Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITY NO. 1071065 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD Contents** ||**Page**| |---|---| |Legal and administrative information|1| |Report of the trustees|2-7| |Report of the Reporting Accountants|8| |Statement of Financial Activities|9| |Balance Sheet|10| |Accounting policies|11-12| |Notes forming part of the financial statements|13-16| |Detailed income & expenditure account|17| _**Page 17 does not form part of the statutory accounts.**_ Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD Legal and Administrative Information** **Trustees** Gillian Self (Chair) Alice Piller Roner (appointed 8 June 2024) Amin Sohrabi (appointed 15 July 2024) Amy Lewis (resigned 8 June 2024) Charlotte Lavender (appointed 8 June 2024) David Kaye Giles Deards Holta Loku (resigned 30 April 2024) Maria Clara Jeria (appointed 8 June 2024) Nasrat Sayyad (appointed 15 July 2024) Phillip Weitzman (appointed 8 June 2024) Viviana Young (resigned 30 April 2024) Yasmin Ali (appointed 8 June 2024) Administrator/Manager Sarah Reynolds **Administration office address** Salusbury Primary School Salusbury Road London NW6 6RG **Charity registration no.:** 1071065 **Reporting Accountants:** Liondaris & Co Certified Public Accountants Coach House Bellevue Road Friern Barnet London N11 3NY **Bankers:** Cooperative Bank Plc Ground Floor, Bury House 31 Bury Street London EC3A 5AR Page 1 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Trustees' Report for the Year Ended 31 March 2024** The trustees are pleased to present their annual trustees' report for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011 and 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 (FRS102). ## **Structure, Governance and Management** ## Governing Document Salusbury World is a registered charity governed by its Trust Deed dated 13 July 1998 ## Recruitment & Appointment of Trustees The trustees and directors who have served throughout the year are shown on page 1. Appointment of directors/trustees is governed by the Trust Deed. New trustees are required to go through the same safe recruitment procedures as paid members of staff. New trustees are given induction and information regarding their legal obligations under charity law, the decision making process, the business plan, and recent performance of the charity. All undergo an enhanced check by the Disclosure and Barring Service and receive training in safeguarding and child protection. The board of trustees aims to represent a range of skills and background, including: education, parents of children who attend or used to attend Salusbury School Primary School, finance & business professionals. ## Organisational Structure The charity is organized so that the trustees meet regularly to manage its affairs. ## Risk Management The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at the current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. ## Subcommittees Trustees run four subcommittees as part of this strategy: •Finance - •Fundraising - •Communica�on - •Governance ## Related parties None of the trustees receive remuneration or other benefit in their capacity as trustees of the charity. Any connection between a trustee of the charity and organisations providing services to the charity must be disclosed to the full board of trustees in the same way as any contractual relationship with a related party. In the current year no such related party transactions were reported. ## **Purpose and objectives** The charity's objects are to advance education, relieve poverty, distress, and suffering; preserve and protect physical, emotional or mental health by appropriate charitable education, rehabilitative, financial and other assistance. In prioritising the objects of the charity trustees have a due regard to the guidance on public benefit issued by the Charity Commission. ## **Activities 2023/24** ## Salusbury World’s aim is that _**refugees, migrants and asylum seekers who seek our help will have the ability and confidence to navigate and succeed in society, feel supported and hopeful for the future.**_ ## **Our work in 2023/24 included:** · An accredited advice and advocacy service which provides help at critical moments, and ongoing support, to ensure that families receive the benefits and immigration rights to which they’re entitled, and have an understanding of those systems so that they can navigate them independently in the future. · A women’s project, including English language classes to enable them to improve their language skills and thus their ability to manage their affairs, to support their children in school, and to seek employment. · Social and cultural activities for children and adults, including creative writing and music projects which help build friendships, confidence and a sense of belonging. · One-to-one educational mentoring for teenagers - we pair teenagers who are new to school in London, with a trained volunteer who helps them with homework once a week. The young people grow in confidence and feel more settled in school. Page 2 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Trustees' Report for the Year Ended 31 March 2024 (continued)** ## **Our work includes (continued)** · After-school and holiday clubs – providing children with a safe space to play and to develop friendships and confidence. · Volunteering experience – teenagers and adults assist us with our activities for younger children and gain confidence and useful experience for job and college applications. In **2023/24** we worked directly with **488** people. Additionally, we facilitated connections for a music project, reaching **90** children. In March 2023, trustees were concerned at the in-year deficit and agreed on a six-month strategy to improve the charity’s financial position. A review of progress in August 2023 recognised that insufficient funds had been raised to secure all projects. Following the charity’s risk management procedures, trustees agreed to: · Issue redundancy notices to all staff working on projects without at least one year of grant funding remaining · Begin an emergency fundraising campaign The emergency fundraising campaign raised over £26000 + Gift Aid. However, this was insufficient to retain all staff. Redundancies were carried out in December 2023, retaining & protecting the Advice Project and the Women’s Project. Some staff who were made redundant returned as volunteers in January 2024 to work with trustees and The Fair Collective on developing a strategy to rebuild services cautiously. The board recognised that a significant time commitment would be required for this and some members felt their external commitments were too great and it would be a good time to recruit new members. ## Three stepped down during spring 2024 and seven new trustees were recruited. At the time of writing a number of new grants have been secured and some core staff have been re-engaged on part-time, shortterm contracts. **ADULT SERVICES.** (Total staffing 2.0 FTE, rising to 2.6 FTE in June 2024) **Advice and Advocacy** . (Staffing 1.4 FTE, rising to 2.0 FTE in June 2024) Our advice project provides help at critical moments, and ongoing support. We ensure that refugees and asylum-seekers receive the benefits and immigration rights to which they’re entitled and have an understanding of those systems so that they can navigate them independently in the future. The demand for free, specialist advice for new migrants far outstrips supply in London. The people who come to us for help are often in despair. In February 2023, for the first time ever, we closed our doors to new clients because our advisors were overwhelmed by demand. Local advice organisations and the 10 partners funded by the GLA’s ‘Advice in Community Settings’ project all reported significant increases in the complexity of issues experienced by advice-seekers. In 2023/24, our team supported **216** individuals ( **1014** appointments), 53% of these required an interpreter. Using a conservative calculator of 3 members in each family, we estimate that **648** people will have been directly impacted by this advice. Total won £78,000 challenging entitlements and repayment of fees - individuals and families received payments ranging from £32,000 to £150 We secured an increase in monthly income ranging from £150 to £1012 for 33 families and individuals. (We have not included all the Universal credit applications in this calculation) In March 2024, we upgraded our immigration accreditation with the Office of the Legal Services Commissioner (OISC) to Level 2 (Asylum & Protection). Page 3 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD Trustees' Report for the Year Ended 31 March 2024 (continued)** ## **ADULT SERVICES.** (continued) ## **Clients receive the advice and support they need** 216 people received expert advice enabling them to claim their rightful entitlements in areas such as housing, benefits and immigration. - _We supported 95 families who were homeless or threatened with homelessness, to find a secure home_ _- We helped 49 people to receive Universal Credit for the first time or at the correct level_ - _87 people were helped to obtain travel documents, citizenship or Biometric Residence Permits, Indefinite Leave to Remain or Family reunion visas that they needed to move on with their lives in the UK_ - _We supported 55 people to claim the disability benefits to which they were entitled_ ## **Success at appeals** 2 x tribunal appeals attended - 2 successful 6 x Mandatory Reconsiderations submitted - 6 successful **Clients report that they have greater confidence to deal with their benefit and housing entitlements themselves, going forward, and that they feel hopeful for their future in the UK** · 100% of clients when asked, report that they have greater confidence to deal with their benefit and housing entitlements either by themselves or to at least give it a try initially. - 96% of clients questioned report that they feel more hopeful for the future after seeing Salusbury World caseworkers. ## **Clients who are supported to make successful applications for employment or to further/higher education** We have referred 16 clients for educational support e.g. to Breaking Barriers, ELATT, REUK ## Clients said: Believe me, I have never seen anyone as experienced and knowledgeable as you. To be aware of all government systems and departments. You are truly unique. Partner organisations said: _‘Thank God for you and your team’_ (Advisor, Freedom from Torture) _The work you do is fantastic! (solicitor)_ ## **Women’s Project. (staffing 0.6 FTE)** The refugee and migrant women who join our project develop the fluency and confidence in English to manage independently and confidently in their everyday lives in London. They make friends and feel less isolated. We provide free, flexible and accessible English classes at local Family Wellbeing Centres (where free childcare is available). Our curriculum is determined by the women and the issues and concerns affecting their daily lives. The lesson content emerges through discussion, with the class often offering peer advice from shared experience. In addition to this, our partnerships have enabled us to offer a variety of trips, workshops and a monthly film club (with the Lexi Cinema). In 2023/24 56 women (from 17 different countries) joined the project. ## Additional activities: Drama workshops (Natasha Stanic), Brent Talking Therapies workshops (‘PTSD’, ‘Mindfulness’, ‘Managing Stress’, ‘Looking after your Mental Health’), annual picnic, library visits). A bespoke workshop with **Jacqui Ramrayka** (Artist in Residence at the Victoria & Albert Museum) is scheduled for June 2024. Page 4 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD Trustees' Report for the Year Ended 31 March 2024 (continued)** ## **Women’s Project. (staffing 0.6 FTE) (continued)** ## Participants said: _‘Before-I knew some English but I felt that it was difficult for me to speak. Now-I can communicate with people and I want to develop myself._ _I was born in Syria. I studied in my city in Syria and completed my education I Jordan. I worked as a pharmacist before I came to London with my family. I would like to work as a pharmacist again._ _I feel- I don’t have family in UK but I know lots of friends.’_ _‘Before: I had difficulties communicating with people as I only spoke Arabic. I asked other Arabic speakers to help me._ _Now: I am much better communicating. I help other parents at my children's school._ _I want to improve my English. I joined a college to improve my English but I love coming to this class.’_ ## Talks and Events. As always, we organised two events aimed at challenging perceptions of migration and human rights. · **Enver Solomon** (CEO of the Refugee Council) in conversation with **Gulwali Passarlay** & **Yasmin Ali** on truth & myths about refugees (July 2023) · Queens Park Book Festival: Choman Hardi in conversation with Shyama Perera ## **Services for Refugee Children and Young People.** (Staffing 2.8 FTE until Dec 2023) **Young people (11-18): 176** Educational Mentoring: **51** Games club: **45** Dramatherapy: **15** Yoga: **10** Holiday Programmes: **120** New arrivals (Proud Places): **19** _NB some young people took part in more than one project!_ ## **Children aged 5-11: 135** After school and holiday programmes: **45 (to end Aug 2023)** Music Project with Music Action International (Harmonise): **90 (Kilburn Grange & Gladstone Park)** ## **Educational Mentoring.** The mentoring programme delivered weekly, one to one, term time support to **49** refugee and migrant secondary school pupils over the 2022/23 academic year in four locations (Queens Park Community School-31 students, Capital City Academy- 16 students, Granville Family Wellbeing Centre and online). From September – December 2023: **19** young people ## Impact: **63%** reported improvement in one of their key subjects (English, maths and science). **71%** said they now had greater confidence communicating in English ## Quotes from mentees (December 2023): ‘ _I don’t want to stop. K comes every week for me. We can talk about all different stuff_ ’ Year 9 student _‘It’s been the best. I understand more now and it makes me happy. Especially Maths. Thank you’_ Year 11 student. ‘ _I like her (mentor) a lot. I can ask lots of questions and we laugh a lot_ ’ Year 9 Message to Salusbury World team leader on closure of the mentoring project from a year 9 student: ‘ _You are a wonderful teacher and wonderful person. Saying goodbye to you breaks my heart. Thank you for being such a one-of-akind teacher. I wish you can stay with us, but I hope you can come back and we can see you and I will miss you so much, my favourite teacher. I love you so much. Thank you for everything.’_ Page 5 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Trustees' Report for the Year Ended 31 March 2024 (continued)** ## **Holiday Programmes for Young People (until end August 2023)** The children and teenagers who came to our holiday clubs grew in confidence and self-esteem, develop friendships and become less socially isolated. **120** children and young people took part in our clubs which ran at Easter, May half term and during the summer break in 2023. Young people were able to try all sorts of activities such as black smithing, kayaking, music, raft-building, Forest schools & circus skills. Our long-term partnership with **Create** gave opportunities for photography & jewellery-making We also made time to just hang out and play. We asked the participants what they thought at the end of every day, here is their feedback: _‘My mum, sister & me are now living in a hotel in one room in High Wycombe. If I wasn’t here I’d be stuck in a room all day’_ Blacksmith visit: _‘I’ve seen this in Syria. My uncle is a Blacksmith in Egypt. Thank you for giving me a new experience, it was very interesting. I learnt a new skill!’_ ## Impact: **97%** of participants enjoyed the club’s activities. **86%** of participants felt more connected after attending the club ## **Children aged 5-11.** Our after-school sessions (running until December 2023) combined play with one-to-one EAL (English as an Additional Language) support. The club aimed to increase confidence and help children thrive in school. Many of this year’s participants were new to the UK and to English. Children struggled with homework that damaged their confidence rather than developed it. To thrive, children need to feel happy, build confidence, make friends and through this improve their language skills. Play. The club took place at the Granville Family Wellbeing Centre. Staff and volunteers supported children one-to-one with English and in small groups for games and creative activities. There were also daily park visits. **24** children attended the club between September & December 2023. ## Children and parents said: _“My child feels safe, relaxed and happy.”_ _Kayaking: It's fun. I felt excited._ _I like the swimming. I enjoyed the challenge of keeping the boat in a straight line. It's kind of relaxing._ _Very fun, love to do it again. I got bumped into._ _It's horrible, I'm so numb and cold. I got so wrinkly!_ _F. said to her dad with a big smile when he came to pick her up, " I jumped into the water 10 times!"_ Page 6 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD Trustees' Report for the Year Ended 31 March 2024 (continued)** ## Harmonise In April 2023 we supported Music Action International to broker relationships with two schools to enable 90 children to participate in their ten-week Harmonise programme. Groups from: - Kilburn Grange Primary School (year 3) - Gladstone Park Primary School (year 5, 2 classes) This culminated in another great performance We are completely indebted to the volunteers (including trustees past and present) who made it possible to deliver these services. Their commitment, expertise, generosity, and humour are unrivalled. We are also indebted to the remarkable organisations and individuals with whom we partner to extend the range and quality of activities we are able to offer. In 2023/2024 our especial thanks go to **the Lexi Cinema, Create, Jacqui Ramrayka & the Victoria & Albert Museum, the Kiln Theatre, the Heritage of London Trust (Proud Places), Natasha Stanic, Music Action International, Brent Talking Therapies and Brent Family Wellbeing Centres** We are also deeply grateful to all those who support us in various ways: fundraising, making regular donations, attending events, advocating, donating furniture to families in need and simply being friends. ## **Priorities for 2024/2025** The new board of trustees is optimistic that the foundations have been laid for a sustainable future but there is still much work to be done. ## **Key areas of work** - Development of short- & long-term organisational plan - Improved financial information & planning - Fundraising & communication strategy - Diversification of income sources Page 6 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Trustees' Report for the Year Ended 31 March 2024 (continued)** ## **Financial review for the year** Total income for the year amounted to £255,467 with total expenditure of £312,234, resulting in a deficit in the year of £56,767. Accumulated reserves at the balance sheet date amounted to £39,043, of which £38,143 represent income reserves. ## **Investment powers and policy** The trustees, having regard to the liquidity requirements of operating the charity's activities, have kept a proportion of available liquid funds in an interest bearing account to maximise the rate of return, although given current rates of interest the rate of return is minimal. The trustees will review the position and consider alternative investments to maximise returns but will continue with a risk averse policy. ## **Reserves policy and going concern** The Trustees have undertaken a review of the charity's requirements for reserves in light of the main risks to the organisation, and the results for the year 2032/24. Current unrestricted reserves are £39,043 of which £38,143 are held in a designated staff reserve fund. Funding for next 12 months is anticipated to be in line with 2023/24 and this together with reserves held will be sufficient to ensure the charity continues its's activities at current levels for the following 12 months. ## **Trustees responsibilities in relation to the financial statements** The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and estimates that are reasonable and prudent; - state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - prepare financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Reporting Accountants** A resolution to re-appoint Liondaris & Co will be proposed at the AGM. By order of the board of trustees **………………………………………………………………… G Self** |[Gillian,] Signed by:[SUF] **Trustee 21 January 2025** DB3DEF0422DC45D... Page 7 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF SALUSBURY WORLD** I report to the Trustees on my examination of the accounts of Salusbury World (the charity), charity number 1071065, for the year ended 31 March 2024, which are set out on pages 9 to 16. ## **Respective responsibilities of trustees and examiner** The charity's Trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ('the Act'). The charity's Trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act - to follow the applicable directions given by the Charity Commission (under section 145(5)(b) of the Act, and - to follow the applicable directions given by the Charity Commission (under section 145(5)(b) of the Act, and - to state whether particular matters have come to my attention ## **Basis of independent examiner's statement** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out below. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians which is one of the listed bodies. In connection with my examination, no material matters have come to my attention which gives me cause to believe, that in any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act 2011 - the accounts did not accord with the accounting records: or - the accounts did not comply with the applicable requirements concerning the form and contents of accounts set in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **Christos Liondaris Liondaris & Co Certified Public Accountants** Coach House Bellevue Road Friern Barnet London N11 3NY 21 January 2025 Page 8 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD Statement of financial activities for the year ended 31 March 2024** **----- Start of picture text -----**
Unrestricted/ Restated
Restricted Designated Total Total
Notes Funds Funds 2023/24 2022/23
£ £ £ £
Income:
Income from other charitable activities
Fundraising & other income 2 102,500 152,967 255,467 316,933
Total income 102,500 152,967 255,467 316,933
Expenditure
Expenditure on charitable activities:
Direct Charitable expenditure 4 220,176 79,481 299,656 308,691
Fundraising costs 5 - 4,893 4,893 37,822
Governance & support costs 6 - 7,684 7,684 35,537
Total expenditure 220,176 92,058 312,234 382,050
Net income/(expenditure) and net movements
in funds before gains and losses on investments
7 (117,676) 60,909 (56,767) (65,117)
Total funds brought forward 160,927 (65,117) 95,810 160,927
Total funds carried forward 43,251 (4,208) 39,043 95,810
**----- End of picture text -----**
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. Page 9 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD BALANCE SHEET AS AT 31 MARCH 2024** ||**Notes**|**2023/24**||**2022/23**|| |---|---|---|---|---|---| |**Fixed Assets**
Tangible fixed assets|**12**|**£**|**£**
900|**£**|**£**
900| |**Total fixed assets**
**Current Assets**
Debtors
Cash at bank and in hand|**13**|-
63,090|900|11,333
85,857|900| |**Total current assets**
**Creditors: amounts falling due**
**within one year**|**14**|63,090
(24,947)||97,190
(2,280)|| |**Net current assets**|||38,143||94,910| |**NET ASSETS**|||39,043||95,810| |**The funds of the Charity:**
Restricted funds
Unrestricted funds|**15**
**15**||-
39,043||-
95,810| |**TOTAL CHARITY FUNDS**|||39,043||95,810| The notes at pages 11 to 16 form part of these accounts Approved by the trustees on 21 January 2025 **N Sayyad Trustee** Page 10 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024** ## **Accounting policies** The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of financial statements are as follows ## **Basis of Preparation** The financial statements have been prepared in accordance with Accounting and Reporting of charities: SORP applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective date 1 January 2015) - Charities SORP (FRS 102), the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102). Salusbury World meets the definition of a Charity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy (notes). ## **Incoming resources** Income (including income from government and other grants) is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. ## **Interest and investment income receivable** Interest on funds held on deposit and income from investments held is included when receivable and the amount can be measured reliable by the charity. ## **Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of a charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside for a specific purpose. Restricted funds are donations or grants which the donor has specified are to be solely used for a particular purpose or area of the Trust's work or projects being undertaken by the Trust. ## **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 headings: - -cost of raising funds comprises the associated costs relating to fund raising activities - expenditure on charitable activities includes the cost of operating the advice centre and outreach services - management and administration includes support costs for those functions that assist the work of the charity Irrecoverable VAT is charged as a cost against the activity for which the expenditure has been incurred. ## **Taxation** As a grant aided charity with charitable status, the charity's activities do not create a charge to corporation tax. ## **Operating leases** Rentals paid under operating leases are charged to income on a straight line basis over the lease term. ## **Tangible fixed assets** Tangible fixed assets used by the charity are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: - office equipment - 25% straight line basis Page 11 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024** ## **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. ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of less than three months from the date of acquisition or opening of the deposit or similar account. ## **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 ## **Financial instruments** The trust has only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. The charity does not acquire put options, derivatives or other complex financial instruments and does not therefore face any financial risk. ## **Pensions** The Trust operates a defined contribution pension scheme. Page 12 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Notes to the financial statements for the year ended 31 March 2024** ## **1 Legal status of the Trust** The Trust is a registered charity governed by its Trust Deed dated 13 July 1998. |**2 Financial performance of the charity**
Income
Expenditure on charitable activities
Expenditure on fundraising activities
Governance costs
Net income/(expenditure)
Total funds brought forward
Total funds carried forward
**Represented by:**
Unrestricted funds
Restricted funds
**3 Incoming resources: Unrestricted income**
**Donations:**
GMS Estates
Enthuse.Com
Anonymous - Trust 1
Others
HMRC - Gift Aid
**Restricted income**
Grants receivable - BBC Children in Need
Grants receivable - John Lyon's Charity
Grants receivable - Mayor of London (Advice in Community Settings)
Postcode Society
The Big Give
Queens Park Community
The Childhood Trust
Heritage Lottery Fund
French Huguenot
The London Community Foundation
L B Brent
Brent HAF
London Catalyst
Choose Love
Sutasoma Trust
Gifts in kind - notional rent|**2023/24**
**£**
255,467
299,656
4,893
7,684
312,234
(56,767)
95,810
39,043
39,043
-
39,043
17,142
-
-
129,678
6,147
152,967
-
-
68,000
-
-
10,000
-
-
-
-
-
10,500
-
10,000
4,000
-
255,467|**Restated**
**2022/23**
**£**
316,933
308,691
37,822
35,537
382,050
(65,117)
160,927
95,810
95,810
-
95,810
17,142
2,473
8,000
51,133
14,026
92,774
18,650
55,000
46,738
24,883
20,558
10,000
10,000
6,730
6,000
10,000
2,100
-
1,500
-
12,000
316,933| |---|---|---| Page 13 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Notes to the financial statements** **for the year ended 31 March 2024** **----- Start of picture text -----**
Restated
2023/24 2022/23
4 Analysis of expenditure on charitable activities
Staff costs 272,969 239,066
Other running costs 26,688 69,625
299,656 308,691
- -
Re-allocation of costs from fundraising activities
299,656 308,691
5 Analysis of expenditure on fundraising activities
Staff costs 461 23,714
Other costs 4,432 14,108
4,893 37,822
- -
Re-allocation of costs to direct charitable expenditure
4,893 37,822
6 Analysis of governance and support cost
Staff costs 14 29,079
Accountancy fees 3,691 4,528
Legal & professional 3,980 1,930
- -
Other running costs
7,684 35,537
7 Net income /(expenditure) for the year
This is stated after charging:
Depreciation - owned assets - 451
Reporting accountants remuneration for accountancy services 2,280 2,460
8 Analyses of staff costs, trustee remuneration and expenses, and the cost of key
management personnel
Wages and salaries 241,498 256,454
Employers national insurance 22,059 22,059
Pension contributions 9,887 13,346
273,444 291,859
The average number of staff employed during the year
were as follows:
Direct charitable 11 11
Governance & support 2 2
13 13
The number of employees whose emoluments as defined for taxation purposes
amounted to over £60,000 in the year were as follows: - -
**----- End of picture text -----**
## **9 Trustees' remuneration** The trustees were not paid or received any other benefits from the Charity during the year in their capacity as trustees. ## **10 Related party transactions** There were no related party transactions to be disclosed during the year under review. ## **11 Corporation Tax** The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Page 14 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD** ## **Notes to the financial statements for the year ended 31 March 2024** ## **12 Tangible fixed assets** |**12 Tangible fixed assets**
**ALUSBURY WORLD**
**otes to the financial statements**
**or the year ended 31 March 2024**|||| |---|---|---|---| |**Cost:**
At 1 April 2023
Additions||**Total**
**Unrestricted**
**Restricted**
11,005
12,414
23,419
-
-
-
**Fixtures, fitting and**
**equipment**|| |At 31 March 2024||11,005|12,414
23,419| |**Depreciation**
At 1 April 2023
Charge in year||11,005
-|11,514
22,519
-
-
-| |At 31 March 2024||11,005|11,514
22,519| |**Net book value**
At 31 March 2024||-|900
900| |At 31 March 2023||-|900
900| |**13 Debtors**
Prepayments and accrued income
All the charity's fixed assets are functional fixed assets used for charitable purposes|||**2023/24**
**2022/23**
-
11,333
and office running.| ||||-
11,333| |**14 Creditors**
**Amounts falling due within one year:**
Other taxation & social security
Accruals & deferred income|||-
-
24,947
2,280| ||||24,947
2,280| |**15 Analysis of charitable funds**
**Analysis of movement in restricted funds**||**2023/24**|| |**Income funds:**
Brent HAF
Choose Love
Mayor of London
Queens Park Community
Sutasoma Trust|**Balance at**
**01/04/2023**
**Income**
-
10,500
-
10,000
-
68,000
-
10,000
-
4,000|**Expenditure**
10,500
10,000
68,000
10,000
4,000|**Balance at**
**Transfer**
**31/03/2024**
-
-
-
-
-
-
-
-
-
-| |Total restricted funds|-
102,500|102,500|-
-| |**Analysis of movement in unrestricted funds**
**Balance at**
**01/04/2023**
**Income**
General fund
54,910
152,967
Trustees Fund - designated
40,000
-
Capital Reserve - designated
900
-||**Expenditure**
209,734
-
-|**Balance at**
**Transfer**
**31/03/2024**
1,857
0
(1,857)
38,143
-
900| |Total unrestricted funds|95,810
152,967|209,734|-
39,043| Page 15 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 **SALUSBURY WORLD Notes to the financial statements for the year ended 31 March 2024** - **15 Analysis of charitable funds (Continued) Analysis of movement in restricted funds** |**Analysis of net assets between funds**
Fixed assets
Cash at bank
Net assets/(liabilities)|**Unrestricted**
-
63,090
(24,947)
38,143|**Designated**
**Restricted**
900
-
-
-
-
-
900
-
**2023/24**|**Total**
900
63,090
(24,947)
39,043| |---|---|---|---| |**Analysis of movement in restricted funds**
**Balance at**
**01/04/2022**
**Income funds:**
Children in Need
9,325
Gifts in kind - notional rent
-
John Lyon's Charity
-
Mayor of London
-
Postcode Society
-
The Big Give
-
French Huguenot
-
Queens Park Community
-
The Childhood Trust
-
The
London
Community
Foundation
-
Heritage Lottery Fund
-
London Catalyst
L B Brent
-
Total restricted funds
9,325
**Analysis of movement in unrestricted funds**
**Balance at**
**01/04/2022**
General fund
110,251
Trustees Fund - designated
40,000
Capital Reserve - designated
1,351
Total unrestricted funds
151,602
**Analysis of net assets between funds**
Fixed assets
Cash at bank
Net assets/(liabilities)|**Income**
18,650
12,000
55,000
46,738
24,883
20,558
6,000
10,000
10,000
10,000
6,730
1,500
2,100
224,159
**Income**
92,774
-
-
92,774
**Unrestricted**
-
85,857
9,053
94,910|**Expenditure**
27,975
12,000
55,000
46,738
24,883
20,558
6,000
10,000
10,000
10,000
6,730
1,500
2,100
233,484
**Expenditure**
148,115
-
451
148,566
**Designated**
900
-
-
900
**2022/23**|**Transfer**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**Transfer**
-
-
-
-
**Restricted**
-
-
-
-|**Balance at**
**31/03/2023**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**Balance at**
**31/03/2023**
54,910
40,000
900
95,810
**Total**
900
85,857
9,053
95,810| |---|---|---|---|---| Page 16 Docusign Envelope ID: 0A3FD3A9-9D13-4F66-BE4C-8927E0854026 ## **SALUSBURY WORLD DETAILED INCOME & EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2024** **----- Start of picture text -----**
2023/24 2022/23
£ £
Income
Voluntary income & donations 152,967 92,774
Grants receivable - restricted 102,500 224,159
255,467 316,933
Charitable expenditure
Staff costs 263,082 225,720
Staff pension costs 9,887 13,346
Staff training & welfare 1,146 887
Staff recruitment 299 635
Rent & services 2,105 14,194
Printing, postage & stationery 35 489
Telephone 2,308 2,284
Beneficiary expenses & training - 11,304
Kids activities & resources 14,604 26,115
Membership fees 2,589 3,101
Repairs & office equipment 3,604 6,119
General running costs (742) 2,771
Travel & subsistence 739 1,275
Depreciation - 451
299,656 308,691
Costs of generating funds
Staff costs 461 23,714
Other costs 4,432 14,108
4,893 37,822
Governance costs
Staff costs 14 29,079
Reporting Accountant fees 2,280 2,460
Bookkeeping and payroll fees 1,411 2,068
Legal and professional 3,980 1,930
7,684 35,537
NET INCOMINGS/(OUTGOINGS) IN YEAR (56,767) (65,117)
**----- End of picture text -----**
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