CHARITY REGISTRATION NUMBER 1002772
ACCOUNTS AND TRUSTEES, REPORT
FOR THE YEAR ENDED 31ST AUGUST 2022
Introduction
The Tower Hamlets and Canary Vvharf Further Edu¢atioll Tiusl was established
on 17th July 1987, by the Council and Canary Wharf Limiled {fonnerly known
as Olympia and York Canary Wharf Limited and Ihe Canary Wharf
Development Co. Limited}.
1.2 The financial 5t2temenls comply wtth current slalulory requirements, including
the Statement of Recommended Practice.. Accounting and Reporting by
Charities IFRS102).
Ob'ectiv88 and Actfvitles
The original objective of the Trust Fund was thè advancemellt of education and
training for residents of the London Borough of Tower Hamlets in technical and
managerial skills relevaot lo Qommerco and industry.
This objective was
subsequently amended in December 1990, to enable fund5 of the Trust lo be
applied for the advancement of the further or higher education or the vocational
training of person5 l¥ving within th8 London Borough of Tower Hamlets.
Procedures and Polic
for Grant Makin
The Trust has a policy of making grants available for the further or higher
education or vocational training of persons living within the London Borough of
Tower Hamlets.

3.2 Applications for financial a$si$tance are Invlted from p8rsons living Wlthin Tower
Hamlets who meet the eligibilty criteria. Applicatlons are Sought by promoting
the Trust on London 8ofough of Tower Hamlets website.
3.3 A formal trust review meeting including all trustees is held ￿lce a year to make
decisions on new grants and to review on-going grant palicy and its
effe¢liveness. This is nomially supplemented by a third meeting Ic) review grant
applications and consider the investment slTategy.
3.4 The gr8nts are allocated by the Iruslees on the basis of predeteimined criteria.
Achievements and Performance
4.1 During the financial year the Iruslee5 applied the following ¢rtteria to deteTmine
eligibility for assistance from the Trust:.
Three year residency in Tower Hamlets
Exclusion of COUT$es attracling mandatory support
Post-graduate courses and apprenticeships conferring a
vocational qualrfication or likely to enhance employment
prospects
The basic criteria corresponded to those in the previous financial
year
4.2 The Trustees determined that assistance would be concentrated on the
following categori&s'.-
Tltits'on Fees
Maintenance
Students may apply for one or both of the calegories of assis*n¢e. The
assistance granted during the year may be summarised as follows:_

Table I
Award5 Made
." 2021122 Awards
'.stud&rJl
65
. 2020121.Awardo
St'udonts-.
70
One Cale
c>f As51slance Granted
Two Cal¢
OTies of Assistsnce Granted
Awards Mad•
10CI
ILIO
66_
4.3 The trustees are mindful of Ihe public benefit tests for charities, and confirm
lhey have complied with the duty in Seclitsn 4 of the Charilles Act (2011110
have due regard lo public benefit guidance published by the Charity
Commlssion.
4.4 The total number ol awards made decreased slightly 70 {2020121) 10 65 irE
2021122.
4.5 As in the previous year no appli¢anls were granted th levels of assistance.
Payments to students in the academic yeai lolalled £ 115,062 This comprised
the following elements:.
Table 2- Pa
ments To Student5
2021122
.20gG121
ment lo Students in
ear
Rp
ment of Grants rel81in lo
Sub-total.
rants
other gx
•nyès
Per Statement of Financlal ActivÉlle$
1150S2
131.789
revio¢Js
ears
1160fr2
8,873
123 93,5
131.789
9.709
The value of grants awarded decreased by £ 16.727112.7DAI.

The 8ssistsnGe provided to students is as set out below:_
Table 3
A3SlStance Provlded
Tuition Fees
Maintenance
Total Awards
Numberof
Students
62
113,622
1,440
65
122 233
9,556
480
$5
70
The number of awards for tuition fees de¢￿aSed incwsod by 4.6°/o from 65
{2020121)10 62 (20211221.
The number of awards for maintenance also decreased by 2 with the average
value of award decreasing significantly by 75010 from an average of £ 1,911
(2020121) to £ 480120211221. This compares to levels in 2019120 which were
an average of £ 1.475.
A breakdown of the grants awarded tD $ach category of educ8tlon is as sel out
in Appendlx 1.
4.7 The ¢ourses assisted during the financial year are as set out belovr.-
Table 4
urses Assisted
2011122 AWarda.',=: -
Post Gfaduale
First De
ree
Sub Tol41
Advanced EduGalion
A, Levevothèr
20.786
21,4SO
21,880
2,683
2,370
16
36
14
56,290
1.563
46
19,117
Il5'062-
4.8 The specific courses and the level of assistance provided are as set out in
Appendlx 2.
4.9 Appendlx 3 details the instttutions whose students received awards ￿ 2021122.
In 2021122 the number of institutions used decreased slightly from 38 to 32.

Since 2018119 the institution with by far the largest number of attendees was
Account 3. This remains the same in 2021122 (16 in lolal). Their percentage
share increased from 15.21 % of awards made in 2020121 to 20.86 /0 of awards
made in 2021122.
4.10 The Trust is not currelltly considering any extension of ils activities although il
does review its operational ba8is annually.
Financial Review
Investment poltcy
Under the Trust Deed, the trustees have the power to invest in such assets as
they see fil.
Trustees have invested funds in unil trusts managed by CCLA Investment
Management Ltd, wrth an investment objective of seculing a median level of
return with moderate risk whilst maintaining the capital base.
5.2 Reserves policy
The Trust Deed requires the trustees to use the income of the trust in prornoling
its objects. 11 also gives permission for the capital to be used. The use of the
Trust's reserves is therefore wholly al the discretion of the Ifustees, with no
particular level of re58rwes required to be maintained.
5.3 The Trust had available funds {including £ 295,285 representing the
accumulated under-spent funds from earlier years) lo provide assistance in the
8cademic year of £ 445,462 1£ 436,783 2020121). The Trust incurred
expenditure of £ 123.935 (£ 141,498 in 2020121} vthich represented 28¥0 {320/o
20201211 of available resources. The figure also represents 81Q/o of the
dividendslinterest received during the year (see Table 5 below).
The residual funds ol £ 324,0421£ 295,285 2020121) will be carried forward into
the next academic year.
5.4 The fund accrued investment income of £ 149,2841£ 140,304 20201211 during
the year. The relum8 obtained on the different categories of investment are as
sel out below'.-

Table S
Investment Returns
Common In¥￿tment
Average Balan
2021122
Dividendsllntere$l
Receivod
Rèturn
308,494
5,071.817
679.197
411,777
6,471.285
2.788
141,253
2,462
2,781
149,284
0.90%
2.79%
0.36%
Q.68%
2.31%
5.5 The markel value of the investment in Common Investment Funds reduced by
£ 245,000 14.34D/ol during the year. The apprecialionldeprecialion on the
different categories of investment is set out below'.-
Table 6
Ca
ital A
reciatlon of Common
nvestment Funds
F4xed lritarè8t
274.828
45,358
320.186
.Totsl
2,322 600
3 031 810
5.354410
296,802
5,408,212
Book Value
reciation Since Ac
Market Valuè 01.Q9.21
Additions
Market Value 3t.08.22 or date
of dis
sal
2,344 S74
2 986 452
5,034.224
296 802
5.109,410
uisilion
296,802
Appreciation1Dep￿ClatIon
2021122
Return 2021122
Annv81 Return since
uisilion
-23,384
-221,616
-245.ODO
-7.30%
0.29°
-4.16%
4.34%
-4.340
3.91%
5.6 On the 8th December 2021 the Trustees decided to combine the COIF Charities
Fixed Interest Fund with Ihe better performing COIF Charities Investment Fund.
On the 24th February 2022 the hol(lings in the Fixed Interest Fund were
transfefTed into the Charities Investment Fund purchasing 15,929.33 shares at
a price of £ 18.63241share.
5.7 The financial accounts are as set out in Appendix 4.

Ocean Estate Bursa
Scheme
The trust has taken on the adminislralion of the O¢ean Estate Bursary scheme
at the iequesl of Tower Hamlets Council. Although il was originally envisaged
that the OEB scheme would only last five years the scheme has been slow lo
get off of the ground. As a consequence Ihe scheme will continue (Jntil all funds
have been allocated.
The London Borough of Tower Hamlets awarded a grant lo the THCWFET of
£150,000.00. The purpose of the grant is specifically to facilitate students who
are ￿SIdent on the Ocean Estste. Slepney who wish to pursue higher education
opportunities.
The grant is funded under s106 of the Town and Country Planning Act which
allows contributions to be sought from developers towards the cost of providing
commLrnity infrastructure. The grant is designated the Ocean Estate Bursary
IOEBI
The Trust is lo promote the advancement af higher education amongst the
students and will beassisled by the Ocean Regeneration Trust IORD lo identify
potential appli¢ants and to better adtninister the grant ifj a¢¢ordance wllh the
purpose for which it is awarded.
Grants will Only be 9iven for higher education and po81 gfaduale Coufses and il
was ortginally envisaged that a maximum of 45 bursaries are lo be made during
the grant period. This originalty commenced Augu512014. As has already
been noted it was originally intended that the scheme only fun for five years.
However, take-up has been slow and the scheme will now run until 811 funds
have been expended.
For the 2021122 academic year the Ocean Estate scheme awarded bursaries
to 15 students lotalling £ 15,000. Thls is the same figure as in 2020121.
ruclure Governance and Mana
ement
The tru51ees are nominated by the parties in the trust document. The London
Borough of Tower Hamlets nominees are executive decisions cu¥renlly
undertaken by the Mayor. The trustees nominated by Canary Mtharf are
managers ofthe Company.
7.2 Following their appointment, new trustees underg¢ a short training session to
familiarise themselve$ with the charity and the context in which it operates and
to gain awaTeness of their legal Dbligalions undei charity law. They are
provided with a copy of the Tru51 Deed and the lalesl financial statements.

7.3 The trustees annually review the risks that the charity faces. To dale these
have mainly related lo investment management and these have been
ameliorated by diversified portfolio management.
Trustee3 have taken step$ to mitigate the financial risks that the charity faces
by..
holding the inve$tmenls in long established unil trusts-
ensuring the investments are diversified,. and
allocating grants 8nnu811y on the basis of projected investment income
thereby having no signiflcanl financial commitments.
Fulure Plans
In the medium term the Iruslees plan to continue lo run the trust on the same
basis ol making grants in accordance with set criteria.
Re5
onsibilities of t
rustees
Charity law requires the tnjstees to prepare financi81 statem8nts for each
rinancial year which shows a true and lair view of the state of affairs of the
harity and of Its financial activities that period. In preparing those finafteial
statements, the trustees are required to-.
Select suitsble accounling policies and then apply them consistently.,
Make judgements and estimates that are reasonable and prudenl..
Slate whether applicable accounting standards and stalemenls of
recommended practice have been followed, subject to any departure
disclosed and explained in the financlal statements.. and
Prepare the financial slatemenls on the going concern basis unless it is
inapprGpriale to assume that the charity will continue oft that basis.
The trustees are responsible for keeping proper accounting records that
disclose with reasonable accuracy at any lime the financial positson of the
charity and enable them lo ensure that the financial gtatemenls comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations and the
provisions of the trust deed. They are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention
and detection Csf fraud and other irregularities.

Meml)ers of Ihe Trust8e Board
Members of fhe Trustee Board, who served during the year are set out below.
10. Reference and admlnistrative details
10.1 The Trust has charitable slalus and was registered with the Charity
Commisslon on 2nd May 1991 (Reyistration Number 1002772).
10.2 The address of the registered charity is'.-
London Borough of Tower Hamlets
V4Trilechapel Town Hall,
160 While¢hapel Road,
London
E1 1BJ
10.3 Trustees
The Trust Deed provides for party ¢fTTusleeship between the London Borough
of Tower Hamlets {LBTH} and Canary Wharf Limited. Members of the Trustee
Board who served during the year and up to the date of this report. are set tsul
below..
Current Trust8
Mr Neil Griffith$
Director- People Development
Appoint￿ 04.06.24
Ms Parmitha T3hid
Associ018 Dir8clor- Leaining and Skills
Appoinled 04.C6.24
Clli ma￿Um To￿kdar
Councillor LBTH
Appointed 04.06.24
Cllr Miraj IArninl Rahman
Councillor L8TH
APp￿nt￿ 04.06.24

PrèvlDUS Trustee
ver
the
ertod o
nts t date
ac
Ms Vicky Clark
Officer )f LBTH
Appointed 23101119. Retired 04106124
Cllr Abdal Ullah
Coullcillor LBTH
Appointsd 231C11119, Retired W06124
Mr Howard Dawbgr
Managing Oirector ol Strateby
Appoint￿ 12110120, Rdiire¢ 04106124
Mr Zakir Khan
DireEtoi of Communrty
Appointed OSJ08121. Retired 0411W24
10.4 Independent Examlners
Independent Examiner
Mr Frank MGDowell
FJM Accountancy Limited
23 Shackleton Court
2 Maritime Quay
London E14 3QF
10.5 Bankers
The Cooperative Bank plc
POBox101
1 Balloon Street
Manchester
M60 4EP
10.6 Investment Fund Managers
CCLA Investment Management Limited
COIF Ch3Fily Funds
80 Cheapside
London
EC2V 6DZ
-1

Approved by the Iruslees and signed on their behalf on
Mr Neil Grrffilhs
Trustee (and Chairl
al•..
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Independent Examlnees Report to the trustees ol
Tower Hamlets and Canary Wharf Further Educatlon Trust
I report to the trustees on my examination of the accounts of the Tower Hamlets and Canary Wharf Further
Education Trust (the Trust) for the yearended 31 August 2022.
R¢spon8lblllt108 and ba815 of rgP¢)rt
As the ¢h4rity trustees of the Trust you are responsible for the preparation of the ac¢ounl$ in accordance wrth
the requirements of the Charities Act 20111'the Acyl.
l report in respect of my examination of the Trust's accounts carried out under seCt￿n 145 of the 2011 AGt and
in carrying trul my examirtabon I have foilowed all the applicabte Directtons given by the Charity Ccmmission
under section 145(5llbl of the Act.
Indèpendent examinel$ ststement
I have completed my examination. I confirm that no material matters have come to my attent￿)n in connection
with the examination giving me Cause to believe that in any material respect.
1 8ccounting records were not kept in reSp￿t of the Trust as required by sectsDn 130 of the AGI., or
2 the accounts do not accord wth those re¢orfs', or
3 the accounts do not compty with the applic8bl& requirements conceming the form and content of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
a￿o￿nts give a 'lrue and fair view which ts not a matter consideTed as part )f an independent examin*ion.
I havo no concerns and have come acrnss no other malters ift connecbon with the examination lo which
attention should drawn in this report in Drder lo enable a proper un(Iwstanding of the accounts lo be
reached.
Frank J MGDow¢ll FMAAT
FJM AccounlanGy Llmlted
23 Shackleton Court
2 Maritime Quay
London
E143QF
Date.. 10 September 2024