REGISTERED COMPANY NUMBER: 10277233 (England and Wales)
REGISTERED CHARITY NUMBER: 1171779
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
FOR
INSPIRING GIRLS INTERNATIONAL LIMITED
Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF
INSPIRING GIRLS INTERNATIONAL LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
|
Page |
Report of the Trustees |
1 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Statement of Financial Position |
7 to 8 |
Notes to the Financial Statements |
9 to 15 |
Detailed Statement of Financial Activities |
16 to 17 |
INSPIRING GIRLS INTERNATIONAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31July2020.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
InspiringGirlsInternationalLimitedwasconceivedtoadvanceforthepublicbenefittheeducationof young
girlsaroundtheworldwiththegoalofraisingtheiraspirationsandencouragingthemtoaimhigh. The
campaignaimstopromote,sustainandincreaseindividualandcollectiveknowledgeofyounggirls (aged
10-15years)throughlocalandinternationalcampaignswhichaimatconnectinggirlswithfemale role
models and exposing girls to a variety of jobs, roles and options in life.
Thecampaignalsoaimstodevelopawarenessandunderstandingofyounggirlsabouttheiracademic and
individualcapabilitiesthroughdeliveringeducationaltalksatschools,face-to-facediscussionsand other
educationalevents.Inordertoextendthereachofthecampaignasfaraspossible,InspiringGirlsaims to
provideandpromotethefreeexchangeoftechnologyandknow-howbydevelopingadigitallibrary and
softwareapplicationsavailabletogirlsaroundtheworld,including,inparticular,girlsinareasor countries
with limited access to female role models.
Page 1
INSPIRING GIRLS INTERNATIONAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
OBJECTIVES AND ACTIVITIES Significant activities
Ineachcountryinournetwork,wesetupInspiringGirlswithanationalpartner.Thatpartnermanages the
localcampaign,recruitingwomentovolunteerasrolemodels,promotingInspiringGirlstoschools, and
coordinatingeventsforgroupsofwomenandgirls.InspiringGirlsInternationalnowworksinthe following
countries:
Spain
Italy
Serbia
Mexico
Peru
Costa Rica
Colombia
Chile
Brazil
Honduras
Panama
Switzerland
Singapore
Morocco
Hong Kong
France
USA
Venezuela (on-boarding November 2020)
Uruguay (on-boarding November 2020)
Turkey (on-boarding December 2020)
We have continuing discussions to take our work to India, Russia, Australia and Poland.
Followingareviewofthecharity'scontractedITservicesinSpring2020,InspiringGirlsmigratedall country
partnerstoworkfromGoogleWorkspacefornon-profits,providingmorecentrallyintegrated communication
andcollaborationtools.Aspartofthesamereview,theCRMplatformfortheglobalregistration of
volunteersandschoolswasmovedtoAirtable,andwithasimplifiedmodelthatmadeengagementwith and
managementoftheCRMeasierforcountrypartners.ThenewCRMplatformretainsthepartitioning that
allowscountrypartnerstoprotectandmanagetheirnationaldata.Thesechangeshave increased
productivity and resulted in significant annual savings for the charity centrally.
TheTrusteesarepleasedtoreportthatthecharityhasenteredathree-yearsponsorshipagreement with
BBVAfrom13January2020.Aproposaltoringfenceanddistributeapercentageoffundingfrom global
sponsorswhohaveaninterestinparticularregionswasagreedattheJune2020TrusteeBoardmeeting. A
dueprocessforthedistributionoftheserestrictedfundswasestablishedinconsultationwithourpro bono
legal advisors.
In March 2020 the charity established its first payroll, employing two full time staff members.
Public benefit
The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.
Page 2
INSPIRING GIRLS INTERNATIONAL LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2020
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Initsfirstyear,InspiringGirlssuccessfullylaunchedthecampaigninSerbia,SpainandItalywith national
partnerswhoarewell-connectedwithschools,government,influentialwomen,themedia,NGO'sand the
private sector.
Duringthesecondyear,theInspiringGirlscampaignexpandedtoanother6countries.Ournetwork has
organisedavarietyofthematiceventsinvolvingwomenrolemodelsmeetingandspeakingwithgirls, for
example'womeninmedia'and'womeninenergy'.Questionnairesandinterviewscompletedafter events
help us monitor and measure the impact of our activities.
Thecharitynowworksin20countries,asnotedintheparagraphheaded"SignificantActivities", which
meets our goal of establishing 20 country campaigns in 2020.
TheonlineVideoHubfullydevelopedover2019andwasofficiallylaunchedatthefirstInspiringGirls Global
SummiteventinLondonon16October2019.Thisdigitalresourceconsistsofacollectionofshort, filmed
interviewsoffemalerolemodelsonline.TheHubprovidesgirlswithawidevarietyoffemalerole models
acrossvaryingcareersandgirlsareabletoaccesstheresourcesontheirownwithouttaking-upschool and
teachercapacity.TheHubwasinitiallylaunchedwithEnglishandSpanishpagestoreflecttheweighting of
Spanish-speakingcountriesinthemakeupofthecampaignnetwork.Overspring/summer2020this was
expandedtoincludeportalstoItalian,French,PortugueseandSerbianlanguagepages.Ouraimisfor the
HubtoincludevideosavailableinthelanguagesofallcountriesintheInspiringGirlsglobalnetwork as
expansioncontinuesandnecessaryfundingsecured.TheHubisavailableatthisweb address:
https://videohub.inspiring-girls.com
Fromtheoutsetof2020,Covid-19hasposedincreasingchallengestoourlocalpartnersintermsof reaching
girlsamidschoolclosuresandsustainingcampaignvisibilitywithCovidrestrictionssuspending planned
in-personevents.Teamshavemetthischallengebypivotingtodigitalplatformsininnovativeways. By
June2020theItalyteammoderated65onlinemeetingswithvolunteersthatreachedover1,500 students;
whiletheteaminPeru(incollaborationwithteamsinMexicoandColombia)beganrunningweekly webinars
that have steadily grown the community of girls being reached.
Ourlocalpartnersineachcountrycontinuetodeveloprelationshipswithkeygovernmentinterlocutors to
raiseawarenessofissuesaroundgenderinequalityandcollaborateonactivities.Forexample,the Brazil
team'sdialoguewiththeSecretaryofEducationandschoolsledtogirlsundertakingonlineclassesinRio de
Janeiro and São Paulo.
Lookingaheadto2021,thecharity'sstrategicobjectiveswillfocusonactivitiesthat(i)utilisenew and
existingadvisoryandcommunicationnetworkstoincreasetheglobalprofileofInspiringGirls,(ii) strengthen
andexpandtheexistingcountryteamnetwork,(iii)expandanddeveloponlineInspiringGirlsprojects for
globaluse,includingthefurtherexpansionoftheVideoHub,and(iv)pursueamulti-streamapproach to
fundraising targets in order to meet the growing ambitions of the charity.
FINANCIAL REVIEW
Financial position
TheTrusteesaresatisfiedwiththeperformanceoftheCharityfortheyearandwiththefinancialposition at
31 July 2020.
Reserves policy
Areservehasnotbeenestablishedduetoongoingoperationalneeds.Thetrusteeshaveagreedto the
proposalofestablishingareserveof£10,000onceaminimumofthresholdissustainedinthe charity's
current account for a 3 month period. To be reviewed at subsequent Board meetings as funding develops.
Page 3
INSPIRING GIRLS INTERNATIONAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10277233 (England and Wales)
Registered Charity number
1171779
Registered office
2-4 King Street
St James's
London
SW1Y 6QP
Trustees
Ms N Ali
Ms M Gonzalez
Ms N Hertz
Ms B Lucena (appointed 10.1.2020)
Ms G M Muinzer
D Wills
J Holt (appointed 15.6.2020)
Independent Examiner
Ruth Jacobs
ICAEW
Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF
COMMENCEMENT OF ACTIVITIES
Thecompanywasincorporatedon13July2016.Itwasregisteredasacharityon24February2017 and
commenced its activities shortly after.
Approved by order of the board of trustees on 3 December 2020 and signed on its behalf by:
Ms M Gonzalez - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
INSPIRING GIRLS INTERNATIONAL LIMITED
Independent examiner's report to the trustees of Inspiring Girls International Limited ('the Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 July 2020.
Responsibilities and basis of report
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16of the
2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').Incarrying out
myexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection145(5)(b) of
the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody. I
canconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberof ICAEW
which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnection 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)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Ruth Jacobs
ICAEW
Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF
17 December 2020
Page 5
INSPIRING GIRLS INTERNATIONAL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
339,936
Investment income
3
28
Other income
-
Total
339,964
EXPENDITURE ON
Raising funds
-
Charitable activities
4
Charitable activities
362,099
Other
235
Total
362,334
NET INCOME/(EXPENDITURE)
(22,370)
RECONCILIATION OF FUNDS
Total funds brought forward
81,008
TOTAL FUNDS CARRIED FORWARD
58,638 |
Restricted
funds
£
62,795
-
-
62,795
-
41,800
-
41,800
20,995
-
20,995 |
31.7.20
Total
funds
£
402,731
28
-
402,759
-
403,899
235
404,134
(1,375)
81,008
79,633 |
31.7.19
Total
funds
£
270,927
24
1
270,952
890
185,166
1,117
187,173
83,779
(2,771)
81,008 |
|
|
|
|
The notes form part of these financial statements
Page 6
INSPIRING GIRLS INTERNATIONAL LIMITED
STATEMENT OF FINANCIAL POSITION 31 JULY 2020
|
|
|
|
31.7.20 |
31.7.19 |
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
|
Notes |
£ |
£ |
£ |
£ |
FIXED ASSETS |
|
|
|
|
|
Intangible assets |
10 |
- |
- |
- |
3,371 |
CURRENT ASSETS |
|
|
|
|
|
Debtors |
11 |
2,369 |
- |
2,369 |
2,272 |
Cash at bank |
|
65,150 |
22,794 |
87,944 |
86,649 |
|
|
67,519 |
22,794 |
90,313 |
88,921 |
CREDITORS |
|
|
|
|
|
Amounts falling due within one year |
12 |
(8,881) |
(1,799) |
(10,680) |
(11,284) |
NET CURRENT ASSETS |
|
58,638 |
20,995 |
79,633 |
77,637 |
TOTAL ASSETS LESS CURRENT |
|
|
|
|
|
LIABILITIES |
|
58,638 |
20,995 |
79,633 |
81,008 |
NET ASSETS |
|
58,638 |
20,995 |
79,633 |
81,008 |
FUNDS |
13 |
|
|
|
|
Unrestricted funds |
|
|
|
58,638 |
81,008 |
Restricted funds |
|
|
|
20,995 |
- |
TOTAL FUNDS |
|
|
|
79,633 |
81,008 |
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006 for
the year ended 31 July 2020.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
INSPIRING GIRLS INTERNATIONAL LIMITED
STATEMENT OF FINANCIAL POSITION - continued 31 JULY 2020
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
3 December 2020 and were signed on its behalf by:
M Gonzalez - Trustee
The notes form part of these financial statements
Page 8
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.
DonatedservicesandfacilitiesareincludedintheSOFAwhenreceivedatthevalueofthegiftto the
charity provided the value of the gift can be measured reliably.
Donatedservicesandfacilitiesthatareconsumedimmediatelyarerecognisedasincomewith an
equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Intangible assets
Intangibleassetscompriseexpenditureonthewebsite.Thewebsitehasanestimatedusefullife of
three years.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesin the
period to which they relate.
continued...
Page 9
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
2. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
Donations
Donated services and facilities |
31.7.20
£
197,231
205,500
402,731 |
31.7.19
£
167,063
103,864 |
|
|
270,927 |
Thecharityusesitsonlineplatformtorecruitvolunteerstoactasrolemodels.Volunteersare asked
toprovideonehourperyearoftheirtimetovisitaschoolorparticipateinsomeotheractivityfor the
campaign.Thecontributionofthesevolunteersishugelyvaluedbythecharity,butitisdifficult to
reliably measure the contribution for accounting purposes, so it is not included as income.
TheVideoHubcontainsshortself-recordedinterviewsoffemalerolemodelstalkingabouttheir job
andlifeexperiencestobroadentheunderstandingforgirlsoftherangeofdifferentjobswithin each
sectoraswellasthevarietyofcareerpathsthatarepossible.TheVideoHubremovesthe geographic
barrierforgirlstoaccesstheadviceofwomenrolemodelsthroughtheInspiringGirls campaign.
Thesecontributionshavebeenmadefreeofcharge,andassuchnoincomehasbeenrecognized in
the accounts from the provision of this valuable resource.
3. INVESTMENT INCOME
|
|
|
31.7.20 |
31.7.19 |
|
|
|
£ |
£ |
Interest received |
|
|
28 |
24 |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
|
Grant |
|
|
|
Direct |
funding of |
Support |
|
|
Costs |
activities |
costs |
Totals |
|
£ |
£ |
£ |
£ |
Charitable activities |
118,834 |
40,001 |
245,064 |
403,899 |
4. CHARITABLE ACTIVITIES COSTS
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
31.7.20 |
31.7.19 |
|
£ |
£ |
Development costs amortisation |
3,371 |
6,858 |
continued...
Page 10
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2020
6. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31July2020norfor the
year ended 31 July 2019.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31July2020norfortheyear ended
31 July 2019.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
31.7.20 |
31.7.19 |
Support activities |
2 |
- |
No employees received emoluments in excess of £60,000.
UntilMarch2020thecharityhadreliedontheservicesofexternalconsultantstofulfil the
responsibilitiesofcertainmanagerialandsupportroles.InMarch2020someofthoseduties were
brought "in-house" and two members of staff appointed.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
All fund income and expenditure for the period 1 August 2018 to 31 July 2019 was unrestricted.
9. FEES FOR THE EXAMINATION OF THE ACCOUNTS
£1,152waspaidtotheindependentexaminer.Thisincludedafeefortheindependentexamination of
£384, with the remainder being for the provision of accountancy services.
continued...
Page 11
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
10. INTANGIBLE FIXED ASSETS
INTANGIBLE FIXED ASSETS |
|
|
Development |
|
costs |
|
£ |
COST |
|
At 1 August 2019 |
19,762 |
Disposals |
(19,762) |
At 31 July 2020 |
- |
AMORTISATION |
|
At 1 August 2019 |
16,391 |
Charge for year |
3,371 |
Eliminated on disposal |
(19,762) |
At 31 July 2020 |
- |
NET BOOK VALUE |
|
At 31 July 2020 |
- |
At 31 July 2019 |
3,371 |
Duringthefinancialyearthecharitydiscontinuedtheusemadeofitsoriginalwebsiteand database
and has this asset has been written out of the books.
The charity's volunteer database and website are now held on separate, subscription-based platforms.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
31.7.20 |
31.7.19 |
|
£ |
£ |
Trade debtors |
792 |
- |
Other debtors |
1,200 |
- |
Prepayments |
377 |
2,272 |
|
2,369 |
2,272 |
continued...
Page 12
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2020
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE |
YEAR |
|
|
31.7.20 |
31.7.19 |
|
£ |
£ |
Trade creditors |
1,996 |
3,975 |
Social security and other taxes |
2,749 |
- |
Accrued expenses and deferred income |
5,935 |
7,309 |
|
10,680 |
11,284 |
13. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Video Hub Fund
Restricted funds
Inspiring Girls International - Peru
Inspiring Girls International - Brazil
Inspriring Girls International - USA
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Video Hub Fund
Restricted funds
Inspiring Girls International - Spain
Inspiring Girls International - Colombia
Inspiring Girls International - Mexico
Inspiring Girls International - Peru
Inspiring Girls International - Brazil
Inspriring Girls International - USA
TOTAL FUNDS |
At 1.8.19
£
58,636
22,372
81,008
-
-
-
-
81,008
Incoming
resources
£
336,965
2,999
339,964
27,506
6,258
6,237
6,237
6,557
10,000
62,795
402,759 |
Net
movement
At
in funds
31.7.20
£
£
(2,323)
56,313
(20,047)
2,325
(22,370)
58,638
6,237
6,237
6,557
6,557
8,201
8,201
20,995
20,995
(1,375)
79,633
Resources
Movement
expended
in funds
£
£
(339,288)
(2,323)
(23,046)
(20,047)
(362,334)
(22,370)
(27,506)
-
(6,258)
-
(6,237)
-
-
6,237
-
6,557
(1,799)
8,201
(41,800)
20,995
(404,134)
(1,375) |
|
|
|
continued...
Page 13
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
|
|
Net |
|
|
|
movement |
At |
|
At 1.8.18 |
in funds |
31.7.19 |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
(2,771) |
61,407 |
58,636 |
Video Hub Fund |
- |
22,372 |
22,372 |
|
(2,771) |
83,779 |
81,008 |
TOTAL FUNDS |
(2,771) |
83,779 |
81,008 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Video Hub Fund
TOTAL FUNDS |
Incoming
resources
£
239,403
31,549
270,952
270,952 |
Resources
Movement
expended
in funds
£
£
(177,996)
61,407
(9,177)
22,372
(187,173)
83,779
(187,173)
83,779 |
|
|
|
14. OTHER FINANCIAL COMMITMENTS
Inthepursuanceofitscharitableaims,thecharityhasmadefinancialcommitmentsinrespectof local
teamsestablishedinColombia,Mexico,andPeru.Thecharityiscommittedtomakingdonations of
$24,000toeachoftheseteams($72,000total)overathreeyearperiod.At31July2020 $56,000
remainedoutstanding.Thesecommitmentsarecontingentonthecontinuanceofreciprocal inward
donations to the charity.
Therewasanoutstandingcommitmentof$8,000at31July2020inconnectionwiththe establishment
of a local team in Brazil.
Afinancialcommitmentof€90,000over3yearswasmadeinconnectionwiththeestablishmentof a
localteaminSpain.At31July2020€60,000remainedoutstanding.Thiscommitmentis also
contingent on the continuance of reciprocal inward donations to the charity
Thecharityenteredintoasix-monthcontractwithRefoldatoprovideexecutiveservicesin connection
withtheestablishmentofInspiringGirlsUSA.Thecommitmentoutstandingat31July2020 was
$10,400
continued...
Page 14
INSPIRING GIRLS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2020
15. RELATED PARTY DISCLOSURES
Duringtheperiod1August2019to31July2020probonolegaladviceandsupportwasprovided by
DechertLLP.MsM.Gonzalez,oneofthetrustees,wasapartnerinthisfirmuntil31December 2018.
This support has been valued at £170,500
From1August2019to31July2020officespace,administrationsupportandfacilitieswere provided
byCohen&GresserLLP.Thevalueofthisservicewas£35,000.Ms.M.GonzalezisOfCounsel in
Cohen & Gresser LLP.
Allamountsenumeratedintheforegoingparagraphshavebeenrecognizedintheaccounts in
accordance with the disclosed policy for donated services and facilities.
Duringtheyear,anunrestricteddonationof£4,000wasreceivedfromoneofthetrustees.Twoof the
trusteesmadedonationstotalling£10,000specificallyfortheestablishmentofInspiring Girls
International in the USA.
One of the trustees defrayed part of the costs of the Global Summit event costs amounting to £1,279
16. GOING CONCERN
Thetrusteeshaveconsideredthefinancialcircumstancesofthecharityattheendofthe reporting
period.
Atthebalancesheetdatethecharityhadtotalfundsamountingto£79,633andit'scashposition was
£87,944 in hand.
Thetrusteesremainconfidentthatthecharitywillbeabletocontinuetomeetitsliabilitiesasthey fall
due.
Page 15
INSPIRING GIRLS INTERNATIONAL LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
|
31.7.20 |
31.7.19 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
197,231 |
167,063 |
Donated services and facilities |
205,500 |
103,864 |
|
402,731 |
270,927 |
Investment income |
|
|
Interest received |
28 |
24 |
Other income |
|
|
Exchange gain |
- |
1 |
Total incoming resources |
402,759 |
270,952 |
EXPENDITURE |
|
|
Raising donations and legacies |
|
|
Fundraising stationery |
- |
628 |
Sundries |
- |
262 |
|
- |
890 |
Charitable activities |
|
|
Website and social media |
10,477 |
6,384 |
Filming |
17,947 |
6,406 |
Consultancy |
57,253 |
55,608 |
Subscriptions |
4,463 |
5,137 |
Summit costs |
24,501 |
- |
Travel expenses |
821 |
- |
Amortisation of intangible fixed assets |
3,372 |
6,857 |
Grants paid to Inspiring Girls local teams |
40,001 |
- |
|
158,835 |
80,392 |
Support costs |
|
|
Management |
|
|
Wages |
32,124 |
- |
Social security |
1,375 |
- |
Pensions |
1,863 |
- |
Sundries |
1,450 |
474 |
Rent and office facilities |
15,000 |
7,117 |
Legal & professional fees |
190,790 |
96,747 |
Carried forward |
242,602 |
104,338 |
This page does not form part of the statutory financial statements
Page 16
INSPIRING GIRLS INTERNATIONAL LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020
|
31.7.20 |
31.7.19 |
|
£ |
£ |
Management |
|
|
Brought forward |
242,602 |
104,338 |
Accountancy fees |
1,766 |
768 |
Exchange differences |
114 |
- |
|
244,482 |
105,106 |
Finance |
|
|
Insurance |
185 |
185 |
Bank fees and charges |
235 |
203 |
|
420 |
388 |
Governance costs |
|
|
Accountancy fees |
384 |
384 |
Legal fees |
13 |
13 |
|
397 |
397 |
Total resources expended |
404,134 |
187,173 |
Net (expenditure)/income |
(1,375) |
83,779 |
This page does not form part of the statutory financial statements
Page 17