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← The Bromley By Bow Centre

2025-06-30-accounts

Annual Report 2024-25

Trustees’ Annual Report For the year ended 30 June 2025

Charity number: 1041653 Company number: 2942840 Website: www.bsl.org.uk

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CONTENTS

Trustees’ Annual Report …… 3

Independent Auditor’s Report …… 29

Statement of Financial Activities (incorporating an income and expenditure account) …… 32

Balance Sheet …… 33

Statement of Cash Flows …… 34

Notes to the Financial Statements …… 35

Thank You to Our Funders …… 45

Reference and Administrative Details …… 46

This Annual Report covers our financial year July 2024 to June 2025

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TRUSTEES’ ANNUAL REPORT

A. Chair’s Introduction

Drawing hope and confidence from our community

The Bromley by Bow Centre supports vulnerable individuals and families in one of London’s most deprived boroughs. Last year, we helped 5,128 individuals, plus their families and households. We support people to build financial resilience and work alongside them to improve emotional and physical health, placing emphasis on gaining skills and qualifications to access employment. As this report shows, the wider effects of our work to local residents, households and the community are transformational.

Our welcoming park sits at the heart of the community, where people connect and break free of the social isolation, loneliness and barriers to opportunity found in too many parts of London – and the country.

For 40 years, thanks to community-led action and leadership from local residents and our brilliant funders and partners, the Centre has been transforming lives for the better. Today, however, like many charities, we face an economic and fundraising climate tougher than any in our history. We have worked hard over the last three years to ensure we have the right foundations in place for our impact to be sustainable: including the sale of the on-site Health Centre, a far-ranging restructure and an increased focus on trading income. As a result, our deficit has decreased significantly. However, the path to long-term sustainability and a break-even position in the current climate is not an obvious one.

As such, and after much consideration, trustees concluded that it is in the best interest of the community for BBBC to join forces with another organisation. Joining with another organisation not only enables costs to be shared but also opportunities for growth to be optimised and our voice to be amplified. Trustees chose to look for the right partner proactively, from a position of relative stability and strength. As a result of a robust process, trustees decided to approve a merger with Family Action, the UK's largest family support charity. The charity is over 150 years old, wellestablished across the country and delivers over 150 services. Impressively, given the breadth and scale of its services, the majority of Family Action’s work is very much embedded in local communities.

The merger is an opportunity to preserve all that is good at Bromley by Bow Centre, to strengthen our impact and to keep delivering support that changes lives across Tower Hamlets. Our service delivery will continue without interruption and we look forward to working with Family Action colleagues to explore how we can extend our reach to even more people locally.

We are signing off this report today, 26 February 2026, and our merger with Family Action will take effect on 1 March 2026.

Thank you to everyone involved with the Centre, we appreciate you and your efforts. We welcome more friends and partners to join us and Family Action in the coming years for what is going to be a period of positive and lasting change.

Simon Bevan Chair

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Trustees’ Annual Report Year ended 30 June 2025 B. Annual Review

This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Trustees’ Annual Report Year ended 30 June 2025

C. Structure, Governance and Management

The Bromley by Bow Centre is a registered charity (number 1041653) and is constituted as a company registered in England & Wales (number 2942840) and limited by guarantee. Its objects and powers are set out in its Memorandum and Articles of Association which were adopted in 1994. The Articles of Association were updated 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 for formal meetings as well as our usual Board away day in person and or via Teams six 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 these formal regular Board meetings as well as the annual general meeting.

Given some of the financial challenges the Centre has been facing and some of the strategic options the Trustees have been considering, the board met for extraordinary meetings, on Teams, on an ad hoc basis during much of the financial year. Those meetings were attended by those Trustees available on the day as well as the CEO.

The Board comprises a minimum of six and maximum of 15 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 was confirmed in her role in July 2024.

We sadly lost Mike Gould this year, who died in March. Mike served as a trustee, appointed by the United Reformed Church (URC), for 13 years. His dedication to the Centre was exemplary and our thoughts are with his family and loved ones as they come to terms with this great loss. Mike is fondly remembered by all at the Centre.

After a combined 20 years as a trustee, appointed by Poplar HARCA, Paul Brickell resigned in May of this year. Paul has been instrumental in solidifying the relationship between the Centre and Poplar HARCA, a fervent champion of our integrated model of support across health and well-being, with housing firmly embedded.

Both the URC and Poplar HARCA are yet to appoint new trustees.

This Annual Report covers our financial year July 2024 to June 2025

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Savitha Pushparajah, appointed on our board by Bromley by Bow Health, resigned in October 2025, following her move abroad as part of a sabbatical. She served the Centre as a trustee for over 15 years. She was instrumental at helping us forge ever deeper relationships with our health partners, across our local area.

Our board was strengthened, that same month, by Graham Rowbotham. Graham has served as the Centre’s Secretary for 17 years and as such has an in-depth understanding of the Centre, and our Governance in particular.

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.

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.

This Annual Report covers our financial year July 2024 to June 2025

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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 Skokoya is the board representative on the Equity, Diversity and Inclusion group; Simon Bevan and Rachel Smith support the CEO and SLT specifically in the strategic conversations and 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 Sub-Committee but remains a member of the Finance Sub-Committee and joined the Property Sub-Committee in May 2025.

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 careers 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 chaired the Board’s Property Sub-Committee.

Michael Gould retired as a Lloyd’s insurance broker in 2000 and, since then, had been a volunteer for Thames North Synod of the URC. His main involvement was in respect of property and finance, and he brought this knowledge, along with governance and insurance experience, to the Centre. Mike was the Nominee of the URC and became a Trustee on 29 March 2012. Mike was also a member of the Board’s Property Sub-Committee.

Dr Savitha Pushparajah is a GP Partner in BBBH, which has a close working relationship with the Centre and operates three GP surgeries and a walk-in centre in Tower Hamlets. She has 16 years'

This Annual Report covers our financial year July 2024 to June 2025

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experience providing healthcare to patients and works closely with communities in Tower Hamlets. Savitha has a good understanding of the health inequalities and social needs of the community and brought this knowledge to the Board, which she joined as a Trustee on 26 March 2009. She was the Safeguarding lead on the Board and a member of the Board Effectiveness and Nomination SubCommittee and 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 astounded by what he experienced. It wasn’t long before he agreed to join the Trustee Board. Obafemi is the Board’s representative on the Centre’s Equity, Diversity and Inclusion Group and also a member of the Board Effectiveness and Nomination Sub-Committee.

David Smeed is an executive level businessman with extensive experience of strategic business development, throughout Europe, in healthcare, property and property services. In the past, his roles have included Director of PHAST CIC, a public Health consultancy, 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 SubCommittee; he is now no longer chair but still a member of that committee. He chairs the Finance SubCommittee and the Property Sub-Committee.

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 and is also a member of the Property 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.

Graham Rowbotham (co-opted in October 2025) has been the company secretary of the Bromley by Bow Centre for 17 years, providing support to the board and ensuring the Centre complies with its regulatory obligations. He is also a trustee of the Centre. He provides similar support for other charities. Before retiring Graham’s career was mainly involved in similar work for law firms in the City of London.

This Annual Report covers our financial year July 2024 to June 2025

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Trustees during the period

Board Sub-Committees Board Sub-Committees Board Sub-Committees
Finance Property Board
Effectiveness
Simon Bevan Member Member
(joined in May
2025)
Paul Brickell Resigned in May
2025		 Chair
Michael Gould Deceased in
March 2025		 Member
Abdul Mannan
Savitha
Pushparajah		 Resigned in
October 2025		 Member Member
Obafemi Shokoya Member
David Smeed Chair Member (Chair
from May
2025))		 Member
Rachel Smith Member
(Joined in May
2025)		 Chair
Naznin Chowdhury Joined in July
2024

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

During this year, the Board was comprised of nine Trustees and included three female members; four members from Black, Asian and Minority Ethnic groups and four members with strong connections with the local community.

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

Board sub-committees

There are three Board sub-committees, which are important for the effectiveness of the Board as a whole. The Board makes every effort to ensure all sub-committees comprise the right balance of appropriately skilled trustees and SLT members. In order to ensure there is a consistency of approach across the sub-committees, the Treasurer attends all the meetings.

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

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

This Annual Report covers our financial year July 2024 to June 2025

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Heads of Delivery and Impact), Hannah Pearce (Head of Income Generation and Marketing) and John Axon (Interim Head of Finance, appointed in March 2025).

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 15) 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.

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 increased somewhat to £2,314k (£1,739k in 2024), a significant achievement given the challenging funding climate we operate within. However, total unrestricted income reduced to £718k versus £831k in 2024. It remains difficult for us to attract additional unrestricted income, a challenge faced by many similar organisations in the sector. The three most significant amounts of funding this year came from Poplar HARCA, Investec and 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 and members of the community to use our space.

Expenditure on raising funds was £265k (£270k in 2024).

A full list of our supporters can be found here:

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

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, is still an important proportion of our total income – remains under pressure while competition for other types of income is severe. Our aim continues to be to diversify our funding by attracting new funders and donors and look to at least maintain our current level of activity in all the main service delivery priority areas.

Within the area of philanthropy and unrestricted income, we are focusing on the considerable networks of senior leaders from across sectors who are already aligned with the Centre’s work. We are also driving

This Annual Report covers our financial year July 2024 to June 2025

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our approach with corporate businesses and developing new relationships that can provide long-term support year-on-year.

Framework of good practice

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

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

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

People and culture strategy

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

In the next financial year, we will continue to focus on:

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

  2. Increasing volunteer support at the Centre

  3. Review our approach to compensation and benefits

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

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

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

Remuneration policy

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

This Annual Report covers our financial year July 2024 to June 2025

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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 have a right to 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 Annual Report covers our financial year July 2024 to June 2025

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D. Principal Risks and Uncertainties

Risk management

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

The Board is particularly interested in:

Key risks

The Risk Register was last reviewed in November 2025.

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, the potential impact, our plans for managing these risks and recent changes in the risk profile.

This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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E. Review of Financial Position

The Centre's business model

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

Results for the year

Total income increased by 19.6% to £3,032k (£2,535k in 2024). Income from charitable activities increased by 32.7%, a positive result given the continued challenges in the funding environment. The biggest changes were increased delivery in Integrated Advice (44.7%) due to securing the Power Bank, Energy Boost and Home Energy Advice (HEAP) projects; and Aberfeldy under Enterprise, Employability and Learning teams.

Income from donations and legacies were £466k, a slight increase of 4.7% from the previous year (£445k in 2024).

As a result of increased delivery, expenditure increased by 13.0% compared to the previous year (£2,850k in 2024) to £3,219k. Charitable expenditure increased 13.4% to £2,740k from £2,416k in the previous year.

Overall, the total deficit for the year was £187k, an improvement of 40.3% from the previous year at £128k (£315k deficit in 2024) and is the result of the restructure during 2022/23.

Unrestricted reserves at the start of the year were £2,321k and reduced to £2,134k at the end of the year.

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

Nature Source 2024-
25		 2023-
24		 2022-
23		 2021-
22		 2020-
21
Restricted Statutory 51% 38% 22% 54% 41%
Corporate 3% 20% 8% 12% 11%
Housing
Associations and
Social Landlords		 13% 9% 5%
Trusts 10% 1% 0% 4% 15%
Total 76% 68% 35% 73% 69%
Unrestricted Income from hire of
space		 5% 11% 5% 10% 8%
Other activities 18% 21% 60% 17% 23%
Total 24% 32% 65% 27% 31%

This Annual Report covers our financial year July 2024 to June 2025

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Reserves

At 30 June 2025, the charity’s unrestricted funds were in surplus by £2,134k (2024: £2,321k) of which £1,604k (2024: £1,628k) represents the Centre’s fixed assets. Restricted funds at 30 June 2025 stood at zero (2024: zero). Total reserves decreased to £2,134k (2024: £2,321k), represented by tangible assets with a net book value of £1,604k (2024: £1,628k) but also cash in the bank and at hand £770k in 2025 versus £1,539k in 2024. The change in cash balances is from a reduction in creditors of £1,396k in 2024 to £939k in 2025.

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 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 2025 were in surplus by £530k (2024: £768k in surplus) and can be seen in note 18.

Trustees and management have sought to position the Centre on a path towards sustainability. Key targets are:

Going concern

As a result of the merger with Family Action, the Bromley by Bow Centre entity is not a going concern as it will cease trading on the date of the merger. However, as the activities of the charity will continue as part of Family Action, the accounts have been prepared on going concern basis (rather than on a break up basis). Please see further details in section F on the following page.

This Annual Report covers our financial year July 2024 to June 2025

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F. Merger

The Bromley by Bow Centre is and always has been dedicated to enabling its local community to thrive. Our core aim is to ensure our impact is there for the long-term.

The Centre, as many other organisations in the sector has, for some years now, struggled to get to a break-even position. We have worked tirelessly over the last three years to ensure we have the right foundations in place for our impact to be sustainable: including the sale of the on-site Health Centre, a far-ranging restructure and an increased focus on trading income. As a result, the deficit has decreased significantly. However, the path to long-term sustainability and a break-even position, in the current climate, is not an obvious one.

As such, and after much consideration, trustees concluded that it is in the best interest of the community for BBBC to join forces with another organisation. Joining with another organisation not only enables costs to be shared but also opportunities for growth to be optimised and our voice to be amplified.

Trustees chose to look for the right partner proactively, from a position of relative stability and strength. We undertook a comprehensive exercise to look for a potential partner, specifically with the following attributes:

As a result of a robust process, trustees decided to approve a merger with Family Action, the UK's largest family support charity. The charity is over 150 years old, well-established across the country and delivers over 150 services. Impressively, given the breadth and scale of its services, the majority of Family Action’s work is very much embedded in local communities.

The merger is an opportunity to preserve all that is good at Bromley by Bow Centre, to strengthen our impact, and to keep delivering support that changes lives across Tower Hamlets. Our service delivery will continue without interruption and we look forward to working with Family Action colleagues to explore how we can extend our reach to even more people locally.

We envisage the merger will go through at the start of March 2026. We are finalising the legal details at the moment as well as planning the operational implications to ensure the transition runs smoothly.

The plan is for the merger to take shape as follows, as agreed by both boards:

In terms of Leadership and Governance, it is anticipated that current line management and reporting structures will remain broadly consistent following the transfer (specific arrangements will be confirmed as part of the TUPE process).

All staff, in post at the time of the transfer, will be TUPE’d over to Family Action. Elly De Decker, current CEO, will remain in post until the end of March 2026.

This Annual Report covers our financial year July 2024 to June 2025

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Family Action intends to go live with the recruitment of a new Assistant Director (AD) imminently to provide local leadership to the Centre following Elly’s departure. The current Senior Leadership Team (SLT) is due to remain in place.

The AD will report to the Deputy Director of Services and Innovation for London, who reports into the Director of Services and Innovation. Where it is identified that there are central support functions and roles, it is anticipated that these will be integrated with Family Action’s central support functions and that line management for these areas and roles will be provided via these teams.

For example, we foresee HR roles being managed within the Family Action HR team. This transition of line management may not happen on day one following the transfer. This will be assessed on a case-bycase basis over the coming month once Family Action has a clearer understanding about roles and individuals who are expected to transfer. There is an absolute commitment to manage the transition thoughtfully and carefully to support the continuation of services and operations, without any disruption or interruption.

BBBC, as a dormant charity, will retain two of our current trustees to ensure continuity.

BBBC’s local founding partners – Bromley by Bow Health, Bromley by Bow United Reform Church and Poplar HARCA – have been involved in the process and are very supportive of the merger.

As a result of the merger with Family Action, the Bromley by Bow Centre entity is not a going concern as it will cease trading on the date of the merger. However, as the activities of the charity will continue as part of Family Action, the accounts have been prepared on going concern basis (rather than on a break up basis).

This Annual Report covers our financial year July 2024 to June 2025

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G. Statement of Responsibilities of the Trustees

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

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

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

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 26 February 2026 and signed on their behalf by

Simon Bevan

Chair

This Annual Report covers our financial year July 2024 to June 2025

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INDEPENDENT AUDITOR’S REPORT

To the members of Bromley by Bow Centre For the year ended 30 June 2025

Opinion

We have audited the financial statements of Bromley by Bow Centre (the ‘charitable company’) for the year ended 30 June 2025 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:

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.

Emphasis of matter – going concern

Without modifying our opinion, we draw attention to the disclosures in the trustees’ annual report and note 1d of the financial statements that show that the charitable company is no longer a going concern.

The trustees of Bromley by Bow Centre have approved a merger with Family Action. Under this arrangement, all activities, assets and liabilities will be transferred to Family Action on 28 February 2026. The charitable company’s ongoing operations will cease, and the entity will become a dormant subsidiary of Family Action. As the activities will be continuing within Family Action, the trustees have not had to make any adjustments to these accounts, and so the basis of preparation is as a going concern.

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.

This Annual Report covers our financial year July 2024 to June 2025

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Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

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.

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:

This Annual Report covers our financial year July 2024 to June 2025

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

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

Use of our report

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

Farrah Kitabi (Senior statutory auditor)

Date: 27 February 2026

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

This Annual Report covers our financial year July 2024 to June 2025

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STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT

This Annual Report covers our financial year July 2024 to June 2025

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BALANCE SHEET

Company number: 02942840

This Annual Report covers our financial year July 2024 to June 2025

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STATEMENT OF CASH FLOWS

This Annual Report covers our financial year July 2024 to June 2025

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NOTES TO THE FINANCIAL STATEMENTS

Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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Bromley by Bow Centre Notes to the Financial Statements Year ended 30 June 2025

This Annual Report covers our financial year July 2024 to June 2025

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REFERENCE AND ADMINISTRATIVE DETAILS

This Annual Report covers our financial year July 2024 to June 2025

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Directors

Simon Bevan 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

Website

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, EC1Y 0TG

Bankers

Barclays Bank plc 35-38 South Street Romford, Essex, RM1 1RH

This Annual Report covers our financial year July 2024 to June 2025

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This Annual Report covers our financial year July 2024 to June 2025

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