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← The Bromley By Bow Centre

2024-06-30-accounts

The Bromley by Bow Centre Trustees’ Annual Report For the year ended 30 June 2024

The Bromley by Bow Centre Annual Report and Financial Statements

For the year ended 30 June 2024

Contents

A. Chair’s Introduction Page 2 B. Impact and operations Page 5 C. Structure, Governance and Management Page 25 D. Principal Risks and Uncertainties Page 37 E. Review of Financial Position Page 40 F. Statement of Responsibilities of the Trustess Page 44 Indepedent Auditor’s Report Page 46 Statement of financial activities Page 52 Page 53 Balance sheet Statement of cash flows Page 54 Notes to the financial statements Page 55 Our funders Page 72 Legal and administrative information Page 73

I would tell anyone thinking about coming to the Centre that it’s really, really worth it. Everyone’s really lovely. There’s so much space for everyone.

Sarah, a member of our embroidery group Thread Heads

@ 1 This report covers our financial year July 2023 - June 2024

Annual Report 2024

A Chair’s “a 7 ‘ Introduction : &

Our Hong Kong BNO Group practicing their creative skills in the Church through calligraphy and lantern making.

2

Over the course of the past year, ending on 30 June 2024, the Bromley by Bow Centre built on the significant changes made to our business model the previous year.

Following the sale of the Health Centre in November 2022, which enabled us to clear our debts, we completed a significant organisational restructuring to ensure continued sustainable service delivery to our community. These actions largely addressed the charity’s structural deficit and we are now talking with unrestricted funding sources about a financially sustainable model of our holistic approach to the health and social challenges in our community. The FY24 accounts incorporate the costs of restructuring and the first full year of Elly De Decker’s tenure as CEO.

The new Government’s recent Budget provides some welcome plans to deliver investment in local government, public health and housing. These will take time to deliver the anticipated benefits and, in the meantime, charities like ours continue to address the needs of our communities as best we can, even as operating costs increase and funding tightens. An unfortunate reality of the Budget’s decision to increase employer’s National Insurance Contributions to 15% is that charities like us, who employ over 50 people in service delivery (many of whom are statutorily funded), will face a further increase in operating costs without seeing the increase in funding or reliefs that is available to smaller charities and some health providers. We hope that the Chancellor will listen to the arguments of charities like ours on this point.

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. I also want to pay tribute to all our people and our trustees, who contribute their time and expertise tirelessly.

With the changes being made to our organisations structure we took the opportunity to commission an externally-led governance effectiveness review to understand what will be needed from the board in the coming years. This included an assessment of our trustees’ skills and our ideal board composition and led to an open trustee recruitment process being undertaken that applied a local lens when assessing candidates with the right skills and cultural requirements. Following this process, we are pleased to welcome Naznin Chowdhury as our newest trustee.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

We are delighted to have Naznin’s experience and energy on our Board; she grew up locally and has a deep understanding of diverse inner-city issues through working in economic development for over 15 years. I’m also very grateful to the members for approving the extension of my term as a trustee and appointment as Chair. As we apply creative ongoing focus and effort on the longterm sustainability of what we do for our community as a charity having this leadership continuity will be a huge advantage to us. We certainly cannot be complacent, but the Centre should look back on this year with pride and satisfaction at the many challenges and changes that have been addressed. The current year will require even more creativity and hard work as we seek the longterm sustainability that our community deserves.

Simon Bevan

Chair

Well One’s Smoothie Bike at our Food and the Future event.

Annual Report 2024

impact a .Op,er tion

A message from our CEO

We hold our community at the heart of everything we do

In Bromley by Bow, the statistics do not paint a pretty picture of the state of our society. Poverty rates across the borough sit at 1 41%, significantly higher than the national average of 21% and the average in London at 24%. 10.3% of households in Bromley by Bow2 3 are facing fuel stress. Food insecurity is another area that many in the wider community are navigating, with 10% of London’s 4 households affected. Nearly half of the Bromley by Bow population now lives with a long-term health condition, with healthy life expectancy particularly low for women at 57.8 years, against 63.9 5 nationally.

I never like to start off a conversation about Bromley by Bow with a focus on these types of statistics. When I think about our community, the wonderful people shaping and visiting the Centre, I think about their energy, their dynamism, their infectious joy, their aspirations, as well as the wonderful diversity around us. But not acknowledging these statistics would be to deny the truth of the situation for many.

Communities up and down the country feel disempowered and abandoned – the sense of division is increasing. In this context, more of the same is just not a credible proposition. Bold solutions are needed. We believe that the Bromley by Bow model offers just that, a bold solution to the systemic challenges communities are facing.

Our site, developed over the last 40 years, provides a place for our community to connect, a constant in an ever-changing world, a safe space that everyone can access. It is the open door to our broad offer of tailored support. We work with the entirety of a person through our variety of services and partnerships, recognising that health and wellbeing are primarily driven by social factors not medical.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

We address the causes and effects of poverty with an emphasis on health, learning and social inclusion. We help people grow in confidence and work with them to enable them to navigate their own complex personal situations. 5

We have deep local impact – we work with over 4,000 unique individuals every year, with many more visiting the park during our events. We know that our work improves people’s wellbeing, makes them feel more connected and motivates them to support others. But our impact goes much further than Bromley by Bow. Our work has gained recognition both nationally and internationally. Delegations visit the Centre to learn about our approach from as far afield as South Korea, Singapore and Canada. Our methods are held as an exemplar by the World Health Organisation (WHO). We are where the concept of Children’s Centres was born. We are at the forefront of the development of social prescribing. We are pioneers and entrepreneurs.

What we do and what we offer is not a ‘nice to have’, it’s absolutely critical to what makes a thriving community. We cannot underplay some of the structural challenges communities are facing and will continue to face in the years ahead. This will impact us all.

Fundamentally, we believe that every local community should have access to a ‘Bromley by Bow Centre’, offering a place and space for communities to come together, delivering support that is relevant to what matters to local people.

To ensure our invaluable work is available to everyone who needs us we continue to push for a =" 5 ee ee ; a real conversation on more sustainable funding models for organisations such as ours. We are not = “egyl bieCieGH eal Sir Z | Ah a ‘nice to have’, but we are funded as one. We make this case on behalf of the community of ( Mee aN: ee ) ’ a . ee = ie ie SS Bromley by Bow, but also on behalf of communities up and down the country. \ ** ea \l Zz. 4 Me \ 2 a % | Please join us as we reflect on the past year at Bromley by Bow Centre, the impact we have had in - 9 a‘ fee| i=ETRE = - Yas} our community, the space we offer, and the opportunities we support. Come visit us at the <om -, . / Centre itself, sit in our park, meet new friends, and learn how together how we can make a \ \ son mi ei Bf \ } oe difference to the health and wellbeing of our communities. Sir | e Be = oo , ae i As ever, thank you for your support! ;

Elly De Decker

Annual Report 2024

A year at Bromley by Bow

About us

We are rooted in our community. Last year we supported 4,958 people across all genders, ages, ethnicities and needs levels - 50% of those people live within a mile of the Centre . 37% of people stay with the Centre year-on-year and 30% of people are engaged in more than one of our services. The majority of our 79 staff and 108 volunteers are local to the Centre; many of them started their journey with the Centre as users and volunteers. We have 76 local partner organisations .

The difference we make

We deliver person-centred, holistic and integrated support. The people we work with report: Our activities generate:

==> picture [559 x 441] intentionally omitted <==

----- Start of picture text -----
45%
improvement in
their overall £3,444,064
£1,126,506
wellbeing of entitled income was
of debt managed
accessed
79%
19%
improvement in
increase in feeling
understanding
part of the
what is on offer in
community
their community
18 507
social enterprises of all supported into
stages supported employment, training, or
provided with a certificate
Our activity
4,400
56 2,799
9,037
attendances at
groups across newly registered
1:1 sessions
all areas Centre users wellbeing groups
o 8 This report covers our financial year July 2023 - June 2024 oocL Annual Report 2024
----- End of picture text -----

Our Community

Our community is dynamic. It’s diverse. There is a huge amount of aspiration. But many face significant barriers which impact their health and wellbeing

Our community is vibrant, pioneering and enterprising. Our social enterprise programme receives around 100 applications every year and we co-produce many of our activities with community members. But our community also faces increased mental health and social isolation challenges post-COVID-19. This, coupled with the cost-of-living crisis, has created an explosion of need that neither traditional services nor the health and social care system can adequately respond to.

Some of what our community faces

What we are doing

~~o~~ 48% of children in Tower Hamlets live in ~~o~~ Food Vouchers, Fuel Vouchers, poverty. 6 developing specialised social prescribing.

The blueprint for the Healthy Living

Centre: integrated preventative services, co-located GP practice and collaboration with Primary Care Networks.

Annual Report 2024

Who uses the Centre

Over the year, we have welcomed and worked with people of all ages, gender, nationalities and levels of health

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----- Start of picture text -----
Gender At least one health condition
32%
68% 29% Yes 71% No
We work with people who have complex
é PeVeTeT eye’
needs through deep and long-term support.
Women Men
Ethnicity Housing status
6%
18%
67%
Bangladeshi (Asian/Asian British) White/White European Rented Social Housing Private Tenant
Black/Black British Somali
Temporary Accomodation Living with friends / relatives
Asian/Asian British Other ethnic groups
3%
3%
3%
----- End of picture text -----

==> picture [251 x 240] intentionally omitted <==

----- Start of picture text -----
Housing status
6%
18%
67%
Rented Social Housing Private Tenant
Temporary Accomodation Living with friends / relatives
Leaseholder Other
3%
3%
3%
----- End of picture text -----

Leaseholder

30% 28% Age 25% 25% 20% 17% 15% 13% 14% 10% 5% 3% 0% all 18-24 25-34 35-44 45-54 55-64 65+

@ 10 This report covers our financial year July 2023 - June 2024

Annual Report 2024

Our approach

The Bromley by Bow Centre is a hub for our community, located in the East London Borough of Tower Hamlets

We are founded on the knowledge that social, economic and environmental factors profoundly impact health and wellbeing

It is widely accepted that in our poorest communities as much as 80% of health is directly connected to social, economic and environmental factors.

Community members enjoying a dance exercise class at our Food and the Future event.

Many in our community face loneliness, fuel poverty, food insecurity, long term health conditions, mental health challenges, inadequate housing and a lack of access to qualifications and employment. We understand that to enable people to have a healthier and better life these underlying factors need to be addressed.

We are a place and a space for our community to come, to be, and to connect

We are an open door to community and participation. Rooted on the same site since 1984, we have known our community’s challenges for 40 years. Many staff live locally and used the Centre’s services before becoming staff. Our reach and connection to the local community is unparalleled and gives us a uniquely privileged position of trust which contributes to our effectiveness.

We offer integrated and holistic

support

The solutions to the issues of health and wellbeing faced by our community lie in considering a person in their entirety -

We hosted a British Gas Energy Trust Roundtable to discuss the importance of holistic support for households experiencing fuel poverty.

focusing on each aspect of life and how they interrelate with one another. Our integrated service means that when someone comes to the Centre, they are not met with a series of individual projects and services but can navigate a seamless journey of support with consistent care.

Annual Report 2024

Measuring what matters

Whilst someone might come to us for support due to a specific problem they are facing, we often find that there is more to their situation than first appears. We measure the following six

outcomes, which our community has identified as the ingredients of 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 created a sense of community and place.

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

All our services come together to build the support needed for a thriving community.

Championing diversity, equity and inclusivity

We take an inclusive approach to our service delivery, ensuring that our space and services are tailored to the needs of our community and the inequalities experienced. Our approach has been developed with and by the community and our aim is to ensure that there is a space for everyone at the Centre.

To be inclusive to our community we need to reflect this amongst our staff and volunteers. We have a growing EDI Working Group formed of representatives from each of our teams and our Trustee Board. Our focus this year, defined by our staff and volunteers, was wellbeing and increased accessibility. The Group has introduced 2 additional Celebration Days, increased awareness of the Access to Work Scheme and commissioned an Accessibility Audit of our site.

Our Gardening Group works with adults with learning and physical disabilities and mental health support needs to develop horticulture skills and build community connections.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

Our impact

The overall wellbeing of our community is at the heart of all our work at the Centre

Our work positively impacts the wellbeing of our users, and increasingly so - last year, people using the Centre reported a 39% improvement in their wellbeing, this year this has increased to a 45% improvement.

“I keep coming back - it’s the personality of the people, new friends, an array of activities and new skills to develop!”

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

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----- Start of picture text -----
Negative wellbeing scores reported by Percentage average increase
people accessing the Centre:
45%
Before 65%
improvement in
average wellbeing
After 37%
n=521
----- End of picture text -----

We also ask what matters to community members receiving one-to-one support, following up to see if their concerns have been resolved.

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----- Start of picture text -----
People highly concerned about the Percentage average increase
matter that brought them to the Centre:
136%
88%
Before improvement in
the severity of
concerns
After 48%
n=557
10
Using the MYCAW (R) tool, these are clinically and statistically significant changes.
----- End of picture text -----

“The Centre looks at people like human beings - it is very helpful in a holistic way. I feel at home here. Everyone has time for you.”

Annual Report 2024

A closer look at some of the key indicators of our impact

These charts show the percentage of people who responded positively to the statements before and after accessing the Centre.

We offer a safe place for our community to build connection and become involved in the community.

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----- Start of picture text -----
I know what’s going on in my local community I feel part of my community
Before 30% Before 43%
After 80% After 70%
n=47 n=125
----- End of picture text -----

We support people to build their knowledge and skills, increasing the opportunities available.

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----- Start of picture text -----
I feel confident in myself I regularly make choices to support my
own health and wellbeing
Before 70% Before 55%
After 80% After 71%
n=44 n=119
----- End of picture text -----

We work with people to identify their needs and to develop plans to meet them.

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----- Start of picture text -----
I know how to get the support I need I have enough support around me
Before 23% Before 58%
After 56% After 69%
n=184 n=59
----- End of picture text -----

This report covers our financial year July 2023 - June 2024

Annual Report 2024

People Stories

We are privileged that this year many people have shared their stories and experiences with us

Aggie

Aggie My Social Prescriber gave me a sense of Supported via being, I felt more Social Prescribing present in my life.

Naseema

Naseema If anyone is thinking of starting a group I Encouraging a love would always say to of walking in her just give it a go and see community where it leads!

Read Aggie’s story

Read Naseema’s story

Ishan The support from the Centre’s Investec Beyond Supporting his Business Programme was community with fabulous and has helped safer travel my charity grow.

Arfa

Arfa I am very happy in the Centre and I am quite Developing confident when I’m confidence through here. I have made some participation very good friends.

Read Ishan’s story

Read Arfa’s story

Annual Report 2024

31

We offer a safe place and space for our community to thrive

events

Our events bring people together

Throughout the year we invited community members to share their experiences, learn new information and get to know each other. We hosted a variety of events including: the Summer Festival of Wellbeing; a Pride celebration; Social Care Chinese New Year celebration; and Fuel Poverty Awareness Day. These events provide a vital space for our community to build connections and try new and interesting activities.

Our Black History Month celebrations were organised by a community member with exhibitions, workshops and coffee mornings. A new community group WAFY (We Ain’t Finished Yet) now offers a dedicated space for Black Women at the Centre following the success of these celebrations.

1,390 attendances at events

2,746 drop-in sessions

35

open access groups

“Fantastic, non-judgemental, equal — Sha bo fe men's group. Warm hearts and not :

embarrassed to speak up about = help.” nt wget aia : ~

10,306 group attendances

Members of our ESOL programme at a Learners Celebration picnic they organised in Bob’s Park.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

We offer space for community groups and activities

We offer our community a safe space where they can come together, meet new people and access a joined-up network of activities. Strong relationships lie at the core of our model and our impact. Our Welcome Hub is often the space where these relationships are forged and developed – for many it is their first point of contact, a gateway into our services and community. It is an open door for people to find information, access Food and Fuel Vouchers and receive onward referrals to other services. It is the corner stone of our support and vitally needs ongoing and sustainable funding.

Each of our groups and activities are integrated to ensure that an individual can seamlessly move through the Centre. Many are co-produced with and led by community members. We have assisted residents to apply and manage grants up to £1000, fostering 8 community-led groups including a Men’s Pottery Group, a Heritage Walking Group and a Sewing Group.

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----- Start of picture text -----
Community members at our Aberfeldy
Big Local engagement event.
----- End of picture text -----

We have expanded our reach across the borough

In April we became the Locally Trusted Organisation (LTO) for the Aberfeldy Big Local (ABL) - we now manage the Aberfeldy Big Local Partnership. This is a way for local people to provide recommendations to improve the Aberfeldy area. An ABL engagement day raised awareness of the space and our programme delivery at the Centre. We gathered feedback about what residents would like to see in the ABL space over the following 18 months, ranging from more children’s activities to having ESOL classes.

Annual Report 2024

Social Prescriber speaking with a community member.

“My [Mental Health support worker] is absolutely fabulous. She lets me take things at my own pace with no pressure or expectations.” A Social Prescribing Client

9,037 4,091 3,147 1 to 1 sessions onward referrals/ appointments signposts

We offer integrated and holistic support

Tailored support to navigate complex personal situations

As the birthplace of Social Prescribing we have almost 30 years experience in developing and delivering our service. Since November 2023 we have been working with East London Cardiovascular Prevention (ELoPe) group to bring social prescribing to Barts Health patients across Tower Hamlets, Newham and Hackney. We screen for social deprivation and identify people navigating Cardiovascular Secondary Care with additional social, economic and environmental needs. The service aims to describe the prevalence and severity of social deprivation for patients with cardiovascular disease, trial two methods for support and monitor the outcomes of patients on completion of the pathway.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

Our specialist Mental Health Team plays a key role in supporting people on their mental health recovery journey. Unlike shorter-term generalist social prescribing interventions, we build lasting relationships with people because consistent presence enables support to be adapted, coping strategies to be built, and resilience increased. Long-term engagement is particularly vital for individuals facing serious mental health challenges, it promotes continued development and encourages a steady journey towards recovery.

Proactive and timely integrated advice

Through the collaboration of our Integrated Advice and Social Prescribing Teams, our Social Prescribing Advice Link Worker provides essential 1:1 support to individuals facing challenges around social welfare, including housing and financial difficulties. We also delivered our first group sessions to equip people with the tools to understand and navigate the welfare system.

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----- Start of picture text -----
An Advisor talking through advice literature
with a community member.
----- End of picture text -----

Our Advice Team tailors their support to each individual and to the collective problems being faced by our community. We offer 1:1 energy support, including accessing grants and negotiating payment plans and 2-hour community workshops. Many of our Advisors speak community languages, further breaking down barriers to support.

£3,013,742 £179,774 898 1,912 of Welfare of Fuel advice energy Benefits Vouchers workshop concerns addressed secured distributed attendees

19 oO

Annual Re view port 2024

“I learnt to get confidence in dealing with issues myself and I learned how to save on energy bills, like what to turn off or use less of to save money.” Energy Advice Client

We are placing Generalist Advisors within GP practices to provide a direct pathway for people to receive vital social welfare support, ensuring that these concerns are addressed as part of a holistic approach to health and wellbeing - increasing the accessibility of our service.

Through the Tower Hamlets Connect project patients can also now book appointments for advice through their GPs. This initiative supports staff from GPs to address the social determinants of health by referring patients directly to one of our dedicated advisors and booking them in for a 1:1 session within the practice itself.

Food and nutrition based services

With continuing high levels of food insecurity we have introduced several Centre-wide programmes to address the barriers to good nutrition and foster healthy eating habits. This service has been a particular focus at the Centre this year.

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----- Start of picture text -----
Food Pantry Volunteers
----- End of picture text -----

4 programmes 411 people engaged 21,098 Food Vouchers distributed 50% mental health improvement 11

We partner with organisations across Tower Hamlets to address food insecurity. Working with Alexander Rose Charity we co-hosted the Levelling Up Team and the Food, Diet and Obesity Committee to showcase the Fruit and Veg on Prescription project and its benefits to the diet and health of our community.

This report covers our financial year July 2023 - June 2024This report covers our financial year July 2023 - June 2024

Annual Report 2024

Key food and nutrition programmes

Healthy Eating Workshops - open groups focused on budgeting and cooking skills.

Cook & Company Sessions - weekly social interaction and skill development for individuals with learning difficulties and disabilities, physical disabilities, dementia and mental ill health.

Food Pantry - offers low cost, nutritious food and essential items for older members of the community (60+).

Fruit and Veg on Prescription - people with financial and health barriers are referred to nutrition support and receive weekly vouchers for fresh food. In partnership with Alexander Rose Charity.

Empowerment through capacity and asset development

Through groups, trips and 1:1 sessions our Social Care Team works with adults with learning and physical disabilities and mental health challenges to encourage and enable community inclusion and skills development. Many of those

accessing our social care service are also pivotal members of community groups and volunteers in our food pantry, Welcome Hub and garden.

3,272 Social Care attendances

Our Resident Artists collaborate with the people who access our social care services to develop creative skills. In January they showcased their artwork and the stories behind them at The Brady Centre Art Gallery in an exhibition called ‘This is Us’. Through the creative support of our art classes one lady has started her own handmade jewellery stall.

“The gardening terrace is our own special place where we can make friends and learn new things about plants.

Member of our Gardening Group reflecting on their experience.

A Pride Celebration Event organised by one of our Social Care participants and a highly active member of the Centre.

Annual Report 2024

We support people to build their knowledge and skills

ESOL classes are vital for our community

Over a quarter of adults in Bromley by Bow do not have English as a main language so our classes focus on the practical things they need to 12 thrive. From pre-entry Level to Level 2 courses we support people to access health, social and economic spaces.

ESOL Boost class engaging in a social mixing session for community building.

39 ESOL exams passed

Training, qualifications and employment achieved

We have continued supporting people with long-term illnesses and those furthest away from the job market through 1:1 support with CV writing, drop-in sessions, and support accessing the creative industry.

209 unique people supported

Employment is key for the wellbeing of our community but it is also deeply entwined with other social determinants of health, which may act as barriers both for our community and our access to funding.

Our Energy Champions and Ambassadors support their community with workshops and information about energy efficiency. Many have completed the Level 1 OCN accredited fuel poverty course giving them further knowledge to support themselves and their social networks.

6,533 hours of workshops attended 108 volunteers 1,852 volunteer hours

“The Centre enabled me to apply my learnings to the challenging situations in my life. I am in the process of regaining my strength and look forward to getting on with my allotment.”

A member of our Healthy Lifestyles group which supports personal management of long term health conditions.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

Our community is teeming with entrepreneurship

Investec Beyond Business has proven to be incredibly beneficial.... primarily due to the valuable support and encouragement provided by the Bromley by Bow Centre and Investec staff.

Hackney School of Food

Testimony from Black Women in Real Estate

Our Investec Beyond Business programme continues to be highly successful. The programme provides new social entrepreneurs with seed funding and expert advice. We have continued to cultivate strong relationships with the successful entrepreneurs, for example we have connected Travel Hands to other local health and wellbeing providers as well as our partner organisation, Bromley by Bow Health.

Meet the Dragon’s Den winners
Travel Hands WAX Atelier
Matching visually impaired people with A studio specialising in handcrafting
volunteers to make travel safer and more sustainable wax products and beeswax
accessible. candles.
Hackney School of Food Wild Mosaic
Teaching people of all ages how to create Be a rewilder without owning land by
tasty, nutritious meals from scratch. sponsoring a 3x3m plot.
Black Women in Real Estate Spiritwood
Enabling Black Women to be seen, heard and Carpentry and construction skills building for
grow in the Real Estate industry. people facing barriers to employment.

Seeing an increased need in our community for earlier enterprise support we started our UKSPF Life Science: Incubation and Mentoring programme. We equip 12 early-stage women social entrepreneurs with the tools, knowledge and support to make a meaningful impact on public health, through regular 1:1 sessions and group workshops with volunteers from JP Morgan - 4 of these women are also volunteer group leads at the Centre. The Small Business Research and Entrepreneurship Centre of the City of London has offered free membership to all our enterprise participants.

Annual Report 2024

76 partnerships

Beyond Bromley by Bow

We work with local, national and international organisations to share our knowledge, experience and expertise

Our knowledge and expertise is regularly sought out by other organisations to address challenges being faced by our health and social care system today. We hosted international visits from Singapore, Denmark, the Netherlands and Canada. We have representatives of each of our key teams supporting other local and national initiatives:

Our Advice Link Worker delivers workshops to medical and non-medical teams in the Primary Care Network.

Our Social Prescribing Team contributed significantly to the Social Prescribing Link Worker Induction Guide.

Our Enterprise Team is developing a relationship with LSE Generate, with a senior member of the LSE Generate team participating in our Investec Beyond Business programme.

Our Social Care Team regularly hosts Tea & Talk sessions with local Social Workers.

We have hosted a range of collaborative events, including with the ActEarly Consortium and British Gas Energy Trust.

20 steering groups or networks 35 Visits 500 visitors 5 research collaborations 2 evaluation reports

Collaborating with the Architecture of Pharmacies Project, we hosted the ‘Counter Culture’ exhibition - exploring the future of pharmacy spaces and how our Centre and Social Prescribing model can shape them.

oO 24 This report covers our financial year July 2023 - June 2024

Annual Report 2024

C Strtscture, Governance a Manage en

The Bromley by Bow Centre is a registered charity (number 1041653) and is constituted as a registered company 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 this year at the Annual General Meeting held on 8 July 2024 at the Centre.

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 seven times this year. Members of the Senior Leadership Team, including the CEO, Joint Heads of Delivery and Impact, Head of People and Culture, Head of Income Generation and Marketing and the Head of Finance are generally invited to attend Board meetings as well as the Annual General Meeting.

The Board comprises a minimum of six and maximum of 15 Trustees. During this year, the Centre has had 8 members of the Board – 4 Ordinary Trustees and 4 Nominated Trustees. In the context of the Board’s endeavour to add new Trustees to ensure it has sufficient depth and Ordinary Trustees remain more comfortably in the majority, and following an open trustee recruitment process being undertaken, we were pleased to welcome Naznin Chowdhury as our newest Trustee. Naznin attended the last three board meetings of the year as an observer and was confirmed in her role in July 2024.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

Trustees generally serve an initial term of three years and can be elected for a maximum of 12 years. However, at a Special General Meeting, held at the Centre on 8 July 2024, the following resolution was passed:

“An Ordinary Member of the Board, other than one of the first Ordinary Members of the Board, shall remain in office for three years and shall subsequently be subject to retirement by rotation, but shall be eligible for re-election unless at the date of the relevant Annual General Meeting the Ordinary Member of the Board has held office for four consecutive periods of three years, save that the members may agree to extend, subject to re-election in accordance with these Articles, the term of office of an Ordinary Member of the Board for a fifth consecutive period of three years by way of Special Resolution duly passed in accordance with section 283 of the Act and these Articles, in either case the Ordinary Member of the Board shall retire but shall become eligible for re-election at the third Annual General Meeting following his or her retirement.”

Following the adoption of this resolution, by exception, Trustees can now be re-elected for a fifth term.

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

Oversight of the charity, including control and accountability systems Appointing and removing the Chief Executive and establishing their remuneration package Contributing to and final approval of vision, mission and values statements

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

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

Implementation of strategy and ensuring appropriate resources are available

Reviewing and ratifying policies for reserves, risk management and investment Reviewing and ratifying leases and matters relating to property holdings

Monitoring risk management and internal compliance and control systems and assessments Monitoring the performance of the Chief Executive and the Executive Leadership Group Approving the authorisation structure applicable to capital expenditure and operational commitments

Approving and monitoring the progress of high risk projects Overall governance of the charity

Approving and monitoring financial and other reporting

Annual Report 2024

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

Fundraising

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

A member of our HKBNO Group practicing calligraphy

This report covers our financial year July 2023 - June 2024

Annual Report 2024

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.

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.

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 Effectiveness and Nomination

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.

Annual Report 2024

Michael Gould retired as a Lloyd’s insurance broker in 2000 and since then has been a volunteer for Thames North Synod of the United Reformed Church. 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 Sub-Committee.

Dr Savitha Pushparajah is a GP Partner in Bromley by Bow Health, 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-Committee.

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 amazed 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 is currently a Director 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. He chairs the Finance Sub-Committee and is also a member of the Property Sub-Committee.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

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.

Naznin Chowdhury (formally co-opted in July 2024) has over a decade of experience on urban regeneration policy and projects, including positions in central and local government. She specialises in planning and regulatory matters as they affect economic development in diverse inner-city economies. She has delivered regeneration projects utilising Government investment including: Single Regeneration Budget, New Deal for Communities, Levelling Up, Towns Fund, and UK Shared Prosperity Fund. Naznin has a Masters in European Studies from Kings College London, and a Masters in Urban Regeneration & Planning from London South Bank University. Having grown up on the Aylesbury Estate in South London (where she was previously a trustee of Creation Trust), she is acutely aware of how the lack of opportunity and empowerment can impact life chances.

Trustees during the period

31 6

Annual Report 2024

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

During this year, the Board was comprised of eight Trustees and included two female members; three members from Black, Asian and Minority Ethnic groups and three members with strong connections with the local community. Following Naznin’s appointment, out of nine trustees, three are female and four members from Black and Minority Ethnic Groups and four have strong connections to 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

Finance

Provides guidance concerning the financial management of the Centre and monitors risk management and the production and audit of the financial statements.

Property Manages property issues, which are important for the Centre given how vital our ‘space’ is to our delivery model.

Board Effectiveness

Reviews the recruitment of Trustees, succession planning for the Board, Board effectiveness, CEO’s remuneration and appraisal and other governance matters.

Whilst the Trustees are responsible for oversight over the work of the charity, day-to-day operations and decision-making continue to be delegated to Elly De Decker, the Chief Executive, who reports directly to the Board. Elly leads the Senior Leadership Team comprised of Shanara Begum and Ruth Roberts (Joint Heads of Delivery and Impact), Laura Carreira (Head of People and Culture (maternity leave from February 2024)), Hannah Pearce (Head of Income Generation and Marketing (appointed in May 2024)) and Melania Uzila (Head of Finance and Operations, left the organisation in January 2024) / John Axon (Interim Head of Finance, appointed in January 2024) / Hardish Bajwa (Head of Finance, appointed in July 2024).

oO 32 This report covers our financial year July 2023 - June 2024

Annual Report 2024

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 (as listed on page 24) 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.

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 reduced somewhat to £1,739K (£1,840K in 2023). Total unrestricted income reduced to £831K versus £3,505K in 2023. However, £2,668K of the unrestricted income raised in the previous year was profit from the sale of property asset, therefore, the £831K of unrestricted income raised this year, versus the £837K raised last year, represents a solid result given the loss of some income streams due to the sale of the HC as well as the continued challenges in the funding environment.

Annual Report 2024

The three most significant amounts of funding this year came from the British Gas Energy Trust, the Primary Care Network 6 and the London Borough of Tower Hamlets.

We continue to expand our trading income, focusing on the continued national and international interest to learn about the Bromley by Bow Model, but also a growing interest from other organisations to use our space.

Expenditure on raising funds was £269k (£521k in 2023 – the difference stems from cost savings due to restructure and vacancies)

A list of our supporters can be found on Page 74 of this report.

Forward plans

Consistent with the last few years, 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 bodies, is still an important proportion of our total income but 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 we 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 Income Generation and Marketing 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

Constant pressure on capacity due to constraints in our resources, combined with continued growth in demand for our services due to the significant challenges still faced by our community, continue to put significant stress on our dedicated staff team. As such our focus has been 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:

Two successful All-Staff Away Days – these have strengthened our collective understanding of what matters to us, what our purpose is, and our future plans as well as further integrating our service delivery teams and providing more quality time together as a Centre wide team.

Continued work on our Equity Diversity and Inclusivity approach – further expansion of the EDI Working Group, greater engagement by the Board of Trustees, and a renewed and clear focus on accessibility and staff wellbeing.

Improved internal communications – embedding of Microsoft Teams and increased engagement at monthly All Staff Centre Forums (scheduled on a different day to better meet staff needs).

More opportunity for time together – increased focus on social time with staff including celebrations for Eid, Christmas, and our 40th Anniversary Celebration but also the creation of additional spaces in the Centre for staff to gather informally.

Annual Report 2024

Embedding a clearer approach to setting objectives and managing performance:

Clear objective setting and monitoring process

Having quarterly performance conversations

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

Further developing an internal culture build on trust and transparency

Increasing volunteer support at the Centre.

Review our approach to compensation and benefits:

Reviewing job bandings to allow room for progression. Reviewing our approach to recognition (formally and informally). 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 traditionally had a number of strong relationships with various organisations. Those relationships continue to be at the core of the Bromley by Bow model. Those considered as related parties are Bromley by Bow Health (BBBH), the London Borough of Tower Hamlets (LBTH), Poplar HARCA, and the United Reformed Church (URC), 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 BBBH to provide better health and wellbeing outcomes for the local community. We obtain funding from LBTH to deliver services, including some which are the subject of competitive tendering processes. Many of the services that we deliver provide a direct benefit to the residents living in properties managed by Poplar HARCA. We support the local congregation of the URC and maintain the church building for use by the Centre and the community.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

Principal Risks and ainties Baft(xn(L 11ffL￿ OL L Walnuts ix PAItKr OITrz*. LEI deLi'COLLS_" , BANANA-_ '/,,BR6fyD.- ful Lo Lof CklÈ kK', 60% 18 MILLION 'DI￿L(lL[l 8 MEALS

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 who reports into the Finance Sub-committee 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.

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.

Risks where the implementation of mitigating actions have fallen behind schedule.

Key Risks

The Risk Register was last reviewed in November 2024. The last risk register identified ten 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 this might happen, the potential impact, our plans for managing these risks, and recent changes in the risk profile.

Safeguarding and Health and Safety – the challenges faced by our local community combined with the constant resource pressures we face mean that a constant focus on Health and Safety 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 stayed at a steady but significant level. To mitigate this risk we will continue to provide regular Safeguarding training, are regularly reviewing our Health and Safety and Safeguarding policy and regularly review our procedures. We have also undergone a Health and Safety Review, have installed CCTV, have updated our emergency software and provide space in our regular staff meetings for conversations on the topic.

Annual Report 2024

Income – through the Charity our Income 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 unfundable needs to be met or core costs to be covered. Over the next three years, it is possible that the targets for unrestricted income will not be met and the impact would be a direct reduction in charity funds. Activities to manage the risk include an increase in capacity in the Income Generation Team, regular meetings involving relevant trustees, the CEO and 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, this is likely to be the case as the level of staff turnover is expected to remain challenging and the recruitment landscape difficult, in line with external trends. The impact would be on the level of experience of staff members, potentially impacting service delivery quality. Activities to manage the risk include a continued focus on the implementation of the People and Culture Strategy and a continued focus on staff wellbeing (see page 32).

Infrastructure – there is a need to ensure that our basic infrastructure (IT and premises) remains fit for purpose. Without continued 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 started the implementation of a 2-year roadmap of investment in our IT infrastructure to bring our IT infrastructure back to where it needs to be. We are also upgrading our physical infrastructure inline with our financial constraints.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

iew Financia

The Centre’s business model

The Centre derives its income from a number of sources. Almost all our restricted income comes from our service delivery and the different programmes we offer (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 trading revenue derived from its property assets.

Results for the year

Total income decreased by 52% (66% increase in 2023, mainly due to the income generated from the sale of the assed) to £2,570k (£5,345k in 2023, including £2,668k profit from the disposal of a property asset). Like-for-like, the income dropped by 4%. Income from charitable activities fell 10% mainly due to the loss of income to deliver Learning and Employability programmes.

Income from donations and legacies stayed relatively stable (72% decrease in 2023) at £445k (£451k in 2023).

Expenditure decreased by 22% (4% decrease in 2023) from the previous year to £2,838k (£3,648k in 2023).

Overall, the total deficit for the year was £268k (£1,697k surplus in 2023, mainly due to the profit on the sale of the asset – the like-for-like operational deficit in 2023 was £571k).

As a consequence of this net current liabilities decreased from a £1,167k to £815k.

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

Annual Report 2024

Reserves

At 30 June 2024, the charity’s unrestricted funds were in surplus by £2,368k (2023: £2,636k) of which £1,628k (2023: £1,694k) represents the Centre’s fixed assets. Restricted funds at 30 June 2024 stood at zero (2022: zero). Total reserves decreased to £2,368k (2023: £2,636k), represented by tangible assets with a net book value of £1,628k (2023: £1,694k) but also cash in the bank and at hand (£1,538k in 2024 versus £2,124k in 2023).

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 retained its 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 2024 were in surplus by £815k (2023: £1,167k in surplus) and can be seen in note 19.

Trustees and management have sought to position the Centre on a path towards sustainability. 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 and trading income.

Ongoing improvements in margins on service delivery contracts.

Tight monitoring of all expenditure where these do not have a direct impact on the delivery of high quality outcomes for our clients.

Adopting a more flexible delivery model and reduce costs, mostly in support functions.

Cash and Cash Flow

Cash, which we continued to manage tightly this year, has decreased by 28% to £1,538k (2023: £2,124k) as at 30 June 2024. As some of the charity's income is received in large, irregular amounts, the funds held by the charity do fluctuate during the year, hence on-going need to the monitor cash carefully, especially given our aim to optimise interest income.

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 January 2026. This shows that the charity can pay creditors when amounts fall due without recourse to new funding.

This report covers our financial year July 2023 - June 2024

Annual Report 2024

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.

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Two community members at our Summer
Festival of Wellbeing.
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Annual Report 2024

. 5 ia » N F Statement of the : | ~ & \ ag ES : oo ee ee ; 1 Responsibilities of the ee E / a ee See ee eae fy — i ee a aaa a 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.

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 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 10th January 2025 and signed on their behalf by

Simon Bevan

Chair

oO 45 This report covers our financial year July 2023 - June 2024

Annual Report 2024

The community health and wellbeing stall at our Summer of Wellbeing Festival.

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46

Opinion

We have audited the financial statements of Bromley by Bow Centre (the ‘charitable company’) for the year ended 30 June 2024 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 2024 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.

Annual Report 2024

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

Other information

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

IIn 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

This report covers our financial year July 2023 - June 2024

Annual Report 2024

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 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.

Annual Report 2024

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, which included obtaining and reviewing supporting

documentation, concerning the charity’s policies and procedures relating to:

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

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

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

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

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

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

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

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

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

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

This report covers our financial year July 2023 - June 2024

Annual Report 2024

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: 10th January 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor

110 Golden Lane, LONDON, EC1Y 0TG

Annual Report 2024

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

~~2024~~ ~~2023~~
Unrestricted Restricted Total Unrestricted Restricted Total
Note £'000 £'000 £'000 £'000 £'000 £'000
Income from:
Donations and legacies 2 445 - 445 451 - 451
Charitable activities 3
Employability, Enterprise and Learning 11 247 258 11 438 449
Community, Health and Well-being - 481 481 - 501 501
Community Inclusion - 278 278 - 298 298
Integrated Advice - 733 733 - 582 582
Insights - - - 98 21 119
11 1,739 1,750 109 1,840 1,949
Other trading activities 4 299 - 299 271 - 271
Investment activities 76 - 76 6 - 6
831 1,739 2,570 837 1,840 2,677
Total income before profit from disposal of asset
Profit from disposal of asset 5 - - - 2,668 - 2,668
831 1,739 2,570 3,505 1,840 5,345
Total income
Expenditure on: 269 - 269 512 - 512
Raising funds
Charitable activities
Employability, Enterprise and Learning
Community, Health and Well-being
Community Inclusion
Integrated Advice		 -
-
-
-
-		 357
850
289
909
-		 357
850
289
909
-		 25
-
-
-
106		 732
706
451
918
21		 757
706
451
918
127
Insights - 2,405 2,405 131 2,828 2,959
Other trading activities 164 - 164 177 - 177
Total expenditure 6 433 2,405 2,838 820 2,828 3,648
Net Income/expenditure for the year 7 398 (666) (268) 2,685 (988) 1,697
Transfers between funds 20 (666) 666 - (988) 988 -
Net movement in funds 20 (268) - (268) 1,697 - 1,697
Reconciliation of funds:
Total funds brought forward 2,636 - 2,636 939 - 939
Total funds carried forward 2,368 - 2,368 2,636 - 2,636

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.

Annual Report 2024

Balance sheet

As at 30 June 2024

2024 2023
Note £'000 £'000 £'000 £'000
Fixed assets
Tangible assets 12 1,628 1,694
1,628 1,694
Current assets
Debtors 14 648 381
Cash at bank and in hand 1,538 2,124
2,186 2,505
Liabilities
Creditors: amounts falling due within one year 15 (1,371) (1,338)
Net current assets 815 1,167
Total assets less current liabilities 2,443 2,861
Creditors: amounts falling due after one year 17 (75) (225)
Total net assets 2,368 - 2,636
The funds of the charity: 20
Restricted income funds -
Unrestricted income funds:
Designated funds 13 13
General funds 2,355 2,623
Total unrestricted funds 2,368 2,636
Total charity funds ~~2,368~~ ~~2,636~~

Approved by the trustees on Friday 10th January and signed on their behalf by

Simon Bevan

Chair

Annual Report 2024

Cash Flow

As at 30 June 2024

2024 2023
£'000 £'000 £'000 £'000
Net income/(expenditure) for the reporting period (268) 1,697
(as per the statement of financial activities)
Depreciation charges 86 95
Fixed assets purchased (20) (36)
Fixed assets disposed - 721
Profit from disposal of asset - (3,420)
Interest paid 9 25
Decrease in debtors (267) 37
Increase/(decrease) in creditors 108 (258)
Net cash provided by / (used in) operating activities (352) (1,139)
Cash flows from investing activities:
Interest paid (9) (25)
Net cash provided by / (used in) investing activities (9) (25)
Cash flows from financing activities:
Profit from disposal of asset - 3,420
AVIVA loan - (406)
Resilience & Recovery Loan Fund - (360)
Bromley By Bow Health Partnership (75)
United Reform Church (150) (75)
Net cash provided by / (used in) financing activities (225) 2,579
Change in cash and cash equivalents in the year (586) 1,415
Cash and cash equivalents at the beginning of the year 2,124 709
Cash and cash equivalents at the end of the year 1,538 2,124

Annual Report 2024

Community members at a panel during our Food and the Future event run in collaboration with the ActEarly research consortium

—) on Statements

55

Annual Report 2024

1 Accounting policies

A) Statutory information

The Bromley by Bow Centre is a charitable company limited by guarantee and is incorporated in the UK. The registered office address is St Leonards Street, Bromley by Bow, London, E3 3BT.

B) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

C) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

D) Going concern

There was a net movement in funds deficit for the year of £268k. At the balance sheet date, the charity had bank balances totalling £1,538k and net current assets of £815k.

The Board has considered the cash flow forecast to January 2025. This shows that, based on reasonable estimates of inflows, the charity can pay trade creditors and loan payments when amounts fall due without recourse to new funding.

E) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Annual Report 2024

1 Accounting policies (continued)

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred; else the income is deferred until the above criteria is fulfilled, normally as per the funder's written conditions.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

F) Donations of cash, gifts, services and facilities

Cash donations are recognised as income upon entitlement.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

G) Interest receivable

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

H) Fund accounting

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

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Annual Report 2024

1 Accounting policies (continued)

I) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

J) Allocation of support costs

Resources expended are included in the statement of financial activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. Other costs, which are attributable to more than one activity, are apportioned across cost categories. The basis of allocation reflects the staff resources absorbed by that activity.

Charitable expenditure comprises those costs incurred by the charity in the delivery of services to its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

K) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Annual Report 2024

1 Accounting policies (continued)

L) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Land is not depreciated. The depreciation rates in use are as follows:

Freehold Buildings 2% of cost per year Computer Equipment 20-25% of cost per year Other Equipment 20% of cost per year Fixtures and Fittings 10-20% of cost per year

M) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

N) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

O) Creditors and provisions

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

P) Pensions

Contributions payable to employees' private defined contribution pension plans are charged to the statement of financial activities in the period to which they 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 value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Annual Report 2024

2 Income from donations and legacies

2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£'000 £'000 £'000 £'000 £'000 £'000
Donations 445 - 445 451 - 451
445 - 445 451 - 451

3 Income from charitable activities

Total funding from Government sources is £0.7M (2023: £0.9M).

2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£'000 £'000 £'000 £'000 £'000 £'000
Employability, Enterprise and Learning
ESOL New City College
GLA London Youth Fund		 -
-		 13
-		 13
-		 -
-		 93
42		 93
42
Ingeus Central London Works - 11 11 - 69 69
Investec - 112 112 - 89 89
LCF Creative Communities - 19 19 - 82 82
Others 11 92 103 11 63 74
11 247 258 11 438 449
Community, Health and Well-being
Barts Social Prescribing - 32 32 - - -
Cost of Living Fund - 36 36 - - -
ELFT - 90 90 - 137 137
Lottery Community Fund - 122 122 - 125 125
Social Prescribing - 152 152 - 157 157
Others - 49 49 - 82 82
- 481 481 - 501 501
Community Inclusion
Bow Foodbank
Heat Hub - - - - 30 30
Network - Population Health -
-		 -
10		 -
10		 -
-		 50
55		 50
55
Social Care - 170 170 - 121 121
Space to Connect - 25 25 - - -
Sports Funding - Coaches - 33 33 - - -
Welcome Hub (formerly Connection Zone) Welcome Hub (formerly Connection Zone) - 22 22 - 35 35
Others - 18 18 - 7 7
- 278 278 - 298 298

60 @

Annual Report 2024

3 Income from charitable activities (continued)

Integrated Advice
BGET - More Energy - 47 47 - 41 41
BGET Energise - 261 261 - 174 174
Eastend Homes - 64 64 - 64 64
Energy Redress - East End Energy Fit 2 - - - - 156 156
Energy Redress (Empower You Too) - - - - 15 15
LBTH/Age UK - IAA - 31 31 - 29 29
LCF Advice & Information - 17 17 - 52 52
Life After Debt - 92 92 - - -
People Powered - 155 155 - - -
Power Bank - 27 27 - - -
Others - 39 39 - 51 51
~~-~~ ~~733~~ ~~733~~ ~~-~~ ~~582~~ ~~582~~
Insights
Consultancy - - - 24 - 24
Regional Facilitator - - - - 21 21
Research, Evaluation and Training - - - 57 - 57
Tours - - - 17 - 17
- - - 98 21 119
11 1,739 1,750 109 1,840 1,949

4 Other trading income

2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£'000 £'000 £'000 £'000 £'000 £'000
Rent and service charge income 216 - 216 271 - 271
Other Trading Income 83 - 83 - - -
299 - 299 271 - 271

5 Profit from disposal of asset

2,024 2,023
Unrestricted Restricted Total Unrestricted Restricted Total
£'000 £'000 £'000 £'000 £'000 £'000
Sale of Asset - - - 3,420 - 3,420
Less: costs of sale of asset
NBV of asset - - - 722 - 722
Legal advice for Trustees (Russell Cooke) - - - 1 - 1
Aviva Legal Fees - - - 2 - 2
Aviva Early Redemption Fee - - - 27 - 27
- - - 752 - 752
Net profit from sale - - - 2,668 - 2,668

Annual Report 2024

6a Analysis of expenditure (current year)

Raising
funds
£'000		 Employability,
Enterprise, &
Learning
£'000		 Community,
Health &
Wellbeing
£'000		 Community
Inclusion
£'000		 IntegratedInsights
Advice
£'000		 Insights
Insights
£'000		 Trading
activities
£'000		 Gross
Governance
costs
£'000		 Other
Support
costs
£'000		 2024
Total
£'000		 2023
Total
£'000
Staff costs 130 215 462 134 506 - 75 - 571 2,093 2,669
Service delivery costs 40 (22) 37 53 19 - - - - 127 373
Centre delivery costs
Facilities, Property, Health and Safety - - - - - - 32 - 124 156 158
Finance and Accounting - - - - - - - 25 145 170 174
General Management, Other - - - - - - - - 116 116 147
HR, Wellbeing and Hospitality - - - - - - - - 122 122 77
Impact Management - - - - - - - - 4 4 -
Information and Communications - - - - - - - - 49 49 50
170 193 499 187 525 - 107 25 1,131 2,837 3,648
Governance costs 2 4 8 2 8 - 1 (25) - - -
Support costs 97 160 343 100 376 - 56 - (1,131) 1 -
Total expenditure 2024 269 357 850 289 909 - 164 - - 2,838 3,648
Total expenditure 2023 512 757 706 451 918 127 177 - - 3,648

Annual Report 2024

6b Analysis of expenditure (previous year)

Employability, Community, Gross Other
Raising Enterprise, & Health & Community IntegratedInsights Insights Trading Governance Support 2023 2022
funds Learning Wellbeing Inclusion Advice Insights activities costs costs Total Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Staff costs 275 387 358 271 530 38 79 - 731 2,669 2,772
Service delivery costs 54 112 110 - 34 63 - - - 373 492
Centre delivery costs
Facilities, Property, Health and Safety - - - - - - 46 - 112 158 109
Finance and Accounting General - - - - - - - 29 145 174 226
Management, Other - - - - - - - - 147 147 54
HR, Wellbeing and Hospitality - - - - - - - - 77 77 70
Information and Communications - - - - - - - - 50 50 39
329 499 468 271 564 101 125 29 1,262 3,648 3,762
Governance costs 4 6 5 4 8 1 1 (29) - - -
Support costs 179 252 233 176 346 25 51 - (1,262) - -
Total expenditure 2023 512 757 706 451 918 127 177 - - 3,648 3,762
Total expenditure 2022 419 792 646 413 979 364 149 - - 3,762

Annual Report 2024

7 Net income/(expenditure) for the year

2024 2023
£’ooo £’000
Depreciation 86 95
Profit on sale of assets _ 2,669
Operating lease rentals: Property 13 17
Auditors’ remuneration (excluding VAT)
Audit 18 17
VAT 4 5
Under accrual from prior year 3 1
124 2,804

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

Staff costs 2024 2023
£’ooo £’000
Salaries and wages 1,835 2,112
Redundancy and termination costs 35 269
Social security costs 168 210
Employer’s contribution to pension schemes 55 78
2,093 2,669

Employees receiving employee benefits

2024 2023
No. No.
£80,000 - £89,999 1 1
£120,000 - £130,000 _ 1
1 2

The total employee benefits including pension contributions and employers' NIC of the key management personnel were £300,014 (2023: £349,841).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity, including reimbursement of travel (2023: £nil).

Annual Report 2024

9 Staff numbers

Average number of employees (head count based on number of staff employed)

2024 2023
No. No.
Cost of raising funds 3 5
Employability, Enterprise and Learning 7 12
Community, Health and Wellbeing 10 13
Community Inclusion 12 11
Integrated Advice 14 13
Support 20 18
66 72

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 (2023: £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 £143,598 (2023: £66,789) 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 £236,500 (2023: £239,500) from Poplar HARCA. One of the charity's Trustees, Mr Paul Brickell, is the chair of Poplar HARCA.

During the year, the charity paid rent of £12,375 (2023: £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 £300 from 1 Trustee (2023: £5,959 from 2 Trustees).

Annual Report 2024

11 Taxation

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

12 Tangible fixed assets

Land & Plant & Fixtures & Computer
Buildings Machinery Fittings Equipment Total
£’000 £’000 £’000 £’000 £’000
Cost or valuation
At the start of the year 2,731 77 50 129 2,987
Additions _ _ _ 20 20
Disposals _ _ _ (2) (2)
At the end of the year 2,731 77 50 147 3,005
Depreciation
At the start of the year 1,065 77 35 116 1,293
Charge for the year 80 80 2 4 86
Disposals _ _ _ (2) (2)
At the end of the year 1,145 77 37 118 1,694
Net book value
At the end of the year 1,586 _ 13 29 1,628
At the start of the year 1,666 _ 15 13 1,694

Land and Buildings

Land and Buildings
Park Mary Buss Bromley by Enterprise
Land Development House Bow Centre Barn Total
£’000 £’000 £’000 £’000 £’000 £’000
Cost or valuation
At the start of the year 235 212 24 1,832 428 2,731
Additions _ _ _ _ _ _
At the end of the year 235 212 24 1,832 428 2,731
Depreciation
At the start of the year _ 74 11 829 151 1,065
Charge for the year _ 4 _ 68 8 80
At the end of the year _ 78 11 897 159 1,145
Net book value
At the end of the year 235 134 13 935 269 1,586
At the start of the year 235 138 13 1,003 277 1,666

66 )

Annual Report 2024

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. 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.

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 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, Black Women in Real Estate Ltd, Mosaic Rewilding Ltd, Hackney School of Food CIC, Spiritwood LDN CIC, Wax Atelier Labs CIC and Skate Gals & Pals CIC. It has not been possible to arrive at a fair market value of these shareholdings at 30 June 2024, which in any event is not judged to be material.

14 Debtors

14 Debtors
2024 2023
£’000 £’000
Trade debtors 391 319
Other debtors 7 _
Accrued income 250 62
648 381

15 Creditors: amounts falling due within one year

2024 2023
£’000 £’000
Bromley by Bow Health Loan _ 75
Trade creditors 81 37
Taxation and social security 191 259
Other creditors 597 481
Accruals 65 114
Deferred income (Note 15) 437 372
1,371 1,338

Annual Report 2024

16 Deferred income

16 Deferred income
2024 2023
£’000 £’000
Balance at the beginning of the year 372 437
Amount released to income in the year (372) (437)
Amount deferred in the year 437 372
Balance at end of year 437 372

17 Creditors: amounts falling due after one year

2024 2023
£’000 £’000
URC Loan Fund 75 225
75 225

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

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 2024, there were 48 (2023: 49) 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 £55,506 (2023: £77,738).

Annual Report 2024

19a Analysis of net assets between funds (current year)

Fixed Net Current Long term 2024
Assets Assets liabilities Total
Unrestricted Funds £’000 £’000 £’000 £’000
Designated Funds 13 _ _ 13
General Funds 1,615 815 (75) 2,355
Net assets at the end of the year 1,628 815 (75) 2,368

19b Analysis of net assets between funds (prior year)

Fixed Net Current Long term 2024
Assets Assets liabilities Total
Unrestricted Funds £’000 £’000 £’000 £’000
Designated Funds 13 _ _ 13
General Funds 1,681 1,167 (225) 2,623
Net assets at the end of the year 1,694 1,167 (225) 2,636

20a Movements in funds (current year)

At the start At the end
of the year Income Expenditure Transfers of the year
£'000 £'000 £'000 £'000 £'000
Restricted funds:
Charitable activities
Employability, Enterprise and Learning - 247 (357) 110 -
Community, Health and Wellbeing - 481 (850) 369 -
Community Inclusion - 278 (289) 11 -
Integrated Advice - 733 (909) 176 -
-
Other: -
Donations and legacies - - - - -
Total restricted funds - 1,739 (2,405) 666 -
Unrestricted funds:
Designated funds:
Mary Buss House 13 - - - 13
Total designated funds 13 - - - 13
General funds 2,623 831 (433) (666) 2,355
Total unrestricted funds 2,636 831 (433) (666) 2,368
Total funds 2,636 2,570 (2,838) - 2,368

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.

Annual Report 2024

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.

20b Movements in funds (previous year)

At the start At the end
of the year Income Expenditure Transfers of the year
£'000 £'000 £'000 £'000 £'000
Restricted funds:
Charitable activities
Employability, Enterprise and Learning - 438 (732) 294 -
Community, Health and Wellbeing - 501 (706) 205 -
Community Inclusion - 298 (451) 153 -
Integrated Advice
Insights		 -
-		 582
21		 (918)
(21)		 336
-		 -
-
-
Other: -
-
Donations and legacies - - - -
Total restricted funds - 1,840 (2,828) 988 -
Unrestricted funds:
Designated funds:
Mary Buss House 13 - - - 13
Total designated funds 13 - - - 13
General funds 926 3,505 (820) (988) 2,623
Total unrestricted funds 939 3,505 (820) (988) 2,636
Total funds 939 5,345 (3,648) - 2,636

21 Operating lease commitments (lease)

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Land & buildings 2024 2023
£’000 £’000
Expiry date:
Less than one year 12 16
One to five years _ _
12 16
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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.

Annual Report 2024

22 Operating lease commitments (lessor)

At 30 June 2024 the charity had amounts receivable under non-cancellable operating leases for each of the following periods:

Land & buildings

Land & buildings
Land & buildings 2024 2023
£’000 £’000
Expiry date:
Less than one year 2 19
One to five years 6 6
Over five years 15 15
23 40

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 2024 the charity held the following amounts as a conduit for the Beyond Business Programme sponsored by Investec. These amounts will be paid to the winning social enterprises when they are ready to draw down the funds available to them.

2024 2023
£’000 £’000
105 110

26 Post Balance Sheet Events

The charity held a COIF Charities Deposit Fund for repairs and maintenance which passed over to the health centre upon sale in early 2023. As at the year end the sum of £150,011 was held by the charity under other creditors. In November 2024 the fund was repaid in full to NHS Property Services.

Annual Report 2024

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Members of our Sewing Class,
one of our Participatory
Budgeting Groups
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Our funders

As a charity we are reliant on the generosity of our community, funders and partnerships to continue doing the essential work that we do with our community

We are deeply grateful to everyone who funds our work and ensures that we can continue to support our community. A full list of our funders and partners can be found on our website here. Below are some of our longest standing and biggest funders of our services and projects.

oe 72 This report covers our financial year July 2023 - June 2024

Annual Report 2024

Legal and administrative information

Directors

Simon Bevan Paul Brickell Michael Gould Dr Savitha Pushparajah Obafemi Shokoya David Smeed Rachel Smith Abdul Mannan Naznin Chowdhury (formally appointed in July 2024)

Secretary

Graham Rowbotham

Chief Executive

Elly De Decker

Company Number

2942840

Charity Number

1041653

Registered Office

Bromley by Bow Centre, St Leonard’s Street, London, E3 3BT

Web Address

https://www.bbbc.org.uk/

Solicitors

Stephenson Harwood LLP 1 Finsbury Circus, London, EC2M 7SH

Auditors

Sayer Vincent LLP Chartered Accountants and Registered Auditors 110 Golden Lane, London, EC 1Y 0TG

Bankers

Barclays Bank plc

35-38 South Street, Romford, Essex, RM1 1RH

Annual Review 2024

Thank you to our staff, volunteers, partners and funders for creating this year’s activity with us.

We invite you to be part of our story next year. We remain dedicated to addressing the inequalities of health and livelihoods to which we bear witness every day and we invite you to join us. Whether as a volunteer, a partner or supporter, every contribution is needed to build a stronger and more optimistic story in next year’s review.

bbbc.org.uk Charity number 1041653 See our funders

References:

1 London’s Poverty Profile, Trust for London, 2024; 2 DWP, 2024; 3 Department for Energy Security and Net Zero, 2024 (2023 data); 4 DWP, 2024; 5 PHE Fingertips, 2024 ; 6 Trust for London, 2024; 7 ONS, 2021; 8 LBTH, 2022; 9 PHE Fingertips, 2024; 10 Statistical significance through a paired t-test. Clinical significance as cited by Polley M, Seers H, Cooke H, Hoffman C, Paterson C, 2007; 11 Alexander Rose Charity. 2024; 12 ONS, 2021

Photo credits:

Sylvie Belbouab; Tom Griffiths; Aleks Kowara; Bill Snaddon

Annual Review 2024