## **WOMEN OF WORTH**
## **Unaudited Financial Statements for the 12 months ending 31[st] March 2021**
## **Registered Charity No. 1169976**
## **Women of Worth Unaudited Financial Statements for the 12 Month Period Ended 31[st] March 2021 Contents**
|Trustees’ Annual Report|3-8|
|---|---|
|Independent Examiner’s Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Financial Statements|12-16|
2
## **Women of Worth Trustees’ Annual Report For the 12 Month Period Ended 31[st] March 2021**
## **Introduction**
The trustees of Women of Worth (WOW) present their annual report for the year ending 31[st] March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note one to the financial statements and comply with the charity's Constitution and the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).
## **Chair’s Report**
I am pleased to act as Chair for this current year and to date, and report on the activities, achievements and performance as follows:
The Women of Worth charity was registered on 1[st] November 2016 to continue the good work started in early 2016 as a non-profit organisation. The charity has made remarkable progress in this 12 month period.
I am pleased to report on the following achievements of the charity during the year:
Referrals have increased for domestic abuse and mental health during the pandemic. We have adapted due to covid and instead of running groups in the centre we went out into the community.
We did covid risk assessments and gained covid assured premises in August 2020. We did weekly welfare checks on all service users.
Sent three packs out to service users which were,
1 - Covid packs due to change in circumstances containing masks, gloves and hand sanitizer.
2 - To do pack - containing mindfulness books, colouring books, crayons and lip balm.
3 - Wellbeing/pamper packs - Lavender oil, bath soaps and chocolate.
Cards were also sent as a hug in the post
Food parcels were delivered and doorstep visits if clients were at a level of concern or had a history of domestic violence.
One to one sessions did commence on Jan & Feb 21 for service users who were really vulnerable or social isolated.
Staff has completed the following training:Bereavement training Covid training from the local authority Safeguarding online training Suicide training Health and safety level 3
Our audits have been of a high quality and all feedback has been very positive We have been successful in a number of funding applications.
My thanks go out to all the team that have worked hard with myself and my fellow trustees to make this possible.
Sonia Moran(Chair)
3
## **Women of Worth Trustees’ Annual Report For the 12 Month Period Ended 31[st] March 2021 (continued)**
## **Mission Statement**
To provide tailored support to enable women to find their own capacity in order to help themselves become more resilient, increase self-efficacy and fulfil their true potential.
## **Beliefs and Aims**
All staff has a belief that women can make positive changes in their lives and we provide then with the help and support to give them hope to believe they can face and deal with adversity. By providing oneto one support, group activities, advice, information, access to specialist services and support we strive to empower women to become independent and more informed. We aim to make “Women of Worth”.
## **Our Values and Vision**
Our values are to respect the dignity of every woman accessing services without conditions or limitations. We do this by promoting a culture of honesty and adopting a non-judgemental approach to work. We are not afraid to champion new and different ways of working to adapt and move with the times and current presenting issues.
Our vision is to build up a local community where all women, especially those identified as vulnerable or marginalised, can grow and thrive to regain their status as ‘Women of Worth’. We will continue to provide tailored support to enable women to find their own capacity to help themselves, become more resilient, increase self-efficacy and fulfil their true potential.
## **Objects of the Charity**
WOW was set up for the relief of women and their children who are in need, by reason of youth, age, ill health, disability, financial hardship or other disadvantage; by the provision of support, information, advice and any activities designed to relieve those needs.
WOW is a women’s only community project providing specialist needs-led support services for women who are vulnerable, have multiple complex needs and who are often isolated and excluded from society because of their lifestyle circumstances. WOW is based in a deprived area with low socio-economic status and most of the families are on benefits. Common presenting issues are alcohol and drugs dependency, difficulties with mental and physical health, relationships, offending, problems managing emotions and anger, domestic abuse, debt, lack of work experience, housing issues and a lack of education and employment skills.
Referrals to the centre are from a range of statutory and voluntary agencies such as Mental Health Team, Domestic Violence Organisations, Police, Town Centre Shops, Holding Families/Troubled Families and City Hearts, the latter referring women who have been trafficked.
The Centre aims to offer a safe and supportive environment run by women for women, without exclusion.
We strive:
- to help women become emotionally resilient, stronger and more independent.
- to support women to achieve aims, reach potential and work towards their own personal fulfilment.
- to strengthen social inclusion and increase economic proficiency therefore reducing oppression, inequality and social segregation
4
The Centre provides a rolling programme of workshops that are relevant to women. These learning programmes provide the stepping stones to increase self-belief and improved levels of confidence, enabling women to address their issues and build a better life for themselves and their families.
## **Women of Worth Trustees’ Annual Report For the 12 Month Period Ended 31[st] March 2021 (continued)**
## _Statement of Public Benefit_
In meeting these objects, the charity’s public benefit aim is to maintain, complete and apply for funding that supports activities as detailed above. The charity has met its objectives by sticking to the guidelines of the grants applied for.
In setting out policy and planning these activities the trustees have given consideration to the Charity Commission’s general guidance on public benefit.
The Charities Act identifies thirteen charitable purposes as being for the public benefit. Women of Worth meets the public benefit principles by focusing on fou of those charitable purposes:
- the advancement of education.
- the advancement of health or the saving of lives.
- the advancement of community development.
- the advancement of human rights.
## **Financial Review**
Wow relies on a combination of statutory funding and smaller charitable grants mainly focused on services for women. As an organisation we have a fundraising strategy and are actively involved in fundraising activities. WOW works hard to ensure that the service provided is inclusive and that users of the service are involved in every aspect of our service. This includes service user involvement in raising funds through the creation of products made by them which are sold to raise funds. We also rely on charitable donations.
The current 12 month period of activity has seen a slow build up in the core funds to the effect that the core funds stand at £64,899 at the 31[st] March 2021. The trustees are actively working on new sources of income and funding bids.
## _Reserves Policy and Going Concern_
Reserves are considered to be that part of the Trust’s funds which are freely available for its general purpose after it has met its commitments and covered its other planned expenditure. These unrestricted funds are needed to bridge the gap between the spending and receiving of income and to cover administrative, fundraising and support costs without which the Trust could not function. The trustees consider that the ideal level of reserves as at 31st March 2021 would be in the region of £10k being 6 months of core administration costs at their current level for insurance, accounting, governance and general admin. The unrestricted reserves were standing at £16,039 at 31st March 2021 and the trustees consider these adequate. Since the period end there has been no unexpected expenditure and the viability of the charity remains financially sound.
5
## **Women of Worth Trustees’ Annual Report For the 12 Month Period Ended 31[st] March 2021 (continued)**
## **Reference and Administrative Information**
Charity Number: 1169976 Registered Office: Bridge House, No 5-9, 1 Stand Lane, Radcliffe, Manchester, M26 1NW
## _Advisors_
Independent Examiner: Andrew Fry ACMA The Old Court House, Chapel Street, Dukinfield, SK16 4DT Bankers: Lloyds Bank 1 Legg Street, Chelmsford, Essex, CM1 1JS Bookkeeping & Finance: A Mead Bookkeeping Exchange Street, Edenfield, Rossendale, BL0 0LA
## _Trustees_
The Trustees serving during the year and since the period end were as follows:
Chair: Ms Sonia Moran Treasurer: Ms Dawn Giamas MBE Secretary: Ms Hellen Perry Trustee: Ms Giselle Williams Trustee: Ms Natasha Gollem (appointed 27 September 2019)
## **Structure, Governance and Management**
## _Governing Document_
Women of Worth is a charitable incorporated organisation governed by its Constitution and was registered as a charity with the Charity Commission on 1[st] November 2016.
## _Appointment of Trustees_
The first trustees Sonia Moran, Dawn Giamas and Hellen Perry were appointed through its Constitution dated 1[st] October 2016. There should be a minimum of two trustees and trustees are recruited to ensure that the board of trustees has the requisite range of experience and skills to effectively manage the Trust.
## _Organisation_
The board of trustees administers the charity. The trustees meet independently and liaise regularly in person, by email and telephone. The board normally meets quarterly and collates information prepared by the bookkeeper, treasurer and the Chair. A precis of the reports is presented to the quarterly board meeting. Since the year end there has been a number of changes in the Board of Trustees:
_Related parties and co-operation with other organisations_
6
Certain trustees have received remuneration for their work providing specialist services to the charity, in accordance with Charities Act 2011 (CC11 Section 4). In the current year those services were provided as project/support work. No remuneration has been provided to any trustee in their capacity of charity trustee nor under any contract of employment.
## **Women of Worth Trustees’ Annual Report For the 12 Month Period Ended 31[st] March 2021 (continued)**
## _Risk Management_
The monitoring and management of risk is a dynamic process and the charity faces some level of risk in the activities, events and contracts that it engages in. The trustees have a risk management strategy which comprises:
- ongoing review of the principal risks and uncertainties that the charity may face;
- the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
- the implementation of procedures designed to minimise or manage any potential impact the charity should those risks materialise.
- Governance risks - eg inappropriate organisational structure, difficulties recruiting trustees with relevant skills, conflict of interest;
- Financial risks - eg accuracy and timeliness of financial information, adequacy of reserves and cash flow, diversity of income sources;
- External risks - eg public perception and adverse publicity, demographic changes, government policy;
- Compliance with law and regulation - eg breach of trust law and regulatory requirements of particular activities such as fund-raising.
The charity’s review of its risk management will continue to help ensure:
- the charity’s aims are achieved more effectively;
- significant risks are known and monitored enabling trustees to make a more effective contribution;
- there is improved forward planning
7
## **Women of Worth Trustees’ Annual Report For the 12 Month Period Ended 31[st] March 2021 (continued)**
## **Trustees’ Responsibilities in Relation to the Financial Statements**
The trustees, who are also the directors of Women of Worth for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that 12 month period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements 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 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved on behalf of the Trustees
…………………………………………………..
S Moran Date…18/01/2022……………….
8
Trustee
………………………………………………….. H Perry Date………18/02/2022…………. Trustee
## **Women of Worth Independent Examiner’s Report To the Trustees of Women of Worth For the 12 Month Period Ended 31st March 2021**
I report to the trustees on my examination of the financial statements of Women of Worth for the year ending 31 March 2021.
## **Responsibilities and basis of report**
This report is made solely to the charity's trustees, as a body, in accordance with Section 145(5)(b) of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed.
## **Independent examiner's statement**
The trustees are responsible for the preparation of the financial statements for the year ended 31[st] March 2021 set out on pages 10 to 18 and you consider that the company is exempt from audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist your statutory responsibilities, from the accounting records and information and explanations supplied to us.
## **Andrew Fry ACMA**
Frynance Ltd Chartered Management Accountant The Old Court House Chapel Street Dukinfield
9
SK16 4DT
Dated.. 1910112022
## **Women of Worth Statement of Financial Activities (Incorporating the Income and Expenditure Account) For the 12 Month Period Ended 31[st] March 2021**
|**Unrestricte**
**d**
**Funds**
**2021**|**Restricte**
**d Funds**
**2021**
**Total**
**Funds**
**2021**
**£**
**£**
0)
1,500
106,811
106,811|
|---|---|
|**Notes**
**£**||
|**Income and endowments from:**||
|Donations and legacies
**4**
1,500)||
|Charitable activities
**6**
0)||
|**Total income and endowments**
**1,500**|**106,811**
**108,311**|
|**Expenditure on:**|(76,476)
(84,727)|
|Charitable activities
**7**
(8,251)||
|**Total expenditure**
**(8,251)**|**(76,476)**
**(84,727)**|
|Net income
**9**
(6,751)|30,336
23,584
(247)
0|
|Transfers between funds
247||
|**Net movement in funds**
**(6,505)**|**30,089**
**23,584**
18,771
41,315|
|**Reconciliation of funds**||
|Total funds brought forward
22,544||
|**Total funds carried forward**
**16,039**|**48,860**
**64,899**|
|||
All of the above amounts relate to continuing activities.
11
## **Women of Worth Balance Sheet As at 31[st] March 2021**
|Notes|**Mar-21**
**Mar-21**|
|---|---|
||**£**
**£**|
|**Fixed Assets**||
|Equipment
**10**|2,616|
|||
|**Current Assets**||
|Cash at bank|62,433|
||62,433|
|**Creditors: amounts falling due within one year**
**11**|150|
|**Net current assets**|62,283|
|Total assets less current liabilities|64,899|
|**Net assets**|64,899|
|||
|**Funds**
**12**||
|Unrestricted funds|16,039|
|Restricted funds|48,860|
|**Total funds**|64,899|
The accounts were approved by the Board on 17th January 2022.
S Moran Trustee
…… ………………….. H Perry Trustee
**Women of Worth**
12
## **Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
## **1. Accounting policies**
Women of Worth is an incorporated charity registered in England and Wales. The registered office is Bridge House, No 5-9, 1 Stand Lane, Radcliffe, M26 1NW
## _Accounting Convention_
The financial statements have been prepared in accordance with the charity's Constitution, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
## _Going Concern_
The financial statements have been prepared on the going concern basis.
## _Income_
Voluntary income, including donations, gifts and legacies, and grants that provide core funding or are of a general nature are recognised where there is entitlement; where any performance conditions have been met; where it is probable that the income will be received, and the amount can be measured reliably. Income received in advance of a specific project would be deferred until the criteria for income recognition are met.
## _Donated Services and Facilities_
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that the economic benefit can be measured reliably.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## _Fund Accounting_
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are received for specific activities. Once those activities have been completed any minor funds remaining are transferred to the unrestricted funds to set against overheads. 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. There were no designated received in the current financial period.
## _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 as follows:
- Expenditure on charitable activities includes grants payable and other administration costs to further the purposes of the charity.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
13
## **Women of Worth Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
## _Corporation Tax_
As a registered charity the Company benefits from various exemptions from taxation, afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.
## _Tangible Fixed Assets_
All equipment is valued at cost and depreciated as follows: IT equipment: Over 3 years (33.3% straight line) Other equipment: Over 4 years (25% straight line)
## _Debtors_
Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid at the end of the year.
## _Cash at bank and at hand_
Cash at bank includes cash and monies held in the current bank account.
## _Creditors_
Creditors and accruals are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
## **2. Critical Accounting Estimates and Judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period of the revision and future periods where the revision affects both current and future periods.
## **3. Legal Status**
The Charity is registered with the Charities Commission and is governed by its Constitution.
## **4. Income from Donations and Legacies**
||**Unrestricted**
**2021**
**Total 2021**|
|---|---|
||**£**
**£**|
|Donation|1,500
1,500|
|Donated IT equipment|0
0|
||**1,500**
**1,500**|
14
## **Women of Worth Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
## **5. Income from Charitable Activities**
||**Unrestricted**
**2021**
**Total 2021**|
|---|---|
||**£**
**£**|
|Donation|1,500
1,500|
|Donated IT equipment|0
0|
||**1,500**
**1,500**|
## **6. Expenditure on Charitable Activities**
||**Unrestricted**|**Unrestricted**|**Restricted**
**Total**|**Restricted**
**Total**|
|---|---|---|---|---|
|||**2021**|**2021**||
|Subcontractors||0|58,468
58,468||
|Insurance||469|0
469||
|Rent||0|13,560
13,560||
|Admin Costs||4,138|0|4,138|
|Independent Examiners Fee||150|0|150|
|Equipment||0|3,749|3,749|
|Training Costs||0|40|40|
|
Travel||590|0|590|
|Therapies||0|658|658|
|Depreciation||2,904|0|2,904|
||||||
|||**8,251**|**76,476**
**84,727**||
15
## **Women of Worth Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
## **7. Analysis of Governance and Support Costs**
||**Total 2021**|
|---|---|
|General Office|4,138|
|Independent examiners fee|150|
|Accountancy|0|
||4,288|
## **8. Trustees**
None of the trustees (or any person connected to them) received any remuneration for trustee duties during the year. Fees received as specialist support workers subcontracted to the charity were as follows:
S Moran £22,584 D Giamas £20,584 H Perry £10,200
Reimbursed business and travel expenditure to the trustees was as follows:
S Moran £483
## **9. Employees**
There were no employees of Women of Worth
## **10. Equipment**
||IT Equipment|Other
Equipment
Total|
|---|---|---|
||£|£
£|
|Brought Forward 1st April 2020|3,840|3,443
7,283|
|
Additions|0|1,620
1,620|
|Total|3,840|5,063
8,903|
||||
|Depreciation brought forward|2,195|1,188
3,383|
|
Depreciation charge|1,425|1,479
2,904|
|Total|3,620|2,667
6,287|
||||
|Net Book Value 31st March 2021|220|2,396
2,616|
16
## **Women of Worth Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
## **11. Creditors: amounts falling due within one year**
||**Unrestricted**
**2021**|**Total**
**2021**
**£**|
|---|---|---|
||**£**||
|Accruals and deferred income|150|150|
||**150**|**150**|
## **12. Analysis of Charitable Funds**
## **Analysis of movements – current financial year**
**----- Start of picture text -----**
Balance Income Expenditure Transfers Balance
31-Mar-20 31-Mar-21
£ £ £ £ £
Unrestricted fund 22,544 1,500 -8,251 247 16,039
Restricted fund 18,771 106,811 -76,476 -247 48,860
Total 41,315 108,311 -84,727 0 64,899
**----- End of picture text -----**
## **Restricted Funds as 31[st] March 2021**
||**£**|
|---|---|
|Brought forward|3,515|
|GMCA 20|7,771|
|Big Lottery|5,026|
|National Lottery|521|
|Forever|574|
|National Lottery
Covid|5,567|
|Winter Discharge
Fund|1,338|
|Big Lottery 2021|20,000|
|Outreach|2,148|
|Bury Resilience|1,000|
|**Total**|**47,461**|
**Women of Worth**
17
## **Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
## **13. Analysis of Net Assets Between Funds**
||**Unrestricted**
**Fund**|**Restricted**
**Fund**
**Balance**|
|---|---|---|
||**£**|**£**
**31-Mar-21**|
|||**£**|
||||
|Equipment|2,616|0
2,616|
|Cash at bank|13,573|48,860
62,433|
|Current liabilities|-150|0
-150|
|**Total**|**16,039**|**48,860**
**64,899**|
## **14. Post Balance Sheet Events**
There are no post balance sheet events to report.
**Women of Worth**
18
## **Income and Expenditure Account For the 12 Month Period ended 31 March 2021**
||**2021**|**2021**|**2021**
**£**
1,500
106,811
**108,311**
**84,727**
**23,584**|
|---|---|---|---|
||**£**|||
||**Income**|||
||Donations|||
||Grants receivable|||
||**Total incoming**
**resources**|||
||**Expenditure**|||
||Subcontractor
costs
58,468|||
||Insurance
469|||
||Rent
13,560|||
||Admin costs|4,138||
||Independent
examiners fee|150||
||Equipment|3,749||
||Training costs|40||
||Travel|590||
||Therapies|658||
||Depreciation|2,904||
||**Total outgoing**
**resources**|||
||**Net income**|||
|||||
|||||
|||||
19