## **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: - 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. **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