## **Independent examiner's report on the accounts**
## **Section A Independent Examiner’s Report**
**Report to the trustees/** Charity Name **members of** London (UK) Chapter of the Links, Incorporated. **On accounts for the year** 30[th] April, 2022 **Charity no** 1185612 **ended (if any) Set out on pages** 7,8,9,10, 11 & 12 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30[th] April, 2022. **Responsibilities and basis** As the charity's trustees, you are responsible for the preparation of the **of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and 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. **Independent examiner's** [The charity’s gross income exceeded £250,000 and I am qualified to **statement** undertake the examination by being a qualified member of [insert name of applicable listed body]]. _Delete_ [ ] _if not applicable._ I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: • the accounting records were not kept in accordance with section 130 of the Charities Act; or • the accounts did not accord with the accounting records; or • the accounts did 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.
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.
* _Please delete the words in the brackets if they do not apply._
**Signed: Date:** 28[th] February, 2023 **Name:** Yusufu Tockan FCCA
1
**Oct 2018**
**IER**
## **Relevant professional** Chartered Certified Accountant **qualification(s) or body (if any):**
**Address:** Tockan & Co., Chartered Certified Accountants 289 Brettenham Road, Edmonton LONDON N18 2HF.
## **Section B Disclosure**
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
2
**Oct 2018**
**IER**
## **LONDON (UK) CHAPTER OF THE LINKS INCORPORATED , A company limited by guarantee**
**Trustee Report and Financial Statements** For the Year Ended 30 April 2022
Charity Number: 1185612 Company Number: 11928227
## **LONDON (UK) CHAPTER OF THE LINKS, INCORPORATED**
(A company limited by guarantee)
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**
## **TABLE OF CONTENTS**
|**REFERENCE AND ADMINISTRATIVE DETAILS**|**2**|
|---|---|
|**STRUCTURE, GOVERNANCE**|**3**|
|**AND MANAGEMENT**|**3**|
|**OBJECTIVES AND ACTIVITIES**|**4**|
|**FINANCIAL REVIEW**|**6**|
|**STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 30 APRIL 2022**|**8**|
|**BALANCE SHEET AS AT 30 APRIL 2022**|**9**|
|**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**|**10**|
|**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**|**11**|
|**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**|**12**|
1
## **REFERENCE AND ADMINISTRATIVE DETAILS**
The Officers present the trustee’s report and reviewed financial statements for the year ended 30 April 2022.
Charity Name: London (UK) Chapter of The Links, Incorporated Charity registration number: 1185612 Company registration number: 11928227 Registered Office: 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ **DIRECTORS** Ms D Burwell Chair Ms D Ayeko Treasurer Ms A Atsrefi Secretary Ms L James Ms D Mitchell Accountant Tockan & Co, 289 Brettenham Road, London, N18 2HF
2
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **GOVERNING DOCUMENT**
The London (UK) Chapter of The Links, Incorporated is a charitable company limited by guarantee, incorporated on 5 April 2019 and registered as a charity on 3 October 2019. 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. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
## **RECRUITMENT AND APPOINTMENT OF MANAGEMENT COMMITTEE**
Under the requirements of the Articles of Associations the directors are appointed through ordinary resolution by members of the charity.
All trustees give their time voluntarily and receive no benefits from the charity. All expenses reclaimed from the charity are set out in note 3a to the accounts.
## **Appointment procedure**
The directors and trustees of the Company by Limited Guarantee (the “Company”) and Registered Charity (“Charity”) of the London (UK) Chapter of The Links, Incorporated must be Active Members of the organisation, appointed simultaneously with the election of officers every two (2) years by general meeting. The directors and trustees shall be identical across the Company and the Charity. In accordance with Charity Commission for England and Wales (“Charity Commission”) guidance, the directors and trustees shall be those individuals occupying offices which execute duties that ensure the Company and Charity are compliant with regulations and fulfill the charitable objectives as filed with the Charity Commission and included in the Articles of Association filed with Companies House (as defined by the Charity Commission). The minimum number of directors and trustees at any given time is three.
## **TRUSTEE INDUCTION AND TRAINING**
All trustees are familiarised with the charitable objectives and activities of the Charity through a formal induction process upon joining the organisation. In addition, trustees receive a membership pack which contains the Articles of Association of the charity as well as required reading and guidance from the Charity Commission ‘The Essentials of the Charity Trustee: what you need to know, what you need to do’. All trustees are required to complete 48 service hours within the financial year.
As part of the roles and responsibilities of each of the trustees within the charity, they are provided training as they pertain to their executive duties and access to ongoing trustee education through NCVO.
## **ORGANISATIONAL STRUCTURE**
The London (UK) Chapter of The Links, Incorporated is run day to day by its Directors and Trustees with the support of volunteers serving in a variety of operational roles. The trustees are responsible for ensuring the Charity fulfils its objectives as outlined in the articles of association filed with the Charity Commission in 2019. The trustees review and approve all policies and programmes on at least an annual basis.
The Trustees, appointed by virtue of office serve in the operating capacities of
- § **President** (Chair of Trustees)
- § **Vice President** (Chair of Membership)
3
- § **Secretary** (General Administration)
- § **Treasurer** (Chair of Finance) and
- § **Parliamentarian** (Bylaws Chair).
The main operating roles and committees within the charity include:
- § **Programming:** In charge of developing and implementing charitable service programming
- § **Internal Audit:** Ensuring financial records are accurate and conform with requirements.
- § **Ethics and Standards:** Oversees ethical issues and compliance with guidelines
- § **Fund Development:** Oversees fundraising activities and contact with corporate sponsors
- § **Communications and Archives:** Oversees external communications and long-term records of charitable activities
## **RELATED PARTIES**
London (UK) Chapter of The Links, Incorporated is an affiliate of The Links, Incorporated, non-governmental organisation (NGO).
## **FUNDS HELD AS A CUSTODIAN TRUSTEE ON BEHALF OF OTHERS**
We do not act as custodian trustee or hold funds on behalf of others.
## **OBJECTIVES AND ACTIVITIES**
## **PURPOSES**
Our charity’s purposes as set out in the objects contained in the company’s articles of association are to:
**1.** To advance education and relieve unemployment, in particular but not exclusively amongst persons of African ancestry living in the UK in such ways as the trustees think fit including: providing mentoring, assisting with access to further education or the workplace, providing workshops, seminars, work placements, providing and assisting in the provision of arts and language study opportunities and the provision of grants and bursaries.
**2.** To promote good physical and mental health, in particular but not exclusively amongst persons of African ancestry living in the UK in such ways as the trustees think fit including through the provision of information, advice, access to sporting activities and other support including financial support.
**3.** The relief of those in need, by reason of youth, age, ill-health, disability or financial hardship in particular but not exclusively amongst persons of African ancestry living in the UK in such ways as the trustees think fit.
**4.** To advance such other charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time.
## **MAIN ACTIVITIES UNDERTAKEN TO FURTHER OUR PURPOSES**
The onslaught of the pandemic posed a need for the organisation to revamp its approach to programming and target population to ensure consistent access to populations in need of support and stability of our long-term service delivery. The London (UK) Chapter of The Links, Incorporated performed a community needs assessment.
4
The organisation reviewed the attainment and progression statistics for students of African descent at various universities in London to determine whether they performed more poorly than the average of the student population. This included assessment of the graduation rates, rankings or grades upon graduation and progression onto further education or full-time employment.
Figures published by the Higher Education Statistics Agency (HESA) show that 5% of black graduates were unemployed 15 months after leaving university, compared with just 3% of white graduates.
According to analysis from the Higher Education Statistics Agency (HESA), compared to white graduates, graduates in black and minority ethnic groups are eight percentage points less likely to be in full-time employment just over a year after leaving higher education. In April 2021, ONS data showed that 41.6% of black youth aged 16-24 were unemployed, the highest level since 2008. This compared to 12.4% for white people of the same age.
Statistics also show that UK-domiciled male graduates (4%) are more likely to be unemployed than female graduates (3%) – and yet male graduates are more likely to be paid more than their female peers.
It is anticipated that achievement gaps will be exacerbated by the pandemic. Students of colour have lost an average of one to five months of learning versus one month for white students according to a study by McKinsey.
In response to these disparities, the charity has fostered a partnership with the African and Caribbean Society (ACS) at Queen Mary University to address the needs of the Black student population. Through the relationship with the ACS which has over 200 members, the charity was able to directly target a population of Black students and assess their needs via a survey. We identified their top needs as being mentoring, facilitating an HBCU exchange programme, and budgeting/financial education. To address these needs, the charity assessed funding and structuring options for study abroad, created a local grant programme to support and encourage financial education, and participated in group mentoring and advice sessions. We anticipate sending our first students abroad during 2023.
We also continued to partner with Dress for Success Greater London. We hosted our second annual clothing drive in which we received over £10,000 worth of clothing, shoes, and accessory donations. These donations will be used to support over 50 vulnerable and disadvantaged women seeking to enter or return into the workforce.
In addition to the above we launched a financial literacy course for university students called “Our Money Matters”. The programme provides training around budgeting, credit management, and financial planning for university aged students. Ten participants signed up to the programme with the student completing the most courses receiving a grant of £250.
## **HOW OUR ACTIVITIES FURTHER OUR PURPOSES AND BENEFIT THE PUBLIC**
The above activities align with our purpose to provide education and relieve current or potential unemployment for women and students from disadvantaged communities. It is our aim to close the gap for these populations in attainment and progression post graduation, as well as support re-entry into the workforce for those already unemployed.
## **PLANS FOR FUTURE PERIODS**
Having developed relationships with our strategic partners over the programme year, the charity plans to continue engaging these partners to deliver our services to university students and recent graduates. We have extended and developed relationships with two universities, Queen Mary University of London and Spelman College in the United States. Our recently signed MoU launches our exchange programme which focuses on providing a young person with a unique educational opportunity and cultural experience. The London (UK) Chapter of The Links, Incorporated has earmarked funding to support this exchange programme. In addition to our exchange programme, the charity will work with the administration of Queen Mary University to deliver a series of workshops to coach students to expand their soft skills and prepare them for future employment.
5
We will also explore partnerships with other organisations to reach more university students. One partner we are building a relationship with is The Prosper Network who work with 18-21 year olds from underserved communities across the UK. The London (UK) Chapter of The Links, Incorporated aims to support the activities of The Prosper Network through grants for educational support and mentorship for personal and professional development.
## **FINANCIAL REVIEW**
Our work is reliant on donations from our members, the public, and corporate sponsors. During the period, we received donations of over £26,000.
## **PRINCIPAL FUNDING SOURCES**
Our principal funding source is donations from our members, in the form of membership dues. Membership dues are calibrated to cover our operational expenses. In addition we received a corporate donation from Finsbury Glover Hering (recently renamed FGS Global), the second year they have chosen to support us.
Throughout the year we have made use of the in person, hybrid, and online capabilities to continue to fundraise through the members of the public.
## **PERFORMANCE OF FUNDRAISING ACTIVITIES AGAINST OBJECTIVES SET**
As the restrictions on face-to-face events were lifted, we transitioned back to in person fundraising with a clothing drive. Additionally, the charity held an online fundraiser to celebrate Black art and music hosted by Ayo Adeyinka, the founder of TAFETA, entitled ‘For the Love of Art and Jazz’. The flexibility of choosing whether to fundraise online or in person was beneficial to our fundraising efforts.
The bulk of our individual donations were obtained through volunteer contributions. We are also extremely grateful to our corporate sponsor for the calendar year 2022, who contributed a donation of £15,000, which was received in December 2021.
## **RESERVES POLICY**
The charity’s trustees have considered the necessity of reserves for the charity. In light of the risks to the London (UK) Chapter of The Links, Incorporated, the trustees agreed that reserves must be kept to ensure we can continue to meet our charitable objectives during times of fluctuating income.
Since operating expenses are largely covered by membership dues, which are paid annually, the trustees based the reserve need on 12 months of operating expenditure in a scenario where there are fewer members. The trustees consider that the ideal level of reserves for our coverage period would be £4,500. This level will enable the charity to continue our activities in the event of a significant drop in funding. As we build resilience over time, an annual contingency of £500 will be set to bolster the reserves. In the event that the financial year ends in surplus, the funds carried forward will be transferred to the reserves for the following financial year.
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 as at the balance sheet and of incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the trustees should follow best practice and:
- § Select suitable account policies and then apply them consistently;
- § Make judgments and estimates that are reasonable and prudent; and
6
- § Prepare financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Management Committee is 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 trustees declare that they have approved the trustee’s report above. Signed on behalf of the charity’s trustees
**…………………………………………….. ……………………………………………..**
## **Dorothy Burwell Damilola Ayeko**
## **Chair**
## **Treasurer**
Date 28/02/2022
7
## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 30 APRIL 2022**
|**Notes**
**Incoming resources**
**Bank interest received**
_Voluntary income_
**2a**
**Total incoming resources**
**Resource expended**
_Organisation’s Operating Activities_
_Ordinary activities_
**3**
_Other resources expended_
**Total resources expended**
**Net incoming/(outgoing) resources**
_Movement of funds_
**Net movement in funds**
Total funds brought forward at 1 May 2021
**Total funds carried forward at 30 April 2022**
**5**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**TOTAL**
**FUNDS**
**2022**
**TOTAL**
**FUNDS**
**2021**
**£**
**£**
**£**
**£**
**-**
**-**
**-**
**-**
**26,797**
**-**
**26,797**
**27,344**|
|---|---|
||**26,797**
**-**
**26,797**
**27,344**|
||**26,680**
**-**
**26,680**
**27,157**
**384**
**-**
**384**
**370**|
||**27,064**
**-**
**27,064**
**27,527**|
||**(267)**
**-**
**(267)**
**(183)**|
||**(267)**
**-**
**(267)**
**(183)**|
||**947**
**-**
**947**
**1,130**
**680**
**-**
**680**
**947**|
8
## **BALANCE SHEET AS AT 30 APRIL 2022**
|**30 APRIL 2022**||||||
|---|---|---|---|---|---|
|||||||
||**Notes**||**2022**
**£**||**2021**
**£**|
|**Fixed assets**
Tangible assets
**Current assets**
Debtors
Cash at bank and in hand
**40,670**
**40,670**
Creditors: amounts falling due within one year
**(40,351)**
**Net current assets**
**Total assets less current liabilities**
**NET ASSETS**
**Funds**
**Restricted funds**
**Unrestricted funds**
**5**
Approved by the Board of Directors and signed on its behalf
**Ms Damilola Ayeko**
Director
The accompanying notes form part of these financial statements.||**40,670**|**361**
**319**
**680**|
|**724**
**23,825**|
||||||**23,825**
**(23,602)**|
||||||**223**|
||||||**947**
**947**|
||||**680**|||
||||**680**||**947**|
||||**680**||**947**|
|||||||
9
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**
## **1. Accounting policies**
## **a. Accounting convention**
The financial statements have been prepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which the organisation is responsible in law.
## **Funds accounting**
Funds held by the organisation are:
- _**b.** Unrestricted funds -_ general funds which can be used for the organisation’s ordinary purposes.
_Designated funds_ - The organisation did not have monies set aside for specific future purposes or projects.
_Restricted funds -_ The organisation did not receive any funds or grants to be expended on restricted projects.
## **c. Voluntary income**
_Collections are recognised when received._
_Planned giving receivable is recognised only when received. Income tax recoverable on Gift aid donations is recognised when the income is._
## **d. Resources used**
Resources expended are accounted for on a cash basis and accounted for as paid.
## **Grants**
Grants and donations are accounted for when paid, or when awarded, where the award creates a binding obligation for the organisation.
10
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**
## **2. Incoming resources**
|**a**_Voluntary income_
_Donations_
**Total incoming resources**
**3. Resources expended**
**a****_Organisation’s running expenses_**
Postage & stationery
Equipment repairs & maintenance
Subscriptions, licences & insurance
Conference, seminars & workshops
Sundry expenses
Community projects & sponsorships
Accountancy
**Other resources expended**
Bank charges
Depreciation
**Total resources expended**||**Unrestricted**
**Funds**
**Restricted**
**Funds**
**TOTAL**
**FUNDS**
**2022**
**TOTAL**
**FUNDS**
**2021**
**£**
**£**
**£**
**£**
26,797
-
26,797
27,344|
|---|---|---|
|||**26,797**
**-**
**26,797**
**27,344**|
|||**Unrestricted**
**Funds**
**Restricted**
**Funds**
**TOTAL**
**FUNDS**
**2022**
**TOTAL**
**FUNDS**
**2021**
**£**
**£**
**£**
**£**|
|||-
-
-
-|
|||-
-
-
-|
|||2,041
-
2,041
9,978|
|||16,500
-
16,500
1,279|
|||12
-
12
-|
|||7,227
-
7,227
15,250
900
-
900
650|
|||**26,680**
**-**
**26,680**
**27,157**|
|||-
-
-
-|
|||21
-
21
7|
|||363
-
363
363|
|||**384**
**-**
**384**
**370**|
|||**-**
**-**|
|||**27,064**
**-**
**27,064**
**27,527**|
11
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022**
## **4. Analysis of net assets by fund**
|Total assets
Current liabilities
Long term liabilities|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**2022**
**Total**
**Funds**
**2021**
**£**
**£**
**£**
**£**|
|---|---|
||41,031
-
41,031
5,581|
||(40,351)
-
(40,351)
(4,451)|
||**-**
**-**
**-**
**-**|
||**680**
**-**
**680**
**1,130**|
## **5. Statement of funds**
|**Unrestricted Funds**
Bank interest received
Donations & grants received
**Restricted Funds**
**Total funds**|**Bal b/fwd**
**Income**
**Transfers,**
**other gains**
**and losses**
**Bal c/fwd**
**01-May-21**
**£**
**30-Apr-22**
**£**
**£**
**£**|
|---|---|
||**-**
**-**
**-**
**-**|
||947
26,797
(27,064)
680|
||**947**
**26,797**
**(27,064)**
**680**
-|
||-
-
-
-|
||-
-
-
-|
||-|
||**947**
**26,797**
**(27,064)**
**680**|
12