**EXCEL WOMEN'S ASSOCIATION**
**(Limited by Guarantee)**
**Report and financial statements**
**For the year ended**
**31 March 2022**
**COMPANY NO.: 06934326 CHARITY NO.: 1 144357**
**EXCEL WOMEN'S ASSOCIATION**
## **(A Company Limited by Guarantee)**
## **FOR THE YEAR ENDED 31 MARCH 2022**
|Legal and Administrative details
Directors’ Report
Independent examiner’s report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements|Page
1
2 - 5
6
7
8
9-15|
|---|---|
**EXCEL WOMEN'S ASSOCIATION**
## **(A Company Limited by Guarantee)**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## **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
1
**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 2022. 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:
- select suitable accounting policies and then apply them consistently;
- make judgments and estimates that are reasonable and prudent; and
- 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.
## **REPORT OF THE TRUSTEES**
## **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 article 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.
2
**EXCEL WOMEN'S ASSOCIATION**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **Trustees’ induction and training:**
Management Committee Members receive an induction detailing their responsibilities, Code of Conducts, meeting timetable, conflict of interest, policies and procedures and declaration forms, CC3 (Responsibilities of Charity Trustees) paper and equal opportunity policies. Management Committee Members do volunteer 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 trustees will be introduced to other trustees and Excel Women’s Association employees and volunteers and be given a description of the work each of them undertakes.
The new trustees 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 trustees with the following documents:
- The most up to date Charity Commission booklets outlining their roles and responsibilities of trustees
- The Memorandum articles
- The Policies and Procedures
- The Annual Report and Business Plan
- The minutes of Trustees meetings
- The contact details of all other trustees.
## **Notes from the Trustees of Excel Women’s Association a year 2022-2022**
## **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 priority was to provide holistic support for families affected by the pandemic and current rise of cost of living, families with young children, elderly people, young people and people with disabilities to access support and intervention in person, online and remotely outreach in community spaces to provide Information Advice and Guidance, Digital support, workshops, training sessions and social activities, Also we have continued to provide specific 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 in the recovery of the pandemic in support of mental health support and isolation as 3 of the trustees are health professionals.
- Trustees have been carrying out ongoing developing governance, financial management and overall organisational development of the charity.
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## **EXCEL WOMEN'S ASSOCIATION**
## **(A COMPANY LIMITED BY GUARANTEE)**
- 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.
- The trustees have worked hard to develop financial strategy and bid writing to fundraise for the charity with one of the trustees leading work stream with others.
- We have had to look for core funding for revenues, staff, rent and overhead cost as during the pandemic we have lost some income from our facilities and we need funds for cost recovery for overall running cost and unrestricted fund.
- Two of the trustees to co-lead fundraising and identify possible funders and Amina and Rukayat are nominated to take this work on.
## **Excel Women’s Association Trustees Statement**
This year we have received limited funds as we focused of rebuilding after the pandemic and networking and reconnecting which we needed as a charity to work with others to share learning and co-designing and finding out what are the need from the community and how we can best work together collectively, we have worked with 20 providers and 5 networks locally and London wide to see what we learned and how we can stay connected and work together, we looked at possible joint-up working to fundraise and partner, The Borough was hardly hit by the pandemic and most charities and other providers had to learn to work together practically to support the residents and we as charity want to continue the momentum and the learning . We are still fundraising for projects and programmes as we are still in recovery and now in the cost-of-living crisis in order to continue to provide support families. we have new Business Model that will enable people to improve their own lives with the help of the association, the demand for our support services has increased due to many factors of high cost of living and poverty, exclusion and isolations and the trustees are working hard for the charity to reach out to most in need families in the Borough.
The charity needs to increase funds for core cost and overhead and we will be fundraising for 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 been developing our digital presence in order to enhance our online digital communication, we have improved our website and socials and one of the trustees is now leading work stream to develop digital strategy and finding new way of working to collect data and do surveys online, online café and interactive platforms for women and girls we work with to make it easier for them to access support services.
## **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 £34,559 (2021: £157,878). Of the total reserves £22,981 (2021:£24,225) were unrestricted and £11,577 (2021 £133,653) 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.
4
**EXCEL WOMEN'S ASSOCIATION**
## **(A COMPANY LIMITED BY GUARANTEE)**
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
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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 2022**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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 2022**
||||**Unrestri**|**2022**||Unrestri|2021|
|---|---|---|---|---|---|---|---|
||**Restricted**||**cted**|**Total**|Restricted|cted|Total|
||Note|£|£|**£**|£|£|£|
|**Income from:**||||||||
|Charitable activities||||||||
|Donations and legacies|2|99,651|1,506|**101,157**|263,680|27,984|291,664|
|Charitable activities|3|||**-**|||-|
|**Total income**||99,651|1,506|**101,157**|263,680|27,984|291,664|
|**Expenditure on:**||||||||
|Raising funds||20,736||**20,736**|9,485|4,782|14,267|
|Charitable activities||||**-**||||
|Women Wellbeing||200,991|2,750|**203,741**|145,542|4,554|150,096|
|**Total expenditure**|4|221,726|2,750|**224,476**|155,027|9,336|164,362|
|**Net income / (expenditure)**||(122,075)|(1,244)|**(123,320)**|108,654|18,648|127,302|
|**Net movement in funds**||(122,075)|(1,244)|**(123,320)**|108,654|18,648|127,302|
|**Reconciliation of funds:**||||||||
|Total funds brought forward||133,653|24,226|**157,878**|24,999|5,577|30,576|
|**Total funds carried forward**|11|11,577|22,981|**34,558**|133,653|24,225|157,878|
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 9 to 15 form part of these financial statements.
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## **Excel Women's Association**
|**Excel Women's Association**||
|---|---|
|**Balance sheet**
**As at 31 March 2022**|Charity No. 1144357
Company No. 06934326|
|Note
**Fixed assets**
Tangible assets
**Current assets**
8
Cash at bank and in hand
9
**Net current assets**
**Net assets**
11
**Funds**
12
Unrestricted funds:
Designated funds
General funds
**Total funds**
Creditors: Amounts falling due within one
Restricted funds|**2022**
2021
**£**
£
**-**
-
**37,459**
160,778
**37,459**
**160,778**
**(2,900)**
(2,900)
**34,559**
**157,878**
**34,559**
**157,878**|
||**11,577**
133,653
**22,981**
24,225
**34,558**
157,878|
For the period ending 31 March 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
- 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 _30/01/2023_ and signed on its behalf by:
Fatima Asker – Chair
.
8
## **Excel Women's Association**
## **Notes to the financial statements**
**For the year ended 31 March 2022**
## **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.
9
- 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 donation s and legacies**
|Big Lottery Fund
Trust for London
Barking & Dagenham
City Bridge Trust
The London Community
Lloyds Bank Foundation
Groundworks
BBC CiN|Restricted
Unrestricte
d
**2022**
2,021
**Total**
Total
£
£
**£**
£
25,936.00
**25,936**
85,843
39,254
**39,254**
10,000
5,719
**5,719**
26,800
-
**-**
44,741
26,854
**26,854**
51,020
-
**-**
24,226
1,888
**1,888**
11,150
-
**-**
9,900
-
-
-|
|---|---|
||99,651
-
**99,651**
263,680|
10
## **3. Income from charitable activities**
|Other Income
Donations
**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
Tax & NIC
Pension contribution
Accountancy & IE
Governance costs
Support Costs
**Total expenditure 2022**
Total expenditure 2021|Costs of
raising
funds
£
-
20,736
-
-
-
-
-
-
-
20,736
-
**20,736**
14,267|Restricted
Unrestricted
£
£
-
380
1,126
-
1,506
99,651
1,506
Direct
charitable
expenditure
Governance
costs
£
£
34,201
-
63,783
-
916
-
7,236
1,570
-
14,430
-
1,441
6,060
-
4,325
-
34,170
8,080
8,315
2,117
-
-
2,900
186,645
2,900
2,900
(2,900)
14,196
**203,741**
**224,476**
150,096
164,362|Restricted
Unrestricted
£
£
-
380
1,126|**2022**
**Total**
**£**
380
**1,126**|2021
Total
£
26,727
1,257|
|---|---|---|---|---|---|
||||-
1,506|**1,506**|27,984|
||||99,651
1,506|**101,157**|291,664|
|||||Support
costs
£
8,550
-
-
229
1,809
-
3,608
-
-
-
14,196
-
(14,196)|**2022**
**Total**
**£**
**42,751**
**20,736**
**63,783**
**1,145**
**9,045**
**1,570**
**18,038**
**1,441**
**6,060**
**4,325**
**34,170**
**8,080**
**8,315**
**2,117**
**2,900**
**224,476**
-
-
**224,476**|
|||||||
|||||||
**4. Analysis of expenditure**
11
|Staff remuneration
Fundraising
Professional fees
Sessional staff
Office & admin expenses
Volunteer expenses
Premises and venue
expenses
Heating & Lighting
IT support
Events expanses
Covid Food
PPE
Pension contribution
Accountancy & IE
Tax & Social Service
**Total expenditure**|**2022**
**Total**
2021
**£**
£
**42,751**
34,670
**20,736**
14,267
**63,783**
36,219
**1,145**
1,790
**9,045**
6,871
**1,570**
250
**18,038**
9,439
**1,441**
1,624
**6,060**
17,633
**4,325**
5,140
**34,170**
27,818
**8,080**
4,939
**2,117**
802
**2,900**
2,900
**8,315**
-|
|---|---|
||**224,476**
**164,362 **|
Support costs have been allocated on the basis of staff hours engaged in each activity.
Of the total expenditure, £2750 was unrestricted and £221,726 was restricted during the period.
## **5. Net income / (expenditure) for the year**
|This is stated after charging:
Accountancy fees
Independent examiner's fee|**2022**
2021
**£**
£
**2,500**
2,500
400
400|
|---|---|
||**2,900**
**2,900**|
## **6. Analysis of staff costs and key management personnel**
|Staff costs were as follows:
Salaries and wages
Tax & Social Service|**2022**
**£**
**43,896**
**8,315**
**52,211**|2021
£
36,460|
|---|---|---|
|||36,460|
12
No employee received employee benefits (excluding employer pension) exceeding £60,000 during the year 2022.
The total employee benefits including pension contributions of the key management personnel were £802.30 2022.
The charity trustees were not paid or received any other benefits from employment with the charity in the year 2022, neither were they reimbursed expenses during the year 2022. No charity trustee received payment for professional or other services supplied to the charity in 2022.
## **Staff**
## **numbers**
The average number of employees (head count based on number of staff employed) during the year 2021-2022 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|**2022**
**£**
**2,900**
**2,900**|2021
£
2,900|
|---|---|---|
|||2,900|
## **9. Related party transactions**
There are no related party transactions to disclose for 2022.
## **10. Analysis of net assets between funds**
|Current assets
Creditors: Amounts falling due within one year
**Net assets at 31 March 2022**
**Movements in funds**
At 1 April
2021
£
**Restricted funds:**
Big Lottery Fund
63,784
Trust for London
1,832|Restricted
funds
£
14,477
(2,900)
**11,577**
Income
£
25,936
39,254|Unrestricted
funds
£
22,981
-
**22,981 **
Expenditure
£
(89,290)
(41,079)|**Total funds**
**£**
**37,459**
**(2,900)**|
|---|---|---|---|
||||**34559**|
||||**At 31 March**
**2022**
**£**
**430**
**7**|
## **11. Movements in funds**
13
|Barking & Dagenham
Lloyds Bank Foundation
City Bridge Trust
The London Community Fund
BBC CiN
Other Funds
**Total restricted funds**
**Unrestricted funds:**
General funds
**Total unrestricted funds**
**Total funds**|2664.71
24226
12,459
17,352
2,141
9,194|5,719
-
-
26,854
-
1,887.60|(8,380)
(24,237)
(12,300)
(44,124)
(465)
- 1,850.00|**4**
**(11)**
**158**
**81**
**1,676**
**9,232**|
|---|---|---|---|---|
||133,652|99,651|(221,726)|11,577|
||24,226
24,226
157,878|1,506
1,506-|(2,750)
(2,750)
(224,476)|**22,981**|
|||||**22,981**|
|||101,157||**34,558**|
## **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 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**|**2022**
**£**
**(123,320)**
**-**
**-**
**(123,320)**|2021
£
127,302
-
1,200|
|---|---|---|
|||128,502|
## **13. Analysis of cash and cash equivalents**
|Cash at bank and
in hand
**Total cash and cash**
**equivalents**|At 1 April
2021
160,778
160,778|Cash flows
(123,320)
(123,320)|**At 31 March**
**2022**
£
**37,458**|
|---|---|---|---|
||||**37,458**|
## **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.
15