You Make It
(A Charitable Incorporated Organisation)
Report and Financial Statements
Year ended 31 March 2021
Charity Number 1158572
| Contents | Page |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner’s Report | 15 |
| Statement of Financial Activities | 16 |
| Balance Sheet | 17 |
| Notes to the accounts | 18 |
You Make It Report of the Trustees for the year ended 31 March 2021
The trustees present their annual report together with the independently examined financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Charities Act 2011 and the recommendations of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP FRS 102 effective October 2019 ) as they apply to small charities.
Objectives and activities for the public benefit
The objects of You Make It, as set out in its governing document, are to advance the education and to relieve unemployment of Greater London’s young unemployed women in particular, but not exclusively, by:
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Providing information though workshops focused on developing skills to increase employability;
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Providing advice about learning and earning opportunities through a mentoring programme;
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Making grants to assist the You Make It graduates develop business ideas and become selfemployed.
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Promoting public policies focused on assisting young unemployed women in the United Kingdom gain equal access to education and employment opportunities by raising awareness through publications and events.
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You Make It
Report of the Trustees for the year ended 31 March 2021 (continued)
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. The objects are achieved through a variety of activities:
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Three programmes a year running for 4 months, each for up to 25 women which provide unemployed and underemployed women with personal and professional development opportunities that allow them to fulfil their potential in the world of work and business
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Mentoring for each of the women on the programmes with a wide variety of networked mentors from different backgrounds
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The provision of counselling and pastoral care to enable women to overcome personal barriers (mental and practical e.g. housing and other issues) in order to stand the best chance at life
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Working in partnership with employers who offer work placements, deliver workshops, and sponsor staff to mentor with YMI
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Workshops that are aimed at commercial and third sector organisations and members of the general public.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
A review of our achievements and performance: How our activities delivered public benefit
In light of the coronavirus pandemic and the necessary safety precautions, You Make It rapidly pivoted and within a 2 month period was able to launch an alternative to face-to-face activities through a new online intervention for women, with the first of these commencing in May 2020 and lasting 3 months.
Our team have been working from home since March 2020 and delivering workshops, therapy and mentoring remotely via Zoom. We’ve observed and noted even more adverse effects on our women (the large majority of which are from Black and Asian backgrounds) in terms of mental health compared with face to face programmes due to increased isolation, and due to many having close family and friends who have been negatively impacted by the virus (BAME population 4 times more likely to die of it according to research by the Office for National Statistics).
Our online programme, though shorter than the face-to-face one, is more intensive in terms of contact during the week and, since piloting it in in May 2020, we have extended our programme to last 4 months and started working with up to 30 women per cohort.
To combat issues with digital accessibility, our team were able to secure laptop donations and funding for WIFI dongles to ensure that women are able to access our service online. We also focus more strongly on mental and physical wellbeing. Over the last year we have delivered 3 iterations of our online programme and since the year end prior to publishing this report, we launched a fourth programme online due to the need for ongoing social distancing.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Programmes for women
During the 2020-21 financial year, You Make It:
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delivered three programmes, recruiting 77 women in total with 73 completing and 87% from BAME backgrounds (2019-20: 50 women, 45 completing, 98% BAME backgrounds)
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delivered 184 hours of group learning in weekly workshops, debate clubs, seminars and guest talks ensuring creation of a new peer and professional network for women, knowledge and skills relevant to work and business start-ups, encouragement of healthier and happier ways of living, as well as providing a safe space for women to begin to reflect on and overcome issues of abuse and other trauma holding them back from moving forward with life (2019-20: 136 hours of group learning)
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delivered 1,032 hours of 1-1 mentoring - each woman being matched with a mentor they met with at least 12 times over the course of 3 months on our first online programme and at least 16 times over the course of 4 months on our second and third online programmes. (2019-20: 270 hours)
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delivered 396 hours of weekly 1-1 therapy to address depression and anxiety. (2019-20: 224 hours)
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delivered 53 hours of wellbeing activities including weekly yoga, mindfulness sessions and cooking classes (2019-20: 12 hours of yoga)
In our previous report we noted an expectation of variance in our outputs and outcomes due to COVID-19 and lockdown. We have since been unable to offer our work placements and start-up opportunities, but hope to reintroduce these once it is safe to resume face to face delivery (2019-20: 33 work placements brokered, 39 hours of 1-1 business coaching and 14 hours of enterprise masterclasses delivered around start-up opportunities).
Our programme evaluations across this period nonetheless demonstrate consistent high impact. Through our self-rated surveys, all graduates have shown progress against a range of measures showing strong increases across: size of social network, public speaking skills, confidence levels, social skills, recognition of own skills, ability to promote their skillset online for employment and ability to manage health and wellbeing.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Despite growing concerns around the impact of COVID-19 on the economy and subsequent job opportunities for beneficiaries, of 73 graduates from our three online programmes, 62% have since found employment, set-up as self-employed/freelance, accessed further educational courses/training or begun working on start-ups since taking part in You Make It. (2019-20: 73%)
In 2021-22, we expect to work with up to 90 beneficiaries across 3 programmes and have already launched and begun delivering our first programme of the year online. We anticipate that when we can go back to face to face, some of our services will continue online with more frequent 1-1 contact hours through mentoring, therapy and additional wellness activities trialled during the online/ Covid programmes because we have learnt over the past year that this approach works well.
Counselling and pastoral care supporting programmes for women
We are pleased to share that during 2020-21 we recruited two new therapists and provided:
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396 hours of 1-1 counselling with trained therapists to 61 women across 3 programmes (2019-20: 224 hours to 23 women across 2 programmes)
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10 hours of pastoral care to 6 women across 3 programmes to signpost with issues around housing, benefits, domestic violence and debt (2019-20: 13 hours to 8 women across 2 programmes).
In 2021-22 we will be increasing the number of hours of pastoral care and counselling provided to our beneficiaries and have as such recently recruited two further therapists to join our float to meet the growing demand. We expect to offer:
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567 hours of 1-1 counselling with trained therapists to approximately 63 women
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20 hours of pastoral care to 20 women across 2 programmes to deal with issues faced around housing, benefits, domestic violence and debt.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Workshops to employers and the general public
The majority of the young women benefiting from our programmes as well as the staff team delivering our programmes have experienced racism throughout their lives, including in learning settings and workplaces. In the wake of the death of George Floyd and the momentum of Black Lives Matter since summer 2020, the team have focused instead on developing and launching You Change It, a new Anti-Racist development programme for employers. This has evolved during 2020-21 into a pathway of 5 modules aimed at organisations who want to become active allies in the fight for inclusion.
This training offer for employers promotes the following core aims: to share YMI’s expertise and knowledge in order to improve chances for young people from diverse backgrounds in the workplace and in doing so, to improve workplaces generally. At the same time, the aim is for this strand of our work, with its potential to earn income from businesses, to support the main programmes of work with young women financially.
This service was initially piloted with the board of trustees and the team has since delivered to 6 companies across the creative, cultural, tech and legal sectors as well as two cohorts comprising of individuals from smaller businesses. The team are currently working on developing a thorough evaluation of this service and securing further clients for the 2021-22 financial year.
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You Make It
Report of the Trustees for the year ended 31 March 2021 (continued)
Income generation
Increasing earned sources of income in order to support the core programme for women has continued to be a key aim for 2020-21. The successful launch of You Change It saw income of £45,604 in 2020-21 (2020: £2,250 from You Make It Happen workshops).
In addition, a further £28,675 (2020: £11,130) of earned income was generated from mentor training courses.
During 2020-21, activities were funded by grants from the following funders, and we are incredibly grateful to each one: City Bridge Trust - London Community Response Fund, Drapers’ Charitable Fund, East End Community Foundation, The Green Hat Foundation ,The Henry Smith Charity, Mageni Trust, National Lottery Community Fund, Oak Foundation and Tudor Trust.
Volunteers and in-kind support
We are also immensely grateful to all of our volunteers who, during our 4 month online empowerment programmes for young women, contribute their time to the programme-related activities as mentors, workshop leaders, delivered wellness activities including yoga classes, and provided literacy support.
The cost of volunteered time is not included in the financial statements however, during the year volunteers provided 1,112 hours of support for our two core programmes during 2020-21, with an estimated value of £36,675 (2020: 385 hours with estimated value of over £18,700).
In addition to the contribution of volunteers, pro bono consultancy was provided during the year 2020-21 to both support the transition of the programme to its online format and to support fundraising, and with legal support with a total value of £31,307 ( 2020: £nil). This support, together with donated items for women which included computer equipment, flowers for women to celebrate their graduation, and a wide variety of wellbeing items totalled £40,133 and is shown in note 3c of the financial statements. This compared to donated gifts and services provided in the previous year totalling £30,590, which largely related to the provision of free-of-charge room hire and catering for face to face programmes.
Grant Making
In 2019-20 we received a grant from The Green Hat Foundation to enable the provision of start-up grants issued to the winners of our Ladies’ Den business pitch competition. During the 2020-21 year grants of £200 were issued (2020: £837).
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You Make It
Report of the Trustees for the year ended 31 March 2021 (continued)
Financial Review
Income
Total income for the year was £371,609 (2020: £252,124).
Principal sources of income came from grants and donations which totalled £295,965 (2020: £238,413) and included £13,031 (2020: £30,760) in general donations from individuals and businesses, many of whom generously give on a regular basis, £40,133 (2019: £30,590) in donated gifts and services, and £242,801 (2020: £177,063) in grants from Trusts and Foundations.
Other income comprised: mentors training of £28,675 (2019: £11,130), income from the newly launched You Change It anti-racism courses of £45,604 (2020: £2,250 from other courses) and other trading income of £1,365 (2020: £331).
Expenditure
Total expenditure for the year ended March 2021 was £288,338 (2020: £229,470) of which the largest areas of spend were staff costs of £182,612 (2020: £137,207) and other direct programme costs of £48,455 (2020: £63,108). General running costs totalled £56,820 (2020: £25,149).
Costs have risen by £57,522. This is the result of three key changes:
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A rise in staff costs of £45,404. This is the result of the first full year of costs following the expansion of the staff team during the previous year from 3 to 4 staff, and higher rates of pay and the introduction of a bonus scheme for all staff linked to earned income to recognise the change in responsibilities and personal cost faced by the team in delivering anti-racism training courses.
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General running costs have increased by £27,671 due to the inclusion of consultancy costs totalling £16,000 to support the Board and Staff team with advice surrounding income generation and porgramme delivery at the start of the Covid-19 pandemic and legal fees of £15,307. These services were provided pro bono and the donated value is also included within income. This increase was offset by cost reduction for office space where the generous offer of a 50% discount throughout the year led to savings of over £5,000 as well as savings seen due to reduced face to face meetings and activities because of Covid-19 social distancing measures.
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These increases have been offset by a fall in Direct Programme costs of £14,653 in comparison to the previous year. The largest area of reduction was seen in Workshop Running costs, where room hire, previously provided for free and included within the costs as a gift in kind, was not required during the pandemic. Meanwhile new costs were incurred related to Covid-19 crisis support provided to women during online programme delivery, including self-care packages, food boxes and the provision of resources to access the online programmes including computer equipment and mobile Wi-Fi.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Total funds, reserves policy and going concern
The trustees review the charity’s reserves policy annually and have considered the Charity Commission guidance on reserves in setting this policy. As income sources have changed during the year and the charity has become less reliant on grant funding, the trustees have refined their approach to setting the reserves policy for 2021/22, moving from considering the core costs requirements over a number of months, to a more detailed risk-based approach.
Based on detailed analysis of the financial risks faced by the charity at this time, the trustees consider it necessary to aim for unrestricted undesignated funds of £220,500 (2019-20: £120,000), in order to maintain the charity’s services .
This target represents:
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£115,000 in case of a shortfall in earned income, being the amount of the earned income target assessed as high risk for the year ahead
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£63,000 in case of a shortfall in grant income, being the amount of the fundraising target assessed as high risk for the year ahead
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£25,000 to safeguard high quality services in the event of staff sickness or maternity/adoption leave, and
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£17,500 to cover short term cash flow requirements, as the business model sometimes necessitates committing to costs before the related income is received.
The trustees have considered the risk of sudden unexpected closure or withdrawal of funding, and consider this risk to be very low in the 12 months ahead; therefore targets have not been set for these areas.
The largest part of the reserves target relates to unsecured earned income. Due to the success of the team in developing sources of earned income to reduce YMI’s reliance on grant funding, there will now be a higher reliance on unsecured earned income to meet the budgeted running costs at the start of each financial year. This strand of work is still in its infancy and the trustees feel that reserves are required to provide stability to the core programme for women as this income strand continues to develop. This will allow for fluctuations in income levels and provide time for sources of income to be further refined where necessary.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
At 31 March 2021, the level of unrestricted, undesignated reserves held was £199,808 (2020: £135,464) 91% of the agreed target (2020: 100%). Reaching 100% of the new target will be dependent on the success of the You Change It programme during the year ahead, however the trustees are hopeful that the target will be achieved.
The Trustees have considered the level of reserves held, secured funding and the charity’s cost base and consider that there are no significant threats to You Make It’s ability to continue as a going concern for the twelve months from the date of approving these accounts. In drawing this conclusion, Trustees have reviewed detailed financial forecasts including expected cashflows through to September 2022. As such the accounts have been prepared on a going concern basis.
Risk Management
In the mid to longer term, there are multiple potential risks arising out of the pandemic, including with grant fundraising. With the likelihood of a prolonged economic recession, there will be increased demands on key funders from organisations meeting community needs. That said, because of our strong and consistent track record and since effectively pivoting to deliver our core programme as a modified online emergency Covid-19 intervention, since the coronavirus crisis began we have been successful in securing further funding from National Lottery Community Fund, as well as new funding from the London Community Response Fund, East End Community Foundation and Draper’s’ Charitable Fund. We continue to identify funding prospects and make new applications on a regular basis, and remain hopeful that the impact of and increased need for our services will give YMI a strong chance of securing the necessary financial support over the coming years.
As already noted, in addition we have created a new earned income stream for You Make It that not only has the potential to reduce our reliance on grants, but also responds to the wider climate of racial inequality. At the time of writing You Make It has already delivered to 7 companies largely through the networks of the CEO to take part in this development programme, and is committed to ongoing marketing and development of this service. Although it is noted that with a recession companies are likely to cut their learning and development budgets, our offer is focused around an area that You Make It believes many employers will be likely to retain focus and resources if at all possible.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Trustees monitor progress against fundraised and earned income targets in detail at each board meeting and are informed promptly between meetings of any significant successes or disappointments. With each report, trustees work with the team to consider the level of financial risk in the context of income secured, key prospects in the funder and customer pipelines and current levels of unrestricted reserves. This careful monitoring enables trustees to make appropriate financial decisions regarding commitments to future programmes and activities, in good time.
In terms of continued delivery of services online, to date You Make It has been successful in recruiting women for online programmes and despite some challenges presented by online delivery, it has also generated unexpected benefits.
Covid-19 has meant that our staff are currently working from their homes as well as volunteers supporting our programmes. This has not presented significant difficulty for the team or our women beneficiaries.
In terms of employment outcomes for women, the economic impact of Covid-19 is set to mean increased unemployment. This is at present hard to predict, but we will respond as best we can to meet the needs of our women.
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You Make It
Report of the Trustees for the year ended 31 March 2021 (continued)
Structure, Governance and Management
The charity is a registered Charitable Incorporated Organisation (charity number 1158572) and is governed by the terms of its constitution.
Trustees are approved and appointed by the rest of the board on a majority vote basis. Each trustee position is initially for a 2 year term and may be reappointed for further terms of 2 years subject to the needs of the organisation.
Skills gaps at board level are regularly reviewed and ongoing efforts made to reduce gaps. Any new trustee appointed is provided with an induction pack, which includes a Declaration of Interests section and a Skills Audit.
The Chair and CEO of You Make It also induct new trustees into the work of the charity.
All trustees are made aware of relevant organisational policies e.g. Safeguarding, as well as Charity Commission Guidance (all trustees are asked to register for updates from the Charity Commission).
Organisational structure and key management personnel
The CEO reports to the Chair of You Make It, who is responsible for convening board meetings and ensuring the correct governance of the charity with other trustees. The Chair is also responsible for appraising the performance of the CEO and trustees.
At present there are 4 staff: the CEO, a Senior Programmes & Partnerships Manager managed and appraised by the CEO, and a Programmes Manager and an Administrator managed and appraised by the Senior Programmes & Partnerships Manager with support from the CEO. The culture of management is relatively flat with frequent and open communication between all team members.
The trustees consider the board of trustees and the CEO to be the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis.
The pay of the charity’s CEO is reviewed annually by the board of trustees. Any changes to staff pay are dealt with in accordance with the Staff Pay Policy which is set by the board of trustees and reviewed annually.
Details of trustee expenses and related party transactions are disclosed in note 20 to the accounts. Trustees are required to disclose all relevant interests and register them with the CEO and, in accordance with the charities policy, withdraw from decisions where a conflict of interest arises.
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Reference and administrative information
Charity Name You Make It Charity Registration Number 1158572
Trustees
The Trustees who have served from 1 April 2020 up to the date of approval of these financial statements were as follows:
Anwara Begum (until 24 June 2020) Nadine Davies (until 24 June 2020) Stephanie Grace Collins Himesh Kar Cath Longman-Jones - Treasurer Atul Mehta - Chair Kate O’Connor Ian Quest (until 15th March 21) Geoff Whitehouse (until 26 October 2020) Muinat Adeyemo (appointed 4 September 2020)
CEO Asma Shah Principal Office You Make It, Shed, 8 Lee Street, London, E8 4DY Independent Examiner Andrew M Wells, 99 Western Road, Lewes, East Sussex, BN7 1RS
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You Make It Report of the Trustees for the year ended 31 March 2021 (continued)
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Approved by the trustees on 13[th] September 2021 and signed on their behalf by:
Atul Mehta Chair
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You Make It
Independent Examiners Report to the Trustees of You Make It (Charity Number 1158572)
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew M Wells FMAAT 27[th] September 2021
Counterculture Partnership LLP Unit 115 Ducie House Ducie Street Manchester M1 2JW
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You Make It Statement of Financial Activities For the year ended 31 March 2021
| Notes Income from: Donations and legacies: Grants and Donations 3 Charitable Activities: Mentor Training You Change It Workshops Other Trading Activities: Total Income Expenditure on: Staff costs 7 Direct Programme costs 4 Mentor Training You Change It Grants Fundraising costs General Running costs 5 Other Trading costs Total Expenditure 6 Net income/(expenditure) for the year Net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward 15 |
Total Total 31.03.2021 31.03.2020 £ £ £ £ £ £ 58,088 237,877 295,965 68,791 169,622 238,413 28,675 - 28,675 11,130 - 11,130 45,604 - 45,604 - - - - - - 2,250 - 2,250 1,365 - 1,365 331 - 331 Restricted Funds Unrestricted Funds Unrestricted Funds Restricted Funds |
|---|---|
| 133,732 237,877 371,609 82,502 169,622 252,124 |
|
| 26,941 155,671 182,612 39,524 97,683 137,207 4,969 43,486 48,455 31,720 31,388 63,108 - 1,435 1,435 - 633 633 117 2,290 2,407 - - - - 200 200 - 837 837 59 - 59 714 - 714 36,952 15,868 52,820 13,738 11,411 25,149 350 - 350 300 1,521 1,821 |
|
| 69,388 218,950 288,338 85,996 143,473 229,469 |
|
| 64,344 18,927 83,271 (3,495) 26,149 22,654 |
|
| 64,344 18,927 83,271 (3,495) 26,149 22,654 |
|
| 135,464 75,991 211,455 138,959 49,842 188,801 |
|
| 199,808 94,918 294,726 135,464 75,991 211,455 |
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You Make It Balance Sheet As at 31 March 2021
| Notes Fixed Assets Tangible assets 10 Total Fixed Assets Current Assets Debtors 11 Cash at bank and in hand 14 Total Current Assets Creditors: Creditors falling due within one year 12 Net Current Assets Total Assets less current liabilities Total Net Assets The Funds of the charity: Unrestricted income funds Restricted income funds Total charity funds 15 |
31.03.2021 £ 4,211 4,211 21,072 313,001 334,073 43,558 290,515 294,725 294,726 199,808 94,918 294,726 |
31.03.2020 £ 1,064 |
|---|---|---|
| 1,064 5,397 238,619 |
||
| 244,016 33,625 |
||
| 210,391 | ||
| 211,455 | ||
| 211,455 | ||
| 135,464 75,991 |
||
| 211,455 |
Approved for issue by the Trustees on 13th September 2021
Atul Mehta - Chair
The notes on pages 18 to 28 form part of these accounts
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You Make It Notes to the Accounts 31 March 2021
1 Basis of Preparation
1.a Basis of Accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
1.b Legal Form
You Make It is a Charitable Incorporated Organisation registered as a body corporate under Part 11 of the Charities Act 2011. The address of the organisation is Shed, 8 Lee Street, London, E8 4DY. The charity’s operations and principal activities are included on page 1 and 2 of the Trustees’ annual report
1.c Going Concern
The financial statements are prepared on a going concern basis, as the Trustees consider there are no material uncertainties around the charities ability to continue as a going concern. The charity is currently holding £199,801 in unrestricted general funds (91% of target reserves), of which £178k is specifically held to mitigate against the risk of a shortfall in income for the year ahead. In addition, strong prospects have been identified to cover the remainder of the total target income for the 12 months to 13 September 2022, and if necessary, programme delivery costs could be reduced. The adequacy of the reserves target is reviewed regularly by the Trustees.
Accounting Policies
- 1.d The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2. The financial statements are presented in sterling which is the functional currency of the charity rounded to the nearest £
Significant accounting estimates and judegements
- 1.e Aside from going concern set out in 1c above, there have been no other key estimates or judgements required in dteermining the carrying value of assets and liabilities. There have been no changes have been to accounting estimates during the year.
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You Make It Notes to the Accounts 31 March 2021 (continued)
2 Accounting Policies Income
- 2.a Recognition of income
Income is included in the Statement of Financial Activities (Sofa) when:
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the charity becomes entitled to the resources;
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
2.b Grants and donations
Grants and donations are only included in the SOFA when the general income recognition criteria are met, generally upon receipt. (5.10 to 5.12 FRS102 SORP).
Where grants are of a performance related nature, income is only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
2.c Government grants
When Government Grants are received these are disclosed separately in the accounts (Note 3b)
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2.d Tax reclaims on donations and gifts
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Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
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2.e Donated goods and services/facilities
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Gifts in kind for use by the charity are included in the SOFA as income from donations when receivable. Donated goods are measured at fair value(the amount for which the asset could be exchanged) unless impractical to do so.
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
2.f Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
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You Make It Notes to the Accounts 31 March 2021 (continued)
Expenditure
2.g Liability recognition
- Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
2.h Governance and support costs
The charity has chosen to report income and expenditure using natural classification rather than an activity based presentation and as such governance and support costs are shown separately in note 7.
Assets and Labilities
- 2.i Accrued and Deferred income
Accrued income relates to gift aid receivable only.
Deferred Income relates to:
- income invoiced for You Change It and mentor training activities delivered after the year end
2.j Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts
2.k Bank and Cash
Cash includes cash held in the charity’s bank accounts, petty cash and amounts held by PayPal
- 2.l Tangible fixed assets for use by charity Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost. Assets are depreciated over 3 years on a straight line basis.
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You Make It Notes to the Accounts 31 March 2021 (continued)
3. Grants and Donations
| 3. Grants and Donations | 3. Grants and Donations | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| Funds | Funds | 31.03.2021 | 31.03.2020 | ||||
| Donations from Individuals and Businesses | 13,031 | - | 13,031 | 30,760 | |||
| Grant Income (note 3b) | 5,000 | 237,801 | 242,801 | 177,063 | |||
| Donated gift and services (note 3c) | 40,133 | - | 40,133 | 30,590 | |||
| £ | 58,164 |
£ | 237,801 |
£ | 295,965 | £ | 238,413 |
| 3b. Grant Income | |||||||
| We were grateful to have received Grant income from the following trusts | and | foundations: | |||||
| Unrestricted | Restricted | Total | Total | ||||
| Funds | Funds | 31.03.2021 | 31.03.2020 | ||||
| Belpech Trust | - | - | - | 2,500 | |||
| Better Community Business Network (BCBN) | - | - | - | 2,960 | |||
| City Bridge Trust- London Community Response Fund - Wave 2 |
- | 22,296 | 22,296 | - | |||
| Drapers Charitable Trust | - | 10,000 | 10,000 | - | |||
| East End Community Foundation (Tampon Tax) | - | - | - | 5,000 | |||
| East End Community Foundation | - | 7,000 | 7,000 | - | |||
| Green Hat Foundation | - | - | - | 5,221 | |||
| The Henry Smith Charity | - | 60,000 | 60,000 | 60,000 | |||
| Mageni Trust | 5,000 | - | 5,000 | 5,000 | |||
| National Lottery Community Fund | - | 113,956 | 113,956 | 62,000 | |||
| Oak Foundation | - | 6,930 | 6,930 | - | |||
| Tudor Trust | - | 17,619 | 17,619 | 34,382 | |||
| £ | 5,000 | £ | 237,801 |
£ | 242,801 | £ | 177,063 |
Other than funding from the National Lottery Community Fund set out above totalling £113,956 (2020:£62,000) no other government grants were received during the year (2020 none).
Of the total funds shown as having been received from Tudor Trust above, £15,619 releates to income received in the 2019/20 financial year which was deferred as it related to salary payments which could not be made in advance as shown in note 13
3c. Donated goods, Facilities and Services
| 3c. Donated goods, Facilities and Services | |
|---|---|
| Venue Hire Catering Self care items for women Graduation gifts for women IT equipment for women Legal Fees Consultancy |
Total Total 31.03.2021 31.03.2020 - 27,440 - 3,150 2,526 - 1,800 - 4,500 - 15,307 - 16,000 - |
| 40,133 £ 30,590 £ |
Donated services and facilities are included in the SOFA when received and are shown at the value the charity would need to pay to secure the same services, items or facilities provided that amount can be measured reliably.
The time given by volunteers is not recognised in the accounts however we are extremely grateful for the 1,075 (2020:385) hours of support provided by them which at estimated market value amounts to £35,565 (2020:£18,705) of donated time.
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You Make It Notes to the Accounts 31 March 2021 (continued)
4. Direct Programme Costs
| 4. Direct Programme Costs | |
|---|---|
| Workshop Running Costs Workshop Refreshments Participant Travel Costs Graduation Costs Pastoral Care and Counselling DBS Checking Filming and Photography Evaluation Costs Covid Crisis Support Recruitment to programmes Other 5. General Running Costs Governance Office space Consultancy Payroll, Accountancy and Bookkeeping Stationery, Postage, Telephones and IT costs Insurance Meeting Sundries Legal Fees (Gift in Kind) Depreciation Other |
Total Total 31.03.2021 31.03.2020 11,948 36,780 - 6,249 5 2,357 2,340 1,505 16,329 11,481 908 448 - 2,070 2,100 2,100 11,586 - 3,239 - - 118 |
| 48,455 £ 63,108 £ |
|
| Total 31.03.2021 Total 31.03.2020 2,232 720 5,280 10,295 16,000 - 6,528 6,232 2,931 3,612 978 1,145 232 1,316 15,307 - 2,522 803 810 1,026 |
|
| 52,820 £ 25,149 £ |
Page 22
You Make It Notes to the Accounts 31 March 2021 (continued)
6. Net expenditure for the year
| 6. Net expenditure for the year | ||
|---|---|---|
| This is stated after the following | Total | Total |
| 31.03.2021 | 31.03.2020 | |
| Depreciation of tangible fixed assets | 2,522 | 803 |
| Profit of disposal of IT equipment | - | (140) |
| Independent Examination Fees (including VAT) | 720 | 720 |
| Operating leases Office space |
5,280 | 10,296 |
7. Analysis of staff costs, trustee renumerations and expenses, and the cost of key management personnel
| The staff costs were Wages and Salaries Social Security Costs Pension Costs |
Total Total 31.03.2021 31.03.2020 154,568 118,945 12,531 9,555 8,115 5,106 |
|---|---|
| 175,214 £ 133,606 £ |
No employees received employee benefits (excluding employer pension costs and national insurance) for the reporting period of more than £60,000. (2020: none)
You Make It operates a defined contribution pension scheme for all eligible employees. Employer contributions are included in the SOFA within staff costs as an expense for the year ended 31 March 2021 and total £8,155 (2020:£5,106). The employers amount included within creditors at the year end is £396 (2020:£466).
The key management personnel of the charity comprise the Trustees and the CEO. No trustee receives any payment for their services to the charity. The total amount paid to the CEO in the financial year ended 31 March 2021 including Employers National Insurance and Pension was £68,585 (2020: £61,126)
8. Average headcount
| 8. Average headcount | |
|---|---|
| Charitable activities | Full Time Part Time Full Time Part Time 3 1 2 1 2020 2021 |
| 3 1 2 1 |
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You Make It Notes to the Accounts 31 March 2021 (continued)
9. Taxation
By virtue of S.478 Corporation Tax Act 2010, the charity is exempt from corporation tax.
10. Tangible Fixed Assets
| 10. Tangible Fixed Assets | |
|---|---|
| Cost As at 1 April 2020 Additions Disposals As at 31 March 2021 Depreciation As at 1 April 2020 Charge for the year Disposals As at 31 March 2021 Net Book Value As at 31 March 2020 As at 31 March 2021 |
IT and Office Equipment Total |
| 5,496 5,496 5,669 5,669 - - |
|
| 11,165 11,165 |
|
| 4,432 4,432 2,522 2,522 - - |
|
| 6,954 6,954 |
|
| 1,064 £ 1,064 £ |
|
| 4,211 £ 4,211 £ |
11. Debtors
| 11. Debtors | |
|---|---|
| Trade debtors Prepayments Gift Aid Accrued Income |
Total Total 31.03.2021 31.03.2020 19,208 2,280 1,719 836 145 2,281 |
| 21,072 £ 5,397 £ |
Page 24
You Make It Notes to the Accounts 31 March 2021 (continued)
12. Creditors: Amounts falling due within one year
| 12. Creditors: Amounts falling due within one year Trade creditors Accruals Deferred Income Taxation and Social Security 13. Deferred Income Balance at 1 April 2020 Released in the year Deferred in the year Balance at 31 March 2021 |
Total Total 31.03.2021 31.03.2020 3,279 1,010 16,467 11,638 17,700 17,194 6,112 3,783 |
| 43,558 £ 33,625 £ |
|
| Total Total 31.03.2021 31.03.2020 17,194 33,935 (17,194) (33,935) 17,700 17,194 |
|
| 17,700 £ 17,194 £ |
Deferred income comprises income received which related to you Change It courses which were delivered in the first part of the 2021/22 financial year. In the previous year deferred income related to delayed Mentor Training Workshops and income deferred from the Tudor Trust grant relating to staff salaries and as such could not be paid in advance.
| 14. Cash at bank and in hand Cash at bank Petty Cash PayPal |
Total Total 31.03.2021 31.03.2020 312,885 238,470 86 86 30 63 |
|---|---|
| 313,001 £ 238,619 £ |
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You Make It Notes to the Accounts 31 March 2021 (continued)
15. Analysis of charitable funds
15a. Details of charitable funds held and movements during the current reporting period
| Unrestricted Funds Restricted funds Programme Costs CEO Salary Pastoral Care and Counselling Business Development Overheads Ladies' Den Grants Covid-19 Response funds Staff Wellness Total Restricted Funds Total Funds |
Fund balance brought forward Income Expenditure Fund balance at 31.03.2020 31.03.2021 135,464 133,732 (69,388) 199,808 39,058 150,624 (122,858) 66,824 - 15,619 (15,619) - 25,263 45 (7,999) 17,309 3,807 14,041 (15,109) 2,739 3,479 7,266 (9,502) 1,243 4,384 - (200) 4,184 - 48,282 (47,438) 844 - 2,000 (225) 1,775 |
|---|---|
| 75,991 237,877 (218,950) 94,918 |
|
| 211,455 £ 371,609 £ £ (288,338) 294,726 £ |
15b. Details of charitable funds held and movements during the previous reporting period
| Unrestricted Funds Restricted funds Programme Costs CEO Salary Pastoral Care and Counselling Business Development Overheads Ladies' Den Grants Total Restricted Funds Total Funds |
Fund balance brought forward Income Expenditure Fund balance at 31.03.2019 31.03.2020 138,959 82,502 (85,996) 135,464 22,884 98,921 (82,747) 39,058 - 26,381 (26,381) - 22,958 12,060 (9,755) 25,263 - 18,733 (14,926) 3,807 4,000 8,306 8,827 - 3,479 - 5,221 (837) 4,384 |
|---|---|
| 49,842 169,622 (143,473) 75,991 |
|
| 188,801 £ 252,124 £ £ (229,469) 211,455 £ |
Page 26
You Make It Notes to the Accounts 31 March 2021 (continued)
16. Analysis of net assets between funds
| Fixed Assets Current Assets Creditors: amounts falling due within one year |
Unrestricted Funds Restricted Funds Total Funds Total Funds 31.03.21 31.03.20 £ £ £ £ 3,367 844 4,211 1,064 239,445 94,628 334,073 244,016 (43,004) (554) (43,558) (33,625) |
|---|---|
| 199,808 94,918 294,726 211,455 |
17. Transactions with trustees and related parties
None of the trustees have been paid any remuneration or received any other benefits in relation to their role with the charity. No trustees have claimed any expenses in relation to their role.
The aggregate amount of donations and grants made by trustees and people connected with them where no conditions are attached is £7,205 (2020: £7,073).
During each programme, women attending YMI programmes are invited to pitch their business ideas to a panel of business experts at the Ladies’ Den Event. During the 2019-20 financial year The Green Hat Foundation awarded a grant to YMI to administer grants to women to support successful business ideas presented at these events. Ian Quest was a YMI Trustee during the year and he and 3 individuals related to him are also Trustees of Green Hat Foundation CIO when the grant was awarded to YMI. The balance of this fund held at the year end was £4,184, and a total of £200 of grants were administered during the 2020/21 financial year (2020: £837)
Two Trustees (2020:two) provided probono services during the year which are included within donated goods and services:
YMI Trustee Atul Mehta is a Senior Vice president of Publicis Sapient who provided computer equipment to support women on on-line programmes with a value of £2,500 during the year. During the previous financial year Publicis Sapient provided free room hire with a value of £6,600, workshop facilitation with a value of £1,200 and free catering for graduations totalling £750.
During the 2020/21 financial year, YMI trustee Stephanie Collins, facilitated the provision of £15,307 of probono legal advice which was delivered by another staff member at the firm where Stephanie is also employed. During the 2019/20 year Stephanie Collins who is a YMI Trustee also facilitated the provision of £600 of free room hire.
In addition to governance activities, YMI trustees also support the programme itself as volunteers, the value of which is not included within the financial statements but is included in the volunteer hours set out in the Trustees Annual Report. During the year YMI Trustee Ian Quest hosted two workshops (2020: two) and Stephanie Collins who is also a Trustee supported women on the programme as a mentor.
Page 27
You Make It Notes to the Accounts 31 March 2021 (continued)
18. Obligations under operating leases
The company had future commitments under non-cancellable operating leases as follows:
| Payments due in less than 1 year | 31.03.2021 31.03.2020 2,112 2,112 Land and Buildings |
|---|---|
| 2,112 £ 2,112 £ |
The charity has an agreement in place for the use of desk space within a shared workspace. The commitment above relates to a 2 month notice period.
19. Analysis of Grants
| 19. Analysis of Grants | |
|---|---|
| Grants to Individuals | Total Total 31.03.2021 31.03.2020 200 837 |
| 200 £ 837 £ |
Grants were awarded from funds received from The Green Hat foundation in 2019-20 to enable to prevision of start up grants to winners of our Ladies' Den business pitch competition.
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