Registered number: 12703942 Charity number: 1192877
INNER WINGS
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
INNER WINGS
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 17 |
INNER WINGS
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024
Trustees Melissa Di Donato Roos Darren Roos Claudia Angela Beatriz Campos Hogan Edit Kovacs Ilaria Magagnoli Company registered number 12703942 Charity registered number 1192877 Registered office Aston House Cornwall Avenue London N3 1LF Accountants Adler Shine LLP Chartered Accountants Aston House Cornwall Avenue London N3 1LF
Page 1
INNER WINGS
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2024
The trustees present their annual report together with the financial statements of the charity for the year 1 July 2023 to 30 June 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
Inner Wings is a charitable foundation that strives to build confidence and resilience in young children across the UK, especially those who need it most. Our mission is to address the diverse issues affecting children between the ages of 6 to 12, by helping them to build confidence in their abilities and the skills to articulate these.
Our free school programmes and resources work to give children a confidence toolkit that nurtures positive selfworth and acceptance. Being confident doesn’t necessarily mean being outspoken; confidence comes from knowing and valuing one’s strengths, developing interests and having strong communication skills. This has been more critical than ever, with children's mental health issues increasing significantly since the COVID-19 pandemic and cost-of-living crisis, and exacerbated by smartphone and social media use.
The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
Inner Wings’ strategy for achieving its objectives is to offer free confidence-building programmes to primary schools across the UK. With a focus on mental health and wellbeing, our programmes fit very well within social and emotional wellbeing curricula. The programmes give young children the skills and tools to develop a growth mindset, realise their unique potential and improve their public speaking skills.
Page 2
INNER WINGS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Objectives and activities (continued)
c. Activities undertaken to achieve objectives
Inner Wings works with primary schools across the UK to ensure each young person is able to become the best version of themselves. Our free, bespoke confidence-building programmes are:
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Engaging by combining active learning with fun pursuits, in teacher-friendly handbooks and in line with PSHE frameworks
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Inclusive and accessible to disadvantaged communities and children with special educational needs
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Evidence-based and ambitious with programme content developed and cross-validated by a team with expertise in education, coaching and psychology
Through our two school programmes – Finding Your Superpower and Finding Your Voice – Inner Wings:
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Makes a meaningful impact on children’s mental health, confidence, resilience and self-esteem
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Provides engaging activities that encourage children to explore areas of strength, developing genuine interests and bringing out their best selves
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Empowers children – by tailoring a leading spoken communications approach – to express themselves and their unique thoughts in public
d. Main activities undertaken to further the charity's purposes for the public benefit
Inner Wings’ two confidence-building programmes, Finding Your Superpower and Finding Your Voice, are being delivered in primary schools across the UK, with an increasing number of schools participating throughout the academic year. Inner Wings has also delivered a series of events and webinars to raise awareness of the confidence crisis the foundation is tackling, and more specifically, confidence issues in girls and how that contributes to gender inequality in many industries.
Achievements and performance
a. Main achievements of the charity
Since September 2021, when Inner Wings launched its first confidence-building programme, the charity has worked with 170 partner schools from across the UK (of which 95 percent are state funded) and trained over 750 teachers to deliver its programmes. In just three academic years, more than 20,000 primary-aged children have ‘graduated’ from Inner Wings’ two programmes, Finding Your Superpower and Finding Your Voice. Moreover, three-quarters of teachers noticed a general positive change in their students and 80 percent of participating children said they felt more confident after completing our programmes.
Page 3
INNER WINGS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Financial review
a. Expenditure and income
The net income for the period amounted to £299,894, a decrease from the £455,615 received in 2023. The decrease is mainly due to the successful event held in July 2022 during which £239,681 was raised, as no event was held in the the year ended 30 June 2024.
Total expenditure amounted to £180,505, decreasing from £450,234 in 2023. The majority of this decrease in expenditure was as no fundraising event was undertaken in the year. Otherwise expenditure was largely consistent with the prior year.
b. Going concern
The Trustees continue to adopt the going concern basis in preparing the financial statements for the year ended 30 June 2024. Further details regarding adoption of the going concern basis can be found in note 2.2 to the financial statements.
Structure, governance and management
a. Constitution
Inner Wings is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of trustees
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Financial risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.
Page 4
INNER WINGS
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Statement of trustees' responsibilities
The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial . Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
................................................ Melissa Di Donato Roos Trustee
Date: 12/09/2024
Page 5
(A company limited by guarantee)
INNER WINGS
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024
Independent examiner's report to the trustees of Inner Wings ('the charity')
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2024.
Responsibilities and basis of report
As the trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed: Dated: 18 September 2024
Alexander Chrysaphiades FCA (Senior Statutory Auditor)
Adler Shine LLP
Chartered Accountants Aston House Cornwall Avenue London N3 1LF
Page 6
INNER WINGS
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 292,336 6 6,500 1,052 299,894 182,659 182,659 117,235 138,908 117,235 256,143 |
Total funds 2024 £ 292,336 6 6,500 1,052 299,894 182,659 182,659 117,235 138,908 117,235 256,143 |
Total funds 2023 £ 224,941 129 230,173 372 |
|---|---|---|---|
| 455,615 | |||
| 450,234 | |||
| 450,234 | |||
| 5,381 | |||
| 133,527 5,381 |
|||
| 138,908 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 17 form part of these financial statements.
Page 7
INNER WINGS (A company limited by guarantee) REGISTERED NUMBER: 12703942
BALANCE SHEET AS AT 30 JUNE 2024
| Note Fixed assets Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
127,749 136,259 264,008 (7,865) |
2024 £ 256,143 256,143 - 256,143 256,143 |
37,690 107,794 145,484 (6,576) |
2023 £ 138,908 |
|---|---|---|---|---|
| 138,908 | ||||
| - 138,908 |
||||
| 138,908 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
Melissa Di Donato Roos
Trustee Date: 12/09/2024
The notes on pages 9 to 17 form part of these financial statements.
Page 8
(A company limited by guarantee)
INNER WINGS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. General information
Inner Wings is a public benefit entity and a private company limited by guarantee, registered in England and Wales. The registered office address is Aston House, Cornwall Avenue, London, N3 1LF. The registered company number is 12703942 and the registered charity number is 1192877.
The financial statements are presented in Sterling (£), rounded to the nearest £1.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Inner Wings meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The financial statements have been prepared on the going concern basis, which the trustees believe to be appropriate for the following reasons.
The trustees have reviewed the charity’s current cash position, and for a minimum period of at least 12 months from the date of approval of these financial statements, the charity will be able to meet its liabilities as and when they fall due. The trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Having made the appropriate enquires, the trustees consider it appropriate to prepare the financial statements on the going concern basis.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
(A company limited by guarantee)
INNER WINGS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 10
INNER WINGS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
2. Accounting policies (continued)
2.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 292,336 Unrestricted funds 2023 £ Donations 224,941 |
Total funds 2024 £ 292,336 |
|---|---|
| Total funds 2023 £ 224,941 |
4. Income from charitable activities
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2024 | 2024 | |
| £ | £ | |
| Book sales | 6 | 6 |
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INNER WINGS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
4. Income from charitable activities (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Book sales | 129 | 129 |
| 5. | Income from other trading activities |
|---|---|
| Income from fundraising events |
| Unrestricted funds 2024 £ Fundraising 6,500 Unrestricted funds 2023 £ Fundraising 230,173 6. Investment income Unrestricted funds 2024 £ Investment income - local cash 1,052 |
Total funds 2024 £ 6,500 |
|---|---|
| Total funds 2023 £ 230,173 |
|
| Total funds 2024 £ 1,052 |
Page 12
INNER WINGS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
6. Investment income (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Investment income - local cash | 372 | 372 |
7. Analysis of grants
| Grants, Confidence building foundation Grants, Confidence building foundation |
Grants to Individuals 2024 £ 4,500 Grants to Individuals 2023 £ 7,500 |
Total funds 2024 £ 4,500 |
|---|---|---|
| Total funds 2023 £ 7,500 |
8. Expenditure on charitable activities
Summary by fund type
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| 2024 | 2024 | |
| £ | £ | |
| Confidence building foundation | 182,659 | 182,659 |
Page 13
INNER WINGS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
8. Expenditure on charitable activities (continued)
Summary by fund type (continued)
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| 2023 | 2023 | |
| £ | £ | |
| Confidence building foundation | 450,234 | 450,234 |
9. Analysis of expenditure by activities
| Confidence building foundation Confidence building foundation |
Activities undertaken directly 2024 £ 29,654 Activities undertaken directly 2023 £ 308,731 |
Grant funding of activities 2024 £ 4,500 Grant funding of activities 2023 £ 7,500 |
Support costs 2024 £ 148,505 Support costs 2023 £ 134,003 |
Total funds 2024 £ 182,659 |
|---|---|---|---|---|
| Total funds 2023 £ 450,234 |
10.
Independent examiner's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 3,600 | 3,600 |
Page 14
(A company limited by guarantee)
INNER WINGS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 126,226 8,397 2,626 137,249 |
2023 £ 109,424 5,183 2,194 |
|---|---|---|
| 116,801 |
The average number of persons employed by the charity during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Head office and administration | 3 | 3 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2024 | 2023 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | 1 | 1 |
12. Trustees' remuneration and expenses
None of the Trustees (or any person connected with them) received any remuneration or benefits from the charity during the period. No expenses were reimbursed to the Trustees in the period.
13. Debtors
| Due within one year Committed donations Income tax recoverable Prepayments and accrued income |
2024 £ 40,000 34,867 52,882 127,749 |
2023 £ - 37,690 - |
|---|---|---|
| 37,690 |
Page 15
(A company limited by guarantee)
INNER WINGS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
14. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 574 2,193 1,474 3,624 7,865 |
2023 £ 555 2,421 - 3,600 |
|---|---|---|
| 6,576 |
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 July 2023 £ 138,908 Balance at 1 July 2022 £ 133,527 |
Income £ 299,894 Income £ 455,615 |
Expenditure £ (182,659) Expenditure £ (450,234) |
Balance at 30 June 2024 £ 256,143 |
|---|---|---|---|---|
| Balance at 30 June 2023 £ 138,908 |
Page 16
INNER WINGS
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
16. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Current assets 264,008 Creditors due within one year (7,865) Total 256,143 |
Total funds 2024 £ 264,008 (7,865) 256,143 |
|---|---|
Analysis of net assets between funds - prior period
| Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 145,484 (6,576) 138,908 |
Total funds 2023 £ 145,484 (6,576) 138,908 |
|---|---|---|
17. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £2,626 (2023 - £2,194). No amounts were outstanding at the balance sheet date (2023 - £Nil).
18. Related party transactions
During the period the trustees made donations to the charity totalling £79,466 (2023 - £150,759). No balances were outstanding as at the year end.
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