EXCEL WOMEN'S ASSOCIATION
(Limited by Guarantee)
Report and financial statements
For the year ended
31 March 2021
COMPANY NO.: 06934326 CHARITY NO.: 1 144357
EXCEL WOMEN'S ASSOCIATION
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2021
| Legal and Administrative details Directors’ Report Independent examiner’s report Statement of Financial Activities Balance Sheet Notes to the Financial Statements |
Page 1 2 - 4 5 6 7 8-14 |
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EXCEL WOMEN'S ASSOCIATION
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2021
Directors & Trustees:
Fatima Asker- Chair Rhoda Ashur- Secretary Fatha Ali Rukayat Suleman Amina Aden Company Secretary: Rhoda Ashur Registered Office: 13 London Road, Barking, Essex IG11 8AA Independent Examiner: Fidelia Igbodo FCCA Bennic Ltd Chartered Certified Accountants Selby Centre Selby Road Tottenham London N17 8JL
Charity registration number: 1144357
Company registration number:
06934326
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EXCEL WOMEN'S ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
Directors’ report
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31st March 2021. The trustees have undertaken the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in January 2015 in preparing the annual report and financial statements of the charity.
Directors’ responsibilities
Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that year.
In preparing those financial statements, the directors/trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors/trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In accordance with company law, as the company's directors we certify that as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of our responsibilities in record keeping and safeguarding of the charity’s assets.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
Excel Women’s Association is registered charity governed by its Memorandum article of association.
Appointment of trustees
At the annual general meeting all the trustees shall retire from office and at every subsequent annual general meeting one-third of the trustees who are subject to retirement by rotation or, if their number is not three or a multiple of three, the number nearest to one third shall retire from office; but, if there is only one trustee who is subject to retirement by rotation, he/she shall retire.
As set out in the memorandum of association, the chair of the trustees is nominated by Excel Women’s Association, one new or same trustee is elected annually by the members of the charitable company attending the Annual General Meeting and another one to be co-opted.
Trustees induction and training
Management Committee Members receive an induction detailing their responsibilities, Code of Conducts, meeting timetable, awareness of conflict of interest, policies and procedures and declaration forms, CC3 (Responsibilities of Charity Trustees) paper and equal opportunity
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EXCEL WOMEN'S ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
policies. Management Committee Members volunteering for personnel, day to day activities and financial subcommittees.
Induction of new Management Committee members will wherever possible be undertaken by the two most senior office holders and most senior staff members who have already undergone the induction procedure.
Induction of new Management Committee members will wherever possible take place at the Excel Women’s Association offices no later than ten working days after the election of the new Management Committee member.
The new Management Committee member will be introduced to other Management Committee members and Excel Women’s Association employees and volunteers and be given a description of the work each of them undertakes.
The new Management Committee member will be shown round the Excel Women’s Association Premises and offices and will be expected to familiarise themselves with the services provided and who takes the lead in providing those services.
The inductors will provide the new Management Committee member with the following documents:
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The most up to date Charity Commission booklets outlining their roles and responsibilities
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The Memorandum article
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The Policies and Procedures
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The Annual Report and Business Plan
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The minutes of Trustees meetings
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The contact details of all other Management Committee members.
Notes from the Trustees of Excel Women’s Association a year 2020-21
Overview Report
Our mission main mission is to improve the quality of life for women and girls and families, and to promote community cohesion and integration to wider society in Barking and Dagenham and surrounding Boroughs. This year our mission was to provide emergency support for families effected by Covid 19, older people that was shielding and support the children to access education remotely by providing IT equipment access and online support, We have continued to provide practical, social, and educational and community support to those that are living in poverty with digital exclusion, particularly within minority ethnic communities in Barking and Dagenham and surrounding Boroughs.
The trustees have been hands on to support the charity during the pandemic as three of them are in health field sending health messages in multiple community languages as we were desperate people we work with to receive health messages and helping them to navigate government Covid 19 guidelines.
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Trustees have been carrying on ongoing developing governance, financial management and capacity building of the charity.
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We have had increased work on Health and Social wellbeing and training and employability, the chair and secretary are both health professionals and were able to contribute and facilitate some of the work streams and chair sub groups in order to gather the needs of the community and put together action plan of service delivery to meet their needs, and put together health and wellbeing project.
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The trustees also acknowledge we need trustee that can lead financial strategy and bid writing to fundraise the charity as we have lost most of our funding stream.
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EXCEL WOMEN'S ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
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We do not have core funding, the rent needs to be funded by cost recovery of the projects or unrestricted fund as we do not have core funding.
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One of the Trustees need to lead fundraising and identify possible funders and Amina our new trustee is nominated to take this work on.
Excel Women’s Association Trustees Statement
This year we have received multiple funding for Covid 19 emergency support which was much needed in the community, we have prioritised to meet the need the community as a result of Covid19, we have opened Food hub, we have mobilised 30 community volunteers and drivers, we had 20 fielding staff and digital inclusion team to support those that were self-isolation or shielding during the lockdown, The Borough was hardly hit by Covid 19 and we have lost many of our users. Our fundraising is ongoing as we are still in the middle of Covid19 in order to continue to support, we also had community crowdfunding to support young people, we have new Business Plan and Business Model that will enable people to improve their own lives with the help of the association, although our funding increased this year, the demand for our support services also increased due to Covid19.
The charity has rent and revenue to pay for and we have not generated funds from hiring our facilities and training room, so currently we have no core funding, but will be fundraising for it, and to increase reserves and unrestricted funds and to maintenance and improving the premises and office equipment, enhance our digital skills and digital access for women and girls.
We have secured some digital inclusion funds and will be supporting people we work with to access IT training and access to use the internet as digital divides widens during the pandemic. We bought new computers and laptops for remote working during pandemic, most of the charity’s work was face to face, but we had to learn and find new ways of working.
Public Benefit
The trustees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 17 Charities Act 2011. The trustees believe that the charity achieves a public benefit by providing these services as detailed in this report.
Financial Review Reserves
At the year end, the charity had total reserve of £157,878 (2020: £30,576). Of the total reserves £24,226 (2020:£5,577) were unrestricted and £133,653 (2020:£24,999) were restricted reserves.
The trustees believe that necessary funds will be raised as and when required and charity is a going concern. The trustees are in the process of setting up a reserve policy.
We will need to carry on hiring out our facilities to other groups and training providers in order to raise funds. IT suite, Training room and hot desk should raise funds for paying the revenue, and also apply funding to trusts and foundations for projects.
This report was approved by the Excel Women’s Association board on 30/12/2021 and signed on its behalf.
Fatima Asker- Trustee
EFATMA
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EXCEL WOMEN'S ASSOCIATION
(A COMPANY LIMITED BY GUARANTEE)
Independent Examiner’s Report to the Trustees of Excel Women’s Association
For the year ended 31 March 2021
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Fidelia Igbodo FCCA Bennic Ltd Chartered Certified Accountants Selby Centre Selby Road London, N17 8JL
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Excel Women's Association
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2021
| Restricted Note £ £ Income from: Charitable activities Donations and legacies 2 263,680 27,984 Charitable activities 3 Total income 263,680 27,984 Expenditure on: Raising funds 9,485 4,782 Charitable activities 145,542 4,554 Total expenditure 4 155,027 9,336 108,654 18,648 Net movement in funds 108,654 18,648 Reconciliation of funds: Total funds brought forward 24,999 5,577 Total funds carried forward 11 133,653 24,226 Net income / (expenditure) Women Wellbeing Unrestri cted |
Restricted Note £ £ Income from: Charitable activities Donations and legacies 2 263,680 27,984 Charitable activities 3 Total income 263,680 27,984 Expenditure on: Raising funds 9,485 4,782 Charitable activities 145,542 4,554 Total expenditure 4 155,027 9,336 108,654 18,648 Net movement in funds 108,654 18,648 Reconciliation of funds: Total funds brought forward 24,999 5,577 Total funds carried forward 11 133,653 24,226 Net income / (expenditure) Women Wellbeing Unrestri cted |
2021 Total £ 291,664 - |
Restricted £ 77,768 |
Unrestri cted 2020 Total £ £ 5,260 83,028 - |
|---|---|---|---|---|
| 291,664 | 77,768 | 5,260 83,028 |
||
| 14,267 - 150,096 |
2,800 91,302 |
- 2,800 655 91,957 |
||
| 155,027 9,336 |
164,362 | 94,102 | 655 94,757 |
|
| 108,654 18,648 108,654 18,648 24,999 5,577 |
127,302 127,302 30,576 |
(16,334) (16,334) 41,333 |
4,605 (11,730) 4,605 (11,730) 973 42,306 |
|
| 133,653 24,226 |
157,878 | 24,999 | 5,577 30,576 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
The notes on pages 8 to 14 form part of these financial statements.
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Excel Women's Association
| Excel Women's Association | |||
|---|---|---|---|
| Charity No. 1144357 | |||
| Balance sheet | |||
| Company No. 06934326 | |||
| As at 31 March 2021 | |||
| 2021 | 2020 | ||
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | - | - | |
| Current assets | 8 | ||
| Cash at bank and in hand | 160,778 | 32,276 | |
| 160,778 | 32,276 | ||
| Creditors: Amounts falling due within one | 9 Creditors: Amounts falling due within one |
(2,900) | (1,700) |
| Net current assets | 157,878 | 30,576 | |
| Net assets | 11 | 157,878 | 30,576 |
| Funds | 12 | ||
| Restricted funds | 133,653 | 24,999 | |
| Unrestricted funds: | |||
| Designated funds | |||
| General funds | 24,226 | 5,577 | |
| Total funds | 157,878 | 30,576 |
For the period ending 31 March 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Board of Trustees on 30/12/2021 and signed on its behalf by:
Fatima Asker – Chair
.
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Excel Women's Association
Notes to the financial statements
For the year ended 31 March 2021
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (August 2014) and the Companies Act 2006.
Excel Women's Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
b) Going Concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
No key judgements have been made by the charitable company which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c) Income
Income, including income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Grants are credited to incoming resources when they are receivable as the charity's own money, unless they are for activities that relate to a specific future period, in which case they are deferred to that period.
d) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
e) Expenditure and irrecoverable VAT
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:
- Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
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- Expenditure on charitable activities includes the costs of training, events, capacity building and business mentoring undertaken to further the purposes of the charity and their associated support costs.
f) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4.
g) 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.
h) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
i) 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.
2 Income from . donations and legacies
| Big Lottery Fund Trust for London Barking & Dagenham City Bridge Trust The London Community Lloyds Bank Foundation Groundworks BBC CiN Rosa UK |
Restricted Unrestricted 2021 2,020 Total Total £ £ £ £ 85,843.00 85,843 28,368 10,000 10,000 - 26,800 26,800 - 44,741 44,741 - 51,020 51,020 - 24,226 24,226 - 11,150 11,150 9,900 9,900 4,950 - - 4,800 |
|---|---|
| 263,680 - 263,680 38,118 |
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3. Income from charitable activities
| Income from charitable activities |
|
|---|---|
| Lifeline Community BSBT Home Office London Sport Other Income Donations |
Restricted Unrestricted 2021 2020 Total Total £ £ £ £ - - 11,000 - - 16,630 - - - 2,511 - 26,727 26,727 - 1,257 1,257 14,769 |
| - 27,984 27,984 44,910 |
|
| 263,680 27,984 291,664 83,028 |
4. Analysis of expenditure
| Analysis of expenditure | |||
|---|---|---|---|
| Staff remuneration Fundraising Professional fees Sessional staff Office & admin expenses Volunteer expenses Premises and venue expenses Heating & Lighting IT support Events expenses Covid Food PPE Pension contribution Accountancy & IE Governance costs Support Costs Total expenditure 2021 |
Costs of raising funds Direct charitable expenditure Governance costs £ £ £ - 27,736 14,267 - - 36,219 - - 1,432 - - 5,497 - 250 - 7,551 - 1,624 - 17,633 - - 5,140 - 27,818 4,939 802 - - - 2,900 14,267 136,642 2,900 - 2,900 (2,900) 10,554 14,267 150,096 164,362 |
Support costs £ 6,934 - - 358 1,374 - 1,888 - - - 10,554 - (10,554) |
2021 Total £ |
| 34,670 14,267 36,219 1,790 6,871 250 9,439 1,624 17,633 5,140 27,818 4,939 802 2,900 |
|||
| 164,362 - - |
|||
| 164,362 |
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| Total expenditure 2020 Of which unrestricted Total restricted Staff remuneration Fundraising Professional fees Sessional staff Office & admin expenses Volunteer expenses Premises and venue expenses Heating & Lighting IT support Consultancy fees Events expenses Covid Food PPE Pension contribution Accountancy & IE Tax & Social Service Total expenditure |
2,800 | 91,957 9,336 155,027 164,362 |
94,757 | 2021 Total 2020 £ £ 34,670 34,007 14,267 2,800 36,219 2,963 1,790 7,471 6,871 5,660 250 1,309 9,439 8,774 1,624 2,467 17,633 14,839 6,205 5,140 3,647 27,818 4,939 802 694 2,900 1,700 2,222 |
|---|---|---|---|---|
| 164,362 **94,757 ** |
Support costs have been allocated on the basis of staff hours engaged in each activity. Of the total expenditure, £14,267 was unrestricted and £150,095 was restricted during the period.
5. Net income / (expenditure) for the year
This is stated after charging:
| Accountancy fees Independent examiner's fee 6. Analysis of staff costs and key management personnel Staff costs were as follows: 2021 £ Salaries and wages 36,460 Tax & Social Service - 36,460 |
Accountancy fees Independent examiner's fee 6. Analysis of staff costs and key management personnel Staff costs were as follows: 2021 £ Salaries and wages 36,460 Tax & Social Service - 36,460 |
2021 2020 £ £ 2,500 1,300 400 400 2,900 1,700 2020 £ 41,477 2,222 |
|---|---|---|
| 36,460 | 43,699 |
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No employee received employee benefits (excluding employer pension) exceeding £60,000 during the year 2021.
The total employee benefits including pension contributions of the key management personnel were £802.30 2021.
The charity trustees were not paid or received any other benefits from employment with the charity in the year 2021, neither were they reimbursed expenses during the year 2021. No charity trustee received payment for professional or other services supplied to the charity in 2021.
Staff
numbers
The average number of employees (head count based on number of staff employed) during the year 2021 was 4. They were directly engaged in providing charitable activities, namely training, events, capacity building and business mentoring.
7. Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
8. Creditors : Amounts falling due within one year
| Accrued expenditure | 2021 £ 2,900 2,900 |
2020 £ 1,700 |
|---|---|---|
| 1,700 |
9. Related party transactions
There are no related party transactions to disclose for 2021.
10. Analysis of net assets between funds
| Current assets Creditors: Amounts falling due within one year Net assets at 31 March 2021 |
Restricted funds Unrestricted funds £ £ 136,553 24,226 (2,900) - 133,653 24,226 |
Total funds £ 160,778 (2,900) |
|---|---|---|
| 157878 |
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| 11. Movements in funds Restricted funds: Big Lottery Fund Trust for London Barking & Dagenham Lloyds Bank Foundation City Bridge Trust The London Community Fund GROUNDWORK BBC CiN Other Funds Total restricted funds Unrestricted funds: General funds Total unrestricted funds Total funds |
At 1 April 2020 £ 12,850 - - - 2,955 9,194 |
£ £ £ 85,843 (34,909) 63,784 10,000 (8,168) 1,832 26,800 (24,135) 2,665 24,226 - 24,226 44,741 (32,282) 12,459 51,020 (33,668) 17,352 11,150 (11,150) 9,900 (10,714) 2,141 9,194 Income Expenditure At 31 March 2021 |
|---|---|---|
| 24,999 5,577 5,577 30,576 |
263,680 (155,027) 133,653 27,984 (9,336) 24,226 27,984 - (9,336) 24,226 |
|
| 291,664 (164,362) 157,878 |
Purpose of restricted funds
Big Lottery Fund Ethnic Minority Women's Advice City Bridge Trust Covid Emergency Fund The London C Fund Social Impact Fund BBC CiN Support for disable children Trust for London Information, Advice & Guidance Barking & Dagenham Digital Inclusion
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12. Reconciliation of net income / (expenditure) to net cash flow from operating activities
| Net movement in funds for the reporting period (as per the statement of financial activities) Depreciation charges & written off (Increase)/ decrease in debtors Increase/ (decrease) in creditors Net cash provided by / (used in) operating activities 13. Analysis of cash and cash equivalents At 1 April 2020 Cash at bank and in hand 32,276 Total cash and cash equivalents 32,276 |
2021 £ 127,302 - 1,200 128,502 Cash flows 128,502 128,502 |
2020 £ (11,730) - 500 |
|---|---|---|
| (11,230) | ||
| At 31 March 2021 £ 160,778 |
||
| 160,778 |
Company limited by 14. guarantee
Excel Women's Association is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
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