruited and elected to serve for a period of up to three years with onethird or the nearest number retiring by rotation and who, being eligible, may offer themselves for re-election. Provision for this is made in the election process to the Management Committee, which states that the Institute of our Lady of Mercy (IOLM) nominate three (3) members, the National Board of Catholic Women (NBCW) nominate two (2) members with the remainder being appointed by the charity membership in accordance with Articles 27-29.

All members of the Management Committee give their time voluntarily and receive no benefits from the charity.

A trustee induction programme has been established for new members. Each Management Committee member is provided with a copy of the Charity Commission’s Guide “The Essential Trustee” and provision is made within the training budget to ensure that all committee members are kept up to date with relevant changes in charity law, appropriate aspects of governance and issues relating to the client group. Two leads have been identified in the areas of Safeguarding and Data Protection. Throughout the year, training was identified and offered as appropriate to each trustee.

Pay policy for senior staff

The Trustees consider that the Board of Trustees and the Senior Management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All Trustees give of their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 17 to the accounts.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Pay policy for senior staff (continued)

The pay of the Senior Managers and all staff are reviewed annually and normally increased in accordance with average earnings to reflect a cost of living adjustment, however due to the uncertainty surrounding Covid-19 no increase was considered in 2021. In view of the nature of the charity, the Trustees benchmark against pay levels in other charities. The remuneration bench-mark is the mid-point of the range paid for similar roles in similar charities and sizes. One employee received renumeration above £60,000 in the amount of £62,150.

Organisational Structure

women@thewell currently has nine members on the Management Committee (ten within the year ended 31 December 2021). The Chief Executive Officer and Director attend its meetings, but have no voting rights.

The committee is responsible for the strategic development of the charity and financial oversight, and ensuring staff have the adequate resources to carry out the day to day running of the charity, the responsibility for which is delegated to the CEO and Director, although individual committee members are in regular communication.

Dame Helen Mirren and Baroness (Lady) Helena Kennedy have continued to be Patrons of the charity. Rachel Moran joined in 2017 as an Ambassador for women@thewell.

The day to day running of the charity is delegated to the Director.

The charity is influenced by international, national and local policies on vulnerable women insofar as they are compatible with the charity’s objectives. The charity also actively seeks the experiences of other organisations in the field, be this through direct partnership working, action research or other shared communication. Management Committee members and staff are involved with a number of other organisations either through paid or voluntary work which serves to inform the work of the charity, some of which are outlined below.

Sister Esther Boles has been a sister of mercy over 30 years. She has worked in primary and secondary education for more than 20 years. She was involved in the initial setup of women@thewell and the refurbishment of the building and then worked in the centre as volunteer for a number of years. She has an interest in working as a team with staff and service users.

Janet Morris (Treasurer and Company Secretary) was the accountant for a number of small companies until joining the JTS Partnership, advisors to the Institute of Our Lady of Mercy, in 1993. Since then she has used her accounting knowledge to provide help and advice in charity finances. For a number of years she was also dealing with Human Resources issues and has a great deal of experience in this field. In 2017 she retired and now also volunteers at women@thewell, supporting women in the centre and helping with financial and HR administration.

Anna Geatrell Anna Geatrell is a Research Executive at Ipsos, working within the Ethnographic Centre of Excellence. She is qualified to postgraduate level in applied social scientific research methods, and has worked and volunteered in the faith-based charity sector both locally and nationally. She joined the board of women@thewell in December 2020.

Sister Catherine (Kathleen) Heron is a Sister of Mercy she became involved with women@thewell eleven years ago, bringing her skills as a reflexologist to the project. She has continued volunteering and supporting and befriending women throughout the pandemic and became a trustee of the organisation in 2020.

Hope Davis (took over Treasurer and Company Secretary roles in January 2022) has over 15 years management experience in both industry and practice. She holds an MBA from Cass Business School and is a fully qualified Chartered Accountant (FCCA UK). She is has specific expertise in effective risk management, governance, business ethics and corporate social responsibility

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Dr Anna Rowlands (Chair) is St Hilda Associate Professor of Catholic Social Thought and Practice at Durham University. She is an academic, writer and occasional broadcaster who works on the ethics of migration, and the history of political theologies. She works with a range of community organisations. She is the chair of the Centre for Catholic Social Thought and Practice, and is, by papal appointment, a Member of the Vatican's Dicastery for Integral Human Development. Anna took up the role of Chair of Trustees for women@thewell in February 2021.

Maureen Meatcher (Vice Chair) is an experienced teacher who held roles including head of department, head of year and head of upper school. She later left teaching to look after her family, and during this time volunteered in local primary schools and became a trustee of Wokingham Crossroads, a charity that supports carers. She has been actively involved in The Union of Catholic Mothers, becoming their National Vice President. Maureen has gone on to hold the role of International Convenor, and now president of the National Board of Catholic Women.

Dr. Carole Murphy is a Senior Lecturer in the Criminology and Sociology Programs, and Research Lead for the Centre for the Study of Modern Slavery at St Mary’s University, London. Research interests include human trafficking and modern slavery; social problems, inequalities and justice; addiction and recovery and social and health/mental health issues. Previous research examined European policing of human trafficking and modern slavery; exploring experiences of independent living for survivors of trafficking; identifying gaps in long term support provision for survivors in the UK and intersections between migration, smuggling and human trafficking in media representations and political discourse. Carole has many years of experience in managing qualitative research, evaluating services and designing and utilising research tools including interviews and surveys.

Fiona Dick worked in the Civil Service as a communications specialist for nearly 25 years, in a number of different departments including 10 Downing Street, the Home Office, Cabinet Office and the Crown Prosecution Service. Since taking early retirement after cancer treatment, she has been part-time fundraising and communications consultant for a small cancer charity in Guildford, The Fountain Centre, and a trainer with a number of City firms. She was a board member at the Catholic Social Action Network for six years, where she worked alongside Sr Lynda Dearlove, and is a Trustee of two other small Catholic charities.

Anne Hewitt (rsm) has been a Sister of Mercy for 57 years she was educated by the Mercy sisters and by the FCJ nuns in Middlesbrough. She trained as a Primary school teacher and later did a Diploma in Special Education working with educationally disadvantaged young people. She spent a year in Rome returning to become Formation Director for the Mercy Congregation. She became Assistant Director at St Beuno’s Spirituality Centre in North Wales. Being elected to the Central Leadership Team of the Institute has given her the opportunity to become involved in the work of women@thewell.

Sister Bernadette Holmes (rsm) joined the Institute of Our Lady of Mercy in January 1984. Born in Whalley, Lancashire, she lived in Accrington and was taught at the local Catholic Primary school of St Anne’s and then by the Mercy sisters at Paddock House Grammar School, for girls in Oswaldtwistle. In 1979, she left school and went to train at Manchester Royal Infirmary as an SRN. She gained her qualification in 1982 and worked on orthopaedics, before deciding to follow the call to Religious Life. After making her First Profession in 1986, she was missioned to Bridlington. In February 1987, she started work at St Catherine’s Hospice in Scarborough where she worked for three years in the ministry of Palliative Care. She then took up a new Macmillan Post in August 1989, to set up the service for Palliative Care in Bridlington and East Yorkshire, which was both a challenge and a privilege. Over the next nine years this service developed and expanded meeting the needs of many people at all stages of their illness. She was on the team that set up a Palliative Day Hospice in Driffield (East Yorkshire) along with instigating dedicated palliative care beds on the inpatient unit. In 1998, the Macmillan Unit was set up at Bridlington Hospital. This consisted of beds on the inpatient unit and day hospice, supported by staff and volunteers. It served the surrounding area of Bridlington. In 1998, she was elected on to the Institute of Our Lady of Mercy Leadership Team, where she was a Trustee for ten years, supporting the Sisters in various Convents and taking a lead in supporting and developing the various Care Homes, owned by the Institute and dealing with Trustee responsibilities. During this time, she worked part time at St Gemma’s Hospice in Leeds on the inpatient unit and then around the City of Leeds in Harehills, Oakwood, Osmondthorpe and Halton as a Clinical Nurse Specialist in Palliative Care. This continued until 2018, when she was re – elected on to the Leadership Team as a Trustee and finished this ministry.

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of the Board of Trustees’ responsibilities for the financial statements

The Trustees, who are also directors of women@thewell for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year and not approve the financial statements unless they are satisfied that the financial statements give a true and fair view of the state of the affairs of the Charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the year then ended.

In preparing those financial statements which give a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of Financial Statements may differ from legislation in other jurisdictions.

Each of the Directors, who held office at the date of approval of this Trustees’ Report, has confirmed that there is no information of which they are aware which is relevant to the audit but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are made aware of such information.

Auditors

Haysmacintyre LLP have expressed their willingness to continue in office as auditors.

In preparing this report, the directors have taken advantage of the small companies exemption provided by section 415A of the Companies Act 2006.

Approved by the Trustees on 22 September 2022 and signed on their behalf by:

Anna Rowlands

......................................

Dr Anna Rowlands (Chair)

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women@thewell

Company No. 05664659

INDEPENDENT AUDITORS’ REPORT TO THE MEMEBERS OF WOMEN@THEWELL FOR THE YEAR ENDED 31 DECEMBER 2021

Opinion

We have audited the financial statements of women@thewell for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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women@thewell INDEPENDENT AUDITORS’ REPORT TO THE MEMEBERS OF WOMEN@THEWELL

Company No. 05664659

FOR THE YEAR ENDED 31 DECEMBER 2021

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Charity Commission, the Data Protection Act and safeguarding regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities SORP (2019), the Charities Act 2011, and tax regulations.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition, and management override of controls. Audit procedures performed by the engagement team included:

15

women@thewell

Company No. 05664659

INDEPENDENT AUDITORS’ REPORT TO THE MEMEBERS OF WOMEN@THEWELL FOR THE YEAR ENDED 31 DECEMBER 2021

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Siobhan Holmes (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditor London Date: 22 September 2022 EC4R 1AG

16

women@thewell

Company No. 05664659

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Restricted Total Total
Funds Funds 2021 2020
Notes £ £ £ £
INCOME ON:
Donations and legacies 2 63,898 - 63,898 18,842
Charitable activities
Grants 3 278,240 139,636 417,876 743,917
Fundraising activities 792 - 792 3,380
Investments 12 - 12 714
Other 5,290 - 5,290 9,470
--------------------- ---------------- ---------------- ---------------------
Total income 348,232 139,636 487,868 776,323
EXPENDITURE FROM:
Raising funds
Fundraising and promotional costs 30,924 708 31,632 42,300
Charitable activities
Project costs 4-6 394,079 231,594 625,673 712,669
--------------------- ---------------- ---------------- ---------------------
Total expenditure 425,003 232,302 657,305 754,968
-------------------- -------------------- -------------------- --------------------
Net movement in funds 7 (76,771) (92,666) (169,437) 21,354
Transfer between funds (10,396) 10,396 -
Funds brought forward 173,409 85,656 259,065 237,711
-------------------- -------------------- -------------------- --------------------
Funds at 31 December 2021 86,242 3,386 89,628 259,065
========= ========= ========= =========

The notes form part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year.

All amounts derive from continuing activities.

Full comparative figures for the year ended 31 December 2020 are shown in note 18.

17

women@thewell BALANCE SHEET AT 31 DECEMBER 2021

Company No. 05664659

2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 3,126 8,295
CURRENT ASSETS
Debtors 10 33,283 30,939
Short term deposits and cash in hand 145,363 312,699
----------------- -----------------
178,646 343,638
CURRENT LIABILITIES
CREDITORS: amounts falling due
within one year 11 (92,144) (92,868)
NET CURRENT ASSETS 86,502 250,770
-------------------- --------------------
89,628 259,065
NET ASSETS
FUNDS
Unrestricted funds
General funds 14 86,242 173,409
Restricted funds 14 3,386 85,656
----------------- -----------------
TOTAL CHARITY FUNDS 89,628 259,065
======== ========

Approved by the Trustees and authorised for their issue on 22 September 2022 and signed on their behalf by:

Anna Rowlands

......................................

Dr Anna Rowlands (Chair)

The notes form part of these financial statements.

18

women@thewell STATEMENT OF CASH FLOWS

Company No. 05664659

AT 31 DECEMBER 2021

2021 2020
Note £ £
Cash flows from operating activities 16 (167,348) 21,077
------------------ ------------------
Cash flows from investing activities
Interest income 12 714
Purchase of tangible assets - (1,860)
----------------- -----------------
Cash (used in) / provided by investing activities 12 (1,146)
(Decrease) / increase in cash and cash equivalents in the year (167,336) 19,931
Cash and cash equivalents at the beginning of the year 312,699 292,768
---------------------- ----------------------
TOTAL CASH AND CASH EQUIVALENTS AT THE END
OF THE YEAR 145,363 312,699
========== ==========
Analysis of changes in net debt At 31 At 31
December December
2020 Cashflows 2021
£ £ £
Cash in hand 312,699 (167,336) 145,363
---------------------- ---------------------- ----------------------
Total 312,699 (167,336) 145,363
========== ========== ==========

19

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Statement of compliance

The financial statements are prepared under the historical cost convention. The format of the financial statements has been presented to comply with the Companies Act 2006, FRS102 The Financial Reporting Standard applicable in the UK and Ireland and the Statement of Recommended Practice Accounting and Reporting by Charities (“SORP 2015”) (Second Edition, effective 1 January 2020) . The Charity is a Public Benefit Entity as defined by FRS102.

General information

The Charity is a company limited by guarantee, incorporated in England and Wales (company number: 05664659) and a charity registered in England and Wales (charity number: 1118613). The Charity’s registered office address is: 54/55 Birkenhead Street, London, WC1H 8BB.

Preparation of accounts on a going concern basis

The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future. The Charity has prepared a comprehensive plan for addressing funding as a result of moving out of the COVID-19 pandemic and towards the immediate threat of the cost of living crisis. At the present time the Trustees do not believe this will have a substantial impact on the Charity’s ability to operate.

Significant judgments and sources estimation uncertainty

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Charity’s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management’s best knowledge of the amount, events or actions, actual result ultimately differ from those estimates. The trustees do not consider that there are any significant areas of judgement or uncertainty.

Income recognition

All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably.

Donations and legacies

Donations and gifts and are included in full in the Statement of Financial Activities when there is entitlement, probability of receipt and the amount of income receivable can be measured reliably.

Gifts in kind

Gifts in kind represent assets donated for distribution or use by the Charity. Assets given for distribution are recognised as income only when distributed. Assets given for use by the charity are recognised when receivable. Gifts in kind are valued at the amount actually realised from the disposal of the assets or at the price the charity would otherwise have paid for the assets.

Grants

Grants are recognised in full in the statement of financial activities in the year in which the Charity has entitlement to the income, the amount of income receivable can be measured reliably and there is probability of receipt.

Income from charitable activities

Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods are provided.

20

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (continued)

Investment income

Investment income is recognised on a receivable basis once the amounts can be measured reliably.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Expenditure allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time attributable to each activity.

Allocation of costs

Staff costs are allocated between direct charitable expenditure and support costs based on the time spent on these activities. Other costs are allocated directly to the relevant heading.

Fixed assets

Fixed assets are stated at cost or deemed cost (donated valuation at estimated fair value) less accumulated depreciation and impairment losses.

Depreciation is calculated to write off the costs of the fixed asset by equal instalments as follows, all straight line: Office equipment 25% Security and fire safety equipment 20% Fixtures and fittings 20% Kitchen fittings 10%

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instrument. Basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. Basic financial instruments are initially recognized at transaction value and subsequently measured at their settlement value. The basic financial instruments are accounted for on the following basis:

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

21

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES (continued)

Funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity.

Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.

Employee benefits

Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Employee termination benefits

Termination benefits are accounted for on an accrual basis and in line with FRS 102.

Pension scheme

Women@thewell operate a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of women@thewell in an independently administered fund. The pensions costs charged in the financial statements represent the contributions payable during the year.

2. DONATIONS AND LEGACIES

General donations

2021 2020
Total Total
£ £
63,898 18,842
======== ========

19

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

3. INCOME FROM CHARITABLE ACTIVITIES 2021 2020
£ £
IOLM Rental income 33,240 27,843
Grants
IOLM 180,000 180,000
St Andrews Holborn - 16,500
City Bridge 9,750 38,750
Local substantially fund - -
Tampon tax - -
Big Lottery women and girls 63,857 127,714
Henry Smith - -
MOPAC - 17,398
Sisters Holy Cross - 10,000
Porticus Social teaching - -
Lloyds Bank Foundation 24,797 24,998
Paul Hamlyn 65,000 40,000
Charlotte Marshall - 1,039
Reaching Communities - 22,075
Charles Plater 3,602 14,409
Francis Crick - -
Tudor Trust - -
Ashden Trust - -
Kew Garden - -
Tampon tax Well-being - -
Holly Child Christ - 25,000
Homeless Link - 40,000
Homeless Link Cold Weather Fund 20,630 13,405
Homeless Link December Fund - 19,370
Camden KC Large Fund - 10,000
VSF Fund - 4,000
Blue Tred - 10,000
Comic Relief 1 15,000 30,000
London Community Fund - 21,640
Comic Relief 2 - 23,462
Smallwood Trust - 26,315
Tudor Trust 2,000 -
------------------- -------------------
417,876 743,917
========= =========

19

women@thewell

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

4. ANALYSIS OF CHARITABLE EXPENDITURE 2021

Direct Direct
Costs - Costs - Support 2021
Staff Other Costs Total
£ £ £ £
Project 1 – Basic Needs 19,808 11,731 - 31,539
Project 2 – Support & Advocacy 124,486 11,128 - 135,614
Project 3 – Life Skills - 1020 - 1019
Project 4 – Health & Wellbeing - - - -
Project 8 – Outreach support 111,466 20,771 - 132,236
Project 9 – Exiting & ISAV 71,417 3,535 - 74,951
Project 10 - 13,974 - - 13,974
Core costs 134,703 5,914 94,866 235,483
------------------ --------------- ------------------ ------------------
475,854 54,098 94,866 624,819
======== ======= ======== ========
ANALYSIS OF CHARITABLE EXPENDITURE 2020
Direct Direct
Costs - Costs - Support 2020
Staff Other Costs Total
£ £ £ £
Project 1 – Basic Needs 94,860 23,402 - 118,262
Project 2 – Support & Advocacy 166,355 11,617 - 177,972
Project 3 – Life Skills - 3,017 - 3,017
Project 4 – Health & Wellbeing - 2,195 - 2,195
Project 8 – Outreach support 71,091 46,084 - 117,175
Project 9 – Exiting & ISAV 60,985 10,125 - 71,110
Core costs 55,896 1,306 - 57,202
76,987 5,543 83,205 165,735
------------------ --------------- ------------------ ------------------
526,175 103,288 83,205 712,669

5. ANALYSIS OF SUPPORT COSTS 2021

General 2021
Support Governance Total
£ £
Volunteer costs - - -
General office 75,862 - 75,862
Legal and professional fees 6,612 - 6,612
Governance costs - 12,392 12,392
------------------ ------------------ ------------------
82,474 12,392 94,866
========= ======== ========

20

women@thewell

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

ANALYSIS OF SUPPORT COSTS 2020
General 2020
Support Governance Total
£ £
Volunteer costs 873 - 873
General office 70,035 - 70,035
Legal and professional fees 1,522 - 1,522
Governance costs - 10,775 10,775
------------------ ------------------ ------------------
72,430 10,755 83,205
========= ======== ========
6. GOVERNANCE COSTS INCLUDE: 2021 2020
£ £
Trustee membership and
subscriptions 2,672 2,855
Trustee expenses - -
Auditor’s remuneration:
Audit work – fee for year 9,720 7,920
Under provision from prior year - -
---------------- ----------------
12,392 10,775
======= =======
7. NET INCOME FOR THE YEAR 2021 2020
£ £
This is stated after charging
Auditors remuneration (including VAT):
Audit 9,720 7,920
Depreciation 5,169 7,071
======= =======

Expenses were reimbursed to no trustees in the current year in relation to travel totalling £nil (2020: £nil).

8. STAFF COSTS AND NUMBERS 2021 2020
£ £
Staff costs were as follows:
Salaries and wages 417,027 461,514
Social security costs 37,579 44,381
Pension contributions 21,249 20,280
------------------- -------------------
475,855 526,175
========== ==========

1 employee earned between £60,000 - £70,000 (2020:1).

The total employee benefits of the key management personnel of the Charity were £128,400 (2020: £128,891).

The key management personnel of the charity are considered to be the Chief Executive Office and Head of Services.

21

women@thewell

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2020
Number Number
The average number of employees during the year was as follows:
Charitable activities 14 15
Support - -
------------ ------------
14 15
====== ======
9. FIXED ASSETS
Security & Office Furniture,
fire safety equipment fittings & Kitchen
equipment equipment fittings Total
£ £ £ £ £
Cost
At 1 January 2021 14,960 41,407 29,167 29,532 115,066
Additions - - - - -
------------------- ---------------- -------------------- ----------------- -----------------
Balance at 31 December 14,960 41,407 29,167 29,532 115,066
2021
------------------- ---------------- -------------------- ----------------- -----------------
Accumulated
depreciation
At 1 January 2021 14,960 33,113 29,167 29,532 106,771
Charge for the year - 5,169 - - 5,169
------------------- ---------------- -------------------- ----------------- -------------
Balance at 31 December 14,960 38,282 29,167 29,532 111,940
2021
------------------- ---------------- -------------------- ------------------ -------------
Net Book Value
As at 31 December 2021 - 3,125 - - 3,125
========= ========= ========= ======== ========
As at 31 December 2020 - 8,295 - - 8,295
10. DEBTORS: amounts falling due within one year 2021 2020
£ £
Prepayments & accrued income 20,307 23,486
Other debtors 12,976 7,453
----------------- -----------------
33,283 30,939
======== ========
11. CREDITORS: amounts falling due within one year 2021 2020
£ £
Trade creditors 7,629 6,893
Other creditors 4,534 3,644
Accruals and deferred income 65,298 72,937
OTSS 14,683 9,394
----------------- -----------------
92,144 92,868
======== ========

22

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

DEFERRED INCOME
Balance as at 1 January 2021 63,857 103,857
Amounts released to income (63,857) (103,857)
Amounts deferred in period 45,000 63,857
----------------- -----------------
Balance as at 31 December 2021 45,000 63,857
======== ========
Deferred income relates to project income received in advance which
will be released for spending on those projects in 2021.
12. FINANCIAL INSTRUMENTS 2021 2020
£ £
Financial assets measured at amortised cost (other debtors and cash) 158,337 320,152
======== ========
Financial liabilities measured at amortised cost (trade creditors and
other creditors) 12,163 10,537
======== ========
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted General Total
2021 Funds Funds Funds
£ £ £
Fixed assets - 3,126 3,126
Current assets 3,386 175,260 178,646
Current liabilities - (92,144) (92,144)
----------------------- -------------------- ---------------------
Net assets at 31 December 2021 3,386 86,242 89,628
========== ========= =========
ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted General Total
2020 Funds Funds Funds
£ £ £
Fixed assets - 8,295 8,295
Current assets 77,762 265,876 343,638
Current liabilities - (92,868) (92,868)
----------------------- -------------------- ---------------------
Net assets at 31 December 2020 77,762 163,409 259,066
========== ========= =========

23

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

14. ANALYSIS OF FUNDS Balance Balance
1 January Income Expenditure Transfers 31 December
2021 2021
£ £ £ £ £
General funds 173,409 348,232 425,003 (10,396) 86,242
Restricted funds
Project 2 – Support & Advocacy
St Andrews of Holborn 16,500 - 16,500 - -
City Bridge Trust - 9,750 9,750 - -
Charles Plater - 3,602 3,602 - -
Society of Holy Child Jesus 18,052 - 18,052 - -
Lloyds - 24,797 24,797 - -
VSF Fund 3,000 - 3,000 - -
Comic Relief 1 - 15,000 15,000 - -
London Community Fund - - - - -
Comic Relief 2 - - - - -
Smallwood Trust 16,964 - 24,859 7,895 -
Homeless Link December Fund 17,896 20,630 38,526 - -
Project 3 – Transition & Life
Skills
Kew Garden 885 - - - 885
Project 8 – Outreach Support
Women and Girls Big Lottery - 63,857 66,358 2,501 -
Project 9 – Exiting & ISVA
Henry Smith - - - - -
MOPAC - - - - -
Porticus Research 9,858 - 9,858 - -
Tudor Trust - 2,000 2,000 - -
Ashden Trust - - - - -
Overall Services Support
Funding
Women and Girls Big Lottery 2,501 - - - 2,501
Donation - - - - -
` Core Costs/ Project 1 – Basic
needs
St. Andrews Holborn - - - - -
Charlotte Marshall Trust - - - - -
Reaching Communities - - - - -
Homeless Link Cold Weather - - - - -
Fund
Camden KX Large Fund - - - - -
------------------ ------------------ ------------------ ------------------ ------------------
Charity total 259,065 487,868 657,305 - 89,628
======== ======== ======== ======== ========

24

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Designated fund

There have been no designated funds during the 12 months January to December 2021.

Restricted funds towards Projects

Project 2: Support & Advocacy

City Bridge Trust granted women@thewell a further two years funding totalling to £77,000. The grant has been allocated towards the salary costs of an Advocacy Support Worker and the running costs of our life skills programme for women. The £9,750 received in 2021 was fully expended for that purpose.

. Society of Holy Child Jesus gave a grant to women@thewell, towards the salary of the Advocacy and Support Services Manager. The amount was received in July 2020 and £18,052 of it is carried forward to 2021 and fully spent.

Lloyds has granted us a three year grant to support our Volunteer Coordinator post. The annual instalment of £24,797 was received and expended in full in 2021.

Small Wood Trust granted an amount to W@W to support women affected by the difficult conditions caused by Covid 19, the sum was spent in full in 2021.

Project 3 – Transition & Life Skills

Homeless link Fund- the charity was awarded funding to support clients affected by difficult condition caused by the pandemic. The brought forward balance from 2020 and the newly received amount of £20,630 was fully spent in 2021.

St. Andrew Holborn Group of Charities provided £16,456 funding in 2020 as a contribution to the cost of a support worker’ salary and costs. The grant was received in 2020 and fully expended in 2021.

Project 8: Outreach Support

Big Lottery - Women and Girls: In March 2016 the charity won a five-year funding bid worth £638,570 from the Big Lottery – Women and Girls fund. The project which run until June 2021 and aimed to provide Outreach Support to women whose lives are affected by prostitution including women who have been trafficked or are otherwise at risk. This service was delivered by a Team Leader and two Support Team members. In 2021 the charity received £63,857 which was fully expended in the year.

25

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

14. ANALYSIS OF FUNDS Balance Balance
1 January Income Expenditure Transfers 31 December
2020 2020
£ £ £ £ £
General funds 128,236 340,249 (295,076) - 173,409
Restricted funds
Project 2 – Support & Advocacy
St Andrews of Holborn - 16,500 - - 16,500
City Bridge Trust - 38,750 (38,750) - -
Charles Plater - 14,409 (14,409) - -
Society of Holy Child Jesus 23,665 25,000 (30,612) - 18,052
Lloyds - 24,998 (24,998) - -
VSF Fund - 4,000 (1,000) - 3,000
Comic Relief 1 - 30,000 (30,000) - -
London Community Fund - 21,640 (21,640) - -
Comic Relief 2 - 23,461 (23,461) - -
Smallwood Trust - 26,315 (9,351) - 16,964
Homeless Link December Fund - 19,370 (1,474) - 17,896
Project 3 – Transition & Life
Skills
Kew Garden 885 - - - 885
Project 8 – Outreach Support
Women and Girls Big Lottery - 127,714 (127,714) - -
Project 9 – Exiting & ISVA
Henry Smith 10,807 - (10,807) - -
MOPAC - 17,398 (17,398) - -
Porticus Research 16,290 - (6,432) - 9,858
Tudor Trust 33,357 - (33,357) - -
Ashden Trust 10,512 - (10,512) - -
` Overall Services Support
Funding
Women and Girls Big Lottery 3,551 (1,050) 2,501
Donation -
Core Costs/ Project 1 – Basic
needs
St. Andrews Holborn 7,767 - (7,767) - -
Charlotte Marshall Trust - 1,039 (1,039) - -
Reaching Communities 2,641 22,075 (24,716) - -
Homeless Link Cold Weather - 13,405 (13,405) - -
Fund
Camden KX Large Fund - 10,000 (10,000) - -
------------------ ------------------ ------------------ ------------------ ------------------
Charity total 237,711 776,323 (754,968) - 259,065
======== ======== ======== ======== ========

26

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

15. TAXATION

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purpose. The charity is not exempt from VAT which is included with the expenses to which it relates on the Statement of Financial Activities.

16. RECONCILIATION OF NET INCOME TO NET CASH INFLOW FROM OPERATING ACTIVITIES

2021 2020
£ £
Net income/(expenditure) for the year (169,437) 21,354
Add back depreciation charge 5,169 7,071
Deduct interest income shown in investing activities (12) (714)
(Increase)/decrease in debtors (2,344) 13,046
(Decrease)/increase in creditors (724) (19,680)
----------------------
Net cash (used in)/provided by operating activities (167,348) 21,077
========== ==========

17. RELATED PARTY TRANSACTIONS

There were no other outstanding balances with related parties as at 31 December 2021 (2020: £nil). The total amount of donations received from trustees in the year was £nil (2020: £Nil).

The charity has three organisations with which it has a particular relationship; the Institute of Our Lady of Mercy IOLM), the National Board of Catholic Women (NBCW) and Anglia Ruskin University. Both IOLM and the NBCW have nomination rights to the Management Committee.

women@thewell has regularly taken students from the Masters Social Work programme from Anglia Ruskin University and have recently entered into an additional working partnership with them to carry out a monitoring and evaluation review of our Outreach Project funded by the Big Lottery. The Chair of the Trustees (Kathryn Hodges) was Head of Department, Social Care at Anglia Ruskin University Until August 2020.

During the year, women@thewell received unrestricted grants totalling £180,000 (2020: £180,000) from IOLM. Lynda Dearlove (rsm,) CEO of women@thewell is also a Member of IOLM and therefore as a member of a religious order, and in accordance with her vows, her salary was in effect repaid to IOLM. The landlord of the property from which women@thewell operates is IOLM and the leasing agreement for the property involves a ten year rent free period for both sides, with a service charging facility in place that is worked out by area and usage. During the year, women@thewell received rental income amounting to £33,240 (2020: £27,843) from the Institute of Our Lady of Mercy.

27

women@thewell NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

18. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (2020)

Unrestricted Restricted Total
Funds Funds 2020
Notes £ £ £
INCOME ON:
Donations and legacies 2 18,842 - 18,842
Charitable activities
Grants 3 307,843 436,074 743,917
Fundraising activities 3,380 - 3,380
Investments 714 - 714
Other 9,470 - 9,470
--------------------- ---------------- ---------------------
Total income 340,249 436,074 776,323
EXPENDITURE FROM:
Raising funds
Fundraising and promotional costs 36,032 6,268 42,300
Charitable activities
Project costs 4-6 259,044 453,624 712,669
--------------------- ---------------- ---------------------
Total expenditure 295,076 459,893 754,968
-------------------- -------------------- --------------------
Net movement in funds 7 45,173 (28,819) 21,354
Funds brought forward 128,236 109,475 237,711
-------------------- -------------------- --------------------
Funds at 31 December 2020 173,409 85,656 259,065
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