2022-06-30-accounts

The Bromley by Bow Centre Report and financial statement

For the year ended 30th June 2022

Company number: 2942840 Charity number: 1041653

The Bromley by Bow Centre Contents

• 3 Trustees’ annual report

• A. Chair’s Introduction

• B. Strategy and Operations

• C. Structure, Governance and Management

• D. Principal Risks and Uncertainties

E. Review of Financial Position

• F. Statement of Responsibilities of the Trustees

• 46 Independent auditor’s report

• 50 Reference and administrative details

• 52 Statement of financial activities (incorporating income and expenditure account) 53 Balance sheet

• 54 Statement of cash flows

• 55 Notes to the financial statements

2

The Bromley by Bow Centre Trustees’ annual report

For the year ended 30 June 2022

The Trustees present their Report and Financial Statements for the year ended 30 June 2022.

A Overview

Chair’s Introduction

2022 marked my 11th year working with the Centre – and it has been the hardest I have known, both for our community and for the charity.

The 2021 accounts produced a surplus, despite the pandemic. Although we were planning for a level of unrestricted income which would ensure another surplus in 2022, the reality quickly proved to be very different. The levels of Government funding and potential grants from corporates, trusts and foundations have all become much more difficult to access post-pandemic.

Following the Chancellor’s recent Autumn Statement, the NCVO put out a hard-hitting statement, saying “that NCVO members have been asking themselves if we are letting government off the hook this winter, by stepping up and plugging the gaps in underfunded public services. Clearly charities are not going to walk away from communities at a time of need. But they cannot be taken for granted. NCVO members are making really tough decisions about what they can and cannot do. Many were forced to spend reserves to survive the pandemic and are now on the verge of buckling under the compounding pressures of increased demand, skyrocketing operational costs, eroding income, and challenges recruiting staff and volunteers.”

That statement by the NCVO absolutely sums up our experience. During the past financial year, the Centre has had to deal with an existential crisis – not acting would have resulted in the charity having to close down. As shown in the results for the year to June 2022, we experienced a deficit of more than £1/2million and had to increase borrowings to survive.

Fortunately, the charity has had the foresight to build up a property portfolio over the years, which is privately owned by the charity and put to use for the community. Having taken professional advice and weighed up all the options, the trustees decided to realise sufficient value from the sale of one asset, the health centre, to clear our debts and also undertake a significant organisational restructure, which began after the year end, in order to ensure continued sustainable service delivery to our community.

Interest in the health centre was received from all the credible players in the healthcare market and some other potential investors; fortunately, the most attractive financial offer also happened to come from a buyer specialising in owning and managing healthcare buildings across the NHS and which is very sympathetic to our community health model. Working with partners like the GPs – and continuity of service provision for our community in the short, medium and long term - have been the prime consideration for the trustees in guiding decision-making.

Since the financial year end, having realised cash from the sale of the health centre, we’ve cleared debts, which will save significant interest and repayment obligations, and we have net cash for the first time in years as shown in the pro forma balance sheet as follows:

3

The Bromley by Bow Centre

Trustees’ annual report

For the year ended 30 June 2022

Balance sheet (Pro forma and unaudited as at 30 June 2022)

As at 30 June 2022
Fixed assets: Current assets: Debtors Cash at bank and in hand Current liabilities Net current (liabilities)/assets Total assets less current liabilities Creditors: amounts falling due after one year Total net assets The funds of the charity: Restricted income funds Designated funds General funds Total charity funds	Audited Balance Sheet Impact of sale of Health Centre Adjusted Balance Sheet £'000 £'000 £'000 £'000 £'000 £'000 2,474 (721) 1,753 418 - 418 709 2,021 2,730 1,127 2,021 3,148 (2,002) 1,073 (929) (875) 3,094 2,219 1,599 2,373 3,972 (660) 360 (300) 939 2,733 3,672 - - - 13 - 13 926 2,733 3,659 939 2,733 3,672

The pro forma balance sheet shows the audited balance sheet as at 30 June 2022, the impact of the sale of the Health Centre and the last column an adjusted and unaudited balance sheet. The sale of the asset results in a reduction in fixed assets and a net cash receipt after repaying short and long term liabilities.

This gives the Centre a small buffer to face an uncertain future, in which the only certainty is that the need for our services is increasing and the funding to pay for those services is tightening. Despite those twin challenges, we do have a plan and we have more confidence in the charity’s future and ability to provide what our community needs than at any time in recent years.

In this report we acknowledge the vital support we receive from our funders and partners. This support is increasingly important at this time, as our work becomes more vital and the pressure on funding remains very difficult.

I’d like to express thanks to all our people and our trustees, who contributed their time and expertise tirelessly during this crisis. And I want to thank Professor Ajit Lalvani, who for the past 8 years has been our Chair. Ajit is one of the world’s leading experts on respiratory diseases and so Covid has been a major focus of his time since the pandemic started. Over the summer he asked to stand down as Chair – I am delighted to be able to confirm that he does remain a trustee though – and the other trustees asked me to take on the role on an interim basis. The trustees are conscious that a lot of recent attention has been inwardly-focused – largely by necessity given the existential crisis I mentioned. We will now engage more directly again with our members and the community.

Over the years we have been fortunate to have trustees, who may not now live in the local area, but who are very familiar with the needs of East London and have served our communities faithfully over many years. Prior to the pandemic we always had two or three active trustees who lived locally, most recently three long-serving local trustees: Marcia Maximin, Monjur Ali and Zenith Rahman – who is also a founding member of the Centre. For different reasons, all have left the board in the past couple of years and we need to address that.

4

The Bromley by Bow Centre Trustees’ annual report

For the year ended 30 June 2022

It is the trustees’ responsibility to identify and co-opt new board members and they are then approved at the AGM. By next summer, we expect to have significantly augmented the board. There will be a review looking at our trustees’ skills; at what is going to be needed for the next few years; and addressing the ideal board composition. During Q2 2023 we expect to be in position to have an open recruitment process with a clear view of the skills and cultural requirements, with a local lens applied when choosing between candidates. As part of that review, the trustees will also appoint a new permanent chair.

Finally, I also want to thank Rob Trimble for his incredible leadership and achievements over the 20 years he has been CEO. Rob embodies the spirit of the Centre and his positivity and passion for what we do is infectious. Rob and I are working with Elly De Decker during the planned transition period to his retirement as CEO in December and I wish Elly every success as she takes up the reins in January 2023.

Simon Bevan Interim Chair

5

Welcome to our Annual Review

In some ways, this year has been no different in the way we have worked with compassion and determination to maintain quality services. However, our activity was delivered within a highly challenging economic environment, both for our charity and for local people.

Everything achieved in this report was made possible by our extraordinary staff, volunteers, local residents, partners and funders; all working together and striving to go above, and beyond, expectations.

A year in view

Our approach became more relevant than ever

Our approach means we address crisis needs first, then empower people to build skills and confidence, find opportunities, make friends and effect positive change.

Our charity, in partnership with the NHS-funded Bromley by Bow Health Partnership, works to deliver a multi-disciplinary, personcentred approach that helps address interrelated financial, social and health problems.

The Covid-19 pandemic highlighted how crucial our long established, embedded local charity is with its broad range of targeted support. Being there for local people at our Centre, day-in, day-out, is what we have always done best.

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Participants at a theatre workshop with
Chickenshed.
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This year has been difficult for our community

As we emerged from the COVID-19 pandemic, the cost of living and energy crises began. Pre-existing societal pressures have become worse. Widening wealth and health inequalities are being felt intensely by those on the lowest incomes.

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Residents express their concerns at a community event
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Our diverse local neighbourhoods contain so much potential but they also have the odds stacked against them. The borough of Tower Hamlets has high levels of deprivation, housing costs and overcrowding, leading to an inevitable rise in social isolation, mental and physical ill health. Within this context, we work day-in, day-out to provide practical and emotional support.

Together, we stepped up to the challenge

Local people worked with us to jointly develop services and activities important to themselves and others. Many volunteered to start neighbourhood groups and enterprises to build local capacity. Group sessions expanded and isolated people continued to flourish at activities in our warm, welcoming community hub.

Demand increased significantly; particularly for emergency support, food and advice. Our advice teams worked tirelessly as complex casework increased by 44% and problems were compounded for many individuals and their families.

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and their families.
A workshop teaching local
people how to save energy
06 | Annual Review 2022
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Outdoor Zumba session run by one of our link workers
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There has been joy in togetherness

We welcomed hundreds of local people back to the Centre for community events. People were longing to connect again after two difficult years of lockdowns and health challenges. Everyone was keen to have conversations, find out what was happening and receive down-to-earth advice.

A community wellbeing week in Spring brought people out after the long winter, 160 people attended a vibrant voting day where community-run health and wellbeing initiatives received funding. The energy and joy at our Summer of Wellbeing Festival was appreciated by over 500 adults and children. See us on BBC London News

Funding has been our greatest challenge

“I support the incredible work the Centre does because it fills me with hope. Together, with the community, they focus on creating healthy humans and healthy places.” Donor

The Bromley by Bow Centre charity is not centrally supported by the NHS or the Government; each vital service has to be individually funded. Available funding shrunk significantly this year and Covid-19 produced a financial cliff-edge effect for many charities. This has inevitably resulted in a loss of income, whilst demand for our support continues to grow.

Our forward strategy is now one of consolidation and strengthening of the charity for the future. We are using some of our assets to provide financial stability in the short-term. An organisational review is ensuring we maximise impact, reduce costs through increased efficiency and maintain a strong and balanced funding portfolio.

We are strong and optimistic about the future

We remain convinced that meaningful change will be driven by communities – and we are here to enable ours. We have been so since 1985, as part of our steadfast, long-term aims, working to empower local people.

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Everything we do highlights
how social factors are crucial in
determining good health outcomes.
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Our outcomes framework measures the difference our support makes. We are combining our important assets - people, local connections, data and money - in new ways. We are optimistic that funding organisations will further support our enduring approach knowing that investment creates far-reaching, exponential value.

This report covers our financial year July 2021 – June 2022

Service Delivery Preview July 2021- June 2022

Our first responder team had 3,239 interactions with individuals and families, many in crisis requiring skilled support and rapid triage.

Our social welfare advice team managed a increase in complex casework 44% as people’s needs become more urgent and multifaceted.

Our advice team prevented 206 evictions. This is increase this year, 23% directly benefitting well over a thousand people.

Our energy advice team supported over 2,800 individuals this year, an increase of 109%

Bow Foodbank on site supported an average of 560 adults and 502 children per week. had never used a food bank before. 21%

of people referred with mental health issues engaged with our specialist social 93% prescribing service and attended a total of 553 link worker support sessions.

60% of people who engaged in our employment programme for people with disabilities achieved sustained employment.

people engaged in our ESOL programme gaining English skills 468 with many going on to achieve qualifications.

We engaged over local people in a variety of community building activities and events. 2,630

hours of structured support were provided to people with disabilities by our social care team. 8,795

08 | Annual Review 2022

About us

Who we are

The Bromley by Bow Centre is a grass-roots charity, a vibrant hub embedded in a diverse community in Tower Hamlets, East London. We exist to empower some of the most vulnerable individuals and families in one of London’s most challenging boroughs. From support with bills, building long-term financial resilience, improving emotional or physical health or gaining skills and qualifications to access employment, we are here.

We offer a safe, welcoming, green space at the heart of the community: a place where everyone is welcome and can just be, meet and make friends, access the support they need or have a cup of tea.

The Bromley by Bow model

The Centre, with its charitable activities, works jointly with local NHS health services to tackle high levels of health inequalities in our community. This is because we know that health is primarily driven by social and economic factors. In everything we do together, we seek to inspire people and support them to build capacity and enterprise for their neighbourhoods, developing a sense of purpose and achievement and fostering a culture of community activism. We help make local change happen and give people hope for a positive future.

We call this the Bromley by Bow Centre Model, delivered in partnership with local people, community organisations and with the NHS-funded Bromley by Bow Health Partnership and other local health centres, serving over 50,000 patients.

The Bromley by Bow Centre charity - in a nutshell

1. We are a local charity based in the East London borough of Tower Hamlets

2. We are situated in green space maintained for, and by, local people

3. Our staff and volunteers are crucial to the quality of what we do

4. We offer holistic and integrated support across health and wellbeing

5. We engage with the local community and build strong relationships 6. And offer tailored services and crisis support to those who need it

7. The community’s voice is at the heart of everything we do

8. Our ethos is one of empowerment and building community capacity

9. We work to build strong partnerships whenever we can

10. We seek to learn from what we and others do and share that learning

Basic needs

Food Bank

Welfare benefits advice Money management Energy advice

Health

Physical and mental health

Preventative approaches

Connections

Engagement

Arts, physical activities and horticulture Volunteering

Basic skills

English as second language Digital inclusion

Employment

Job-seeking support Social enterprise incubation

o10 | Impact in brief

Our local area

The Bromley by Bow Centre operates in the fastest growing borough in London. Tower Hamlets is rich in cultures, languages and ethnicities, living harmoniously in a way that many world cities envy. Social enterprise, creativity and the arts are predominant. The area also has high levels of deprivation, excessive housing costs and chronic overcrowding. Prevalence of mental health issues and loneliness are inextricably linked to growing deprivation.

At 44% Tower Hamlets has England’s highest deprivation rate of residents aged over 60, and a prevalence of social isolation and mental ill health.

56% of our youngest residents experience child poverty . Over 25% of children at year 6 are overweight or obese.

Unemployment rates double that

of London and the national average are regularly experienced in our neighbourhoods.

19% of Tower Hamlets adults suffer long-term physical and mental ill-health with a strong link to social and economic factors.

The Centre’s green space provides recreational space for local families and horticultural plots for community groups to build skills.

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An aerial view of the Centre as
a green oasis taken from a City
Airport flight.
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IMD 2019 Income Deprivation Affecting Older People https://assets.publishing.service.gov.uk/government/uploads/ system/uploads/attachment_data/file/835115/IoD2019_Statistical_Release.pdf

https://democracy.towerhamlets.gov.uk/mgConvert2PDF.aspx?ID=191230#:~:text=Poverty%20in%20Tower%20 Hamlets,-3.&text=Once%20housing%20costs%20are%20taken,4. With housing costs taken into account. Monthly ONS claimant data on Nomis for local wards 2022

https://www.towerhamlets.gov.uk/Documents/Borough_statistics/Research-briefings/BoroughProfileHealth.pptx https://fingertips.phe.org.uk/static-reports/health-profiles/2019/e09000030.html?area-name=tower%20hamlets

Building Community

413 adults attended our Summer Festival of Wellbeing, bringing 220 children.

17 community-generated groups and 4 social enterprise businesses have been incubated this year

500 local people became involved in community research projects

o12 | Impact in brief

Measuring our impact

A jointly-owned community outcomes framework

Our community-informed outcomes framework was developed with leading research partners and with local people. The framework measures the difference our support makes and has six broad outcomes with a range of domains and indicators. All of our work is targeted at one or more of these outcomes.

We employ a series of methods to monitor and measure impact, comparative qualitative and quantitative data before and after interventions to determine progress.

Six outcome measures Six evaluation principles

1. Basic needs met 1. We value each person 2. Strengthened personal resources 2. We use inclusive methods 3. Connected to others 3. We pay attention to how we work 4. Built knowledge, skills and opportunity 4. We make evaluation feel natural 5. Connected to place and community 5. We use our knowledge to learn 6. Contributed to the community 6. We are consistent and rigorous

Impact case study: Energy support (Empower You Too)

This energy scheme demonstrates the application of our outcomes framework. The service provided three strands of support: to individuals, groups and networks. One-to-one appointments, workshops and six-week Energy Champion training were all supplemented by training and resources to build community capacity.

Over 1,750 unique households were provided with energy advice. The majority of people were in receipt of a state benefit and the main ethnicity was Bangladeshi.

At the start of engagement, only 14% of people agreed that they had enough money to pay their bills.

The project activities worked towards three aims for individuals by the end of the programme:

• Meeting basic needs: 55% of project participants (n=174) agreed that their finances were more under control as a result of the project.

• Building knowledge and skills: 75% of participants (n=174) agreed that they now knew how to get the support they needed.

• Taking action for themselves and others: 85% of participants surveyed (n=155) agreed that they had used the new knowledge they had gained to improve their day to day life. Strengthened personal resources/connected to others.

n= Total number in sample

3,560 unique individuals enrolled for services at the Centre during the year, exceeding pre-pandemic levels.

Many people visited our café and park every week, some with their families, others experiencing isolation and seeking human connection.

Our services were delivered by 71 employees and 72 volunteers.

01 4 | Annual Review 2022

Our Services

The work we do:

• The following pages detail the many services we have provided this year.

• Each service at the Centre works towards positive outcomes for local people.

• .

• These are shown individually but they work in a joined-up and holistic way

Measuring outcomes:

• The colour coding on each page indicates the most relevant outcomes indicators.

• We show broad outcomes indicators here but our work is complex and nuanced .

• There are many supplementary and intangible outcomes from the work we do.

Measuring the difference we make:

1. Basic needs met

2. Strengthened personal resources

3. Connected to others

4. Built knowledge, skills and opportunity

5. Connected to place and community

6. Contributed to the community

01 5 | www.bbbc.org.uk

Needs met Knowledge

Advice Services

Social Welfare Advice

This year, more residents were under increased pressure trying to pay their bills, faced with an impossible choice of putting food on the table or paying housing costs. Many of those unable to pay rent, faced eviction and homelessness.

Through one-to-one, free, independent and confidential advice on welfare benefits, housing, debt and utilities, we were able to maximise people’s income and reduce debt levels. Our team helped sustain tenancies, prevent homelessness, set up payment plans for rent arrears, provide money management, budgeting and digital support.

A 44% increase in complex cases was managed and 23% more evictions were prevented this year

Social Welfare Advice

Number of people supported 2,776 Total number of advice sessions, in person and remote support 4,586 Total number of matters managed 3,869

Total people requiring complex casework support 722 Number of evictions prevented 206

Income maximisation, backdated awards and debt written off £1,297,260

Needs met Strength Knowledge

Energy Advice

The energy crisis has put extra pressure on vulnerable residents with low incomes. Many faced difficulty trying to keep pace with energy bills, trying to understand what help and support they could access.

Our energy advice team provided face-to-face and virtual appointments to help reduce debt, maximise income, reduce fuel poverty and improve energy efficiency. Energy workshops were rolled out and we trained 60 Volunteer Energy Champions to build knowledge and expertise to share within their own communities.

The number of people supported increased by 109%

Energy Advice

Number of clients supported (average 2 sessions) 2,809 Annual gain in income; awards, debt written off, switching and challenging bills £1,128,739 Number of people attending 81 energy workshops 746

Number of Energy Champions trained to Level 1 qualification 60 Total people supported with fuel vouchers 1,300 Number of fuel vouchers issued 1,613 Total value of fuel vouchers £80,000

Gerard’s story Coming back to the light after a difficult period Click here to read Gerard’s story

01 7 | www.bbbc.org.uk

Needs met

Bow Foodbank

Throughout the year, we provided a home for this essential community partner, an independent foodbank charity that has served the local community since 2014, utilising around 200 volunteers. This partnership has presented important opportunities for linking foodbank attendees into support services such as advice, employment and learning classes.

20.9% of visitors this year attended a food bank for the first time.

Bow Foodbank

How we’ve responded Average number of people supported weekly 560 adults and 502 children The highest number of people in one week 905 adults representing 865 children People attending for the first time 2,957 adults representing 5,358 children

Strength Knowledge

Employability, Enterprise and Learning

Employability Support for people with disabilities

Our employability team supports people through the process of finding work and taking next steps on their career path. This includes, creating a competitive CV, making applications, building confidence, and developing presentation and interview skills.

During the year, the team, funded by Ingeus and working in partnership with Job Centre Plus, supported candidates who experience physical and mental ill health to find work. Individuals were provided with tailored support and guidance and this resulted in a high percentage of people achieving sustained employment.

60% of people registered gained sustained employment.

How we’ve responded Employability Support (people with disabilities)

Number of people registered 79 People given employability support 65 Those securing work or volunteering 56

Total people in sustained employment, minimum six months 47

Strength Connection Knowledge Community

Creative skills courses

This programme builds knowledge, skills and opportunities in the creative industries. Well-attended creative skills sessions and employability workshops were delivered with a number of creative and arts partners. Creative activities included mosaics, stitching and the cultural art of embroidery; willow weaving, photography, copper foil plating and glass skills.

Programme highlights include Traces – Stories of Migration in collaboration with the London College of Fashion and Making for Change, techniques to create a story cloth. A partnership with theatre company Chickenshed delivered participatory drama and theatre art sessions. Watch the video on page 26.

112 people achieved specific, positive outcomes (see bottom of page)

Creative Skills

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Total number of individuals enrolled 121
112
Number of people achieving specific, positive outcomes []
Number of sessions run 95
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Martin’s story
From a low place to firing on all cylinders
Click here to read Martin’s story
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*Outcomes include: volunteering: 33, secured employment: 21, arts work placement:10, further training: 22, arts-specific training: 26. One participant achieved a BTEC Level 3 Diploma in Performing Arts Practice

Strength Connection Knowledge

Arts, sports and skills for 10-21 year-olds

Sports activities and martial arts sessions started in September 2021 with our community partner, Spotlight. The sessions averaged 20 to 25 attendees each week. Other activities included archery lessons, table tennis and pool to build ability, confidence and social networks. The programme also delivered creative arts sessions and co-produced a range of excursions for young people and their families, supported by volunteers.

A leadership programme was delivered that focused on employability skills, confidence, motivation and inspire sessions. Young people were supported by a mentoring scheme.

186 young people attended 46 skills sessions to build skills, confidence and connection.

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Yasin’s story
A young person with a bright future,
building his skills and experience
Click here to read Yasin’s story
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Strength Connection Knowledge Community

English for Speakers of Other Languages (ESOL)

ESOL courses are designed to give local residents the English skills they need to participate in everyday life, build confidence and grow their social networks.

140 of the 350 informal participants this year were engaged on the ESOL for Integration Fund Summer Programme (EFIF). The project attracted a broad range of participants through innovative approaches. 55 different ‘English sessions’ were offered; including singing, opera workshops in partnership with English National Opera, digital and conversation sessions, arts and crafts, sport sessions and trips.

86% of all those entered for ESOL exams achieved an accreditation.

English for speakers of other languages

Number of people engaged on our programme 468 Total learners on the ESOL for Integration informal programme 350 Number of people prepared for exams 114

Over a third of our local residents use a main language other than English, compared with 8% nationally.

Total reading, writing, speaking and listening accreditations 71 Pass rate 86%

Digital Inclusion

In Partnership with JP Morgan, we supported 70 clients at risk of digital poverty. They were given digital skills sessions and each participant of the programme, ‘Everyone connected,’ received a computer tablet to use at home.

As part of National Databank via The Good Things Foundation, the team was able to provide SIM cards with free access to the internet to five of our ESOL learners who were unable to get online.

70 computer tablets were provided to digitally excluded individuals and families.

0 22 | Annual Review 2022

Strength Knowledge Contribution

Social enterprise incubation – Beyond Business

Our award-winning enterprise programme, Beyond Business is funded by Investec and assists emerging social enterprises in East London. Successful applicants receive funding, training and support to help launch their businesses.

Since 2011, 55 new social enterprises in Hackney, Tower Hamlets and Newham have been supported. Four winners emerged this year from the comprehensive selection process. Each business is focusing on a different social outcome. We continued to work with alumni, supporting them through the issues they face as a consequence of the pandemic.

Four new social enterprises were supported this year making a total of 55 businesses launched[*] .

Samreen’s story An entrepreneur building a business with a sustainable vision Click here to read Samreen’s story

2021 – 2022 Social Enterprises launched

Aberfeldy Boxing Club https:// aberfeldyboxingclub.co.uk/

A socially-conscious club using volunteers to run boxing classes for people of all ages, genders and disabilities. The club has set up a thriving anti knife crime initiative.

CND Studio https://www.cnds.studio/

The UKs first natural dye studio promotes the sustainable practices of plant and food-waste based dye for textiles that can be used across the spectrum of design.

Vita Bites https://www.vitabites.org.uk/ Nutritious, protein-dense Vita Bites are handmade by volunteers. The energy balls are a temporary meal substitute for homeless people, vulnerable families and households, who are experiencing food poverty.

In-use www.inuse.org

An eco-friendly design studio that upcycles packaging waste into filaments for sustainable 3D print services. Their clean technology products are socially beneficial and safe for the environment.

*Since Investec Beyond Business formed in 2011. Over 100 businesses have been incubated in the Centre’s history.

Needs met Connection Knowledge Community

Integrated Health and Wellbeing

Our first responders

Engaging with our ‘welcome hub’ team is often the first interaction people have with the Centre. They provide a vital service; helping many people in crisis and referring them to timely, appropriate support. Most common issues presented this year were financial and housing concerns, rising energy bills and low levels of English.

The first responder team maintains strong links with local community organisations. They lead on information and outreach for local services and on joint health initiatives with Bromley by Bow Health Partnership. The team runs many resident-led activities, connecting people with others and inspiring them to fulfil their potential.

367 people attended new group sessions introduced in the welcome hub this year.

First responders – Our Welcome Hub

Total people interacting with the first responder team 3,239 Total number of calls logged and managed 1,547 Total number of in-person visits managed 1,692 Total number of onward referrals 2,093 Group sessions; arts, social, walking, mindfulness and LGBTQIA+ 65

Needs met Strength Connection Knowledge Community

Social prescribing

The Centre’s social prescribing team works in close liaison with community organisations and local NHS health care practices who refer patients. The skilled link workers provide personcentred support, giving people time to talk. Individuals are supported to access appropriate services within the Centre and across East London.

The social prescribing link workers participate in our many knowledge-share events and activities. Interest continues to grow in the Centre’s integrated health approach and reputation as a leader in social prescribing, gained over multiple decades of practical application.

895 people were supported by the Centre’s core social prescribing team.

Social Prescribing Service

Number of people supported 895

Total number of onward referrals and signposts 970

Number of community services referred to 53

Average attendance at quarterly E3 community networking events 18

Needs met Strength Connection Knowledge

Social prescribing for mental health

This expansion of the Centre’s social prescribing service, supported by East London NHS Foundation Trust, creates specialist link workers who provide social prescribing support to people coping with mental ill health.

A series of support activities were introduced. This includes a monthly mental health group with Tower Hamlets Talking Therapies, a weekly LGBTQIA+ support group and regular Zumba exercise classes for wellbeing, fun and connection. The service was featured on BBC London News in March 2022.

161 people were given 553 one-to-one sessions to improve their mental health.

Social Prescribing for Mental Health (ELFT)

Number of people referred 173 Number of people supported 161 Individual specialist link worker 1-2-1 sessions provided 553 Onward referrals and signposts to community services 344 People engaged with monthly mental health group workshops[] 25 Number of LGBTQIA+ group sessions delivered 24*

*With Tower Hamlets Talking Therapies

Read an interview with our specialist social prescribers www.bbbc.org.uk/news/talkingabout-mental-health/

Social prescribing service innovations

Shahanaz’s story A specialist Social Prescribing Advice Link Worker providing vital support Click here to read Shahanaz’s story

1. A dedicated Social Prescribing Advice Link Worker was introduced this year focusing on issues around debt, housing, benefits and energy and the complex issues underpinning many of these problems.

2. A social prescribing pilot with young people took place to improve mental wellbeing, remove stigma and create a space to speak openly about anxiety, exam stress, self-harm, bullying, self-worth, suicidal ideation and abuse

3. Four E3 Networking Breakfast events were run to facilitate joint working with local community organisations across two primary care networks. Attendance averaged 18-30 local attendees.

4. A Fruit & Veg on prescription pilot with Alexandra Rose Charity was set up for low income households. Vouchers and lifestyle support is delivered via social prescribing so each person’s holistic needs can be fully assessed[*]

*Project starts in the next financial year July 2022 – June 2023

Strength Connection Community Contribution

Community development and capacity-building

Working with our charity and Bromley by Bow Health Partnership, the population health team is located in local health centres, facilitating community-building events and activities. At community events, 70 parents helped identified priorities for joint working to make the area better for families; activities, safety and mental health. A community leadership, professional training programme was introduced to 74 people.

160 people attended a vibrant community voting day in May where 17 local projects pitched for, and received, funding. 17 local people volunteered to develop and run these community health and wellbeing initiatives to benefit over 200 people in six-months.

2,630 people engaged with outreach and events to help build community-run services.

Community Development

Number of people engaged during outreach and events 2,630 Total number of volunteering hours offered 302

Local projects receiving funding and incubation support 17 People attending regular sessions 50 New leaders identified and undergoing development 17 Number of people trained 74

Carol’s story A volunteer helping to unleash the power of community Click here to read Carol’s story

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02 8 | Annual Review 2022
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Strength Connection Knowledge Contribution

Sports and physical activities

These programmes enabled us to reach residents of all ages and to develop beneficial partnerships. Active IQ Influencing Health and Wellbeing training was provided for individuals and for young people, aged 16-21 to build fitness, skills and confidence. Funding from East London Foundation NHS Trust (EFLT) was extended by a year as a result of a successful training pilot programme.

Active Together was the first delivery of a project specific to families being active together. Engaging activities were delivered that encouraged collaborative physical exercise using the local environment.

ELFT training funding was extended for 12 months due to a successful pilot programme.

Sports and Physical Activities

Individuals trained and awarded a qualification[] (ELFT) 26 (28 completed) Young people trained and awarded a qualification[] (GLA) 20 (June to Dec 2021) Families participating in Active Together (Sport England) 39

*Active IQ Level 1 qualification in influencing health and wellbeing

Connection Knowledge Community Contribution

Arts and horticulture

Engagement with the arts is central to our work at the Bromley by Bow Centre. Arts activities, classes and workshops form the basis of many services in this report. Four resident artists delivered sessions covering pottery, mosaics, textiles, stained glass and stone carving. These projects with local people helped address issues such as mental ill health and social isolation. 11 different community art exhibitions were curated on site.

Twice weekly horticulture groups have helped participants to enjoy the outdoors, build skills, connect with others and contribute to the environment they enjoy in the Centre’s park.

321 multi-hour arts classes were held for the community by our resident artists.

96 horticulture group sessions were held throughout the year.

A video output from our collaboration with Chickenshed Theatre can be seen here.

Tracey’s story An inspiring person transforming her life Click here to read Tracey’s story

Needs met Connection Knowledge Community

Community Social Care

Adults and 50 plus

The Centre’s adult social care service provides a personalised programme of activities, supporting people with a range of learning, physical and complex needs to live as independently as possible. The service is commissioned as part of the new Tower Hamlets learning disabilities activities framework.

Service delivery was supplemented with non-statutory funding to support local adults over 50. This enabled the social care team to introduce cook and company sessions, games, Pilates and other social activities. An exciting partnership with theatre company Chickenshed delivered participatory drama sessions (see video link on page 25)

8,795 hours of structured support were delivered to 23 regular participants.

Knowledge Community

Research and Knowledge Share

Bromley by Bow Insights successfully delivered activities across its three areas of work; research and evaluation, support for on-going development of the Bromley by Bow model and sharing and exchanging knowledge with others.

The Insights research and evaluation team made considerable progress with the development of our outcomes measurement framework and carried out a number significant community research projects, informing local priorities.

The demand for in-person study visits returned, complementing the virtual programme, with considerable interest in the development of collaborative networks to support health and wellbeing in communities in the face of the cost of living crisis.

In 2022, Insights supported the development of a number of health and wellbeing hubs, including plans for the development of four substantial new ones in London and the South East.

2,056 people attended in-person and online knowledge-share activities.

Sharing our knowledge (Bromley by Bow Insights)

In-person knowledge-share events run 28 Attendees at in-person knowledge share events and workshops 531 Number of on-line knowledge share events, webinars and workshops 29

Attendees at on-line knowledge-share events 1,525 Number of social prescribing link workers studying modules and units 502 Number of training modules and units delivered 26

Number of advisory groups we participated in 14

Community Research

Community research projects this year included, Space for Children’s Wellbeing, What makes the best start in life for children in Tower Hamlets in 2022, COVID-19 and Long Term Health Conditions: Interaction with Ethnicity and Migration Insights and Peer Support Research.

Community Research

Comprehensive community research projects completed 3 Major co-production projects completed 3 Organisation-wide research events held 2 Co-production workshops, celebrations, training and family sessions 37 Parent Power co-produced community magazine printed and distributed 1,750 Total community members participated in research activities and events 500 Project evaluations (including one participatory) 3

The Bromley by Bow Centre Trustees’ annual report

For the year ended 30 June 2022

C Structure, Governance and Management

The Bromley by Bow Centre is a registered charity (number 1041653) and is constituted as a company registered in England & Wales (number 2942840) and limited by guarantee. Its objects and powers are set out in its Memorandum and Articles of Association which were adopted in 1994. The Articles of Association were last updated at the Annual General Meeting held on 17 September 2020.

Public Benefit and Objects

The objects of the charity, as set out in the Articles of Association, state that “The Centre’s objects are to promote the benefit of the inhabitants of East London and surrounding areas either alone or by associating together the inhabitants and the local authorities, voluntary and other organisations to advance education, protect and preserve health, relieve poverty, sickness and distress and provide recreational facilities and any such charitable purposes as the trustees shall from time to time decide.”

We have referred to the Charity Commission’s guidance on Public Benefit (PB1) and concluded that the stated objects and the activities of the Centre are beneficial in a way that is identifiable and are of benefit to a sufficient section of the public. This Annual Report explains how the Centre has carried out the charity’s objects in accordance with the guidance on reporting (PB3).

Trustees and their responsibilities

The governing body is the Board of Trustees (“Board”) whose members are elected by the charity’s membership at the Annual General Meeting and are directors for the purpose of company law and trustees for the purpose of charity law. In this report, they are referred to as trustees, to distinguish them from Executive Leadership Group ("ELG") members who are also referred to as directors on page 38 but are not Directors as defined in Company Law. The Board met seven times during the 12 months to June 2022. Members of the ELG are invited to attend all Board meetings and the annual general meeting.

The Board comprises a minimum of six and maximum of 15 Trustees and is currently at a level which the Board feels is adequate. The number of seats on the Board available to Nominees was increased to four at the AGM on 17 September 2020. There are currently 9 members of the Board. Trustees serve an initial term of three years and can be elected for a maximum of 12 years. In August 2022, Ajit Lalvani stepped down as Chair and the Treasurer, Simon Bevan was appointed Chair on an interim basis. The position of Vice Chair, which had been previously occupied by David Smeed, became redundant with this change in Chair, and David took on the place of Treasurer in place of Simon.

The principal responsibilities of the trustees, as set out in the Statement of Reserved Powers and Delegated Authorities policy, are listed below.

• Oversight of the charity, including control and accountability systems

• Appointing and removing the Chief Executive and establishing their remuneration package

• Contributing to and final approval of vision, mission and values statements

• Contributing to and final approval of the budget and business plan and associated performance objectives

• Contributing to and final approval of the Strategic Plan and associated performance measures

• Implementation of strategy and ensuring appropriate resources are available

• Reviewing and ratifying policies for reserves, risk management and investment

• Reviewing and ratifying leases and matters relating to property holdings

• Monitoring risk management and internal compliance and control systems and assessments

• Monitoring the performance of the Chief Executive and the Executive Leadership Group

• Approving the authorisation structure applicable to capital expenditure and operational commitments

• Approving and monitoring the progress of high risk projects

• Overall governance of the charity

• Approving and monitoring financial and other reporting

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The Bromley by Bow Centre Trustees’ annual report

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• Appointment of bankers and auditors

• Mergers and acquisitions along with major external collaborations

• Legal claims

The Board has developed a skills and diversity matrix which analyses the Board’s composition and also helps identify prospective trustees. The key areas of skill and diversity which have been identified are listed below.

• Sector experience (private, public, third or multiple sectors)

• Gender / ethnicity / culture

• Skills / experience:

• Church-related and faith-related matters

• Creative sector

• Education

• Finance

• Fundraising

• General management and business

• Health

• HR management and coaching

• Insurance

• Legal

• Local knowledge and partnerships

• Marketing and communications

• Property

• Service delivery

• Technology

• The arts

• Third sector and social enterprise

• Youth

Trustee Training

A structured induction programme has been in place for new trustees supplemented by ad hoc support from the Chair, Vice-Chair and the ELG with external training opportunities provided if appropriate. The Trustee Induction programme will be reviewed and improved at the time when a new Trustee is next appointed.

The Board arranged Back to the Floor days for Trustees which had been paused during the pandemic. The purpose of these sessions was to give trustees hands-on experience of the Centre's work, covering a range of the programmes delivered. In the absence of these sessions this year, individual senior managers have been invited to join regular Board meetings to discuss the projects that they are working on and answer questions from the Trustees. For the annual Board Strategy session, several senior managers recorded a summary of their areas of responsibilities before the meeting and answered questions from Trustees on these.

Trustee Biographies

Simon Bevan is executive Chair of Unifrutti Group, a Trustee of the Churchill Fellowship and Head of Partner Matters at Grant Thornton UK LLP. Simon is a qualified coach and has over three decades’ experience of auditing, and working with the stakeholders of, successful high growth businesses, especially in the professional services sector. He has been a partner and held senior leadership and governance roles in two large accounting firms and therefore brings finance, leadership and governance experience to his role with the Board. Simon became a Trustee on 30 November 2011 and was Treasurer until becoming Interim Chair in August 2022. Until becoming interim Chair; Simon was a member of BENSC and chaired the FSC; he remains a member of the latter committee.

Paul Brickell trained as a scientist and was Professor of Molecular Haematology at the Institute of Child Health at Great Ormond Street Hospital, University College London, where he ran a childhood cancer research

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The Bromley by Bow Centre Trustees’ annual report

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department. He changed career to focus on the revival of east London, first as Director of Regeneration and Chief Executive of the Centre and then as Chief Executive of Leaside Regeneration. Paul now works for the London Legacy Development Corporation, which leads the development of QE Olympic Park, and is Chair of Poplar HARCA. He became a Trustee on 12 December 2018.

Michael Gould retired as a Lloyd’s insurance broker in 2000 and, since then, has been a volunteer for Thames North Synod of the URC. His main involvement has been in respect of property and finance and he brings this knowledge, along with governance and insurance experience, to the Centre. Mike is the Nominee of the URC and became a Trustee on 29 March 2012.

Professor Ajit Lalvani is Head of Respiratory Infections at Imperial College London, Director of the National Institute for Health Research Health Protection Research Unit, Founding Director of the Tuberculosis Research Centre and Consultant Physician at Imperial College Healthcare NHS Trust. His research addresses the world’s most serious respiratory infections and spans the pathway from basic and translational science to public health and societal impact. His governance experience includes roles on academic and funding committees at the Wellcome Trust, India Alliance, Medical Research Council, Royal College of Physicians and Royal Society of Medicine. Ajit founded a University of Oxford biotech company based on his innovations and shares the Centre’s mission to improve public health and reverse health inequalities through tackling their social determinants and empowering underprivileged communities. He became a Trustee on 11 March 2014 and chaired the Board until August 2022.

Abdul Mannan grew up in the local community since 1980, He has seen how the Bromley-by-Bow Centre has evolved over the years and is proud to be part of the community. Abdul’s background is in IT and in his early years worked for IBM as computer engineer, HP, and later in life worked for the National Grid as head of the infrastructure department. Abdul’s community involvement is as follows: chair of Poplar HARCA estate board for 8 years (Devon’s Estate), member of the Bromley-by-Bow Centre and local school governor. Currently he is a member and a key decision maker in island network in Dockland which during the pandemic distributed over 55,000 food packets and was recognised by Canary Wharf groups and DLR which has the name plate on their trains. In addition, Abdul is a councillor in the Bromley-by-Bow ward and chair of housing and regeneration. Currently he runs his own college and exam Centre for ICQ and NCFE board. Abdul joined the Board in September 2022 as the Mayor's representative.

Dr Savitha Pushparajah is a GP Partner in BBBH, which has a close working relationship with the Centre and operates three GP surgeries and a Walk-in Centre in Tower Hamlets. She has 16 years' experience of providing healthcare to patients and works closely with communities living in Tower Hamlets. Savitha has a good understanding of the health inequalities and social needs of this community and brings this knowledge to the Board, which she joined as a Trustee on 26 March 2009. She is the Safeguarding lead on the Board.

Obafemi Shokoya has been a trustee since December 2018. The East End of London is firmly in his blood and he is passionate about the challenges and the potential of local people. Raised in Newham, Obafemi is a proud child of African immigrants and his family remains local. For his career, he trained as a hospital pharmacist and worked in the NHS for 20 years, the latter ten years as a chief pharmacist specialising in transformative change in Croydon, East Kent and Barts Hospitals. In 2018, he started his own healthcare leadership consultancy. Through his involvement with INSEAD, the international business school that promotes equality, diversity and inclusion, Obafemi was introduced to the Centre and was astounded by what he experienced. It wasn’t long before he agreed to join the Trustee Board and after year-end joined BENSC.

David Smeed is an executive level businessman with extensive experience of strategic business development, throughout Europe, in healthcare, property and property services. In the past, his roles have included Director of Development at UME Investment Ltd, a specialised Healthcare PFI investor, Managing Director at Bank of America Corporate Finance London and Managing Director of SCIC UK Ltd a French state-owned property services group. David’s key competencies are in finance, business development and management. He became a Trustee on 8 June 2016. David chairs the Finance sub committee and is a member of the Board Effectiveness

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sub-Committee as well as the property sub committee. He was appointed Treasurer in September following Simon’s appointment as interim Chair.

Rachel Smith is co-founder and COO of ExchangeWire, which publishes an advertising and marketing technology publication, and co-founded Wirecorp, which includes two other technology titles, and provides strategic oversight to the company’s global operations. She has provided advice to a number of technology companies. Prior to this, Rachel spent ten years in the public sector working with management and politicians at a local and national level, in the UK and Australia. This included responsibility for corporate customer services, community engagement, public/private partnerships, voluntary and community sector services, media, communications and PR. She became a Trustee on 16 April 2019 and was appointed Chair of BENSC after year-end.

Neil Smith spent a large part of his professional life outside the UK working for Unilever in France, Holland, the Ivory Coast and the USA following which he joined Yoplait in France, participating in the private equity buyout of the Group. Neil is a finance professional, now retired, and is trustee of a group of academies in Thanet and nonexecutive director of a company in the Health and Wellbeing sector. He became a Trustee on 12 December 2018 and resigned 16 November 2022.

Trustees during the period

During the year, there were seven Board meetings. The membership of the Board from 1 July 2021 to the date of this Trustees' Report is shown in the following table. The table also shows the current membership of the Board sub-committees. All trustees are welcome to attend any sub-committee meeting should they wish.

		Sub-Committee Membership	Sub-Committee Membership	Sub-Committee Membership
		Finance	Property	Board Effectiveness
Simon Bevan		Member
Paul Brickell			Chair
Michael Gould			Member
Ajit Lalvani
Abdul Mannan	Appointed 01/09/22
Savitha Pushparajah		Member		Member
Zenith Rahman	Resigned 01/09/22
Obafemi Shokoya				Member
David Smeed		Chair	Member	Member
Rachel Smith				Chair
Neil Smith	Resigned 16/11/22

The Board considers that it currently has an appropriate mix of skills and background experience. The current Board has 9 Trustees and includes two female members; four members from Black, Asian and minority ethnic groups and four members with strong connections with the local community.

The charity’s insurance cover includes Indemnity Insurance for Trustees.

Board Sub-Committees

There are three Board sub-committees, which are important for the effectiveness of the Board as a whole. The Board makes every effort to ensure all sub-committees comprise the right balance of appropriately skilled trustees and ELG members.

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The Bromley by Bow Centre Trustees’ annual report

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Trustee Board Finance Property Board Effectiveness	Trustee Board Finance Property Board Effectiveness
Finance	Board Effectiveness
Provides guidance concerning the financial management of the Centre and monitors risk management and the production and audit of the financial statements Manages property issues, which are important for the Centre as expansion plans are reviewed and discussed Reviews the recruitment of Trustees, succession planning for the Board, Board effectiveness, CEO’s remuneration and appraisal and other governance matters

Whilst the Trustees are responsible for oversight over the work of the charity, day-to-day operations and decisionmaking continue to be delegated to Rob Trimble, the Chief Executive, who reports directly to the Board. Rob, now in his twentieth year as Chief Executive, leads the organisation and chairs the ELG. The members of the ELG at 30 June 2022 are Dr Julia Davis (Honorary Director), Elly de Decker (Executive Director), Michael Barnett (Director of Finance and Operations, resigned November 2021) and John Axon (Interim Director of Finance and Resources, appointed February 2022).

The Board has established appropriate controls and reporting mechanisms to ensure that the ELG operates within the scope of the powers delegated to it. The Board has determined Reserved Powers (as listed on page 34) which only it can ultimately exercise.

All matters not specifically reserved to the Board and necessary for the day-to-day operations of the charity are delegated to management. The specific responsibilities of management are listed below.

• Operate within delegated authority limits set by the Board

• Reporting to the Board in a timely manner and against agreed criteria

• Formulating and recommending the strategic direction of the charity

• Translating the approved strategic plan into annual operating and financial plans

• Managing human, physical and financial resources

• Compliance with relevant laws and regulations

• Deliver agreed performance measures

• Develop, implement and manage the risk management, internal compliance and control systems

• Develop, implement and update policies and procedures

The members of the ELG are not directors for the purposes of company law.

Fundraising Strategy

The primary aim of the charity’s income generation strategy is to maximise income generation in support of the mission and forward strategy. This ensures we can continue to change more lives for the better, grow our services to meet community needs more effectively, become increasingly financially resilient and build unrestricted reserves.

The income generation task falls into two broad categories: restricted income that is directly connected to service delivery programmes; and unrestricted income, including from trading activities that can be used flexibly to support hard-to-fund projects and underpin the running costs of the charity.

During the past year our restricted income was £2,382k (£2,761k in 2021). Total unrestricted income was £866k (£1,262k in 2021). Of this, £249k (£757k in 2021) came from donations. 38

The Bromley by Bow Centre Trustees’ annual report

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The largest single grant secured this year was from East London NHS Foundation Trust for the Community Connectors project within our social prescribing team.

Income from individual donors, has continued to grow, including through the expansion of our Friends of the Bromley by Bow Centre programme, and the new Community Philanthropy Circle stewarding larger individual donations.

Expenditure on raising funds, including writing bids for service deliver income, was £419k (£397k in 2021).

A full list of our supporters can be found here:

https://www.bbbc.org.uk/about-us/funders-and-supporters/

Forward plans

Looking forward, our 2023 targets show realistic levels of growth in total income and income from donations. Our plans continue to require a shift in funding patterns to enable us to better meet community needs. Constrained statutory funding arrangements are still an issue but we are finding some flexibility in new funding. The aim remains to diversify funding by finding new funders and donors and look to achieve growth in all the main service delivery priority areas.

Within the area of philanthropy and unrestricted income, we are focusing on the considerable networks of senior leaders from across sectors who are already aligned with the Centre’s work. We are also driving our approach with corporate businesses and developing new relationships that can provide long-term support year on year.

Framework of good practice

We continue to be committed to fundraising best practice and abide by the Fundraising Regulator’s key principles and behaviours that are enshrined in the Code of Fundraising Practice. There is a clear commitment to be legal, open, honest and respectful in all aspects of our fundraising activity. We undertake to comply with relevant law and regulations, including the Proceeds of Crime Act, Data Protection, Tax and Gift Aid legislation and Charity Commission guidance, as well as the Centre’s own internal policies.

The development team monitors potential donations and corporate partnerships for compliance and risk. Final decisions regarding the appropriateness of gifts can be escalated to the Executive Leadership Group and the Board of Trustees. It is our Board’s legal obligation to act in the best long-term interests of the charity and act prudently when deciding to accept or refuse voluntary donations. The charity will refuse a gift if it can reasonably conclude that its acceptance would be more detrimental to the organisation than its refusal.

All fundraising is done directly by employees as we do not utilise external professional fundraisers or commercial participators. There is very limited direct public fundraising undertaken but, at all times, we are cognisant of the need to protect members of the public and especially those who are vulnerable. We also abide by all regulations associated with avoiding unreasonable intrusion or persistent approaches and not exerting undue pressure on potential donors. The charity has never received a complaint relating to any of its fundraising activities.

People and Culture Strategy

The Bromley by Bow Centre continues on its journey to develop an environment which fully inspires and empowers employees to deliver the Centre’s Vision, in line with its ethos. The organisation remains focused on driving forward our commitment to being a truly anti-racist and inclusive organisation and creating space for honest conversations and feedback.

Progress this year was achieved in the following areas:

• Staff-led anti-racism and EDI group launched and meeting monthly

• 80% of our policies were reviewed and updated, including:

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The Bromley by Bow Centre Trustees’ annual report

For the year ended 30 June 2022

• EDI policy

• Recruitment policy

• Safeguarding policy

• Dedicated People team space creating space for open conversations and consistent support

• All employees now have access to coaching to support development

• Introduction of Celebration Days (2 days a year to recognise Eid or any other religious festival)

• More flexible use of Occupational Maternity Pay

Given some of the challenges we faced and continue to face as an organisation, we cannot be distracted from making progress in terms of our People and Culture. In the next financial year, we will maintain continued focus on:

1. Anti-racism and EDI

2. Developing our employees with an initial focus on managers:

3. Clear goal setting

4. Development Opportunities

5. Coaching

6. Developing a culture of feedback

7. Making better use of Apprenticeship Levy

8. Compensation and Benefits

9. Reviewing job bandings to allow room for progression within bands

10. Employee benefits review

11. Review our approach to recognition, including long service

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The Bromley by Bow Centre Trustees’ annual report

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Related Parties

The Centre has a number of strong relationships with various organisations. Those considered as related parties are BBBH, LBTH, Poplar HARCA and the United Reformed Church, as the four organisations that nominate a representative as a Trustee, plus the Vitabiotics Foundation as Chair, Ajit Lalvani, is a non-executive director of Vitabiotics Limited. The income received during the year from these parties is disclosed in note 9 to the Accounts and the loan balances and facilities in notes 14 and 16.

We work closely with BBBH to provide better health and wellbeing outcomes for the local community. We obtain funding from LBTH to deliver services, including some which are the subject of competitive tendering processes. Many of the services that we deliver provide a direct benefit to the residents living in properties managed by Poplar HARCA. We support the local congregation of the URC and maintain the church building for use by the Centre and the community. The Vitabiotics Foundation shares our long standing commitment to tackling health inequalities and social determinants of health.

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D. Principal Risks and Uncertainties

Risk Management

As part of its ongoing responsibility for ensuring the identification and management of risk, the Board adopts a rolling assessment of strategic and operational risk at three levels, i.e., strategic, operational and project.

This process of risk assessment is reviewed on a regular basis by the Finance sub-committee which in turn reports into the Board. On an annual basis, the ELG report to the Board on the highest level risks and their mitigating actions. The severity of a risk is assessed in two ways:

• Risk Impact - based on the perceived severity of an occurrence; and

• Risk Likelihood - based on the probability of occurrence taking into account mitigating actions being taken.

The Board is particularly interested in:

• new areas of risk;

• areas of risk for which the assessed impact is extreme or very serious and the assessed likelihood is highly likely or very likely; and

• risks where the implementation of mitigating actions have fallen behind schedule.

Key Risks

The Risk Register was last reviewed by Trustees in February 2021. In light of the sale of the Health Centre, it was decided to postpone reviewing the risk register whilst the charity managed the finances in the latter half of the financial year. The last risk register identified 15 key risks. The key risks after mitigation that the Board is currently focusing on are listed below, alongside a summary of how likely it is that the risk will crystallise in what timeframe, the potential impact, our plans for managing these risks and recent changes in the risk profile.

• Unrestricted Income - Levels of unrestricted income do not allow unfundable needs to be met or core costs to be covered . Over the next three years, it is possible that the targets for unrestricted income will not be met and the impact would be a direct reduction in charity funds. Activities to manage the risk include regular meetings involving the CEO, Executive Director and Head of Philanthropy to review the delivery of the Fundraising Strategy and the reporting of progress at Finance Sub Committee and Board meetings.

• Cash flow liquidity - Unable to pay creditors in the short term due to lack of liquidity . With the sale of the Health Centre, this risk has now been mitigated.

• Service Delivery margins - Margins from service delivery contracts do not cover the required level of overhead absorption . Over the next three years, it is highly likely that some contracts will be entered into with a lower rate of overhead absorption than required due to stringent funder restrictions. The impact would be to place a greater reliance on unrestricted and trading income to cover overheads. Activities to manage the risk include clear governance around the entry into new contracts and dialogue with funders during contract negotiations.

• Staff and volunteer capabilities - Staff and volunteers do not have the right capabilities relative to their roles . Within the next year, this is likely to be the case as the level of staff turnover is expected to increase over the coming months in line with external trends. The impact would be on the level of experience of staff members, potentially impacting service delivery quality. Activities to manage the risk include the implementation of the People & Culture Strategy (see page 39) and a continued focus on staff wellbeing. The profile of this risk has worsened in the last year as the country emerges from the Covid-19 pandemic.

Key risks, and their potential impact on income and the use of the charity’s services, are monitored continually by senior managers. In the third quarter of the financial year, a Trustee led task group was appointed by the Board to manage the liquiditiy crisis the charity was facing. This task group met weekly from March to June 2022.

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E Review of Financial Position

The Centre's business model

The Centre derives its income from a number of sources. Almost all our restricted income results from the delivery of services from our different programmes (see “Income from Charitable Activities” in the SOFA) and comes from a range of sources as shown in the table in the following section. In addition, the Centre generates unrestricted income principally from fundraising, from the support of local community partners and from its property assets.

Results for the year

Total income dropped 19% (14% increase in 2021) to £3,248k (£4,023k in 2021). Income from charitable activities fell 4% with reduced delivery in My Life (29%), Insights (25%) and Cross Area Projects (100%) offset with growth in Employability (41%) and Advice (42%). Other areas remained stable year-on-year. Income from donations and legacies excluding income derived from the Coronavirus Job Retention Scheme fell by 62% (26% increase in 2021) to £242k (£785k in 2021). Expenditure decreased by just 5% (3% increase in 2021) from the previous year to £3,762k (£3,962k in 2021).

Overall, the deficit for the year was £514k (£61k surplus in 2021). As a consequence of this, which was partially offset by an additional loan secured during the year, net current liabilities increased from £315k to £875k (£315k in 2021).

The broad sources of the Centre’s funding in recent years are shown below.

Nature	Source	2021-22	2020-21	2019-20	2018-19	2017-18
Restricted	Statutory	54%	41%	36%	40%	46%
	Corporate	12%	11%	16%	18%	19%
	Housing Associations and Social Landlords	3%	2%	2%	3%	2%
	Trusts	4%	15%	11%	10%	11%
	Total	73%	69%	65%	71%	78%
Unrestricted	Income from hire of space	10%	8%	11%	9%	8%
	Other activities	17%	23%	24%	20%	14%
	Total	27%	31%	35%	29%	22%

Reserves

At 30 June 2022, the charity’s unrestricted funds were in surplus by £939k (2021: £1,453k) of which £2,474k (2021: £2,609k) represents the Centre’s fixed assets. Restricted funds at 30 June 2022 stood at zero (2021: zero). Total reserves reduced to £939k (2021: £1,453k), mainly represented by tangible assets with a net book value of £2,474k (2021: £2,609k).

The charity's Reserves Policy seeks to protect its clients and staff by ensuring that services can continue to operate should unforeseen fluctuations in income or expenditure occur. The Board has established a Reserves Policy to protect and safeguard the assets of the Centre.

The Board reviewed the Reserves policy in September 2022 and retained the definition of Free Reserves as Undesignated Net Current Assets, which is effectively working capital available. Under this definition, Free Reserves at 30 June 2022 were in deficit by £875k (2021: £315k in deficit) and can be seen in note 18. These negative reserves had built up over five years of financial deficits.

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During the year, negotiations were underway to sell one of the Centre’s property assets (see note 24: Post Balance Sheet Date Events). This sale would eliminate the Centre’s deficit position and return free reserves to a substantial surplus, and ensure the Centre continues to support the local community for many years to come.

The Reserves policy seeks to return Free Reserves to a positive position and this is one of the Board's key priorities. Trustees and management are focussed on achieving this. Together with the sale of the property asset, Trustees and management seek to reorganise the Centre’s structure with the aim of reducing overhead and improving delivery. Key targets are:

• growth in Service Delivery income based on existing contracts and securing new bids;

• further growth in unrestricted income, including from philanthropic sources;

• ongoing improvements in margins on service delivery contracts;

• tight monitoring of all expenditure where these do not have a direct impact on the delivery of high quality outcomes for our clients; and

• full year benefits of initiatives to adopt a flexible delivery model and reduce costs, mostly in support functions.

Cash and Cash Flow

Cash, which has been tightly managed this year, has improved by 184% to £709k (2021: £250k) as at 30 June 2022. During the year, the total cash increased by £459k (2021: fall of £24k) due to the securing of a new loan facility with the United Reformed Church (URC) of up to £500k and deferral of taxation and social security liabilities.

As some of the charity's income is received in large, irregular amounts, the funds held by the charity fluctuates during the year. To ensure that these fluctuations do not cause short term cash flow difficulties, two loans at zero interest totalling £175k remain outstanding as at 30 June 2022 (2021: £175k). Both loans are repayable in September 2022.

The charity’s Investment Policy seeks to produce the best financial return for uncommitted funds within an acceptable level of risk.

The Board has considered the cash flow forecast to December 2023. This includes the sale of the property asset in the autumn and the settlement of all debt and shows that, based on reasonable estimates of inflows, the charity can pay creditors when amounts fall due without recourse to new funding.

The Board has reviewed the uncertainties surrounding the cash flow forecast, notably the generation of unrestricted income, but judge that these are not material given the surplus generated by the sale of the asset. As such, the trustees consider that there are no material uncertainties for the charity to be a going concern.

F Statement of the Responsibilities of the Trustees

The trustees (who are also directors of The Bromley by Bow Centre for the purposes of company law) are responsible for preparing the trustees’ annual report, including the strategic report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

44

The Bromley by Bow Centre Trustees’ annual report

For the year ended 30 June 2022

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Sayer Vincent LLP acted as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

The trustees’ annual report has been approved by the trustees on 19 December 2022 and signed on their behalf by

Simon Bevan Chair

45

Independent auditor’s report

To the members of The Bromley by Bow Centre

For the year ended 30 June 2022

Independent auditor’s report to the members of Bromley by Bow Centre

Opinion

We have audited the financial statements of Bromley by Bow Centre (the ‘charitable company’) for the year ended 30 June 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

• In our opinion, the financial statements:

• Give a true and fair view of the state of the charitable company’s affairs as at 30 June 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

• Have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Bromley by Bow Centre's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the

46

Independent auditor’s report

To the members of The Bromley by Bow Centre

For the year ended 30 June 2022

audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The trustees’ annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• The financial statements are not in agreement with the accounting records and returns; or

• Certain disclosures of trustees’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit; or

• The trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

47

Independent auditor’s report

To the members of The Bromley by Bow Centre

For the year ended 30 June 2022

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

• We enquired of management and the finance committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

• Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

• Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

• The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

• We reviewed any reports made to regulators.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

48

Independent auditor’s report

To the members of The Bromley by Bow Centre

For the year ended 30 June 2022

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Joanna Pittman (Senior statutory auditor) 19 December 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

49

The Bromley by Bow Centre Reference and administrative details

For the year ended 30 June 2021

Company number	2942840
Charity number	1041653
Registered office and	St Leonards Street
operational address	Bromley by Bow
	London E3 3BT
Directors	Trustees, who are also directors under company law, at the date of this report are:
	Simon Bevan	Interim Chair
	Paul Brickell
	Michael Gould
	Ajit Lalvani
	Abdul Mannan
	Savitha Pushparajah
	Obafemi Shokoya
	David Smeed	Treasurer
	Rachel Smith
Company Secretary	Graham Rowbotham
Chief Executive Officer	Robert Trimble
Solicitors	Stephenson Harwood LLP
	1 Finsbury Circus
	London EC2M 7SH
Bankers	Barclays Bank plc
	36–38 South Street
	Romford
	Essex RM1 1RH
Auditors	Sayer Vincent LLP
	Chartered Accountants and Registered Auditors
	Invicta House
	8-114 Golden Lane
	London EC1Y 0TL

50

Bromley by Bow Centre © Frank Creber

Contact

Registered office and operational address St Leonards Street Bromley by Bow London E3 3BT

bbbc.org.uk

51

The Bromley-by-Bow Centre

Statement of financial activities (incorporating an income and expenditure account)

For theyear ended 30 June 2022
Note Income from: Donations and legacies 2 Charitable activities 3 Employment & Skills My Life Community Connections Beyond Business Action for Bow Advice Centre Insights Cross Area Projects Other trading activities 4 Total income Expenditure on: Raising funds Charitable activities Employment & Skills My Life Community Connections Beyond Business Action for Bow Advice Centre Insights Cross Area Projects 5 6 Other trading activities Total expenditure Net income / (expenditure for the year) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	2022 2021 Unrestricted Restricted Total Unrestricted Restricted Total £'000 £'000 £'000 £'000 £'000 £'000 249 13 262 757 166 923 - 635 635 - 451 451 - 666 666 - 944 944 - 79 79 - 75 75 - 124 124 - 126 126 18 - 18 18 - 18 - 841 841 - 594 594 268 24 292 161 230 391 - - - - 175 175
	286 2,369 2,655 179 2,595 2,774 331 - 331 326 - 326
	866 2,382 3,248 1,262 2,761 4,023
	419 - 419 397 - 397 - 633 633 20 581 601 - 865 865 38 1,127 1,165 - 194 194 18 105 123 - 144 144 - 154 154 15 - 15 18 - 18 - 979 979 24 677 701 340 24 364 181 258 439 - - - - 208 208
	355 2,839 3,194 299 3,110 3,409 149 - 149 156 - 156
	923 2,839 3,762 852 3,110 3,962
	(57) (457) (349) 61 (457) 457 (514) 410 (515) (349) 349 -
	(514) - (514) 61 - 61 1,453 - 1,453 1,392 - 1,392
	939 - 939 1,453 - 1,453

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements of funds disclosed in Note 19 to the financial statements.

52

The Bromley-by-Bow Centre

Balance sheet

Balance sheet
As at 30 June 2022	Company number: 2942840
Note Fixed assets: Tangible assets 11 Current assets: Debtors 13 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 14 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after one year Total net assets The funds of the charity: Restricted income funds Unrestricted income funds: Designated funds General funds Total unrestricted funds Total charity funds	2022 £'000 £'000 2,474 2,474 418 709 1,127 (2,002) (875) 1,599 (660) 939 - 13 926 939 939	2021 £'000 £'000 2,609 2,609 671 250 921 (1,236) (315) 2,294 (841) 1,453 - 14 1,439 1,453 1,453
			1,453

Approved by the trustees on 19 December 2022 and signed on their behalf by

Simon Bevan Chair

53

The Bromley-by-Bow Centre

Statement of cash flows

For the year ended 30 June 2022

Net income/(expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges Sale of assets Interest paid Decrease in debtors Increase/(decrease) in creditors Net cash provided by / (used in) operating activities Cash flows from investing activities: Interest paid Net cash provided by / (used in) investing activities Cash flows from financing activities: Repayments of borrowing Resilience & Recovery Loan United Reformed Church Net cash provided by / (used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2022 £'000 £'000 (514) 126 9 41 253 349 264 (41) (41) (64) - 300 236 459 250 709	2021 £'000 £'000 61 142 - 41 88 (616) (284) (41) (41) (59) 360 - 301 (24) 274 250	2021 £'000 £'000 61 142 - 41 88 (616) (284) (41) (41) (59) 360 - 301 (24) 274 250
			(24) 274
			250

54

The Bromley by Bow Centre

Notes to the financial statements

For	theyear ended 30 June 2022
1	Accounting policies
a)	Statutory information
	The Bromley by Bow Centre is a charitable company limited by guarantee and is incorporated in the UK. The registered office address is St Leonards Street,
	Bromley by Bow, London, E3 3BT.
b)	Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. c) Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102. d) Going concern At year end, there was a deficit on free reserves of £875k. At the balance sheet date, the charity had bank balances totalling £709k and net current liabilities of £875k. The Board has considered the cash flow forecast to December 2023. This included the sale of the property asset (see note 24 for details) and shows that, based on reasonable estimates of inflows, the charity can pay trade creditors and loan payments when amounts fall due without recourse to new funding. e) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will 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 charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred; else the income is deferred until the above criteria is fulfilled, normally as per the funder's written conditions. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. Claims made through the UK Government’s Coronavirus Job Retention and Support Schemes are recognised as income in the period during which the associated staff were furloughed. This income is considered to be unrestricted. f) Donations of cash, gifts, services and facilities Cash donations are recognised as income upon entitlement. Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

55

The Bromley by Bow Centre

Notes to the financial statements

For the year ended 30 June 2022

1	Accounting policies (continued)
i)	Expenditure and irrecoverable VAT
	Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and
	the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
	 Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as
	the cost of any activities with a fundraising purpose
	 Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and
	their associated support costs
	Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
j)	Allocation of support costs
	Resources expended are included in the statement of financial activities on an accruals basis, inclusive of any VAT which cannot be recovered.
	Resources expended are allocated to the particular activity where the cost relates directly to that activity. Other costs, which are attributable to more than one
	activity, are apportioned across cost categories. The basis of allocation reflects the staff resources absorbed by that activity.
	Charitable expenditure comprises those costs incurred by the charity in the delivery of services to its beneficiaries. It includes both costs that can be allocated
	directly to such activities and those costs of an indirect nature necessary to support them.
	Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory
	requirements and include any costs associated with the strategic management of the charity’s activities.
k)	Operating leases
	Rental charges are charged on a straight line basis over the term of the lease.
l)	Tangible fixed assets
	Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related
	assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in
	use.
	Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Land is not
	depreciated. The depreciation rates in use are as follows:
	 Freehold Buildings 2% of cost per year
	 Computer Equipment 20-25% of cost per year
	 Other Equipment 20% of cost per year
	 Fixtures and Fittings 10-20% of cost per year
m)	Debtors
	Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of
	any trade discounts due.
n)	Cash at bank and in hand
	Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition
	or opening of the deposit or similar account.

o)	Creditors and provisions
	Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to
	a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their
	settlement amount after allowing for any trade discounts due.

p) Pensions

Contributions payable to employees' private defined contribution pension plans are charged to the statement of financial activities in the period to which they

q) Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method

56

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2022

2 Income from donations and legacies

Donations Resilience & Recovery Grant Fund Government Grants Income	2022 Unrestricted Restricted Total £'000 £'000 £'000 229 13 242 - - - 20 - 20 249 13 262	2021 Unrestricted Restricted Total £'000 £'000 £'000 619 22 641 - 144 144 138 - 138
		757 166 923

3 Income from charitable activities

Total funding from Government sources is £1.0M (2021: £1.0M).

Employment & Skills ESOL for Integration ESOL New City College GLA London Youth Fund Ingeus Central London Works LCF Creative Communities Others My Life Active Health Active Together Communities Driving Change Crisis Social Prescribing Bridge Point East London Foundation Trust Healthy Cities Lottery Community Fund Mercers Spaces to Connect Social Care Social Prescribing Young Londoners Others Community Connections Bow Foodbank Network - Population Health Space to Connect Time Bank Welcome Hub (formerly Connection Zone) Others Beyond Business Investec Action for Bow Action for Bow	2022 Unrestricted Restricted Total £'000 £'000 £'000 - 105 105 - 80 80 - 55 55 - 279 279 - 78 78 - 38 38 - 635 635 - - - - 37 37 - 53 53 - - - - 115 115 - 1 1 - 15 15 - 32 32 - 167 167 - 134 134 - 34 34 - 78 78 - 666 666 - 38 38 - 44 44 - 3 3 - (3) (3) - (3) (3) - - - - 79 79 - 124 124 - 124 124 18 - 18 18 - 18	2021 Unrestricted Restricted Total £'000 £'000 £'000 - 103 103 - 104 104 - - - - 137 137 - 50 50 - 57 57
		- 451 451
		- 42 42 - 110 110 - 211 211 - 69 69 - 49 49 - 31 31 - - - - - - - 188 188 - 86 86 - 42 42 - 116 116
		- 944 944
		- 33 33 - - - - 6 6 - 3 3 - 19 19 - 14 14
		- 75 75
		- 126 126
		- 126 126
		18 - 18
		18 - 18

57

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 0

Income from donations and legacies (continued) Advice Centre BGET - East End Energy Fit 1 - 133 133 City Bridge Trust - 43 43 East End Energy Fit - 10 10 Eastend Homes - 68 68 Energy Redress - East End Energy Fit 2 - 160 160 Energy Redress (Empower You Too) - 149 149 Enhancing Community Support - 30 30 Fuel and food vouchers - 110 110 IAA Real - 17 17 LBTH/Age UK - IAA - 28 28 LCF Advice & Information - 47 47 Others - 46 46 - 841 841 Insights Act Early - - - Consultancy 55 - 55 Evidence Into Practice - - - Regional Facilitator - 24 24 Research, Evaluation and Training 178 - 178 Tours 35 - 35 268 24 292 Cross Area Projects National Lottery Community Fund - - - East End Community Fund - - - - - - 286 2,369 2,655 Other Trading Income 2022 Unrestricted Restricted Total £'000 £'000 £'000 Rent and service charge income 330 - 330 Other Trading Income 1 - 1 331 - 331	- 32 32 - 46 46 - 114 114 - 56 56 - 22 22 - 94 94 - - - - - - - 32 32 - - - - 52 52 - 146 146
	- 594 594
	- 65 65 21 - 21 - 45 45 - 111 111 133 9 142 7 - 7
	161 230 391
	- 100 100 - 75 75
	- 175 175
	179 2,595 2,774
	2021 Unrestricted Restricted Total £'000 £'000 £'000 325 - 325 1 - 1
	326 - 326

4 Other Trading Income

58

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2022

5a Analysis of expenditure (current year)

Analysis of expenditure (current year)
Staff costs Service delivery costs Centre delivery costs Facilities, Property, Health and Safety Finance and Accounting General Management, Other HR, Wellbeing and Hospitality Information and Communications Governance costs Support costs Total expenditure 2022 Total expenditure 2021	Cross Other Raising Employment My Life Community Beyond Action Advice Insights Area trading Governance Support 2022 2021 funds & Skills My Life Connections Business for Bow Centre Insights Projects activities costs costs Total Total £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 233 370 502 126 86 10 534 194 - 86 - 631 2,772 2,851 65 71 102 3 13 - 168 70 - - - - 492 577 - - - - - - - - - 18 - 91 109 125 - - - - - - - - - - 24 202 226 326 - - - - - - - - - - - 54 54 15 - - - - - - - - - - - 70 70 44 - - - - - - - - - - - 39 39 24
	298 441 604 129 99 10 702 264 - 104 24 1,087 3,762 3,962 3 4 6 1 1 - 6 2 - 1 (24) - - - 118 188 255 64 44 5 271 98 - 44 - (1,087) - -
	419 633 865 194 144 15 979 364 - 149 - - 3,762 3,962
	397 601 1,165 123 154 18 701 439 208 156 - - 3,962

5a Analysis of expenditure (previous year)

Analysis of expenditure (previous year)
Staff costs Service delivery costs Centre delivery costs Facilities, Property, Health and Safety Finance and Accounting General Management, Other HR, Wellbeing and Hospitality Information and Communications Governance costs Support costs Total expenditure 2021 Total expenditure 2020	Cross Other Raising Employment Community Beyond Action Advice Area trading Governance Support 2021 2020 funds & Skills My Life Connections Business for Bow Centre Insights Projects activities costs costs Total Total £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 240 360 640 78 93 12 403 220 124 84 - 597 2,851 2,855 39 66 213 7 15 - 101 112 24 - - - 577 480 - - - - - - - - - 31 94 125 152 - - - - - - - - - - 21 305 326 256 - - - - - - - - - - 15 15 17 - - - - - - - - - - 44 44 35 - - - - - - - - - - 24 24 42
	279 426 853 85 108 12 504 332 148 115 21 1,079 3,962 3,837 2 3 6 1 1 - 4 2 1 1 (21) - - - 116 172 306 37 45 6 193 105 59 40 - (1,079) - -
	397 601 1,165 123 154 18 701 439 208 156 - - 3,962 3,837
	397 630 1,167 216 148 17 720 348 - 194 - - 3,837

59

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2022

• 6 Net income / (expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
Depreciation Profit on sale of assets Operating lease rentals: Property Auditors' remuneration (excluding VAT): Audit VAT Under accrual from prior year	2022 2021 £'000 £'000 126 142 9 - 17 17 16 14 4 - 4 3
	176 176

• 7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages Redundancy and termination costs Social security costs Employer's contribution to defined contribution pension schemes The following number of employees received employee benefits during the year between: £60,000-£69,999 £70,000-£79,999 £80,000-£89,999	2022 2021 £'000 £'000 2,434 2,524 12 39 227 225 99 63
	2,772 2,851
	2022 2021 No. No. 1 2 - 1 1 -
	2 3

The total employee benefits including pension contributions and employers' NIC of the key management personnel were £268,496 (2021: £243,027).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2021: £nil).

60

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Cost of raising funds Employment & Skills My Life Community Connections Beyond Business Advice Centre Insights Support	2022 2021 No. No. 4 4 15 14 21 24 6 7 2 2 13 13 6 8 21 24
	88 96

9 Related party transactions

The charity encourages each of its major local partnership organisations, i.e. Bromley by Bow Health ("BBBH"), the London Borough of Tower Hamlets ("LBTH"), Poplar HARCA and the United Reformed Church ("URC"), to nominate a representative as a Trustee. In the normal course of its operation, the charity transacts financially, on an arms' length basis, with all of these organisations. Their representative on the Board of Trustees (see Biographies of the Trustees in the Trustees' Report) has no direct interest in any of these transactions.

During the year, the charity received grants and donations of £nil (2021: £250,000) from the BBBH. One of the charity's Trustees, Dr. Savitha Pushparajah, and the Chief Executive Officer, Robert Trimble, are Partners of BBBH.

During the year, the charity received grants and contract income totalling £141,350 (2021: £328,236) from LBTH. Zenith Rahman, a former Trustee and Abdul Hamman, a Trustee are LBTH Councillors.

During the year, the charity received grants and donations of £105,750 (2021: £211,500) from Poplar HARCA. One of the charity's Trustees, Mr Paul Brickell, is the chair of Poplar HARCA.

During the year, the charity paid rent of £16,500 (2021: £16,500) to URC. One of the charity's Trustees, Mr Michael Gould, is a volunteer for Thames North Synod of URC.

During the year, the charity received an unrestricted donation of £nil from the Vitabiotics Foundation (2021: £20,000). The charity's former chair, Mr Ajit Lalvani, is a non-executive director of Vitabiotics Limited.

The total value of donations from Trustees during the year were £4,512 from 2 Trustees (2021: £1,784 from 11 Trustees). There are no other donations from related parties which are outside the normal course of business.

10 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

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The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

11 Tangible fixed assets

Cost or valuation At the start of the year Additions Disposals At the end of the year Depreciation At the start of the year Charge for the year Disposals At the end of the year Net book value At the end of the year At the start of the year Land and Buildings Cost or valuation At the start of the year Additions At the end of the year Depreciation At the start of the year Charge for the year At the end of the year Net book value At the end of the year At the start of the year	Land and Plant and Fixtures and Computer Buildings Machinery Fittings Equipment Total £'000 £'000 £'000 £'000 £'000 4,190 134 63 197 4,584 6 - - - 6 - (57) (30) (82) (169) 4,196 77 33 115 4,421 1,602 125 57 191 1,975 121 - - 5 126 - (48) (24) (82) (154) 1,723 77 33 114 1,947 2,473 - - 1 2,474 2,588 9 6 6 2,609 Park Mary Buss Health Bromley-by Enterprise Land Development House Centre Bow Centre Barn Total £'000 £'000 £'000 £'000 £'000 £'000 £'000 235 212 24 1,470 1,826 423 4,190 - - - - 6 - 6	Land and Plant and Fixtures and Computer Buildings Machinery Fittings Equipment Total £'000 £'000 £'000 £'000 £'000 4,190 134 63 197 4,584 6 - - - 6 - (57) (30) (82) (169)
		4,196 77 33 115 4,421 1,602 125 57 191 1,975 121 - - 5 126 - (48) (24) (82) (154)
		1,723 77 33 114 1,947
		2,473 - - 1 2,474
		2,588 9 6 6 2,609
	235 212 24 1,470 1,832 423 4,196 - 72 10 710 691 119 1,602 - (2) 1 29 70 23 121
	- 70 11 739 761 142 1,723
	235 142 13 731 1,071 281 2,473
	235 140 14 760 1,135 304 2,588

a long term lease; this property was gifted to the charity and was valued by the Trustees at that time. Mary Buss House is subject to a charge as security for a loan facility from URC Thames North Trust which is detailed in Note 16. Historically, the Health Centre referred to the fixed asset occupied by Bromley-by-Bow Health Partnership and the fixed asset where the charity operates from. On 4 November 2022, the former was sold by the charity (see note 24) and had a charge as security for the loan from Aviva which is shown in note 16. Land with a value of £235,000 (2021: £235,000) is included within freehold property and not depreciated. All of the above assets are used for charitable purposes.

12 Investments

Through the charity's Beyond Business programme, which identifies potential new social enterprises and then guides and supports their launch, BBBC currently has a 5% shareholding in Appt Ltd, Fat Macy's Ltd, Grassroot Workshop CIC, Carmen's Family Coffee House Ltd, Imagen Ltd, InCommon Ltd, InDent Ltd, Juta Shoes Ltd, Lemonade Ltd, Performance Ready Strength & Conditioning Ltd, Supply Change Ltd, Wayfinders 2018 CIC (trading as "The Visionaries"), We Speak Ltd and Yarrow Films Ltd. It has not been possible to arrive at a fair market value of these shareholdings at 30 June 2022, which in any event is not judged to be material.

During the year, an offer was received for the charity's shareholding in one of these companies. which has not proceeded. As the shares were not openly traded and control rested with the company owner and private company who made the offer, £nil is a fair value of the shareholding and the value remains immaterial.

62

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

13 Debtors

Trade debtors Other debtors Prepayments Accrued income	2022 2021 £'000 £'000 230 421 - 4 5 11 183 235
	418 671

14 Creditors: amounts falling due within one year

AVIVA loan Bromley by Bow Health Loan Vitabiotics Foundation Loan Trade creditors Taxation and social security Other creditors Accruals Deferred income (Note 15)	2022 2021 £'000 £'000 406 64 75 - 100 100 84 95 567 153 261 287 72 75 437 462
	2,002 1,236

The Vitabiotics Foundation loan and Bromley by Bow Health loan are both interest fee and are due to be repaid in September 2022.

15 Deferred income

Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at end of the year	2022 2021 £'000 £'000 462 598 (462) (598) 437 462
	437 462

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The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

16 Creditors: amounts falling due after one year

AVIVA loan Resilience & Recovery Loan Fund URC Loan Fund Bromley by Bow Health Loan	2022 2021 £'000 £'000 - 406 360 360 300 - - 75
	660 841

The Aviva loan is secured by a first legal charge on the freehold land and buildings registered at HM Land Registry under the Title Number EGL332867. The original loan of £600,000 is repayable by amortised instalments of capital and interest over a thirty year period from September 1997; interest is payable at 9.75%. An additional loan of £500,000 is repayable by amortised instalments of capital and interest over a twenty two year period from September 2005; interest is payable at 5.73%.

With the sale of part of the Health Centre in November 2022, the Aviva loan became immediately repayable and the outstanding balance was settled in November 2022 (see note 24 for further details).

The Resilience & Recovery Loan Fund was obtained through Social Investment Business under the Government's Coronavirus Business Interruption Loan Scheme and is subject to a debenture security over the Centre's assets. Interest for the first year, at 9%, will be paid by the UK Government. Interest for the remaining two years is 6.5% per annum. The loan must be repaid from 1 July 2022 to 1 June 2024.

On 22 February 2021, the Centre entered into a facility agreement for up to £500,000 with URC Thames North Trust. Funding is available to February 2026 with all drawdowns repayable 60 months after the date of the first drawdown. Any drawdowns will be secured on the property known as Mary Buss House registered at HM Land Registry under the Title Number 269161. Interest on drawdowns is 3% per annum. At balance sheet date £300,000 of the £500,000 has been drawn down.

17 Pension scheme

On 1 August 2014, and in compliance with workplace pension legislation, the charity introduced a Group Personal Pension Plan arranged through Scottish Widows. The charity contributes up to 6% of gross pay for all entitled employees depending on seniority, service and the employee's own contribution. At 30 June 2022, there were 52 (2021: 62) employees who chose to take advantage of this benefit. During the period the amount payable by the charity in respect of these post-retirement benefits amounted to £98,922 (2021: £66,994).

18a Analysis of net assets between funds (current year)

Unrestricted Funds Designated Funds General Funds Net assets at the end of the year	Fixed Net Current Long Term Assets Liabilities Liabilities Total £'000 £'000 £'000 £'000 13 - - 13 2,461 (875) (660) 926
	2,474 (875) (660) 939

18b Analysis of net assets between funds (prior year)

Unrestricted Funds Designated Funds General Funds Net assets at the end of the year	Fixed Net Current Long Term Assets Liabilities Liabilities Total £'000 £'000 £'000 £'000 14 - - 14 2,595 (315) (841) 1,439
	2,609 (315) (841) 1,453

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The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

19a Movements in funds (current year)

Restricted funds: Charitable activities Employment & Skills My Life Community Connections Beyond Business Advice Centre Insights Cross Area Projects Other: Donations and legacies Total restricted funds Unrestricted funds: Designated funds: Mary Buss House Total designated funds General funds Total unrestricted funds Total funds	At the start At the end of the year Income Expenditure Transfers of the year £'000 £'000 £'000 £'000 £'000 - 635 (630) (5) - - 666 (861) 195 - - 79 (193) 114 - - 124 (143) 19 - - 841 (975) 134 - - 24 (24) - - - - - - - - - - 13 (13) - -
	- 2,382 (2,839) 457 -
	14 - (1) - 13
	14 - (1) - 13
	1,439 866 (922) (457) 926
	1,453 866 (923) (457) 939
	1,453 3,248 (3,762) - 939

Expenditure on restricted donations

Expenditure has been incurred to fulfil the obligations of the restricted donations of £13k. The relevant amounts are reported within Support Costs which are then allocated across the cost categories as shown in Note 5a so are included in the Expenditure figures for Charitable Activities in the table above.

Purposes of designated funds

The charity was gifted, in 1997, the property Mary Buss House. In line with the lease in place, the use of this property is designated for the benefit of MIND Tower Hamlets.

65

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

19b Movements in funds (prior year)

Restricted funds: Charitable activities Employment & Skills My Life Community Connections Beyond Business Action for Bow Advice Centre Insights Cross Area Projects Other: Donations and legacies Total restricted funds Unrestricted funds: Designated funds: Mary Buss House Total designated funds General funds Total unrestricted funds Total funds	At the start At the end of the year Income Expenditure Transfers of the year £'000 £'000 £'000 £'000 £'000 - 451 (581) 130 - - 944 (1,127) 183 - - 75 (105) 30 - - 126 (154) 28 - - - - - - 594 (677) 83 - - 230 (258) 28 - - 175 (208) 33 - - - - 166 - (166) -
	- 2,761 (3,110) 349 -
	14 - - - 14
	14 - - - 14
	1,378 1,262 (852) (349) 1,439
	1,392 1,262 (852) (349) 1,453
	1,392 4,023 (3,962) - 1,453

20 Operating lease commitments (leasee)

Expiry date: Less than one year One to five years	Land and buildings 2022 2021 £'000 £'000 17 17 16 33
	33 50

The charity occupies part of the premises of Bromley by Bow United Reformed Church at 1 Bruce Road, Bromley by Bow, London E3 3HN. The rent charged for the period was £16,500.

21 Operating lease commitments (lessor)

At 30 June 2022 the charity had amounts receivable under non-cancellable operating leases for each of the following periods:

Expiry date: Less than one year One to five years Over five years	Land and buildings 2022 2021 £'000 £'000 79 185 23 706 17 184
	119 1,075

66

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June

22 Capital commitments

The charity does not have any capital commitments to report at the balance sheet date.

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

23 Funds held on behalf of other organisations

At 30 June 2022 the charity held the following amounts as a conduit for the Beyond Buisness Programme ponsored by Investec. These amounts will be paid to the winning social enterprises when they are ready to draw down the funds available to them.

2022	2021
£'000	£'000
69	75

24 Post balance sheet events

During the financial year, the Board decided to sell one of its property assets in order to settle of its debts and to provide long term sustainability to the charity. As at balance sheet date two offers had been received to purchase part of the Health Centre and at a Board meeting on 1 July 2022, after taking appropriate professional advice, the more attractive offer was accepted. Legal documentation was finalised and the sale was completed on 4 November 2022.

The property had a final selling price of £3.4m and the two loans which were secured on the property, Aviva loan and the Resilience and Recovery loan, were immediately settled. In addition to these two loans the charity repaid other outstanding debts owed by the charity.

67