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 entitlen*nt 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.
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