2022-08-31-accounts

Company No. 02827835 (England & Wales) Charity No. 1040962 TOWER HAMLETS EDUCAIIONBUSINESSPARTNERSHIP LIMITED Acom limited b uarantee TRUSTKES, REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 August 2022

TOWER HAMLETS EDUCATION BUSINE&S PARTNERSHIP LIMITED CONTENTS Page Legal and Ad￿￿nIstrAtIVe Inforll￿tion Trustees, Rewbrt Independent Auditor's Report Statement of Flnanclal Actfvities 12 BAIAnce Sheet 13 Statement of Cash flows 14 Notes to the FlnAnclal Statements 15

TOWERHAMLETS EDUCATION BUSINESS PARTIS'ERSHtP LIMITED Legal and Administrative Information For the Year Ended 31 Au ust 2022 TRUSTEESIDIREcfoRS Mark Campbell (Chair) Clifford Chance Richard Foley (Resi￿]ed on 30 June 2022) The Portal Trust Geny McDonald Sarah Barnes New City College (Principal) Saiam Ahmed Queen Mary University of London UCL Institute of Clinical Trials & Meihodob Jenllie Bird Jemima Reilly Harry Gosling School Morpeth School Iveren Yongo Dr Tina Sode Talbot Underwriting Anita Bhardwaj L4)ndon Borough of Tower Hamlets Jayant Kumar Morgan Stanley Rachel Dodds Barclays KPMG SECRETARY Helen Sanson REGISTERED OFFICE Norvin House. 45-55 Commercial Street. London. El 6BD COMPANY NUMBER 02827835 CHARITY NUMBER 1040962 BANKERS HSBC, 75 Whitechapel Road. Londoll El l DU Santander, 298 Deansgate, Manchester M3 4HH Close Brothers, l O Crown Pla¢¢. London EC2A 4 SOLICITORS Russell-Cook¢. 2 Putney Hill. Puthey, London SWI 5 6AB AUDITORS Goldwins Limited, 75 Maygrove Road, West Hampstead. London NW6 2EG

TOWER HAMLETS EDUCATION BUSINESSPARTNERSHIP LIMITED Trustees, Report For Ihe Year Ended 31 August 2022 TRUSTEESI REPORT The trnstees (who are also the directors) present their report and the audiied f￿anCiaL ststem¢nts of lh¢ charitable compally for the year end¢d31 August 2022. The statutory infornlalion is shown on Page l. STRUCTURE, GOVERNANCE, MANAGEMENT & IUSK This last year has been a transition yeaT from operating under crisi5 management mode during the pandemic, to adjusting to the new normal. Schools have managed the entire yearwithout any closu businesses have seen staff re￿rn to the workp1￿C and our charity has pr£ssLd ahead with implementing wid¢rstralegtc aims. This yeorhas seen manya¢hievemems de4>ilethe challenges,the mostnotablebeing the celebration of the charity's 30-year annive￿ry. As partof Éhe bro&Jer deVelopM￿t Stra￿gy. and coincide with this significant birthday, a full rebrdnd and name changewas implemented in November 2021. TowerHamle15 Education Busine&s Partn¢rthip now trades as '"I"he Switch,. We will undew) Ihe full legal change in the year ahead.This ¢wo-stepapproath wasadvised by our lawyers to mitigate iisks againstpotential trademark or other clainL8 on thenew narne. The name change proce&% is undaway and will be compl¢t¢d in 2023. Tower Hamlets Education Busin¢ss Partnership is aTegisleroJ Ch￿ity and ci)mpany limil¢JJ by guaranttx. We have refetted to the guidance contained in the Charity Commission's general gUida￿e on pub]ic b¢ncfit when reviewing our aims and objectives and in planning our future activities. The govemr document is the Articles of Association. The Article5 of Association (Section 32) defme who should be Tn]ste¢s of Tower Hamlets Education Business PaLthership. TTUStees are recruited againstth¢ ¢riteIia laid out in Section 32. New Trustees are briefedby the Chief Execulive and thechaimian. On¢ trustee resigned within the year 2021-22. Trustees take dec1s1onsaff￿tItig the strategy of the FAlucation Business Partnersbip and issues affecting the ststutory re4)onsibilities oftheorganisalion. The Chief EXeC￿tiv¢ takes d￿lsionS affethig the day to day running of the organisation 5UPIK)rted by a DeputyDirec¢or. This year we have crealed a new trustee ch8rter lo ensure theboard m¢m￿rS aTC clcar about roles andr¢swnsibiliti¢s. to s¢t t¢mis of offiG¢ and to enhance trustee engagemenl with the charity. The global pandemic had Si￿lf]callt kn(￿k-0nCff¢cts lothe busines& Our opernting model was di&vpt for ttyo years leading to loss of income from traded services. W¢ are still feeling the impact of1he pandcmic in the way we work and are adjusting lo the new norni. Employers are 5ti11 operating hyknid models of home and office working and look unlikcly to retUTn lo pre pandemic practices. As part of our goVerna￿e proces3, we regularly r¢vi¢wour progresson meeting ourstrategic objectives via: Strategy review sessions with the whole staff in desI￿al¢d team rneetings Our annual staff strategy day held every summer Annual and 6-months appraisals where objed1v￿ are Set which directly feed into our strategc priorities Regularone-to-onemanagerand employeemonthlymeetingsto discuss progresson verydetstsj aspects of the work Reports to the Board of TNstee5 on a temily basis Regular communication between the Chair and the Director Termly Finance Committee Meetings Tern]ly Board Meetings and an Annual General Meeting Board strategy away days

TOWERHAMLETS EDUCATION BUSINESSPARTNERSHtP LIIVIITED Trustees, Report For tbe Year Ended 31 August 2022 OBJECTS AND AcfIviTIES Tuwer Hamlets Education Business Partnership (tradingas The Switch) is a leading education chatity Situated in the E4ast End of London em[x>w￿ing children andyoung people to discov￿ theirbest filture. Through our modern and highly effcdive pmgrammes, we facilitate positive engagement betsv¢en education and employas, helping young people to fulfil their potenlial by aspiring to life-chan￿ng ¢areers. All our programnws benefit fromdired involvement of volunteers from ouremployer parttlas. Their iuputs give young p¢ople first-hand experience and knowledge of the world of WOTk. wo￿￿ principally in TowEr Hamlets withprimary. secondary alldsixth forni schools and (¥ylleges weptDvide an enrichingemployability andcare¢rseducatii>nthatenhanc£4statuloryrequtrements andsetsyoungpeopk off on positive pathways. BACKGROUND INFORMATIOli: TowerHamlets remain50neofthe m0stdepriv8jc0mm￿lt1ts inth¢ ¢ountyandoneofthem05tdepJived of all London's Boroughs. There is entr￿cha] inter-genffational unemplo)qnent coupled with povaty of experience and aspirations for Tower Haml¢ts' school childreL Our programmes are the catalyst in changing this damaging cycle of deprivation. According lo the latest report from the End Child Poverty Coalitioj) (July 2022) TowerHamlets Local Authority still has the highest Tates of child poverty at 51.40/0. the only area in the Country over 50/.. With low levels of femal¢ labour forceparticipation, only 3 in 10 (31.40/0) children live in a household where every adult works, the lowest proportion of any London borough. Ithas higher than averase 19 year olds with no qualificatio￿$ (27 /0} andanec(kitally w¢ are lold tbere is still an issue witb graduate under-employment in the borough. Students did not sit formal cxan]s in 2020 or 2021 du¢ to the pandemic. GraLk8were given fromt¢a¢her assessments. This year was the first year since 2019 that authentic compari￿￿5 Can be made follo￿￿ the return of exam& School attainmonl conltnuas to be strong in Tower Hamlets with 74.40/0 of16 year olds achieving a grade 4 or above in English and Maths compaml to the National ftgure of 72Q/o. At A level our schools rank behind IAinikm andNationalpeers in tern￿ of top grade achievern￿ts, althou tbere was an improvement on 2019 outcomes. Our work equip5 young people with the dirertiona] resilience needal to improve educational attainmenL By showcasing thevast array of exciting pathwaysb¢yondschool.we in4Trire Y(￿ng people to want to do more and learn more. Ournew name reflects our direction of travel: We want to 'switch' the narrative about Tower Hamlets from a borough burd¢ned by povty to one ri¢h with opportunity. outstsndll]g schools and a diverse and talented future workforce.

TOWERHAMLETS EDUCATIONBUSINESSPARTNERSHIP LIMITED Trustees, Report For the Year Ended 31 August 2022 THEBP PROGRAMME PORTFOLIO: This year we undertook a major review of our progrdmm&s. Led by thc Head of Innovation& slakehokktS participatedin a wide-rangingconsultaiion. W¢ nOwhavear¢vampedprogramn￿ offerbuilton a chonge model focusedon knowledge, skills and behaviours for the workplace (see diagram below). This wag ratified by the board of Iruslees al a strategy away day in March. Ordinarily, prior to Covid 19, our prO￿amMe portfolio was dependent on face-tO-fa¢x inleractions betW￿n volunteers and school pupil8. Over the last two years we pivoted ourprogrammes lo online versions only. Our new prO￿amMe offer is now a hybrid of in-person and online volunteering which suits Ihe needs of both schools and employas. Tbe new frameworkensures every pupil key stage has age-appropriale programmes, and in the secondary scbools. eath year group will lake part in ai least one Switch intervention every Ye￿ they are at schooL Broaden¢d ¢or¢er aspiralions leading to MpT0v￿ ¢Jcademic ottoinm?nt Employere A¢¢ess t professional nehyork8 Knowledge Improvod workplts¢¢ behtsvitiur$ Skills 8mployobility skills Behaviours In¢reus¢d kntswledge of Ihtr world of Y40¥k and preferr￿ industries Confident in moking informed edvcotion and career deci5ion5 meelingthe Gatsby Benchmarks.CareerDevelopn￿ntInstitUteandskI1lS BuilderUniversalFramew0￿ gjving the pupils an exceptional careers and employability education. To add impact to our activities we nowhave4 stages lo each inlervffltion including pre learning and post event enhaticement to embed the learning. We have kept many olthe mosl popul￿ progr8mmes such &5 Aim2Attain, Reading Partn¢rs and the Head to Hfdd practice interview& bul they have had a face bft and additional resourcesput in place to increase iheir impa¢l. N¢wprogrdmmes developed this year include an opportunity to cxplore work skills for Ihe future themed around sustainability and another, the'youth Voice, project, provid&5 an opportunity lo involve youngpeople in our future direction and ensure co- cr¢alion 15 at ihe heart of progratnme developments.

TOWER HAMLETS EDUCATIONBUSINESSPARTIS'LKSHIP LIMITED Trnstees, Report For the Year Ended 31 August 2022 Another new progrdmme launched this year is theAlumni Progranmiq targeting students 18-25 yw olds who went to school in Tower Hamlets. We have long been aware of th¢ high levels of youth unemploymenl in the borouth, and the high levels of graduate under-employment amongst Tower Hamlets residents. This new programme will provide 5uiyor¢ signposting, skills dcvelopment and other opportunities to young people as they navigate the world beyond school. It will also act as a tracking mechanism forThe Switchenhancingourimpactmeasur¢mentbyrecordingyoungpeople's deslinalion& Working with employers. we will support them in developing their tslent pipelines via our Alumni members,helpingto build amor¢ inclusive anddiverseworkforce.Aspartofthisproj￿tw¢hav¢ SeCu￿d funding to build anonline Alumni Portal for launth in 2022-23 which will act as a reson￿e reposik)ry. a jobs board and a SI￿]p0St1llg iool for opportunities for young people. SCHOOLS WE WORKED WITH: This year we worked with 13 se¢ondary schools and 28 primaries in Tower Hamlets. In addition, we worked wlth a couple of secorKlary 5ch(K)Is in Royal Greenwich. It is a previous slralegic aim of Ibe charity lo ￿QWourw0rk beyond theborougbto reachmoreS￿dats whoaregrowingupin disadvanlased commuuities. Now that the pandemic is over this is something we will revisit in the future. ACHIEVEMENTS AND FUTURE PLANS.. This year, despite some continued disrnptton fromthe pandemic aThJ the ned to ddiv¢r virtual events.. We supported 5000T individual young people We offered 2000 volunteer opportunities W¢ developed 4 new virtual prograrnmes 700 children had a writing partner 600 young people completed virtual work experience We launched a new ment0ringsch¢n￿ for BAME youngpeoplein partnership with the Local Authority We had a sertes of ¢vents and fundraising activities to celebrate and cojrllnemorate our 301b year We ¢omplet¢d a successful rebrand to The Switch An important strategic priority for the 2022_23 finarKial year is the Teturn of the traditional one-wed( work experien¢e foryear l O students (age 14-15). Prior lo COVtD-19. we delivered over 2,OOOwo placements each yearto Tower Hamlet5. schoo]s. The pandemic forced us to develop a 'virMal wotk exp¢rience'programme. which although popular with Sch(￿]5 and businesses, is no substitute fOrthe￿al Ihing. In the stakeholder consultation work experie￿¢ was the leading programme soughi by s¢hool career leads, pupils, and Headfracher4 but only 90/0 of business(3 said they would offer it. We plan tr> deliver 1,000 placements next academic yearand it will be a huge challenge forour organisatio￿ We need to re-engage previous hosting cmployers and secure new ones. We Deed to find a way atDund employees, hybrid work patterns and r￿d solutions that can enable youngpeople to learn about wotkby being with adults in a workplace doing real work tasks. DIGITAL: Another keypriority forthe charity is digital transformation. We inv&%td in a dedicalcdstaffmemberto assist in this process and this yearhehascreated an automatoj ¢venl b(K)king system for sclK)ols, cutlllig down on staff admin and makingil easier forteachers. In the year ahead he will ov¢rsee thebuild of the new Alumni Portal, improvedreporting forpartnffl3 and our CRM migration. The pandemic forcal us to address IT and digital ways of working before we had a chanceto review and plan in a measured way.

TOWER HAMLETS EDUCATIONBUSINESS PARTNERSHIP LIMITED Trustees, Report For the Year Ended 31 August 2022 Now we are in a better position to plan stsyt¢gically and consider the steps we want lo take a8 an organisation that will enhance our work and our reach through dig]lal capability. FINANCIAL REVIEW: For this past financial year, the trustees suM>ortoJ a deficii budget to en511re schools could be in the best way possible. There was still a high degree of uncertainty duringthe latter part of 2021 over future possible Covid variants and fuTtherdi$ruptio￿ We took the decision not to bring back ]n-pe￿)n Work Experiencein 21-22 am0ngstthisunc￿a1ntywiththe1esu1i oflosingaroulld IOO/oof usual income. A Strong performan(¥ in fundraisingthroughout the year enabled us to revise our original forecast and finish the year in a much-improved position income wise. This. coupled with strong controlb P]t)und expenditure. means that our budgeted deficit is siguificantly reduced. The total reserves of theEducalion B￿Ille&8 Partnersh￿noW ¢q￿tel0 just under 12 motrthSexpenditu￿. This level of reserve was agreedby iheTTUStc&8 to provid¢an essential buffer as the charity need8 to be able lo deliver its prngrammGS forthe length of an academicyear. Reserv£s are held in notic¢ intCKSt bearingaccountswiih Santandtr, Close Brosand HSBC. The balance ofunrestricledreseNesto restrKted is sliglLtly more than half the total balance. Fundingsourcas forthechatityare acombinationofprivatesectorand charitablettustgrants,plusincome from Schoo18. The 202212023 Budget seesa retum to a b￿￿k even ￿slI10n, in part dueto a price in¢Y¢ase across all of our services, but also due to the return of work experience. TRUSTEES Ttuslees who served during the year are shown below- _ Mark Campbell (Chair) Richard Foley (r¢sign¢d 30tb June 2022) Sarah Barnes Gerry McDonald (Vice Chair) Dr Saiarn AkLmed Jennie Bird Jemima Reilly Iveren Yongo Dr'l'ina Sode Anita Bhardwaj Jayant Kumar Rachel Dodds The trustees have delegated responsibility for the day-to-day managenKnt of The Tower Hamlets Education Business Partnership Limited (trading as The Switch) to the Direclor, Helen Sanson. Statement of responsibilities of the trustees The trnstees conlirni that the fmancial statements comply with current staMtory requirenKnls, Ihe memorandum aThl artic1&8 ofassociation aThl the Statement of RecommendeA Practice - Accounting and Reportingby Charities.. SORP applicable lo charities preparing Iheir accounts in accord8nce with FRS 102.

TOWER HAMLETS EDUCATION BUSINESSPARTNERSHIP LIMITED Trustees, Report For the Year Ended 31 August 2022 Company law requires the trnstees to prepare finawial statements for each financial year which give a Irue and fair view of the state of affairs of the charitable company and of tbe incoming resour￿$ and application ofresource8 includmg the income ar¥1 expenditure. of thecharitable company for P￿￿KL In preparing these financial statements. the trustees are required to: Select Suitable accounting policies and then apply them consistently Observe the methods and principl¢s in the Charities SORP Make judgements and estimates that are reasonable and prudent Stale whether applicable UK Accounting Siandards and statements of recommended practt have been followed, subject lo any material departures disClo￿d and explained in the financial statements Prepare the financial statements onthe goingconiyrnbasis unless it is in3ppropriate to pr¢sume that the charity will continue in operation The Irust¢es are responsible for keepiJ)gpriyer a￿OUnting￿0r￿% that disclo￿ with reasonablexcw at any iirne the flnancial position ofthe charitable company and enable them to ensure that the financial statements comply with the CompanAesAct 2006. They are also responsible for Safeg￿rdingthc ass¢ts of the charitable company and hence for taking reasonable steps for the PTevo1lion and detlrtion of fraud and other irregulariti¢5. The trustees are respi)nsible for the maintenanceand integrity of the coryorate and financial infotmati in¢luded on the charitable compatys website. Izgislalion in the United Kingdom governing the preparation and disseminationof f￿￿ClaI statem￿tsmaydlffer from legislatiiyn in other jurisdiclions. Statement as to disclosure to our auditors Insofar as the I￿SteeS are aware: There is no relevant audit Inf￿￿￿￿on of whichthe charitable compw)y's auditors are un and The ttustees havetaken all steps thatthey ought to have thken to make themselves of any relevant audil inforniation and to establish ihat the auditors are aware of that infornation. RELATED PARTIES Related parties are shown in note 20 to the financial statements. AUDITORS The auditors, Goldwins Chart￿ed Ac¢ountants. offer themselves for appointtnent in accordance with section 485 of the Companies Act 2006. Thisreportwas approvedby the board on................................................ 2022 and8]￿1x1 on their b¢half. Mark Campbell Director and Chairman

TOWERHAMLETS EDUCA'fIoNBUSINESS PARTNERSHIP LIMITED Independent Auditor's Report To the members of Tower Hamlets Education Busines5 Partnership Limited Opinion We have audiledthc fllwn¢ial statements of TowerHamlels Ethi(ation Busine&s Partnership Limited (the 'charitable compgmy,) for the y¢ar ended 31 August 2022 which comprise the Statcmcnl of FinancTal Activities, tbe Balance Sheet, statemeot of cash flows and notesto the financial slatemenls, including a summary of significant accounting polici&s. The financial reporting framework that has been applied their preparatign is applicable Ip4W and United Kingdom Accounting Standards. including Financial Reporting Standard 102.. The Financial ReFK)rting Standard applicable in the UK andRepublic of I￿knd (United Ktngdom Generally Accepted Accounting Practice). In our opinion. the financial statemenls.. give a true and fairvicw of the stste of the charitable company's affairs as at 31 Au8U512022 and of ils income and expenditure for the year then ended. havebeenproperlypreparedin accordan¢rwithUnitedKingdom GenerallyAccepledA¢coun1ing Practice. hav¢ been prepared in accordance with the requirements of the Companies A¢t 2006. Basls for opinlon We condwled ouraudit in accordancewith tnternational Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under thos¢ standards are further described in the Auditor's responsibilities for the audit of the financial Stalem￿15 seetion of our report. We are independenl of the Charitable company in accordance with the ethical r¢quir¢m¢nts that are relevant to our aiidil of the financial staternents in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ¢thkcalresponsibilities in accordance with th¢serequirements. Web¢lievethatIheauditevidm￿ wchave obtained is suffi¢i¢nt and appropriate to provide a basis for our opinion. Collcluslons relating to gokng concern In auditing the financial statements.we have conduded that the trustees'use of the goingconcernbasis of accounting in the preparation of th¢ financial statements is appropriate. Based on the work wehave perfornrd.we havenotidentifiedany matuialuncertainliesrelatingtoevents or conditio￿4 that, individually or collectively? may cast signifieant doubt on the charitable company's ability to continue as a going concern for a period of at l¢a$t twelve months from when the fmancial statements are authorised for issue. Our responsibililiesandthe resp)nsibilitiesof the trustees withrespecl to goingcon¢¢rnare da8￿1￿ tbe relevant sections of this report. Other Informatloll The trustees are respo￿]ble forthe other Inforn￿lI0n. The other infomiationcomprise8 the infomialx)n included in the annual report oiber than th¢ f￿ancIal statements and our auditor's report th¢rcon. Our opinion on the financial statements does nol cover the other inforniation and. except to the extent otherwise explicitly slated in ourr¢port. we do not expre￿ any forni of assuraD¢¢ conclusion Ihereon.

TOWER HAMLETS EDUCATIOI¥4BUSINESS PARTINERSHIP LIMITED Independent Auditor's Report To the members of Tower Hamlets Education Business Partnership Limited In ¢onnection with our audit of the financial slatanent4 our re4)iynsibility is to read the other informaix)n and, in doing so, consider whether the other inforniation is maierially inconsistent with the fin8w￿l statements or ourknowledge obtained in the audit or otherwise app￿r$tO be materially misstatsd tf we identify such material incon5iStencies or apparent material misstatements, wc ar¢ required to detennine whetherthere is a malerialmisslaiema)tin the f￿ancial s12tements ora materialmisstatemenlofthe other infonnation. If, based on th¢ workwe haveperforniel we conclud¢thatthere is a material mi8stat&nent of this other infomiation, we are required to report that fact. We have nothing lo report in this [C￿rd. Opinions on other matters prescribed by the Comp#nies Act 2006 In our opinion. based on the work undertakcn in the course of th¢ audit: the inforniationgiven in the tmstees. report (incorw>rdting the directors. report) for th¢ fjnancial year for which the financial slatem¢nts are prepaTed is consistent with the financial ststements. and the tru8te¢s' report (incorp)rating the directors. report) has been prep8red in a¢¢ordance wrydl applicable legal requirements. Matters on whlch we art required to report by exception In light of the knowledge andUnde￿landlng of the Charitsble company and its envirot]ment obtaineA] i tbe ¢ourse oftheaudit. we have nol Identifi￿ material misstatements in the Trnstees. Annual Report. Wc have nothing to report in respect of the followingmatters in relation to which the Companies Act 2006 requires us lo report to you if. in our opinion.. adequate accountingrecords bave nol beo) kept or returns adquate forour audit h8ve notbe received from branches not visited by us- the financial statements are not in a￿ement with the accounting records and returns. certain disclosures of trustees. remunerdtion specified by law are nol made. or we hav¢notobtainol all the infomtion andexplanatl0nsnecess￿ forthepUrpoS￿ of ouraudiL The directors wer¢ llot enliiled lo preparethe financial ststements in accordance with the small compani¢s' regime and lake advantage of the small companies. exemrrtions in preparing the trustees, annual report and from the requirement to prepare a strategiG report. R¢spon5iblllties of the trustees As explain￿ motE fully in the trustees. r¢s￿nsIbl11￿eS ststew*nl, the ttuste&8 are reSPo￿$1ble for the preparation of the financial slat¢ments and f0rbeingsatisri￿ that they give a ttue and fair view, and fi such internal control as they deterniine is nccL3sary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or etTOr. In preparingthe financial statements, the tnjstees are resw>nsible for assessingthe Charitable ¢ompany's ability lo continue as a going concenL dis¢losin& as applicabl4 matters related to going concem and using the goitig Concern basis ofaccounting unless the trust¢¢5 either intend to liquidate the Charitabk company or to cease operations. or have no realistic alternative bui to do so.

TOWERHAMLE13 EDUCATIONBUSllYESS PARTIYEILSHIP LIMITED Independent Auditor's Report To the members of Tower Hamlets Education Busine&s Parthership Limited Our responsibilities for the audit of the financial statements Our objectives are to obtainreasonable assuranceabout whetherthe financial statements as a who12 a free from matcrial misstatcm¢nL whether du¢ to fraud or ¢tror. and to j5su¢ an audilor's report that includes OUTopinion.R¢asonable assura￿elS3hlgh level of assurancebutis notaguaranleeihatan a￿11( conduthd in a¢cordonce with ISAS (UK) will always detect a mal¢rial misslalemenl when it exists. Misslatements canarisefrom fraud orerror andareconsidttedmatffial if,individuallyorin the aggre*, they could reasonably be expectedto influencethe economicdecisioA8of users takeLontheb&8is ofthese financial statement5. Irregularities. incEudin8 fra￿1. ar¢ Instanc￿ of non-compliance with laws and regulations. We desi procedures in line with ourresponsibilities, outlined aix)ve,l0 detect material misstatements in respecl of irregularities, including fraud. The exlent to which ourprocedures are capable of detecting irregulariti including fraud are sel out below. Capability of the audit in detecting irregularities In identifyingand assessingrisks of ntsterial misstatement in r¢sFrtt of Irregu1￿111e$. induding fiaud and nonacompliance with law5 and regulations. our proceduTes included the following= We enquired ofrnanagem￿t. whichincludedobtatningandrevieThingsupportingdocumentation, concerning the charity's policies and procedures relaling io: Identifyin& evaluatin& and complying with laws andregulations and wh¢therth¢ywer¢ aware of any instan¢es of non-complianG¢- Detecting and resp(￿dIngtO the risks of fraud and whether they have kNJwledge of any aC￿al, suspected, or alleged fraud. The internalcontrols establis1￿dtornltig8t¢ risksrelatedto fra￿ ornon-conwlianc¢Mqth laws and regulations. We inspected the millutes of meeting5 of those charged with governance. We obtainedan understandingof the legal andregulatory framework thatthe charity Op￿ateS in, focusing on those laws and regulations that had a material effect on tbe financial slatenknts or that h&1 a fundamental effect on the operatiolls of the cbarity from our professional and sector experience. We reviewed the fu￿nCIal statement disclosures a￿1 lestoj thaseto supporting documentation tr> assess compliance with applicable laws and regulations. We perfomed analytical proccthwes to identify anyunusual or Unexp￿led reLati(mships that may indicate risks of material misslatement due to fraud. In addressing the tisk of frdud through management ov¢rridc of controls. we tested ttLe appropriatencs3 of journal entries and other adjustments, assessed whether the judgemenls made making ac¢ounting estimates are indicative of a polenlial bias and lesled significant transactions ihat atE unusual or those outside the normal course of business. Because of the inherent limitations of an audit. there is a risk that we will noi detect all irregularities, including those leadingto a material misstatement in the fmanciai statements or non-compliance wi regulation. This risk increases the moTe thal compliancewith a law 01 Tegulalion is removed fTom Ibe evcnts and transaction8 reflected in the financial stalcment& as w¢ will be lesslikely to become aware of instsn¢¢s of non-wmpliaJK¢. The risk is also greater regarding irregularili¢s 0￿￿rring duelo fraud rather than error, as [rn￿l involves intentional c0￿ealMent, forgery, collusion, omission or misrq)r&8entation. io

TOWER HAMLETS EDUCAIIONBUSINESS PARTNERSHJP LIMITED Independent Auditor's Report To the members of Tower Hamlets Education Business Partnership Limited A further description of our resw>nsibililiesis available on the Financial Reportingcouncil's websits at www.frc.or&uklaudilorsrespon$ibilitie5. This description fomis part of our auditor's report. Use of our report This report is made 501ely lo the Charitable company's members, as a body, in ac¢ordancewith Chapter 3 of Part 16 of the Compani£sAct2006. Ouraudilworkhas beenundataken so Ihalwe mightslate to the Charitable company's members thosematters w¢ are required to stale lo them in an auditor's rq￿rt and forno oth￿purpose. To the fuucstexlelltpemiittedby law. wedo notacceptorassumeTesw)nsibi]ity to anyone otherihan the ch￿l￿ble company's meM￿rS as a b￿y, forour audit work, for this Tepo¢ or for the opinions we have fomied. Anthony Epton (Senior Statutory Auditor) for and behalf of Goldwins Limited Statutory Auditor Chartered AeeountAnts 75 Mxygrove Road West Hampstead London NW6 2EG Dale.. 24 November 2022

TOWER HAMLETS EDUCATIONBUSINESSPAR'fNEIISHIP LIMITED Statemenl of Financial Activilies Uncorporating Income and Expendilure Account) For the Year Ended 31 Au usl 2022 Unrestrlcted Restrlcted Funds Funds 2022 2022 Total Funds 2022 Total Funds 2021 Note INCOME FROM: Donalions 29,052 29.052 32,716 Charilable activities 471.668 522,164 993.832 870.883 Investment income 5.801 5.801 4.657 TOTAL INCOME 506 521 522,164 1028 85 908 256 EXPENDITURE ON: Charitable activities 552.204 536.368 1.088.572 1.040,939 TOTAL EXPENDITURE 552.204 536368 1088572 1040 39 Net (expendithr¢} for the year (45.683) (14,204) (59.887) {132.683) Transfers betweell funds {12.047) 12,047 Net movement in funds (57,730) (2,157) (59,887) (132,683) Total funds brought forward 625,927 418.870 1,044,797 1,177,480 Total funds carried forward 13 568 197 416 713 984 910 1044797 The attached notes forn) part of these fmancial statements. 12

TOWER HAMLETS EDUCATIOh' BUSINESSPARTNERSHtP LIMI'fED Balance Sheet Asat31Au ust 2022 2022 2022 2021 2021 Iyotes FIXED A&SETS Tangible assets 34.180 34,025 CL'RRENT ASSETS Debtors Cash at bank and in hand 217,130 1,042.271 76.659 1.436.043 1.259.401 1,512,702 CREDITORS: Amounts falling due within one year io 308 671 501930 NET CURRENT ASSETS TOTAL NET ASSETS 984 910 1044 797 FUNDS 13 Restricted funds Unrestricted funds.. General funds Total unrestricted funds 416.713 418,870 568 197 625 927 568,197 625,927 TOTAL FUNDS 984 910 1044 797 rmil rfl LV L The accounls were approved by the board of directors on...................... Mark Campbell Dlreetor *lld Chairmvdn Company Registration No. 02827835 The attached notes forni part of these financial statements. 13

TOWER HAMLETS EDUCATIONBUSINESS PARTNERSHIP LIMITED Statement of Cash Flow5 For the Year Ended 31 Au ust 2022 Note 2022 2022 2021 2021 Net cash provided by l (used in) operating activities 16 (388,654) 176,166 Cash flows frorn investing activities: Interesil rent/ dividends from investtnents 5.801 4.657 (Purchase) of fixed assets (10,919) {4,4W) Cash provided by l (used in) investing activlties (5.118) 257 Change In cash and cash equivalent5 111 the year (393,772) 176,423 Cash and cash equivalents ai the beginning of Ibe year 1.436,043 1.259,620 Cash and cash equivalents 4t the end of the year 17 1042 271 1 436 043 14

TOWER HAMLETS EDUCATIONBUSINESS PARTNERSHtP LIMITED Notes to Ihe Financial Statements For the Year Ended 31 Au usl 2022 ACCOUNTING POLICIES Basis of accounting The financial slalements havebeen prep￿ed in acCorda￿e with Accountingand Reporting by Charities.. Statement of Recommended Pra(ice 8pplicabl¢ to ¢hariti&8 prq)aring theiraccounts in accordance with the Fillancial Rep(Yling Standard appli¢abl¢ in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland(FRS102) and the Compani£s Act 20￿. The charity 15 Consider￿ as a public bthefit entity. The principal ac￿unting policies adoptd in the preparation of tbe financial statetuents are as follows: Taxation The charithble company is exempt from taxationu]NkT Section 466 10 493 ofthe CorporationTax Act2010. Income Income is recognisedwhen the charityhas entitlennt to the funds, anyperfonnance conditions attached lo the income have been meL it is probable thatthe incomewill be received and that the amount can be measured reliably. Income from government and other grants. whether 'capital' grants or 'revenue' grants, is recognised when the chgrity has elllitlenrnt to the lund4 any perfonnance Conditio￿ attached tr) the grants have been met, it is probable that the Incon￿ will bc r¢¢eiv¢d and the amount canbe measured reliably. Grants are credited to incoming resourc&s when they are ￿¢¢iVable as the chariW5 own money, unless they are for activities that relateto a spe¢ific futureperiO￿ in wl)ich case they ate ddenul to that period. Income receivedundercontracts for services which cro&5 over the Ye￿ endare reCo￿ls￿ in the f￿ancial statements ill line with the pa￿￿tage of completion of the contract at the year end. Income received in adVa￿e of the provision of a specified servitt is IkfeTTed until thecriterA for income recognition are meL Expendlture Partner costs are recognised in the year in which Ih¢y are incurTed all other resourc£q expended are recognised on an ac¢wals basis. Resourcesexperyl￿l are allocated to a particular activity where the cost ￿lat¢S directly to that activity. They include irrecoverable VAT. The administration and management costs of each activity are apportioned. based on an eslimate of the staff time attributable. to each of the organisalion's projects and aclivilies. 15

TOWERHAMLETS EDUCATIONBUSINE&S PARTNEKSHIP LIMITED Note5 to the Financial Statements For the Year Ended 31 Au ust 2022 ACCOUNIING POLICIES - (CONTIliUED) Fund accounting Unrestricted fun(Ls Compri￿ incomereceived.without a specified purpose. and expendith for the objects of the Ch￿lty. Restricted funds comprise income received for specified purpose as laid down by the donor. Expenditure which meets this criteria is identified to the fund, together with & fair allocation of management and support costs. Designated funds are unrestricted funds earniaTked by the trustees foT particular puTpose8. TaDgible r￿ed assets and depreriation All assets ¢QSting more than £500 are capitalised. Tangible fixed assets are slaled at cost less depreciati(m. Depreciation is provided at ra calculated to write offthe cost less estimatedresidual value of each asset overits expected use￿1 life, as follows: Computer equiprnent 25 /0 reducing balance Fixtures and fittings 20/0 reducing balance Penslons costs The company rnakes pension contriv￿11(￿]s equi￿1￿1 to a minimum of 51J/D of gross sala￿5 on behalf of its employees. Employees are entitled to join the scheme afterbeing in post for three months. The contributions are charged to the Statement of Financial Activities on an acCn￿l basis. Going coneern The tmstees considu that there are no material uncertainties about the charil&ble compangs ability lo continue as a going ¢oncem. The t￿Ste&S do not consider that there are any SOU￿&8 of estimation Ullcertainty at the reporting date that have a Si￿lfiCant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting perx)d. 16

TOWER HAMLETS EDUCAIION BUSINESSPARTNERSHIP LIMITED Notes to the Financial Statemenls For the Year Ended 31 Au ust 2022 DETAILED STATEMENT OF FINANCJAL AcfJvITIES FOR THE YKAR ENDED 31 AUGUST 2021 (COMPARATIVES) Unrestrlcted Restricted Funds Funds 2021 2021 Total Funds 2021 INCOME FROM: Donations 24,041 8,675 32.716 Charitable activities 385.833 485.050 870,883 Investment income 4,657 4,657 TOTAL INCOME 414.531 493,725 908 256 EXPENDITURE ON: Charitable activities 373,086 667.853 1.040,939 TOTAL EXPENDITURE 373 086 667 853 1040 939 Net income l (expenditure} for the year 41.445 {174,128) (132,683) Transfers between funds Net movement in funds 41.445 (174,128) {132,683) Total fund8 brought forward 584.482 592.998 1,177,480 Total funds ¢arried forward 625 927 418 870 1044 797 17

TOWERHAMLETS EDUCATIONBUSINESSPARTNERSHIP LIMITED Notes to the Financial Statements For the Year Ended 31 Au ust 2022 INCOME FROM DONATIONS UnrÈstrieltd Restrficted Funds Funds 2022 2022 Total 2022 Total 2021 Bluespark Foundation Co-op local community fund Coronavirus Job retention scheme grant East End Community Foundation Edge Brokers Ltd National Lottery Wogen Anniversary Trnst Other donations 1,499 1.499 652 17,584 2,323 5.700 2.900 3,661 3.000 2.900 3.661 3,000 17,992 3,000 3.457 TOTAL 18

TOWERHAMLETS EDUCATIONBUSINESSPARTISEKSHIP LIMITED Notes to the Financial Slalements For the Year Ended 31 Au ust 2022 INCOME FROVI CHAIUTABLE ACTlVtTIES Unrestricted Restrictsl Funds Fund5 2022 2022 Total Fllnds Total Funds 2021 2022 Acuris ADM Investor Seryices Ltd Allen & Overy Bank of England BarGlays BBC Children in Need Beazley Management Ltd Blackrock Inveslment Bloomberg Brilish and Foreign &hools Society Buzzacott Clifford Chance Clyde and {Co) Ltd Credit Suisse Foundation for Fiilur¢ London Herbert Smith Freehills ING J P Morgan KPMG Lloyds London Borough of Tower Hamlets London Enterprise Academy Man Group MorgaD Stanley & Co International PIC Mulbetry Stepney GreenMath4 Comwting and Science Colleg¢ Partners Group (UK) Ltd Rothschild SEIC St Paul's Way trust School Tolal carried forwArd 2.212 6,700 6.700 8.645 2.212 6,892 9.379 8,677 72.810 19.902 2,947 23.010 6,828 8,809 55,669 192 2,679 32 72.810 19.902 8,208 64 9,702 1.550 9.766 1,550 1,582 8.895 2,320 15,000 6.700 2,295 8.300 6.700 15.000 3.845 5.500 256 32 13,054 32 78,727 4,325 8.170 5,500 6.956 4,357 295.768 15,532 180.644 25,000 6,700 4.325 282,714 15.500 101.917 25.000 6,700 4,325 190,698 15.500 277,861 1.500 19.345 12,787 28,800 500 28,800 3,875 3,375 6,000 6.000 6,725 9.600 6,700 1,667 1,667 6,700 6.700 249,892 492,765 742.657 696,564 19

TOWER HAMLETS EDUCATIONBUSINESSPARTNERSHtP LIMITED Notes to the Financial Statements For the Year Ended 31 Au ust 2022 INCOi¥IE FROM CHARITABLE ACTlVtTtES continued Unrestrlcted Restricted Funds Fullds 2022 2022 Total Funds 2022 Total 'unds 2021 Brought forward Talbot Undenvriting Ltd The Edge Foundation Travers Smith Trowers & Hamlins UBS WorldPay 249,892 492.765 742,6S7 696,564 5,000 17.000 4,325 9.750 5,690 4.325 7.250 3.095 5,000 5,233 7,250 7,420 5,00 5.233 4,325 Oth¢rs 53.598 25.074 78.672 52,929 Service Level Agreemenl&." SLA - Primary SLA - Secondary 17,600 130,000 17.600 130.000 8.800 66,500 TOTAL 471,668 522 164 993 832 870 883 20

TOWERHAMLETS EDUCATIONBUSINESSPARTNERSHIP LIMITED Notes to the Financial Statements For the Year Ended 31 Au ust 2022 ANALYSIS OF EXPEYDITURE BAsi% of Chafrltabie Support lkKadon xttfvfities eosts Covernlnce costs Totwl 2022 Total 2021 Audit ftts Bad D&Jts Bank chwrges Bursaries paid CleAnin8 $uvi¢es CoDsuha Depreciation D￿¢¢1 p[oi￿ts ￿p¢ndItU In5Utance J hEa]th & safety IT & Telepborte costs Mark¢ting and w¢bsi development Other sundry ￿p¢￿seS Other govemall¢¢ Gosts PtiThiing. postage& slaknotjery Rent attd rates Slaff costs Di Direct s.000 208 s,000 441 204 34.170 9,129 4.657 10.554 196,262 3.870 56.422 18.7 18,700 3.783 13.5001 10,764 222.347 4.921 72.697 3.783 13.50D) 10.764 222.347 4.921 71697 Dite( DkrfKt 21.475 8.962 21,475 11,612 2,414 2.726 73.872 580.061 44.743 6J08 19,724 12.891 2.637 13 2,414 2,726 73.872 1.878 28.8(V) 16.308 1.199 57,217 574.339 45,677 9.624 Dircct Stafftime Ditwr 578,183 15.934 Traitsi￿ & recruitment 838.(K)9 240,195 68 1088572 1.040939 SupportW5ts Stsff 246.195 (246.195) GovernaNe costs Staff tm 4.368 (4.368) TotAI ¢iptDdltyr¢ 2022 72 1.088572 Total txp¢ndilure 2021 1.040.939 1040 939 Suppon ￿ 8ov¢nwi¢¢ Costs r¢ferto thecosts involv01 in oEtsatsoxwI *vity which supportthe delivery of the ch￿L1￿bk Jims. Thry aT¢ 8llocHtsI on the ba5Ks of prOj￿￿d spEnt bystsff on ¢¥h &cbvty. orth¢total ¢xp¢rtditur¢ £536J68 w&8 restricted (2021.. £667.853) aod £552.204 was Ullr&%trl￿ed (2021.. £373.086). 21

TOWERHAMLETS EDUCATIONBUSINESSPARTNERSHIP LIMITED Notes to the Financial Statements For the Year Ended 31 Au U5t 2022 NET INCOlv￿ I (EXPENDITURE) 2022 2021 This is stated after charging". Operating lease rezLtals on property Deprecialion of tangible fixed assets Auditors, remuneration - audit services 66,832 10,764 50.824 10,554 4,167 Duringthe year. no ttustets receivedany remuneration or any b¢nefits in kind (2021- Nil), and no tru51ce was reimbursed for expenses (2021- Nil). srAFF COSTS 2022 2021 Employee costs during the year amounted io: Salaries Social security costs Pension costs Health care costs 506.723 48,018 23,236 504,843 45,575 21,618 580 061 574 339 The number of employees whose total employee bth¢fits (excluding employer'spe￿lon costs) for the reporting period amounted to over £60.000 was a5 follows: 2022 No. 2021 No. £60,000 - £69,999 The average monthly numbers of employees during the year were 14 {2021.. 15). Th¢ total employee be￿rits including pe￿iOn contribution5 of the keYManagem¢ntpe￿nnel for the year were £173.086 (2021- £163.931). 22

I'OWERHAMLETS EDUCATIONBUSINESSPARTNERSHtP LIMITED Iyotes to the Financial Slatements Forthe Year Ended 31 Au ust 2022 TANGIBLE FIXED A&8ETS Fixtures Computer Fittings & Equipment Equipment Total COST At the beginning of the year Additions At the end of the year 64,151 10.919 75.070 42,112 106263 42.112 117,182 DEPRECIATION At the beginning of the year Charge for the year Ai the end of the year 39579 32,659 72,238 48.452 34.550 83,(N)2 NET BOOK VALUE At the end of the year 34,180 Ai the beginning of the year DEBTORS 2022 2021 Granls and contract debtors Prepayments Other debtors 190,157 10,511 45,057 14,932 217 130 76,659 10. CREDITORS.. Amounts falling due wiihin one year 2022 2021 Trade creditors Accruals Taxation and social security Deferred income Other creditors 19,226 5,000 12.250 263.794 5.070 27,868 13.077 449,737 308 671 501 930 23

TOWER HAMLETSEDUCATIONBUSLSESSPARTNERSHIP LIMITED Notes to the Financial Statements For the Year Ended 31 Au ust 2022 I I. ANALYSIS OF NET ASSETS BETWEEli FUNDS FOR THE YEAR ENDED31 AiIGugr 2022 Unrestricted Restrlcted Funds Funds 2022 2022 Total Funds 2022 Funds Balances at 31 August 2022 are represellted by: Tangible fixed assets Net current assets 34,180 534,017 34,180 950,730 416,713 Total Net Assets 568 197 416 713 984 910 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS FOR THE YEAR ENDED 31 AUGUST 2021 Unrestricted Restrlcted Fund5 Funds 2021 2021 Total Funds 2021 Funds BAlances at 31 August 2021 are represented by: Tangible fix¢d assets Net current assets 34,025 591,902 34.025 1,010.772 418,870 Total Net Assets 625 927 418 870 1044 797 24

TOWER HAMLETS EDUCATIONBUStNESSPARTNERSHIP LIIVIITED Notes lo the Financial Stalements For the Year Ended 31 Au ust 2022 13. MOVEMENT IN FUYDS FOR THE YEAR ENDED 31 AUGUST 2022 At the start of the year At the end of the year Income Expenditure Transfers Restricted funds: Become Mor¢- Aspiratiijns (Aim 2 Attain) Business menloring NNP-Curriculum Transitions project J P Morgall Project Total restrlcted fund5 99.294 26.810 295.576 238.745 29.759 (12.047) 6 288 256 609 418 870 522 164 (34.620) (238.851) 91,484 295.470 29,759 12,047 262 897 536 68 416 713 Unrestrlcled funds: General funds 625.927 506.521 (522.204) (12,047) 568.197 Total unrestricted funds 625 927 506 521 522 204 568 197 Total fund3 1.044 797 102 1 088 572 984 910 25

TOWERHAMLETS EDUCATION BUSINESS PARTNERSHIP LIMrfED Notes lo the Flnancial Statements For the Year Ended 31 Au ust 2022 14. MOVEMENT IN FUNDS FOR THE YEAR ENDED 31 AUGUST 2021 At the start of the year At the end of Ineome Expenditure Transfer5 the year Restricted funds: Become More - Aspirations (Aim 2 Attain) Business mentoring NNP-Curriculum Transitions project J P Morgan Project Miscellancous rcstrEcted donations Total restricted funds 104.350 353.721 29.759 (12,047) 117.215 180,344 79.109 226.249 (84,165) (284,394) 99,294 295.576 29.759 (12.047) 6,288 (291.271) 8.023 667 853 592 998 493 725 418 870 UnrÈstTi¢t¢d lunds: Desigoated funds= Aim 2 Attain Total designated funds General fullds iooooo i 00.000 loo 000 loo.000 484,482 414.531 (373.086) 525,927 Total unrestricted fullds 584,482 414 531 373 086 625 927 Total funds 1 177480 908 256 1040,939 1 044797 26

TOWERHAMLETS EDUCAIIONBUSINESSPARTNERSHIP LI￿TED Notes to the Financial Statements For the Year Ended 31 Au ust 2022 15. PURPOSE OF RESTRICTED FUNDS Aim 2 Attain Toprovide aportfolio ofaspiration andeducationalactivities forpre and post-16 students in Tower Hamlets, designed to encourage our young people to ci)nsider thechoice and Op￿rtUnitieS open to th¢m lo further their education and trainin Business Mentoring The Business Mentoring scheme aims to equip pupils with better understanding of Ca￿er opportniti¢4 developtheiremployabilityskillsand widffltheirview ofihe opN)rtunilies av?i]abk to them. East Potential ast Potential 1% a 3 year tri- borough prOj￿t fundedby J.P. Morgan. Tower Hamlets EBP is the lead partner working with fellow EBPS in Hackney andNewbam to target young people who at risk of being excluded from mainstrcam school ￿ndb￿0MIng NEET. Theprogramme adth&%8es employability skills alongside a range of issues affeding young people across East Londo￿ such as gang culture. conflict resolulionand making good life ehoice& Through workshops co¥hll and external activities, the aim is to ensureyoungpeoplego on to meaning￿1 post 16 paihways. TRANSFERS BETWEEN FUNDS Transfers ftom unrestrictedto restricted fi￿d5 represent incomplete recharge from restr￿1 fi￿11% in the previous years. 16. RECONCILIATION OF IYET INCOME I (EXPENDITURE) TO NET CASHFIDW FROM OPERATING ACTIVITIES 2022 2021 Net m0ven￿nt in fund$ for the reportin% period (as per the statement of finanefial activities) Depreciation Intcr¢st, rent and dividends fn)m investments (Increasey decrease in debtors Increasel (d¢crease) in creditors Net cash provided by l (used in) operating activities (59.887) {132.683) 10.764 (5,801) (140,471) 193 59 388 654 10,554 (4.657) 4,279 298 673 176 166 27

TOWERHAMLEIS EDUCATIONBUSINESSPARTNERSHIP LIMITED Notes to the Financial Statements For the Year Ended 31 A st 2022 17. AIYALYSIS OF CASH ALYD CASH EQUIVALENTS FOR THE YEAR ENDED31 AUGusr 2022 At the start of the year Atthe end of the year C4sh flow8 Cash at bank and in hand Total cash and cash equivalents 1436 043 1 436 043 393,772 393 772 1042 271 1042 271 18. ANALYSISOFCASH AND CASH EQU]VAL￿¥TSF0R THE YEAR ENDED31 AUGUST 2021 At the start of ihe year Cash l]ows At the end of the year Cash at bank and in hand Total cash and cash equivalenls 1259 620 1259 620 176,423 176 423 1,436,043 1,436,043 19. LEASE COMMITMENT The charitable company signd a 3_year leaseon officepremis&s in East London in August 2018. The minimum annual Tentals payable under the leases are as follows: 2022 2021 Within l year Within 2-5 years 71,463 76,463 147 926 66,463 147 926 214 389 20. RELATED PARTY TRANSACTIONS The Charity does not engage in relaledpaty trans7dions directly with its trustees. Some trnstKs are employed by Organi￿tionswh1eh give financial support lo the charity. The organisalions for which the ttuslees WO￿ are shown on page l. The ￿ndIllg provided is shown in Notes 3 and 4. 28