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2022-06-30-accounts

Young Ladies Club

Charity Number: 1179653

Company Number: 08233912

Report and accounts For the year ended 30 June 2022

1

Contents

For the year ended 30 June 2022

Administrative Information ..................................................................................................... 3 Report of the Trustees .......................................................................................................... 4 Independent Examiners Report .......................................................................................... 1 4 Statement of Financial Activities (incorporating income and expenditure) ................. 1 6 Balance Sheet ....................................................................................................................... 1 8 Notes to the Accounts ..................................................................................................... 27 - 36

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 year and up to the date of this report were as follows;

P.Jones I.Mogaji (appointed 22 July 2022) H. Apanpa (appointed 23 June 2022) Y.Musa (resigned 8 July 2022) M.Meade (resigned 10 June 2022)

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 2022

The trustees present their annual report and accounts for the year ended 30[th ] June 2022

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.

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.

65 girls were positively impacted through one to one mentoring (an increase from 45 from last year).

The programme impacted our beneficiaries positively, this resulted in;

Due to the popularity of our online mentoring programme during COVID we continued with our service provision. This enabled us to reach new beneficiaries. The online programme spanned across six weeks (an additional week added from last year which was 5 weeks). We were able to reach a total 1852 young women digitally (an increase of 1548 from last year).

95% of mentees enjoyed the mentoring session and reported that the programme raised their education and career aspirations.

6

Employability and Skills Programme

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) three more times which highlights the strength of our corporate relationship. We provided an online mentoring bootcamp session which enabled young women from universities across the UK to upgrade their employability skills and confidence. The mentoring bootcamp session was split into three core areas which were;

- Aspiring Leaders

The aspiring leader’s session enabled young women to hear from top level directors at PwC, who detailed their career journey and how they developed their confidence and overcame their personal challenges in life.

- Group Mentoring Session

The group mentoring session enabled young women to learn from PwC mentors about the ir role in PwC and the skills and qualifications required to join the organisation.

- CV & Interview Workshop

The CV & Interview Workshop enabled young women to gain hints and tips on what makes a good CV and interview techniques. Mentees also gained an overview of the entry routes into PwC.

Overall, the programme was successful, and we had 350 registrants for the session. 97% of attendees reported that the session provided them with the right amount of information required to apply for PwC and insight into the career opportunities available. In addition, 95% of attendees reported that they would refer a friend to the mentoring session.

7

Due to the popularity and success of our first PwC mentoring bootcamp we launched a second bootcamp closer to the start of the new term. We delivered a duplicate mentoring bootcamp and 300 new young women registered for the programme.

We also delivered a new programme with PwC due to the success of the two mentoring bootcamps online. The programme was focused on early years university students. The programme featured junior employees and directors from PwC. Employees provided advice and vital skills necessary to work for PwC. In addition to this, mentees were also able to learn more about why diversity and inclusion is important to PwC.

Personal Development Programme

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

We delivered sessions in each of the areas highlighted above online to young women aged 19-25 from our local community (Waltham Forest). 55 young women participated in the session (an increase from last year which was 30) and developed vision boards, goals for their future, creative and relationship building skills

8

VAWG Programme

Our VAWG programme has moved from strength to strength. As we have delivered a series of workshops, offline and online programmes and events to help black and minoritsed young women break the cycle of domestic abuse and its effects. We launched our online programme ‘The Conversation Live’ which featured a panel of guest speakers who provided advice on building positive relationships, developing mental health and well-being strategies, identifying red flags in relationships and breaking the cycle of abuse. The online event hosted 50 black and minortised women. Due to the success of the online event we hosted a live event ‘The Conversation Live’ (Breakfast Edition) which featured a panel of women that have lived experiences with domestic abuse. The event created a safe space for black and minoritsed women to learn from others and develop safety tips to prevent and escape domestic abuse. The event was attended by 30 women and we had 8 women featured on our panel.

Following on from our successful event we then hosted another online relationship event on our Instagram page in line with Black History Month. The Instagram event hosted 50 black and minoritised women and provided an open Q&A platform for them to gain more tips on building healthy relationships.

9

Crime Prevention Programme

We delivered a crime prevention session in Waltham Forest, which helped young women understand the consequences of joining gangs, knife crime and peer pressure. The crime prevention session catered to 30 young women and provided a dynamic and engaging environment for young women to work together, stay motivated and express their views and opinions about their importance in society and how they could contribute positively.

96% of participants reported that the crime prevention session helped them make better quality decision regarding their future.

Financial review

The year ended with a total income of £167,180 (2021: £80,389) and total expenses of £108,792 (2021: £69,209). The charity reserves as of 30 June 2022 were £73,690 (2021: £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

We aim to continue to focus on our organisation’s mission and vision and will continue to deliver quality services to our beneficiaries. Our programmes are a great resource and provides vital support. We aim to continue to strengthen our programmes and our delivery. We recognise that we are moving on from the pandemic, however the cost of living crisis has presented challenges to our beneficiaries. Therefore, we aim to prioritise and meet the pressing needs of our beneficiaries at this time. We have had the opportunity to capacity build our organisation and we will continue to build upon this through other

10

development programmes. Our key focus areas for the future of the organisation are as follows;

  1. To continue to increase our impact and influence in the lives of young women and girls.

  2. To strengthen our partnerships and collaboration and expand our corporate sponsorships.

  3. To continue to strengthen our position and presence in the charity sector for women and girls.

11

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:

12

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 30/06/2022 and signed on their behalf by:

Patrick Jones

(Chair of Trustees)

13

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 2022.

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:

14

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

30/06/2022

15

YOUNG LADIES CLUB Statement of Financial Activities

for the year ended 30 June 2022

Unrestricted
funds
2022
Notes
£
Income and endowments
from:
Donations and legacies
4
3,209
Contracts/Grants
5
131,471
Other trading activities
6
-
Investments
7
-
Other
8
-
Total
134,680
Expenditure on:
Raising funds
9
15,075
Charitable activities
10
32,214
Other
12
30,503
Total
77,792
Net gains on investments
-
Net income
13
56,888
Transfers between funds
-
Net income before other
gains/(losses)
56,888
Other gains and losses
Gains on revaluation of
fixed assets
-
Actuarial Gains on defined
benefit pension schemes
-
Other Gains
-
Net movement in funds
56,888
Reconciliation of funds:
Total funds brought forward
15,302
Total funds carried forward
72,190		 Unrestricted
funds
2022
Notes
£
Income and endowments
from:
Donations and legacies
4
3,209
Contracts/Grants
5
131,471
Other trading activities
6
-
Investments
7
-
Other
8
-
Total
134,680
Expenditure on:
Raising funds
9
15,075
Charitable activities
10
32,214
Other
12
30,503
Total
77,792
Net gains on investments
-
Net income
13
56,888
Transfers between funds
-
Net income before other
gains/(losses)
56,888
Other gains and losses
Gains on revaluation of
fixed assets
-
Actuarial Gains on defined
benefit pension schemes
-
Other Gains
-
Net movement in funds
56,888
Reconciliation of funds:
Total funds brought forward
15,302
Total funds carried forward
72,190		 Restricted
funds
2022
£
-
32,500
-
-
-		 2022
£
-
-
-
-
-		 Total funds
2022
£
3,209
163,971
-
-
-		 Total funds
2021
£
-
80,389
-
-
-
32,500
-
31,000		 -
-
-		 167,180
15,075
63,214
30,503		 80,389
37,400
-
31,809
77,792
-		 31,000
-		 -
-		 108,792
-		 69,209
-
1,500
-		 -
-		 58,388
-		 11,180
-
56,888
-
-
-		 1,500
-
-
-		 -
-
-
-		 58,388
-
-
-		 11,180
-
-
-
56,888
15,302		 1,500
-		 -
-		 58,388
15,302		 11,180
4,122
72,190 1,500 - 73,690 15,302

16

YOUNG LADIES CLUB Summary Income and Expenditure Account

for the year ended 30 June 2022

Income
Net gains on investments
Interest and investment income
Gross income for the year
Expenditure
Interest payable
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		 2022
£
167,180
-
-
167,180
103,072
-
5,720
108,792
58,388
-
58,388		 2021
£
80,389
-
-
80,389
67,780
-
1,429
69,209
11,180
-
11,180

17

YOUNG LADIES CLUB Balance Sheet

at 30 June 2022

Company No.
08233912
Notes
2022
£
Fixed assets
Intangible assets
16
-
Tangible assets
17
31,271
Investments
18
-
31,271
Current assets
Stocks
19
-
Debtors
20
38,304
Investments
21
-
Cash at bank and in hand
4,115
42,419
Creditors:Amount falling due within one year
22
-
Net current assets
42,419
Total assets less current liabilities
73,690
Creditors:Amounts falling due after more than one year
24
-
Provisions for liabilities
27
-
Net assets excluding pension asset or liability
73,690
Defined benefit pension scheme asset
-
Total net assets
73,690
The funds of the charity
Restricted funds
28
Endowment funds
-
Restricted income funds
1,500
1,500
Unrestricted funds
28
General funds
(59,281)
Designated funds
131,471
72,190
Reserves
28
Revaluation reserve
-
Pension reserve
-
-
Total funds
73,690		 2021
£
-
4,287
-
4,287
-
16,687
-
2,458
19,145
-
19,145
23,432
(8,130)
-
15,302
-
15,302
-
-
-
15,302
-
15,302
-
-
-
15,302

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

18

YOUNG LADIES CLUB Balance Sheet

For the year ended 30 June 2022 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 2022

And signed on its behalf by:

P. Jones

Trustee

30 June 2022

19

YOUNG LADIES CLUB Statement of Cash flows for the year ended 30 June 2022

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Movement in provisions
Depreciation of property, plant and equipment
Amortisation of intangible assets
Impairment losses
Loss on disposal of tangible fixed assets
Loss on disposal of intangible fixed assets
Loss on disposal of investments
Dividends, interest and rents from investments
Receipts from donations of endowments
Other gains/losses
Decrease in stocks
Increase in trade and other receivables
Decrease in trade and other payables
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Proceeds from sales of property, plant and equipment
Payments for property, plant and equipment
Proceeds from sale of intangible assets
Payments for intangible assets
Proceeds from sale of investments
Payments for investments
Dividends, interest and rents from investments
Net cash (used in)/from investing activities
Cash flows from financing activities
Repayment of borrowings
Proceeds from new borrowings
Repayments of obligations under finance lease and hire
purchase contracts
Proceeds from new finance lease and hire purchase contracts
Receipts from donations of endowments
Net cash from financing activities		 2022
£
58,388
-
6,970
-
-
-
-
-
-
-
-
-
(21,617)
(8,130)
35,611
-
(33,954)
-
-
-
-
-
(33,954)
-
-
-
-
-
-		 2021
£
11,180
-
1,429
-
-
-
-
-
(2,389)
-
-
-
(11,355)
(233)
(1,368)
-
-
-
-
-
-
2,389
2,389
-
-
-
-
-
-

20

YOUNG LADIES CLUB Statement of Cash flows

YOUNG LADIES CLUB
Statement of Cash flows
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
Bank overdrafts		 1,657
2,458
4,115
4,115
-
4,115		 1,021
1,537
2,558
2,458
-
2,458

21

YOUNG LADIES CLUB

Detailed Statement of Financial Activities

for the year ended 30 June 2022

Income and endowments from:
Charitable Activities
Charitable activities
Contracts/Grants
Other trading activities
Investments
Other
Total income and endowments
Expenditure on:
Costs of generating donations and
legacies		 Unrestricte
d funds
2022
£
3,209
-
-
-
3,209
131,471
-
-
-
131,471
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
134,680
-
-
-
-		 Restricted
funds
2022
£
-
-
-
-
-
32,500
-
-
-
32,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,500
-
-
-
-		 2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2022
£
3,209
-
-
-
3,209
163,971
-
-
-
163,971
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
167,180
-
-
-
-		 Total funds
2021
£
-
-
-
-
-
80,389
-
-
-
80,389
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
80,389
-
-
-
-

22

YOUNG LADIES CLUB Detailed Statement of Financial Activities

Costs of other trading activities
Investment management costs
Total of expenditure on raising
funds
Charitable activities
Charitable Activities
Grants made
Governance costs
Total of expenditure on charitable
activities
Other expenditure
Bank loan and overdraft interest
payable
Other interest payable
Corporation tax charge/(credit)
Employee costs
Salaries/wages
Directors' remuneration
Employer's NIC
Pension costs		 -
15,075
-
-
-
15,075
-
-
-
-
-
15,075
32,214
-
-
-
-
32,214
-
-
-
-
-
32,214
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
31,000
-
-
-
-
31,000
-
-
-
-
-
31,000
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
15,075
-
-
-
15,075
-
-
-
-
-
15,075
63,214
-
-
-
-
63,214
-
-
-
-
-
63,214
-
-
-
-
-
-
-
-
-
-
-
-		 -
37,400
-
-
-
37,400
-
-
-
-
-
37,400
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

23

YOUNG LADIES CLUB

Detailed Statement of Financial Activities

Staff entertainment
Staff recruitment
Staff training
Staff welfare
Temporary staff
Motor and travel costs
Vehicles - General costs
Vehicles - Leasing and hire costs
Vehicles - Fuel
Vehicles - Insurance and licences
Vehicles - Repairs and
maintenance
Travel and subsistence
Business mileage costs
reimbursed
Fares
Premises costs
Rent
Rates
Light, heat and power
Premises cleaning
Premises insurances
Premises repairs and
maintenance
Other premises costs
General administrative costs,
including depreciation and
amortisation
Amortisation
Depreciation of land and
buildings
Depreciation of
Depreciation of
Depreciation of
Loss on disposal of intangible
fixed assets
Loss on disposal of tangible fixed
assets
Impairment losses - intangible FA
Impairment losses - tangible
FA/investments
Bad debts
Bank charges		 -
-
-
-
-
-
-
-
-
-
-
6,105
-
-
6,105
9,600
-
1,065
302
-
-
-
10,967
-
-
5,720
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
6,105
-
-
6,105
9,600
-
1,065
302
-
-
-
10,967
-
-
5,720
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
6,345
-
-
6,345
10,000
-
1,325
1,066
-
-
-
12,391
-
-
1,429
-
-
-
-
-
-
-
-

24

YOUNG LADIES CLUB

Detailed Statement of Financial Activities

Equipment expensed
Equipment leasing and hire
charges
Equipment repairs and
maintenance
Exchange rate (gain)/loss
General insurances
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
Accountancy and bookkeeping
Consultancy fees
Management charges
Solicitor's fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other recognised gains and losses
Gains on revaluation of fixed
assets
Actuarial Gains on defined
benefit pension schemes
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward		 -
-
-
-
-
1,441
426
1,325
508
447
-
1,109
10,976
-
-
1,655
-
-
800
2,455
30,503
77,792
-
56,888
-
56,888
-
-
-
56,888
15,302		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
31,000
-
1,500
-
1,500
-
-
-
1,500
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
1,441
426
1,325
508
447
-
1,109
10,976
-
-
1,655
-
-
800
2,455
30,503
108,792
-
58,388
-
58,388
-
-
-
58,388
15,302		 -
-
-
-
-
314
411
4,217
575
256
-
1,509
8,711
750
-
3,612
-
-
-
4,362
31,809
69,209
-
11,180
-
11,180
-
-
-
11,180
4,122

25

YOUNG LADIES CLUB Detailed Statement of Financial Activities

Total funds carried forward

72,190 1,500

15,302

26

YOUNG LADIES CLUB Notes to the Accounts

for the year ended 30 June 2022

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

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

27

YOUNG LADIES CLUB Notes to the Accounts

Expenditure

Taxation

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

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

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.

28

YOUNG LADIES CLUB Notes to the Accounts

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.

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.

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.

29

YOUNG LADIES CLUB Notes to the Accounts

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.

30

YOUNG LADIES CLUB

Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses:
Gains on revaluation of fixed assets
Actuarial Gains on defined benefit pension
schemes
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
78,000
-
-
-
2,389
80,389
37,400
-
31,809
69,209
-
11,180
-
11,180
-
-
-
11,180
4,122
15,302		 2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2021
£
78,000
-
-
-
2,389
80,389
37,400
-
31,809
69,209
-
11,180
-
11,180
-
-
-
11,180
4,122
15,302

31

YOUNG LADIES CLUB Notes to the Accounts

4 Income from donations and legacies

Unrestricted
£
3,209
-
-
-
3,209		 Restricted
£
-
-
-
-
-		 Endowment
£
-
-
-
-
-		 Total
2022
£
3,209
-
-
-
3,209		 Total
2021
£
-
-
-
-
Charitable Activities
-

Donated goods, facilities and services received

5
Income from charitable activities
Unrestricted
£
Contracts/Grants
131,471
-
-
-
131,471
6
Income from other trading activities
Unrestricted
£
-
-
-
-
-		 Restricted
£
32,500
-
-
-
32,500
Restricted
£
-
-
-
-
-		 Endowment
£
-
-
-
-
-
Endowment
£
-
-
-
-
-		 Total
2022
£
-
-
-
-
-
-
Total
2022
£
163,971
-
-
-
163,971
Total
2022
£
-
-
-
-
-		 Total
2021
£
-
-
-
-
-
-
Total
2021
£
80,389
-
-
-
80,389
Total
2021
£
-
-
-
-
-

32

YOUNG LADIES CLUB Notes to the Accounts

YOUNG LADIES CLUB
Notes to the Accounts
7
Income from investments
8
Other income		 Unrestricted
£
-
-
-
-
-
Unrestricted
£
-
-
-
-
-		 Restricted
£
-
-
-
-
-
Restricted
£
-
-
-
-
-		 Endowment
£
-
-
-
-
-
Endowment
£
-
-
-
-
-		 Total
2022
£
-
-
-
-
-
Total
2022
£
-
-
-
-
-		 Total
2021
£
-
-
-
-
-
Total
2021
£
-
-
-
-
-
9
Expenditure on raising funds
Costs of generating voluntary
income
Fundraising trading costs
Investment management
costs		 Unrestricted
£
-
-
-
-
15,075
-
-
-
-
-
-
-
15,075		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2022
£
-
-
-
-
15,075
-
-
-
-
-
-
-
15,075		 Total
2021
£
-
-
-
-
37,400
-
-
-
-
-
-
-
37,400

33

YOUNG LADIES CLUB

Notes to the Accounts

10 Expenditure on charitable activities

Expenditure on charitable
activities
Charitable Activities
Grants made
Governance costs
11 Analysis of grants
Activity or programme
Activity or programme		 Unrestricted
£
32,214
-
-
-
-
-
-
-
-
32,214
Grants to
Institutions
£		 Restricted
£
31,000
-
-
-
-
-
-
-
-
31,000
Grants to
Individuals
£		 Endowment
£
-
-
-
-
-
-
-
-
-
-
Support
Costs
£
-
-
-
-
-
Support
Costs
£
-
-
-
-
-		 Total
2022
£
63,214
-
-
-
-
-
-
-
-
63,214
Total
2022
£
-
-
-
-
-
Total
2022
£
-
-
-
-
-		 Total
2021
£
-
-
-
-
-
-
-
-
-
-
Total
2021
£
-
-
-
-
- -
- -
- -
- -
-
Activities
undertaken
directly
£		 -
Grant
funding of
activities
£		 -
Total
2021
£
- - -
- - -
- - -
- - -
- - -

34

YOUNG LADIES CLUB Notes to the Accounts

12 Other expenditure

Unrestricted
£
-
-
-
-
Bank loan and overdraft
interest payable
-
Other interest payable
-
Corporation tax
charge/(credit)
-
Employee costs
-
Motor and travel costs
6,105
Premises costs
10,967
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
5,720
General administrative costs
5,256
Legal and professional costs
2,455
30,503
13 Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
Depreciation of assets held under finance
leases and hire purchase contracts
Amortisation of intangible fixed assets
Auditors' remuneration
Independent Examiner's fee
Other fees paid to the auditor or
independent examiner
Ex-gratia payments		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2022
£
5,720
-
-
-
-
-
-		 Total
2022
£
-
-
-
-
-
-
-
-
6,105
10,967
5,720
5,256
2,455
30,503		 Total
2021
£
-
-
-
-
-
-
-
-
6,345
12,391
1,429
7,282
4,362
31,809
2021
£
1,429
-
-
-
-
-
-

35

YOUNG LADIES CLUB Notes to the Accounts 14 Tangible fixed assets

Cost or revaluation
At 1 July 2021
Additions
Revaluation
Transfers
Disposals
At 30 June 2022
Depreciation and
impairment
At 1 July 2021
Depreciation charge for the
year
Impairment
Revaluation
Transfers
Disposals
At 30 June 2022
Net book values
At 30 June 2022
At 30 June 2021
Net book values of assets
held under finance leases
and hire purchase contracts
and included above
At 30 June 2022
At 30 June 2021		 Land and
buildings
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 £
7,145
21,454
-
-
-
28,599
2,858
5,720
-
-
-
-
8,578
20,021
4,287
-
-		 £
-
12,500
-
-
-
12,500
-
1,250
-
-
-
-
1,250
11,250
-
-
-		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
£
7,145
33,954
-
-
-
41,099
2,858
6,970
-
-
-
-
9,828
31,271
4,287
-
-

36