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2025-10-31-accounts

Sister System Annual Trustees Report For the year ending 31st October 2025

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Sister System Annual Report & Accounts 2024-2025

Section 1: Legal & Administrative Information 3
Charity & Auditor’s Information 4
Structure, Governance & Management 5
Section 2: Annual Report of the trustees 6
Objectives & Activities 7
Our Impact 9
Our Year at a Glance 10
How We Delivered This Work 11
Outcomes & Learning 12
Partnerships & Collaboration 15
Safeguarding 16
Risk Management 20
Plans for Future Periods 24
Section 3: Financial Report 28
Financial Review 29
Reserves Policy 32
Trustee’s Notes 34
Going Concern 35
Financial Statements & Auditor’s Report 36

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Sister System Annual Report & Accounts 2024-2025

section 1

Legal & Administrative Information

3

Sister System Annual Rerx)rt & Accounts 2024-2025 Charity Information Ststrs.. A Charitable Incorporated Organisation ICIOI governed by its ¢onstitulion. ch8rtty number 1177669 Charity NamE: $i￿er Sysiem Pri￿1paI l)ffire Addres& Studio 14 The Trampery. 639 High Ro&J. London. N17 8AA Trustees Who Held Office During the Year lacollellm N1¢olej￿es I(￿11r1 Allki Desplna Georgakopoulou Ico-chairl Appointed on 5th May 2025 Appolnted on 2 March 2020 Espedilo Pthso trrnaswerl Camilli Elwoo Appointe(l on 10th January 2025 Appointed on 8th November 2024 Appointed on 10th January 2025 Appointed on 9th April 2025 Tony Nneke Stephanle Ma￿0 &rtton En￿ tt•n-Amidas Appolnted on 9th February 202S Appointed on 21. December 2018 Appointe<l on 8th November 2024 Willian lellKa Ann Rtyer Independent Auditors Bankers Kingslon Burrowe$. Stalutory Auditor 308 Ewell Road. Surbiton, KT6 7AL N8tWest 198 Stoke Newington High Street London N167GA 'J N Jarnes and J A Roper Resign￿ ￿ May 2026

Sister System Annual Report & Accounts 2024-2025

The Board of Trustees submit their annual report and audited financial statement for the year ended 31 October 2025.

The Trustees of the charity who held office during the year are disclosed on page 3.

Structure, governance and management

The charity is constituted as a Charitable Incorporated Organisation (CIO), governed by a constitution dated 20th March 2018. The CIO is managed by a Board of Trustees, who meet at least quarterly to review strategy, performance, and risk.

The maximum number of Trustees is 12. Trustees are appointed in accordance with the constitution, following open recruitment processes based on skills, diversity priorities and due diligence process. Trustees also adhere to Sister System's Board & Governance Charter.

New trustees undergo structured induction, including governance responsibilities, financial oversight, and safeguarding. Day- to-day operations are delegated to the Founder and Chief Executive and the Director of Operations. A formal Scheme of Delegation is in place. Sister System's Founder is noted by the Charities commission as the Charity contact and an employee (CEO) of the Charity.

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Sister System Annual Report & Accounts 2024-2025

section 2

Annual Report of the trustees

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Sister System Annual Report & Accounts 2024-2025

Objectives & Activities

Sister System supports care-affected girls and young women aged 13 to 24. For the purposes of the charity’s work, this includes young people for whom statutory services, including social care, health, education, housing and criminal justice services, have responsibilities arising from familial or relational neglect, harm or abuse.

Mission:

The charity’s mission is to bridge the gap between care-affected girls and mainstream society by working alongside them to ensure they have access to the same opportunities as their peers at home, in education, in employment and within their communities.

Vision:

Its vision is a society in which girls and young women affected by the care system can thrive, lead and shape their futures through equitable opportunity.

Charitable Objectives:

The charity’s objects are to support care-affected girls and young women to overcome barriers to personal, social and academic development; to promote their health, safety and emotional wellbeing; and to increase opportunities that enable them to reach their potential. In delivering these objects, Sister System works to improve socio-emotional wellbeing, strengthen understanding of healthy relationships, and support progression into education, employment and training, with the longer-term aim of enabling economic stability and lives free from abuse.

Founding:

Founded in 2018, Sister System has grown from a grassroots initiative into an established charity supporting girls and young women across London. The charity is also an Open College Network approved centre, enabling it to offer accredited learning as part of its programme delivery. Its work is delivered through a culturally responsive, race and gender equity, trauma-informed and relationship-based approach, designed to build trust, strengthen resilience and support sustained progression.

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Sister System Annual Report & Accounts 2024-2025

Accreditation and Recognition:

OCN Approved Centre for offering qualifications

Public Benefit:

The Trustees consider that the charity’s activities provide clear public benefit. Careaffected girls and young women face significant and often overlapping barriers, including inequality in education, reduced access to consistent support, and increased exposure to safeguarding and mental health concerns. These challenges are often more acute for global majority girls and young women. Through early, preventative and community-led support, Sister System helps address these inequalities, strengthens individual agency, and reduces the likelihood of longer-term dependence on statutory intervention.

Principal Activities:

During the year, the charity delivered structured mentoring, group-based development activity, accredited learning, therapeutic support and progression-focused interventions. These activities were designed to help beneficiaries build confidence, improve wellbeing, strengthen relationships, and progress towards education, employment and wider participation in society.

Compliance with Public Benefit Guidance:

The Trustees have had due regard to the Charity Commission’s guidance on public benefit and are satisfied that the charity’s aims, activities and use of resources remained aligned with its charitable purposes throughout the year.

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Sister System Annual Report & Accounts 2024-2025

Our Impact

During 2024–2025, Sister System delivered a full year of programme activity, following our new model, supporting more girls and young women than ever before. This growth reflects both increasing demand for our services and the strength of our relationshipbased approach.

Across the year, we worked with girls and young women at different stages of their journey, providing consistent support through mentoring, group programmes, accredited learning and therapeutic interventions. In total, over 200 girls engaged with Sister System, with 126 actively participating in regular programme activity.

Our work continues to show that when care-affected girls are supported through trusted relationships and culturally responsive practice, they are more likely to engage, build confidence and make progress in key areas of their lives.

We saw positive movement across core outcomes, including socio-emotional wellbeing, understanding of healthy relationships, and engagement in education, employment and training. The majority of participants demonstrated either improvement or stability across these areas, highlighting the importance of sustained, relationship-based support.

This year also marked a significant step forward in how we measure and understand impact. We piloted a strengthened Monitoring, Evaluation and Learning framework, improving the consistency and depth of our data. This has enabled us to better understand not only what change is taking place, but how and why it happens.

The following sections present a summary of our reach, outcomes and key learning from the year.

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Sister System Annual Report & Accounts 2024-2025

Our Year at a Glance

126 girls engaged

91% improvement or stability in socio-emotional learning

demonstrated 90% improved or stability in their understanding of healthy relationships

81% showed improvement or stability in engagement with education or employment

Increased demand for our service and referral throughout the year with strong safeguarding coordination and support for girls through our statutory professionals network.

205 girls referred

191 girls Supported

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Sister System Annual Report & Accounts 2024-2025

How We Delivered This Work

This year, Sister System continued to deliver consistent, relationship-based support, engaging 126 girls and young women and responding to increasing demand across our referral network.

Many of the girls and young women we support are navigating complex and often highrisk situations. We responded to 109 safeguarding concerns, working closely with partners to ensure each young woman was safe and supported. At the same time, we supported young women who were not in education, employment or training to take meaningful steps forward, with 97% progressing or remaining in education, employment or training.

Our work continues to show that with the right support, young women can build stability, confidence and momentum towards their futures.

89

32

700+

SIS-STARS CELEBRATED AT OUR GRADUATION

SOCIAL ACTIVITIES DELIVERED

1:1 MENTORING SESSIONS DELIVERED

160+

118

230+

WORKSHOPS DELIVERED

COUNSELLING SESSIONS

FOOD & HYGIENE VOUCHERS DISTRIBUTED

3200+

30

2600+

YOUTH ADVISORY BOARDS HOURS CONTRIBUTED

ORGANISATIONS SUPPORTED THROUGH CAPACITY BUILDING

YOUNG PEOPLE REACHED INDIRECTLY

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Sister System Annual Report & Accounts 2024-2025

Outcomes & Learning

This year’s data provides deeper insight into how change happens for the girls and young women we support.

While overall outcomes show positive progress, the data also highlights the complexity of that change. Improvements in wellbeing, relationships and progression are not always linear, and often reflect increasing self-awareness as much as measurable shifts in scores.

In particular, our findings suggest that as girls build trust and confidence, they become more able to recognise and reflect on their experiences, especially in relation to relationships and personal wellbeing. This can influence how outcomes are reported over time.

Our data also reinforces the importance of sustained support. For many young women, early progress does not immediately translate into long-term stability, particularly in areas such as education and employment, where additional time and targeted support are often required.

The following pages explore these outcomes in more detail, alongside key learning that will inform how we continue to develop and strengthen our programmes.

Our Theory of Change

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Sister System Annual Report & Accounts 2024-2025

Wellbeing & Relationships

Improved Socio-emotional Learning

Findings are drawn from two different measurement methods: mentor progress reports and participant surveys.

The three graphs below are based on self‑reported survey data, comparing participants’ first and most recent assessments. Average scores increased over time, with self‑esteem rising from 14.8 to 17.4 and resilience increasing from 19.9 to 22.9, both moving from Severe Concerns to Moderate Concerns. While healthy relationships scores remained positive overall, a slight decrease reflects growing awareness as girls become more able to recognise and reflect on unhealthy dynamics and past experiences.

----- Start of picture text -----
25 60
20
50
20
15
40
15
22.9 10 30 53.2 52.9
10 19.9 17.4
14.8 20
5
5 10
0 Resilience 1 Resilience 2 0 Self-esteem 1 Self-esteem 2 0 Healthy relationships 1 Healthy relationships 2
Connor Davidson Resilience Scale Rosenberg Sellf-esteem Scale Healthy Relationships Survey
----- End of picture text -----

Based on structured mentor Development & Progress Reports conducted every six weeks:

Socio-emotional Learning

91% improvement or stability in socioemotional learning

Healthy Relationships

90% demonstrated improvement or stability

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Sister System Annual Report & Accounts 2024-2025

Education & Employment

Progression into Positive Pathways

We also saw movement among girls who were not in education, employment or training at the point of referral.

What We Are Learning

Our data shows that while early progress is strong, the transition into sustained education or employment is not always immediate. Many girls require longer-term support to build stability, confidence and readiness for these pathways.

In response, we have strengthened our progression pathways, including more targeted support for education, employment and training, and continued engagement beyond initial programme stages.

Long-term Outcomes

Early long-term data (6 months post programme), shows positive progression. Interviews with young women who previously completed the programme found that 50% were in education on in employment earning above minimum wage.

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Sister System Annual Report & Accounts 2024-2025

Partnerships & Collaborations

We work alongside statutory services, education providers and community organisations to ensure girls receive coordinated and consistent support. Our role is to provide a trusted, relationship-based layer that strengthens and complements existing services.

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Sister System Annual Report & Accounts 2024-2025

Safeguarding

Sister System remains fully committed to safeguarding the welfare of the girls and young women we support across all programme areas. Safeguarding continues to be a core organisational priority, and we take all reasonable steps to ensure every girl and young woman engaging with us is protected from harm and supported in a safe, trusted environment.

In 2024–2025, Sister System experienced a significant increase in the number of girls and young women accessing our services through statutory services, education, health, and self‑referral pathways. This growth reflects rising safeguarding concerns across the boroughs we serve and highlights the critical role our programmes play in supporting and empowering girls and young women who may be at heightened risk. This trend also demonstrates growing trust in Sister System among professionals, partner agencies, schools, and families, who increasingly recognise the value and necessity of early intervention and relationship‑based support.

During this period, we completed a full safeguarding review covering our team structure, policies, and procedures. This review was led by our safeguarding team, comprising operational staff and board members.

Building on the progress made during the previous period, our safeguarding priorities for the coming year include:

Reviewing resource needs as safeguarding demand continues to rise.

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Sister System Annual Report & Accounts 2024-2025

Safeguarding Overview: Key Measures and Review Process

Safeguarding is a core expression of Sister System’s values and our duty of care. Our approach is intentionally shaped through an ancestry-conscious, gender-informed and culturally competent lens, recognising that the girls and young women we serve - predominantly from African, Caribbean, and localised minority communities - experience safeguarding risks within intersecting contexts of structural inequality, gendered harm and biases associated with ancestry and ethnicity.Our commitment is to create environments that are not only safe, but affirming, dignified and culturally responsive.

Governance & Oversight

Safeguarding oversight is maintained at leadership and Board level. Trustees actively scrutinise safeguarding data, case trends and organisational learning to ensure robust risk management, accountability and continuous improvement. Safeguarding remains a standing agenda item for senior leadership and Board discussions. Three permanent staff members and two Trustees hold designated safeguarding responsibilities and provide clear reporting routes for all concerns.

P olicies & Procedures

We have established clear safeguarding policies aligned with industry best practices and regulatory requirements. These policies outline our commitment to preventing harm, ensuring respectful conduct, and addressing all safeguarding concerns promptly and effectively. Sister System's safeguarding policy remains subject to an annual review process and was last reviewed on 10th October 2025.

Training & Awareness

All staff and volunteers receive regular safeguarding training, empowering them to identify, prevent, and respond to potential risks. This includes recognising and responding to signs of abuse, utilising reporting protocols, and fostering a culture of accountability, proportionality, and transparency.

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Sister System Annual Report & Accounts 2024-2025

Risk Assessment and Incident Management

Safeguarding risk assessments are conducted as part of our programme design and implementation process. These assessments help us identify and categorise potential risks which in turn allows us to tailor preventive measures and ensure a safer environment for beneficiaries and staff alike. A comprehensive incident reporting and response framework ensures that all concerns are documented, reviewed confidentially and addressed swiftly, with escalation to statutory or specialist partners where required. We maintain three permanent staff members and two Trustees with safeguarding remits to whom concerns may be reported.

Professional Meetings

The Designated Safeguarding Lead (DSL) represents Sister System at key Haringey and Enfield multi‑agency panels and forums, including:

The DSL, DSO and mentors regularly attend and contribute to case‑level meetings to support coordinated planning for the individual girls and young women we work with.

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Sister System Annual Report & Accounts 2024-2025

Review, Assurance & Feedback

Our safeguarding practices undergo regular internal reviews and independent audits to assess effectiveness and ensure compliance with regulatory and ethical standards. The findings are used to update our safeguarding approach and address any gaps, promoting continuous improvement. We maintain open channels for feedback from beneficiaries, staff, and external partners regarding our safeguarding practices. Feedback is reviewed to adapt and refine our protocols and ways of working, further strengthening Sister System's safeguarding framework.

Safeguarding Activity & Outcomes (Reporting Year)

This year, Sister System managed 109 safeguarding concerns across the girls and young women we support. These concerns covered a range of issues including emotional wellbeing, exploitation, domestic abuse, family conflict, and mental health needs. Each concern was assessed according to our internal safeguarding framework to determine the level of risk and the appropriate response.

All safeguarding incidents, regardless of level and risk, are followed up internally. Many of the girls and young women referred into our programmes already have involvement from other agencies such as Children & Adult Social Care, health services (CAMHS), or education. We work to ensure that information is shared appropriately, risks are communicated clearly, and the girls or young women's voice is represented within multi‑agency discussions.

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Risk Management

The Risk Register reviewed quarterly by Trustees, with annual deep-dive on safeguarding and financial resilience. The Register is maintained with version control

Risk Category Risk
Description		 Context: Likelihood Impact Mitigation
Safeguarding Failure to
prevent or
respond
appropriately
to safeguarding
concerns
involving
beneficiaries		 Sister System
works with care-
experienced
girls and young
women, many of
whom have
experienced
trauma,
exploitation,
neglect or
abuse.
Safeguarding
risk is therefore
inherent and
represents the
most serious
potential threat
to beneficiaries
and to the
organisation		 M H Safeguarding
policy and
procedures
Designated
Safeguarding
Lead (DSL)
Enhanced DBS
checks

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Risk Category Risk
Description		 Context: Likelihood Impact Mitigation
Safeguarding Boundary
breaches or
inappropriate
relationships
between
staff/volunteer
s and
beneficiaries		 The relational
mentoring
model central
to Sister
System’s work
relies on trust
and continuity.
Without robust
boundaries,
there is risk of
dependency,
inappropriate
contact or
digital
communication
breaches.		 M/L H Staff and
volunteer Code of
Conduct
Digital
communications
and social media
policy
No unsupervised
1:1 contact
outside
structured
sessions
Scenario-based
boundary training
Confidential
reporting routes
Operational Failure to
deliver
programmes
safely or to
required
quality
standards		 Programmes
run over
extended
periods.
Inconsistent
delivery,
insufficient
staffing or loss
of quality could
reduce impact
and harm
participant
trust.		 M M/H Standardised
programme
manuals
Facilitator
training and
shadowing
Feedback from
participants and
partner agencies
Caseload limits
Ongoing
programme
observation and
review
People Staff burnout
or high
turnover
impacting
continuity of
relationships
with young
women		 Staff regularly
engage with
traumatic
content and
emotionally
demanding
relationships.
Burnout risks
continuity and
safeguarding
effectiveness.		 M M Trauma-informed
HR practices
Regular
supervision and
wellbeing check-
ins
Access to external
reflective
supervision
Reasonable
workload
planning

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Risk Category Risk
Description		 Context: Likelihood Impact Mitigation
Financial Insufficient
income to
sustain delivery
of longitudinal
programmes		 Longitudinal
programmes
require stable
funding. Income
volatility
threatens
programme
continuity and
staff retention.		 M M/H Annual budgeting
and quarterly
financial
reporting
Rolling 12-month
cash-flow
forecast
Reserves policy
(target 3–6
months operating
costs)
Diversified
fundraising
strategy
Financial Over-reliance
on a small
number of
funders		 Reliance on a
small number of
funders
increases
vulnerability to
sudden income
loss.		 M M Cap percentage
of income per
funder
Active fundraising
pipeline
Development of
unrestricted
income streams
Legal /
Compliance		 Breach of
GDPR or data
protection
obligations		 Sensitive
personal data is
held on
vulnerable
young people.		 M/L M/H Named Data
Protection Lead
Restricted system
access
Secure storage
and password
protocols
Annual GDPR
compliance
review

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Risk Category Risk
Description		 Context: Likelihood Impact Mitigation
Reputation Negative media
or stakeholder
response
following
incident or
service failure		 Any
safeguarding or
delivery
incident could
attract high-
impact scrutiny.		 M/L H Crisis
communication
plan
Single authorised
spokesperson
Transparent
incident reporting
procedures
Strategic Expansion
beyond
organisational
capacity or
mission drift		 Expanding
delivery faster
than
infrastructure
or staffing
capacity could
undermine
safety and
impact.		 M/L M/H Board approval
for new
programmes
Capacity
assessment
before expansion
Annual strategic
review

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Plans for Future Periods

Strategic Direction

Sister System is entering a deliberate and ambitious phase of growth. In line with our 2024–2026 Strategic Plan, we are preparing to scale our impact across London while laying the foundations to become a small national charity.

Our ambition is not growth for growth’s sake. It is about responding to need with depth, integrity and cultural competence. We will replicate our programmes pan-London, while safeguarding the quality, relationships and co-curated “by and for” culture that defines Sister System. Each new borough will reflect its own local context, assets and community voice — we will scale what works, but never at the expense of relevance or lived experience.

Alongside geographic expansion, we will continue refining our impact measurement framework to ensure we can clearly evidence outcomes, progression and long-term change. As trustees, we remain focused on sustainable growth — strengthening infrastructure, safeguarding, governance and financial resilience as we expand. In 2026, we aim to reach at least 2,700 girls and young women through a combination of direct delivery, partnership activity and systems change work. Within this, we will provide intensive, structured support to at least 222 girls and young women, with measurable outcomes including:

Growth and Organisational Development (2026–2027)

Over 2026–2027, Sister System will implement a focused, purpose-led growth strategy that strengthens delivery while building the organisational maturity required for scale. This includes:

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Maintaining rigorous safeguarding, financial oversight and risk management

This growth phase is sequenced and monitored carefully by the Board to ensure that ambition is matched with infrastructure and sustainability.

Direct Delivery Expansion

Our primary operational priority is to further develop our expansion of high-quality delivery across five London boroughs through the mobilisation and implementation of our hub-and-spoke model. This model enables a concentrated hub of excellence, supported by localised community spokes that extend access while maintaining programme fidelity.

In the coming year, we will focus on establishing 4 spokes across identified boroughs. Each will be mobilised with clear governance oversight, local partnership alignment and robust safeguarding frameworks in place.

Capacity-Building and Systems Change: Sister System Academy

Our long-term impact cannot sit solely within our own delivery. For sustainable change, systems must evolve.

Building on our successful capacity-building work initially commissioned by the Greater London Authority under the Mayor of London’s New Deal For Young People, Mentoring Quality Framework, we will formally scale this work through the launch and development of Sister System’ Academy’.

The Academy will:

Extend our expertise into the corporate sector and employer networks

This strand of work strengthens the wider ecosystem that surrounds girls and young women, enabling improved practice across education, charity and statutory services. Over the year, we aim to engage practitioners across London and pilot delivery in at least one geographic area outside London as we test early national replication.

Through indirect delivery, practitioner training and corporate engagement combined, we anticipate indirectly enhancing outcomes for at least a further 2,500+ young people through strengthened professional practice and improved systems. We will also support practitioners across 30+ organisations through our capacity building programme.

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A Founder’s Commitment, A Board’s Responsibility

As a Founder led charity, we remain deeply committed to ensuring that Sister System’s growth is rooted in integrity, accountability and mission clarity. The Board of Trustees provides governance oversight to ensure that expansion is responsibly managed, financially sustainable and aligned with our charitable objectives.

Our ambition is bold — but it is grounded.

We will enable.

We will enhance.

We will empower.

And we will do so in a way that protects the depth, dignity and lived experience at the heart of Sister System.

Funding Requirements

Delivery of this year's strategy is dependent on raising at least 1.7M with a 3yr financial model identifying the need to raise in total 6M across three year (FY 25/26= 1.7m, FY26/27=2M, FY 27/28= 2.2M) to fund staffing, infrastructure, safeguarding, monitoring and evaluation, and partnership activity. This level of investment is required to ensure delivery at scale while maintaining service quality, staff wellbeing and equitable access for participants.

Key Risks and Mitigation

The Trustees recognise several key execution risks associated with this strategy:

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Trustee Oversight

Trustees will oversight progress against this strategy through the creation of steering committee and oversight the execution and the regular reporting on delivery, finance, risk and outcomes, ensuring alignment with Sister System’s charitable objectives and long-term sustainability. Trustees will do this both through the traditional governance reporting structure but also through the mobilisation of steering committees or sub-committees empowering Trustees and leadership to work more closely on the specific strands of our strategy.

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Sister System Annual Report & Accounts 2024-2025

section 3

Financial Report

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Financial Review The Trustees present the financial results of the charity for the year ended 31 October 2025. Overview of financial perforniaTrce The charity reported total income of £1,141,337 for the year {2024= £1.399,685). The reduction in income reflects a decrease in grant funding, particularly within restricted income streams, partly offset by an increase in unrestricted funding. Total expenditure for the year amounted to £1,236,464(2024.' £1,027,688), resulting in a net deficit of £95,126 (2024-. surplus of £371,997). This reflects a planned increase in programme delivery and organisational capacity to support the charitls activities. Income The charity continues to rely predominantly on grant funding, which represents the substantial majority of iotal income. Total income from donations and legacies amounted lo £1,141,434, of which £1,134,082 relates to grant income. Unrestricted income increased to £846,624 (2024.. £658.357). providing greater flexibility in the deploymenl of resources. Reslricted income reduced to £294,710 (2024: £741.328), reflecting the timing and profile of funding agreements and the completion of certain grant-funded programmes in the prior year. The Trustees note that, while the increase in unrestricted income strengthens financial flexibility, overall income remains subject to variability due lo the nature of grant funding. Expendlture Total expenditure increased io £1,236,464 (2024: £1,027,688), with £1,229.77 (2024: £1.017.877) applied to charitable activities. This represents a high proportion of total expenditure and demonstrates the charily's continued focus on delivering ils core objectives. Programme delivery costs increased to £1,040,433 (2024: £799,179), reflecting expanded activity levels. Support costs decreased to £108.071 (2024= £156.144), while premises and governance costs remained proportionate to the scale of operations. 29

The cost of promotional activity remained low at £6,688 (2024: £9,811), reflecting the charity’s grant-funded model.

Staff costs increased to £945,188 (2024: £642,475), driven by an increase in staff numbers dedicated to the charity activity (+6 people) and investment in organisational capacity. The Trustees consider this increase consistent with the growth in programme delivery.

Reserves and funds

At 31 October 2025, total funds amounted to £1,813,461 (2024: £1,908,588).

Unrestricted funds increased to £1,153,466 (2024: £839,446), reflecting the surplus generated on unrestricted activities. Restricted funds decreased to £659,995 (2024: £1,069,142), as previously committed funds were utilised in delivering charitable programmes.

The Trustees consider the level of unrestricted reserves to be appropriate to support the charity’s operations and to provide a degree of resilience against income volatility.

Financial position and liquidity

The charity maintains a strong liquidity position, with cash balances of £1,060,558 at year end (2024: £933,092). Net current assets totalled £1,802,287 (2024: £1,896,721) .

Debtors of £ 1,010,138 (2024: £1,228,192) include a significant level of accrued income, reflecting the timing of grant receipts. The Trustees continue to monitor working capital closely to ensure that sufficient liquidity is maintained.

Grants and Donor Analysis

The charity’s income is derived primarily from grants provided by a range of charitable trusts, foundations, and institutional funders.

Donor profile

During the year, the charity received grant funding from a diverse group of donors, including major contributions as detailed in the notes to the accounts. To preserve confidentiality and due to explicit request from the donors not all the names of donors are disclosed, while the number of funding partners remains broad, a significant proportion of total income is derived from a relatively small number of larger grants.

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Funding dynamics

The composition of funding changed during the year, with several large grants received in the prior year not recurring in 2025, and new funding relationships established with other donors. This reflects the project-based and time-limited nature of much of the charity’s funding.

Restricted income was lower in the current year, and the charity utilised a significant portion of previously received restricted funds in delivering its programmes. As a result, restricted fund balances reduced during the year.

Unrestricted funding increased, which provides the charity with greater flexibility in responding to emerging needs and supporting core operations.

Sustainability and risk considerations

The Trustees recognise that the charity’s reliance on grant funding, particularly larger individual grants, introduces a degree of income volatility. The turnover of major funders from year to year highlights the importance of maintaining a strong funding pipeline and developing longer-term funding relationships.

The Trustees continue to focus on:

These actions are intended to enhance the charity’s financial sustainability and resilience over the medium term.

Tangible fixed assets for use by the charity

Fixed assets are set out in Note 7 to the accounts.

Principal Funding Sources

The charity’s principal funding sources continue to comprise grants from a range of charitable trusts, foundations, and institutional funders, which represent the substantial majority of total income for the year. Funding is derived from a combination of established and new donor relationships, with a proportion of income concentrated among a small number of larger grants.

31

The funding profile reflects the project-based and time-limited nature of many grants. resulting in some Year￿n-year variabilty in income levels. During the year, the charity also saw an increase in unreslricted funding, providing greater flexibilily lo support core operations and strategic priorities. The Trustees remaln focused on maintaining a dlversifled fundlng base and strengthening longer-term funding partnerships to enhance financial sustainability- Further details are provided in the Financial Review section of this report. The charity adheres to the Code of Fundraising Practice. No professional fundraisers were used Oversight is provided by the Board. Reserves Policy The Trustees of Sister System recognise their responsibilty to establish and maintain a clear and Iransparent policy for managing the charit￿$ financial resources. including reserves. This is in accordance with the requirements of the Slalement of Recommended Praclice.. Accounling and Reporting by Chartties (Charities SORP (FRS 102)) and consistenl with the expectations of the Charity Commission for England and Wales. Reserves are defined as unrestricted funds that are freely available to support the eharity's ongoing activities, after excluding funds invested in fixed assets and any designated funds. The Trustees have reviewed the reserves policy during the year and consider that the level of free reserves held at the reporting dale remains appropriate in light of the charity's income profile. expendilure commitments, liquidity position. and principal risks. The policy is reviewed at least annually and more frequently where there are material ehanges in the charty's financial position, operating environment, or strategic plans. The Trustees Consider il prudent to maintain reserves sufficient to cover a minimum of three monlhs of core operating expendilure. In practice and given the inherenl variability in grant income and the CharIt￿S planned growth, the Trustees manage reserves with a targel range equivalent to approximately four to six months of operating costs. At 31 October 2025, total unrestrlcted funds amounted lo E1.153,486 {2024'. £839.446). Of our unrestricted funds, £370k is designated for expenditure for growth in FY25126. This leaves É783.486 in free reserves, which represents just under 6 months of expenditure for FY25126 and therefore is within our reserves policy. 32

Based on current expenditure levels, this represents a level of reserves above the upper end of the target range. The increase compared to the prior year reflects the generation of a surplus on unrestricted activities during the year, alongside the strategic management of income and expenditure in anticipation of future programme commitments and organisational growth.

The Trustees consider this position to be appropriate and consistent with a prudent approach to financial management. The charity delivers structured programmes with a typical duration of up to 36 months, which requires a stable and predictable funding base to ensure continuity of support for beneficiaries.

Reserves held above the target range are not considered surplus to requirements. Rather, they are being held to:

Maintaining an appropriate level of reserves ensures that the charity has sufficient liquidity to respond to unforeseen events, absorb short-term income shocks, and continue delivering services without disruption.

The reserves policy was reviewed in March 2025 and formally approved by the Board of Trustees in April 2025. The level of reserves is monitored on an ongoing basis by the Finance Committee, which meets regularly, with updates provided to the Board of Trustees.

33

Trustees’ Notes

The Trustees report that, despite a challenging external environment, including the continued impact of the cost-of-living crisis, Sister System has sustained its programme delivery and continued to support care-affected girls and young women. In this period, 205 girls and young women were referred to the organisation, of whom 191 received direct support.

During the year, the charity has maintained its focus on delivering structured interventions designed to achieve long-term impact. Supporting detail on engagement levels and programme outcomes is set out in the Impact Report.

The Trustees remain committed to ensuring that the charity’s governance, financial management, and operations are aligned with its mission. During the year, continued investment has been made in strengthening partnerships, developing programme delivery, and securing funding to support the charity’s sustainability and future growth.

The Trustees recognise that robust financial and operational controls are fundamental to safeguarding the charity’s assets and maintaining the confidence of beneficiaries, funders, and other stakeholders. During the year, a review of internal processes identified areas where controls and oversight could be enhanced.

In February 2024, the charity experienced a serious incident, which was reported to the Charity Commission in line with regulatory requirements. The Board of Trustees took direct oversight of the response and approved a series of actions to strengthen governance, financial controls, and operational processes. These actions included enhancements to financial monitoring, the introduction of strengthened controls over transactional processes, and the implementation of additional review and assurance procedures. We also recruited a Director of Operations, brought payroll in-house and built the finance team. External professional advisers were engaged to support this work, alongside the appointment of new accountants and auditors, to ensure that improvements were robust and aligned with best practice.

The Trustees are satisfied that the actions taken have strengthened the charity’s control environment and improved oversight of financial and operational activities.

In parallel, the composition of the Board was reviewed and refreshed during the year to ensure that it reflects an appropriate balance of skills, experience, and independence. Changes to the Board have been made to support effective governance, strengthen oversight, and align with the charity’s evolving scale and strategic priorities.

The Trustees consider that these developments have enhanced the charity’s governance framework and positioned the organisation to manage risk effectively while continuing to deliver and scale its impact.

34

Going Concern The Trustees have assessed the charity's financial posltion and consider it appropriale to adopt the going concem basis in prepèring the financial statemenls. This assessment includes a ieview of cash flow forecasts covering a period of at least 12 months from the date of approval of these financial statements. At 31 October 2025, the charity held unrestricted funds of £l.167.114, with free reselves of appioximately £1.1 S million after excluding fixed assets, and cash balances o* £1.060,558. These fesources provide a strong level of liquidity an¢J finallcial resilience relative lo the charity s current scale of operations. The Truslees recognise that the charitls incotne is primarily derived from grant funding, which may vary in timing and level. Accordingly. they have considered the concentration and Predictability of funding streams in pieparing financial forecasts and have mainlained enhanced oversight of income. expenditure. and cash flow. The Trustees have also considered the liability recognised wtthin current creditors at the reporting date, including amounts due to HMRC. 8ased on current cash resources and available unrestricted reserves, Ihe Trustees are satisfied that the charily is able to meet this obligatlon as it falls due. In addttlon. the Trustees have considered a range of reasonable scenarios. including the absence of any agreed payment deferral, and remain satisfied that the charity would continue to operate within ils available resources. Having regard to the charty's financial forecasts. ieserves position. liquidity, and prtncipal rlsks. the Trustees have a reasonable expectation thai ihe charity has adequate resources to continue in opeiational existerbce for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. Aliki Despina Georgakopulou (Co-chair) I" July 2026 35

CIO number: CE013613 Charity number: 1177669

----- Start of picture text -----
Sister System
(Charitable Incorporated Organisation, charity number 1177669)
Financial Statements
and
Trustees' Report
for the year ended 31 October 2025
----- End of picture text -----

AT Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Index to the Financial Statements for the year ended 31 October 2025

Page
Index to the Financial Statements 2
Charity Information 3
Statement of Trustees' Responsibilities 4
Independent Auditor's Report 5 - 6
Statement of Financial Activities 7
Statement of Financial Postion 8
Statement of Cash Flows 9
Accounting Policies 10 - 11
Notes to the Accounts 12 - 18

Page 2

/ Resigned on 14 May 2026 / Resigned on 8 May 2026

AT Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Statement of Trustees' Responsibilities

for the year ended 31 October 2025

The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are required by law to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of of resources of the charity for that period.

In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Charities Act 2011, the Charity (Accpounts and Reports) Regulations 2008 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Sister System Icharttablg Incorporated Organl8atlon, charlty number 11776691 Independent Auditorfs Report to the Trustees of Sister S stem We have audited the fnancial statements of Institute of Slsl8r System Ilhe'tharty) for fhe year ended 310clober 2024wPyth comprise th& slalement of financial act1￿1￿8, trE balance sheet. thp statement of c8sh flows and notes lo finanual st8tements. including svJnifttnl accoLtnting policies. Th& financial reporting framework thal has tn applled in IhÈyr preparation is appltcaNe and Unrted Kingdom AtcountirKJ Standards, induding Fin3ncial Reporting Slandar(1102 The Financial Re¥x)￿rt9 Standard applicable in UK and Republ￿ of I[e￿r￿ (United KKwdom Genw8HyAccepted Acctsthting Pratticel. In ouropqnlon, Ihe finanrial slatem&nts'. give a true and fair vlew of Ihe State of the chaiitws affairs as al 31 October 2024 and of ils thcomlw resource5 a￿ appliration of resources, for the ye¥ then ended.. have been property prepared in accordan￿ UThled Khgdom Ge￿rA¢¢ep1ed Accourting ProttitÈ,' and have b88n prepared in atcordancèwIth the Charthe5 Act 2011. Ba6isforopSnlo We corKJucted our audrt in accordance InternatiL￿1 St8ndard5 QnAUd￿n9 IUKI (ISA8 IUKII and appI￿a￿e L￿. Our responslblhli8s Lmderthose standards are furiher ijescribed in Ihp Audittirfs respon8ibililEs for the #udil of the financi8F statements section of our report. We are indepen¢ent of thÈ charlty In accordance y￿th the ethical requiremènts that are rdevanlto our a￿lit of the Inanaal stalernents in UK, inej￿IIn9 the FRC'S Ethical Standard, and havefU￿1Med our othtrr ethical re8ponsibilthe5 in a¢¢ord8nce Mth these requirements_ We ￿l￿ve that th6 audlt ewdence we have obtained sufficient and approprlate to provide a b8s13 for our Op￿￿n. Ctsntluslons relatlng to goittg concem In auditing thè financial ststements. wè have concfuded thatthe Trustee5 Use oflhe g￿n9 concem basis olawothting In Ih8 prep818tion of Ihe financial statements Is appmpriate. Based on thewotkwe have performed. we have not idertified any materisl Un￿rtsI￿tIes Elating to events or C￿diti(￿S that. irxlividualty or Co1￿CtIve￿, may ca51 significant doubt on charivs abil'ty lo Gonblluè as a golng concern for a period of at least twelve months frorn when thè fmanclal 8tatemenls are authorised forTSSUe. Our respDnsi￿lib?S and the responsibilrfies of Ihe trusl88s wlh Tespect lo going Goncern are deKribed In the relevant $ections of this report. Othèt Infomiatlon The olher infornallon comprises the info[W3t￿n irtluded In the annual report other than the flnand81 statements and our audilorf$ report Ihereon. The Iru51ees are rÈsponsibk for the other informati(k) contained ￿lMIn the anDual report. (￿r oplnlon on th& financial stslements dDPS not coverthe other inforrnation and we do not expre85 any form of assurance conclusion Ihereon. Qur responsibility i81e read the olhei infotmalion and, in d￿r￿j so. con$KIer￿￿￿Iher1he other Infomiation is material in¢onsl$lenl wlh the finanual 5tatetnents or knovAedge obtai￿d in the course of the audit. or olheTrwse appears to be materfalty misstated. If we idenlify such malerlal inconsistenaes or apparent materi81 nusstatements. we arè requirèd to determine vknethÈr Ihls gives rise lo a m8terial rnis5tatemeni In the fin8ncial 51alements themselves. If. based M thework v have performed. we conclude that IlEre is a tnatÈrial misstatement of thi5 ofher informallon. w8 are required lo report that fa¢t. We hav@ rK)thing to report in thi5 Tegard. Mattèts ot) whlch wo aro rwulred to report by exception We have T￿thing lo report in respect of ihe follow[￿ m8tters in relation to whith thÈ Charrtl8s IAccoL¥)t8 and Rewrtsl Regulations 2008 reqiires us to reporttD you rf. in wr opinion.. the infotTnation glven In thefmancral slatetnents is in<%)nsistent in any materi& re5peDtwitn th& TntslÈes report,. or sufficvent a¢¢(xJnling records have not bepn kept," Ihe finanaal stalerYEn15 3re not in agrtnènt￿th the 8ccounbW records.. or V￿ have not recewed al inft)Ymalon 8nd expl8nationy require for our audlt Rosponsibiliti88 of tru8t808 As explained more fvlty li the slalement of T￿Stee8 responsiknlilEs on page 13, Ihe Iruslee8 are responsible forthe prepamlion of the financlal stalernen15 and for being Sal￿fled that Ihey give a and fa[rv￿￿. and for such Inlernal CDntrd as the IIu8tees determi¥)e Is rEce5sary lo enable Ihe prepar8tion offinancial 5tments that are free from rnateria misstatement, Whe￿er due lo frdud OF error. In pr8parlng the fina￿la1 51alernerrts, IhÈ Injsleès are re5ponsibk fèr 8s$esslNJ the charity's 8bilty lo continue as a going Goncern. dlsdostiw, a5 aw)licablÈ. matters related lo going conGetn and th6 going concern basis of accounting urdpss Ihe trusl8e3 ellher intenri to tease operations. or have reaiistifj rftatwe bul to do $0. Pa9e S

Sister System l¢haritabl8 InconK•rated Organfj8atlon, ¢harfty number 11776691 Independent Auditor's Report to the Trustses of Sister System Audito￿$ responsibilitiets for audit of tho finan¢Eal stattmènts Wa have been appointed as auditor urtder sèction 144 01 th8 Charltf88 Act 2011 and report In accordar￿ ¥sllh Ihe Aci and Idev8nt regulations malle or hamng effect thereunder. Our objectives are lo obtain reasonabk assurance abwlwhether the financyal 818lemenls as 8 are free from material rn155taletnenl. whettEr due to fraud or error. and to issue an auditorts repDrf that includes our opinion. Rea50nablp assuran￿15 a hkJh levd of as$ur8nce but is rM)t a guarantee that an 8udit conducied in accordance ￿th ISAS IUKI Mll a￿ayS detect a msterial rrN$ststementwhen il exlsts. Mlsstalements can arlse trom fra￿ or error and are wnsidered material if, indivKlually or in the aggregate, Ihey Goukl reasonably be expected to inffuen the econotnic ded51on5 of users taken onthe basis of Ihese financial statemÈnts. IrregJLqr￿eS, Incbjdlng fraud, 8re Instancès ofnon<ompliance %￿lh and wulations. We desKJn procedures our respon5ibilitie5. (thine￿ above, to delecl material misslalerrEnts In respect of IrregularilEs. in￿l￿￿1n9 fraud. The extertto our procedures are Capa￿￿ of delÈ￿1ng Irreguiariiips. intludinu fr&d is deiailÈd bdDw'. Enquiry of mana9Èmenl. those tharged govÈmance about aciual and polenlk81 lthyation or daims and idwtthcab'on non-compliance with and regulations. Reviewing minute8 of meetings ofthose targed wlh governance. ReMw4ing finawal slaterY4enl dksd05ure5 and testing lo supportin9 documental￿n lo assess Com￿1￿n￿ appli¢gbte laws arKI wulatlons. Auditing the risk of mawement tsverrKSe of controL%, inLxlirvJ Ihrough te$b'rvJ •tries and olher a￿l￿￿rEntS for 8ppropriateness. Perfomin9 analy￿¢81 proc8dwes to ￿enlIty any unusual or unèxpected relalionsh4)s that indlcate risks of ma18rf misst8tetnent due lo fraud. Professional sceptsusm ￿ course of the audil wilh audit sarnpling in rnalerial SLKlil areas. Bec8us8 of the lthrent Ilmltalon8 of an aLKJil. there is a risk Ihai we not detect all Irregularft5es. Includlng those teadlng to a material mis8tatement in the financial staiem6nts or non-compllance ￿th regulallon. This risk IncÉases the more that Compliance￿￿th a law or regulation is removed ffom the events and transactions reflecle(S In Ihe financ¥al statements. as vwe VAII bÈ lÈss likety lo bÈcome aware of in5tsnces of nOn￿￿pIl￿nee. TIE risk is also gieater regardiry irr2gularthe5 occuffing to fraud rath6rth8n error, as fr8Lk1 Involves Inte￿onal corte8lmenL forg8ry, uluthn. OMIS￿On or mlsrewe8enWon. A further Llescripts"on of our responsibilitie5 is availabte on the Financial Reporting Council's website at.. https'.1fv￿￿.frc.￿g.u￿l8udlt0rsrespon3lbI1[tre￿. This desuiplion foms part of our audrtofs report. U88 of our r8POrt ThiÈ report is made lo IhÈ charivs trustees, as a body, n accordan￿ ¥￿th Part 4 of the Charities IAccounts and RepDrtsl RegLlallons 2￿8. Ow auditworf( has bn undertaken so thatwe might state to charity's tnJ$tees Ihose we are required lo stste to them In an audilo¢s report and for Do other purpose. Tothe fulle51 exienl permitted by law. we do not accept or assutnp responsitility lo anyone olheTthan the thaity and the charity's trustees as a body. fDr our auditwork, for this report, or oiNnions we have foimed. rBAF Forandon lJeh411of Kingston BurrowesAudltLtd, St8tutoryAudftor 308 Ewell Road Surbiton Surrey KT8 7AL Dated: 14 hlay 2026 KSng8lon Burrow88 Audll Ltd Is dlglble for apwjinlment 8s audltor of the cha￿ty by ￿rt{la of Ks 811￿bilItyf0r 8ppok*mwrt as auditor of 8 compary under seetion 1212 of the Companies Acl 2LNJ8. P4900

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Statement of Financial Activities

for the year ended 31 October 2025

Notes
Income from:
Donations and legacies
3
Investments
4
Total income
Expenditure on:
Raising funds
7
Charitable activities
6
Total expenditure
Net income/(expenditure) and movement in funds
Reconciliation of funds:
Total funds brought forward
12
Total funds carried forward
12		 2025
2024
Total Funds
Total Funds
£
£
1,141,334
1,399,685
3
-
1,141,337
1,399,685
6,688
9,811
1,229,776
1,017,877
1,236,464
1,027,688
(95,126)
371,997
1,908,588
1,536,591
1,813,461
1,908,588
Unrestricted
Funds		 Restricted
Funds
£
846,624
3		 £
294,710
-
294,710
5,744
698,113
703,857
(409,147)
1,069,142
659,995
846,627
944
531,663
532,607
314,020
839,446
1,153,466

All incoming resources and resources expended are derived from continuing activities. The accompanying accounting policies and notes form an integral part of these financial statements.

Page 7

Slster System (Chr￿￿• InG0rpOr4￿d ¢trltyn￿rnb•r 117TQnl 8t•tsm•nt of Flnanelal Po•tlon 4••t31 O¢tob•r 2025 Ji Oatoblr ZQ25 31 1)#obw 2024 T4Agibh A060t T•Wffx•d 11.8e7 11,E07 Curv•ntMMts.. 9.10 I,OfO.138 1.080.￿B 2ffjTo.￿6 1.228.192 3.092 Cosh atbBr Inlw Totsl c￿•￿￿￿￿.. rnnl Wwdwwlthln on•yw X4.$6J 1.W2387 Th•Jn& alth* ehwltr. 12 12 669.99$ 1.IS3.446 l.W.142 dwrftytund# 12 IAI3.481 Th•fl￿n￿￿ uh 14M•y24l••nd OTh h b•Wby: Aliki espina Georgakopoulou Co<halr of Trustegs Tho notes on pages 10 to 18 fomi part of these acco Pag9 8

Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Statement of Cash Flows

for the year ended 31 October 2025

Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)		 2025
£
(95,126)
5,957
(3)
218,054
3,846
132,727
3
(5,265)
(5,261)
127,466
933,092
1,060,558
2025
£
1,060,558
1,060,558		 2024
£
371,997
4,384
-
(67,951)
74,387
382,817
-
(12,432)
(12,432)
370,385
562,707
933,092
2024
£
933,092
933,092

Page 9

Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Accounting Policies

for the year ended 31 October 2025

Basis of preparation

The financial statements have been prepared in accordance with:

Public benefit entity

The charity meets the defination of a public benefit entity under FRS 102.

Income recognition

Income including donations, gifts and funds raised from fundraising events are recognised where there is entitlement, it is probable that the income will be received and that the amount can be measured reliably.

Income from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of income can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Income from grants, where related to performance and specific deliverables, is accounted for as the charitable company earns the right to consideration by its performance.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is recognised when a liability is incurred and is analysed as shown below:

Liabilites are classified according to the substance of the contractual arrangement entered into and are stated at their nominal amount.

Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition.

Fund accounting

Funds held by the charitable company are:

Unrestricted Funds

These are funds that can be used in accordance with the charitable objects at the discretion of the Board of Trustees.

Restricted Funds

These are funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

Page 10

Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Accounting Policies

for the year ended 31 October 2025

Pensions

The charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

Taxation

The company is a registered charity, and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available for registered charities.

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Investments

Investments in subsidiaries are measured at cost less impairment.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method.

Judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are absed on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The trustees do not consider any of these judgements or estimations to have any significant effect on the financial statements.

Page 11

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

The incoming resources and surplus are attributable to the principal activities of the charity.

Net outgoing resources
Net outgoing resources are stated after charging:
Auditors fees: audit services
Operating lease rentals charged to expenditure
Depreciation - owned assets
Trustees' emoluments		 2025
£
5,280
64,640
5,957
-		 2024
£
5,280
51,521
4,384
-

Trustees' emoluments

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services as trustees.

3
Donations and legacies
Donations
Grants [Note 22]
4
Investments
Interest received
5
Expenditure on raising funds
Promotional activity
6
Expenditure on charitable
activities
Programme delivery
Support costs
Premises
Governance		 Unrestricted
£
7,253
839,371
846,624
Unrestricted
£
3
3
Unrestricted
£
944
944
Unrestricted
£
466,983
57,873
783
6,024
531,663		 Restricted
£
-
294,710
294,710
Restricted
£
-
-
Restricted
£
5,744
5,744
Restricted
£
573,449
50,198
74,466
-
698,113		 2025
Total
£
7,253
1,134,082
1,141,334
2025
Total
£
3
3
2025
Total
£
6,688
6,688
2025
Total
£
1,040,433
108,071
75,248
6,024
1,229,776		 Unrestricted
£
11,696
646,661
658,357
Unrestricted
£
-
-
Unrestricted
£
6,419
6,419
Unrestricted
£
89,327
108,177
(120)
4,800
202,184		 Restricted
£
-
741,328
741,328
Restricted
£
-
-
Restricted
£
3,392
3,392
Restricted
£
709,852
47,967
57,873
-
815,693		 2024
Total
£
11,696
1,387,989
1,399,685
2024
Total
£
-
-
2024
Total
£
9,811
9,811
2024
Total
£
799,179
156,144
57,753
4,800
1,017,877

Page 12

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

7
Staff costs
All staff
Staff salaries
Staff social security
Staff pensions		 2025
2024
£
£
842,892
578,180
79,193
46,696
23,103
17,599
945,188
642,475

The charity considers its key management personnel to be the trustees and the executive director. The total employment benefits (including employer pension contributions) of the key management personnel were £91,257 (2024: £81,028).

The average number of employees the period was:

2025
FTE
No.
Employees
Charitable activities
-
-
Fundraising
-
-
Finance
-
-
Total
-
-
The average number of employees the period was:		 2025
2024
No.
No.
21
16
2
2
2
1
25
19

Aggregate amount of emoluments paid to board members or former board members during the year:

Nil Nil

The number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards were as follows:

£60,000 upwards were as follows:
No of employees
Band 2025 2024
£80,000 to £89,999 1 1

No remuneration was paid to any Trustee or their associates for services as a trustee during the year ended 31 October 2025 nor to 31 October 2024.

8
Tangible fixed assets
Tangible 1
Tangible 2
Technical
equipment
£
£
£
Cost
As at 1 November 2024
-
-
-
Additions
-
-
-
As at 31 October 2025
-
-
-
Depreciation
As at 1 November 2024
-
-
-
Charge for the year
-
-
-
As at 31 October 2025
-
-
-
Net book value
As at 31 October 2025
-
-
-
As at 31 October 2024
-
-
-
9
Debtors: amounts falling due within one year
Trade debtors
Accrued income
Deposits paid
Prepayments		 Fixtures &
fittings
£
3,077
-
3,077
473
627
1,101
1,976
2,603		 Office
equipment
£
18,866
5,265
24,131
9,603
5,330
14,932
9,198
9,263
2025
£
799,685
199,415
6,027
5,011
1,010,138		 Total
£
21,942
5,265
27,207
10,076
5,957
16,033
11,174
11,867
2024
£
39,472
771,759
2,981
4,391
818,604

Page 13

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

10 Debtors: amounts falling due after one year
Accrued income
11 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Social security & other taxes
Accruals		 2025
£
-
-
2025
£
508
4,149
255,088
8,665
268,409		 2024
£
409,588
409,588
2024
£
16,277
3,642
232,164
12,480
264,563
**12 ** The funds of the charity: current year
Restricted funds
Restricted income funds [Note 23]
Unrestricted funds
General funds		 Opening
balance
£
1,069,142
839,446
1,908,588		 Resources
arising
£
294,710
846,627
1,141,337		 Resources
utilised
£
(703,857)
(532,607)
(1,236,464)		 Other
movements
Closing
balance
£
£
-
659,995
-
1,153,466
-
1,813,461
The funds of the charity: prior year
Restricted funds
Restricted income funds [Note 24]
Unrestricted funds
General funds		 Opening
balance
£
1,140,847
395,744
1,536,591		 Resources
arising
£
741,328
658,357
1,399,685		 Resources
utilised
£
(819,085)
(208,603)
(1,027,688)		 Other
movements
£
6,052
(6,052)
-		 Closing
balance
£
1,069,142
839,446
1,908,588

13 The funds of the charity: prior year

14 Net assets attributable to funds: current period
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds
15 Net assets attributable to funds: prior period
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General funds
11,174
1,410,701
(268,409)
1,153,466
General funds
5,815
1,098,194
(264,563)
839,446		 Designated
funds
£
-
-
-
-
Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
659,995
-
659,995
Restricted
funds
£
6,052
1,063,090
-
1,069,142		 Endowment
funds
£
-
-
-
-
Endowment
funds
£
-
-
-
-		 Total
£
11,174
2,070,696
(268,409)
1,813,461
Total
£
11,867
2,161,284
(264,563)
1,908,588

16 Taxation

The company is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

Page 14

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

17 Pension commitments

The charity contributes to employee defined contribution (DC) stakeholder pension schemes. The assets of the schemes are held separately from those of the charity in independently administered funds.

18 Other financial commitments

Total operating lease commitments

At 31 October 2025, the charity had total commitments under non-cancellable operating leases as detailed below:

Within one year
Between one and five years		 2025
2024
-
-
-
-
-
-
Equipment		 2025
2024
£
£
41,598
40,006
1,623
22,117
43,221
62,123
Land & buildings		 2025
2024
£
£
41,598
40,006
1,623
22,117
43,221
62,123
Land & buildings
62,123

19 Contingent liabilities

The charity had no material contingent liabilities at 31 October 2025 nor at 31 October 2024.

20 Related party transactions

During the period the charity entered into transactions with the following related parties:

Mark Williams
- Quality Assurance advice
Esther Douglas
- Payroll costs
SisterSystem Incorporated CIC
- Grant received
Close relative of key
management personnel
Business owned by key
management personnel
Trustee		 2025
2024
£
£
1,282
1,309
32,316
15,980
-
1,000
32,316
16,980
Transactions		 2025
2024
£
£
-
-
-
-
-
-
-
-
Balances owed from / (to)		 2025
2024
£
£
-
-
-
-
-
-
-
-
Balances owed from / (to)
-

21 Regulatory status

The entity is a Charitable Incorporated Organisation (CIO) governed by its constitution, charity number 1177669.

Page 15

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

22 Donations and legacies - Grants
GLA New Deal for Young People
UK Youth - Thriving Minds
SisterSystem Incorporated CIC
The Leathersellers' Foundation
Smallwood Trust
AXA XL (cost of living additional)
NDFYP Propel
MOPAC (Call off Contract 2)
London Community Foundation
(MOPAC VAWG Grassroots Fund)
Bruno Schroder Trust
City Bridge Foundation
Born This Way Fdn
NPT Transatlantic
Esmee Fairbairn Foundation
Garfield Weston Foundation
MariaMarina
Esmee Fairbairn
Lloyds Bank community grant
Berkeley Foundation
BGF Foundation
CD&R Foundation
Charles Hayward Foundation
Children in Need
Drapers Charitable Fund
Impetus
Bruno Schroder Trust
MOPAC
NPT Transatlantic
Rayne Foundation
Segelman Trust
Greenwood Place
London Community Foundation		 Unrestricted
£
-
-
-
2,500
-
3,471
-
-
-
-
-
-
-
2,250
-
210,000
1,150
-
-
100,000
195,000
-
-
20,000
55,000
50,000
-
-
-
160,000
40,000
-
839,371		 Restricted
£
-
-
-
-
1,317
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
50,000
60,000
-
-
-
50,393
8,000
50,000
-
-
75,000
294,710		 2025
Total
£
-
-
-
2,500
1,317
3,471
-
-
-
-
-
-
-
2,250
-
210,000
1,150
-
-
100,000
195,000
50,000
60,000
20,000
55,000
50,000
50,393
8,000
50,000
160,000
40,000
75,000
1,134,081		 Unrestricted
£
-
13,000
-
-
-
3,571
-
-
-
37,500
-
-
-
309,090
50,000
-
5,000
2,500
1,000
-
225,000
-
-
-
-
-
-
-
-
-
-
-
646,661		 Restricted
£
24,791
-
1,000
-
-
-
133,365
62,992
95,378
-
380,080
41,222
2,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
741,328		 2024
Total
£
24,791
13,000
1,000
-
-
3,571
133,365
62,992
95,378
37,500
380,080
41,222
2,500
309,090
50,000
-
5,000
2,500
1,000
-
225,000
-
-
-
-
-
-
-
-
-
-
-
1,387,989

Page 16

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

23 Restricted funds: current period - 2025
UK Youth
Redbridge EHCP
Haringey Council Household Support Fund
William Wates Fund
GLA New Deal for Young People
The National Lottery
KPMG Foundation
NDYP Scale Up
Berkeley Foundation
Peabody Community Fund
Smallwood Trust
AXA XL
Paul Hamlyn Foundation
NDFYP Propel
MOPAC (Call off Contract 2)
City Bridge Foundation
Born This Way Fdn
NPT Transatlantic
Charles Hayward Foundation
Children in Need
MOPAC
NPT Transatlantic
Rayne Foundation
London Community Foundation
London Community Foundation (MOPAC VAWG
Grassroots Fund)
London Community Foundation VAWG Cost of Living
Fund
The Big Give Champions For Children Fundraiser		 Opening
balance
£
7,275
1,200
2,569
207
24,791
155,912
66,720
37,500
6,940
19,130
5,752
5,575
33,762
29,752
117,930
97,115
29,860
57,499
344,990
22,165
2,500
-
-
-
-
-
-
1,069,142		 Incoming
resources
£
-
-
-
-
-
-
-
-
-
-
-
-
1,317
-
-
-
-
-
-
-
-
50,000
60,000
50,393
8,000
50,000
75,000
294,710		 Resources
expended
£
-
-
-
(207)
-
(151,459)
(54,581)
(37,500)
(6,940)
(19,130)
-
(5,575)
(17,141)
(29,752)
(52,564)
(83,213)
(30,620)
(49,370)
(49,826)
(22,165)
(2,500)
(3,390)
(13,778)
(29,520)
(8,000)
(14,581)
(22,045)
(703,857)		 Transfers &
gains/(losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2025
Closing
balance
£
7,275
1,200
2,569
-
24,791
4,453
12,139
-
-
-
5,752
-
17,938
-
65,366
13,902
(761)
8,129
295,164
-
-
46,610
46,222
20,873
-
35,419
52,955
659,995

Page 17

FS Sister System

(Charitable Incorporated Organisation, charity number 1177669)

Notes to the Accounts

for the year ended 31 October 2025

24 Restricted funds: prior period - 2024
LCRF Wave - City Bridge Trust
LCRF Wave - VAWG
Smallwood (Frontline Women's Fund)
ESFA - Equipment
VAWG/LCRF/MOPAC
UK Youth
ROSA & Smallwood Women's Thrive Fund
Solace Women's Fund (Labyrinth Project)
Haringey Giving - SS Got Talent
Kickstart - DWP
Redbridge EHCP
Haringey Council Household Support Fund
William Wates Fund
Sis-star Income (Bridge Renewal Cornerstone)
GLA New Deal for Young People
Homecooked Bridge Renewal Trust
Your Best Friend Safe Lives
Windrush Day Grant
SisterSystem Incorporated CIC
The National Lottery
MOPAC Sisterhood Enhanced
The Listening Fund
KPMG Foundation
Haringey Together we Can
The Leathersellers' Foundation
NDYP Scale Up
Haingey Household Support
Berkeley Foundation
Peabody Community Fund
Smallwood Trust
AXA XL
Paul Hamlyn Foundation
NDFYP Propel
MOPAC (Call off Contract 2)
City Bridge Foundation
Born This Way Fdn
NPT Transatlantic
Safer Neighbourhood Board Haringey (Bridge
Renewal Trust)
London Community Foundation (MOPAC VAWG
Grassroots Fund)
London Community Foundation VAWG Cost of Living
Fund
The Big Give Champions For Children Fundraiser		 Opening
balance
£
2,293
1,252
923
4,158
3,002
7,275
36
2,977
1,049
10,245
5,787
2,569
18,005
410
62,481
3,572
13,027
1,263
38
264,009
2,803
138,235
40,640
105,612
1,154
2,428
142,565
-
30,000
24,911
5,752
5,575
50,191
36,610
150,000
-
-
-
-
-
-
1,140,847		 Incoming
resources
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
24,791
-
-
-
1,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
133,365
62,992
95,378
380,080
41,222
2,500
741,328		 Resources
expended
£
(2,293)
(1,252)
(923)
(4,158)
(3,002)
-
(36)
(2,977)
(1,080)
(10,392)
(4,587)
-
(17,798)
(410)
(62,481)
(3,572)
(13,027)
(1,300)
(1,853)
(108,097)
(2,825)
(138,237)
(43,069)
(38,892)
(1,154)
(2,428)
(105,065)
(2,569)
(23,061)
(5,781)
-
-
(16,429)
(6,858)
(32,070)
(36,250)
(33,132)
(37,879)
(35,090)
(19,057)
-
(819,085)		 Transfers &
gains/(losses)
£
-
-
-
-
-
-
-
-
31
147
-
-
-
-
-
-
-
37
815
-
22
2
2,429
-
-
-
-
2,569
-
-
-
-
-
-
-
-
-
-
-
-
-
6,052		 2024
Closing
balance
£
-
-
-
-
-
7,275
-
-
-
-
1,200
2,569
207
-
24,791
-
-
-
-
155,912
-
-
-
66,720
-
-
37,500
-
6,940
19,130
5,752
5,575
33,762
29,752
117,930
97,115
29,860
57,499
344,990
22,165
2,500
1,069,142

Page 18

involve@sistersystem.org

0300 102 1803

@Thesistersystem

@sister_system