Docuslgn Envdope ID.. 5881833&9)D248CA-811F.77D1D2TT8CDF Regi$tered numbor: 07034145 Charity number: 1135625 VITAL VOICES EUROPE LTD (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
Docuslgn Envelope ID.. 5881B33WD248CA411F-77D1D2778CDF VITAL VOICES EUROPE LTD IA Cornpany Limited by Guaranlge} CONTENTS Page Reference and admlnlstratl¥e dètalls of the ChaTIty. Its Trust5 and advlse Trusto8s' report Indopendont examlnerfs report statement of flnanclal a¢vItIeS Balanc& Sheet 10 Not•s to the flnancial statements
D0J&gn Envelope ID.. 58813)D248GA-811F_77D1D27T8C0F VITAL VOICES EUROPE LTD IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2020 Trustees Kay El Consofver, Company secretary, bas&Y in USA Sagrario Isabel Maceira Villaverde (de Rosen}. Coihair & Treasurer, based in England Susan Ann Davis. fomier Chair of Vrtal VoitEs Gbal Partnership. based in USA Mary Hamey. based in Ireland (resigned 24 April 2020) Norah Colette Casey, based in Ireland Aleksandra Gren. based in Poland Atyse Cdeèn Ndson, CEO ofvrtal Voices Global Partngrship. ba50d in USA J6nnrfer Mary Tayknr. C¢>Chair. based in England Silje Christine Auguslson. bawy in Swrtzertand Rory ThLwnas Tobin. based in Englantj Company reglstèrod number 07034145 Charlty r•glster•d numbgr 1135625 Roglstored offlco Palladium Hous 14 Argyll Streel London W1F7LD Indendent examln•r Russell Tenzer FCA BIKk Rothenberg Limited Chartered Accounlanls Palladium House 1- 4 Ary1 Slregt London W1F 7LD Bankèr* HSBC Bank Pl 28 Borough High Street London SE1 1YB Page 1
DowSvJn Envew ID.. 5881B33WD248CA411F_TID102778CDF TALVOICES EUROPE LTD IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020 The Trustees present their annual report together wilh the financial statements of the Vrtal Voices Europe Ltd for the year from 1 October 2019 10 30 September 2020. The Annual Report serves the purposes of both Trustees, report and a directors, report under company kny. The Trustees confimi that the Annual Report and financial slalements of the charrtabie company cornp wrth the current statutory requirements, the rgquiremenls of the charitable companys governing document and the provisions of the Stslement of Recommended Practice ISORPI applicablè to charities pparIng their accounts in accordance with the Financial Reporting Standard applublo in tha UK and Republ of Irgland IFRS102) (effective 1 jUary 20191. Since the Chanty qualrfies as small under section 382 of the Companies Act 2008, the Strategic Report required ' of medium and large companies under the Compan$ Act 2006 Istratogic Report and Dlrectors, Reporti Regulations 2013 has been omitted. Objectfvos and actlvltlej Pollcles and objectlves The primary misslon of Vrtal Voicts Europe is lo build 8waren6ss of and support the mi88ion and w5i0n ol Vital Voices Global Partnership, hlènlfying. investing and bringing visibilty lo emerging women aderS in the areas of human rights, economic empowemienl and public and politscal laadership, in order lo transform liv08 and a¢¢elgrale peace and prosperty in their communities. This is achieved by.. Build partnerships wth local indNKluals, organisations. foundat&)ns and corporation8 that arè active both locally and globally Raise awareness for the importance of wom6n's leadership and issues affecting women and girls worfdwlde. Raise the tredibilty and recognition of Vrtal Voices and rts Global Leadership Network of 18,000+ women, building a pt8ffomi Io showcase the sl¢yl8s of women'sloadership and the impact of Invgstsng in women and girts Raise funds for Vrtal Voices to support muttiple and long4enn inveslmenls in the Global Leadar¥hip Nehvo En9age 1ndNJal 8UPPQrters and adviKales through events, mentoring opportunrties. and pro&ono resources In setting objectives and planning for activit5, the TnJslees have gNen due consideratn lo general guidance published by the Charity Commission rekling lo public bonefil, induding the guidaneè 'PLbblic benefit., running charity {PB21'. b. Strateg1•8 for a¢hlgvlng obJectlv8¥ The TNsteès have paid due regard lo guidance issued by tho Charity Commission in deciding what aclNitie$ the Foundation should undertake. Page 2
DOcuSn EnvaloFe ID.. 5881833&9OD2-48CM11F-77D1D2718CDF VITAL VOICES EUROPE LTD {A Company Llmlted by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2020 Objectives and activlti&s Icontinuod) c. ActlvStles undertaken to achlev• objectlves The focus of Vit81 Voices Europe Board during the fiscal year to 30 Seplember 2020 has been on expanding the visibility and increasirkg the awareness of Wital Voices Glob81 Partnership and Vrtal Voi¢e5 Europe by.. W Europe Fall Gathering CIKhair Jennrfer Tafvr hosted a gathering of the participants of tho 2019 London Mentoring Walk in Odober 2019. with over 150 par.elpsnlS in attendance. The speaker of the event was board member Norah Casey. Global Ambassadors Programme in Paris - this programme teLJk plle in October 2019. Board Member Norah Casey was one of the mentors and several olhei members of the W Europe l)oard and 18odership counol attended one of the s¢ssions. lollwd by a dinner. W Europe Dinnèr for SheEO- On Odober 2019, Sagfa Maceira de Rosen and W Europe hosted a dinner for approximalety 40 women in honour of Vicky Saunders, CEO of SheEO. SheEO is a women-only platfomi that Invests in women led ventures that aro addressing at least one of the 17 Su$tsinable Dèvelopment Goals. Al the dinner, Vicky spoke of thg mission and vision of SheEO and ils approach lo supporting women enlrepreneufs. A foll¢)w up event wrth jeweller Jessica M8cComak and Vrtal Voices took place on January 22. 2020 al the boutique in Mayfair. Aty8? Ne180n visit to London - In November 2019 Aty86 Nelson visited London and VV Europe organised 8 series of events, including a breakfast wth the Women of Influence Committee al private memberf8 club Annabor's, a lunch with several London based women4eadors, including Marisa Drew, CEO of Impact and Financing and Credrt Suisse, and dèsKJners Anya Hindmarch and Amanda Wakeley, dinner with W Europe Trustees Sagra Maceira de Rosen and Rory Tobin as wo11 as a large reception at the DVF Mayfair boutiqug, kind hosted by DVF, for the members of the Vrtal Voices Europe Leadership Committeo, including a Q&A with Nina Puslllnik. Membèr of the Leadership Council of W Europe and senior advisor ot Omydiar Foundation. Dèlegation from W Europe to the Vo8$ of Sotidarity Awards 2019 in York - Board member Alek8 Gron and W Europe Loadgrship Council member Aneta Wynrniko attended the Voices of Solidarity Awards Dinner in New York on Decembol 9, 2019. On behaM of Vrtal Voices Europo, Aleks rallied a number of indNkluals to attend and lo ftnancialty support the W Solidarity Awards. Amongst others, Kathleen Murphy, Prosidenl of FKlelty Personal Investing, a Vrtal Voiees U.S. State Department Fortune Mentoring Programme Mentor since the programme'8 inception and number 35 Most Powerful Wornan by Fortune MPW 2019 attended the Awards. Global Mentoring Walks in Europe - W Europe had pLanned lo expand the number of Global Mentoring Walks hosted in Europe in the Spring of 2020, including inaugural walks in some important European cities such as Dublin, Paris. Athens, Milan and Madnd. Due lo Cowd-19 many of them had to be postponed and evenlualty eancelled. The mentoring Walks that t¢)ok place in March 2020 ineluded inaugural mentoring walks in Madrid, Dublin and Palma de Mallor, as well as ed((ions of the popular Walks of Ibvza and Copenhagen. Other inaugural walks in major Eurcyean cities that had been planned (Paris, Milan, Athens, Zurich, Oslol as well as the addit)n of the London. Bareelona. St¢xkholm. Verbier, walks had to be cancg119d. Page 3
DocL&ggn En¥eW ID.. 5681833&9OD248CM11F.77D1D27T8CDF VITAL VOICES EUROPE LTD IA Company Llmlted by Guarnntee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2020 Objectives and actlvlties (contlnued) Vrtal Voices Social Impact Venture Capital Fund - During the year 2020 W Europe undertook preliminary work lo delemiine the feasibilty of launching an investment vehicle lo further support the social entrepreneurs in the Vrtal Voices programmes. in addrtion lo other women4ed businesses globally and wf(h the additional aim to contribute to Vrt81 Voices funding. This project, led by Sagra Maceira de Rosen and European Leadership Council members Nina Puslilnik and Charlotte Broadbenl, has been pul on hold for the lime being. 2020 saw ongoing contact, conversatKJns and inlrtx4uclions regarding Vital Voices Global Partnership. Vital Voices Europe and its programs wrth various leadin9 eorporalions and institutions in Europe. During the year 2020, W Europe continued to slrgngthen their relationships with various suppgrter$ and established nèw relationships with Europgan corporates. which resulted on a signtficant increase in donations. Thos& included Fidelty Inlemalional, Terra Fimia, Credit Suisso, Under Amiour, Ibvza Rel¥eats, Unilever, Salesforce, Lloyds Bank, Indilex, CITCO, Sanlander A5sel Managemenl, C8ixaBank. Malhesorts, among others. Achlev•m8nts and pèrfomiance a. Fundralslng Efforts 2020 Durtng the Fiscal 2020 year, the ftJndr8ising efforts by the board havè begn gxpanded from Fiscal 2019 ygar for a totsl amount of £52,320 compared lo £30.098 in FY2019 and lo £14,740 in FY2018. Corporate donali¢)ns more than doubled in 2020 and am¢wnted lo £49.431 (v8 £22,000 ¥hievad in FY20191, a$ per the bebw detail.. Terra Fima Capital Partners.. £10,000 Crodit Suisse UK. £10,000 Credit Suisse Switzerfand.. CHF 3.000 lapproximatety £2.0001 Unilever. £3,000 Malheson.. Eur S,0) lapproximalety £4,500) CaixaBank'. Eur 22,000 (apprornatety £19.8LK)I Private donations during the year amunted to £135. ' b. Expensos Tho bulk of the expenses of W Europ81£35.829) related to pledges that were agreed bdore the year end lo vrtal Voices Global Partnership as well as funding the European Mentoring Walks, some of which t¢)ok place and some of which had lo be nCelled. In adTtion. there werg adminislralNe and aoUnting expenses. including the Independent rewow of the Accounts by Blick Rothenberg. Expenses related to Rai&ng Funds". £1.271 Exp9nses relating to Vrt81 Voices Gh)bal Partnership". £25,149 Expenses related to Charrtable A¢tiwlies.' This induded expenses lated to supporting the European Mentoring Walks in Madrid, Copenhagen, Dublin a5 well as exFenses related lo supporting the European Mentoring Walks as a result of Covid-19.' £6,351 Expenses related to AdministratiC and Govemance.- £3,058 (including £2,000 for aceounlancy and Independent Financial rewe•V by the accounting firyn BIKk Rothenberg) and bank and payment fees, legal fees and other sundry costs. Page 4
Doujslgn En¥*lope ID: 5881B33WD248CA-811F-77D1D2778CDF VITAL VOICES EUROPE LTD IA Company Limited by Guaranto91 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2020 Achlovemonts and performance (continued) c. Soclal Medla During the year to September 2020, the Instagram account of Vrtal vo$ Europe was relaunched by Sophie Caul¢utt. Vital Voices Europe social media accounts are". Instsgram.. vita1v0eseUrope Facebook.. @WitaWoicesUnitedKingdom Flnanclal rovlgw . Golng concern The Trustees have considèred whether Ihg charity has been impacted by the 8con¢JmiG impact and roslriction8 that have ensued following the Coronawrus pandemic that has emerged during the financial period. Havlng considered the impact and making enquiries, the Trustees have a reasonable expectation that the Charity ha5 adequatè resources to continue in operational existence and meet rts liabilrties as they fall due for the foresegable future, being a period of at least e1ve months from the date these financial slal8ments were approved. Accordingty, they continue lo adopt the going concem basis in preparing the financial slalemenls. b. R6sèrv•s poll The Charity does not have any polw for rese05. The Trusteès ¢on$idor that they 11 be able to continue the charity's current activrties reserves at their current lev$l. The charity has no employees or meaningful fixed costs and all fundraising 15 destined to fund programmgs for our beneficiaries or donated to Vital Voices Global Partnership. c. Flnanclal rfsk managom•nt objectlvos and pollcles The Tru8te8s havè assgssed the major risks lo whh the Charity 18 exposed, in particular tho$9 related lo Ihg operations and finances of the Foundation. and are salisfied that systems and prlxedures are in pla¢9 10 mitigate oxposure lo the major risks. Structure. govorn•nce and managgmgnt a. Constttutlon Vrtal Voices Europe Lld is lStered as a charitable company limiied by guarantee and was 8et up by a Memorandum of Association dated 29 Septembef 2009. Page 5
Do¢uSyn ED¥elope ID.. 5681833WD248CA-811F-7TD1D2778CDF VITAL VOICES EUROPE LTD IA Company Limited by Guaranteg) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEM8ER 2020 Structur•. govemance and managamont (contlnuedl b. Methods of appolntmant or electlon of Truste0S The management of the Charity is the responsibility of the Trustees who are 6cted and wpled under the lems ol the Memorandum of Association. During the year to Seplenknr 2020, the fdlowng changes to the bo8rd of directors took place.. Mrs Mary Hamey resigned her position as a Trustse and Dirnctor of Vitsl Voths Europe Ltd on 24 Apnl 2020. bringing the numbor of Trust88s lo 9. The Trustees, whom are a180 appointed as Directors. that served in thè year were.. Kay Ellen Consofver, Company secretary, based in USA Sagrario Maeeira Villaverde Ide Rosen), C(FChair & Treasurer, ba¥ed in England Susan Davis. former Chair of Vital Voices Global Partnership, based in USA Norah Casey, based in Irand Aleksandra Gren, based in Poland Alyse Nelson, CEO of Vi(al Voices Global Partnership. based USA Jénnifer Taylor, CTrChair, base(1 in England Siljo Auguslson, based in Switzerfand Rory Tobin, based in England c. Organlsatlonal structur• Tho Foundation was incorporated in Engtand and Wales as a ccmpany limrtad by guarantee on 29 September 2009 under the registered number 07034145. 11 registered as a chanty with Ihg Charty Commission on 21 April 2010, with the registered Gharty nunknr 113562S. The Charity is managed by the Trustees, who are also the directors of the company. Addrtional Trustee8 may b8 appointed by the Trustees and their appointment be raIrf al the Subsequent Annual General Me8ling. Memb•r8' Ilablllty Thè Members of tho Charrty guarantee lo contributg an nOUnt not exceeding £1 to the assels of the Charity In the event of wnding up. Small companles exemptsons In prèparing this report, the Trustees have taken advantage of the Small companies exemptions provided by section 415A of the Companies Aet 2006. Paye 6
DoGuSign Envdope ID.. 5881B3W90D2-48CA-811F-77D1D2778CDF VITAL VOICES EUROPE LTD IA Company Limited by Guarant991 TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2020 ststement of Trustèes. Tesponslbllhles The Trustees (who are also the diredors of th8 Charity for the pury)oses of cc*npany law) are responsible for preparing the Trustees. Report and the financral slalwnents in accordance with applicable law and United Kingdom Accounts'ng Standards {Uni(ed Kingdom Generaty Accepted Aceounting Practice). Company law requires the Trustees lo prepare financial ststemenls for each financial . Under company law, the Trustees must not approve the financial statements un5 they are satisfied that they give a true and fair view of the stsle of affairs of the Charity and of rts incoming resources and application of resources. including r(s incomo and expenditure, for that peiic#J. In preparing these financial statements, the Trustees ar6 required to.. select suitable accounting policies and then appty them consislentjy., observe the melh¢)ds and principles of the Charities SORP IFRS 1021,. make judgments and accounting estimates that are reasonablg and prudent., slate whether applicable UK AcuntIng Standards {FRS 1021 have been folk)wed. subjgd to any material departures disclosed and expkineil in the financial statements., prepare the financial 8talemenls on the going concern basis unloss it is inappropriate lo presume that tho Charty will continuè in busin085. The Trustees are responsib for keeping adeouats accounting records that ala $Lrfficienl lo show and explain the Charity's transaction8 and disclose with rgasonable &curacy 81 any time tho financial position of the Charty and enable them lo ensure that the financi81 statements compty with the Companies Act 2006. They ar8 also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulanknes. Approved by order of the ffthbèrs of the board of Trustees and 86gned on their behalf by.. SagrJrlo Isabel Macelra Vlllayerde {de Ros8n) JonnHer Mary Taylor D819'. 913012021 9/3012021 Page 7
Dowslgn Enwlope ID.. 5881833WD24aCA-81177D1D28CDf VITAL VOICES EUROPE LTD {A Company Lirnited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2020 Indopendont examlnefs report to the Trustoes rtaI Volces Europe Ltd (Ihe ChaTIty'I I report to the charity Trustees on my examination of the accounts of thè Charity for the year ended 30 September 2020. This report is made solety to the charitys trustees. as a b&Jy. in )rdance with Part 4 of the Charitie8 (Accounts and Reports) Regulations 2008. My wotk has been undertaken so that I might slate lo the charity's Trustees those matters l am required to stsle lo them in an Independent Examinerfs Report and for no other purpose. To the fullest extent pemiitted by I, I do not aceept or assume responsibility to anyone other than the ompany and the chartys trustees as a body. for my work or for thi5 report R9spon8lbllltlo$ and basls of report As the Trustees of the Charity land its directors for the purposes of company I) you are responsibl& for the preparation of thè accounts in aecordan¢e with the requirements of the Companies Aet 20061'lhe 2006 Act'i. Hawng satisfied myself that the 8c¢ounls of the Charity are not required lo be audited under Part 16 of the 2UO6 Ad and are eligible for independent examination, I report in respect of my gxaminalion of th8 Charity's accounts carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act'}. In carying out my examination I have followed the Directions given by thè Chanty Commission under section 145{5}Ib} of the 2011 Art. Ind8p8nd•nt axarnlnorfs statgmont I have completed my examination. I confimi that no mattgrs have comg lo my attention In connection with the examination giving me cau861o bali6ve'. accounting rOrdS were not kept in respecl of the Chanty as required by saction 386 of the 2006 Act,. or the accounts do not accord wrth those red$. or the accounts do not Comply with thè aCuntIng requirements of section 396 of the 2006 Ad other than any requirement that the accounts give a Irue and fairf which is not a matter eonsidered as part of an independent examination,. or the accounts have not been prepared In accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by chariti'es lapplicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicablè in the UK and Republic of Ireland {FRS 10211. I have concem8 and have come acrc>SS M Other matters in connection with the examination to which attention should drawn in this report in order to enable a proper understanding of the accounts lo be reachèd. Ltj Signed.. Rus$g11 Tenzer FCA Dated.. 30.09.2021 Bll¢k Rothenberg Llmlted Chartered Accountants Palladium House 1- 4 Argyll Street London W1F7LD Page 8
Do¢xJ&gn Envelcye ID.. 58818350D248CAllF.77D1D2778 VITAL VOICES EUROPE LTD {A Company Llmlted by Guarant) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 SEPTEMBER 2020 Unrestrtcted funds 2020 Total funds 2020 Total funds 2019 Income from: Donations and legaclas 52.320 52,320 30.098 Totsl income ExndItur• on: Raising funds Charitable activitigs 52.320 52,320 30,098 1,271 34,658 1,271 34.558 7,337 43,757 Totsl •xpendltur• 35.829 35,829 51,094 Not movemgnt In funds Reconclllatlon of funds: Total funds brought forward Net movemonl in funds 16,491 16,491 {20.9961 110.8341 16,491 {10,8341 16,491 10.162 120,9961 Total funds carrf•d fomrd 5.667 5.657 110,834) The Statement of financial activrties includes all gains and lo$ses reo)gnised in the year. The notes on pages 11 to 20 fomi part of these financial statements. Page 9
Docuslgn Envelope ID: 5881B33MOD2-48CM11F-77D1D27f8CDF REGISTERED NUMBER.. 07034145 VITAL VOICES EUROPE LTD (A Company Limited by Guarantse} BALANCE SHEET FOR THE YEAR ENDED 30 SEPTEMBER 2020 2020 2019 Current assets Debtors Cash at bank and in hand 11 2,059 41,257 520 43.316 520 Creditors.. amounts falling due wthin on8 year 12 137.6591 (11.3541 Not curr•nt a¥ts l {Ilbllitlo31 5,657 110,8341 Totsl assets Itss current Ilabllltl88 5.657 {10,8341 Not assets l {IlabllStl881 5,657 (10.8341 Total net a88èts 5.6S7 110,8341 Charlty funds Unrestricted funds 13 S,657 {10,8341 Total funds 5,657 110,834) Tha Charity was entitled to 8xèrnption from audit under section 47T of the Companbgs Act 20C6. Tho mombers have not required the ¢ompany to obtsin an audit for the year in queslb?n in 8c¢ordance wrth section 476 of Companies Act 2006. Thé Trustees acknuwledge their respSIbIlitieS for cOMp.ng Wth the requirements of tho Act with respect to accounting records and preparation of financial statements. Th6 finanaal statements have boen prepared in acCoanCe with the provi$H)n$ applicable lo companie$ subject lo the small companies. regime within Part 15 of the Companies Act 20C6 and in accordance with Section 1A of Finanal Reporting Standard 102 The Financial Repth'ng Standard applicable in the UK and Republic of Ireland. pwdstslements wete *proved and authorised for issu and signed on their behaw by. Sagrario sabel Macelra Vlllaverde Ide Rosen) Jennifer Mary Taylor Dalo.. 9/30/2021 The IleS on pages 11 to 20 form part of the¥e financial statements. Page 10
Dow&'gn En%¢)p ID.. 58818338-90D248CA-811F-77DtD2T18CDF VITAL VOICES EUROPE LTD IA Company Limited by Guarnntse) NOTES TO THE FINANCIAL STATEMENTS General Infomiatlon Vttsl Vc)ices Europe Ltd is a charitable cryny limited by guarantee registered in England and Wale8 with company number 1135625. 11 is also a registered at the ChaThtie5 Commission in England and Wales with chanty number 1189683. Its principal address is Palladium House, 14 Argyll Street, London, England. W1 F 7LD. The member5 guarantse is limi(ed to £1 in the event of a wind up of the charty. The financial statements are prgsented in Slerting (£1. Monetary amounts in Ihesg financial slalemenls are rounded to thè nearest £. Accountlng poli¢lfjs 2.1 8a¥ls of preparatlon of financlal stat•ments The financial statemènts have been prepared in accordance with the Charities SORP IFRS 1021- Aceounling and Roporknng by Charities.. Statement of Reeommendod Practice applicablg lo charities prgparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) Isecond edition), the Financial Reporting Standard appIlble in the UK and Republic of Ireland (FRS 102) and the Ccrnpans Act 2006. Vital Voices Europe Ltd meets the definrtion of a public benefrt entity under FRS 102. Assets and liabilities are inr¢kqlly recognised al historical cost or transaction value unless othe1$e slal8d in the r8levant accounting polky. 2.2 Golng concgrn The Trustees have ¢on$hJgred whether th6 ¢harty ha8 been impaetsd by the economi¢ impact and reslriclions that have ensued following the Coronavirus pandemic that has continued since the end of thelost financial year. The Iru51ees are of the opinion that the charity has negligible red recurring overheads. Hawng considered post yearond financial results and cash reserves, the Trustees have a reasonablè expeetation that the Charity has adequate resources lo continue in operational existence and meet its liabilities as they fall due for the forèseeable fvture, being a period of al lea$1 efvg months ftom the dale these financial statements were approved. Thus, the Trustees ¢onlinue lo adopt the going concern basis of accounting in preparing the financial staloments. 2.3 Income All income is recognised once the Charity has entrtrnent lo the income, it is probablg that the income wll be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations r¢¢etvod Ltnder Gfft ATrd or deed8 of eovenanl 18 reco9nised al the lime of the donation. Page11
Do¢uSBJn Enveknpe ID.. 5881B33&90D248CM11F.77D1D2TI8CDF VITAL VOICES EUROPE LTD IA Company Limited by Guarant9•) NOTES TO THE FINANCIAL STATEMENTS Accountin9 policies Iconlinued) 2.4 Expenditure Expenditure is reeognised once there is a legal or constructive obligation lo Ir8nsfer economic benefit to a third paty, it is Probab Ihat a transfer of Korkomic benefits will be requirod in selllemenl and the amount of the obligatn can be measured reliably. Expendriure is classthed by aclwity- The costs of each activty are made up of the lotsl of direct costs and shared costs, including support costs invofved in undertaking each activty. Direct costs attributable lo a single activity are allocated direct to that activity. Shared cosls which contribute to more than one ivty and support costs which are not attributable to a single ivty are apporti¢Jned betsyeen those aclivrties on a basis consistent wrth th6 use of resourwJ. Expendf(ure on raising funds includ8s all expenditure ineurred by the Chanty to raise funds for Its charitable purposes and ilde¥ costs ol dl fundraising actiwtses events and nonwcharilable trading. Expenditure on charitable aclivities is incued on dirgclly undertaking the activf(Yas whlch further the Chaftys objectives, as well as any associated support costs. Grants payable ara charged in the year when the offer is made except in those cases where thè offer is condi(ional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offeied subject lo condrtions which have not been mét at tho ygar end are noted 88 commitment, but not accrued a3 expenditure. All exwIltUre 1$ indusNe of irrecoverable VAT. 2.5 Forolgn curroncle8 Monetary assèts and IBbililYdS denominabl in foreign ujrrencies are translated into sledlng at roles of exchange ruling at the reportiNJ date. Transactions in foreign curTencie8 are translated into sterfing al the rale rullng on the dale of the tran$a¢ts'on. Exchange gains and lossé$ are reccgniwj in the Statement of Financkgl Actswtie8. 2.6 Cash at bank •nd In hand Cash al bank 8nd in harKI indudes cash and 8hort4erm highly liquid investments with a short maturity of three months or bss from the date of wu180 or opening of Ihe deposit or similar account. 1.7 Flnanclal Instruments Th8 Charity has eledgd to appty Sections 11 and 12 of FRS 102 in re8pect of financial inslwmonts. Finanual assets and financial IrabltieS are Twnised when the Charity becomes party to the contractual provis•)ns of thg inslrumgnL Finanoal liabilities are dasyffied according to the substance of the traCtual arrangements entered into. The Charitys pleS for its major dasses of financial assets and financial liabilities are set out below. Page 12
Do¢LIgn Envdope ID.. 5881B33WD2-48CA411F_TID1D2718CDF VITAL VOICES EUROPE LTD IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Accountlng policios Icontlnued} Financlal Instrurn&nts 1cont1nu) Flnancial assets 8asic financial assets, including trade and other debtOTS and cash and bank balance8, are ini118lly rocognised al tiansa¢lion price, unless the arrangement con5tilules a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond nom)al business lenr* or financed al a rala of interosl that is not a market rate. Such assets are Subsequentiy carrigd at amorknsed cost using thè affective interest method. loss any impaimient. Flnancl•l Ilabllltl Basic financial liabilriies, including trad& and other creditors. are initialty recognised al transaction price, unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measuied at the present value of the future payments discounted al a market rala of interest for a similar debt instrument. Financing transactions are those in which payment is deferred b9yond nomal business temis or is financed al a rat6 of inlgrest thal 18 not a market ral8. Debt in$lrumgnts are subsequentty carried al omortised co$1, using the effective intet rale mèth¢xl. Impalmient of financlal assets Financial assets mea8ured at cost and omortised co81 are a8ses88d al the end. of each reporting peri¢Jd for objectiva evidence of impaim)enl. If objedNe evidence of impaimenl is found, an impaimenl loss is recc¥Jnised in the statement of financial activities. For finanGial assets measured at cost less impaimenl, the impaimenl loss is measured as the difference between tho asset's carying wnounl and the best estimate of the amount the cornpany woukl receNe lor the asset rf it wore lo be sold at the reporting date. For financial assets measurod al amortised cost, the impainnent loss is measured as the difference beeen the asset's carry7ng amount and the psent value of estimated cash flows discounted al the asset's original effectNe inleresl rate. If the finanal asset has a variable interest rate, the discount rale for measuring any rnpaim)ent bss 1$ the current effective interest rale detemiined under the ¢onlrad. If there is a decrease in the Impaimient loss arising from an event ¢xcurring after the impaimienl was recognised, the impaiment is reversed. The reversal is such Ihal the current carrying amount does not exceed what the carrying amount woukj have been had the impaimient not previousty been recognised. The impaimienl rever5d is recognised in the stslemenl of financial activities. Page 13
Doujslgn Envelope ID.. S881B33D248Cm1lF_77DlD27T8¢DF VITAL VOICES EUROPE LTD IA Company Limited by Guarantee) NOTES TO ThE FINANCIAL STATEMENTS AccountSng policles {contSnu•d) Flnanclal Instrumonts {continuodl Derecognition of financlal assets and financlal Ilabilitie5 Financial assets are derecognised when {81 the contractual rights to the cash Ilows from the asset expire or are settled. or Ib} substsnlially all the risk$ and rewards of the ownership of the asset are transferred lo another party or Icl despite having retained some Significant risks and rewards of ownership. control of the asset has been transferred to another paty who has the practical ability to nilateralty 3811 the asset lo an unreL41ed third paty without imposing addf(ional restriction8. Financial liabilrties are deTenISe(j when the fiabilty is extinguished, that is whgn the conlradual obligation is discharged, cancelled or expires. OffsettSng of Ilnanclal assèts and flnanclal Ilabllltles Finanual assets and liabilities are offset and the nel amount raported in the balance sheal when there is an enforceable right lo set off the recognised amunts and there is an intention lo settle on a nel basis or to realise the asset and settle the liabilty simuttaneousty. 2.8 Fund accountlng R¢$lricted fvnds are funds have been given to a ¢haiity lor a particuL8r purpose and ¢an only be spent on that purpose. Unrestricted funds are funds which are available for use al tho discretion of the Trustees in furthorance of Ihe genwal obl'¥e$ of Ihe ¢harity and whi¢h have not been designated for other purposes. No restricted funds havg bgen received. 2.9 Llabllltlos •nd provlslons Liabil((ies are recognised when there is an ¢)bligation at the Balance Shgel date as a losurt of a past event, it is probable that a transfer of economic benefft will be required in settlement, and the amount of the sattlenI can be estimated rgliabty. Liabilities are recognised al the amtyjnt th the Charity anticipates il will pay lo settle the debt or the amount rt has receNed as advanead payThents for the gc)d$ or serwce$ it musl promde. Employees There were no employees during the year (2020 - 0}. No employee received remuneration amounting lo more than £60,000 in the year. Page 14
DoSn Envdope ID.. 5881B33&90D248CA411F-77D1D27T8CDF VITAL VOICES EUROPE LTD {A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Income from donations and legacl8s Unrestri¢ted funds 2020 Totsl funds 2020 Donations 52,320 62.320 52.320 52.320 UnTestrfcted funds 2019 Total funds 2019 Donallons Other fundraising activities 28.958 1.140 28,958 1,140 30,098 30,098 Expendlturo on ralslng funds Ct)sts of rnlslrbg voluntary Incom• Unrnstrfctèd lund$ 2020 Total funds 2020 Costs of raising voluntary income 1.271 1,271 Costs ot ralslng voluntary Incomè (contlnued) Unrestricted fijnds 2019 Total fund8 2019 Co$ls of raising voluntary income 7,337 7,337 Page 15
Docusign Envelope ID". 5881B33WD248CA411F.77D1D27T8CDF VITALVOICES EUROPE LTD IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS Analysls of grants Grants to Institutions 2020 Total funds 2020 Total fiJnds 2019 Grant funding of activities 25,149 25.149 The Charity has made the following material grants to inslrtutions during the year. Nam6 of Instltutlon 2020 2019 Vital Voices Global Partnershrp Vital Vol8 Headquarters 19,345 6,804 25,149 Anaty#S8 of oxpondlturo on ch•rltabl8 actlvltb•s Summary by fund type Unrestrl¢l•d funds 2020 Total funds 2020 Direct CO8ts of Charrtab actNit 34,558 34,558 Unrestricted fund8 2019 Total funds 2019 Direct costs of charitable actNiI 43,757 43.757 Pag8 16
Docustgn Envelope ID." 5B81B3Wg)D248CA411F-77DID2778CDF VITAL VOICES EUROPE LTD IA Company Llmited by Guaranteo) NOTES TO THE FINANCIAL STATEMENTS Analysls of expendlturn by acllvhles Activities undertaken dlrecty 2020 Grant funding of a¢tivltl6s 2020 Support costs 2020 Totsl funds 2020 Direct costs of charitable adivities 6,351 25,149 3.058 34,568 Activitie5 undertaken dirertty 2019 Support costs 2019 Total funds 2019 Direct Costs of charitable activikn'es 41,241 2,516 43,757 Anatysl¥ of support costs Total funds 2020 Actlvltl 2020 L8901 fees Other support costs Bank charges Indepondenl examinerfs fees 583 845 30 1,600 30 1,600 3,058 3,058 Total Jnds 2019 Activities 2019 Bank charges Ind8pgndenl examiners f 116 2.400 116 2.400 2,516 2,516 Page17
Docusign Envdope ID.. S881B330DZ-48CA-8llF-7FDlD27T8c0F VITAL VOICES EUROPE LTD {A Cornpany Limited by Guarant88) NOTES TO THE FINANCIAL STATEMENTS Independent examlngrfs romunerallon The independent examinerfs remunerali¢)n amounts to an independent examiner feè of £2,00012019 - £2,000). The balanca is indusNe ofVAT. 10. Trustegs. rgmuneratlon and oxpenses During the year. no Trustees reeeNed any remuneration or other beneffts12019- £NILI. During the year ended 30 September 2020, no Trustee expenses have been incurr8d (2019- £NILI. 11. Debtors 2020 2019 Dug thIn one year Other debtors 2.059 2.059 12. Credltorn: Amounts falllng du• wlthln one yr 2020 2019 other creditors Accruals and deferred income Grants accrued - institutional 9,927 2.583 25.149 8,954 2,400 37,859 11,354 Page 18
Docusign Envely10'. 5881B3WgOD248CM11F.77D1D2778cDF VITAL VOICES EUROPE LTD IA Company Limitsd by Guarantee} NOTES TO THE FINANCIAL STATEMENTS 13. Statement of funds Statèment of funds - current year Balance at 30 Sgptemb8r 2020 Balance at 1 October 2019 Income Expendlturg Unre¥trlctfjd funds General Fund8 (10,8341 52,320 (35.8291 6.657 Statement of funds- prlor yèar Balance al 30 September 2019 Balance at 1 October 2018 Income Expendilure UnrèstrfGted lunds General Funds 10.162 30,098 {51,094) 110.8341 Page19
Docus Enveh)pe ID.. 5881B33WJD248CA*11R77D1D2TI8CDF VITAL VOICES EUROPE LTD A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS 14. Anatysls of net assèts tween funds Analysls of net assets b8tween lunds- current perfod Unrestrlcted funds 2020 Total funds 2020 Clrrrenl assets Credrfcors due wthin one year 43,316 137,6591 43.316 137.6S9) Total 5,657 5,657 Analy$l¥ of not assets betweèn funds- prlor porlod Unrestricted lunds 2019 Tol81 funds 2019 Current 888éts Creditors due within one year 520 111,3541 520 111,354} Total 110,8341 110,8341 15. Relatsd party transactlon8 The company has taken advantage of Ihe exemption contained in FRS 102 section 33 "Related Paty Disclosures" from disclosing transactions wrth entities which are a wholty owned part of th8 group. Transactions with lolher) related parties are as folltr•.. Rglatlonshlp Amount due Itoyfrom. relat&d parties 2020 Transactlon 2019 Trusteo Loan account {8,9541 18,954} Amounts owed to related parties ate unsecured. interest free and due for repaent within one year. Page 20