```
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
```