OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-06-30-accounts

Young Ladies Club

Charity Number: 1179653

Company Number: 08233912

Report and accounts For the year ended 30 June 2021

1

Contents

For the year ended 30 June 2021

Administrative Information …………………………………………………………………3 Report of the Trustees ……………………………………………………………………..4 Independent Examiners Report ………………………………………………………….11 Statement of Financial Activities (incorporating income and expenditure) ………….13 Balance Sheet ……………………………………………………………………………..15 Notes to the Accounts ……………………………………………………………...…17-23

2

Young Ladies Club

Administrative Information

Company number: 08233912

Charity number: 1179653

Registered Office

260 Woodstreet Walthamstow London E17 3NG

Trustees

Trustees, who are also directors under company law, who served during the years and up to the date of this report were as follows;

P.Jones Y. Musa M. Meade

Key Management Personnel

Hannah Oyewole (Chief Executive Officer)

Accountants

Charles Luf & Co 11 Pearson Street London E2 8JD

3

Young Ladies Club

Report of the trustees for the year ended 30[th] June 2021

The trustees present their annual report and accounts for the year ended 30[th] June 2021.

The trustees report has been prepared in accordance with the charities SORP (FRS 102), the trust deed and the Charities Act 2011.

Our Objectives and Activities

The objects of the charity are to act as a resource for young ladies by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

  1. Advancing in life and helping young ladies by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;

2. Advancing education;

  1. Relieving unemployment;

  2. Providing confidence building workshops and mentoring programmes to support young ladies who are unemployed and from disadvantaged backgrounds.

  3. Providing support and intervention programmes for girls in gangs and NEETS.

4

Our Mission

Young Ladies Club aims to raise aspirations in disadvantaged young women to achieve their education and career potential by providing mentoring, confidence building activities and career workshops from positive role models.

Our Vision

Young Ladies Cub envisions a world where young women’s socioeconomic background does not impact educational and career outcomes.

How our activities deliver public benefit

The charity’s main activities are described below. We provide a range of programmes for young women and girls to help increase their selfesteem and confidence and achieve their education and career potential.

We review our aims, objectives and activities each year. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Activities and achievements

The main areas of our charitable activity fall under our core programmes which are;

5

Mentoring Programmes

Our mentoring programmes provide vital support to help girls (aged 1215) from disadvantaged backgrounds develop their self-esteem, confidence, and academic skills. Due to the pandemic we moved our service provision from offline (face to face delivery) to online delivery.

We carried out weekly sessions during term time with existing partner schools. The girls were supported by volunteer mentors and their teachers and participated in an interactive weekly curriculum with positive activities. Staff and volunteer training was adapted online to ensure safe and impactful delivery.

45 girls were positively impacted through one to one mentoring.

The programme impacted our beneficiaries positively, this resulted in;

The online delivery helped to create a sense of belonging amongst participants and created significant value.

We also developed a new online mentoring programme during the pandemic for young women (aged 18-25). The programme helped young women develop their career skills. The programme spanned across five weeks and impacted and reached 1,548 young women digitally.

6

Employability and Skills Programmes

Our employability and skills programmes develop young women’s skills and talent to lead them to a better future in life. We partnered with PwC (multinational professional services network of firms) and provided an online employability and skills session with employees from different departments in PwC which include; People and Organisation, Digital Audit and Tax. The session provided young women from universities (aged 18-21) with insight into the careers of PwC employees and employment opportunities available within the organisation. The session reached and impacted 260 young women digitally.

Personal Development Programmes

Our personal development programmes enable young women to develop their confidence and self-esteem through a variety of workshop and activities:

7

We delivered sessions in each of the areas highlighted above online to young women aged 19-25 from our local community (Waltham Forest). 30 young women participated in the session and developed vision boards, goals for their future, creative and relationship building skills

Financial review

The year ended with a total income of £80,389 (2020: £23,250) and total expenses of £69,209 (2020: 19,128). This is an increase in income from the previous year (2020). The charity reserves as of 30 June 2021 were £15,302

Principle risks and uncertainties

The trustees have identified that the main risk to the charity relate to income generation. In order to mitigate funding risks, we will continue to diversify our funding streams. The trustees will continue to analyse risks faced by the charity and ensure the appropriate measures are in place to mitigate against further risks.

Plans for the future

Due to COVID-19 our organisation had to adapt quickly. This in turn led to the provision of our services online. This created a unique opportunity for growth in the future as our online programmes can now have an even wider reach to new locations and the types of young women that have been previously harder to reach.

The success of our online employability and skills programme which was previously only delivered off-line will enable us to continuously engage and work with our university partners as well as positively impact university students, providing more unique career opportunities and experiences.

8

Structure, governance and management

The organisation is a charitable company limited by guarantee. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

Responsibility for the day to day operations and the leadership of both the staff and volunteer team is delegated to the Senior Management Team. Ultimate responsibility lies with the board of trustees.

All trustees give their time voluntarily and receive no benefits from the charity. No expenses were claimed by Trustees in this financial year.

Statement of Trustees responsibilities

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

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

9

to any material departures disclosed and explained in the financial statements

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The report was approved by trustees on 30/06/2021 and signed on their behalf by:

Melissa Meade

(Chair of Trustees)

10

Independent examiners report

To the trustees of

Young Ladies Club

I report to the charity trustees on my examination of the accounts of Young Ladies Club for the year ended 30 June 2021.

Responsibilities and basis of the report

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

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

Independent examiners statement

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

11

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

Charles Luf (Accountant)

Charles Luf & Co

11 Pearson Street London E2 8JD

30/06/2021

12

YOUNG LADIES CLUB Statement of Financial Activities

for the year ended 30 June 2021

Notes
Income and endowments
from:
Grants
4
Donations
5
Total
Expenditure on:
Raising Funds
6
Other
7
Total
Net gains on investments
Net income
8
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
78,000
2,389		 Total funds
2021
£
78,000
2,389		 Total funds
2020
£
20,000
3,250
80,389
37,400
31,809		 80,389
37,400
31,809		 23,250
10.127
9,001
69,209
-		 69,209
-		 19,128
-
11,180
-		 11,180
-		 4,122
-
11,180 11,180 4,122
11,180
4,122		 11,180
4,122		 4,122
15,302 15,302 4,122

13

YOUNG LADIES CLUB Summary Income and Expenditure Account

for the year ended 30 June 2021

Income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income before tax for the year
Tax payable
Net income for the year		 2021
£
80,389
80,389
67,780
1,429
69,209
11,180
-
11,180		 2020
£
23,250
23,250
17,356
1,439
19,128
4,122
-
4,122

14

YOUNG LADIES CLUB Balance Sheet

at 30 June 2021

Company No.
08233912
Notes
2021
£
Fixed assets
Tangible assets
10
4,287
4,287
Current assets
Debtors
11
16,687
Cash at bank and in hand
2,458
19,145
Creditors:Amount falling due within one year
12
-
Net current assets/(liabilities)
19,145
Total assets less current liabilities
23,432
Creditors:Amounts falling due after more than one year
13
(8,130)
Net assets excluding pension asset or liability
15,302
Total net assets
15,302
The funds of the charity
Restricted funds
14
Unrestricted funds
14
General funds
15,302
15,302
Reserves
14
Total funds
15,302		 2020
£
5,716
5,716
5,232
1,537
6,769
(8,363)
(1,594)
4,122
-
4,122
4,122
4,122
4,122
4,122

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 30 June 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 June 2021

And signed on its behalf by:

P. Jones Trustee 30 June 2021

15

YOUNG LADIES CLUB Statement of Cash flows for the year ended 30 June 2021

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Increase in trade and other receivables
(Decrease)/Increase in trade and other payables
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Dividends, interest and rents from investments
Net cash from/(used in) investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2021
£
11,180
1,429
(2,389)
(11,355)
(233)
(1,368)
2,389
2,389
-
1,021
1,537
2,558
2,458
2,458		 2020
£
4,122
1,429
(3,250)
(5,332)
8,363
5,332
3,250
(3,895)
-
1,437
-
1,437
1,537
1,537

16

YOUNG LADIES CLUB Notes to the Accounts

for the year ended 30 June 2021

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

17

YOUNG LADIES CLUB Notes to the Accounts

Expenditure

Taxation

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

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

18

YOUNG LADIES CLUB Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

19

YOUNG LADIES CLUB

Notes to the Accounts

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Grant
Donations
Total
Expenditure on:
Raising Funds
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from Grant
5
Donations		 Unrestricted
£
78,000
78,000
Unrestricted
£
2,389
2,389		 Unrestricted
funds
2020
£
20,000
3,250
23,250
4,012
6,115
9,001
19,128
4,122
4,122
4,122
100
4,222
Total
2021
£
78,000
78,000
Total
2021
£
2,389
2,389		 Total funds
2020
£
20,000
3,250
23,250
4,012
6,115
9,001
19,128
4,122
4,122
4,122
4,122
Total
2020
£
20,000
20,000
Total
2020
£
3,250
3,250

20

YOUNG LADIES CLUB

Notes to the Accounts

6 Expenditure on Charitable Activities 1

Costs of Raising Fund
7
Other expenditure
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
9
Staff costs
No employee received emoluments in excess of £60,000.
10 Tangible fixed assets
Cost or revaluation
At 1 July 2020
At 30 June 2021
Depreciation and
impairment
At 1 July 2020
Depreciation charge for the
year
At 30 June 2021
Net book values
At 30 June 2021
At 30 June 2020		 Unrestricted
£
37,400
37,400
Unrestricted
£
6,345
12,391
1,429
7,282
4,362
31,809
2021
£
1,429		 Total
2021
£
-
37,400
37,400
Total
2021
£
6,345
12,391
1,429
7,282
4,362
31,809
£
7,145
7,145
1,429
1,429
2,858
4,287
5,716		 Total
2020
£
4,122
-
4,122
Total
2020
£
2,322
2,788
1,439
2,327
125
9,001
2020
£
1,439
£
7,145
7,145
1,429
1,429
2,858
4,287
5,716

21

YOUNG LADIES CLUB Notes to the Accounts

11 Debtors

Trade debtors
Other debtors
Prepayments and accrued income
12 Creditors:
amounts falling due within one year
Corporation tax
Other creditors
13 Creditors:
amounts falling due after more than one year
Trade creditors
14 Movement in funds
At 1 July
2020
Restricted funds:
Unrestricted funds:
General funds
4,122
Total funds
4,122
15 Analysis of net assets between funds
Fixed assets
Net current assets
Creditors due in more than one year and
provisions		 2021
£
2,115
14,120
452
16,687
2021
£
-
-
-
2021
£
8,130
8,130
Incoming
resources
(including
other
gains/losses
)
£
80,389
80,389
Unrestricted
funds
£
4,287
9,124
(8,130)
5,281		 Resources
expended
£
(69,209)
(69,209)
Restricted
funds
£
-
10,021
-
10,021		 2020
£
5,332
-
-
5,332
2020
£
333
8,030
8,363
2020
£
-
-
At 30 June
2021
£
15,302
15,302
Total
£
4,287
19,145
(8,130)
15,302

22

YOUNG LADIES CLUB Notes to the Accounts

16 Reconciliation of net debt

Cash and cash equivalents
Net debt		 At 1 July
2020
£		 Cash flows
£		 At 30 June
2021
£
1,537 921 2,458
1,537
1,537		 921
921		 2,458
2,458

17 Related party disclosures Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

23

YOUNG LADIES CLUB Detailed Statement of Financial Activities

for the year ended 30 June 2021

Income and endowments from:
Grants
Donations
Total income
Expenditure on:
Costs of Raising Fund
Total of expenditure on raising
funds
Motor and travel costs
Travel and subsistence
Premises costs
Rent
Light, heat and power
Premises cleaning
General administrative costs,
including depreciation and
amortisation
Depreciation of
Information and publications
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees		 Unrestricted
funds
2021
£
78,000
78,000
2,389
2,389
80,389
-
37,400
37,400
37,400
6,345
6,345
10,000
1,325
1,066
12,391
1,429
314
411
4,217
575
256
-
1,509
8,711
750		 Total funds
2021
£
78,000
78,000
2,389
2,389
80,389
-
37,400
37,400
37,400
6,345
6,345
10,000
1,325
1,066
12,391
1,429
314
411
4,217
575
256
-
1,509
8,711
750		 Total funds
2020
£
20,000
20,000
3,250
3,250
23,250
6,115
4,012
-
10,127
10,127
2,322
2,322
2,002
521
265
2,788
1,439
325
315
-
879
215
115
478
3,766
-

24

YOUNG LADIES CLUB Detailed Statement of Financial Activities

YOUNG LADIES CLUB
Detailed Statement of Financial Activities
Consultancy fees
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 3,612
4,362
31,809
69,209
-
11,180
11,180
-
11,180
4,122
15,302		 3,612
4,362
31,809
69,209
-
11,180
11,180
-
11,180
4,122
15,302		 125
125
9,001
19,128
-
4,122
4,122
-
4,122
4,122

25