OpenCharities

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2021-06-30-accounts

Trustees’ Annual Report for the period

From 1st July 2020 to 30[th] June 2021

Charity name: Open Palm

Charity registration number: 1190203

Objectives and Activities

Objectives and Activities
SORP reference
Summary of the purposes of the
charity as set out in its governing
document		 Para 1.17 Open Palm’s purposes are to advance education and promote racial
equality by delivering educational life-skills programmes, improving
learning environments and addressing racial inequality.
Summary of the main activities in
relation to those purposes for the
public benefit, in particular, the
activities, projects or services
identified in the accounts.		 Para 1.17 and 1.19 Open Palm furthers its purposes through three key initiatives:
Advancing education
(I) Making education more accessible to students, by delivering tech
and academic resources to under-funded schools. This improves
students’ access to learning resources, helps them to better engage
with lessons and homework, and improves attainment. This is
delivered through Open Palm’s ‘Project Spark’.
Promoting racial equality
(ii) Addressing disparities in income and employment for Black,
Mixed Heritage and Ethnic Minorities, by delivering free life-skills
courses. These courses equip under-represented and disadvantaged
young people for skills for success, thereby improving prospects. This
is delivered through Open Palm’s WYZ® courses and related
workshops.
(iii) Promoting knowledge of different racial groups, in order improve
race relations and eliminate racial discrimination. Amplifying voices,
tackling negative stereotypes and normalising achievement within
Black, Mixed Heritage and Ethnic Minority communities through
awareness initiatives. These include sharing career insights and
interviews with changemakers in addition to celebrating everyday
people in these communities. These activities help to raise
aspirations of ethnically under-represented youths. This is delivered
through Open Palm’s ‘Project Enlighten’.
Statement confirming whether the
trustees have had regard to the
guidance issued by the Charity
Commission on public benefit		 Para 1.18 Open Palm’s Trustees have had due regard to the guidance issued by
the Charity Commission on public benefit. The spirit of this guidance
is embedded within Open Palm’s purpose and values and drives
decision-making when considering and delivering initiatives.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference
Policy on grant making Para 1.38 To date, no financial or monetary grants have been made to schools
or individuals.
Donations are currently made in the form of technological donations
to under-funded schools.
Grants are considered based on free school meal eligibility of
students. Open Palm is focusing its efforts on supporting schools
located in boroughs with disproportionately high free-school meal
eligibility compared with the general population (25% and above).
The current focus is therefore on supporting schools in the London
boroughs of Camden, Hackney, Islington and/or Tower Hamlets.
Policy on social investment
including program related
investment		 Para 1.38 Not applicable.
Open Palm has not made social investments; whilst Open Palm
applies its funds to further its purposes, it does not aim to make a
financial return.
Further, Open Palm does not make program related investments
(such as granting loans, investing in complex high profile or
regeneration projects or pooled funds).
Contribution made by volunteers Para 1.38 Regular direct debits are made by Open Palm’s Trustees. The charity
has also received the benefit of one-off donations from volunteers,
such as through donating Virgin Red points or supporting on their
day-to-day shop via Amazon Smile.
Open Palm has relied on the dedication and skill of all Trustees and
volunteers who support the charity’s initiatives. Trustees and
volunteers have helped Open Palm to deliver and execute on
numerous key activities, including creating and delivering WYZ
courses, delivering youth workshops, supporting fundraising events,
and delivering online events such as Open Palm’s one-year
anniversarycelebration and educational interview segments.
Other N/A

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to the
circumstances of its beneficiaries
and any wider benefits to society
as a whole.		 Para 1.20 Since beginning operations on 1 July 2020, Open Palm has reached
over 500 young people through free WYZlife-skills programmes
and related workshops and through facilitating donations of
technology to under-funded schools.
Young people we have supported, and their parents, have provided
feedback that the WYZcourses have helped to improve confidence
and understanding in the topics taught (personal finance and
employability). Some young people have made tangible decisions as
a result of the course, such as switching to a higher interest rate bank
account or consciously beginning to save some money each month.
Young people are taught to budget and many have reported
incorporating budgets into their daily lives since completing the
WYZMoney course.
WYZFor Work, Open Palm’s employability course, launched in May
2021 and offers work experience opportunities to those who have
completed the full course. The course has welcomed over 200 young
people in the first 5 months of launch, with three secondary schools
also enrollingclasses. The feedback has been very positive,with the

vast majority of participants scoring 4 or 5 star ratings, out of 5, after each session. The first work experience opportunities launched in October 2021, which allow participants the opportunity to practise skills learnt on the course and apply it in a workplace setting.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against objectives
set		 Para 1.41 Supporting over 500 young people in the first operating year, which
exceeded the objective of reaching 100 young people on a WYZ
course by October 2021.
Volunteer support has also exceeded expectations, with core
volunteers in place to support WYZcourses and related outreach,
Fundraising activities, Volunteer Co-ordination, Marketing and Risk &
Governance.
Performance of fundraising
activities against objectives set		 Para 1.41 Fundraising activity has exceeded objective of £10K more than two-
fold
Investment performance against
objectives		 Para 1.41 N/A
Other

Financial Review

Financial Review
Review of the charity’s financial
position at the end of the period		 Para 1.21 Financial donations for the year have far exceeded expectations
largely due to Open Palm becoming Charity of the Year for a leading
Wealth Management firm Charles Stanley.
Donations for the year totalled £26,116 of which:
•
Virgin Money Giving – £16,016
•
Charities Aid Foundation - £1,084
•
Direct Giving - £8,367
•
Other - £649
Expenses totalled £3,188 of which the largest element related to the
accreditation costs of our life-skill programmes and our online
platform costs. We have no paid staff working for the charity.
As such, we finished the year with a surplus of £22,928 which leaves
us in a strong position to support our beneficiaries in 2021/22.
Statement explaining the policy
for holding reserves stating why
theyare held		 Para 1.22 A reserve policy is yet to be developed and signed off by Trustees.
This will be addressed during the next financial year.
Amount of reserves held Para 1.22 Nil.
However, given the surplus amount, there are sufficient unrestricted
funds that are freely available to spend on any of Open Palm’s
charitablepurposes for theyear 2021/22.
Reasons for holding zero reserves Para 1.22 A reserve policy is yet to be developed and signed off by Trustees.
This will be addressed during the next financial year.
As of October 2021, a reserve bank account has been opened to
adequately segregate reserve cash.
Details of fund materiallyin deficit Para 1.24 N/a
Explanation of any uncertainties
about the charity continuing as a
goingconcern		 Para 1.23 There are no matters of material significance to report or any known
uncertainties about the charity’s ability to continue as a going
concern.

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document
(trust deed,royal charter)		 Para 1.25 Foundation Model Constitution
How is the charity constituted?
(e.g unincorporated association,
CIO)		 Para 1.25 Charitable Incorporated Organisation (CIO)
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of any
person or body entitled to appoint
one or more trustees		 Para 1.25 Trustees are selected based on a range of considerations, including
their skillset, experience, interest and commitment. Appointments to
the Board are approved by unanimous decision of existing Trustees.
Existing Trustees complete an annual skills audit, which is a self-
assessment of their existing skillset and any skills gaps. This
document is considered by the Trustee Board and gaps are plugged
through recruitment (e.g. recruitment of a Trustee or other
volunteer(s)).

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted
for the induction and training of
trustees		 Para 1.51
The charity’s organisational
structure and any wider network
with which the charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51
Other

Reference and Administrative details

Charityname Open Palm
Other name the charityuses
Registered charitynumber 1190203
Charity’s principal address 86-90 Paul Street
London
EC2A 4NE

Names of the charity trustees who manage the charity

1
2
3
4
5
6		 Trustee name Office (if any) Dates acted if
not for whole
year		 Name of person (or body) entitled to appoint trustee (if any)
Lynette Emesibe Trustee &
Fundraising Lead		 25 April 2021
to present		 Sophie McBaiden, Ralph McBaiden
Sophie
McBaiden		 Trustee & Chair 01 July 2020 to
present		 Ralph McBaiden
Ralph McBaiden Trustee & Treasurer 01 July 2020 to
present		 Sophie McBaiden

Corporate trustees – names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for wholeyear
N/A

Funds held as custodian trustees on behalf of others

Description of the assets held in
this capacity		 N/A
Name and objects of the charity on
whose behalf the assets are held
and how this falls within the
custodian charity’s objects		 N/A
Details of arrangements for safe
custody and segregation of such
assets from the charity’s own
assets		 N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of adviser Name
Address		 Name
Address
Independent
Advisor –
Governance & Risk		 Raz Hussain 86-90 Paul Street, London, EC2A 4NE
Advisory Group
member		 Rory Brelsford-
Stewart		 86-90 Paul Street, London, EC2A 4NE
Advisory Group
member		 Anthony Oshodi 86-90 Paul Street, London, EC2A 4NE
Advisory Group
member		 Lorna Strong 86-90 Paul Street, London, EC2A 4NE
Advisory Group
member		 Sheila Ratnasingham 86-90 Paul Street, London, EC2A 4NE
Advisory Group
member		 Daniela Rada 86-90 Paul Street, London, EC2A 4NE

Name of chief executive or names of senior staff members (Optional information)

No staff members applicable – all individuals are volunteers

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

None

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary, Chair,
etc)
Date

RALPH MCBAIDEN


Trustee

01/11/2021

01/11/2021

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of Open Palm

On accounts for the year
ended
Set out on pages		 30 June 2021 Charity no
(if any)		 1190203
(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 June 2021.

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis 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 I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Date: 01/11/2021 Signed: Name: Amanda Hall Relevant professional qualification(s) or body (if any): Address: Unit 115 Ducie House, Ducie Street Manchester, M1 2JW

Oct 2018

1

IER

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 .

Oct 2018

2

IER

Charity Name: Open Palm Charity Name: Open Palm Charity Name: Open Palm Charity Name: Open Palm Charity Name: Open Palm No: 1190203 No: 1190203 No: 1190203 CC16a
For the period
from		 1st July 2020 To 30th June 2021
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £		 Restricted funds
to the nearest £		 Endowment
funds
to the nearest £		 Total funds
to the nearest £		 Last year
to the nearest £

Donations		 26,116 - - 26,116 -
Gifts-in-kind 949 - - 949 -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total(Gross income for AR) 27,065 - - 27,065 -
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
-

Charitable activities		 1,420 - - 1,420 -
Support costs 1,768 - - 1,768 -
Gifts-in-kind 949 - - 949 -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
**Sub total ** 4,137 - - 4,137 -
A4 Asset and investment
purchases, (see table)
-
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
-
22,928 -
- -
- -
22,928 -

CCXX R1 accounts (SS)

01/11/2021

1

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B5 Liabilities
B3 Investment assets		 Signature
Details
Bank balance
Details
Total cash funds
(agree balances with receipts and payments account(s))
Details
Details
Details		 Unrestricted
funds
to nearest £		 Unrestricted
funds
to nearest £		 Restricted funds
to nearest £		 Restricted funds
to nearest £		 Endowment
funds
to nearest £
22,928 - -
- - -
- - -
22,928 - -
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of approval
RALPH MCBAIDEN 01/11/2021

CCXX R2 accounts (SS)

01/11/2021

2