Sobus
Trustees, annual report
For the year ended 31 March 2023
sobus
strengthening communities

Sobus
Trustees, annual report
For the year ended 31 March 2023
Contents
Page
Reference and administrative information
Trustees, annual report
4-13
Independent auditors. report
14-16
Statement of financial activities
(incorporating an income and expenditure account)
17
Balance Sheet
18
Notes to the financial stslements
19-27

Sobus
Trustees, annual report
For the year ended 31 March 2023
Trustees..
Chair.. Monty Grigg
Treasurer= Phillip Amy
Trustee: Susie Howard
Trustee= Liam Clipsham
Trustee= Baden Prin
Trustee: Richard Brunwin
Truslee.. Sanja Dujmovic Potnar
Chief Executive and
Company Se¢retary:
Sue Spiller
Company number:
Charity number:
03471416
1071089
Registered office:
Dawes Road Hub.
20 Dawes Road
Fulham
London SW6 7EN
Auditors..
Goldwins Limited
75 Maygrove Road
West Hampstead
London
NW6 2EG
Bankers
CAF Bank Ltd
PO Box 289
West Malling
Kent ME19 4TA
Sollcitors
WGS Solicitors
133 Praed Street
London W2 1 RN

Sobus
Trustees. annual report
For the year ended 31 March 2023
The Iruslees. who are also directors under ci)mpany law. present th￿r report and financial statements
for the year ended 31 March 2023.
The trustees confimi that the financial slalements comply wlh current stalulory requirements. the
memorandum and articles of association and the Slalement of Recon)mend&d Practi￿- Accounting
and Reporting by Charities.. SORP applicable lo chattlies preparing Iheiraccounls in accordance wth
FRS 102.
Aims and Objectives
Our Aims..
Sobus is a registered charity. charity no. 1071089 and a company limit&1 by guarantee. The objects.
as sel out in the Memorandum and Articles of Association are",
To promote any charitable purpose for the benefit of the wblic in the London Borough of
Hammersmilh and Fulham and surrounding area
To promote the Voluntary Sector and any charitable purpose for the benefit of the public in the
London Borough of Hammersmilh and Fulham and surrwnding area and promote and
organise co-operation betsveen the Voluntary Sector. stalulory bodEs and other bodies as
appropriate to further the Objects of the Charity.
We aim, through our range of high qualty services lo support and enable the voluntary organisalions
operating in Hammersmilh and Fulham lo be a collective thriving aThl significant sector ￿1¢h better
idenlilies and supports the needs and aspirations of our communities. We seek lo broker a range of
mutually beneficial relationships between the Voluntsry and Community Sector IVCSI and slalulory.
private and other VCS organisabons. We provide a range of resour￿$ lo promote information and
intelligence lo the sector so that they are better able to respond lo the needs of the area. We deliver
capacity building sueh as one lo one advice, training and events lo support thè growth and
development of VCS. We provide high quality and affordable office space to organisations lo run their
organisalion.
Our Obje¢tives'.
Our objectives are geared to ensuring the delivery of our vision as cxjllined in our strategy and in our
governing dctumenl. In selling, our objectives and planning our acti￿lieS our Governors have given
careful consideration lo the Charity Commission's public benefit gLTridance.
Our key objectives lor the year induded".
To build the resilien￿ and stability of Itxal 3rd $￿tOr organisalions through effective
capacity building
To support the sector in demonslraling its impact indtvidualfy and collecb.vely
To facililale collaboraty"on. cooperation and partnerships with and belween the local 3rd
sector
To facilitate the voice of the 3rd sector in lo￿1 strategic opportunth'es ar¥J devebpmenls
lo continue lo ensure that Sobus directory and reSoUr￿S are up to dale
lo slabilise our provision of affordable office space
to develop effective enterprise support around our Freslon Road Hub

Sobus
Trustees. annual report
For the year ended 31 March 2023
2022-23 Review
Introduction
During this financial year. Sobus, along with other UK and worldwide busine55es and
organisalions continued their post-covid recovery. "Normal" ways of working have changed
since the pandemic, with the trend for online and home working continuing for many. Our
own work developed through the year as a hybrid between online and offline engagem8rJl
with partners, groups and communities.
The biggest ongoing impacl ofcovid on Sobus has been the continued lower use ofour hubs,
meeting room facilities. As meetings Continue to be held online (or at the very least, hybrid
meetings where attendees can join in person or virtually), regular bookings which used to
take place at either Dawes Road or Freslon Road hub have yet lo return to their pre-covid
figures- and we anticipate that hybrid and online meelings will continue as the "new normal.
in the future.
The majority of groups we worked with continued to work with us predominantly online,
though we have seen a slow increase in hybrid and in-person meetings over the course of
the year, and we are actively looking at how we can facilitate hybrid services and events in
the future.
Strategic plan
During this year, we continued the implemenlalion of our 5-year stiategic plan.
Our vision is of strong and engaged communities. whèr¢ residents and
organlsations are empowered to make a positive difference to the causes they
believe in, and our mlssion is to achieve this through providing voice,
ropresentation and support to residents through the organisations that support
them.
Sobus is continuing to pursue the following stralegic objectives
1. Support a stronger, sustainable Volunlary Commursity Sector (VCS) in LBHF
2. Strengthen the voice of the VCS and those they support
3. Develop and support Collaboration, CoDperalion and Coordination with and between
the VCS, and bLiild and develop stronger links with statutory and corporate sectors
4. Maximise and make best use of our assets to support the VCS in Hammersmith &
Fulham and the enterprise community in North Kensington
5. Be a sustainable, responsible, responsive and effective organisation
Partnerships & Forums
Local VCS organisalions continued to look for our support to network, connect and
collaborate with other VCS and slalulory sector services. Our online forums continued to be
well attended, with a number of collaborations arising from these. Mosl notably, the
development ofAgeing Well Grants, initiated through the Sobus POPS Forum, and provided
opportunities to link newly emerging organisalions with more established groups, lo develop

Sobus
Trustees, annual report
For the year ended 31 March 2023
a peer mentoring service lo groups who secured grant funding. A further £50k has been
secured from CLCH for this programme.
Sobus supported the development of £200k Hamme15milh & Fulham Mental Health Grants
programme funded by Wesl London NHS Trust. As a result we are now a formal partner with
West London NHS Trust, and LB Hammersmith & Fulham in overseeing the programme.
Projects supported diverse range of communities on work supporting vulnerable and
marginalised groups. including women, older people: young people. LBGTQ community and
marginalised minority communities. Servi￿$ include autism support, mental health
awareness training, arts therapy for women. tackling isolation. counselling, gangs violence,
message therapy. advocacy and suicide prevention. A further £100k was secured for the
extension of the programme to Oct 2023 for the 14 recipient organisalions.
Engagement and representation with health providers at a strategic level has continued.
Sobus is a formal partner in the HF Health & Care Partnership {Fom)edy known as the HF
Inlegraled Care Partnership). This involvement is not only at the higher strategic levels bul
also campaign groups including mental health. frailty and diabetes and their subgroups. One
of the tasks for Sobus is lo help increase the representation on these platforms from the wider
voluntary and community sector. Another is to advocate for increased resourcing of the sector
in delivering on the preventative agenda which should reduce demand on an already
overstretched NHS.
As in 20-21. groups opted for our forums and nehmorks to continue lo be held remotely. With
the majority of all other meetings. including the Health & Wellbeing Board and almost all H&
F Health and Care Partnership meetings also being held online, this has become the normal
way of working across the majority of the engagement opportunities we are involved in.
Whilst this can offer benefits, including making meetings easy lo attend. it also comes with
challenges. particularfy in supporting VCS organisalions to also meaningfiJlly participate.
Offline meetings provide the opportunity for those who are less confidenl lo be supported to
participate, and the opportunity for those infomial conversations and networking Ihal can
often result in new connections being made. information shared and new possibilities
identified. As the year drew lo a close, we began lo see in-person meetings begin to be held,
which was welcomed by organisations as a useful opportunity lo effectively network.
Grants
Our main grant from the local authority- the LBHF 3 Sector Investment Fund (3SIF), was
intended lo be recommissioned in this financial year. Sobus supported the local authority's
coproduction process of this fund, including hosting and facilitating a number of coproduction
events- bul unfortunately were disappointed in the pace and progress of this ple￿ of work.
Various staff absences and changes at LBHF resulted in little progress being made, and a
significant lack of clarity regarding the timescale for retendering the fund.
rd
Eventually, LBHF extended all current funding agreements until the end of the financial year,
with a view lo relendering in 2023. Al the time of writing this report - the position is that
contracts will be further extended until January 2024, at which point new agweements will be
in place.

Sobus
Trustees, annual report
For the year ended 31 March 2023
We were pleased to secure three year funding from Cty Bridge Trust for 3D Vol￿- a projecl
to ernpower the voice of small BAME led VCS organisalions. This project will commence
early in Ihe next financial year.
Hubs
During the earlier part of the year, the aftermath of Covid continued lo impact our finances
and also that of potential organisations lo take space at our hubs. Additionally, we lost a
couple of our rnain, regular FRH room hirers.
Therefore, we used 2 Variety of plaffomis and ideas to promote and improve our spaces. This
included using online office 2nd room hire agencies, more frequent promotion of the hubs via
social media: inlroduclory offers for new users, and some cosmetic improvements to the hubs
lo make them feel rnore welcoming. We subsequently gain8J several new, regular room
hirers at both hubs. plus some new licensees al DRH. Our current occupancy is such that we
now have only individual desk spaces vacant in the shared offi￿$ at both hubs.
The legacy of Covid-19 is our continued low uptake of room hire facilities. Although higher
than the previous financial year- we are yel to see room hire returning to anything close to
pre-pandemic levels, and we think it likely that the coritinuing trend of online and hybrid
meelings will result in lower than desirable room hire activity al both hubs.
In response to this, we have undertaken a number of marketing campaigns during the year
to try lo expand our client base, ar)d given extensive consideration to alternative uses of the
space that could be explored. Unforiunately, no viable alternative use proposals have as yel
been identified. In the meantime, we have continued lo minimise all possible expenditure,
including maintaining a reduced ieception service at both hubs to mornings only. Although
this is reducing our overheads, il has caused some difficultie5, particulady al Freston Road
Hub in relation lo accepting post and deliveries, which we will need to address in the next
financial year.
Organisational Development
Unfortunately, our Organisalional Development Officer lefi Sobus in December 2022, as the
uncertainty of the funding of the role continued, with the local aulhorily's main grants
programme still uncertain, and not committed beyond the end of this financial year.
Since their departure, our Organisational Development work has been continued by existing
staff. Fundraising and governance continue to be the highest areas where support is sought,
bul fundraising is particularly an issue wilh groups facing the (Jjrrent challenges of Ihe cost
of living cris15 - both on the dienls they support. and Iheir own organisations.
The grant funding sector continues to be challenging
with fijnding being more difficult lo
secure, and lèss longer term funding opportuntties available to the sector overall. However,
we were delighted lo secure three year funding from City Bridge Trust in this financial year lo
develop 3D Voice, a project to support and empower the voices of unheard BAME led
organisalions. The project will commence in early 23-24.

Sobus
Trustees, annual report
For the year ended 31 March 2023
Enterprise support
During 22-23 we continued lo produce a monthly business newslettef, but again, did not
have much take up of the business support offered at Freslon Road Hub. For the most
part, this seems due lo the continuing impacl of Covid-19. and the emergence of the Cost
of Living crisis. We have continued to try to reach out to new audiences, primarily through
social media, bul have not had a significant lake up of our offers and services during this
year. Addressing this will be a priority for the next financial year.
Community Organising
Our community organising service continued lo work directly wrth local residents, with a
gradual increase in face to fa￿ (rather than virtuall engagement growing throughout the year.
For the rllajority of clients, the longer term impact of Covid-19, particularly around mental
health needs, together with woirying increases in the cost of living were the main issues
that residents raised. The Community Organiser engaged with over 450 residents during
the year and supported a number of nevly fomiing groups to build their suslainabilily. The
Community Organiser has also been involved in a local initiative.. 'Building Trust., which
was developed in response to the evidence that black and Asian communities in particular
were reluclanl to lake the Covid vaccine due lo a long-standing la¢* of trust in the
healthcare system. as a result of their lived expeTience. Building Trust seeks to engage
with BAM E local residents lo capture and tell their stories to those in the NHS and council
who plan and provide our local heaiih and care services.
Sobus's Community Organiser has been instrumental in establishing a series of'lislening
events" where local residents can diredly share their experien￿$. The aim is to create a
shared understanding of how difficult issues like structural racism and poverty affect
residents, experiences of health and care services and the outcornes they get.
Asset management
Sobus owns 363 North End Road, a ground and basemenl floor commercial property, and
the freehold lo the two residèntsal units above. The property has been let oul to tenants since
Sobus acquired it in 201412 result of the merger between CaVSA and Fulham Community
Partnership Trust). Since 2018, the propety has been rented to the London Borough of
Hammersmith & Fulham. who utilised the space for their Fulham Area Housing Office. In
September 2022 LBHF gave notice to Sobus that they would be vacating the property in
January 2023.
The Board gave consideration lo the best use of the property going forward, and determined
th81 the property would be marketed for disposal, providing an opportunity for Sobus to realise
a significant capital receipt which would offer a stabilisalion of our cash position and allow for
immediate and longer term investments that would support the ftjture of the charity. The
property was therefore put on the market for sale in De￿mber 2022, and we hope to realise
the sale in the next financial year.
Looking forward
The most pressing priority for the year ahead is to generale and raise funds- both through
increased use of our hubs. and Ihrou9h fundraising activities.

Sobus
Trustees, annual report
For the year endgd 31 March 2023
We will continue to endeavour to reach new customers for ro(xn and Spa￿ hire, and look at
options for accommodating "hybrid" meetings, where attendees participate both in person
and virtually, and will need to fundraise to improve our facilities at both hubs for this.
Funding for infrastructure. or 2 tier services has always been difficult to secure, as funders
typically prefer to resource front line services. We expect this foojs lo continue Sobus will
need to priorilise creative fundraising approaches, including developing collaborative bids
with other organisalions to ensure our sustainability and future development.
Establishing a more structured organisalional developmenvcapacity building support service
in 23-24 will include the development of specific drop in sessions. and the development of a
more formal training programme, working with other local infrastructure providers lo ensure
a comprehensive package of training and support is available and coordinated for local VCS
organisalions.
Achievements and activities in 22-23
137 VCS groups provided
with ¢asework support
6"Meet the funder"
events, attended by 48
or
anisations
12 organisations
members of the Mental
Health Equity Group. 8
meetings hold
Increased our social
media presen¢e and
updated our website
12 nev*sletters and 12
fundlng bulletins sent to
over 1,200 recipients
172 organisations
attended online meetings
or workshops
3 VCS CEO forums held
Supported and facilitated
8 3SIF Coproduction
meetings
Securod an oxtenslon of a
local grants programme
for older people's
wellboing services
Be¢ame a key member of
the Building Trust
initiative
52 groups supported to
successfully apply for
grants
Secured funding to
develop 3D Voice
478 Individuals engaged
with our Community
Organising Service
293 organisations
provided with 1-2-1
suppor( advice or
information
4 new projects or
Inltiatives stsrted,
supported by our
Community Organising
service
Provided support to 12
groups receiving Mental
Health Grants
Engaged in over 50 Health
& Care Partnèrshlp
meetings and events
Supported the Cost of
Living Crisis v￿rkShopS
Produced 12 Enterprlse
Newslott•rs for the
business community
around Freston Road Hub
7 VCS organisations have
office space in our hubs.
23 VCS organisations
used our meeting room
aces
Secured 2 nèw grant
funding programmes for
local initiatives

Sobus
Trustees, annual report
For the yeai ended 31 March 2023
Going Concern Ststus
Recommendation
Based on the recent results, and the forecast for foreseeable tulure, we believe that there
are no material uncertainties about the Sobus's ability to continue as a going concern.
Income
We have continued lo see a reduction in our room hire income compared to pre-Covid-19
levels, and expect that the move lo online and hybrid meeting styles will continue for Ihe
foreseeable future. However. desk hire levels have remained robust during the year and
our grant income has been le￿ived as expected.
The Senior Leadership Team is keeping the situation under close review.
Income
3rd Sector Investment Fund (Infrastructure service)..
City Bridge Trust
CLCH
Wesl London Mental Health Trust
DRH
Licensee income (32 of 40 desks are currently in use. including 2 hol desks)
Room hire
Service income
FRH
Licensee income137 of 47 desks in use. including 4 hot desks)
Room hire
Service income
Pop up Shop
363 North End Road
In September 2022, the tenants of the property executed their break clause. and vacated
the property in January 2023. The Board of Trustees decided to rnarket the property for
disposal, and the property was pul on the markel in December 2022.
The property is being marketed and at the time of writing this ￿pOrt. an offer of £610,000
has been received and accepted. The Board is developing a Stfalegic Investment Plan
that will best strengthen the charity s financial position in the lorKJ temi, but primarily
strengthen ils role as a charity in achieving its objectives in the local community.
Expenditure
We closely monitor the expenditure & review them againsl apptoved budget.
Reserves
11 is recognised that there is a need to keep unrestricted free reserves at a level appropriate
lo the needs of the organisation. We are working on this to build the reserves to,.
Fund unexpected expenditure. e.g. unplanned events
10

Sobus
Trustees, annual report
For the year ended 31 March 2023
Ensure conlinuily and fund shortfalls in income when income does not reach
expecledlrequired levels
Provide funds lo repla￿ assets or capital development
Cover the cost of the closure of the charity
Consideration has also been given to the level of reserves that would be appropriate for
each of these categories. The approach used to calculate the organisation's target level of
reserves is in line with the risk-based melhodology promoted by the Charity Commission. It
is based on three months, running costs for the organisation in terms of staffing,
administration and running costs together with costs of closure. As such the suggesled
required total is £60,000
This policy will be considered annually by the Board of Trustees when approving the annual
accounts. 11 will be reviewed fully every three years.
Cashflow position
Cash flow position is monitored closely and on regular basis, vh)ich helped us to identify the
issues well in advance. We took quick actions {e.g. chased debtors, contacted funders for
timely scheduled payment lo us) based on our cashflow projection.
Income Pipeline
The following existing income streams are expected to be renv•ved or there is potential for
further work when the presenl contract expires=
3SIF
HUC
DEBK
City Bridge Trust
CLCH
Wesl London Mental Health Trust
Hub income
The following new income streams are under discussion=
New licensees". Sobus has been receiving enquiries for office Spa￿ fecently. bul
none as yel have resulted in desk Spa￿ being taken. However, we are planning an
further marketing campaigns throughout Spring to publicise our hubs to a wider
audience.
Grant applications.. Wesl London NHS Trust {applicats"on to be submitted January
2024) Lottery (application submitted March 20241
Structure, governance and management
Under the Constitution and Articles of association of the charity. the T￿slee5 are ultimately
responsible for all aspects of governance,. for ensuring the aims of the charity are upheld.
overseeing strategy, safeguardin9 the charities assets", development and ensurin9 the
charity sustainability.
The day lo day management of the charity is devolved to Ihe ChiefExeculive and Staff.
11

Sobus
Trustees, annual report
For the year ended 31 March 2023
The methods used to recruit and appoint new charity Trustees
When new or additional trustees are recruited. they are elected by the members or oo-
opted by the Trustees. All Trustees are also members, and support the objectives of the
charity, as set out above.
At the third Annual Appointment Board after their appointment, a Iruslee shall retire. They
shall be eligible for reappointment provided that no Trustee may continue after six years in
office.
Statement of responsibilities of the Trustees
The Trustees {who are also directors of Sobus for the purposes ofcompany law} are
responsible for preparing the trustees annual report and the financial statement5 in
accordance with applicable law and United Kingdom Accountiro Standards (United
Kingdom Generally A￿pted Accounting Practi￿).
Cornpany 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 chantable company and of the
incoming resources and application of reSoUr￿s, induding the income and expenditure of
the charitable company for that period. In preparing these financial statements, the
Trustees are required to..
Sel-cl suil8ble accounting policies and then apply them consistenlly.
Observe the methods and principles in the Charities SORP..
Make judgements and estimates that are reasonable and ptudenl.,
Slate whether applicable UK Accounting Standards and statements of recommended
practice have been followed: subject to any material departures disclosed and
explained in the financial statements.,
Prepare the financial statements on the going Concern basis unless it is
inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with
reasonable accLtracy al any time. the financial position of the charitable compy 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.
The Trustees are responsiblè for the maintenance and integrity of the corporate and
financial information included on the charitable company s website. Legislation in the
United Kingdom goveming the preparation and dissemination of financial statements may
differ from legislation in other jurisdictions.
Statement as to disclosure to our auditors
In so far as the Trustees are aware..
There is no relevant audit information of which the charttable company's auditors are
unaware,. and
The Trustee5 have taken 811 steps that they ought to have taken to make themselves
aware of any relevant audit information and lo establish that the auditors are aware
of that information.
12

Sobus
Trustees, annual report
For the year ended 31 March 2023
Auditors
Goldwins were appointed as the auditors of the charitable Company during the year and
have expressed their willingness to continue ir) thal capacity.
The Trustees annual report has been approved by the Trustees on .
Monty Gr
Chair of
13

Independent auditors. report
To the members of Sobus
For the year ended 31 March 2023
Opinion
We have audited the financial statements of Sobus lthe'charity'lfor the year ended 31 March
2023 which comprise the Slalement of Finanryal Aclivilies, the Balance Sheet and notes lo
the financial slalements. including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is apPlUb￿ law and United
Kingdom Accounting Standards. including Financial Reporting Standaid 102." The Financial
Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the slate of the Charity's affars as al 31 March 2023 and
of Ils income and expenditure for the year then ended..
have been properly prepared in accordan￿ wlh United ￿"ngdoM Generalty Accepted
Accounting Practice",
have been prepared in accordance wth the requirements of the Cornpanies Act 2006.
Bas18 for oplnlon
We conducted our audit in accordan￿ with Inlernalional Standards on Auditing IUKI IISAS
IUKII and applicable law. Our responsibilities under those standards are further described in
the Auditor's responsibilities for Ihe audit of the Iinancial slalema)Is seclKkn of our report. We
are independenl of the Charity in accordan￿ wlh Ihe elhical requirements that are relevant
lo our audil ol the financial sialemenls 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 emdence we have obtained is sufficienl and appropriate to provide a
basis for our opinion.
Conclusions relating to golng concem
In auditing the financial stalemenls. we have Concluded that the tnjstees, use of the g￿n9
concern basis ol accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied. we have not identified any material uncertainties
relating to events or conditions that. individually or collectively. may casl significant doubl on
the charity's abilily lo conb'nue as a going concern for a period of at leasl ￿e1ve months from
when the financial slalemenls are aulhorised for issue.
Our responsibilities and the responsibilities of the directors wth respect lo gc>ing concern are
described in the relevant sections of this rep
Other information
The Iruslees are responsible for the other inforTnation. The other information comprises the
information included in the annual report other than the financial statements and our auditor s
report thereon. Our opinion on the financial slalements does not cover the other information
and. except to the extent olherwise explicitly slated in our reF%)rL we do rot express any form
ol assurance conclusion Ihereon.
In connection with our audit ol the financial statements. our responsibility is lo read the other
information and, in doing so. consider whether the olhef inlomiab.on is rnalerially inconsislenl
wlh the financial slalemenls or our knowledge obtained in the a￿lIt or otherwise appears lo
be materially misslaled. If we Klentsfy such material inconsistenc￿9 ￿ apparent material
14

Independent auditors, report
To the members of Sobus
For the year ended 31 March 2023
misslalemenls, we are required lo determine whether there is a malerial missialemenl in the
financial slalemenls or a material misstatement of the other infomiattin. If, based on the work
we have performed. we conclude that there is a material misslalement of this Other
informatior), we are required to report that fact
We have nothing lo report in this regard.
Oplniong on other matters prescilbed by the Companle8 Act 2006
In our opinion. based on the work undertaken in the course of the a￿jEt..
the information given in the Iruslees, rew)rt (incorporating the directors, report) for the
financial year for which the financial statements are prepared is consislenl with the
financial slalemenls.. and
the Iruslees, report IincofP)rating the directors. rep(Ntl have ￿en prepared in
accordance with applicable legal requifemenls.
Matters on whlch we are requlred to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained
in the course of the audit. we have not identified malerial misslalemenls in the Trustees,
Annual Report.
We have nothing to report in respecl of the following matters in relal#)n lo which the
Companies Act 2006 fequires us lo report to you ￿. in our opinion..
adequate accounting records have not been kept or retuins adequate for our audit
have not been received from branches not visited by us.,
the financial slalemenls are not in agreement with the accounting records and returns,.
certain disclosures of Iruslees, remuneration specified by law are not made., or
we have nol obtsined all the information and explanation5 ne￿SSary lor the purposes
of our audit.
Respon81blllties of the trustee8
As explained more fully in the trustees. responsibilities statemen( the Iruslees are responsible
for thè prèp8ralion of the financial slatemenls and for being salislied ihal they give a ttue and
fair view. and for such internal conlrol as they determine is ne￿$sary lo enable the preparation
of financial slalemenls that are free from material misslalemenl. whether due to fraud or error.
In preparing the financial stalemenls. the trustee5 are responsib￿ for assessing the Charity's
ability lo conbnue as a going con￿M. disclosing. as applicable. fflatters re131ed lo going
concern and using the going concern basis of accounting unless the trusteès either intend lo
liquidate the Charity or to cease operations. or have no realisbc a￿ematiVe but lo do so.
Our responsibilities for the audit of the finanGial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from malerial misslalemenl. whether due lo fraud or wror. and lo issue an
aLiditor s report that includes oui opinion. Reasonable assurance is a high level of assurance,
bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will a￿ayS delecl
a malerial misslalemenl when it exists. Misslatemenls can arise Ircxn fraud or error and are
considered material if. individually or in the aggregate. they COU￿ reasonably be expected to
Influence the economic decisions of users taken on the basis ol Ihese finanaal slalemenls.
1.5

Independent auditors, report
To the members of Sobus
For the year ended 31 March 2023
Irregularities. including fraud. are instance5 01 non-compliance *ilh laws and regijlalions. We
design procedures in line with our responsibilities. oudined atove, to delecl material
misstatements in respect of irregularities. including fraud. The extenl lo which our procedLJres
are capable of delecting irregularilies. including fraud are set out bek)w.
In identifying and assessing risks of material misslatemenl in respect of irregularities, including
fraud and non-compliance with laws and regulations. our procedures included the follow1ng.'
We enquired of management. whth included obtainir1J and remewng supporting
documenlalion, concerning the charity's policies and proc£dures relating lo the internal
controls established lo milBJale risks related lo fraud or r￿-cOMplIal￿e wlh laws and
regulations.
We inspected the minute5 of meetings of those charged wth governance.
We reviehved the financial slalemenl disclosures and lesled these to sUPPOrting
ocumenlalion lo assess compliance wrth applicable laws and iegulalions.
In addressing the risk of fraud through management override of controls, we lesled the
appropriateness of journal entries and other adjustments, assessed whether the
judgements made in making accounting estimates are indicalwe ofa potential bias and
lesled significant transaclions that are unusual or those wtshje the normal course ol
business.
Bècause of the inherent limitations of an audit. there is a risk that we will not detect all
irregularities. including those leading lo a material misslalemenl in the finana31 slalemenls or
non-compliance wlh regulation. The risk is also greater regarding irregularib.es occurring due
lo fraud rather Ihan error, as fraud involves intentional concealrnenl: forgery, collusion,
omission or misrepresenlalion.
A further description of our responsibilities for the audit of Ihe financial slalements is Iccaled
on the Financial Reporting Council's website al." IvNM.frc.org.uklaudilorsresponsibililiesl. This
description forms part of our auditoi's report
This report is made solely to the Charity s members. as a body. in accordance Nmth Chapter 3
of Parl 16 of the Companies Act 2006. Our audit work has been undertaken so that we might
slate lo the Charity s members those mallers we are required 10 state to them in an auditor's
report and for no other purpose. To the fullest exlenl pemiilled by law. we do not accept or
assume responsibility lo anyone olher than the Charity and the Charity's members as a bcxyy,
for our audil work, for this report or for Ihe opinions we have formed.
Anthony Epton (Senior Stalutory Auditor)
for and on behalf of
Goldwins Limited
statutory Auditor
Chartered Accountants
75 Maygrove Road
Wesl Hampstead
London NW6 2EG
20 December 2023
16

Sobus
Statement of financlal activities (including income and expenditure account)
For tlie year elided 31 March 2023
2023
Total
lund$
2022
Total
lund5
Unrestricted Restricted
funds
fufids
Note
Income from..
Donations and legaues
15.IKX)
110.(KK)
125,000
162.921
Charitable activities
25,450
Othèr trading activities
Inve5trnent incorne
251.685
251,685
253
235.821
253
Total Income
266,938
110,000
376.938
424,200
Expenditure on..
Charitable activities
Other trading 8Ctivilies
Total expenditure
120.750
120.7SO
282.036
150,501
259,433
282.036
282,036
120,750
402.786
409,934
Net income I lexpenditurel
115 0981
{10,7501
125,8481
14.266
Net movemenl Sn funds
11S,0981
110,7501
{25,8481
14.266
Reconciliation of funds=
Total funds broughl fotward
Totsl funds carried forwaTd
1.520.331
20.250
1,540,S81
1.526.315
I,SOS.233
9.500
1,514,733
1.$40.581
All of the above results are derbved fvown continuing activib"es.
There were no other recognised gains or tosses other than those stated al¥￿e.
The attached notes foim part ol these finaThial statemenls.
17

Sobus
Balance sheet
As at 31 March 2023
2023
2023
2022
2022
Note
Fixed assets:
Tangible asseis
Cuffent asyets..
Debtors
Cash al bank and in hand
11
1.525.654
1,528,308
12
25,679
26,707
S2,386
29.611
58.687
88,298
Creditors.. amounts falling due within one year
13
163,3071
176.0251
Net current assets I Iliabilitièsl
110.921)
12,273
Total net assets
1,514.733
1,540.581
Funds
Restricted funds
Unrestricted funds..
General funds
Other Funds- Building
Total unrestricted fvlnds
9.500
20.250
120.4211
1.525.654
17,9771
1,528.308
1,505.233
1.520.331
Totsl funds
1S
1.514.733
1,540.581
The financial slatemenls have been prepared in accordance the speaal prom5￿1n$ for srnall OYnpan￿S
under Part15 01 the Companies Act 2006.
Approved by the trustees on
and signed on their behalf by".
20th December 2023
Trustee
Company reglstration no. 03471416
The attached notes form part ol the finanaal statemenls.
18

Sobus
Notes to the financial Statements
For the year ended 31 Marcli 2023
1 Accounting policies
Basis of preparation
The finan¢xal statements have been prepared in accordance wth Aco)unb"ng and Reporting by
Charities. Statement of Reo)mmended Practice applicable to charit*s preparing their accounls in
accordan￿ with the Financial ReportiTrg Standard applicable in the UK and Republic of Ireland IFRS
1021 . Icharities SORP FRS 1021 and the Companies Act 20(￿.
The oharitable cornpany meets the definrtion of a public benefit entity ur¥Jer FRS 102. Assets and
113bilities are inrtialty recognised at historical cost or transactson value unless otherwise staled in the
relevant accounting policy or note.
The charitable cornp8ny is exempted from p￿paring 3 cash rtow siaten*nl due (o exemption availablé
to charities with income of less than £SW,000.
Going concern
The trustees consider that there arè no material uncertainties about the tharitab￿ companys ability to
continue as a gtsing concern. The Irustees do nol consider thal Ihere are any source5 01 estimation
unortainty at the reporting dale Ihal have a s￿nIficant iisk ol causing a rrtalèrial adjustment lo the
carrying amounts of assets and liabililies wilhin Ihe next ieporting period.
Incorne
Income is recognised when the charity has ent￿eMen1 to the funds any perfotman¢è conditions
attached to the income have been mel. rt is probable Ihal the In¢￿Me WIH be iec£ived and that Ihe
amounl can be measured feliably.
Donation$ of glfts, services and facilities
Donaled profession21 services and donated facilib.es are recognised as income when the charity has
control over the item or received the sérvice. any Condit￿n5 as50cialed with the dDnation have been
mel, the receipt of economic benefit from ihe use by Ihe d)arily of the item is probable and that
economic benefit can be measured reliabfy.Volunteer lime is r¢ol recognised sg refer to the Iruslees,
annual report for more informab.on about their contribution.
On receipl, donated gifts. prolèssK)nal services and donated facilities are wnised on the b3sis of
the value of the gift to the charity which is the amounl the charty viould have bw wlling to pay to
obtain Se￿ICeS or lacililies ol equivalent economic benefit ora the cyen market,. a corresponding
amount is then recognised in expenditure in the period ol receipl.
Inlerest receivable
Interest on funds held on deposit is induded when recesvable and the amount can be measured
reliably by the charity". Ihis is normally upon nolthcation ol the interest p¥4d or payable by the bank.
Fund accounting
Unreslficled funds a￿ available to spend on actiwties that furlher any ol the pffj)oses of charity.
Designated funds are unreslricied funds of the Gharity which Ihe tW5tees have decided al their
discretion lo sel 85ide to use for a sp￿￿[1¢ puipose. Resiricted tund5 are donation5 whiGh the donor
has specified are tts be solety Used for particular area5 of the tharity"5 w(Hk oi for Specif￿ project5
being undertaken by the charity.
19

Sobus
Notes to the financial statements
For the yeai elided 31 March 2023
Operating leases
Rental charges are d)arged on a Straighl line basis over the tem) of the ka*.
Aecounting policies l¢ontinuedl
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or conslruclive obligation to make a payment tts a Ihird
party. it is probable Ihat seltlemenl will be required and the amouni of the obligation can be measured
reliably. Expenditure is dassified urmler the following actiwly headings..
Costs of raising funds comprise of trading costs and the costs incurred by the charitable
company in induang third partiès lo make voluntary (x)ntribLrtions to IL as well as the cx)sl ol any
activities with a fundraising purpose.
Expenditure on charitable activities indudes the cx>sts of delNering serVi￿S undertaken to further
the purposes of the chaity and their asswated support costs.
Other expenditure represents those items nol falling into any Othelhe￿rng.
Irre¢overable VAT is charged a5 a cost against the activity foi whKI) the expenditure wa5 ir￿Urred.
Allocation of support costs
Support costs are those luncbons that assist the wotk of the tharity bul do not directly undertake
rharilable activities. Support cosls indude back office costs. finance, personnel. payroll and
governance costs which support the charity and Fls and activities. These ry)sls have been alloG31ed
between cost ol raising funds and expenditure on charFiable activitses. The bases on which support
Costs have been allocated are set out in note 7.
Tangible fixed assets
Iteffls of equipment are capilalised where the purchase pr￿e exceeds £500. Deprec4ation is provided
at r8les calGulaled lo wiite down Ihe wsl of eath asset lo its eslimaled residual value over ils
expected useful life. The depreaatson lates in use are as follows..
Land and buildings
Fixtures and fittings
254% straighl line
Computer equipment
33.33°A straight line
Buildings are not deprecialed as, in the opinion ol the Sob¢Js Trustees, the kyoperty will appreaate due
to the London property market. Although thi5 treatmerkl 15 contiary to Compan*s Ad 2006 which
slates th81 fixed assets should be depreaaled this is. in the opinion of the trustees. necessary in order
to give a true and laii wew of the 855el's Itue value. Sobus will revalue the assets al ￿a51 every 5
years subject to affordability.
Debtors
Trade and other debtors are ¥ecognised al the selllement amount due after trade discount offered.
Piepaytnents are valued al the arnounl prepaid net ol any trade discoun15 due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly Iquid investments with a short
aluiity of three months or le55 from the dale of acquisrtion or opening of the deFQSit ￿ similar
Creditors anfl provisions
Creditors and provisions are recognlsed where the charity ha5 a tyewt obligation resulting from
past event that will probably resutt in the transfer of funds to a third party and the amount due to 5etle
the obligation can be meaSU￿d or estimated reliably.CreditOf5 and proyi%ons a￿ nomially re¢ognised
ai Iheir seltlenient arnount after allowing foi any trade discounts due.
20

Sobus
Notes to the financial statements
For the year ended 31 March 2023
2 Detailed comparatives for the statemtnt of financial activibes
2022
unrestli￿ed
2022
Reslr4ded
2022
Total
Income from:
Donations and legacies
20.421
142,5
1fj2.921
Charitable a¢bMlies
Olhei charitable 3cliviliès
Investments
Total income
25.450
25.450
235,821
235,821
256.250
167,950
424.200
Expenditu￿ on..
Chaiilablé acliwlies
Other charitable actiwlies
1￿.501
150.501
259.433
259.433
Total expenditur•
259.433
1 S).501
409.934
Net income l Èxpendlture
13,1831
17.449
14,266
Transfers betrween funds
Net movement in funds
13.1831
17.449
14,266
Total funds brought forward
Total funds carried forward
1,523.514
1.520.331
2.801
20,250
1.526.315
1.540.581
3 In¢ome from donations and legaclès
2023
Total
2022
Total
Unrestricted
Reslricled
Donations and grants
1S.CM)O
15.000
110.(KJO
110.COO
125.000
125,000
162,921
162.921
21

Sobus
Notes to the financial statements
For the year ended 31 March 2023
4 Income from charitable activities
2023
2022
Total
Unieslricled
Restrwaed
Total
Bullding Capacity
Dr Edwards 8 Bishop Kings
Hammersmilh United Charities IHUC)
Total for Building Capacity
10.000
15.450
25,450
Total income from charitable activitTres
25,450
S Income from other trading activities
2023
Total
2022
Total
Unrestricted
Restricaed
Licensees
Room hirè and other offi¢e servi￿5
North End Road rental
162.670
58,136
311.879
251.685
162.670
58,136
30.879
251,685
141.142
54.679
40.000
235.821
Income from other trading activities indudes fental income received Iiom commeraal organisations.
6 Income from investments
2023
Total
2022
Total
Unfestncied
ResttK*ed
Bank interest
253
253
Investment inGome
253
253
22

Sobus
Notes to the financial statements
For the
ear ended 31 March 2023
7 Analysss of expenditure
Current year
Charitable Other trading
Activilies
activities
Support
ost$
2023
Total
2022
Total
Staff costs
Other staff cost
Project delivery cosls
Premises 005ts
Maiketing & PmmoiJ"on
Office & Admin
Audit lee
61,986
107.545
73,512
243,043
S,355
2,000
76,792
7,052
65.644
2,900
251,667
8.495
11,OC4J
65.716
8.185
62.021
2.850
72.851
313
39.877
3.941
4.733
25.767
68.719
220.586
113,481
402,786
409,934
Support Costs
52.031
61.450
{113,4811
Total expènditure
120.750
282.036
402,786
409.934
Of the total expenditure. £282.036 was unrèstrided12022." £259.4331 ￿ £120.750 was restrided12022'.
£150,501}.
Analysis of expenditure
Prior year
Chatlia￿e
Acbwties
Othe¥ trading
a(*vities
Support
Costs
2022
Total
2021
Total
Staff cosls
Othei staff cost
Project delivery costs
Premises costs
Marketing & Promoli
Office & Adrrin
Audit fee
74.754
93.353
45
83.560
8,450
11.000
4.433
2.596
27.218
2.850
251.667
8,495
254.916
294
17,400
66.986
6,659
82.734
2,750
61.283
240
34.803
65.716
8.185
62.021
5.349
80.103
189.724
140.107
409,934
431.739
Support oosls
59.397
80.710
1140.1071
Total expenditure
139,5LKI
270.434
409.934
431,739
23

Sobus
Notes to the linancial statements
For the year ended 31 March 2023
8 Net Income I lexpendltur*l foi th• yèar
is slaled after tharging I luedthNJl
2023
2022
Depreaalion
ALhYitrKs remunera￿.
Audit fees
2.654
3.387
3,250
2.850
Analysis of Staff tosts, trustse remunern¥on and expensvs.
and ¢051 of key managetwnt pernonnel
staff costs were as fokns..
2023
2022
Sala￿$ and wages
Social s8cunty c051s
Eniployer 5 contribution lodeftned cth)Irtxrtp)n x*ert*s
215,568
16,2S9
222.915
16.877
243,043
251.667
One employee re¢ei¥ed emph)y* i*nefib rtKVE than E60.1)00 d￿r￿j Ihe ye￿.
The low emith)yee bw*fjlS incknlu¥J pÈnsK)n conknbubons of the key manaoenbEnt were [62.559 Q022".
£62.2731.
The challty IFuslees were not paxl or receNed any olhw ￿er￿S enWyn*nl the Tnpsl In the year 12022.
EDID neither were ￿e￿nbUl5ed expwws diifing year 12022. £tr)11. 140 chanty truske te¢eived poymenl
pr[}fes￿onalor other ser¥Ke5 suppkd lothecharity (2022 Enl).
staff numbtr
The averaue nUM￿r0[eMp￿ ￿ar￿a5 as follthY5".
2023
No.
2022
Charilable xtyvilies
10 Taxation
The chariLHtrle conwany i8 exempl etyp)ralA)n t• as all ils is chaiiabk ar¥J 15 4ppfjed fur L*aTitab
purpose5.
24

Sobus
Notes to the finantial statornents
For the year ended 31 March 2023
11 T*nglbl* lixed assets
Fith
iywetty 8nd r•
Ccthpui
Yolal
Cost
Al Ihe start of the year
AddilKnsin year
Al the end of the year
2.602.L
94.301
55.754
2.752.055
2.602.000
94.301
55.754
2,752,055
Depie¢lation and Impairrnent
Al the siart of Ihe year
Charge Iu the year
Al the end of year
1.077.OlX)
92.0
2.216
94.301
54.662
438
55,1(h)
1.223.747
2.654
122$,401
1.077.1KK
Net book value
At the end of tho yoar
1.525.WO
654
1.525.654
At the start of ￿e year
1.525.000
2.216
1.092
1.528.308
Freehokl property indude5 the wopert￿S al ZO Road ￿ 363 Norlh Erkl Road. tknakd 10 FCPT
by London BorDugh ol Harnrnersmrfh and Fthm during Ihe pewd ended 31.03.2012 br the arno￿1 of fl,030.000
ana £395.(M)O respeuwdy. Ffftr(È¥ekwwlcostsof c(thed aDkxJnl of£1.177.OOOha¥t Lw cawiaW8ed.
All ol Ihe above as5e15 are used forduritab￿ purw5es.
12 Deblo
2023
2022
Trade detilor5
Prepaymenis
Ac¢tued Inc(wn6
11.581
7.098
12.613
16.076
922
29.611
25,679
13 Cfèdftors.. arnounts i￿1￿n9 due wlthln one year
2023
2022
Trade creditors
Taxal￿rt and sooal s8tyJiit¥
Olhercredii¢rs
A¢¢ru81s
C*ferrea ￿c0
31,011
5,160
1383
19.243
&510
63,307
31.920
6.732
6.624
17.779
12.970
76.025
Deferred income
202J
2022
Balance al the beginniro Qllhe year
ounl defefred in the ye
Amount releaséd io Incwts in Iheye
Balance al the efid of Ihe year
11970
5,510
112.9701
5.510
29.181
12.970
12.970
25

Sobus
Notes to the fjnancial statements
For the year ended 31 March 2023
14 Analysis of #ot *$sets betsveen fun*Js
Current yea
G•tr)•ral
urbrtr¥tricted R?¥lrl¢ted
lunds
Tangible fixed assets
l.S25.654
1,525.654
9.50D
Net a$sets ai the •nd ol the y04r
An8tysk% of nei assets L*tweeth funds
prroryear
Tow
Tan9ibk fixed assets
Nel Cur￿n1 assetsl Iliabilthes}
Nei assets al the end of the year
1.528.3Th
17.9771
1.520.JJI
1.528.308
12.273
I.YO.581
20.250
20250
15 Movern•nts In fund$
Current year
Atthe
start ol
th• year
Atth*
end of
the y•*r
In¢¢)ft* Expendllur•
Trarsfe
Resthcteo fund5-.
L8HF 3rd Sector Invesbxent Fund
Hammer5niith United Charibes
110.000
110.(XYJ
8.790
6.750
CLC
9.500
rot31 v95trfficted fund$
20,250
110,000
120.750
Llnre9tr1tt¢d lund$
Other FuThls- BuiklvTrg
1.528.308
2.654
1,525,654
Genera ￿ndS
17.9771
268,938
279.382
120.4211
Total unrEstrf£tÈd funds
1.$20.331
282,03
Total lund$
26

Sobus
Notes to the flnanclal ststements
For tlie year ended 31 March 2023
15 Mo¥•m•nt$ In luKd$ Iconllnuedl
Movemen15 in futKI$
Prh)i year
Ihe
start ol
the year
Altt* end
of thE year
IrKonE Expenditu
Tr•51￿5
Resthcled lunds
LBHF 3Td Sector Invesimtri Fw
Hammetsmilh United CharilEs
Or F￿ardS & PAshop King5
co￿￿0dle
CLC
Wesl Londtrn Heahh Partnethp Limne
Total re51riGled fund5
110.0(K)
15.450
10.IM)
10 0(K>
22_500
110.000
6.700
10.000
8.750
11.500
2.801
167.950
150.5DI
20.250
Unreslrithed fij[￿$
Olber Funds- Btsfiding
1.530.384
2.076
1,528.308
Generdl tund$
{6.870)
256.250
257.357
17.9771
Total unreslricled
Total funds
Purpos95 01 Te$trftted funds
Re3￿cted funds To run capacrty bulk1￿19 seThices lo kncal Thinj Sth txyanisakns woss the bDrouyh. Thè
benefits InGlude ￿lIdIng orgaDi%alwyo1 ¢apautEs. kxal ax[￿Ur￿lieS. gfowir¥J Cornm￿1ty assets an
promoting ￿)￿31 enletprise.
16 Leg31 $13tus ol the charity
The charity LS a company limited by gu￿antee and h*5 rn sh¥ie Ca￿￿￿1. w nwrtw is bble lo ￿￿trIbUte a sum
not eX￿dIng £1 in Ihe evenlol the dwrity besw wound up.
17 Rélated p•rty ttsth$a¢tloMs
Theft alè no re￿Ied party transadiMs to d￿se br202312022". T￿1.
27