2023-06-30-accounts

The Bromley by Bow Centre Report and financial statement For the year ended 30th June 2023

Company number: 2942840 Charity number: 1041653

Commercial in Confidence

The Bromley by Bow Centre Contents

For the year ended 30 June 2023

3 Trustees’ annual report

A Chair’s Introduction

B Annual Review

C Structure, Governance and Management

D Principal Risks and Uncertainties

E Review of Financial Position

F Statement of Responsibilities of the Trustees

40 Independent auditor’s report

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

45 Balance sheet

46 Statement of cash flows

47 Notes to the financial statements

60 Reference and administrative details

Commercial in Confidence

The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

A Chair’s Introduction

The Bromley by Bow Centre is a hub located in the east London borough of Tower Hamlets. Our purpose is to enable our community to thrive. Our spaces and gardens provide a place for our community to come, be and connect. Neighbours of all ages, genders, nationalities, faiths and backgrounds play, relax, socialise or find some peace. Our space is also the open doorway to our broad offer of tailored support. The relationships developed with the Centre will make people feel enabled to access help for more entrenched personal issues, often for the first time.

We have been working with our local community for nearly 40 years now to develop our approach. What we do and how we do it felt as relevant as ever this year. The cost of living crisis hit communities up and down the country very hard. Communities like ours, as was the case during the pandemic, were harder hit than others.

Bromley by Bow is home to a vibrant and diverse community, where people are resourceful and aspirational. Many people do face multi-faceted and complex challenges though. Genuine solutions require an investment of time. They have to be targeted as far as possible, around the holistic needs of individuals or households in order to maximise the prospect of lasting and meaningful success.

We consider a rounded view of how we can enable people in our community to thrive. Each encounter with our services is considered an opportunity to uncover more about people we support and to seek ways in which we can enable them to develop their capabilities and resilience. People who drop in to pick up a fuel voucher may be gently encouraged to attend a session on household budgeting. They may spend time oneto-one with an adviser who can help them with better financial planning. We may be able to support them in reducing existing debt. There could be benefits or family support entitlements of which clients are unaware and which we can help them to claim. Or we may enable them to take a course of education, to gain skills that could lead them to better paid work.

Despite the challenges, what stands out are the year’s many triumphs, seeing new groups and connections form and celebrating opportunities and personal achievements. Our events are stand-out memories of the year, times for us to remind each other of the magic and comfort of togetherness. At the core, we are about community and bringing joy.

The year ending 30 June 2023 saw significant changes at the Bromley by Bow Centre.

At the start of the year, we announced the retirement of our CEO of 20 years, Rob Trimble, and the appointment of Elly De Decker as our new leader. They worked together very effectively over the next 6 months to transition all leadership responsibilities and Elly successfully took up the sole mantle from January 2023.

In November 2022, having taken professional advice and weighed up all the options, we completed the sale of one of our assets, the health centre, to Assura plc, a specialist 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 - remain the prime consideration in guiding our decision-making.

The sale of the health centre allowed us to clear our debts and since then we have carried out significant organisational restructuring in order to ensure continued sustainable service delivery to our community. The profit and cash realised from the health centre sale are reflected in the 2023 financial statements and result in a much healthier reserves position, notwithstanding the costs and disruption of restructuring and the ongoing challenges of generating sufficient unrestricted income and margin from service delivery. Although the accounts show a surplus, we are acutely conscious that this is solely due to the one-off income from an asset sale and that the long-term sustainability of what the charity does for the community requires creative ongoing focus and effort.

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Commercial in Confidence

The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

In August 2022, I took on the role of Interim Chair, having been Treasurer since 2011, and I’m very grateful to everyone who helped me to settle into this role. I want to thank Professor Ajit Lalvani, who, after 8 years as our Chair, stood down as a trustee in May 2023, and Neil Smith, who stood down in November 2022. I also want to pay tribute to all our people, including team members who are sadly no longer with us, and our trustees, who contributed their time and expertise tirelessly.

During the year, the board undertook an externally-led governance effectiveness review. This included looking at our trustees’ skills, at what is going to be needed for the next few years and addressing the ideal board composition. We have begun an open trustee recruitment process with a view of the skills and cultural requirements, with a local lens applied when choosing between candidates.

In this report we acknowledge the vital support we receive from our funders and partners. This support is increasingly important, as our work becomes ever more vital and the pressure on funding remains very difficult. We certainly cannot be complacent, but the Centre should look back on this year with some pride and satisfaction, given the many challenges and changes that were successfully navigated.

Simon Bevan Interim Chair

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A year in view

Welcome to our Annual Review

This year was again a difficult one for communities up and down the country - and the Bromley by Bow area, with its deep-rooted social inequalities, was adversely affected. Our Centre and park provided a safe haven for local people to meet, spend time, seek solace and find support.

Growing health and wealth inequalities

The shadow of COVID-19 has lingered as we continue to meet people whose health, wellbeing and sense of connection was impacted by the pandemic. The cost of living crisis has further eroded personal and financial resilience. Inequality in the UK is stark[1] and growing. People in poverty, disabled people, Black and minority ethnic communities, and migrants are disproportionately impacted by financial hardship and barriers to healthcare . The stories we hear every day from people visiting the Centre show us what this means in practice.

Cost of living events at the Centre were often over-subscribed.

Our response

Throughout this year, our four core programmes have continued to deliver vital support, engage people in new ways and enable positive change for thousands in our local community: building community health and wellbeing and community inclusion and providing access to employment, enterprise and learning and advice. Our work has led to new jobs, skills, income, optimism, direction and opportunity.

Our team provides advice and information in many community settings.

Thank you for the support you gave me during the darkest time of my life. So many of us get ‘lost’ in the system when we are unwell and I couldn’t have got where I am without your help.

Meeting basic needs and enabling connection

Social prescribing participant

We scaled up our fuel voucher distribution, our food projects, our mental health and wellbeing support and our volunteer recruitment to ensure people can meet their basic needs. And we provided many opportunities for people to connect and find joy – the parts of life which are key to both individual and collective wellbeing and can be neglected when realities are so challenging.

Partnership working proved effective in helping address basic needs.

Annual Review 2023

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----- Start of picture text -----
Community events that brought
people together were popular
this year.
----- End of picture text -----

Obtaining sufficient funding to meet community need has been difficult.

Solidarity and partnership

In the face of challenge, we have focused on nurturing solidarity and partnership. Our events are stand-out memories of the year, times for us to remind each other of the magic and comfort of community. From a raindrenched but vibrant Summer of Wellbeing Festival to a sparkling Santa’s Grotto, hundreds of people and dozens of partner organisations celebrated together.

Increasing demand and decreasing resource

Like other charities, we are striving to address increased demand for our services whilst the resources available to us are under ever-increasing pressure. The cost of living crisis, economic hardship and the reduction in charity fundraising income has had significant impact on the ability to meet growing need. We joined our voice to others in the sector to help raise and amplify this acute societal situation with funders and policy makers, as we strive to relieve loneliness, support mental health and assist young people and families.

The only time I get peace is when I come here. I forget everything else. When I walk out the gates I start remembering this and that. In here, I put my phone on silent, it’s protected time. Group participant

Changing the story

----- Start of picture text -----
Local projects, awarded funding
from our Community Voting Day,
thrived.
----- End of picture text -----

This year has been another challenging one, but what stands out are the year’s many triumphs; from seeing new groups and connections forming to securing nearly £5 million of entitled income in social welfare payments for families in our locality, as well as observing confidence building and celebrating opportunities and personal achievements. Those victories show us the difference our work makes and are the fuel for us to continue.

This report covers our financial year July 2022 – June 2023

Annual Review 2023

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Summary

About us

We are 72 staff , 110 volunteers and over 50 local partners in a community of approximately 60,000, called Bromley by Bow. This year we worked with 5,623 people – of which 54% are living within a mile of the Centre .

We deliver person-centred, holistic and integrated support, building on deep connections with the local community. Last year, we held over 3,888 person-centred conversations and ran 91 different groups , whilst volunteers contributed 2,029 hours of their time and expertise. 36% of people using the Centre are engaged in more than one service. 34% of people stay with the Centre from year-to-year.

The difference we make

Our work positively impacts what matters to our community. People we supported reported:

• A 39% improvement in their overall wellbeing .

• .

• A 47% improvement in understanding what is on offer in their community

• A 32% increase in their propensity to support others .

Through our work, households accessed £4.7 million in entitled income , a further £671,541 of debt was managed and 146 tenancies were sustained .

We awarded 213 accredited qualifications , from English language to health improvement, and supported 51 people into work .

We incubated 5 new social businesses to access £100,000 of social investment .

We hosted over 2,055 visitors , coming from as far as South Korea and Singapore to learn about our model.

The year’s activity

Across 4 programme areas , we delivered:

4,318 drop-ins, 9,434 1to1 sessions, 4,000 onward referrals and signposts, 1,671 benefit checks.

1,370 people attended our community events , there were 12,139 group attendances and 1,255 people attended our webinars.

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4*& Our approach and our community

Our approach

The Bromley by Bow Centre is a hub for the community located in the East London borough of Tower Hamlets. Our purpose is to enable our community to thrive.

We are part of the community and work with others, across sectors: our focus on sustainable relationships enables us to achieve our purpose .

We value our staff and volunteers who are essential to what we do.

We partner with Bromley by Bow Health which offers primary care across four health centres including Bromley by Bow Health practice which shares a location with the Centre charity. We also work with a wide range of other Primary and Secondary Care providers and many local partners .

91 staff 110 volunteers 2,029 volunteer hours Over 50 active partnerships

Over many years, we have developed expertise in services 15 events with which meet local needs and have provided opportunities over 1,370 for community connection. attendances

We engage widely with our community and offer tailored support to those who need it. We provide people with a place to be, to come together, to connect. People of all ages, genders, nationalities, faiths and backgrounds find solace in our space and our park.

91 community-led groups or training programmes

Our support is integrated across health and wellbeing : we coordinate and work together to provide a wide range of services across four programme areas.

Over 3,888 person-centred conversations

We are person-centred and holistic: we ask people about what matters to them. We take the time and effort to uncover underlying issues, supporting people to solve the causes of the problems rather than simply alleviating the symptoms.

36% of people engaged in more than one service

We empower : we offer opportunities for people to explore, develop, learn and contribute back into the community.

We amplify the voices of the community through sharing experience and supporting action.

2,055 knowledge exchange participants

4 evaluations

4 research collaborations

Our 40-year journey has required a constant process of learning together to build our joint work.

We learn from what we do and from others.

We share our learning and support others to build on our success.

Where we work – local and international.

The majority of the work we do is local. 54% of the people we worked with this year live within a mile of the Centre and 93% live in Tower Hamlets.

We also have national and international influence. We engage in networks across London and the UK and host knowledge exchanges from as far as Denmark, Japan, South Korea and Singapore.

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Our community

As a hub for the community, where we work shapes what we do and how we work. Bromley by Bow has many assets which support residents’ health and wellbeing…

• Tower Hamlets is a vibrant borough, rich in diversity and located within touching distance of beacons of opportunity, including Canary Wharf and the developing Olympic Park.

• Bromley by Bow itself benefits from good public transport and retail links, public green spaces, and the networks, resources and skills of local volunteers.

• Bromley by Bow also has a young population. Over half of the area are under 30, compared to just 39% of London as a whole[2] .

• Tower Hamlets has historically been a borough of migration and this adds dynamism: according to the Census, 20% of people did not live at the same address in the previous year[3] .

• The Centre’s role is to ensure that the area’s assets can support residents’ health and wellbeing and address some of the challenges which many in the local community face.

...but our local area faces some long-standing and deep-rooted challenges.

Income insecurity

This area has a higher child poverty rate than London and has the worst older person’s poverty rate in the country[4] . Insecurity in people’s income was worsened by the pandemic; currently, the cost of living crisis has had an even greater impact on the local community[5] . As a result, access to basic necessities like food, fuel and medication is a struggle for some: use of the Bow Foodbank doubled across 2022 to an average of 400 households per week[6] .

Space and housing

Tower Hamlets, is the most densely populated place in the UK, with approximately 112 people living on a football pitch size of land. Bromley by Bow is even more densely populated than this[7] .

This also means that private space is an issue. Most people in the area (75%) do not own their own home and 38% of houses are overcrowded (compared to 34% for Tower Hamlets)[8] . Rates of access to outdoor private space, like gardens and balconies, are also low[9] .

Employment and skills

There is a skills and employment gap in this area: 22% of adults (16 or over) have never worked[10] . 7.7% of adults in the area cannot speak English well or at all; in some parts of Bromley by Bow, this rises to 1 in 8 adults[11] .

Mental and physical health

In Tower Hamlets, healthy life expectancy lags behind the national average by 5 years, at 58.6 versus 63.7 nationally. This means that people get more ill at a younger age. For women, healthy life expectancy is even lower: only 56.6 years[12] .

Nearly a quarter of people in Bromley by Bow have a long-term health condition, which is very high when compared to the age of the population. For this area, depression, severe mental illness and diabetes are the conditions which are particularly concerning[13] .

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,( The difference we mak

Who we have worked with

Across the year, the Centre has welcomed and worked with 5,623 people, of all ages, genders, nationalities and levels of health.

68% of the people we worked with were female; 32% had at least on health condition and the majority were of working age. In line with families living in Bromley by Bow, the most common ethnic group using the Centre identified as Bangladeshi or British Bangladeshi.

----- Start of picture text -----
Gender At least one health condition
32% Male 32% Yes
68% Female 68% No
Ethnicity
6%
6%
16%
53%
9%
10%
Asian/ Asian British - Bangladeshi Somali
White/White European Asian/Asian British - Other
Black/Black British Other Ethnic groups
30% 27%
25%
20% 17%
22% 15%
15%
10%
10%
4% 4%
5%
0%
0-17 18-25 26-35 36-45 46-5 56-65 66+
Age
----- End of picture text -----

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Impact

Individual wellbeing is the main measure we track across the Centre.

• Over half of the people we worked with arrived with a negative wellbeing score.

• On average, there was a 39% improvement in their wellbeing after engagement with our services.

• For those reporting negative wellbeing, this improvement rose to 58.

“How would you rate your wellbeing?”

~~39% improvement~~

This is a clinically and statistically significant change[15 ]

We want people to access the ingredients of a good life

Alongside wellbeing, we also track the six outcomes our community and staff collectively identified as the ingredients for a good life.

1. We meet people’s basic needs

2. We build knowledge, skills and opportunities

3. We develop confidence in people’s own resources

4. We encourage connection

5. We create a sense of community and place

6. We support people to take action for themselves and for their community

Different areas of the Centre focus on different aspects of these outcomes – they work together to build the support for a thriving life.

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1. We meet people’s basic needs

“My home is warm enough”

“I can access food when I need it”

~~40% improvement~~

~~16% improvemen~~ t

2. We build knowledge, skills and opportunities

“I know how to get the support I need” “I am confident to speak English in my day-to-day life”

~~101% improvement 65% improvement~~

3. We develop confidence in people’s own resources

“I am confident in myself and my abilities”

~~26% improvement~~

“I communicate what I want to others”

~~9% improvement~~

4. We encourage connection

“I feel connected to others”

“I have enough support around me”

~~16% improvemen~~ t

~~13% improvement~~

5. We create a sense of community and place

“I know what’s going on in my community” “I feel part of my community”

~~47% improvement~~

~~26% improvement~~

6. We support people to take action for themselves and for their community

“I regularly help people in my community”

~~32% improvement~~

People stories

Many people are keen to share their stories of transformation after being involved with the Centre. Some generously agree to tell their story publicly as a way to encourage others to seek support and to demonstrate to our supporters the difference we make. Learn more: view all people stories

Ernest

Engagement with a The Bromley by Bow Centre is the best example wide variety of what a community of services across centre should be the Centre

Zul

Talking about her I am continually building my skills and knowledge and rewarding work as broadening my horizons as a trained advice part of the Bromley by Bow volunteer community

Read Ernest’s story

Read Zul’s story

Paul

Enjoying life again Thanks to the support I received from social after receiving prescribing and the Centre’s timely social advice service, I feel more welfare advice financially secure now and better about life in general

Liz

An inspiring Meeting people really helped. We all have our woman, determined struggles and the group to create positivity accepted me as I am. in life

Read Paul’s story

Read Liz’s’s story

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The year’s activity

This section is a snapshot of our activity over the past year.

• Supporting community life: investing in our place, partnerships and networks as a hub for the community

• Community Health and Wellbeing: a programme of wellbeing activities and social prescribing

• Advice: energy, debt and social welfare advice sessions

• Community Inclusion: activities breaking down barriers of participation, including Social Care

• Employment, Enterprise and Learning: skills and language teaching, job support and business incubation

• Beyond Bromley by Bow: visits and training for people interested in our model

Supporting community life

Continuing to invite people back into the buildings and park and settling into new routines of their use has been an important part of this year. Events have animated and transformed the Centre and the first full events calendar post-COVID has felt particularly special. Meanwhile, the Centre has been developing new ways to work with local partners to use our space, continued to care for the park and buildings as assets for the community.

15 events of all sizes

1,370 event attendances

Seasonal festivals

Our events calendar featured family fun, from the Summer Festival to a Santa’s Grotto, celebrations of achievement such as our Learners’ Day, events with a more serious theme, including “The Big Talk”, a Cost of Living information-sharing event – and a series of spring events which brought the latest research on wellbeing to life.

Park development

We have continued to host park volunteers from Investec, OCS and JP Morgan, whilst our gardening group has nurtured new plants from seed for the park. A major addition to the park this year was the installation of a bench and reflective area to honour our trustee Marcia Maximin, who sadly died during the COVID-19 pandemic. It is well-used and well-loved by park visitors.

46 park volunteers

606 park volunteer hours

Annual Review 2023

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Worked with 3,412 people

2,811 1 to 1 sessions

16 groups or courses

1,014 group attendances

Community Health and Wellbeing

The Community Health and Wellbeing team support residents’ health and wellbeing through providing a warm welcome to the Centre in the Welcome Hub, running one-to-one social prescribing support (one-to-one coaching sessions connecting to local services) and hosting a wide range of groups (the “prescription”). This includes creative sessions – singing, embroidery, painting, card making; active groups from walking to Zumba; carers, LGBTQIA+ and mental health peer groups; coffee mornings and open interest groups – and more.

Drop-in visits to the Centre have surged post-COVID, largely driven by advice enquiries, which has meant closer triaging and coordinated working across the Centre. This year, the Community Health and Wellbeing team has developed its delivery of social prescribing and currently provides five different models of support, receiving 1,081 referrals in the past year alone. To enhance their impact, the team have been focusing on integrating their work with Bromley by Bow Health, sharing projects, events, training and reflection, staff members and team planning and goal-setting.

3,621 onward referrals and signposts

17 volunteers

269 volunteer hours

Annual Review 2023

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Snapshots from the year

Growing and developing the Welcome Hub

The Welcome Hub is often the first point of contact for the Centre. People may come with high levels of stress and pressing concerns. Whatever someone’s starting point, staff provide a welcome, making sure that everyone “leaves with something – whether that is ideas, tools, support, or next steps” (Staff member Mandy). Feeling welcome develops people’s confidence in the next service they engage in, a warm handover and a positive next direction.

The team creates spaces for community building through hosting a range of groups and activities, most led by local residents identifying an idea they wanted to bring to life. This looks like laughter, a meaningful conversation, and people dropping in to a make tea, leading coffee mornings and helping each other.

a warm and inviting place

Experience of the Welcome Hub

4,318 drop-ins received 12 community-led groups newly established this year

Fruit and Veg on Prescription: an integrated project

The Fruit and Veg on Prescription pilot, in partnership with Alexandra Rose Charity and the Population Health team, is an important extension of social prescribing support which enables team members to refer people with financial and health barriers to nutrition. For nine months, participants are able to collect weekly vouchers for fruit and vegetables from the Welcome Hub, attend workshops that teach about nutrition and healthy eating, and access social prescribing support on an ongoing basis. This coordination has enabled both a wider reach for the project and a series of tailored support offers. Vouchers are spent in local markets, supporting the local economy.

The voucher scheme for fruit and vegetables has changed the way I eat. I am now more aware of what food I consume and eat a lot more fruits and vegetables. Since being on the scheme I have lost a stone in weight.

Experience of Fruit and Veg on Prescription scheme

47% people were struggling to access more than one portion of fruit and veg a day

167 people across 64 households have been supported

Participants claimed an average of £44.78 a month[14]

Learn more: read the Integrated Health and Wellbeing annual report

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Advice

For me, the cost of living crisis means choosing between heating and eating.

Participant in The Big Talk event

Worked with 2,714 people

4,811 1 to 1 sessions

286 group attendances

378 onward referrals and signposts

9 volunteers

528 volunteer hours

The Advice team has continued its core strands of work this year: financial capability training, energy and debt one-to-one support, and social welfare legal advice. On average, the team support each person with four different types of advice work. Not surprisingly, this year, the demand for the team’s energy workshops and information increased dramatically. The team experimented with new ways to share vital and fastchanging information, such as hosting “The Big Talk”, a cost of living event co-delivered with local partners, and developing and sharing new resources.

Hosting visits from the energy regulator and senior personnel from energy providers at the Centre has given our local residents an opportunity to provide testimony on the impact of high energy prices on their lives and families.

1,677 people had a benefits check

1,150 people received energy efficiency advice

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Snapshots from the year

Foodbank advice – supporting sustainability

I was suffering, but with someone with you, you feel strong. Otherwise I would feel so much worry and depression; instead it’s a problem that’s under control.

The Centre has been delivering social welfare advice for local housing associations and health centres for many years; one of its more recent innovations has been joined-up delivery of advice services in conjunction with the Bow Foodbank. Every Monday morning, the foodbank’s collection day, upwards of 500 households arrived at the Centre this year. Connecting visitors directly to onsite welfare benefits advisors ensures longer-term, timely support, removing as many financial barriers as possible to accessing food.

Experience of the Advice team

Fuel vouchers – adaptation and local reach

One of the year’s biggest shocks was the volatility of the energy sector and how this has affected many people’s experience of energy costs. As a response, a plethora of other changes have ensued: changes in the benefits available, their timelines, and new support schemes announced; changes in the best practice advice, such as the advisability of switching and new pre-payment tariff controls; and changes to the funding landscape.

The team has responded swiftly to these changes, including being a distribution site for fuel vouchers, announced at short notice in the autumn of 2022. The scale and speed of the distribution displays the Centre’s trusted relationship locally and the power of word of mouth the local community.

Learn more: about energy advice – read the evaluation

£127,866 of fuel vouchers distributed 871 households supported

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Worked with 178 people

92 1 to 1 sessions

25 groups or courses

3,255 group attendances

21 volunteers

531 volunteer hours

55 qualifications awarded

London is a very lonely place. People want a deeper connection… to feel it in their heart.

Community Inclusion

The Community Inclusion team specialises in challenging and reducing the barriers to participation in community life - particularly for people who have a disability, long-term condition or mental health concern.

This year, the core Social Care service, providing art-based workshops for people with a learning disability or complex health needs, has grown steadily in popularity. New ways for members to provide feedback and identify their own goals has reinvigorated the service, leading to more community-based activities, day trips and new sessions.

Alongside this, the team has provided a regular programme of activities tailored to the interests of people over 50, run specialist courses to support physical health alongside mental health, and co-produced solutions to reduce isolation for disabled people.

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Snapshots from the year

Community activation – training for health and wellbeing

The team worked with the East London Foundation Trust (ELFT), an NHS mental health support trust, to provide training days, Level 1 and Level 2 courses in lifestyle management and community activation for ELFT staff and service users. These courses were focused on identifying practical support and lifestyle changes which would benefit the participants health and wellbeing, alongside developing the communication skills and techniques to support others to make these changes. Participants valued gaining new knowledge about the relationship between physical and mental health, building connection together and identifying practical steps they could take both in their personal lives and for the hospital wards in which they worked.

It was a memorable and transformative course

a catalyst

I think my highlight was doing the course collectively as staff and patients together. It was a great experience to be able to learn alongside each other.

Experience of the Community Activation courses

It’s our turn – supporting connection beyond disability

‘It’s our turn’ was a partnership led by the disability charity REAL. 13 community reporters were trained to ask peers about their experience of connection and loneliness and five barriers to connection were highlighted: feeling excluded in social situations, transport, financial concerns, reliance on carers and organisations, and people not understanding disability.

The partnership worked with participants to create responses and activities to challenge these barriers and build networks and friendships across the organisations. These ideas connected people and participants felt that they had a say in their local services. The Social Care team focused on three activities: Find Your Voice, supporting people to develop confidence and ownership of their stories and life experience; the Connection Challenge peer support group; and Self-Care, a series of workshops teaching new techniques to support people’s own wellbeing.

Learn more: about It’s our turn

– read the evaluation

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Worked with 909 people 1,720 1 to 1 sessions

Employment, Enterprise and Learning

The Employment, Enterprise and Learning team teach functional and work-related skills and provide one-to-one work coaching and business development support. The team have delivered a strong programme of English as an Additional Language teaching for 331 participants, with the majority of classes for pre-entry learners, a group of learners who are often overlooked in other services. This has been coupled with digital inclusion classes, a social mixing programme and day trips to integrate this learning into real life settings.

Investec Beyond Business had a successful 12th year. This social enterprise incubation programme has, at the last count, led to 59 successful businesses.

The team also offered three tailored employability offers: for young people, the creative industries, and people with a disability or long-term health condition to get back to work, involving 440 people in all.

49 groups or courses

7,584 group attendances

88 volunteer hours

158 qualifications awarded

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Snapshots from the year

Creative Futures exhibition – sharing skills and stories

This year, the team worked to improve access and tackle underrepresentation in the creative industries through placements, collaborative projects and skills development sessions.

One memorable project – Traces: Stories of Migration – explored personal and family migration stories through textile crafts. Led by artist Lucy Orta and supported by London College of Fashion graduates, participants from East London were invited to share their personal or family migration stories and craft heritage through storytelling and craft workshops. This process led to the creation of individual ‘story-cloths’ as a medium through which the diverse cultural and social experiences of immigrant communities were acknowledged. The artist created textile portraits of each participant and the portraits and story-cloths were exhibited together in the Bow Arts gallery and the London College of Fashion.

I feel as if someone has put new batteries in to me.

Experience of a participant in Creative Futures

Of the 292 people enrolled for this work, 284 had never previously engaged in the arts sector or creative industries.

Meet the Dragon’s Den winners

£100,000 was distributed to the successful social enterprises

Five successful enterprises of 2022 have emerged in competition from 70 Investec Beyond Business applicants. 12 individuals worked for more than 12 weeks to develop their business plan, before pitching competitively in a Dragon’s Den. The five businesses who impressed the judging panel to win financial and practical support are listed below. All Beyond Business alumni continue to be supported by the programme.

The winners were:

Blackout Dance Camp (featured) - creating dance opportunities for people from all backgrounds and walks of life.

Skater GalsnPals - all about skating, diversity, and community.

Flowspace/Dalston Clay – combining creative process and deep relaxation: a fully equipped art studio, and a relaxing space for yoga, meditation, meetings and events.

First Fruits - a composting/wood waste/biochar business in the East End and beyond, recruiting people from the margins of society and who are socially isolated.

Lammas Bakery - a bakery that supports people who face barriers to work into training with support to find jobs in the hospitality sector.

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If ever there was an example of ‘you have to go there to really understand it’, that was our visit to Bromley By Bow.

Feedback from a group visit to Bromley by Bow

Engaged with 2,055 people

52 in person group visits

790 in person visitors

1,255 online attendances

Beyond Bromley by Bow

For many years, we have welcomed visitors from across the UK and beyond to visit Bromley by Bow, part of our commitment to contributing to policy and practice conversations towards a social movement for health.

Continued from the COVID-19 pandemic, webinars have enabled us to explore new partnerships and ways of working.

Meanwhile, two major themes across the visits this year were the design and use of physical space in a health living centre and what health prevention might mean practically for communities. Recent NHS priorities of social prescribing and place-based service integration between primary care and the voluntary sector[16] has sustained interest in holistic models of support for health and wellbeing.

Social prescribing link worker training was hosted by this team for the first half of this year, including five bespoke webinars commissioned by the Greater London Authority (GLA) to address prevalent social welfare issues that occur within social prescribing services.

A visit from the Welsh government

In 2019, a national shift in health and social care policy in Wales led to a policy recommendation of new wellbeing hubs across Wales, integrating primary health and social care centres with opportunities for wider services that promote wellbeing.

A team from the Welsh government, Social Services Integration Directorate, the directorate responsible for establishing 50 of these hubs, came to explore the

Centre’s approach to integration within our community hub, including co-location of and partnerships between statutory and voluntary services, governance, staff culture and user participation, and the successes and challenges of this 39 year journey.

This experience and insight are supporting the team to consider the important aspects of hub development in their policy development responsibilities.

Annual Review 2023

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

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 updated during the year ended 30 June 2018 and 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.

The Board met in person and or via Teams 13 time this year.

Following a restructure of the Senior Leadership structure which resulted in a streamlining, the Centre removed the Executive Leadership Group and Management Group and replaced it with a Senior Leadership Team comprised of the CEO, the Joint Heads of Delivery and Impact, the Head of People and Culture and the Head of Finance and Operations. Members of the Senior Leadership Team are invited to attend all Board meetings and the annual general meeting.

The Board comprises a minimum of six and maximum of 15 Trustees. Following the resignation of Neil Smith in November 2022 and Ajit Lalvani in May 2023, the Centre now has 8 members of the Board – 4 Ordinary Trustees and 4 Nominated Trustees. The Board is actively considering adding new trustees given that some current board members are nearing the end of their term. We are looking to bring in additional Ordinary Trustees and continue to develop the diversity of our governance.

Trustees serve an initial term of three years and can be elected for a maximum of 12 years.

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

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

• 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

• 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, other Trustees and Senior Executives as required, with external training opportunities provided if appropriate.

The Trustee Induction programme will be reviewed and improved in advance of any new Trustee joining.

Individual Trustees have chosen to engage more with individual executive areas: for instance Obafemi Shokoya is the board representative on the Equity, Diversity and Inclusion group; Simon Bevan and Rachel Smith are particularly engaged in our income generation efforts.

Trustees are invited to our monthly all-staff Centre Forums, where SLT and staff share updates in an informal setting.

During the annual Board Strategy session, Delivery and Impact Managers shared the main achievements and challenges for their respective areas and answered questions from Trustees.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

Trustee Biographies

Simon Bevan is non-executive Director 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. Simon then stepped down from his role on the Centre’s Board and Nomination SubCommittee but remains a member of the Finance Sub-

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 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 and chairs the Board’s Property Sub-Committee.

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. Mike is also a member of the Board’s Property SubCommittee.

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 as well as a member of the Board Effectiveness and Nomination Sub-Committee and the Finance Sub-

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. Obafemi is the Board’s representative on the Centre’s Equity, Diversity and Inclusion Group and also a member of the Board Effectiveness and Nomination Sub-Committee.

David Smeed is an executive level businessman with extensive experience of strategic business development, throughout Europe, in healthcare, property and property services. He was until recently a Director and shareholder at a Public Health Consultancy, PHAST CIC, with a focus on business development and operations. 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 and Vice Chair in March 2018. He held that post until he was appointed Treasurer in September 2022. Until then he was the Chair of the Board Effectiveness and Nomination Sub-Committee; he is now no longer chair but still a member of that committee. As Treasurer he is also Chair of the Finance Sub-Committee and a member the Property Sub-Committee.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

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 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. Since September 2022 Rachel chairs the Chair of the Board Effectiveness and Nomination Sub-Committee

Abdul Mannan grew up in Bromley by Bow and has gone on to make many contributions to the area both professionally and as a volunteer. Currently a Tower Hamlets councillor in Bromley by Bow and Chair of Housing and Regeneration, Abdul also runs his own college and exam centre for ICQ and NCFE boards. During the pandemic, he became a member of the Island Network in Docklands, helping to pack and distribute over 55,000 food parcels. The group’s work has been recognised by Canary Wharf Group and DLR who carry their name plate on their trains.

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 till September 2022. He resigned as a trustee in May 2023.

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 non-executive director of a company in the Health and Wellbeing sector. He became a Trustee on 12 December 2018 and resigned in November 2022.

Trustees during the period

		Board Sub-Committees	Board Sub-Committees	Board Sub-Committees
		Finance	Property	Board Effectiveness
Simon Bevan		Member
Paul Brickell			Chair
Michael Gould			Member
Ajit Lalvani	Resigned 24 May 2023
Abdul Mannan	Appointed 1 September 2022
Savitha Pushparajah		Member		Member
Zenith Rahman	Resigned 1 September 2022–
Obafemi Shokoya				Member
David Smeed		Chair	Member	Member
Rachel Smith				Chair
Neil Smith	Resigned 16 November 2022

The Board is committed to further deepen the diversity within our Governance Structure.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

The current Board has 8 Trustees and includes two female members; three members from Black, Asian and Minority Ethnic groups and three 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 SLT members. In order to ensure there is a consistency of approach across the sub-committees, the Treasurer attends all the meetings.

					Trustee Board
Prop Finance					Property			Board Effectiveness
	Provides guidance				Manages property issues,			Reviews the recruitment of
	concerning the financial				which are important for the			Trustees, succession
	management of the Centre				Centre given how vital our			planning for the Board,
	and monitors risk				‘space’ is to our delivery			Board effectiveness, CEO’s
	management and the				model			remuneration	and appraisal
	production and audit of the							and other governance
	financial statements							matters

Whilst the Trustees are responsible for oversight of the work of the charity, day-to-day operations and decision-making continue to be delegated to Elly De Decker, the Chief Executive, who reports directly to the Board. Elly was appointed CEO on 1[st] Jan 2023. She succeeded Rob Trimble, who had been Chief Executive for 20 years. Elly leads the Senior Leadership Team comprised of Shahanara Begum and Ruth Roberts (Joint Heads of Delivery and Impact) and Laura Carreira (Head of People and Culture). The roles of Head of Finance and Operations and Head of Income Generation and Marketing are currently vacant; we are supported by an Interim Head of Finance in the meantime.

The Board has established appropriate controls and reporting mechanisms to ensure that the SLT operates within the scope of the powers delegated to it. The Board has determined Reserved Powers 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 SLT are not directors for the purposes of company law.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

Working towards financial sustainability

In a context, over the last decade, of ever increasing demand but constant pressure on funding, the Bromley by Bow Centre, as many organisations in the sector, has found it difficult to make the bottom-line add up. We have had a number of years with significant deficits which has, over time, reduced our financial resilience.

We have however taken significant action in the last 12 months to ensure we can preserve the impact we deliver in our community for the long-term:

1. Asset Sale

The most significant action we undertook was to sell one of our properties.

The Bromley by Bow Centre has had the foresight, over the years, to build up a property portfolio, privately owned by the charity and put to use for the community. Given the significant financial crisis we experienced in the financial year to June 2022, we took professional advice and weighed up all the options. As a result, the trustees decided to realise sufficient value from the sale of one asset, the health centre, to clear our debts and provide reserves to sustain our activity for the 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 Bromley by Bow Health – 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. The sale was completed in November 2022. Having realised cash from the sale of the health centre, we’ve been able to clear debts, which will save significant interest and repayment obligations, and we have net cash for the first time in years.

We are actively considering how to make our cash work best for us in the longer term but don’t want to make any hasty decisions on fixed-term investments given the challenging environment and the need to continue to support our community as much as possible in a context of significant demand.

2. Organisational Review and Restructure

To ensure our long-term sustainability we also embarked on a wide-ranging review and restructure of the organisation. This restructure was first and foremost focused on making sure remain fit for purpose but also generated savings, mainly within our OH. Restructuring inevitably carries a significant cost which are factored into our expenditure this financial year.

Income Generation Strategy

The primary aim of the charity’s income generation strategy remains to maximise income generation in support of its purpose. This ensures the Centre can continue to make the difference we set out to make for the local community, develop its services to respond to community want and 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, restricted income was £1,888k (£2,382k in 2022). Total unrestricted income increased to £3,512k (£866k in 2022). Of this, £2,668k was profit from the sale of a property asset. £451k (£249k in 2022) came from donations, a good result given continued nervousness around events and other fundraising activities due to the pandemic. The three most significant amounts of funding this year came from the British Gas Energy Trust, the National Lottery Community Fund and the Energy Redress Fund.

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.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

A full list of our supporters can be found here:

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

Forward plans

Looking forward, given the continued pressure across the funding landscape, we unfortunately need to be realistic in terms of the levels of growth in total income and income from donations we will be able to achieve. Statutory income, including from both local authority and health and still an important proportion of our total income, remains under pressure while competition for other types of income is severe. Our aim continues to be to diversify our funding by attracting new funders and donors and look to at least maintain our current level of activity 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 [and supporters] 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

This past year has not been without its challenges; with a lot of change and uncertainty because of financial constraints. As such our focus was around further strengthening the foundations, developing and improving processes and policies and reviewing and streamlining our organisational structure. We wanted to ensure we had the best structures and processes in place for all teams, while safeguarding our services for the future for the community.

Once the foundations were in place, our focus has been much more on how we support and develop our staff, prioritising employee engagement and a continued commitment to being truly inclusive in the way we work. Some of our successes in the People and Culture team for this year include;

• First All-staff away day – refocussing on developing a common narrative on what matters, our purpose and our direction of travel

• People Manager Expectations – clearly articulating what we expect of all managers and ensuring these principles underpin all aspects of our way of working

• Robust training programme – focussed on developing leadership, line management and safeguarding within the organisation

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

• EDI Action Plan – further develop our approach, building on the early successes achieved in the previous year

• Improved internal communications – moving away from all staff emails to using Microsoft Teams and having a structured approach to our monthly all staff meetings (Centre Forums)

• First demographics survey – providing clarity on the makeup of the organisation and identify recommendations to support continued development of our diversity and culture

• More time together – increased focus on quality time with staff including celebrations for Eid and Christmas and our first all staff offsite social

In the next financial year, we will in particular focus on:

1. Further developing an internal culture build on trust and transparency

2. Increasing volunteer support at the Centre

3. Embedding a clearer approach to setting objectives and managing performance

4. a. Clear objective setting and monitoring process

5. b. Having quarterly performance conversations

6. Review our approach to compensation and benefits

7. a. Reviewing job bandings to allow room for progression with bands

8. b. Reviewing our approach to recognition (formally and informally)

9. c. Improving our wellbeing benefits (reviewing EAP, OH and flexible working)

Remuneration Policy

Salaries for all posts are banded within a range commensurate with the job role. Pay increases are awarded on promotion and in line with cost of living increases. Salaries for new roles are benchmarked using a consistent job evaluation approach with existing roles. We are a London Living Wage employer.

The CEO’s performance appraisal and remuneration review is managed by the Board Effectiveness subcommittee which makes recommendations on setting the salary of the CEO to the Board for approval.

Related Parties

The Centre has a number of strong relationships with various organisations. Those considered as related parties are Bromley by Bow Health, the London Borough of Tower Hamlets, Poplar HARCA and the United Reformed Church, as the four organisations that nominate a representative as a Trustee. The income received during the year from these parties is disclosed in note 10 to the Accounts and the loan balances and facilities in notes 15 and 17.

We work closely with Bromley by Bow Health to provide better health and wellbeing outcomes for the local community. We obtain funding from the London Borough of Tower Hamlets 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 United Reformed Church and maintain the church building for use by the Centre and the community.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

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 monthly basis by the SLT which reports into the Finance Subcommittee and then the full board on a quarterly basis.

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 in November 2023.

The last risk register identified 12 key risks.

The main themes 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.

• Safeguarding and Health and Safety – given the continued challenges faced by our local community, combined with the constant pressures we face on resourcing, additional focus is required to ensure we keep our clients, members of public, staff and volunteers safe from physical and / or mental harm. The profile of this risk has become more acute recently. To mitigate this risk we have provided additional Safeguarding training, updated our Safeguarding policy and strengthened our procedures. We have also undergone a Health and Safety Review, are installing CCTV, are updating our emergency software and are upgrading the locks to our entrances

• Income – our income, across the board remains under pressure; from a risk perspective, the main consideration is the impact on our bottom-line and our longer-term sustainability. In particular:

• Unrestricted Income - Levels of unrestricted income do not allow un-fundable 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 relevant trustees, the CEO and relevant members of the income generation team to review the delivery of the Income Generation Strategy and the reporting of progress at Finance Sub Committee and Board meetings.

• 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 - Staff and volunteers do not have the right capacity / capabilities relative to their roles. Within the next year, there is a likelihood for this to be the case as we do expect staff turnover to increase / vacancies to be open for longer in line with external trends. The impact would be on the level of experience of staff members, potentially impacting service delivery quality. The profile of this risk has

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

worsened somewhat this financial year as the result of the restructure. Activities to manage the risk include the implementation of the People & Culture Strategy and a continued focus on staff wellbeing (see page 11).

• Infrastructure – there is a need to ensure that our basic infrastructure (IT and premises) remains fit for purpose. Without immediate investment there is a real possibility that either or both start preventing us from delivering our model in the way we need / want to. We have now signed off an investment in our IT infrastructure that has embarked us on a 2-year roadmap to bring our IT infrastructure back to where it needs to be. We also have identified a programme of work to our buildings and a preferred builder to implement it and are exploring options to finance the works

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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 increased by 65% (18% drop in in 2022) to £5,345k (£3,248k in 2022), including £2,668k profit from the disposal of a property asset. Income from charitable activities fell 27% mainly due to a strategic decision to focus away from Insights (59%) an underspend in Beyond Business due to a change in staffing (28%) and reduced delivery in Employability (45%) and Advice (31%).

Income from donations and legacies increased by 72% (62% decrease in 2022) to £451k (£262k in 2022).

Expenditure decreased by 3% (5% decrease in 2021) from the previous year to £3,648k (£3,762k in 2022), including one-off payments to an amount of £400k we needed to incur in the context of the sale of the Health Centre and the restructure.

Overall, the total surplus for the year was £1,697k (£514k deficit in 2022).

As a consequence of this net current liabilities changed from a negative £875k to a positive £1,167k.

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

Nature	Source	2022-23	2021-22	2020-21	2019-20	2018-19
Restricted	Statutory	21%	54%	41%	36%	40%
	Corporate	8%	12%	11%	16%	18%
	Housing Associations and Social Landlords	5%
	Trusts	0%	4%	15%	11%	10%
	Total	34%	73%	69%	65%	71%
Unrestricted	Income from hire of space	5%	10%	8%	11%	9%
	Other activities*	61%	17%	23%	24%	20%
	Total	66%	27%	31%	35%	29%

*Includes profit from property sale

Reserves

At 30 June 2023, the charity’s unrestricted funds were in surplus by £2,636k (2022: £939k) of which £1,694k (2022: £2,474k) represents the Centre’s fixed assets. Restricted funds at 30 June 2023 stood at zero (2022: zero). Total reserves increased to £2,636k (2022: £939k), represented by tangible assets with a net book value of £1,694k (2022: £2,474k) but also cash in the bank and at hand (£2,124k in 2023 versus £709k in 2022).

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. This year, the Board reviewed the Reserves policy 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 2023 were in surplus by £1,167k (2022: £875k in deficit) and can be seen in note 19.

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The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

In November 2022, the Centre sold one of its property assets (see note 12). The aim of the sale was to eliminate the Centre’s deficit position that had been building up following years of operational deficit and return free reserves to a substantial surplus, and ensure the Centre continues to support the local community for many years to come.

To support this aim, other than the sale of the property asset, Trustees and management sought 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 costs 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 £2,124k (2022: £709k) as at 30 June 2023. During the year, the total cash increased by £1,415k (2022: increase of £459k), mainly due to the sale of the property asset (at which point most debts were settled as well). As some of the charity's income is received in large, irregular amounts, the funds held by the charity fluctuates during the year and cash does need to be monitored carefully.

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 March 2025. This shows that 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.

38

Commercial in Confidence

The Bromley by Bow Centre Trustees’ annual report For the year ended 30 June 2023

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;

• 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 22 March 2024 and signed on their behalf by

Simon Bevan Chair

39

Independent auditor’s report To the members of Bromley by Bow Centre For the year ended 30 June 2023

Opinion

We have audited the financial statements of Bromley by Bow Centre (the ‘charitable company’) for the year ended 30 June 2023 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 2023 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.

40

Independent auditor’s report To the members of Bromley by Bow Centre For the year ended 30 June 2023

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 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 directors 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

41

Independent auditor’s report To the members of Bromley by Bow Centre For the year ended 30 June 2023

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.

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 non-compliance 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.

42

Independent auditor’s report To the members of Bromley by Bow Centre For the year ended 30 June 2023

• 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.

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)

Date: 22 March 2024

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 110 Golden Lane, LONDON, EC1Y 0TG

43

The Bromley-by-Bow Centre

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

For the year ended 30 June 2023

Note Income from: Donations and legacies 2 Charitable activities 3 Employment & Skills My Life Community Connections Beyond Business Action for Bow Advice Centre Insights Other trading activities 4 Profit from disposal of asset 5 Total income Expenditure on: Raising funds Charitable activities Employment & Skills My Life Community Connections Beyond Business Action for Bow Advice Centre Insights Other trading activities Total expenditure 6 Net income / (expenditure for the year 7 Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	2023 2022 Unrestricted Restricted Total Unrestricted Restricted Total £'000 £'000 £'000 £'000 £'000 £'000 451 - 451 249 13 262 - 349 349 - 635 635 - 622 622 - 666 666 - 177 177 - 79 79 - 89 89 - 124 124 11 - 11 18 - 18 - 582 582 - 841 841 98 21 119 268 24 292
	109 1,840 1,949 286 2,369 2,655 277 - 277 331 - 331 2,668 - 2,668 - - -
	3,505 1,840 5,345 866 2,382 3,248
	512 - 512 419 - 419 - 625 625 - 633 633 - 909 909 - 865 865 - 248 248 - 194 194 - 107 107 - 144 144 25 - 25 15 - 15 - 918 918 - 979 979 106 21 127 340 24 364
	131 2,828 2,959 355 2,839 3,194 177 - 177 149 - 149
	820 2,828 3,648 923 2,839 3,762
	2,685 (988) 1,697 (57) (457) (514) (988) 988 - (457) 457 -
	1,697 - 1,697 (514) - (514) 939 - 939 1,453 - 1,453
	2,636 - 2,636 939 - 939

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.

44

The Bromley-by-Bow Centre

Balance sheet

Balance sheet
As at 30 June 2023	Company number: 2942840
2023 Note £'000 £'000 Fixed assets: Tangible assets 12 1,694 1,694 Current assets: Debtors 14 381 Cash at bank and in hand 2,124 2,505 Liabilities Creditors: amounts falling due within one year 15 (1,338) Net current liabilities 1,167 Total assets less current liabilities 2,861 Creditors: amounts falling due after one year (225) Total net assets 2,636 The funds of the charity: Restricted income funds - Unrestricted income funds: Designated funds 13 General funds 2,623 2,636 2,636 Total unrestricted funds Total charity funds Approved by the trustees on 22 March 2024 and signed on their behalf by		2022 £'000 £'000 2,474 2,474 418 709 1,127 (2,002) (875) 1,599 (660) 939 - 13 926 939 939
			939

Simon Bevan Chair

45

The Bromley-by-Bow Centre

Statement of cash flows

For the year ended 30 June 2023

Net income/(expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges Fixed assets purchased Fixed assets disposed Profit from disposal of asset 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: Profit from disposal of asset AVIVA loan Reslience & Recovery Loan Fund URC Loan Fund 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	2023 £'000 £'000 1,697 95 (36) 721 (3,420) 25 37 (258) (1,140) (25) (25) 3,420 (406) (360) (75) 2,579 1,415 709 2,124	2022 £'000 £'000 (514) 126 - 9 - 41 253 349 264 (41) (41) - (64) - 300 236 459 250 709	2022 £'000 £'000 (514) 126 - 9 - 41 253 349 264 (41) (41) - (64) - 300 236 459 250 709
			459 250
			709

46

The Bromley by Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

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,
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
	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
	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 surplus on free reserves of £1.0m. At the balance sheet date, the charity had bank balances totalling £2,123k and net current liabilities of £1,269k.
	The Board has considered the cashflow forecast to January 2025. This included the charity investments with available funds after the profit from disposal of asset and shows that
	based on reasonable estimates of inflow, the charity has the ability to pay employees, trade creditors, statutory responsibilities and loan repayments when amounts fall due without
	resources of new funding. A reasonable estimates of additional inflow of funding and donations are equally predicted that further support the charity tradings.
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
	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
	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
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
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
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.
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
	� 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
	� Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated
	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
	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
	Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include
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
	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
	� 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
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
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
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 relate.
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

47

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

2 Income from donations and legacies

Income from donations and legacies
Donations Government Grants Income	2023 Unrestricted Restricted Total £'000 £'000 £'000 451 - 451 - - -	2022 Unrestricted Restricted Total £'000 £'000 £'000 229 13 242 20 - 20
	451 - 451	249 13 262

• 3 Income from charitable activities

Total funding from Government sources is £0.9M (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 Together Communities Driving Change East London Foundation Trust ELFT Healthy Cities Lottery Community Fund Mercers Spaces to Connect Social Care Social Prescribing Young Londoners Others Community Connections Bow Foodbank Heat Hub Network - Population Health Space to Connect Time Bank Welcome Hub (formerly Connection Zone) Others Beyond Business Investec Action for Bow Action for Bow	2023 Unrestricted Restricted Total £'000 £'000 £'000 - - - - 93 93 - 42 42 - 69 69 - 82 82 - 63 63	2022 Unrestricted Restricted Total £'000 £'000 £'000 - 105 105 - 80 80 - 55 55 - 279 279 - 78 78 - 38 38
	- 349 349	- 635 635
	- - - - - - - - - - 137 137 - - - - 125 125 - - - - 121 121 - 157 157 - - - - 82 82	- 37 37 - 53 53 - 115 115 - - - - 1 1 - 15 15 - 32 32 - 167 167 - 134 134 - 34 34 - 78 78
	- 622 622	- 666 666
	- 30 30 - 50 50 - 55 55 - - - - - - - 35 35 - 7 7	- 38 38 - - - - 44 44 - 3 3 - (3) (3) - (3) (3) - - -
	- 177 177	- 79 79
	- 89 89	- 124 124
	- 89 89	- 124 124
	11 - 11	18 - 18
	11 - 11	18 - 18

48

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

3 Income from charitable activities (continued)

Advice Centre BGET - East End Energy Fit 1 BGET Energise BGET - More Energy City Bridge Trust East End Energy Fit Eastend Homes Energy Redress - East End Energy Fit 2 Energy Redress (Empower You Too) Enhancing Community Support Fuel and food vouchers IAA Real LBTH/Age UK - IAA LCF Advice & Information Others Insights Consultancy Regional Facilitator Research, Evaluation and Training Tours Other Trading Income Rent and service charge income Other Trading Income	- - - - 174 174 - 41 41 - - - - - - - 64 64 - 156 156 - 15 15 - - - - - - - - - - 29 29 - 52 52 - 51 51	- 133 133 - - - - - - - 43 43 - 10 10 - 68 68 - 160 160 - 149 149 - 30 30 - 110 110 - 17 17 - 28 28 - 47 47 - 46 46
	- 582 582	- 841 841
	24 - 24 - 21 21 57 - 57 17 - 17	55 - 55 - 24 24 178 - 178 35 - 35
	98 21 119	268 24 292
	109 1,840 1,949	286 2,369 2,655
	2023 Unrestricted Restricted Total £'000 £'000 £'000 277 - 277 - - -	2022 Unrestricted Restricted Total £'000 £'000 £'000 330 - 330 1 - 1
	277 - 277	331 - 331

• 4 Other Trading Income

• 5 Profit from disposal of asset

Profit from disposal of asset
Sale of Asset Less: costs of sale of asset NBV of asset Legal advice for Trustees (Russell Cooke) Aviva Legal Fees Aviva Early Redemption Fee Net profit from sale	2023 Unrestricted Restricted Total £'000 £'000 £'000 3,420 - 3,420 721 - 721 1 - 1 2 - 2 27 - 27	2022 Unrestricted Restricted Total £'000 £'000 £'000 - - - - - - - - - - - - - - -
	751 - 751	- - -
	2,669 - 2,669	- - -

49

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

5 Profit from disposal of asset (continued)

The proceeds from the sale of the asset was utilised for:

Sale of Asset Repayment of: Aviva Mortgage Resilience & Recovery Fund Loan HMRC Vitabiotics Refund on rent 5 Nov to 25 Dec 22 Cash retained within the organisation	2023 Unrestricted Restricted Total £'000 £'000 £'000 3,420 - 3,420 417 - 417 288 - 288 794 - 794 100 - 100 23 - 23	2022 Unrestricted Restricted Total £'000 £'000 £'000 - - - - - - - - - - - - - - -
	1,622 - 1,622	- - -

50

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

6a 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 2023 Total expenditure 2022	Cross Other Raising Employment My Life Community Beyond Action Advice Insights Area trading Governance Support 2023 2022 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 £'000 275 313 495 134 59 15 530 38 - 79 - 731 2,669 2,772 54 103 85 25 9 - 34 63 - - - - 373 492 - - - - - - - - - 46 - 112 158 109 - - - - - - - - - - 29 145 174 226 - - - - - - - - - - - 147 147 54 - - - - - - - - - - - 77 77 70 - - - - - - - - - - - 50 50 39
	329 416 580 159 68 15 564 101 - 125 29 1,262 3,648 3,762 4 5 7 2 1 - 8 1 - 1 (29) - - - 179 204 322 87 38 10 346 25 - 51 - (1,262) - -
	512 625 909 248 107 25 918 127 - 177 - - 3,648 3,762
	419 633 865 194 144 15 979 364 - 149 - - 3,762

6a 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 2022 Total expenditure 2021	Cross Other Raising Employment Community Beyond Action Advice 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

51

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

7 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	2023 2022 £'000 £'000 95 126 2,669 9 17 17 17 16 5 4 1 4
	2,804 176

• 8 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	2023 2022 £'000 £'000 2,112 2,434 269 12 210 227 78 99
	2,669 2,772

The following number of employees received employee benefits during the year between:

(Includes gross salary and any benefits paid during the period, excluding pension contributions and employers' NIC)

£60,000-£69,999 £70,000-£79,999 £80,000-£89,999 £90,000-£100,000 £100,000-£110,000 £110,000-£120,000 £120,000-£130,000	2023 2022 No. No. - 1 - - 1 - - - - 1 - - 1 -
	2 2

The total employee benefits including pension contributions and employers' NIC of the key management personnel were £349,841 (2022: £268,496). Although this appears as a significant increase, we actually streamlined two layers of senior management into a single one, reducing the total senior management FTE from 6.8FTE to 5.5FTE. Due to an on-going vacancy we also worked with a contractor to lead the finance function, resulting in a higher than usual cost. The cost to the Centre of using the contractor is included in the total above.

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2022: £nil).

52

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

9 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	2023 2022 No. No. 5 4 11 15 22 21 2 6 1 2 13 13 0 6 18 21
	72 88

10 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 did not receive any grants or donations (2022: £nil) from the BBBH. One of the charity's Trustees, Dr. Savitha Pushparajah, and the former Chief Executive Officer, Robert Trimble, are Partners of BBBH.

During the year, the charity received grants and contract income totalling £66,789 (2022: £141,350) from LBTH. One of the charity's Trustees, Mr Abdul Mannan is a LBTH Councillor

During the year, the charity received grants and donations of £239,500 (2022: £105,750) 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 (2022: £16,500) to URC. One of the charity's Trustees, Mr Michael Gould, is a volunteer for Thames North Synod of URC.

The total value of donations from Trustees during the year was £5,959 from 2 Trustees (2022: £4,512 from 2 Trustees). There was one donation from a related party to the amount of £2,312.

11 Taxation

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

53

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

12 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 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 Plant and Fixtures and Computer £'000 Machinery Fittings Equipment Total £'000 £'000 £'000 £'000 4,196 77 33 115 4,421 5 - 17 14 36 (1,470) - - - (1,470) 2,731 77 50 129 2,987 1,723 77 33 114 1,947 91 - 2 2 95 (749) - - - (749) 1,065 77 35 116 1,293 1,666 - 15 13 1,694 2,473 - - 1 2,474 Mary Buss Park House Health Bromley-by Enterprise Land Development £'000 Centre Bow Centre Barn Total £'000 £'000 £'000 £'000 £'000 £'000 235 212 24 1,470 1,832 423 4,196 - - - - - 5 5 - - - (1,470) - - (1,470)	Land and Buildings Plant and Fixtures and Computer £'000 Machinery Fittings Equipment Total £'000 £'000 £'000 £'000 4,196 77 33 115 4,421 5 - 17 14 36 (1,470) - - - (1,470)
		2,731 77 50 129 2,987 1,723 77 33 114 1,947 91 - 2 2 95 (749) - - - (749)
		1,065 77 35 116 1,293
		1,666 - 15 13 1,694
		2,473 - - 1 2,474
	235 212 24 - 1,832 428 2,731 - 70 11 739 761 142 1,723 - 4 - 10 68 9 91 - - - (749) - - (749)
	- 74 11 - 829 151 1,065
	235 138 13 - 1,003 277 1,666
	235 142 13 731 1,071 281 2,473

All fixed assets held are for the benefit of the charity, with the exception of Mary Buss House which is occupied by another charity on 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 17. Historically, the Health Centre referred to the fixed asset occupied by Bromley-by-Bow Health Partnership and the Bromley by Bow Centre as the fixed asset where the charity operates from.

On 4 November 2022, the former was sold by the charity (see note 5) and had a charge as security for the loan from Aviva which is shown in note 17. 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.

54

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

13 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, Yarrow Films Ltd, Fast Flow Wellness CIC, Fresh Fruits Environmental Services CIC, Blackout Dance Camp CIC, Lammas Fare ltd and Skate Gals & Pals CIC. It has not been Fresh Fruits Environmental Services CIC, Blackout Dance Camp CIC, Lammas Fare ltd and Skate Gals & Pals CIC. It has not been possible to arrive at a fair market value of these shareholdings at 30 June 2023, which in any event is not judged to be material.

14 Debtors

Trade debtors Prepayments Accrued income 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) 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	2023 2022 £'000 £'000 319 230 - 5 62 183
	381 418
	2023 2022 £'000 £'000 - 406 75 75 - 100 37 84 259 567 481 261 114 72 372 437
	1,338 2,002
	2,023 2,022 £'000 £'000 437 462 (437) (462) 372 437
	372 437

15 Creditors: amounts falling due within one year

16 Deferred income

55

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

17 Creditors: amounts falling due after one year

Reslience & Recovery Loan Fund URC Loan Fund	2023 2022 £'000 £'000 - 360 225 300
	225 660

The Aviva loan was secured. 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 repayable 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.

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 was repaid in the year.

y , y g p , g 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

18 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 2023, there were 49 (2022: 52) 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 £77,738 (2022: £98,922).

19a 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 Assets Liabilities Total £'000 £'000 £'000 £'000 13 - - 13 1,681 1,167 (225) 2,623
	1,694 1,167 (225) 2,636

19b 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 13 - - 13 2,461 (875) (660) 926
	2,474 (875) (660) 939

56

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

20a Movements in funds (current year)

Restricted funds: Charitable activities Employment & Skills My Life Community Connections Beyond Business Advice Centre Insights 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 of the year At the end £'000 Income Expenditure Transfers of the year £'000 £'000 £'000 £'000 - 349 (625) 276 - - 622 (909) 287 - - 177 (248) 71 - - 89 (107) 18 - - 582 (918) 336 - - 21 (21) - - - - - - - - -
	- 1,840 (2,828) 988 -
	13 - - - 13
	13 - - - 13
	926 3,505 (820) (988) 2,623
	939 3,505 (820) (988) 2,636
	939 5,345 (3,648) - 2,636

Expenditure on restricted donations

The relevant amounts are reported within Support Costs which are then allocated across the cost categories as shown in Note 6a 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.

57

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

20b 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 of the year At the end £'000 Income Expenditure Transfers of the year £'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

21 Operating lease commitments (leasee)

Operating lease commitments (leasee)
Expiry date: Less than one year One to five years	Land and buildings 2023 2022 £'000 £'000 16 17 - 16
	16 33

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.

22 Operating lease commitments (lessor)

At 30 June 2023 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 2023 2022 £'000 £'000 19 79 6 23 15 17
	40 119

58

The Bromley-by-Bow Centre

Notes to the financial statements

For the year ended 30 June 2023

23 Capital commitments

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

24 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.

25 Funds held on behalf of other organisations

At 30 June 2023 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.

2023	2022
£'000	£'000
110	69

59

Reference and administrative details

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 Abdul Mannan Savitha Pushparajah Obafemi Shokoya David Smeed Treasurer Rachel Smith Company Secretary Graham Rowbotham Chief Executive Officer Elly De Decker 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

60

The Bromley by Bow Centre Report and financial statement

For the year ended 30th June 2023

Company number: 2942840 Charity number: 1041653