CHARITY REGISTRATION NUMBER: 1177669 Sister System Financial Statements 31 October 2023 LEAPMAN WEISS Chartered aoGounlants & slalulory auditor Building 6, 30 Friem Park London United Kingdorn N12 9DA Sister System Financial Statements Perlod from 19 October 2022 to 31 October 2023 Page Trustees, annual report Independent audltor's report lo the Members 13 Statement of financial activities 17 Statement of financlal positlon 18 Statement of cash flows 19 Notes to the flnanclal slatements 20 Sister System Trustees. Annual Report Perlod from 19 October 2022 to 31 Oclober 2023 The Iruslees present their r8POrt and the financial statements of the charity for the period ended 31 October 2023. RÈf•rènco and administratlve detail$ Roglslered charlty name Slsler Systèm Charity r•gistr*tion number 1177669 Principal offic• Studio 31 The Trampery 639 High Road London N17 8AA Th¢ tru6tee A Mountbattèn A Dainktrh S Khaleell C Jackson J Dean C Clar8- Treasurer IT¥rffi ended 2 March 20231 (Tem) ended 2 March 20231 (Temi ended 14 Aprll 20231 (Tèrm ended 14 April 20231 ITerm ended 1 September 20231 IAppoinled 12 May 2023- R8slgn8d 31 July 20241 IApptslnled 12 May 20231 K Dharnl R S8undors- Chalr A Philb8rt A Georgakopoulou- Co Cholr M WlllSams Audlts)r Lèèpman Welss Chartered Accountants & Slatulory Audllor Building 6, 30 Frlern Park London United Kin9dom N129DA Who We Ara We exist lo bridge the gap b8lw8èn c8re-sff8cled girls and mainstream sgoiely, by worklng alongside Ih¢m lo ensure they have the sarne opportunities everyone ¢lse has- at hom&, school, work and wllhln our communllles. Slsler System's dGflnStlon of "¢8re 8ffecled" refer3 to chlldren and young people thal glalulory servI￿s, Including soclal c8rè, the Criminal Justice System, NHS. Heolth ¢aro provldors. Educallon, and houslng provlders- have a responsibility to provlde care for dug lo familial or lglalional neglect, harm. or abuse. Foundlng and Growth: Founded In 2017 by a group of womèn driven by the urggnl needs of care-affected girls, S151er System has grown from a grassroots Initl8tlv8 into 8 key 5UPPOrt system lor young women in London. We ￿- created our core pro9rammes through a series of think t8nks with car&1è8vÈrs, ènsuring that our work was directly Shaped by the vOl￿S of thos& It s&rv8s. In 2018, wè bÈc8me an Open College Network IOCNI approved cenlre, offerlng nalSonally recognised qualifications. and officially raglstorgd ws a charity. Since our foundlng. we have expanded from supporting 12 girfs in our first year lo over 400 by 2022. Thls growth reflects our commitment lo providing hlgh-imp8Ct s&rviees and developing meaningful, long- tgrrn r¢lgtion5hips wilh our beneficiaries. Sister System Trustees, Annual Report (contin(Mdl Period from 19 October 2022 to 31 October 2023 Accrèditatlons and Recognitions: OCN Approved Cèntr• for offering qu81ifications Recogn150d by the Charities Excellence Framework A Dlsablllty Confld•nt Employ•r Bèst Emerglng Voi¢¢ Charlty of the Year- London Impact Awards Harfngey Glvlng Communlty Safoty Award 2022. Wlnn•r ¢hlldr•n and Youth category I Charity Awards 2023 ObJectlve8 and Actlvltlè8 Our Vision.. A world where empowered girls reach their potential through equi18ble opportunllles. Our Mission.. Sister System ISSI works abn9sid8 carè affected girls aged 13-24. Our corllmunity ol sisters Cowcrealed an alternative system.. an Innovatlve and empowering holistic learning prograrnme, with peer & Iherapeulic mentoring 81 ils htsart. Sister System's progr8mm$s ¢nablo each sis-star lo enhance her rnentsl resilience and sell-bellef, setting har on an empowement path ttsW8rds h&Bllhy relationships and socio.economic mobility. Rellned Programme Dellvery This year in p8rtnership with Impetus we participated in a Series of Driving Impact Work$hop$ to r8fine our Theory of Change. programme delivery and write our thre8.year strategy to clarify our slraleglc dlrecllon across 2024-2027. Sister Sysl&rn's leadership 10am conllnugd wSlh the foundlng way ol working, ¢o-¢urating its stratogy with the Board. op8r3lion81 team, majgr stakgholdars 8nd ol course our eommunlly of girt5 and young women who were involved and consulted on the str81èglc dlrèclion, programme refinement and Theory 01 change. These prograrnmes are underpinned by proven therapeutic approachas, such as Uncondltional Positive Rggord and Solullon Focused approach, alongslde soc181 pèdago9y. Slster System's theory ol change articulates how thase programmes, along with key Inputs th81 und8rpin them, achieve cruci81 outcomes for care-affeclgd young P￿pIe.. Herlourn•y through Slst•r Sy$t•m'• rgflnod programm• & our Th•ory of Chang• 12 HonourThyJ*lT P•*tttrP*•r Pow•rU YAltts* •coMmlc•lly Ttl•tlDn5hlp5 &6voldsvAW6 SUPPOrter51Th51dp4nd wlth55&ac05ysIp 1qv•llhrvtkn￿￿th1￿v￿ Sister System Trustees. Annual Report {contlntMdl Period from 19 October 2022 to 31 October 2023 Decisions we made: Theory of Change summary 0￿1(01￿￿5 g￿E¥ I3￿11 P•w Thv•p¢tsll¢W￿￿ I Sl*li prtwltylBgknlDr... IxJtr¥w¢ty u*polkn%* 47 EV￿111 A wthwtykn1•••￿*GTh1H9 CJ8 j.L+￿ 2qu•lMthD¢m4••d EthJulonal4tLilnm•r L., SEN Thiij l-. rwjl 41klll11orlK•￿d Short-lem7 Goals.. Underst8nd$ & develops self-esleem & resilience Understands & can identify healthy relationships Engages with her supporters and oulslde ol Slsler System Intem?edi8le Outcomes.. Increased self-8Sto•m & r¥silienco o Engagès wllh healthy re1811onships, idenliftes & avoids VAWG Su8tains engagement with SS & ecosystem,. 1 qualification achi•v8d Exil Oulcomes.. Positlve & sustalned s•lf4stgem & r&sSll&n¢e o At18ast 2 quBIIfic8llons 8chleved We focus on prtsvlding 8 hollslic approach that Includ9$ menlorfng, work$hops. odu¢81ion81 programme8 and career coachlng. Impact and Dellvery Numbor of Glrls Supportèd: 113 glrl*, with 32% retalned from last year. 25% of servlce beneflclar4gs movèd into edtJC81ion or training. 100°A of participants reported raised emotional resilience. 80Va continue lo engag• Wlth Sister Sy81em programmes. Empow•rmgnt Fund.. Supported 30 young wom•n with ess8ntial needs like housing, food, and basic utilities. As an 811gTnalive educational provislon Slster System has reglstered our lèamers across thre& lavèl 2 qu81ific8tion$ and 4 prograrnrnes. Food Vou¢her S¢herne'. Distributed 14S food vouchèrs to allevlate flnancial deprivatlon. Graduatlon.. Sister System annual graduation Is an opportunity lor all our girfs and young women to be celebrated for their progrgss 8n(J achieverngnt5. this year we celebrated a11113 young women's achievements wlth 2801¢ graduating with at le851 ¢)ne level two qualification from our suite of nationally recognisèd and a￿re￿iled progr8mmes such as developing le8¢Jership skills. Sister System Trustees, Annual Report {¢OAtlnuod) Period from 19 October 2022 to 31 October 2023 24 AIG Sesslons 907 Mentorlng Hours IZ Career Coachlng Sesslon$ 24 Reslllence Workshops A¢credlted Workshops 25% of 5erylce beneficiafle5 rrthed Into education or trainlng 80% contlnue to en8a8e wlth Sister System programme5 of older S4 Stsrs moved Into pald nF4oyment 1 and 17% into further l educatlon partlcipants reported ra15ed emotlonal resillence li Networklni Sesslons Our Programmes.. dellvered through a 0orlo8 of 1:1,8 small group and work•hops alongsldo actlvltSes & ovents. STAGE I.. ENABLE P••r2P••r Powtrrup: Expanded into 19 schools across North London, empowgrlng stud8nts Ihreugh peer-led mentoring. En•rg1$•, Exor¢ls•, Empowor IEEEI.. Provided essenllal ￿SourCeS and 8motlonal support throughout the pand8mic to rn8el immediate needs. EEE has won Slslor System 8ward$ and become our most In demand programme evolvlng lo include a range ol phy81cg1 end nutrltlon81 wellness workshops. STAGE 2.. ENHANCE L•ad•r•hlp Unl¢¢k•d: Promoted leadership and conlidence-building 8Ctivlllgs. preparlng young woman to bècome188d&rs In their own live5 and reach lor leadèrshlp roles In school. 01 work and in their communities. Offering a Level 2 Qualification in Leadership Skills. Tho SIBtorhood: 6uitt cornmunity connectlons and fostered a sense of belng seen and hoard through sfvared experiences. engaging in outputs such as social events, and group mgntoring s&ssitsns. Off8ring 8 Level 2 Qualificalion in Leadership skills. STAGE 3.. EMPOWER Th• Blg Sl$t•r You N•¥•r Had: Preparing participants lo be¢ome'big Sl$tgrs' through acquiring thè skllls knowlèdge and behaviours towards becoming 'Big si8tgr' mèntors, thls programme empr)wers her lo offer guidance and support whilst gaining ongolng dèv8lopm@nt from gXP8rienc¥d mentors & accgssing career coaching. Offering Levg12 Qualifications in P•&r M8ntorlng and Prèparing f¢)r Employrnenl. HtsnourThysglf- An 8ward-winning programme Focused on exploring the eutture, contributions and expèrien¢gs of blaok British girls the programme raises resilience and a sènsè of prid8, place and heritage and lor black British girls affecled by care. helping p8rti¢ipanls cultivate strong 5elf-worth and emotional health. Offering Level 2 Qualifi¢8tions in Leadership 8nd Prgparing for Employment. Sister System Trustees. Annual Report (Gontrnuedl Period from 19 October 2022 to 31 Oclober 2023 Challenges and Lessons Learned Transition to Employment: Although the per￿ntage of participants movlng into P8id èmployment dropped to 8%, tris was offset by an illcreased focus on educallon. With mora participants still in school. the majorlty mov6d into further education instead. Ntsn.Engagement'. 200k of participants disengaged. often due lo movlng ou181de of the servlce areas or achlevlng self-sufflciency. Despite this. 80% ramain8d èng8gÈd in our progr8mmes, demonstrating the strength of our rnenloring relalionshlps. So¢lal and Emotional L•arning ISELI Tools: This year, we refined our SEL tools, allowlng us lo closely monitor each participant's emotional loumey and adjust our support lo mg91 Ihelr needs more effecllvely. Partnershlps and Collaborations Key Partnerships.. ThiB year, we expanded our P•or2Pe•r Powtrup Mentoring Programmo in partnarship with Hopg In Haring•y. dellv8rlng the progr8mme across 19 school8 and colleges In North London. Open Door Partner¥hlp: Through our partnership with Open Door, we provlded 150 thor•peutl¢ appolntm•nt$ for 14 glrl8, offering Cognlllvo Behavloural Thtsrapy ICBTI and psycholharapy to suppoil m8nlAI h88kh And emotional well-being. This partnershlp also provided group clinical supervi$lon 8esslon8 a¢r0s8 the é&llvery 8nd oper81ions team enabling them to èxplora and $u¥taln re811ience. l$llngton: Launchlng our $8rvice6 al the Hlghbury Roundhouse In Sttptembar of 2023 Sister Sy3tem has begun lo foster meaningful partnershlps wilh key stekahoklers acrogs the borough Inereaslng our reach and dgepgnin9 our impael. S1$18r $y$lem conllnu88 to work closaly wllh 19 8chool8 acrass Harlngèyi Isllngttsn, and Enfi•ld. In Ihls year ￿ had 8 Particular focu8 on delivering our Peer 2 Peer Powor Up mentorlng whlch, 18 slruclured across the school term8. The schoo15 we delivered at Include.. Mulberry Academy Iwoodsidel, programmo d¢livgry P2P. Duk85 Aldridg8, programme dellv$ry P2P. Wallham Forest College, programmg d&llv8ry P2P. London Excellence Academy (Tottènhaml, prograrnme delivery P2P. A51ernalive Centr8 ol Educatlon (ACE} TCES Community School Hornsey School lor Glrlg Harris Academy ITollenh8ml Oasis Acaderny aringey 6th Form Collegg Slstèr System continued lo partner with a range of expert f8¢llilalors and pract￿one1$ ensurlng our programmes oulpuls are deliVe￿d by experts in th8 Fièlds and build in $tr8ngth to ourtgam of in-house Ih8r8P8Utic & pegr monlows, facililalors assessors and tralners. Local Authorl Sister System worked closely wllh thre& local aulhori118s, Haringey, Enfleld, and Islington. Professlonal Moelln Sister System sits on tha current Haringey panels. MARAC. Child Adolescents Resourcg P8ng1 and The Young Adult Servl¢e IYASI workln9 alongside professionals and piofessional bodies. Sister System Trustees. Annual Report (Gonllnue Period from 19 October 2022 to 31 October 2023 Safeguarding For the poriod 22-23, Sistor Sy$lem 8xpgri8nc8d a notable rise in the numbers of young people who through slalutory and sell-referral p8thw8ys were able lo access our servlces. Thls rlse was In relation to the numbers ol referrals with safeguarding concerns that exi81 within the local borough ol Haringey and hlghllghts thè importancè of th8 work wè dts to support young péople. During this period, and as part of our Intemal revlew process, Sister System's safeguarding tèam cornprised of operational and board members collaborated closely with an exlèmal safeguardlng consultant. As a Tesull, we further updated our safeguarding policies, rgfined ¢)ur s8fegu8rding procedures, and engaged in comprehensive team training sessions. Kgy S4fogu4rdlng Me4xurg8 and Revlew Process 1. Safeguardlng Pollcles We have established clear safeguardlng p0￿CloS 81ign8d wlth Industry best pra¢ll¢es and regu1810ry requirements. These policies outline oui comrnltment to preventing harm, ensuring rgspa¢tful eonduet, and addressing all safeguarding concems promptly and 8ff&ctivaly. Slsler Syslem's s8feguardlng poll¢y rèmains subject lo an annual revlew proc888 and was last revlewed on 8 Septembgr 2023. 2. Tralnlng and Awareness Our 81aff and volunteers recelve regular sgfeguordlng tr8lnlng, empowering Ih8m to Id&nllfy, pravènt, and respond lo potential risks. Thls Includes racognislng and responding lo slgnB of abusè, ulillsing roPQrtlng protocols, and fost8rlng a Culture of accounlabllSly. proportlonalily, an¢J tran8paren¢y. 3. Rlsk A$$essment and Managomènt Safeguarding rlsk a5$es8menls ar8 conducted 88 Part of our programme d8$lgn and Impl8m•nlatlon process. Those assessments help u8 identify and c8tegorlse potenllal rfsks whi¢h In tum allows U8 to lallor prevenllve m&osur96 8nd en8ure a safer envlronmenl lor benefidarlgs ond slalf alSke. 4. Incldenl Reportlng and R•spong• Proto¢ol8 We have a cornprehensive reporting syst&m that ensu￿$ safgguardlng concern8 or Incldents are docurnenled, reviewed. and gddressed swlltly and conCd&ntially. Our safeguardlng prtstoeels Sncludè guid8lin8s for 8scalatlon and collabor8tion with partngring orgBnis811ons and relevant aulhorili88 wh8n necessary. We rnainlaln three permanenl staff members and tsvo Trustees with safegu8rding remits tts whorn concgms ar8 r8portgd. 5. Indeptndtnt Review and Ovorsight Our safeguarding practic95 undergo regular internal review8 and Indepgndent audits lo a6s&ss ¢ffe¢livene88 and ensure compliance with regulalory and ethical standards. Thè findlngs Bre used to update our safeguardin9 approach and address any gaps, promoting contlnuo(tg Improvement. 6. Feedbock Mochanlsm We maintaln open channels for feedback from baneflci8rlès, staff, and external pariners regarding our safe9uardlng practlces. Feedback Is rovigwed lo adapt and reflne our protocols and ways of working, furthèr strgngthèning Sist8r System'8 $8leguarding frarnework. Si8tor Systam managed 50 Safeguarding ¢on¢erns this year.. 82% were low to rnedium risk, needing internal 8upport or no furthèr &c￿n. 18V• w¢r& high-ri$k cwses, whKh required intervention frotll oxlèmal services like CAMHS and So￿81 carè. Sister System Trustees. Annual Report (Gonflnuedj PerSod from 19 October 2022 to 31 October 2023 Flnan¢ial Review Slsler System ￿ported funds secured for future years already In hand of £648,803 for the year ending 31 October 2023, an increase from £525.698 from thè prior ye8t. Total unreslricled re$erve5 rose significantly to £395,74512022'. £112,5421 provlding flexlblllly for operallonal needs. This 15 reflective of the charity's reserve5 policy, statèd bÈlow. This indi¢al8s the Charitys strong financial health. effective resource managomenl. and an Incra8se In mul￿-year funding. It Is lrnportant lo note that the financial year-end was updat8d from 18 O¢tob8r to 31 October, aligning r8POrting wlth strategic objectives. As a result, this sel of accounts covers the pgrlod from 19 October 2022 10 31 October 2023, reflecting 12 months of Iln8nci81 perform8nce operational aclivily. Thi8 adjuslmgnl ensures greater clarlty and allgnment In financlal reportlng as thè charity continues its mlssion lo empower care-effected girfs and young women. Reserves Pollcy The Trustees of Slster System recognlsè their responsibility lo hava a transparant pollcy on managlng the resourcès of thè ory8nls81ion, including ffnandal reserves. They acknowledge thls Is a requlremenl under th* Slatemgnt of Rècommended Practice.. Aecounllng and Reptsrtlng by chan￿9$. The Tru81ges of Sislèr Systèm belleve thal11 58 gen8rally in the interests of the ¢h8rlty to Wofk Iow8rds 8 position of holdin9 re$eN8s that would cover 6-9 months operalin9 costs. ThSs1g currèntly botw¢¢n £387k- £581k. Th1615 to ensure adequate cash flow flexiblllly lo meet emergency measur8s. d81ayèd paymant of grants and lo 8nsur& that programme dellvery lo our beneficlarles is not Inlerrupled, The board Is keeplng Ihls policy under review 8s the org8ni8ali¢n grows. Tru$tfre8' Notes The Twsle&s of Slgler System are pl8a8ed wllh the Impact 8n¢J reoch of tho charlly over the past y&ar. Do$pllo external challengas, such as th8 cost-ol-1Svlng erlsls. the ¢harlly ha$ ¢onfjnu8d lo grow and has positively impacted the live8 01113 9Srls and young woman. The board of Trusleos arè commltteLI Its ensurlng that Slster System's governanc&, flnancl81 manag8m8nl. and opèrational activities align with the chgrity'$ mis81on of empowerlng care affected girls. We hav¥ Invosl¢d in slrenglhèning our partnershlps. developlng our programm88, and sècuring funding to ensure susl8lna￿l1lY In the years lo come. The Trustees acknowlodge tho importance ol robust flnancial and oparational controls whlch arè foundational to Sist8r Systèm's continued Success and building trust wlth our stakeholders. In lh¢ pa81 year, we identified areas where Internal processes required enhancement to further saf8guard the Integrity of our oparatkns. In February of 2024 Sister System oxporien¢9d a 5griou$ incldenl whlch we subsequendy reported to the Charlty Commission on thè 28th of February 2024. In response to Ihls Incldent. the board approved the implementallon of slrenglhened oversight measures devised by the senior managemènt teams sUPPOrted by exlemal prof8s$iona13. This included comprehensive adluslments to our ffinancfal monitoring pracllces and slrlcler checks on Iransaclional workflows. We have also established addilion81 r8vi8w protocols ensuring that all activities align seamlessly wilh best practices for financial accounlabillly and transparency. Sister System Trustees, Annual Report (conllnuedl Period from 19 October 2022 to 31 October 2023 The Tru$t8es arè confiflent that the88 318ps will r8inforce Sister Sy8t9m's r8sili8nc&, safeguarding resourcgs that ornpower th& young women and girls we support, whilg positioning the charity for sustained gTQWth and iTnpaBI. As a result of the serious incident expefien¢ed by Sister System, we hav8 had to appoint 8 new 8ecounl?nl and auditor. and redo much of our accounting work for the year In qu¢$llon which In-lurn dalayed this audll raport and the fl1Sng of our annual report respectfvely. Rlsk Manag•m•nt Id•ntlfleallon Pro¢•s$ 1. Risks ar8 identifiad in a risk id8ntificAiion workshop involvtng the Trustees and the charity's dire¢lor 2. Identified rlsky ar8 a8S9S8ed and quanllfl8d on the ba8Is of Ihgir Impa¢l, severity. and likelihood of their occurrence 3. Risks are addressed by pulling in place proportionate mitigation plans 4. Risks that cannot be avolded e.g. where Trustees re￿gnIse that an aclivty carries an 'acc6ptab16' lèval of risk Bra acc&pl8d Bnd monitorad in 8 dynamic way 5. The board Is updated regulady of any changes In rfsk wllh regard$ to the Ilkellhood of p￿VIoUSlY Iden15fled188u88 arising Rl$k Reglst•r C8tegory D¢$crlptlon S•v*rlty IHIMILI Llk•llhood IHIMILI Mltlg#tSon Strategic & Financlal Slgnlncanl redueilen In fundralslng egul8r monllorlng of fundralsing & fln8nc85 reserves held elm to ￿Ver 8t ba￿88n 6.9 m¢nlhs or oparalional costs Regul8r monilortng of govemment pollcy and any changes Rogular re￿oW ol currènt providers Analys16 of kny pgrsons Is requ1￿d 10 onsure these Individuals are Id8ntifr&d and bsck up plans are prepared Our Staff and volunt?er8 receive regular 8afegu8rding training SS policy and proc8dur88 on safeguardlng are frequÈnlly updated Tho board holds regular d15CUsBlons on SS strate9y The operalions tgam 15 vigilant on any IndlGqtlon8 of fraud and 15 in ¢lose contact with the Tru51ees to resolve any potenlial i$$ues that might arf5e Slrateglc Chan9e In governrnent PDICY offo¢llng grants Technology 8yslem8 not adequate Key person risk Opgrallonal & Flnanclal Operational OpBraUcnal SDfogu8rding ol c8ro affected gir18 Str8189Sc Suslalnabllily & mp8cI of growth Fraud Flnancial & Strategic Sister System Trustees, Annual Report (¢antinuad) Period from 19 October 2022 10 31 October 2023 Golng Concern The Truste88 have assessed the charills financial posilton and ￿nfIrM that Sister System 18 a golng conc8rn. Wilh a solid financial reserve. $leady income streams from grants, and a growng nelwork of partnerships, the charity is wèll-p0811ioned to continue its work in the comln9 year. The board of Trustees have prigrllised enhanced financial monitoring, with slrengthened internal contro15 that allow for rnètleulous oversight of income and expendllures. The Introductlon of tho Salesforcg CRM $y$tem In 2023 w511 furtheT enhance our ability to monitor outcomès, tr8ck eno8gèmÈnl, and slrearnline operallons, ensurfng that Slsler System remalns resilient In thè face of èxternal challenges. Plans for th• Futuro As we look ahead lo 2024-2028, Sister System is prep8rtng to gealo 11$ Impact acroBB OLrr capltal Into a small nallonal charity. Our new Ihrè8-ye8r strategy wlll focus on ￿plIcatIng our 8uccessful programmes pan London whlle conlinulng to reflne our Impact measurement lools. By f¢)slering effective communication, peer storytelling, and building strong partnOTshlp8, the organlsaUon will ensure Its culturally relevant programmes Contlnue lo reflect the ctsmmunllies It serves. Wo continue to aim lo increase our rèach worklng alongsldè al10881180 glrl8 In 2023 ellher through dire¢l support or Indlrect Imp8cl through our partnorshlps. Intèrnally, Sl$ler Sy81em wlll focu8 on 8lr8nglhonlng Ils team. slreamllnlng process8s, and enh8n¢Sng 118 me8suraménl of Imp8cI. New staff will r8c8lva thorough onboarding and support, whllg Big S151ers and the moblli5allon of our Youth Advlsory Board wlll play plvolal roleB In long-lerm advocacy and communlcallon. As on8 ol thè organisalions worklng lo dellver the GLA'S NDFYP as both a dellvery and c8P8cIty bulldlng partner Slsl&r Systèm aims to continug lo bulld on Ihls by sharing our own menlorlng practices aGr055 the seGtor lo conllnue lo drtve up the quallty and conslslency ol menlorlng across th8 capital, dgmonslrale Its impa¢t through M&E whlch, In turn will, drlve our Ihree year alm. to be able to Influenc8 polScy & practlces lor girls and young women affected by the care system. Flnally, wo sg8k lo bulld upon 8nd shar8 th8 outcomes of the work we do lo Influen￿ corporate practlces 8round re¢ruilmanl, support and Snlemal culture and pra¢llc&s lo further empower cara- affgcled 91rf8 8nd young women towards sust81nèd 90cio-e¢onornlc rnobillty. We remaln dedlcaled lo empowering care-affectèd girls ond young women, &n8urlng they have the same opportunities as everyone etsfj. 10 Sister System Trustees. Annual Report Iconllnued) Period from 19 October 2022 to 31 October 2023 2027 w• wll pN*Ad•... e.allé¢W ilils iow•r4ts ￿)Ilh¥ eco￿￿ EIIErtlve col•born￿￿ wth pwlner5 4nd EustsÈn•blE lin•n(•s 202 202&7 202*5 Our K•y Prlntlpl•• W¢tdo¥e ￿ IrMdvif4OW e¥ffYmlfq wel￿U¢ QW N*JThd to 140 Vtyjpt pto4e, We llft a clo5trkThi ie•ii *llb ￿01 Iruy ond Structure, Governance and Management Th• charity is constitut6d os a charitablè incorpor8tion organisation d8t8d 23 March 2018 and its objÈetlVÈS arè to apply for funds for ch8rilable purpose5 in England and Wales. In selecting persons to be appointed as trustees, the existing Iruslees lake into account the benefits ol appolnting a person who 15 able by virtue of his or her personal or pro18ssional qualifications to make a contribution to the oblects andlor management of the eharlty In accordance wlth the trust deed. 11 Sister System Trustees. Annual Report (wi&nu•d) Perlod from 19 October 2022 to 31 October 2023 Trustees. responsibilltles statement The Iruslee8 are responslble for preporfng the trustees, repclrt and the financial 31at8rn8nls in accordan￿ with applicable law and United Klngdom Accounting Standards (Unlled KSngdom Generally AcGeple¢J AcGounling Praclicel. Th918w applic8bl8 to eh8ritw$ in England and Wgle3 require8 th8 charity trusteès to prapar8 financiBI st8tarnènts for èach yèar which give a true and fair view ol the slats of affairs C*f thè charity and ol thè incoming resources and application of resources, of the charity foT that period. In preparlng these financkql slatemènls, Ihtt Iruslees are wulrèd to.. str￿¢1 $ultsblg g¢¢ounling pollcl98 and Ihgn apply Ih8m con8181ondy', observe the methods and prlnclples In the appllcabl& Charllles SORP: maka judgmanls 8nd 8c¢ounllny &stltll8t¥$ that arg ie8$onablè and prudanl., state whether applicablg UK Accounting Standards have be&n followed, Sublecl to any material dep8rtures dlsclosed and explalned In the flnanclal stslemenls., prepare the financial st3tam&nts on tha golng ¢oncgrn basls un19$$ It 1$ Inapproprfat¢ to presumo that Ihe charity wlll conllnue In business. The trustees are Tesponslble for kggplng adequolg accounllng rewrds that are sufficlenl to 8how and explain Ihg ¢harity's Iransacllons and disclose wllh reasonable accuracy al any limo th& flnanclal poslllon of the charfly and enable them lo ensure that the financial slalemenls comply wllh the Chari1198 Act 2011, the appllcable Charllies (A￿Ount$ and Reports) Regulations, and th8 provlslons of the Trust Dged. They are also rosponsible for 98faguardlng the 9gSats of the charity and hence for taklng r8asonabla stgps for tha pravantlon Ènd dètactlon ol frèud Ènd othar Irw9ul8ri11oS. The trustees, gnnuol roport wa8 approved on 11 Decembar 2024 and Signed on behaK ol the board ol Irusl&g8 by.. R Saunders Tru8lea 12 Sister System Independent Auditor's Report to the Members of Slster System Period from 19 October 2022 to 31 Octobèr 2023 Opinion We have 8udSled the financial slatsmenls of Sister System (the '¢harity'l for the period ended 31 October 2023 which compris8 the st8tÈmÈnt of lin8n¢ial 8¢1ivilies, statement of financial position. staternenl of cash flows and the rolated notes, including a summary of significant accounting policies. Th8 financlJl reportlng framework that has been BpplSed in thelr preparation is appli¢8ble law and Unilgd Kingdom Accounting Standards, Including FRS 102 The Financi81 Reporting Slandard applicable in the UK and Republic of Ireland (Unitèd Kingdom Generally Accepted Accounting Praclicel. In our opinlon the financia5 statements.. glve a truè and fair viaw of tha st8to of thè charity's affglrs ¥$ 4131 October2023 and of Its Sncomlng resources and 8pplicatSon of resources for the period then ended., h8ve been properly prepared In o¢cordan¢e wllh Unlled Kingdom Gon&r8lly A¢c6pled Accounting PractlC8- and have been pr8par6d In accordance with the requirements of the Charllle$ Act 2011. Basls for oplnlon We condu¢led our audit In accordance wllh Inlomallonal StandardB on Auditlrtg IUKI IISAS IUKII and applicable law. Our responslbillllés under those standards are further d@serib8d in thè auditorfs Sponslbllllles for the audit of the financial statements section of our raport. We arè independent of the ¢harlly In accordance wllh the ethlcal requlremenls that are ￿leVant lo our audit of thè financlal slalemenls In the UK, Includlng the FRC'S Elhlcal Standard, and wè have fulfilled our other elhlcal r&sponsibilltlgs in a¢¢ordance with these requirements. We belleve that th¢ audit evldenc8 we h8ve ob185n8d is sufficlonl and approprlal& lo provlde o bosls for our oplnlon. Con¢lu$lons relatlng to golng concern In audltlng the financial statemen18. wa have concluded Ihal the iw81oes' u88 of th8 golng conc8rn basls of accountlng In the proparallon ol thè ffnanclal statements Is approprlato. Based on the work we have perfoimed, w$ have not idenliflèd any malerlal uncertainlles relatln9 10 avenls or conditions that, Individually or collectively, may casl slgnlflcont doubt on the charfly's ability to contlnuè 8s a going concern for a perlod of at least twelve months from when the Inanclal 8lal8ments are aulhorfsed for issue. Our responslbllSlles and Ihe responslbilllles of Ihg Irustegs wllh rèspect to golng ¢on¢em ¥re d&s¢ribad in the relevant section8 of this report. 13 Sister System Independent Auditor's Report to the Members of Slster System (continued) Perlod from 19 October 2022 to 31 October 2023 other information Th8 Other information comprise8 thè information included in th8 8nnual r8POrt, other than the fln8ncSal stalémènts and OLJr audltor's repcirt Ihereon. The Iruslees are responsiblè lor tha other infomiation. Our opinion on the financial statements does not cover th& other information and, 8xcepl to the exlenl otherwise explicitly slated in our report. wa do not èxprègs any fomi of assurance conclusion Iher80n. In connection with our audit of the financial statements. our responsibility Is to read Ihg other information and, Sn dolng so. consider whether the other Information is maierially Inconsislenl with th8 fin8ncial statements or our knowledge obtained in the audit or othemlse appears to b? rroterially misstated. If w¢ idenllfy such mal81ial Incon8lslencie5 or apparent material mis51aletllenls. we are required to delerffline whether ther8 is a malerlal rnisslatement In the financial stslements or a material misstatement of the other Infofwalion. If, basEd on the work we have performed. wa condude that there 1$ a m81èri81 mis$latgment of this other information, we are r8quir8d lo report that fact. We havé nothing to r8port in Ihis règ8rd. Matter8 on whlch wè arè requir•d to rgport by •xc8ptlon In th8 Ilghl of the knowledge and und&rslandlng ol the charlty and ils envSronmenl obtained In the Goursa of the audit, we have not Sdenlifled malerSal rnlsslatements in Ihe trusl8es' report. Wè have nothlng to réport in respect of the followlng matters In relalton lo whl¢h the Cha¥lties Aol 2011 r8quires us lo report lo you il, in our oplnion.. Ihe Infomiatlon gSven In the Iruslees, report Is Incon81s18nl in any mal&rial rg$pg¢t wlth th8 financial 8talernenls', or ad8qu81e 8eeounling records have not been kopt,. or thè fln8nclg1 statemènts a￿ nol In 8gr¥&m&nl wllh the 8c¢ounling racords And returns., or we have not recelved all Ihe1nformallon and 8xp18nations wa requlro for QUT audit. Re8ponslblllt105 01 tru8to0$ A8 explalned more fully in the Irusle8s' responsibilitie8 Statsm8nl, Ihe Iru8lee8 are re8ponslblg for th& preparation of the financlal statements and for belng satisfi6d that they give a true and fair vlèw. and lor such Inlern81 control as thè trustées d6tèrmine 18 fbecessary to Én8blè the preparation ol financial stslemenls that are free trorn material misstatemenl, whether due to fraud or errN. In preparing the financlal stalem8n¢8, the Iruslees a￿ responsible for asses51ng the charity's ability lo conlinue as a goSng concern, dlscloslng, as applkable, matters ￿18¢￿￿ lo golng con¢ern and using the going concern basls ol accountlng unless the trustees esther Intend lo Ilquldale Ihg Bhgrity oi lo cease operallons, or have no reallstiG altematlve but to do so. 14 Sister System Independent Auditor's Report to the Memb&rs of Slster System (corttinU8d) Perlod from 19 October 2022 to 31 October 2023 Auditorfs re8ponsibilitie3 for the audlt of the flnanclal statements Our objéctives Bra to obtain rè8sonablè 8s$ur8nce about whether Ihg finan¢lal $t8tèmenls as 8 whole are free fro)m material misstatèment, whether due to fraud or error. and to issue an audttor's report that includes our opinion. Reasonabl8 gssur8ncè is 8 high lèvèl of 8ssur8nc6. bul is not 8 gu8rant8è that an audit conductad in aecordancè wllh ISAS IUKI will always dtttètl a rnaterial mlsstatemÈnt wheh it èxists. Mlsslatemtsnls can aris& from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the eoonomic decisions of us&rs taken on the basis of these financial statements. Irregulari1188, including fraud. are in$lance$ ol nOn￿mpli0nGe wlth laws and regulations. We design procedures In Ilne wilh our ￿spOnsibl1&11¢$, oulllned above, lo delecl material mlsstalem8nls in respe¢l of irregularitle8, including fraud. The exlenl lo which our procedures are capable of detecting Irreuul8filies, including fraud 18 detailed below.. We obl8lned an understanding of the legal and regulatory Iramework applicable to the charity and the sector in which it op8rale$', We assessed the suscepllbllity of the charfty'8 financial 8talam8nts lo malerlal m1881atemenl, IncludSng how fraud mlghl o¢¢ur', We Consldered the charity's own a8sessm8nt of tho rlsks that Irr8gularili8s may occur withln tha organlsallon., We revlèwèd thè pollcles ond procedu￿$ In plac8 lo pr8venl and dglecl Irregularlll&s,' We made enqulrt8s of management about th8lr own hlénlflcallon and 88sossment of th8 rtBks of IrregularllSes', Wo rgvlewed board me&llng minutes and regulatory correspondenc&; WO dasigned 8udll proceduros to det8cl irrggularillas. includlng fraud. However, the prlrnary r¢spon$iblllly for the prevenllon and delectlon of fraud rests wllh the Irusle8s and management of the ¢harlty. Due lo the Inhertrnl Ilmltalions ol an audlt, there is a rlsk that we wlll not detect all irrogularllios, in¢ludlng tho8e108ding lo a material mi881alèmènt in the fin8n¢ial slatttm&nl8 or non-compliance with r8gulalion. A9 Part of pn oudlt in ao¥ordance wllh ISAS IUKI, wè 6xerci8t profe88lonal judgmefil and maintsin profe$$lonal sceplicism throughout the eudil. We a150'. Identify and asse88 the risk8 of material misstatement of the financial st8lements, whether due to fraud or error, deslgn and perform audit proc8dur8s r8sponsiv@ to those risks. and obtaln audit evidence thot Is sufficlenl and approprl8le lo provlde a basis lor our oplnlon. The risk of not det¢Gling a matorial wDi88tslemenl re5u115ng from fraud Is hlgher than lor ontr resulllng from error, aB fraud rnay involve collusion. forgery, Sntentlonal omlssion$, mlsrepresentatlons. or Ihg overrlde of internal Control. Obtain an under818nding of internal conlrol relevant lo the audit in order lo design audit procedures that are appropriate in the circumstanc6s, but not for the purpos¢ of expressln9 an Qplnlon on tho eff6ctiv6ness ol th¢ inlgrn81 Gonlrol. Evaluale the appropriaten¢$s of a¢counlin9 policies used and the r8880nabl8ne88 of accounting astlm8taS 8nd rfjlatèd dlselo$ures mad8 by the trustees. 15 Sister System Independent Auditor's Report to the Members of Sister System {¢onflnuedl Period from 19 October 2022 to 31 October 2023 Conclude on Ihe approprlaleness of th? Iruslees. use ol the golng concern basis of accounting and, based on the audll evidence obtained, whether a rnaterial uncertalnly exlsts related to events OT condrf(ions that may cast significant doubt on the charity's ability lo continue as a going ¢oncem. If we ¢onclud8 that a material uncertainly exists. we aro required to draw attention in our auditor's report to the re181ed disclosures in the financial statements or, if such disclosures a￿ inadequats, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of our auditor's report. However. fvlure events or condI￿On$ may cause th8 charity to eèasè t ¢onllnue as a golng concern. Evaluate the overall presentallon. structure and content of the financial sl8lernentg. including th disclosures. ana whether the linanclal slatomenls rewesenllhe underfylng tran6aclionB and 8vonts In a manner that achieve8 labr presentation. We ¢ommunl¢ate wlth those charged wlth governance regardlng, among other matleTS, the p18nned scopè and Ilming of the audit and $ignifi¢anl audlt ffTKllnu$, Includlng any significant deticièn¢las In Inlemal Control that we Idenllfy during our audll. ol our roport Thls report Is made solely lo the ¢harily'$ members. as a body, In accordan￿ wllh secllon 144 of the Charltle$ A¢l 2011 and regulallons made und&r socllon 154 of that AGt. Our audit work h8$ been undertaken so that we might slate lo the charlly's member5 those matters we are required to state to them In 8n audllor's report and for no other purpose. To the full8sl exlenl perrnilled by 18w, we do not accept or assume responslblllty to onyone other than tho Gharfty and the charity's members 8s a body. for our Budll work, lor th18 report, or for the oplnlon8 we hav8 formed. hJ< Henry Leapman Bsc FCA Isonlor Slaiulory Auditor) For and on b8h81101 L88pman Welss Chartered A¢¢ountants and Statutory Audllor Buildlng 6 30 Friern Park London N12 9DA 11 December 2024 16 Sister System Statement of Financial Activitles Perlod from 19 October 2022 to 31 October 2023 Year to 180c122 Period from 19 Oct 22 to 31 Oct 23 Unrestricted Restricted funds fvnds Total funds Total funds Incomg and endowments Grants and donalSons 614.382 873,442 1.487.824 964.830 Total Income 614.382 873.442 1.487.824 964.830 Expendltur• Expanditurè on raising thnds.. Costs of raising donatlon8 and legacies Expendllure on charltable aotivllles Total 4X￿ndItUr• 6.098 329.292 1,890 501,739 7.988 831.033 3.126 436.006 335,390 503,629 839,021 439.132 N•t In¢om• 278.992 369.812 648,803 525,698 Transf8r8 batw88n fund8 4,211 14,2111 Nèl movomont In funds 283,203 365,601 648,803 525,698 R•¢on¢lllatlon of fund$ Total funds brought forward Total fund$ carrl•d forward 112.542 775.247 887.788 362,090 887,786 395,745 1.140,848 1,538.591 The $tslement of flnanclal acllvltles Includes all galns and losses recognlsed In the year. All Income 8nd expendllure derlve from conlinuino adivlli8$. 17 Sister System Statement of Financial Position 31 Ootober 2023 31 Oct 23 180ct22 Fixgd assets Tangible fixed assets 13 3,819 3,767 Current assets Debtors.. due ￿thIn one year Debtors.. due after more than one year Cash 8t bank and in hand 14 14 724,842 435,398 562,707 1,722,947 778,012 193.962 971,974 Crodltors: amount$ f•lllng due wlthln on• y•ar Not ¢urr•nt assfrts 15 190,175 1.532,771 87,953 884,021 Total #8sets lèis current Ilabllltlo¥ 1,536,591 1,S36,591 887.788 N•t a8$•t$ 887.788 Funds ol the Gharlty Reslricled funds Unrestricted funds 1,140,847 395.744 775,246 112.542 Total ¢h)rfly fund$ 16 1.536.591 887.786 Not•.. The charfty h88 £hangé0 its èccounllng policy lor Incom¢ racopnlllon to ÈlEpn ihe Chèrlikni SORP IFRS 1021. imder Ihe new polw. oranl Incom• r•cooni8ed when gwafded father than Ythan recowed. TNS ¢honge has b￿￿ opplled re￿D5￿¢t1vety. For delElls of the impact OTr the fla￿cial Blal4rnent5, ￿ nol4s 3 and 21. These financial slalemenls were approved by tho board of Irusloos and aulhorlsed for Issue on 11 December 2024 and are slgnad on bohall of tha board by.. R Saunders Trustee 18 Sister System statement of Cash Flows Perlod from 19 October 2022 to 31 October 2023 31 Oct 23 18Oct22 Cash flows from operatlng a¢llvltl•$ Nel income 648.803 525,698 Adjustm&nts for.. Dèpreciation of tangiblg fixed assets Accru8d 8xptrnseB 2,854 660 2.201 4.140 Chang8s in.. Trade and other debtor5 Trade and other creditors 1382,2291 1580.1801 101,563 82,613 CBsh generated from operatlons Nel cash from operalSng a¢llvltles 371,851 34.472 371,651 34.472 C•$h flows from Inv¢$tlng actlvitles Pur¢has& ol langlble 8ssèIs Nel cash used In Inv&sllng Bclivilies 12,9061 12,9061 13.6901 13,6901 Not Incr•a80 In cash and c88h •qulv8l•nt$ Ca8h and cash •qulvaltntx at bg9lnnlng of perlod Cash and ¢a$h •quSval¢nt8 at ènd of perlod 368,745 193,962 30,782 163,180 562,707 193,962 19 Sister System Notes to the Financial Statements Period from 19 October 2022 to 31 October 2023 General infonnation The charity Is ¢onstitut8d as a Charllable Incorporated Organlsatlon ICIOI and is a regi8ler8d Charity in England and Wales. The address of the principal office is Sludlo 31. The Trampery. 639 High Road. London. N17 8AA. Statement of compliance These fin8nei81 st8lemenl$ have beon prepafed In complianc8 Wlth FRS 102, The Financial Reporting Standard applicable in the UK and the Republic ol Iraland,. th8 Statement of Recommended Practice applicable to charities preparlng their accounts in 8c¢r)rdance wllh the FinAnci81 R8POrtlng Stand8rd Bpplic8blg in the UK 8nd Rèpublic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and tho Ch8ri1ies Act 2011. A¢¢ountlno poll¢l•$ Basls of preparatlon The financial 31alements have been prepared on lh8 hi81orlcal Cost bagis, as modifi•d by the revalLsalion ol certain fin8n¢lal ass8t8 and liabllilles Bnd othera888ls measured al laSrvakJo through Incom8 or axpenditura. The financlal slalemenls are preporad In slerllng, whlGh is the functional currency of th¢ gntlly. Golng ¢on¢ern Therg ora no mat8rlal uncgrtglntlos about tha eharlty's abllity to contlnue. Fund accountlng Unrestricted funds are avallable fer use al the dlscrellon of the Iru$lofy8 lo further any of the charity's purposes. De8lgnaled funds are unr8slrlctod funrl8 8armark8d by the Iruslges for pgrtlcul8r futLsre project8 or cornmltrnents. Règlrietèd funds ar8 Sublèclèd to rè8lrl¢li¢ns on Ihebr exp8nditLJf8 d8clared by the donor or through terms of8n appeal, and lall into one of ￿ sub-classès- rèslrthd 5noomo lund$ or andowrn8nl funds. 20 Sister System Notes to the Financial Statements (wntlnued) Perlod from 19 October 2022 to 31 October 2023 Accountlng PDIÉcÈ8s (ctsntlnu• In¢omlng resources Al In¢omlng resource8 are included in th6 st8tement of financial aclivities when entltlernenl has passed lo the charity.. it is probablÈ that the economic benefits 4sso¢ialed with the IransaclSon will flow to tho charlty and the amount can be reliably tll8asur8d. The following specrfic policies are opp119d lo partlcular categories of incomè.. incomè from donations or grants Is ￿COgnISed when there 18 evidence of entiilement to ihè gift, receipt is probBbla and Its amount can be rneasLtred reliably. legacy Income is re￿gnISed wh&n rèceipt is probable and entltlemenl Is estsbli8hed. income from donated gc)ods Is ffleasured al the fair value ol th& goods unlès$ thi8 18 impractical to mèasurè reliably, in which case th8 valu& is derlved Irc*m the ￿$1 to the donor or the estim8ted r8s81è value. Donated lacllltles and servlces are rectsgnlsed in the accounts when re¢8iv8d if the value can ba rgliably mea8ured. No amounts are inGluded for th& conlrlbulion of gen8ral volunt8èrs. fncome from contracts for the supply of services 18 recognlsed wlth Iha dalivary of the contracted sarvlcè. Th1$ Is classlfled as unreslrictod funds unless thèrè Is a ¢onlraclual r¢quiremÉnt for il lo be Spent on a partlcular purpose and returned if unspent, in which casè 11 may be regarded as r8Strlcl8d. Resourc08 expended Expendllure is racognlsed on an accruals baBls as a liability Is Incurr8d. Expgndilure includes any VAT whlch Cannot be fully recovered, and 1$ ¢1osslflgd under headlng8 of the statement of flnanclal Betlviti•$ lo whiBh It relates.. expendllur& on raising fund8 Includ88 thè oo$ts of all fundra181ng 8clivilie8, èvents, non- ¢h8ri18ble Iradlng activitles. and th8 salè of donated goods. oxpendilure on charitable acllvlllo$ Includes all costs Incurred by a charity In undartaking aclivllles that lurthar ils charitable aims for the benefit of Its b8n81iclarl8s, Includlng those 8UPPOrt costs and Costs relating lo the governance ol Ih$ charlly apportloned lo charitable actlvlllgs. other expenditure Includes 811 expendllura that Is n8lthèrr•lalèd lo rai8lng funds for the charlly n¢r part of ils expenditure on ¢harllable activities. All costs 8r8 8lloe8led to expendlture categorles reflecting the use of the resource. Direct cosls attrlbut8ble lo a single activity are allocaled dire¢lly lo that activlly. Shared costs are 8PPOrtloned between the activSties Ihey contributo lo on a rèasonable. luslSflable and ¢onslslenl basls. 0￿ratIng lea$è$ Lease payments are recognlsed as an 8xp8nsè over the lease term on a straighl-line basis. The aggregate benefit ol lease in￿n￿veS Is r8cognised as a reduction to expense over the loas¢ tsrm, on a 81raighl-line basls. 21 Sister System Notes to the Fiftancial Statements Icontlnuedl Period from 19 October 2022 to 31 October 2023 Aecountlng pollelès (contlnuedj Tangibk asséts Tangible as8gts arg initially recorded alcosl, and subsequenly stafrd ateost less any accumulated depreclation and Impaimient losses. Any tan9ible assets carried al revalued amounts 8r8 recorded al the falr valu¢ al the dale of r¢valualion 1855 any subs¢quenl accumulated depreciation and sub88quenl accumulal8d impairmenl108ses. An incrèase In thè carrying amount of 8n 8sset 83 a rg8uIt ol 8 revaluation, is re¢ognlsed In other re¢ogni8ed gain$ and10$s8s, unlèss il reverses a charge for Impalrm8nt that has previously bee recognised as expenditure within the statement of financial activities. A decrease In the carrylng amount ol an ass8t as a result of r8valuaiion, is raeognised in other recognlsed gains and losses, excèpt lo whl¢h il offsets any prevlous rèv8lu8llon gxln, In whi¢h case the Ioss is shown wllhin other recognised gains and losses on the statemenl of financial acllvllles. 0gpr•¢latlgn Depreclation is calculaled so as to write off the cost or valuat￿n of an 388et, less Ils r&sldual value. ovèr the u$9ful e¢onomi¢ life ¢)f Ihgt asset 8$ f¢llow5'. Fixtur8s and flttlThJs Equipmant 6.7% straight lina 33% straight Ilne Impalrment of flxfjd &8$•ts A revlew for Indlcalors of Impalrmenl Is ¢aTrled out al each r8portlng date, wllh thè recoverable amount being estimated where such Sndicalors exlsl. Where the carrylng v81ue exceeds the rèc¢v¥rabl$ amount, thè assèt is Impair8¢J aG¢ordln9ly. Prlor Smpalrmenls are al80 rovSw&d for possible revtrrsal al each rèportlng dale. For the purpose8 of Impalrment testlng, whgn11 Is not possible lo estimate the recovarablo amount of an IndSvldual agset, an estlmale is rnade ol the recoverable arnounl of the c8sh-g8nèratlng unit lo whlch Ihg asset belongs. Tho cash-genoraling unil18 the smallest idenliliable group ol 888el8 that includes the asset and generates cash Inflows that largely Indepgndgnt of tha cash inflows from other a$sots or groups of 88set$. For impalrmenl lesllng of goodwS11, the goodwlll acqulre¢J in 3 businasB comblnatlon 1$, from thè 8CqUlSltion d81e. allocated lo each of tha cash-generating units that are expeclad lo benefit from th8 synèrglès ol thè eombln8tSon, irrèspgctlv¥ of Wh￿har othor as58tg or Ilabllllles of tho ¢h8rlly a￿ 8s8igned lo those unlts. Flnanclal Instruments A flnan¢ial asset or a financlal Ilablllty 1$ recognlsed only when the charity becom•$ É paty to the controctual provisions of the Instrument. Basic financial in51rumenls are initially r6cognised at the amount recelvablg or payable including any ralat8d transaction costs. Current assets and curreni liabilities are subs8qU8ntly measured al the cash oroth&r consideration expected lo be paid or r&ceived and not discounted. 22 Sister System Notes to the Financial Statements Ic0fr7tNJU8d) Perlod from 19 October 2022 to 31 October 2023 Accounting pollclès Iconllnufrdj Flnan¢lal Instruments iconlinue Debt instruments arg subsequently measured at amortisad cost. Where investments In shares ar8 publicly traded or th8ir IBif VBlu& eAn othÈrwr$e be mè8$ured raliably. the invgslmenl is subsequently m6asLtrÉd al falr value with changes in fair value raeogni$ed in income and expendlture. All other such inve$lmen15 are subsequently measured at Cost less impairment. Olh6r financial instruments. including derivalfvos, are initially recognised at fair value, unloss payment for an 8sset is d&ftrrred beyond normal busSness lems or flnanced al 8 rale of interest that is nol 8 Mark81 rate, in which case the asset Is mea8uied 81 the present value of the lulure payments d18eounled at a mark81 ratè of Intarègt for a Blmilar d8bl in81rumenl. Other finan¢lal instrumènts are subsequently m8asur8d 8t f8lr v81ue, wlth any Changes r8cogni8ed In Ihe statement ol Ilnancial activities. with the exception of hedging instruments in a designated hedging relallonshlp. FSn8ncial 8$$els that ar8 measured at co$1 or amortlsed c081 artt reviewed for objective evidenc8 of lrnpalrnenl at the end of ¢a¢h reportlng dale. If there Is objective 6videnc8 of imp8irm8nt, an Impairment loss is r8cognised un(fer the appropriate headlng In the slalemenl of flnancial 8clivlli88 In whlch the Initial galn was recogn168d. For all equlty Instruments regar ESFA.Equlpmoni Glvlng- Th• 8rfdg• ft•n•w•lTNIt VAWQILCRFWOPAC 13451 219 120 I1.2￿> 12601 749 (91 021 2.293 2.293 1.252 92) 4.la& 9YJ 4.158 20.918 219 7,270 <2191 UK Youth R05A & SMBINvoodWom￿.JTMYl Fund 8o*•Wvm•n'• Fund (L4bydrth PMJI￿) Hinngiy Gi¥ing-SS GoiTthnt ¢&ii•rt-DWP R•dbiidi• EHCP Hqdngoy Councll Hou501￿Id Support Fmd WllllimW•t•¥ Fund 7.275 2.977 1,149 11772 S,797 2.977 1,049 10.245 5,78T i&ooi 12,0271 4A3e 18.0 1650 18,005 410 I1,2￿) GLA Now Dool ftyYL￿nll Pooplè Homorook¢d Brfge RfjNwol TN•l L¢ndon ImpaclAwllrds LCF Ywr605t Friend Slllo Wthdrnih DayGi4ni Wood*de Hl9h Scho s$ ci¢ TI￿Na￿On￿l L4lt•ry MQPAC 5￿te[ha￿v￿ EnhartC•d Salor Nèiihtr>JrhoQdBoB￿ HBdrqDyIBI*g¥ 162.393 3.572 14.128 13,033 4.336 1.263 62,401 3.S72 14.3361 1.283 378.021 111.520 1114.012) 82.3591 1321 264.009 138.23S 2.803 101.D74 2,833 Th?Llstenlng Fund KPKIG Fovnd4llvn HAhn9•yTty•iTh•rvA C*n2022 81.761 15Q.WO 40.610 144,388 13,8481 40.000 160.567 2.428 142.865 NDYP up Hopeli H8rfng•y puth•rdNp RDsa Frllrn th8 Fronill eeTklpy Faufmlèik 118,fy)21 )0,￿0 25,709 6,037 13,732 50.676 36,61 Jo,0 24,911 5,T52 5,57¥ Tne 8yJ G￿e-Ch￿m￿oThl Forcnmren FundiA*#r LCFVAWG CoslofLlv1ry Fund A¥AXL Harnlh 36,810 150,000 771246 873.441 28 Sister System Notes to the Financlal Statements (¢Qnlthued) Period from 19 October 2022 to 31 October 2023 16. Analysls of charltable funds (¢ontlnued) A119 0￿(￿)￿1￿￿1 Income Ew9ndi￿re Trdr*T¢ry4 AI 1B OcicOg12D22 3,164 544 MBtrixC4u$es F￿d l(￿dD￿ Caialy¥i MOPAC UKYwih Fjrtd 345 X9 120 3,037 2eD 562 RDnewalTiust 1,124 136 138SI The FomiThW Thi Nguonal LoliirycommuntyFL￿d Th¢ For• Fund LCRFWiva 2- ciiy Tmsl Un LidAuhu¥t 2020 LCRFWBve 3-VAWG Srn?Ilwood IFronlliDBWom•n'8 Fund) OINN Eniorprfst Ctc ESFA- Èqulpmént t¥dro•yGkwlmg-Th•8rfdg• Rwew41 T¢￿$t VAWGILCRFIMOPAC TNL RgoMing Ethuge￿O Foundalon 2.705 fj02 2,293 t,252 923 2.681 132 16.473 46 4,1 45 50.076 25.000 2Q.913 14.950 12,000 2D.919 125.0001 UK YO￿ ROSA & smBIF￿0oll Woth•n'sThrfv• Fuh Solic• wthn• Fund IL•byATh Prohctl HU￿n9DY GI￿￿￿-s5 SDtT•l•nl Klckithrt-DWP R•dbrfdg• ÉHCP Hirln9•y ¢¢uncll HDuMhohYSupwt Fund Ill•m W•io# Fur MOJCrfll¢ilSupporf Fund Incrffio IBrtdi• R•rtbw¥l CundrntonD Ca-produc11onl GLAN¢wO••l loryounq Pwl• l.lowook•d Brfdg• R•n*w4lTw Lor￿0￿ Imp$¢lAwa¢ds LCF YoJrB•II Sol•U￿$ Wlndrwh Oay ar•Tht 219 7.27S ,331} 18.881 8.38T 2,•77 I,e4 IP,772 F,78r 1,522 29.447 6.120 8.000 28,0¢0 a,190 1,740 10.005 19e.335 10.0 30.000 15.7eo 7.444 2.165 1,050 389,1rg 118,184 138.9421 162.393 3,072 14,12 13.633 4.338 ssc Th• N•llonal Loitsry MOPA¢ $lJl•rhood &nhBnc• 38 378.021 ie7.749 7.170 {284.è781 25.308 7TS,24e 29 Sister System Notes to the Financial Statements Iconunuedl Period from 19 October 2022 to 31 October 2023 17. Analysts of nèt ass•ts bètween fund5 Unrestricted Funds Restrlcted Total Funds Funds 2023 Tangible fixed assets Current assets Credllors less Ihan 1 year Nèt assèts 3,819 582.100 1190.1751 3SS.744 3,819 1,722,947 1190,1751 1,$36,591 1.140,847 1.140,847 Unr?slri¢led Funds Restricted Total Funds Funds 2022 Tanglble fixèd assets Current assets Creditor8 less than 1 yaar N•t a8S•t8 2.460 198.035 187,9531 112,542 1,307 773,939 3,767 971.974 187.9531 887.788 775.246 18. Analysls of ehang•s In nèt dèbt Al At 19 Ocl 2022 Cash flow8 31 Oct 2023 Cash at bank and In hand 193,114 36g.593 562,707 19. OporatSng leasa ¢ommllments The total fvlur• mlnimum18888 payments under non