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2021-10-18-accounts

Registered Company Number: CEO13613 England and Wales Registered Charity Number: 1177669

Trustees Report and independently examined Financial Accounts For the Year Ended 18 October 2021

Sister System Studio 26, The Trampery 639 High Road London N17 8AA

Contents of the Financial Statements

Content Page
Trustee’s Report 3-8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance sheet 11
Notes to the Financial Statements 12-18

Page 2

TRUSTEE’S REPORT

The trustees present their report and financial statements of the charity for the year ended 18 October 2021. The board of trustees is satisfied with the performance of the charity during the year and the position at the year end and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.

OBJECTIVES AND ACTIVITIES

The Objectives of the Charity are set out in its governing document. These are:

ACTIVITIES AND PERFORMANCE

The Board of Trustees is pleased to present Sister System’s third full year of impact.

In the past year, Sister System has gone from strength to strength. Because of the incredible skill and dedication of the Sister System team we have continued to grow both the number of service users and funding and have really strengthened the definition and detail behind our strategic charitable aims and mission. The partnership with Lloyds in particular (which provided funding and strategic guidance from experts in the charitable sector) has accelerated Sister System’s strategy and operations maturity.

This year we have worked alongside 120 amazing girls/young women (37% of whom were retained from last year) and their families; 89 of them are on programs and a further 31 are benefiting from sessional support. As an alternative educational provision sister system has 54 registered learners across four level2 qualifications and 4 programmes.

Page 3

Over the year, we delivered:

With outputs including:

Empowering outcomes of:

Page 4

BLACK LIVES MATTER - OUR RESPONSE

Sister System, a by and for Black female founded organisation offers its services to all care affected girls and young women who are 13-24 years of age, but our current community is 98% BAME. The Black Lives Matter campaign brought to the forefront what we already knew: that Black and Brown women face greater challenges and inequalities due to both their racial identities gender and sex. Equality of opportunity at a racial, gendered, sexual and socioeconomic level should not be an obstacle for society’s children, but it remains so. Our goal is that every care-effected girl has the same kinds of opportunities that everyone else has at home, in school and in our communities. Sister Systems delivery response to the BLM campaign was to co-curate and secure funding in order to deliver our 'Honour Thyself program, an empowerment program aimed at providing a safe space for our Black and Brown girls to explore and find place, pride and purpose in being Black British females.

Our COVID-19 response

STAFFING

We began this year with 8 paid members of the operations team and closed with 11, alongside an additional 4 who completed inductions as the year drew to a close. Bolstered by volunteers, professional pro-bono support and most importantly the expert knowledge of our Sis-Stars, we have continued to learn and grow. In addition, we participated in the DWP’s Kick Start programme taking on an additional 5 members of staff for a 6-month period. It is our hope that we will be in a position to permanently employ some of those who joined us through the Kick Start program, continuing our aim of being a vehicle for change and offering meaningful opportunities of employment for young people in Haringey.

Page 5

THE BOARD

Sister System recruited an almost entirely new board in March of 2020. We have settled well as a new team bringing a diverse and complementary set of skills underpinned by Sister System’s onboarding process and further bolstered through Sister System’s support under the Lloyds Enhance program. We have come together to ensure the governance and duties of the charity are effectively discharged and has been carried out with passion and commitment. In particular, our Treasurer and Company Secretary have made a hugely positive impact on how effectively Sister System operates. The board welcomes at least one member of the peer mentoring team alongside our Founder and Director to board meetings.

OUR PARTNERS

Sister Systems operational leads have continued to work tirelessly to forge meaningful partnerships with statutory organizations, not-for-profit’s (NFPs), forums and community initiatives. To this end, we continue to build upon the seats that we hold on statutory panels across both Haringey and Enfield’s children’s services as a referral route for these and other statutory providers. Our presence at high risk, multi-agency panels and Haringey’s MARAC, and Child Exploitation panel has led to Sister System reducing risk for some of our most vulnerable young women alongside sharing our ways of working whilst building capacity across the eco-system in Haringey.

PUBLIC BENEFIT

The Trustees confirm that they have considered the general guidance issued by the Charity Commission in connection with public benefit in setting the objectives of the charity and they have considered how planned activities further the charity’s objectives.

THE FUTURE

Now in our fourth full year of delivery and facing some uncertain times, we aim to continue to be a stable and consistent service for some of society’s most disaffected and vulnerable girls and young women. We will work towards:

  1. Supporting 200 girls across 9 programmes.

  2. Making every girl in Haringey who is affected by care aware of Sister System by the end of this current year.

  3. Growing in one identified & prioritised London Borough - Enfield.

  4. Strengthening our existing partnerships with statutory organisations, NFPs, panels and community initiatives and forge meaningful new ones.

  5. Diversifying our income streams from almost exclusively grants based to at least 20% from alternative sources of income such as corporate sponsors, local authorities, Government agencies and individual donors by the end of our current fiscal year.

  6. Share our findings with the aim of affecting policy and processes for care effected girls and young women.

To read more about our impact across 2020-2021 please see our Impact Report: https://www.sistersystem.org/impact-report-2020

Page 6

FINANCIAL REVIEW

The year ended with a total income of £466,655 (2020: £162,685) and total expenses of £195,581 (2020: £71,374). Total funds at the end of 18th October 2021 were £382,105 including unrestricted general funds of £194,356 (2020: total funds £111,031 including unrestricted general funds of £22,153).

RESERVES POLICY

As we continue to be the only organisation that is working with one of the most vulnerable groups in our community with the least support during incredibly unprecedented time , Sister System operates under a reserves policy that ensures that we are able to continue to provide support for a period between 6-9 months. We operate from a place of full transparency and as such the way we report our income is based on the date of the award rather than receipt, and as such £90,000 of our total unrestricted funds are set to be received across FY22 and FY23 with subsequent payments contingent on the delivery of interim reporting requirements. This puts us at an actual reserves level that is indeed compliant with our reserves policy.

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENTS

The charity is constituted as a charitable incorporated organisation dated 23 March 2018 and its objectives are to apply for funds for charitable purposes in England and Wales. In selecting persons to be appointed as trustees, the existing trustees take into account the benefits of appointing a person who is able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or management of the charity in accordance with the trust deed.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

CEO13613 (England and Wales)

Registered Charity number

1177669

Registered office

Studio 26, The Trampery 639 High Road, London N17 8AA

Details of Independent examiner:

Counterculture Partnership LLP

Unit 115 Ducie House, Ducie Street, Manchester M1 2JW

Director

Okela Douglas

Page 7

BOARD OF TRUSTEES

The Sister System board comprised 10 trustees during the year, 2 of which decided to step down due to other commitments. No new trustees were added during the year but our new Chair joined in April 2022. Sister System benefits from a board of trustees with diverse background and experience that meets regularly every 2 months, with more frequent meetings when necessary.

Active Board Members

Active Board Members
Name: Date Joined
M Williams 21 Dec 2018
A Mountbatten 02 March 2020
A Georgakopoulou 02 March 2020
A Dainkeh 02 March 2020
S Khaleeli 14 April 2020
C Jackson 14 April 2020
J Dean 01 September 2020
Y Sitnikova 01 October 2020
R Saunders 15 April 2022

Board Members that resigned this year

Board Members that resigned this year
Name: Date Joined
K Bartlett 21 Dec 2018
I Lukseviciute 02 March 2021

Approved by order of the board of trustees on 1 August 2022 and signed on its behalf by:

Rachael Saunders

Chair of Trustees

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SISTER SYSTEM

I report to the charity trustees on my examination of the accounts of the Company for the year ended 18 October 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Date: 1 August 2022

Counterculture Partnership LLP Unit 115, Ducie House Ducie Street, Manchester, M1 2JW

Page 9

SISTER SYSTEM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 18 OCTOBER 2021

Notes
Income From:

Grants and Donations
2
Expenditure On:
Raising Funds
Charitable Activities
3
Total Expenditure
Net Income for the year
Reconciliation of Funds
Balance brought forward
Start-up loan repaid
Balance Carried forward		 Unrestricted
£
182,457
(1,223)
(9,031)
(10,254)
172,203
22,153
-
194,356		 Restricted
£
284,198
(139)
(185,188)
(185,327)
98,871
88,878
-
187,749		 Year ended Year ended
18 Oct 21
18 Oct 20
Total Funds
Total Funds
£
£
466,655
162,685
(1,362)
-
(194,219)
(71,374)
(195,581)
(71,374)
271,074
91,311
111,031
26,720
-
(7,000)
382,105
111,031

Page 10

SISTER SYSTEM BALANCE SHEET

FOR THE YEAR ENDED 18 OCTOBER 2021

Notes
Fixed Assets
Office equipment
8
Current Assets
Cash in hand
Debtors
9
Creditors: amounts falling due
Within one year Liabilities
10
Net Current Assets
Total Net Assets
Represented by Funds
Fixed Assets
Unrestricted Funds
Restricted Funds
Total Funds		 2021
£
£
2,278
163,180
217,847

381,027
(1,200)
(1,200)
379,827
382,105
2,278
11
194,356
11
185,471
12
382,105		 2021
£
£
2,278
163,180
217,847

381,027
(1,200)
(1,200)
379,827
382,105
2,278
11
194,356
11
185,471
12
382,105		 2020
£
119,798
-
(10,677)
(10,677)
 £
1,910

(1,200)
11
11
12






109,121
111,031
1,910
22,153
86,968
111,031

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Chair of Trustees Date: 1 August 2022

Page 11

SISTER SYSTEM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 18 OCTOBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements.

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. Further explanation of the nature and purpose of each fund is included in the

Page 12

SISTER SYSTEM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 18 OCTOBER 2021

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

20% Straight line

2. Income from grants and donations

GRANTS AND DONATIONS
Unrestricted:
Grants
Donations
Total unrestricted
Restricted:
Grants
Donations
Total restricted
Total grants and donations		 18.10.21
£
157,000
25,457		 18.10.20
£
-
33,481
182,457
284,198
-		 33,481
129,204
-
284,198 129,204
466,655 162,685

Page 13

SISTER SYSTEM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 18 OCTOBER 2021

3. Costs of Charitable activities

2021
Charitable activities:
Programme Delivery
Total
Analysis by fund
Unrestricted funds
Restricted funds
Total
2020
Charitable activities:
Programme Delivery
Total
Analysis by fund
Unrestricted funds
Restricted funds
Total		 Direct
Costs
Support
Costs
£
£
162,689
31,530		 Total Costs
£
194,219
162,689
31,530		 194,219
3,060
5,971
159,629
25,559		 9,031
185,188
162,689
31,530		 194,219
Direct
Costs
Support
Costs
£
£
61,313
10,061		 Total Costs
£
71,374
61,313
10,061		 71,374
7,889
4,171
53,424
5,890		 12,060
59,314
61,313
10,061		 71,374

Page 14

SISTER SYSTEM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 18 OCTOBER 2021

4. Support costs:

Administrative costs
Premises (Establishment costs)
Governance costs
Total
Staff costs
Salaries and wages
Social security costs
Pension costs
Total		 2021
15,796
14,534
1,200		 2020
4,566
4,860
635
31,530 10,061
2021
90,991
548
1,070		 2020
-
-
-
92,609 -

5. Staff costs

Average staff numbers in 2021 is 4 (2020: nil). In 2020 staff were subcontractors and not paid via the payroll.

6. TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES

There were no trustees' remuneration or other benefits for the year ended 18 October 2021 nor for the period ended 18 October 2020.

There were no trustees' expenses paid for the year ended 18 October 2020 nor for the period ended 18 October 2019.

Page 15

SISTER SYSTEM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 18 OCTOBER 2021

7. Comparatives for the statement of financial activities

Income
Expenditure
Start-up loan repaid
Net Income
Funds Brought forward
Funds carried forward		 Unrestricted
£
33,481
(12,060)
(7,000)
21,421
7,732
22,153		 Restricted
£
129,204
(59,314)
-
69,890
18,988
88,878		 Year Ended
18 Oct 20
Total Funds
£
162,685
(71,374)
(7,000)
91,311
26,720
111,031
8.
Tangible fixed assets
At 18/10/2020
Additions
At 18/10/2021
Depreciation:
Charge in year
Net Book Value 18 October 2021
Net Book Value 18 October 2020		 Computer
Equipment
£
1,910
1,005
2,915
(637)
2,278
1,910

Page 16

SISTER SYSTEM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 18 OCTOBER 2021

9.
DEBTORS
Prepayments & accrued income
10.
CREDITORS (AMOUNTS FALLING DUE WITHIN ONE YEAR)
Accruals		 18.10.21
£
217,847		 18.10.20
£
-
217,847 -
18.10.21
£
1,200		 18.10.20
£
10,677
1,200 10,677
11. MOVEMENT IN FUNDS
Restricted funds:
Programme Delivery
Total
Unrestricted general funds
Total funds		 19/10/20
Opening
Incoming
Resources
Resources
expended
Transfers
18/10/21
Closing
88,878
284,198
(185,327)
-
187,749
88,878
284,198
(185,327)
-
187,749
22,153
182,457
(10,254)
-
194,356
111,031
466,655
(195,581)
-
382,105

The restricted funds were to deliver the programs, of which we have already detailed in the Trustees report.

Page 17

SISTER SYSTEM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 18 OCTOBER 2021

12
FUND BALANCES
Fund balances at 18 October 2021 are represented by:
Current assets
Current liabilities
Fund balance at 18 October 2020 are represented by:
Current assets
Current liabilities		 Unrestricted
Restricted
Funds
Funds
£
£
195,556
187,749
(1,200)
-		 Total
£
383,305
(1,200)
194,356
187,749		 382,105
32,830
88,878
(10,677)
-		 121,708
(10,677)
22,153
88,878		 111,031

Page 18