Finance Score: 4

Governance Score: 9

Support Score: 3

Good reserves management: +3
Reasonable growth: +1

Good trustee age range: +3
Dynamic board: +3
Gender balanced board: +3

Grant maker support: +3

Overall GiG Score: 16

EDUCATION FOR INDUSTRY GROUP

Education

Analysis by Giving is Great

Positives:

Reserves management has been consistently within official guidelines
There has been reasonable growth in spending over the last 3 years relative to the previous period
There have been no material income shortfalls in recent years
A significant proportion of recent income was derived from major grant makers including the Government
The Board appears to be well diversified in terms of age and gender and dynamic in terms of composition

Regulatory & Governance issues to consider:

One or more trustees receive payments or benefits from the charity for providing services to the charity

Established: 17 years

www.fashionretailacademy.ac.uk

graham.cooper@fra.ac.uk

02073072345

Charity Commission for England and Wales

Tweets

Financial Data ?

Income & Spending ?

Sources of Income ?

Y/E		Income £k	Spending £k	Surplus/ Deficit	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff
31/07/23		£14,388	£14,658	£-270	£0	£6,169	£6,137	5	169
31/07/22		£13,500	£12,045	£1,455	£0	£6,439	£6,354	6.3	154
31/07/21		£12,143	£10,987	£1,156	£0	£4,984	£4,817	5.3	101
31/07/20		£11,093	£10,796	£297	£0	£3,828	£3,688	4.1	123
31/07/19		£10,133	£9,457	£676	£0	£3,392	£3,392	4.3	85
31/07/18		£8,688	£8,172	£516	£0	£5,448	£4,473	6.6	63
31/07/17		£7,198	£7,305	£-107	£0	£5,339	£4,364	7.2	58
31/07/16		£7,320	£6,711	£609	£0	£5,810	£4,837	8.6	57
31/07/15		£5,706	£5,513	£193	£45	£5,171	£3,999	8.7	55
31/07/14	*	£5,888	£5,958	£-70	£32	£5,485	£5,485	11	67
31/07/13		£5,652	£5,511	£141	£41	£6,120	£6,120	13.3	47
31/07/12		£5,275	£5,096	£179	£38	£6,480	£6,480	15.3	42
31/07/11		£5,087	£4,790	£297	£0	£6,783	£6,783	17	35
31/07/10	*	£4,278	£4,101	£177	£0	£7,049	£7,049	20.6	31
31/07/09		£4,403	£4,099	£304	£21	£7,446	£639	1.9	31
31/07/08		£4,317	£3,980	£337	£0	£7,912	£7,912	23.9	30

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Financial Ratios

Fundraising Costs/Relevant Income: 0%
Fundraising Costs/Total Spending: 0%
Senior Staff Costs/Total Spending: 7%
Highest pay band: £150,000-£200,000
Liabilities/Assets: 17%
Liabilities/Income: 9%
Unrestricted Funds/Total Funds: 99%
Reserves/Spending: 5 months
Net Current Assets/Spending: 4 months
Quick Ratio: 3.8

Asset Split ?

Listed activities

Education/Training

How it operates

Provides buildings/facilities/open space
Provides human resources
Provides services

Where it operates

City Of Westminster,

Who it helps

Children/Young People

Who works here?

169 employees

Who's supporting them? ?

Donations from Grant Makers ?

We have details on the following significant donations. Multi-year donations are allocated to the years for which they are earmarked.

Specific Donations

Amount	When Months	To be used for
Department for Education - Apprenticeships Participation 16 - 18
£117,118	01/04/2020	To fund the provision of apprenticeship training.
Department for Education - Apprenticeships Participation 18+
£329,741	01/04/2020	To fund the provision of apprenticeship training.
Greater London Authority - Grant to Fashion Retail Academy
£544,246	22/09/2015	To modernise the Fashion Retail Academy college estate and its facilities

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (10)

Current Trustees appointed

Gender Split

Based on 9/10 persons

Age Range of Trustees: 41-65

FIONA MARIE GAUGHAN Appointed: 2018, Occupation: Company Director

JAMES MICHAEL BARRON Appointed: 2018, Occupation: Company Director

KIM LONGMAN Appointed: 2005, Occupation: Personnel Director

LEE LUCAS Appointed: 2014, Occupation: Academy Principal

LAURA MICHELLE CHARLES Appointed: 2017, Occupation: Company Buyer

PROFESSOR LINDA SALLY DREW Appointed: 2022, Occupation: Creative Education Champion, Other trusteeships: CHARITY FUND 1961 STATIONERS AND NEWSPAPER MAKERS COMPANY, THE HIGHER EDUCATION IN ART AND DESIGN FOUNDATION,

SALLY CLAIRE LOUISE HARRIS Appointed: 2021, Occupation: Finance Consultant, Other trusteeship: THE ROYAL NATIONAL INSTITUTE FOR DEAF PEOPLE,

SIMON TIMOTHY WILLIAMS Appointed: 2022, Occupation: Director Of Change And Improvement

SUSANNA VICTORIA KEMPE Appointed: 2021, Occupation: Company Director

VANESSA SPENCE Appointed: 2018, Occupation: Company Director

Legal constitution

Charitable company registered in England & Wales on 07/06/2007, number: 1119540
Registered at Companies House on 13/07/2005, number: 05507547

Gift Aid

NOT registered with HMRC for Gift Aid

Other Regulators

Ofsted (Office For Standards In Education)

Policies in force

Bullying and harassment policy and procedures
Complaints handling
Complaints policy and procedures
Conflicting interests
Financial reserves policy and procedures
Internal charity financial controls policy and procedures
Internal risk management policy and procedures
Investing charity funds policy and procedures
Investment
Paying staff
Risk management
Safeguarding policy and procedures
Safeguarding vulnerable beneficiaries
Serious incident reporting policy and procedures
Social media policy and procedures
Trustee conflicts of interest policy and procedures
Trustee expenses policy and procedures

Filing Record

16 returns made; AR14: 3 days late, AR10: 41 days late,

Main office

THE FASHION RETAIL ACADEMY
7-15 GRESSE STREET
LONDON
W1T 1QL

Objectives

3. OBJECTS OF THE COMPANY3.1 THE OBJECT FOR WHICH THE COMPANY IS ESTABLISHED IS THE PROMOTION AND ADVANCEMENT OF EDUCATION FOR THE PUBLIC BENEFIT AND IN PARTICULAR THE PROMOTION AND ADVANCEMENT OF EDUCATION ABOUT THE RETAILING INDUSTRY THROUGH:(A) THE DEVELOPMENT OF SKILLS IN RETAILING AND RELATED AREAS THROUGH THE PROVISION OF TRAINING AND QUALIFICATIONS;(B) THE DEVELOPMENT, PROMOTION AND MAINTENANCE OF STANDARDS FOR GOOD PRACTICE IN RETAILING AND RELATED AREAS;(C) THE DEVELOPMENT AND DISSEMINATION OF KNOWLEDGE AND UNDERSTANDING ABOUT THE STANDARDS FOR GOOD PRACTICE IN RETAILING AND OTHER INFORMATION OF THE RETAILING INDUSTRY WHICH IS OF INTEREST AND BENEFIT TO THE PUBLIC OR SECTIONS OF THE PUBLIC.

Defined Area of Benefit:

NOT DEFINED.

Data Sources