WITH INSIGHT Annual Accounts Charity Number:1198026 withinsightedu.org
Breaking barriers, unleashing ote*¢LA With Insight Education is a charity with the mission to advance the educational and professional prospects of black-heritage students so that society is an accurate reflection of the talent available. We are determined to remove the perceptual and structural barriers that black-heritage students face and believe that creating opportunities for purposeful interactions with top universities and leading organisations is fundamental to this. Charity Number . 1198026
"Being an Insight2uni mentee was an invaluable experience for me. Now that I have become a mentor, I hope that l am able to be the person to ease my mentee's anxieties and answer any queries they ave when they feel y have no one else to turn to. mentees secure offers from top universities 1000, Students supported 987. Report a growth in their communication skills 1007. Kasey, Insight2Uni mentee who progressed to become a mentor. Mentors report improved employability skills Since 2018, our highly structured mentoring programmes have supported over 1,000 students to gain the confidence, knowledge and soft skills to secure a more prosperous future. A future where they have fairer access to top universities, professional employment and opportunities for social mobility. You can find out more about our work on our website: https:Ilwww.withinsightedu.orgl Charity Number . 1198026
REGISTERED CHARITY NUMBER: 1198026
With Insight Education
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st August 2023
With Insight Education
Contents of the Financial Statements for the Year Ended 31st August 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 to 12 |
With Insight Education
Report of the Trustees for the Year Ended 31st August 2023
The trustees present their report with the financial statements of the charity for the year ended 31st August 2023. The trustees have adopted the provisions of 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).
Objectives and activities
With Insight Education exists to advance the educational outcomes of black-heritage pupils with the aim of helping them to secure places at top ranked universities and progress into professional careers.
We provide highly structured mentoring programmes that support students gain the confidence, knowledge and soft skills to secure a brighter future. A future with greater opportunities for social mobility.
We are determined to remove the perceptual and structural barriers that our students face and believe that creating opportunities for purposeful interactions with top universities and leading organisations is fundamental to this.
Our progammes
Our programmes are designed to enhance students' confidence, to enable them to make informed decisions by providing them with high quality guidance and to equip them with the skills to succeed.
In response to the changing needs of our students and their schools, we expanded our programme portfolio to offer:
Insight2Uni - A 10-month long programme that supports high potential Year 12 pupils to navigate a path to a leading university
Foresight - An intensive term-long programme that equips Years 9-10 pupils with an understanding of how to work towards an aspirational university future.
Elevate career mentoring - The opportunity for sixth form pupils to broaden their horizons about the world of work and develop the transferable skills that employers seek.
Career Insight days - An invaluable way for students to gain a snapshot view of an organisation, interact with an array of staff and learn firsthand how to construct successful applications.
Public benefit
It is confirmed that the Trustees have had regard to the Charity Commission's guidance on public benefit and the only objects for which the Charity was established are for the public benefit.
Our approach
Initially online only, our programmes now incorporate a greater element of face-to-face contact. This is fundamental in addressing the need for social connections that our students tell us that they crave.
However, our values remain steadfast:
Life changing - It is crucial to us that we make a difference, so we are unapologetically focused on targeting our transformational programmes at black-heritage students.
Barrier busting - We are determined to remove the perceptual and structural barriers that black-heritage students face. This focus shapes our programme offering.
Credible - We are passionate about research and evaluation and enthusiastically embrace insights that will help us to improve our offering.
Nurturing - We care deeply about the many relationships that we hold. We treat everyone with respect, consideration and strive to make every interaction feel personable.
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With Insight Education
Report of the Trustees for the Year Ended 31st August 2023
Achievement and performance Programme impact
We turned five years old in July 2023. This landmark anniversary provided us with an opportunity to reflect on all that we have achieved over this time.
81% of our mentees feel more comfortable to go to a top university. 87% of our Insight2Uni mentees secure offers from top universities. 98% of our mentees report a growth in their communication skills. 93% feel better prepared to handle interviews. 92% gain an improved understanding of the world of work. In total, we exceeded 1000 students supported by our programmes.
Validation of our social impact.
Our long-standing client, University of East Anglia, commissioned an independent research agency, Alterline, to evaluate the efficacy of the Insight2Uni programme. The findings were very positive, citing that the "Insight2Uni programme has been shown to be impactful both in terms of building students' knowledge & confidence around university, and their progression to top third ranked universities. Specifically, With Insight's evaluation of the Insight2Uni mentoring programme highlighted the significant difference it has made for prospects who were mentored by UEA students. They reported feeling more comfortable about studying at a top-tier university and that they were better prepared to apply than they had previously been.
Commissioning of our mentoring expertise
We were delighted that over the past year, other organisations started to entrust us to design and deliver their mentoring programmes.
The Cowrie Scholarship Foundation is a fantastic charity that aims to provide 100 fully funded scholarships for black students. They recognised the emotional support that their Scholars required and approached us to create and oversee the mentoring aspect of their programme.
Similarly, the University of Manchester's School of Natural Sciences department commissioned us to deliver a mentoring programme for the recipients of their Diversity PhD Scholarship.
This type of work represents an alternative revenue stream for the charity. Crucially, it also evidences that we now have a reputation for delivering best practice programmes for black-heritage students.
A growing profile
In January 2023, we launched our Thoughts With Insight newsletter via LinkedIn. With articles spanning how to support staff to be authentic in the workplace to the need for organisations to go beyond performative diversity actions, the newsletter has proved to be an effective way to share our insights to hundreds of readers each month.
In recognition of her pioneering work and positive social impact, our CEO, Christine Kinnear, was listed as one of the NatWest WISE100 top female social entrepreneurs in the UK.
Financial review
Financial position
The charity's statement of financial position is as set on page 6. The charity showed a net increase in funds of £33,021 (2022 - £34,032). The funds of the charity are in surplus by £110,628 (2022 - £77,607). The funds held will be used to continue the charity into the future.
Reserves policy
The reserve policy of the charity is to maintain available funds above a level equal to three months of overheads, with cash flow forecasts being monitored regularly. If within three months the available funds are due to fall below this safe level, an extraordinary meeting of the Trustees will be called to decide if any immediate actions are required.
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With Insight Education
Report of the Trustees
for the Year Ended 31st August 2023
Future plans
The trustees plan to continue providing the current mentoring programmes and continue with their aim of securing the necessary funding to do so.
Structure, governance and management
Governing document
The charity is controlled by its governing document and a deed of trust.
Charity constitution
With Insight Education is a Charitable Incorporated Organisation that incorporated on the 23rd February 2022. Prior to this date, the organisation ran as a Community Interest Company.
The charity was established under the Constitution of a Charitable Incorporated Organisation with voting members other than its charity trustees.
Recruitment and appointment of new trustees
Trustees are recruited in an open recruitment process. The specification of the Trustee position is guided by the outcome of a skills audit carried out by the Board. As part of their safer recruitment process, the Board ensures that Trustees have an enhanced DBS check. They also undergo safeguarding training.
Induction and training of new trustees
Trustees are invited to see our programme delivery in action and get involved in specific pieces of work depending on their interests and expertise.
All Trustees give their time voluntarily and receive no benefits from the charity.
There are four meetings per year, each of which have a set agenda that involves, but is not limited to, reviewing the charity's activities, its finances, policies, receiving a safeguarding update and discussing strategic matters. Risks and mitigating actions are also considered.
Reference and administrative details Registered Charity number 1198026
Principal address
124 City Road London EC1V 2NX
Trustees
Miss P Gajjar Ms E Bremner Mr A Melville Ms H Drummond M O Onyido
Independent Examiner
David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
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With Insight Education
Report of the Trustees
for the Year Ended 31st August 2023
Approved by order of the board of trustees on the 24[th] January 2024 and signed on its behalf by:
................................................................. Miss P Gajjar - Trustee
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Independent Examiner's Report to the Trustees of With Insight Education
Independent examiner's report to the trustees of With Insight Education
I report to the charity trustees on my examination of the accounts of With Insight Education (the Trust) for the year ended 31st August 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts 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.
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.
David Hatchard BA FCA
Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
Date: .............................................
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With Insight Education
Statement of Financial Activities for the Year Ended 31st August 2023
| Year Ended 31/8/23 Unrestricted fund Notes £ Income and endowments from Donations and legacies 156,309 Expenditure on Raising funds 3 108,748 Charitable activities Advertising 3,526 Other 11,014 Total 123,288 NET INCOME 33,021 Reconciliation of funds Total funds brought forward 77,607 Total funds carried forward 110,628 |
Period 1/8/21 to 31/8/22 Total funds £ 138,015 87,343 4,879 11,761 103,983 34,032 43,575 _77,607 _ |
|---|---|
The notes form part of these financial statements
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With Insight Education
Statement of Financial Position 31st August 2023
| 2023 Unrestricted fund Notes £ Fixed assets Tangible assets 9 566 Current assets Debtors 10 22,599 Cash at bank 90,253 112,852 Creditors Amounts falling due within one year 11 (2,790) Net current assets 110,062 Total assets less current liabilities 110,628 NET ASSETS 110,628 Funds 12 Unrestricted funds 110,628 Total funds 110,628 |
2022 Total funds £ 755 24,250 60,002 84,252 (7,400) 76,852 77,607 77,607 77,607 77,607 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24[th] January 2024 and were signed on its behalf by:
............................................. Miss P Gajjar - Trustee
The notes form part of these financial statements
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With Insight Education
Notes to the Financial Statements for the Year Ended 31st August 2023
1. Conversion to charity
With Insight is a Charitable Incorporated Organisation, registered in England and Wales. The charity's registered number and registered office address can be found on the Company Information page.
The entity converted from a Community Interest Company (C.I.C.) to a Charitable Incorporated Organisation as of 23rd February 2022.
The accounts have been prepared using merger accounting as advised by The Charities Statement of Recommended Practice (SORP) (FRS 102).
The assets, liabilities and funds have been presented as though they had always been part of the same (restructured) charity in the previous year. Even though the change in legal form had taken place part way through the previous reporting period, the accounts have been drawn up to include the results of the combining (unincorporated and incorporated) C.I.C. and charity for the whole of the previous reporting period in which the restructure occurred.
2. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Prior to converting to a charity, the C.I.C. was liable to corporation tax on profits made.
Tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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With Insight Education
Notes to the Financial Statements - continued for the Year Ended 31st August 2023
2. Accounting policies - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
3. Raising funds
Raising donations and legacies
| Year Ended 31/8/23 £ Staff costs 91,986 Courses & Training 8,475 Insurance 1,407 Subcontractors - Telephone 329 Programme delivery costs 1,826 Sundries 156 Rent 4,569 108,748 Auditors' remuneration Year Ended 31/8/23 £ Other assurance services 490 |
Period 1/8/21 to 31/8/22 £ 71,969 72 813 3,840 162 5,080 235 5,172 |
|---|---|
| 87,343 | |
| Period 1/8/21 to 31/8/22 £ 350 |
4. Auditors' remuneration
5. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31st August 2023 nor for the period ended 31st August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2023 nor for the period ended 31st August 2022.
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With Insight Education
Notes to the Financial Statements - continued
for the Year Ended 31st August 2023
6. Staff costs
| 6. | Staff costs | ||
|---|---|---|---|
| Period | |||
| 1/8/21 | |||
| Year Ended | to | ||
| 31/8/23 | 31/8/22 | ||
| £ | £ | ||
| Wages and salaries | 87,503 | 68,426 | |
| Social security costs | 2,410 | 2,326 | |
| Other pension costs | 2,073 | 1,217 | |
| 91,986 | 71,969 | ||
| The average monthly number of employees during the year was as follows: | |||
| Period | |||
| 1/8/21 | |||
| Year Ended | to | ||
| 31/8/23 | 31/8/22 | ||
| Staff | 3 | 2 | |
| No employees received emoluments in excess of £60,000. | |||
| 7. | Comparatives for the statement of financial activities | ||
| Unrestricte | |||
| fund | |||
| £ | |||
| Income and endowments from | |||
| Donations and legacies | 138,015 | ||
| Expenditure on | |||
| Raising funds | 87,343 | ||
| Charitable activities | |||
| Advertising | 4,879 | ||
| Other | 11,761 | ||
| Total | 103,983 | ||
| NET INCOME | 34,032 | ||
| Reconciliation of funds | |||
| Total funds brought forward | 43,575 | ||
| Total funds carried forward | 77,607 |
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With Insight Education
Notes to the Financial Statements - continued for the Year Ended 31st August 2023
8. Income tax
Prior to converting to a charity, the C.I.C was liable to corporation tax on the profits made. This amounted to £4,911 in the previous period.
9. Tangible fixed assets
| Tangible fixed assets | ||
|---|---|---|
| Computer | ||
| equipment | ||
| £ | ||
| Cost | ||
| At 1st September 2022 and | ||
| 31st August 2023 | 1,006 | |
| Depreciation | ||
| At 1st September 2022 | 251 | |
| Charge for year | 189 | |
| At 31st August 2023 | 440 | |
| Net book value | ||
| At 31st August 2023 | 566 | |
| At 31st August 2022 | 755 |
10. Debtors: amounts falling due within one year
| 10. | Debtors: amounts falling due within one year | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Trade debtors | 22,599 | 23,500 | |||
| Other debtors | - | 750 | |||
| 22,599 | 24,250 | ||||
| 11. | Creditors: amounts falling due within one year | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Taxation and social security | (165) | 5,093 | |||
| Other creditors | 2,955 | _2,307 _ | |||
| 2,790 | 7,400 | ||||
| 12. | Movement in funds | ||||
| Net | |||||
| movement | At | ||||
| At 1/9/22 | in funds | 31/8/23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 77,607 | 33,021 | 110,628 | ||
| TOTAL FUNDS | **77,607 ** | 33,021 | 110,628 |
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With Insight Education
Notes to the Financial Statements - continued for the Year Ended 31st August 2023
12. Movement in funds - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 156,309 156,309 |
Resources Movement expended in funds £ £ (123,288) 33,021 (123,288) 33,021 |
|---|---|---|
Comparatives for movement in funds
| Net movement At 1/8/21 in funds £ £ Unrestricted funds General fund 43,575 34,032 TOTAL FUNDS 43,575 34,032 |
At 31/8/22 £ 77,607 77,607 |
|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 138,015 138,015 |
Resources Movement expended in funds £ £ (103,983) 34,032 (103,983) 34,032 |
|---|---|---|
13. Related party disclosures
There were no related party transactions for the year ended 31st August 2023.
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