The Charity Registration Number is: 1182317
GAIN - Girls are Investors
Report and Accounts
31 December 2023
## **GAIN - Girls are Investors**
## **Report and accounts for the year ended 31 December 2023**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||1|
|**Statement of Trustees' Responsibilities**||10|
|**Independent Examiner's Report**||11|
|**Funds Statements:**|||
|Statement of Financial Activities||13|
|Revenue Funds||15|
|Income and Expenditure account||16|
|**Balance sheet**||17|
|**Cash flow statement**||18|
|**Notes to the accounts**||21|
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
The Trustees present their Report and Accounts for the year ended 31 December 2023.
## **Reference and administrative details.**
**The charity’s name.**
The legal name of the charity is: GAIN (Girls are Investors).
The charity is also known by its operating name, GAIN.
## **The charity's areas of operation and UK charitable registration.**
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1182317. The charity does not operate in any overseas jurisdictions.
## **Legal structure of the charity.**
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the CCEW.
There are no restrictions in the governing documents on the operation of the Charity other than those imposed by Charity Law.
The trustees are all individuals.
## **The principal operating address, telephone number, email and web addresses of the charity are:**
36 Bridger Close Felpham West Sussex PO22 8FT
## **The Trustees in office on the date the report was approved were:**
Anne Marie Fleurbaaij - Co-Chair Natasha Braginsky Mounier - Co-Chair Tilly Franklin Charlotte Yonge Caroline Hultman Rahul Moodgal
## **The following persons served as Trustees during the year ended 31 December 2023:**
The trustees who served as a trustee in the reporting period, and, if applicable, their dates of appointment or resignation during the year were:
## _**Name**_
_**Appointed**_
_**Resigned/Retired**_
Tilly Franklin Anne Marie Fleurbaaij Charlotte Yonge Caroline Hultman Rahul Moodgal Natasha Braginsky Mounier
1
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **Objects and activities of the charity.**
## **The purposes of the charity as set out in its governing document.**
GAIN is a community of investors set to change the staggering lack of gender diversity in investment management, from the ground up. GAIN educates young women about and inspires them to pursue careers in investing with a suite of online resources and a strong network of female role models, who speak in high schools and universities around the UK and feature on our online channels, delivering compelling and high-impact messages on the many benefits of investing as a career.
The objects of the CIO are:
(1) To advance the education of the public in the fundamental skills necessary for careers in professional investing and investment related fields: financial analysis, investment strategy, basic finance concepts and economics, critical thinking and analysis, presentation skills and leadership concepts;
(2) The promotion of equality and diversity for the public benefit by providing educational and work experience initiatives targeting girls and women attending schools, colleges and universities designed to address the underrepresentation of women in senior decision-making roles within the investment industry.
## **The main activities undertaken in relation to those purposes during the year.**
GAIN is building a substantial volunteer network, which comprised c.1800 subscribers to our volunteer newsletter at the end of the 2023 calendar year, representing 500+ investment companies. The volunteers leverage GAIN's content to deliver educational talks in schools and universities around the UK.
## **The main activities undertaken during the year to further the charity's purpose for the public benefit.**
GAIN provides a comprehensive range of events, online content and programmes to educate students, including:
• multiple online & in-person events at schools and universities in the UK and our first GAIN Student Awards Event;
• introduction of work experience insight days provided by sponsor firms to students at schools and universities;
• new podcast introduced in 2023 to educate students on investment topics.
We also provide mentoring opportunities on our programmes and help students realise their career ambitions. We offer the following programmes:
- the annual GAIN Empower Investment Internship Programme, the GAIN Investment Insight Programme (GIIP), and the GAIN Schools Investment Challenge.
## **The short term and longer term aims and objectives.**
GAIN's mission is to inspire and empower the next generation of women and non-binary investment professionals by providing a platform for learning, career development and networking.
Our vision is to reach 25,000 women and non-binary students each year by 2030 and aspire to increase their rate of application to investment firms to 30% in the longer term.
## **The charity's strategies for achieving its aims and objectives in the future.**
GAIN will continue to provide a comprehensive range of events, online content and programmes to educate students (as listed above).
2
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **How the activities undertaken during the year contributed to the achievement of the aims and objectives.**
GAIN continues to inspire and empower the next generation of women and non-binary professionals by offering additional learning and career development opportunities. We have also expanded our provision of networking opportunities, increasing the number of insight days arranged with firms and networking opportunities during the programmes.
## **Resources used in the activities undertaken during the year.**
GAIN leverages a small, dedicated team to deliver the events, programmes and content to students throughout the year. With our charitable status, we are able to benefit from non-profit discounts in technology & other resources to enable us to deliver our content in an effective and sustainable way.
## **Social investment policies and how these contributed to the achievement of charity's aims and objectives during the year.**
GAIN does not make social investments. Donations and sponsorship received directly support GAIN's activities during the year.
## **The contribution of volunteers during the year.**
Volunteers continue to be a key component of GAIN's work. At the end of 2023, GAIN had 1800+ volunteers registered and receiving the volunteer newsletter. Volunteers from the investment management industry contribute by speaking at online and in-person events, as guests on the GAIN podcast, mentoring students and providing additional content for the GAIN website.
## **The main achievements and performance of the charity during the year.**
In 2023, GAIN expanded its outreach to students. With our increased outreach and volunteer support, we were able to reach 10,240 students in the year. Some key successes include:
- Organised 173 events throughout the year;
- Expanded the GAIN Empower Investment Internship Programme. The programme includes a comprehensive preparatory training programme and pairing with industry mentors. In 2023 this programme had a:
- 71% increase in student applications
- 51% increase in participating firms
- 63% of interns were offered an investment role or secured a subsequent internship with an investment firm
- Increased the GAIN Investment Insight Programme from 50 in 2022 to 100 university students in 2023. The programme included weekly information sessions, 1:1 mentoring, a virtual portfolio competition and insight days with investment firms in London & Edinburgh;
- Revamped the GAIN website;
- Launched the GAIN Meets podcast;
- Launched student insight days hosted by investment firms for school and university students;
- Increased outreach & social media following:
- 67% increase in LinkedIn followers
- 53% increase in Instagram followers
- 59% increase in student newsletter sign ups
- Volunteer outreach has increased with 1800+ subscribers to our volunteer newsletter at the end of 2023. Throughout the year, we created 533 volunteer opportunities (school talks, panel events, workshops, mentoring etc).
3
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **Fundraising activities during the year.**
GAIN raised £739,510 in total funding in 2023, which was more than adequate to fund the charity’s operations during the period.
- £529,870 from corporate donations
- £91,176 from grants
- £11,782 from individual personal donations
- £105,833 from the GAIN Internship Programme
- £849 from the GAIN Bursary donations
Most of the charity’s funding comes from corporate donations & sponsorship. In addition, there are a small number of grants from industry sponsors and initiatives.
## **The difference the charity's performance during the year has made to the beneficiaries of the charity.**
GAIN's performance during 2023 has positively impacted the beneficiaries of the charity. We have seen an increase in both applications and participation for all our programmes. With 63% of interns obtaining full-time roles in the investment industry following their internship in 2023, GAIN is directly impacting the number of women entering the industry.
## **The degree to which the achievements and performance during the year have benefited wider society.**
Only 12% of investment portfolios are currently run by women and 20% of applications to the investment management industry are from young women. 63% of students who have completed an internship through the GAIN programme have been offered an investment role or secured a subsequent internship (this excludes those who are still at university and those who did not respond to our follow up survey) demonstrating the degree to which we are making an impact and benefitting wider society.
## **The significant charitable activities undertaken in the year.**
The main activities during 2023 were:
Programmes: the annual GAIN Empower Investment Internship Programme, the GAIN Investment Insight Programme (GIIP), the GAIN Schools Investment Challenge.
## Events & online resources, including:
- multiple online & in-person events at schools and universities in the UK and our first GAIN Student Awards Event;
- introduction of work experience insight days provided by sponsor firms to students at school and university;
- new podcast introduced in 2023 to educate students on investment topics.
## **How the achievements during the year measure up to the objectives set.**
In 2023, we exceeded all our objectives including: number of students reached via our events & programmes, volunteer engagement and donations received.
4
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **The performance of material fundraising activities during the year against the fundraising objectives set.**
GAIN is principally funded by corporate sponsorship. Objectives set for sponsorship & grants received during 2023 were comfortably exceeded.
## **Expenditure incurred in the year in order to raise income in the future.**
GAIN has not incurred any material expenses in the year in order to raise income in the future.
## **Structure, governance and management of the charity.**
## **The methods used to recruit and appoint new charity trustees.**
Current GAIN trustees are to appoint new charity trustees as long as these individuals are eligible for trusteeship and understand the functions and duties of a trustee. There are no minimum or maximum number of trustees that can be appointed and no set term for each trustee.
Any appointment must be made at a meeting held according to the ordinary practice of the appointing body.
## **The policies and procedures for the induction and training of trustees.**
We have a customised approach whereby we provide a new trustee with
- 1) essential information about the organisation, its mission and governance structure;
- 2) the support of a buddy already on the board;
- 3) facilitate introductions to other trustees, employees and stakeholders;
- 4) direct the trustee to any relevant training opportunities.
## **The charity's organisational structure.**
GAIN has 6 Trustees and 1 CEO with 6 direct reports (Programmes Manager, Marketing Manager, Events Manager, Educational Partnerships Manager, Administrative Manager, Finance & Operations Coordinator).
The Programmes Manager has 1 direct report (Programme Coordinator).
The Educational Partnerships Manager has 1 direct report (Education Partnerships Coordinator).
## **How the charity makes decisions and how decisions are delegated.**
The GAIN team (CEO and below) have responsibility for day-to-day decision making and keep the Trustees updated on this in a bi-weekly update.
Strategic decisions are made at quarterly meetings involving the Trustees and the GAIN team.
5
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **The Chief Executive Officer and other senior management personnel to whom day-to-day management is delegated.**
Day-to-day management is shared between the CEO, Programmes Manager, Marketing Manager, Events Manager, Educational Partnerships Manager.
## **Setting pay and remuneration of key management personnel.**
This is managed by the CEO with oversight from the Remuneration & Nominations Committee.
## **The charity as a part of a wider network.**
GAIN is an independent charity supported by sponsors and volunteers. The relationships with our sponsors are managed by our CEO. Relationships with our volunteers are managed by the GAIN team depending on the initiative the volunteer is involved with.
## **The charity's relationships with related parties.**
GAIN partners with a non-profit organisation called Level 20 for our Internship Programme, this relationship is managed by our Programmes Team (day to day) and CEO (strategic).
We work with a number of third parties to deliver our programmes, events and services and these relationships are managed by the teams that use the third party's services.
Contract negotiation is managed by the CEO.
Bankers Barclays Bank, 1 Churchill Place, London, E14 5HP Solicitors Goodwin Proctor London, 100 Cheapside, London, EC2V 6DY Accountants HS Tax Advisers Ltd, 15 Hillcrest Avenue, Edgware, Middlesex, HA8 8NZ
## **Financial review**
## **The charity's financial position at the end of the year ended 31 December 2023.**
The financial position of the charity at 31 December 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:
|**Net income**
Unrestricted Revenue Funds available for the general purposes of
the charity
**Total Funds**|**2023**
**£**
309,012
682,402
682,402|**2022**
**£**
159,390
373,390
373,390|
|---|---|---|
6
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **Financial review of the position at the reporting date, 31 December 2023.**
GAIN raised £739,510 in funding from corporate sponsors in the investment management industry, personal donations, grants & the internship programme during the calendar year 2023, which was more than adequate to fund the charity’s operations during the period. At the end of the year we had cash reserves of £673,188.
The trustees consider the financial performance by the charity during the year to have been satisfactory.
## **Policies on reserves.**
The Trustees of the charity have considered an appropriate policy on reserves and have decided to retain a minimum of twelve months of average operating costs as reserves. This has been set at £450,000 as at 31 December 2023.
The charity intends to hold these reserves for unexpected drops in income and will spend them on
its charitable activities. Reserves are also held for opportunities to expand the charity’s activities that the Trustees regularly consider.
The Trustees will review the reserves policy on an annual basis to take account of the changing circumstances of the charity.
## **Availability and adequacy of assets of each of the funds.**
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
## **Significant events which have affected the financial performance and the financial position.**
GAIN has been selected as a UK charity partner by the Foundation of a Global Investment Firm, receiving £78,532 in 2023.
Sponsorship has also, across the board, been strong.
In addition, our internship programme has grown and with this, our revenue for intern programme fees which we charge to cover our administration costs and training we organise for interns on our programme.
7
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **The major risks to which the Charity is exposed and reviews and systems to mitigate them.**
GAIN has identified the following 5 key risks for the charity and put mitigants in place for the risk or has an action item to mitigate the risk:
1) Compliance: risk of failure to comply with legislation and reporting appropriate to the size of our organisation resulting in reputational and financial damage. Mitigant in place: Key legal and regulatory requirements identified with key compliance procedures involving compliance monitoring and reporting and preparation for compliance visits. All legal matters checked with legal counsel & Accountant to ensure legal and regulatory requirements met. Action Item: Recruit a trustee with appropriate experience to the Board of Trustees.
2) Cyber & Information Security: Risk that the technology systems and support are inadequate or fail to adapt to changing requirements; systems are vulnerable to cyber-attacks or cannot continue in a disaster with failing network/cloud access. Mitigant in place: Team Cyber Security lead appointed. All employee laptops have Avast VPN installed 24/7 to avoid hacking and tracking by malicious third parties. Customer data stored on Salesforce with its own data security in place. Employee data stored on Breathe with its own data security in place. Action Item: Ongoing cyber security training undertaken by Cyber Security lead. Cyber security health check on GAIN systems to be completed.
3) Volunteer Engagement Decline: Significant reduction in Volunteering from Volunteer network. Mitigant in place: Frequent follow ups with volunteers have been implemented after every volunteer event to collect, review, and respond to feedback. Annual volunteers meeting in place to keep volunteers updated and invite feedback. Volunteer contributions regularly celebrated in organisation's social media.
4) Reputational Risk: Reputational failures could cause catastrophic risk to GAIN, both in terms of our implied "license to operate" within schools and universities and our ability to generate financial/other support from donors and supporters. Mitigant in place: CEO with oversight from Trustee Board maintain an open, transparent, and compliant culture including compliance with all relevant legal processes, 1x year publishing of impact report on organisational activities and achievements, regular sponsor updates. Implementation in Q1 2004 of a 5-point partnerships criteria framework to assess suitability of collaboration with non-investment firms.
5) Sponsorship decline: Failure to be financially sustainable as a charity/termination of funding. Mitigant in place: CEO maintains regular schedule of meetings with potential sponsors and current sponsors including at renewal date. CEO with support from Trustee board keeps organisation relevant/up to date within the industry.
## **Factors likely to affect future financial performance.**
We continue to grow our sponsorship base, therefore our income is likely to grow. Our internship programme is also growing year on year which will generate an increase in income.
## **Principal funding sources in the year and how these support the key objectives of the charity.**
The principal sources of funding for GAIN are sponsorship/donations, grants and the Internship Programme. This funding enables GAIN to pay the team salaries who organise and deliver the various initiatives (events, programmes, school investment challenge, talks) that support the key objectives of GAIN.
8
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **Plans For the Future.**
## **Summary of plans for the future and the trustees' perspective of the future direction of the charity.**
GAIN continues to focus on delivery high quality content, events and programmes to students. Expectations are that GAIN will continue at the current rate of growth and reach 25,000+ students each year by 2029 (10-year anniversary).
## **Details of The Independent Examiner.**
Hemel Shah FCA, CTA Member of Institute of Chartered Accountants in England and Wales 15 Hillcrest Avenue Edgware Middlesex HA8 8NZ
9
## **GAIN - Girls are Investors**
## **Trustees' Annual Report for the year ended 31 December 2023**
## **Statement of Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to:
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law);
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on
## 24 July 2024
ANNE MARIE FLEURBAAIJ Trustee
10
## **GAIN - Girls are Investors**
## **Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 December 2023**
I report to the Trustees on my examination of the financial statements of the charity on pages 13 to 31 for the year ended 31 December 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 21.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
As described on page 10, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
Since the charity's gross income exceeded £250,000, the charity's examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am an authorised member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
11
## **GAIN - Girls are Investors**
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
## **Independent Examiner's Statement, Report and Opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:
The gross income of the charity in the year ended 31 December 2023 appears to exceed the sum specified in Section 145(3) of the Act, namely £250,000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of Institute of Chartered Accountants in England and Wales.
The accounts are being examined in the circumstances specified in Regulation 34(3)(b, and the date when the Charity Commission dispensed with the requirements for audit under Section 144(1) of the Charities Act 2011 (the Act) of the Act was 31 December 2023.
This is a report in respect of an examination carried out under section 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
In the course of my examination no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011; the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination;
- have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
## **Signed:**
Hemel Shah FCA, CTA - Independent Examiner Institute of Chartered Accountants in England and Wales 15 Hillcrest Avenue Edgware Middlesex HA8 8NZ
This report was signed on 24 July 2024
12
## **GAIN - Girls are Investors - Statement of Financial Activities for the year ended 31 December 2023**
## **Statement of Financial Activities for the year ended 31 December 2023.**
|**SORP**
**Current year**
**Ref**
**Unrestricted**
**Funds**
**2023**
**£**
**Income & Endowments from:**
Donations & Legacies
A1
739,510
**Expenditure on:**
Charitable activities
B2
430,498
**Total expenditure**
**B**
**430,498**
**Net income for the year**
**309,012**
**Net income after transfers**
**A-B-C**
**309,012**
**Net movement in funds**
**309,012**
**Reconciliation of funds:**
**E**
**Total funds brought forward**
373,390
**Total funds carried forward**
**682,402**|**Current year**
**Restricted**
**Funds**
**2023**
**£**
-
-
**-**
**-**
**-**
**-**
-
**-**|**Current year**
**Total Funds**
**2023**
**£**
**739,510**
**430,498**
**430,498**
**309,012**
**309,012**
**309,012**
**373,390**
**682,402**|**Prior Year**
**Total Funds**
**2022**
**£**
435,186
275,796|
|---|---|---|---|
||||**275,796**|
|||||
||||**159,390**|
||||**159,390**|
||||**159,390**
214,000|
||||**373,390**|
The “SORP Ref” indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required.
## **All activities derive from continuing operations.**
## **The notes attached on pages 21 to 31 form an integral part of these accounts.**
13
## **GAIN - Girls are Investors - Statement of Financial Activities for the year ended 31 December 2023**
**GAIN - Girls are Investors - Resources applied in the year ended 31 December 2023 towards fixed assets for Charity use:**
|**assets for Charity use:**|||
|---|---|---|
|Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Other applications of funds
**Net resources available to fund charitable activities**|**2023**
**£**
-
(6,881)
-
**(6,881)**|**2022**
**£**
-
(1,150)
-|
|||**(1,150)**|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
**The notes attached on pages 21 to 31 form an integral part of these accounts.**
14
## **GAIN - Girls are Investors - Statement of Financial Activities for the year ended 31 December 2023**
**Movements in revenue and capital funds for the year ended 31 December 2023**
## **Revenue accumulated funds**
|**Unrestricted**
**Funds**
**2023**
**£**
Accumulated funds brought forward
373,390
Recognised gains and losses before
transfers
309,012
**682,402**
**Closing revenue funds**
**682,402**
**Summary of funds**
**Unrestricted**
**and**
**Designated funds**
**2023**
**£**
Revenue accumulated funds
682,402|**Restricted**
**Funds**
**2023**
**£**
-
-
**-**
**-**
**Restricted**
**Funds**
**2023**
**£**
-|**Total**
**Funds**
**2023**
**£**
373,390
309,012
**682,401**
**682,402**
**Total**
**Funds**
**2023**
**£**
**682,402**|**Last year**
**Total Funds**
**2022**
**£**
**214,000**
159,390|
|---|---|---|---|
||||**373,390**|
||||**373,390**|
||||**Last Year**
**Total Funds**
**2022**
**£**
373,390|
**The notes attached on pages 21 to 31 form an integral part of these accounts.**
15
## **GAIN - Girls are Investors - Statement of Financial Activities for the year ended 31 December 2023**
## **GAIN - Girls are Investors**
## **Income and Expenditure Account for the year ended 31 December 2023 as required by the Companies Act 2006**
|**Income**
Income from operations
**Gross income in the year before exceptional items**
**Gross income in the year including exceptional items**
**Expenditure**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Realised losses on disposals of social investments which are programme related
**Total expenditure in the year**
**Net income before tax in the financial year**
Tax on surplus on ordinary activities
**Net income after tax in the financial year**
**Retained surplus for the financial year**|**2023**
**£**
739,510
**739,510**
**739,510**
427,821
2,677
-
**430,498**
**309,012**
-
**309,012**
**309,012**|**2022**
**£**
435,186|
|---|---|---|
|||**435,186**|
|||**435,186**|
|||275,413
383
-|
|||**275,796**|
|||**159,390**
-|
|||**159,390**|
|||**159,390**|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 21 to 31 form an integral part of these accounts.**
16
## **GAIN - Girls are Investors - Balance Sheet as at 31 December 2023**
|**Note**
**SORP**
**Ref**
**2023**
**£**
**Fixed assets**
A
Tangible assets
9
A2
4,971
**Total fixed assets**
4,971
**Current assets**
B
Debtors
10
B2
7,500
Cash at bank and in hand
B4
673,188
**Total current assets**
680,688
**Creditors: amounts falling due within**
**one year**
11
C1
(3,257)
**Net current assets**
677,431
**The total net assets of the charity**
**682,402**
**The total net assets of the charity are funded by the funds of the charity, as follows:**|**2022**
**£**
767|
|---|---|
||767
-
372,625|
||372,625
-|
||372,625|
||**373,392**|
|||
**Restricted funds** - -
## **Unrestricted Funds**
|Unrestricted Revenue Funds
14
D3
**Total charity funds**|682,402
373,392
**682,402**|373,392|
|---|---|---|
|||**373,392**|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA.
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 12.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies’ regime.
## **ANNE MARIE FLEURBAIJJ**
Trustee
> Approved by the board of trustees on 24 July 2024
## **The notes attached on pages 21 to 31 form an integral part of these accounts.**
17
## **GAIN - Girls are Investors**
## **Cash Flow Statement for the year ended 31 December 2023**
|**Cash flows from operating activities**
Net cash provided by operating activities as shown below
**A**
**Cash flows from investing activities**
Purchase of property, plant and equipment
**Cash flows from financing activities**
**Net cash provided by financing activities**
**C**
**Overall cash provided by all activities**
**A+B+C**
**Cash movements**
Change in cash and cash equivalents from activities in the
year ended 31 December 2023
Cash and cash equivalents at 1 January 2023
Change in cash and cash equivalents due to exchange rate movements
**Cash at bank and in hand less overdrafts at 31 December**|**2023**
**£**
307,445
(6,881)
**-**
**300,564**
300,564
372,624
-
**673,188**|**2022**
**£**
159,773
(1,149)
**-**|
|---|---|---|
|||**158,624**
158,624
214,000
-
**372,624**|
18
## **GAIN - Girls are Investors**
## **Cash Flow Statement for the year ended 31 December 2023 GAIN - Girls are Investors**
## **Cash Flow Statement for the year ended 31 December 2023 - Continued**
## **Reconciliation of net income to net cash flow from operating activities**
|Net income as shown in the Statement of Financial Activities
**Adjustments for:**
Depreciation charges
Write downs of investments
Net unrealised losses on investment assets
Decrease in debtors
Increase in creditors, excluding loans
**Net cash provided by operating activities**
**Analysis of cash and cash equivalents**
Cash in hand at for the year ended 31 December 2023
Notice deposits - (less than 3 months)
**Total cash and cash equivalents**|309,011
2,677
-
-
(7,500)
3,257
**A**
**307,445**
**2023**
**£**
673,188
-
**673,188**|159,390
383
-
-
-
-|
|---|---|---|
|||**159,773**|
|||**2022**
**£**
372,624
-|
|||**372,624**|
19
## **GAIN - Girls are Investors**
## **Cash Flow Statement for the year ended 31 December 2023 GAIN - Girls are Investors**
## **Cash Flow Statement for the year ended 31 December 2023 - Continued**
|**Analysis of change in net debt**
Cash
**Total**|**_At start_**
**_of year_**
372,624
372,624|**_Cash_**
**_Flows_**
300,564
300,562|**_At end_**
**_of year_**
673,188|
|---|---|---|---|
||||673,188|
20
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023**
## **1 Accounting policies**
## **Policies relating to the production of the accounts.**
## **Basis of preparation and accounting convention.**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP’ (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW), and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## **Going Concern.**
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 December 2024, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern.
## **Risks and future assumptions.**
The charity is a public benefit entity.
The trustees have a duty to identify and review the risks to which the charity is exposed and ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees examine the major strategy, business and operational risk, which their charity faces regularly and believe that they are maintaining sufficient reserves, combined with an annual review of the controls over financial systems, will provide sufficient resources in the event of adverse conditions.
## **Policies relating to categories of income and income recognition.**
## **Income recognition.**
Income, whether from exchange or non-exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
21
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023**
## **Accounting for deferred income and income received in advance.**
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned, and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.
## **Policies relating to expenditure on goods and services provided to the charity.**
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
## **Allocating costs to activities.**
Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.
The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is:
**Staffing** - on the basis of time spent in connection with any particular activity. **Staffing** - on a per capita basis, based on the number of people employed within any particular activity. **Premises related costs** - on the proportion of floor area occupied by a particular activity.
**Nonspecific support costs** - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures.
**Estimation techniques** used in apportioning costs – based on turnover by activity.
## **Volunteers**
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 6.
22
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023 Policies relating to assets, liabilities and provisions and other matters.**
## **Tangible fixed assets.**
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Plant and machinery
33.33% straight line
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Financial instruments including cash and bank balances.**
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
## **Pensions - defined contribution schemes.**
The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
## **Pensions - defined benefit schemes.**
The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
## **Fund Accounting.**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no endowment funds.
## **2 Liability to taxation.**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. The charity is registered for VAT and is partially exempt.
## **3 Winding up or dissolution of the charity.**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **4 Significance of financial instruments to the charity's position.**
There are no significant implications of financial instruments to the charity's position.
23
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023**
## **5 Net surplus before tax in the financial year.**
|**5 Net surplus before tax in the financial year.**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|The net surplus before tax in the financial year is stated after charging:|||
|Depreciation of owned fixed assets|2,677|383|
|Pension costs|5,571|6,523|
## **6 The contribution of volunteers.**
Volunteers continue to be a key component of GAIN's work. At the end of 2023, GAIN had 1800+ volunteers registered & receiving the volunteer newsletter. Volunteers from the investment management industry contribute by speaking at online and in-person events, as guests on the GAIN podcast, mentoring students and providing additional content for the GAIN website.
## **7 Staff costs and emoluments.**
|**Salary costs**|**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Gross Salaries excluding trustees and key management personnel|225,746|228,042|
|Employer's National Insurance for all staff|18,380|-|
|Employer's operating costs of defined|||
|contribution pension schemes|5,571|6,523|
|**Total salaries, wages and related costs**|**249,697**|**234,565**|
|The average number of part time staff employed in the year was|3|2|
|The average number of full-time staff employed in the year was|5|4|
|The estimated full time equivalent number of all staff employed in the year was|7|5|
|**The estimated equivalent number of full-time staff deployed in different activities in the year**||**was:**|
|Engaged on charitable activities|4|3|
|Engaged on publicity activities|1|-|
|Engaged on fundraising activities|1|1|
|Engaged on management and administration|1|1|
||||
|**The estimated full time equivalent number of all staff employed as above**|7|5|
24
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023**
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
## **Highest Paid Employee**
|The remuneration in the year was
Pension contributions paid by the employer
Compensation/Termination payments
**Total remuneration package**
**included in total salaries above**|46,093
44,751
1,196
1,022
1,850
1,000|
|---|---|
||**49,139**
**46,773**|
## **8 Remuneration and payments to Trustees and persons connected with them.**
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
## **9 Tangible fixed assets.**
|**Current Year**
**Cost**
At 1 January 2023
Additions
**At 31 December 2023**
**Depreciation**
At 1 January 2023
Charge for the year
**At 31 December 2023**
**Net book value**
**At 31 December 2023**
**At 31 December 2022**|**Land and**
**Buildings**
**Plant &**
**Machinery**
**Motor**
**Vehicles**
**Total**
**Total**
£
£
£
£
£
-
1,149
-
1,149
1,149
-
6,881
-
6,881
6,881|
|---|---|
||**-**
**8,031**
**-**
**8,031**
**8,031**|
||-
383
-
383
383
-
2,677
-
2,677
2,677|
||**-**
**3,060**
**-**
**3,060**
**3,060**|
||**-**
**4,971**
**-**
**4,971**
**4,971**|
|||
||**-**
**766**
**-**
**766**
**766**|
## **10 Debtors.**
Trade debtors
|**2023**|**2022**|
|---|---|
|**£**|**£**|
|7,500|-|
|**7,500**|**-**|
25
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023**
|**11 Creditors: amounts falling due within one year.**
Accruals
PAYE, NIC VAT and other taxes
Other creditors
**12 Income and Expenditure account summary.**
**At 1 January 2023**
Surplus after tax for the year
**At 31 December 2023**|**2023**
**2022**
**£**
**£**
2,000
-
55
-
1,200
-|
|---|---|
||**3,255**
**-**|
||**2023**
**£**
**2022**
**£**
373,390
214,000
309,012
159,390|
||**682,402**
**373,390**|
## **13 Particulars of how particular funds are represented by assets and liabilities.**
|**At 31 December 2023**|**Unrestricted**|**Designated**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
||**Funds**|**funds**|**Funds**|**Funds**|**Funds**|
||**£**|**£**|**£**|**£**|**£**|
|Tangible Fixed Assets|4,971|-|-|**4,971**|**4,971**|
|Current Assets|680,688||-|**680,688**|**680,688**|
|Current Liabilities|(3,257)|-|-|**(3,257)**|**(3,257)**|
||**682,402**|**-**|**-**|**682,402**|**682,402**|
|**At 1 January 2023**|**Unrestricted**|**Designated**|**Restricted**|**Total**|**Total**|
||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
||**£**|**£**|**£**|**£**|**£**|
|Tangible Fixed Assets|767|-|-|**767**|**767**|
|Current Assets|372,625|-|-|**372,625**|**372,625**|
||**373,392**|**-**|**-**|**373,392**|**373,392**|
|**Change in total funds over the year as shown in Note 13, analysed by individual funds.**||||||
||**Funds**|**Movement in**|**Transfers**|**Funds**|**Funds carried**|
||**brought**|**funds in 2023**|**between**|**carried**|**forward to**|
||**forward from**||**funds in 2023**|**forward to**|**2024**|
||**2022**|||**2024**||
|||**See Note 15**|**See Note 0**|||
||**£**|**£**|**£**|**£**|**£**|
|**_Unrestricted and designated funds:_**||||||
|Unrestricted Revenue Funds|373,391|309,012|**-**|**682,403**|**682,403**|
|**Total unrestricted and designated funds**|**373,391**|**309,012**|**-**|**682,403**|**682,403**|
|||||||
|**Total charity funds**|**373,391**|**309,012**|**-**|**682,403**|**682,403**|
## **14 Change in total funds over the year as shown in Note 13, analysed by individual funds.**
26
## **GAIN - Girls are Investors**
## **Notes to the Accounts for the year ended 31 December 2023**
## **15 Analysis of movements in funds over the year as shown in Note 14.**
|**Unrestricted and designated funds:**
Unrestricted Revenue Funds|**Other**
**Income**
**Expenditure**
**Gains &**
**Losses**
**Movement**
**in funds**
**Movement**
**in funds**
**2023**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
739,510
(430,498)
-
**309,012**
**309,012**|
|---|---|
||**739,510**
**(430,498)**
**-**
**309,012**
**309,012**|
27
## **GAIN - Girls are Investors**
**Detailed analysis of income and expenditure for the year ended 31 December 2023 as required by the SORP 2015**
## **This analysis is classified by conventional nominal descriptions and not by activity.**
## **16 Support costs for charitable activities**
|**Current year**
**Current year**
**Current year**
**Unrestricted**
**Restricted**
**Total Funds**
**Current Year**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**Employee costs not included in direct costs**
Salaries - Administrative staff
225,746
-
**225,746**
Employers' NI - Administrative staff
18,380
-
**18,380**
Defined contribution pension costs -
Other salaries
5,571
-
**5,571**
Training and welfare - staff
1,075
-
**1,075**
**Administrative overheads**
General Expenses (including Subscriptions)
990
-
**990**
Software licenses and expenses
9,148
-
**9,148**
Advertising and marketing
3,220
-
**3,220**
Sundry expenses
163
-
**163**
Programme costs
27,313
-
**27,313**
Eventscosts
5,289
-
**5,289**
Insurance
1,075
-
**1,075**
Travel and subsistence
4,524
-
**4,524**
**Professional fees paid to advisors other than the auditor or examiner**
Accountancy fees other than
examination or audit fees
Legal fees
Consultancy fees
**Financial costs**
Depreciation & Amortisation in total for
the period
**Support costs before reallocation**
**Total support costs - Current Year**
The basis of allocation of costs between activities is described under accounting policies
4,440
-
**4,440**
850
-
**850**
120,037
-
**120,037**
2,677
-
**2,677**
**430,498**
**-**
**430,498**
**430,498**
**-**
**430,498**|**Current year**
**Current year**
**Current year**
**Unrestricted**
**Restricted**
**Total Funds**
**Current Year**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**Employee costs not included in direct costs**
Salaries - Administrative staff
225,746
-
**225,746**
Employers' NI - Administrative staff
18,380
-
**18,380**
Defined contribution pension costs -
Other salaries
5,571
-
**5,571**
Training and welfare - staff
1,075
-
**1,075**
**Administrative overheads**
General Expenses (including Subscriptions)
990
-
**990**
Software licenses and expenses
9,148
-
**9,148**
Advertising and marketing
3,220
-
**3,220**
Sundry expenses
163
-
**163**
Programme costs
27,313
-
**27,313**
Eventscosts
5,289
-
**5,289**
Insurance
1,075
-
**1,075**
Travel and subsistence
4,524
-
**4,524**
**Professional fees paid to advisors other than the auditor or examiner**
Accountancy fees other than
examination or audit fees
Legal fees
Consultancy fees
**Financial costs**
Depreciation & Amortisation in total for
the period
**Support costs before reallocation**
**Total support costs - Current Year**
The basis of allocation of costs between activities is described under accounting policies
4,440
-
**4,440**
850
-
**850**
120,037
-
**120,037**
2,677
-
**2,677**
**430,498**
**-**
**430,498**
**430,498**
**-**
**430,498**|**Current year**
**Total Funds**
**2023**
**£**
**225,746**
**18,380**
**5,571**
**1,075**
**990**
**9,148**
**3,220**
**163**
**27,313**
**5,289**
**1,075**
**4,524**
**4,440**
**850**
**120,037**
**2,677**|**Prior Year**
**Total Funds**
**2022**
**£**
**228,042**
**-**
**6,523**
**409**
**1,439**
**2,539**
**5,742**
**37**
**21,905**
**1,271**
**157**
**3,834**
**-**
**3,515**
**-**
**383**|
|---|---|---|---|
||**430,498**
**-**||**275,796**|
||**430,498**
**-**||**275,796**|
||||**-**
**-**
**-**|
All the expenditure in the prior year was unrestricted.
## **Administrative overheads**
The basis of allocation of costs between activities is described under accounting policies.
28
## **GAIN - Girls are Investors**
**Detailed analysis of income and expenditure for the year ended 31 December 2023 as required by the SORP 2015**
## **17 Total Charitable expenditure.**
|**Total Charitable expenditure.**||||
|---|---|---|---|
|**Current Year**
Total support costs
**B2d**
**Total charitable expenditure**
**B2**
All the expenditure in the prior year was unrestricted.
**Prior Year**
Total support costs
**B2d**
**Total charitable expenditure**
**B2**|**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2023**
**2023**
**£**
**£**
430,498
-|**Current year**
**Total Funds**
**2023**
**£**
**430,498**
**430,498**
**Prior Year**
**Total Funds**
**2022**
**£**
**275,796**|**Prior Year**
**Total Funds**
**2022**
**£**
**275,796**|
||**430,498**
**-**||**275,796**|
||**Prior Year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2022**
**2022**
**£**
**£**
275,796
-|||
||**275,796**
**-**|**275,796**||
29
## **GAIN - Girls are Investors**
## **Activity analysis of Income and expenditure for the for the year ended 31 December 2023**
## **This analysis is classified by activity and not by conventional nominal descriptions.**
## **18 Analysis of income by activity**
|**Analysis of income by activity**||||
|---|---|---|---|
||**SOFA ref**|**2023**|**2022**|
|||**£**|**£**|
|**Activity**||||
|**Summary of Total Income, including**|**the items above**|||
|Donations & Legacies|**A1**|739,510|435,186|
|**Categories of income**||||
|Income from exchange transactions||739,510|435,186|
|**Total Events & online resources**
**-**
**19 Analysis of charitable expenditure by activity**
**Activity**
**Direct**
**costs**
**2023**
**£**
**Programmes**
Employee costs not included in direct costs
-
Administrative overheads
-
Professional fees
-
Financial costs
-
**Total Programmes**
**-**
**Direct**
**costs**
**2023**
**£**
**_Events & online resources_**
Employee costs not included in direct
costs
-
Administrative overheads
-
Professional fees
-
Fi
i l
t|**172,200**
**Support**
**costs**
**2023**
**£**
150,463
31,032
75,197
1,606
**258,298**
**Support**
**costs**
**2023**
**£**
100,309
20,689
50,131
1 071|**-**
**Grant**
**funding of**
**activities**
**2023**
**£**
-
-
-
-
**-**
**Grant**
**funding of**
**activities**
**2023**
**£**
-
-
-|**172,200**
**Total**
**2023**
**£**
**150,463**
**31,032**
**75,197**
**1,606**
**258,298**
**Total**
**2023**
**£**
**100,309**
**20,689**
**50,131**
**1 071**|**Total**
**2022**
**£**
141,007
22,132
2,109
230|
|---|---|---|---|---|
|||||**165,478**|
|||||**Total**
**2022**
**£**
94,004
14,755
1,406
153|
|||||**110,318**|
30
## **GAIN - Girls are Investors**
## **Activity analysis of Income and expenditure for the for the year ended 31 December 2023**
## **Summary of charitable costs by activity**
|Total Programmes
Total Events & online resources
**Total charitable expenditure**|**Direct**
**costs**
**2023**
**£**
-
-
**-**|**Support**
**costs**
**2023**
**£**
258,298
172,200
**430,498**|**Grant**
**funding of**
**activities**
**2023**
**£**
-
-
**-**|**Total**
**2023**
**£**
258,298
172,200
**430,498**|**Total**
**2022**
**£**
165,478
110,318|
|---|---|---|---|---|---|
||||||**275,796**|
The basis of allocation of costs between activities is described under accounting policies.
The breakdown of this expenditure by type of spending (i.e nominal classification) is detailed in note 17.
31