Sobus
Annual report for the year ended 31 March 2024
sobus
strengthening communlties

Sobus
Annual report for the year ended 31 March 2024
Contents
Page
Reference and administrative information
Trustees, annual report
4-14
Independent auditors, report
15.17
Statement of financial activities
{incorporating an income and expenditure account)
18
Balance sheet
19
Notes to the financial statements
20-28

Sobus
Annual report for the year ended 31 March 2024
Trustees:
Chair.'Monty Grigg
Treasurer: Phillip Amy
Vice Chair.. Liam Clipsham
Trustee," Susie Howard
Trustee.. Noushin Pasgar (appointed September 2023)
Trustee.. Richard Brunwin
Trustee: Baden Prince (resigned December 2023)
Trustee.. Sanja Dujmovic Potnar (resigned November 2023)
Chief Executive and
Company Secretary;
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
Solicitors
PWW Solicitors
84 Eccleston Square
London SW1V 1 PX

Sobus
Annual report for the year ended 31 March 2024
Aims and Objectives
Our Aims:
Sobus is a registered charity, charity no. 1071089 and a company limited by guarantee.
The objects, as set out in the Memorandum and Articles of Association are..
To promote any charitable purpose for the benefit of the public in the London
Borough of Hammersmith 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 Hammersmith and Fulham and surrounding area
and promote and organise co-operation between the Voluntary Sector, statutory
bodies and other bodies as appropriate to further the Objects of Ihe Charity.
We aim, through our range of high quality services to support and enable the voluntary
organisations oper¢lting in Hammersmith and Fulham to be a collective thriving aiid
significant sector which better identifies and supports th& needs and aspirations of our
communities, We seek to broker a range of niutually beneficial relationships between the
Voluntary and Community Sector (VCS) and statutory, private and other VCS
organisations. We provide a range of resources to promote information and intelligence to
the sector so that they are better able to respond to the needs of the area. We deliver
capacity building such as one to one advice, traiiiing and events to support the growth and
development of VCS. We provide high quality and affordable office space to organisations
to rLin their organisation.
Our Objectives:
Our objectives are geared lo ensLiring the delivery of our vision as outlined in our strategy
and in our governiiig document. In setting, our objectives and planning our activities our
Governors have given careful consideration to the Charity Commission's public benefit
guidance.
Our key objectives for the year included..
To build the resilience and stability of local 3rd sector organisations through effective
capacity building
To support the sector in demonstrating its impact individually and collectively
To facilitate collaboration, cooperation and partnèrships with and between the local
3rd sector
To facilitate the voice of the 3rd sector in local strategic opportunities and
developments
to continue to ensure that Sobus directory and resources are up to date
to stabilise our provision of affordable office space
to develop effective enterprise support around our Freston Road Hub
2023-24 Review
Introduction
3 years since the initial Covid lock-down, we are continuing to feel the impact on the charity
sector. "Normal" ways of working have changed since the pandernic, with the trend for online

Sobus
Annual report for the year ended 31 March 2024
and home working continuing for many. Our own work operated throughout the year as a
hybrid between online and offline engagement with partners, groups and communities.
The biggest ongoing impact of Covid on Sobus has been the continued lower use of our 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 Freston Road hubs have yet to return to their pre-covid
figures- and we anticipate that hybrid and online meetings will continue as the "new normal"
in the future. However, office space use began to pick up towards the end of the year, with
nearly full capacity at Dawes Road hub, and the letting of previously vacant offices at Freston
Road hub.
The majority of groups we worked with continued to work with us predominantly online,
though we have seen a welcome 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. Most groups are pleased to have opportunities to meet in person, though the
convenience of attending online is still attractive to many.
Strategic plan
During this year, we continued the implementation of our 5-year strategic plan.
Our vision is of strong and engaged communities, where residents and
organisations are empowered to make a positive difference to the causes they
believe in, and our mission is to achieve this through providing voice,
representation and support to residents through the organisations that support
them.
Sobus is continuing to pursue the following strategic objectives
1. Support a stronger, sustainable Voluntary Community Sector (VCS) in LBHF
2. Strengthen the voice of the VCS and those they support
3. Develop and support Collaboration, Cooperation and Coordination with and between
the VCS, and build 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 organisations continued to look for our support to network, connect and
collaborate with other VCS and statutory sector services. Our forums continued to be well
attended, with a number of collaborations arising from these. Most notably, the ongoing
development of Ageing Well Grants, initiated through the Sobus POPS Forum, and provided
opportunities to link newly emerging organisations with more established groups, to develop
a peer mentoring service to groups who secured grant funding. A further tendering
programme for this fund was undertaken during this financial year
however, insufficient
applications which met the funders criteria were not achieved, resulting in an underspend of
this grant. The funder, CLCH negotiated with Sobus to use the underspend to resource a

Sobus
Annual report for the year ended 31 March 2024
signposting service, delivered by Sobus. It is anticipated that the funds for this will enable
the service to commence in early 24-25.
Sobus has continued to support the Hammersmith & Fulham Mental Health Grants
programme funded by West London NHS Trust. As a formal partner in this project, Sobus
successfully negotiated an extension of the grants into the 23-24 financial year. In January
2024, the opportunity to manage this grants programme going forward, with a longer term
project to support community mental health services was tendered, and for which we bid.
Unfortunately, we were not successful - but no other provider was offered the contract either.
As this year draws to a close, Sobus awaits further updates from NWL NHS Trust on how the
programme will be delivered. Sobus has undertaken extensive work on this project- but will
need to withdraw in early 24-25 if we are not funded to deliver our work in this area.
Engagement and representation with health providers at a strategic level has continued.
Sobus is a formal partner in the HF Health & Care Partnership (Formerly known as the HF
Integrated Care Partnership). This involvement is not only at the higher strategic levels but
also campaign groups including mental health, frailty and diabetes and their subgroups. One
of the tasks for Sobus is to help increase the representation on these plafforms 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.
Our POPS (Providers of older people's services) continued throughout the year. This group
is exceptionally well attended, with a variety of statutory services seeking to attend to present
information, service updates or get feedback at every meeting. One downside to this success
was that we found many statutory sector officers attending uninvited, with some meetings
then beginning to feel like a statutory sector event that VCS organisations were being invited
to. After feedback from POPS members, processes and membership was tightened to
ensure that this remains a VCS led forum- and guests may only attend by invitation.
We did attempt to establish a Children & Families forum this year- however, attendance at
the inaugural meeting was low. Further efforts will be put into reshaping this forum, with input
from local Children & Families VCS organisations, to rethink the scope and format of such a
forum.
The CEO Forum continues to be appreciated by the sector. Many VCS organisations have
requested that these be more of a networking event, rather than subjectltopic focussed, to
provide more opportunities for local CEOS and senior managers to meet and network
informally.
Sobus has been pleased to be a key organisation in the local Cosl of Living Alliance. Led by
LBHF, the alliance brings together statutory and voluntary sector services to address the
issues being faced by residents due to the ongoing increases in Ihe cost of living. Sobus is
working with partners across the alliance on two key strands of work- VCS training, and an
online signposting service, which is expected to go live by autumn 2024..

Sobus
Annual report for the year ended 31 March 2024
Grants
Our main grant from the local authority- the LBHF 3rd Sector Investment Fund (3SIF), was
intended to be recommissioned in this financial year. Sobus has supported the local
authority's coproduction process of this fund since 2022, including hosting and facilitating a
number of coproduction events - but unfortunately were disappointed in the pace and lack of
progress of this piece 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.
Eventually, LBHF extended all current funding agreements until early 2025- it is anticipated
that the fund will be reopened for applications sometime in surnmer 2024 in order for the
process of advertising, applying, assessing and awarding is completed by early 2025.
We were pleased to secure three year funding from City Bridge Trust for 3D Voice- a project
to empower the voice of small BAME led VCS organisations. Sobus was notified of our
successful application in 22-23, but due to delays in recruitment, the project (and receipt of
funding) did not commence until May 2023.
Organisational Development
OLir Organisational Developnient Officer left Sobus in December 2022, as Ihe uncertainty of
the funding of the role continued, with the local authority's main grants programme still
uncertain, and not committed beyond the end of this financial year. Sobus has sought to fill
the role - but due to lack of job certainty (especially in the current cost of living crisis), has
not yet managed to fill this role,
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,
but fundraising is particularly an issue with groups facing the current challenges of the cost
of living crisis - both on the clients they support, and their own organisalions.
We began to offer specific drop-in service sessions at Dawes Road Hub on Tuesday
mornings and Thursday afternoons. Whilst some groups have made use of this offer, the
majority continue to contact us via email, which in tandem with phone calls, remains the most
common engagement route with most groups.
The grant funding sector continues to be challenging
with funding being more difficult to
secure, and less longer term funding opportunities available to the sector overall. However,
we were delighted to secure three year fundirng from City Bridge Trust in this financial year to
develop 3D Voice, a project to support and empower the voices of unheard BAME led
organisations. The project will commence in early 23-24.
Community Organising
Our community organising service is not funded through 3SIF, but is complirnentary to our
3SIF funded work. Our community organiser works directly with local residents, and with
groups of residents who are interested in engaging with, or tackling a shared issue of concern
or interest. This has included bringing together residents who are parents of dependent
adults witli autism. and supporting tenants of a local RSL to develop a TRA. The community
organiser is a member of the local Building Trust initiative, and has worked with colleagues,

Sobus
Annual report for the year ended 31 March 2024
including LBHF to organise and facilitate listening opportunities to hear the voice of residents
which are often unheard.
The Communily Organiser, as part of their work in reaching local residents, will often
introduce residents to local services and organisations, but also feeds back the insignts and
messages she hears into local services and forums. For example, she sits on local Local
Neighbourhood panels, liaison meetings with the local police and services supporting at risk
families,
3D Voice
This comnienced in May 2023, though it has been a struggle to engage with small, under-
represented groups. There are several main difficulties.
1. Finding the groups to contact. Our 3D Voice off icer has visited local venues and halls
for hire, trying to make contact with grass roots organisations that use their spaces
2. Persuading groups to engage
which is often a challenge where groups are
prioritising client support over being engagedlinvolved - often as they don't recognise
that this would bring benefits to their organisation or the residents they support.
3. Lack of dedicated capacity building within the team to work with increased numbers of
small groups
To date, 3D Voice has contacted 96 groups, with aroLind 50 continuing to be engaged with
the service. A key challenge has been to sufficieiitly encourage and interest groups in
participating in wider forums, networks and events. The majority of groups have welcomed
support with their development, including fundraising, training (on governance structures and
social media), bul lack the capacity and time to engage in external activities.
Asset management
Sobus owns 363 North End Road, a ground and basement floor cornmercial property, and
the freehold to the two residential units above. The property has been let to tenants since
Sobus acquired it in 2014. Since 2018, the property was rented to the London BoroLigh 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 to the best use of the property going forward, and
determined that the property woiild be marketed for disposal, providing an opportunity for
SobLlS to realise a significant capital receipt which would offer a stabilisation of our cash
position and allow for immediate and longer term investments that would support the future
of the charity. The property was therefore put on the market and an offer was received and
accepted in October 2023. We anticipate realising this capital receipt early in the next
financial year.
Our hubs at Dawes Road and Freston Road continued to be used by 3rd sector and private
companies, with 72 % of useage of Dawes Road Hub being by 3rd sector organisations.
Over this financial year, Dawes Road Hub achieved 850/0 and Freston Road Hub achieved
790/0 occupancy.

Sobus
Annual report for the year ended 31 March 2024
Whilst Freston Road Hub continues to offer low cost rates, introductory special offers and
additional bLisiness support for start-up businesses and local entrepreneurs, there remains a
low take LIP of these offers by our target audience. For the rnost part, this is due to a broad
range of business support, training and resources being available through Portobello
Business Centre. In addition, not only are more companies needing less office space (with
working from home and hybrid arrangements being continued, together with the continued
increases of online meetings being held rather than in-person), there does not seem to be
the demand for space as there was pre-covid. We will continue to explore other business
and employment support initiatives that could be offered from this site,
Achievements and activities in 23-24
110 VCS groups provided
wlth casework support
300 organisations
provided with 1-2-1
support, advice or
information
3 "Meet the funder"
events, attended by 48
or
anisations
12 newsletters and 12
fundlng bulletins sent to
over 1,200 recipients
86 VCS organisations
attending forums,
networks and events
Supported the Cost of
Llvlng Crisls workshops
Supported and facllitated
8 3SIF Coproduction
meetings
Increased our social
media presence and
updated our website
Secured an extension of a
local grants programme
for older people's
wellbeing services
Commenced 3D Voice
project, 96 groups
contacted and 50 engaged
4 new projects or
inltlatlves started,
supported by our
Communlty Organlslng
service
12 VCS organisations
have office space in our
hubs. 31 VCS
organisations used our
meetin
aces
room SL...
Supported the realisation
of 34 collaborations or
partnerships
52 groups supported to;, ;.,,
successfully apply for
grants
452 Indlvlduals engaged
with our Communlty
Organlslng Servlce i:,
Supported groups to
secure £180k of new grant
funding
Provided support to 14
groups receiving Mental
Health Grants
Engaged In over 50 Health
& Care Partnershlp
meetings and events
Challengeslbarriers in 23-24
Area
Impact
Functions are being picked LIP by
CEO and Head of Partnerships,
but the additional work is difficult to
maintain long term.
Mitigation
Looking at reshaping other
roles in the team to SLSPPOrt our
capacity building offer-
including follow ups and
feedback from or
anisations
Lack of dedicated
capacity building
support

Sobus
Annual report for the year ended 31 March 2024
Current staff invited to
contributelparticipate in a high
number of areas of work - but
without funding
Will have to rationalise our
contributions to areas of work
that we are not resourced to
participate in.
Lack of capacity
Reaching new
groups
Hard to find, and unwilling to
engage
Further work needed to look at
what incentives might work -
e.g. 1-2-1 fundraising support
Unable to invest in niuch needed
ICT equipment, additional staffing
and database update.
Some investment from capital
receipt in 24-25, plus more
proactive fundraising activities
Lack of funding
Sobus welcomed the 5 % uplift provided by LBHF in this financial year. This enabled Sobus
to offer a salary uplift to staff involved in delivering 3SIF funded activities, and meet some of
the increased costs that Sobus has been facing for some time.
Looking forward
The most pressing priorily for the year ahead is to generate and raise funds- both through
increased use of our hubs, and through fundraising activities, and to prepare for the launch
of 3SIF, both in terms of shaping and creating our own applications, but also ensuring we
are providing quality support to other VCS organisations with their applications. We would
hope to host a number of workshops in partnership with LBHF, followed by 1-2-1 support
where needed.
FLinding for infrastructure, or 2nd tier services has always been difficult to secure, as
funders typlccilly prefer to resource front line services. We expect this focus to continue
Sobus will need to prioritise creative fundraising approaches, including developing
collaborative bids with other organisations to ensLire our sustainability and future
development.
Establishing a more structured organisational developmentlcapacity building support
service in 24-25 will be a priority for the team, including making more use of our regLilar
drop in sessions, the development of more training activities - working with other local
infrastructure providers to ensure a comprehensive package of training and support is
available and coordinated for local VCS organisations.
Sobus is disposing of a property, and has received and accepted an offer. It is anticipated
that the sale will conclude in early 2024-25, and trustees will consider investment options
for the capital receipt, likely to be a combination of longer term incorne generating
investments, and some investment in Sobus serviceslinfrastructure to support the
continued success of the organisations in future years.

Sobus
Annual report for the year ended 31 March 2024
Going Concern Status
Recommendation
Based on the recent results, the anticipated capital receipt from the sale of 363 North End
Road and the forecast for foreseeable future, we believe that there are no material
uncertainties about the Sobus's ability to continue as a going concern.
Income
We have continued to see a reduction in our room hire income compared to pre-Covid-19
levels, and expect that the move to online and hybrid meeting styles will continue for the
foreseeable future. However, desk hire levels have remained robust during the year, and
our key grant has been maintained.
The Senior Leadership Team is keeping the situation under close review.
Income
3rd Sector Investment Fund (Infrastructure service)..
City Bridge Trust
CLCH
West London Mental Health Trust
DRH
Licensee income (32 of 40 desks are currently in use, including 2 hot desks)
Room hire
Service income
FRH
Licensee income (37 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 lo market the property for
disposal, and the property was put on the market.
The property is being marketed and at the time of writing this report, an offer of £610,000
has been received and accepted. The Board is developing a Strategic Investment Plan
that will best strengthen the charity's financial position in the long term, but primarily
strengthen its role as a charity in achieving its objectives in the local cornmunity.
Expenditure
We closely monitor the expenditure & review them against approved budget.
Reserves
It is recognised that there is a need to keep unrestricted free reserves at a level appropriate
to the needs of the organisation. We are working on this to build the reserves to.

Sobus
Annual report for the year ended 31 March 2024
Fuiid unexpected expenditure, e.g. unplanned events
Ensure continuity and fund shortfalls in income when income does not reach
expected/required levels
Provide funds to replace 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 methodology promoted by the Charity Commission. It
is based on three months, running costs for the organisation in terms of staffing,
adminislralion and running costs together with costs of closure. As such the suggested
required total is £60,000.
This policy will be considered annually by the Board of Trustees when approving the annual
accounts, It will be reviewed fully every three years.
Cashflow position
Cash flow position is monitored closely and on regular basis, which helped us to identify the
issues well in advance. We took quick actions {e.g. chased debtors, contacted funders for
timely schediiled payment to us) based on our cashflow projection,
Income Pipeline
The following existing income streams are expected or there is potential for further work
when the present contract expires:
3SIF
HUC
DEBK
City Bridge Trust
CLCH
West London Mental Health Trust
Hub income
The following new income streams are under discussion.,
New licensees.. Sobus has been receiving enquiries for office space recently, but
none as yet have resulted in desk space being taken. However, we are planning an
further marketing campaigns tliroughoul 24-25 to publicise our hubs lo a wider
aLidience.
Grant applications.. 3SIF- expected to be invited to apply dLiring 2024
Structure, governance and management
Under the Constitution and Articles of association of the charity, the Trustees are Liltimately
responsible for all aspects of governance., for ensuring the aims of the charity are upheld,
overseeing strategy, safeguarding the charities assets., development and ensuring the
charity sustainability.
The day to day management of the charity is devolved to the Chief Executive and Staff.
The methods used to recruit and appoint new charity Trustees
12

Sobus
Annual report for the year ended 31 March 2024
When new or additiorial trustees are recruited, they are elected by the members or co-
opted by the TrLislees. All trustee candidates are required to submit a written application
which is circulated to all trustees, and are interviewed by the Chair of Trustees and the
CEO. The recommendation by the Chair is circulated to all Trustees before the position is
offered. All Trustees are also members, and support the objectives of the charity, as set
out above.
Statement of responsibilities of the Trustees
The Trustees (who are also directors of Sobus for the purposes of company law) are
responsible for preparing the trustees annual 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, inclLiding the income and expenditure of
the charitable company for that period. In preparing these financial statements, the
Trustees are reqLiired to:
Select suitable accounting policies and then apply them consistently,.
Observe the methods and principles In the Charities SORP..
Make jLidgements and estimates that are reasonable and prudent.,
Stale whetlier applicable UK Accounting Standards and slalements of
reconimended practice liave been followed, subject lo any material departures
disclosed and explained in the financial statements.,
Prepare the fiiiancial slateiiients 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 accuracy at 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 forthe prevention and detection
of fraud and other irregularities.
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 statenients 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 charitable company's auditors
are unaware,. and
Tlie Trustees have taken all steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish Ihc1t the
auditors are aware of that information.
13

Sobus
Annual report for the year ended 31 March 2024
Auditors
Goldwins were appointed as the auditors of the charitable cornpany during the year and
have expressed their willingness to continue in that capacity.
The Trustees annual report h
een approved by the Trustees on
28 October 2024
Monty Grigg
Chair of Trustees
14

Independent auditors, report
To the members of SOBUS
For the year ended 31 March 2024
Opinion
We have audited the financial statements of SOBUS (the 'Charity') for the year ended 31 March 2024
which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and
notes to the f inancial statements, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Finaiicial Reporting Standard 102.. The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion, the financial statements..
give a true and fair view of the state of the Charity's affairs as at 31 March 2024 and of ils
income and expenditure for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.,
have been prepared in accordance with the requirements oflhe Companies Act 2006.
Basls for opinlon
We conducted our audit in accordance with International Standards on Auditing {UK) {ISAs (UKII 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 Charity 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.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significa nl doubl on the charity's ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are
described in the relevant sections of this report.
other Information
The trustees are responsible for the other information. The other information comprises the
information included in the annual report other than the financial stalernents and our auditor's report
thereon. 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.
In connection with our audit of the financial statements, our responsibility is lo 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 audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the financial
statements or a material misstatement of the other information. If, based on the work we have

Independent auditors, report
To the members of SOBUS
For the year ended 31 March 2024
performed, we conclude that there is a material misstatement ofthis other information, we are required
to report that fact.
We have nothing to report in this regard.
Oplnlons on other matters pres¢rlbed by the Companles Act 2006
In our opinion, based on the work Undertaken in the course of the audit..
the information given in the trustees, report (incorporating the d irectors. report) for the financial
year for which the financial slalements are prepared is consislenl with the f inancial statements.,
and
the trustees, report (incorporating the directors, report) have been prepared in accordance with
applicable legal requirements.
Mattars on whlch we ar6 requlred to report by exceptlon
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 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 lo report to you if, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not
been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns.,
certain disclosures of trustees, remuneration specified by law are not made., or
we have not obtained all the information and explanations necessary for the purposes of our
audit.
Responsik)ilitles of the trustees
As explained more f ully i n the trustees, responsibilities statement, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a IrLie aiid fair view, and
for SLich internal control as they determine is necessary to enable the preparation of financial
statements that are free from material misstalemenl, whether due lo fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity'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 lo liquidate the Charity or to
cease operations, or have no realistic alternative bul to do so.
Our responslbllitles for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due lo 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 Gonducted in accordance with ISAS (UK} will always delect a material misstatement
when it exists. Misslatemenls can arise from fraud or error and are considered material if, individually
or in Ihe 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 delect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including f raud are set out below.
16

Independent audltor8' report
To the members of SOBUS
For the year ended 31 March 2024
I n identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, our procedures included the following..
We enquired of management, which included obtaining and reviewing supporting
docunientation, concerning the charity's policies and procedures relating to the internal
controls established to mitigate risks related lo fraud or non-compliance with laws aiid
regulations.
We inspected the minutes of meetings of those charged with governance.
We reviewed the financial statement disclosures and tested these to supporting
documentation lo assess compliance with applicable laws and regulations.
In addressing the risk of fraud through management override of controls, we tested the
appropriateness of journal entries and other adjustments, assessed whether the judgements
made in making accounting eslimales are indicative of a potential bias and tested significant
transactions that are unusual or those outside the normal course of business.
Because of the inherent lim ilations of ali audit, there is a risk that we will not detect all irregularities,
including Ihose leading to a material misstatement in the financial statements or non-complianGe with
regulation. 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 f urther description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website al.. Iwww,frL.org.uklaiidilorsiL'spoiisibililiesl. This description
forms part of our auditor's report.
This report is made solely to the Charity's menibers, as a body, in accordance with Chap16r 3 of P8rt
16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the
Charity's members those matters we are required to slate lo 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 lo
anyone other than the Charity and the Charity's members as a body, forouraudil work, for this report,
or for the opinions we have formed.
Anthony Epton (Senior Statutory Auditor)
for and on behalf of
Goldwins Limited
Statutory Auditor
Chartered Accountants
75 Maygrove Road
West Hampstead
London NW6 2EG
1 November 2024

Sobus
statement of financial activities (Including income and expenditure account)
For the year ended 31 March 2024
2024
Total
funds
2023
Total
funds
Unrestrl¢ted Restrleted
funds
funds
Note
Income from:
Donations and legacies
216.150
216,150
125,000
Other trading adivilies
Investment income
229,789
1,520
229.789
1,520
251,685
253
Total Income
231,309
216,150
447,459
376,938
Expendlture on.,
Charitable activities
Other trading activities
Total expendlturè
182,445
182,445
232,109
120,750
282,036
232,109
232,109
182,445
414,554
402,786
Net Income I (expenditure)
18001
33,705
32,905
125,8481
Net movement In funds
18001
33,705
32,905
125,8481
Reconclliatlon of funds.,
Total funds brouglil forward
Total f unds carrSèd forward
1.505,233
9,500
1,514,733
1,540,581
1,514,733
1.504,433
43,205
1,547,638
All of the above results are derived from continuing activities.
There were no other reeognised gains or losses other than those 51aled above.
The allached notes form part DI these financial slalemenls.

Sobus
Balance sheet
As at 31 March 2024
2024
2024
2023
2023
Note
Fixed assets,,
Tangible assets
Current assets:
Debtors
Cash at bank and in hand
11
1.525,224
1,525,654
12
86,130
37,712
123.842
25,679
26,707
52,386
Liabilities..
Creditors. amounts falling due within one year
13
{101,428)
163,3071
Net Current assets I Iliabilitiesl
22,414
110,9211
Total net assets
1,547,638
1,514,733
Funds
Reslricled funds
Unreslricled funds..
General funds
Other Funds - Building
Total unrestricted funds
43.205
9,500
{20,7911
1,525,224
120,4211
1,525,654
1,S04,433
1,505,233
Total funds
15
1,547,638
1,514,733
The financial slalémenls have been prepared in accordance with the special provisions for small companies
under Part15 of the Companies Act 2006.
Approved by the trusteès on
and signed on their behalf by..
28/1012024
Monty
Chair
rigg
Trustees
Company registration no. 03471416
The attached notes form part of the financial slatemenls.
19

Sobus
Notes to the financial statements
For the year ended 31 March 2024
1 Accounting policies
Basls of preparation
The financial slalemenls have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
1021- (Charities SORP FRS 102) and the Companies AGI 2006.
The charitable company meets the definition of a public benefit enlily under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the
relevant accounting policy or note.
The charitable conipany is exempted from preparing a cash flow statement due 10 exemption available
to charities with income of less than £500,000.
Going concern
The trustees consider that there are no material uncertainties about the chafltable company's ability lo
continue as a going concern. The Iruslees do not consider that there are any sources of eslimalion
uncertainty al the reporting dale that have a significant risk of Causing a material adjuslmenl lo the
carrying amounts of assets and liabilities within the next reporting period.
Income
Income is recognised when the charity has enlitlemenl lo the flinds, any performan¢e conditions
a113ched lo the income have been mel, it Is probable that the income will be received and that the
amount can be measured reliably.
Donations of gifts, servlces and facilities
Donated professional services and donated facilities are recognised as incorne when the charity has
control over the itein or received the service, any conditions associated with the donation have been
mel, the receipt of economic benefit from the use by the Gharily ol the item is probable and that
economic benefit can be measured reliably.Volunleer lime is not recognised so refer lo the Iruslees,
annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the
value of the gift lo the charity which is the amount the charity would have been willing lo pay to obtain
services or facilities of equivalent economic benefit on the open market., a corresponding amount is
then recognised in expenditure in the period of receipt.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount cali be measured rel￿ablY
by the charity, this is normally upon notification of the interest paid or payable by the bank.
Fund accounting
Unreslricled fLJnds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the Iruslees have decided al their
discretion lo sel aside to use for a specif5c purpose. Reslricled funds are donations which the donor has
specified are lo be solely used for particular areas of the charity's work or for specific projects being
undertaken by the charity.
2Q

Sobus
Notes to the financial statements
For the year ended 31 March 2024
Operating leases
Rental charges are charged on a slraighl line basis over the term of the lease.
Accounting policies Icontinuedl
Expenditure and irrecoverable VAT
Expenditure is recogni5ed once there is a legal or constructive obligation to make a payment lo a third
party, il is probable that selllemenl will be required and the amount of the obligation can be measured
reliably. Expenditure is classified under the following activity headings,
Costs of raising funds comprise of trading costs and the costs incurred by the charitable company
in inducing third parties to make voluntary contributions lo it, as well as the cost of any activities
willi a fundraising purpose.
Expenditure on charitable activities includ&s the costs of delivering services undertaken to further
the purposes of the charity and their associated support costs.
Other expendiliire represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Allocation of support costs
Support costs are those functions that assist the Work of the charity bul do not directly undertake
charitable aclivilies. Support costs include back office costs, finance, personnel, payroll and
governance costs which support the ¢harily and ils and aclivilies. These costs have been allocated
between cost of raising funds and expenditure on charitable aclivilies. The bases on which SLlPPOrt
costs have been allocated are sel out in note 7.
Tangible f ixed assets
Ileins ol eqliipinenl are capilalised where the purchase price exceeds £500. Depreciation is provided al
rates calcLilaled lo write down the cost of each asset lo ils eslimaled residual value over ils expected
U56ful life. The depreciation rates in use are as follow5.,
Land and bLiildings
Fixtures and fillings
25°/o slraighl line
Computer equipment
33.330/0 slraighl line
Buildings are not depreciated as, in the opinion of the Sobus Trustees, the property will appreciate due
lo the London properly market. Although this Irealmenl is contrary lo the Cornpanies Act 2006 which
stales that fixed asse15 should be depreciated this is, in the opinion of the Iruslees, necessary in order
to give a true and fair view of the asset's true value. Sobus will revalue the assets al least every 5 years
subject to affordability.
Debtors
Trade and other debtors are recognised al the selllemenl amount due after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
Cash at bank and in hand
Cash al bank and cash in hand includes cash and short term highly liquid investments with a short
malurily of three months or less from the dale of acquisition or opening of the deposit or similar
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 lo sellle the
obligation can be nieasured or eslimaled reliably,Credilors and provisions are normally recognised at
their selllemenl amoLinl after allowing for any trade discoLlI)Is due.
?1

Sobus
Notes to the financial statem6ntS
For the year ended 31 March 2024
2 Detailed comparatives for tho statement of financial activities
2023
Unreslricled
2023
Reslricled
2023
Total
Income from:
Donations and legacies
15.000
110,000
125,000
Charitable activities
other charitable activities
Investments
Total Income
251,685
253
266,938
251,685
253
376,938
110,000
Expenditure on:
Charitable activities
other charitable activities
120,750
120,750
282,036
282,036
Total expenditure
282,036
120,750
402,786
Net Income l expenditure
115,0981
110,7501
125,848}
Transfers between funds
Net movement In funds
115,0981
(10,750)
125,8481
Total funds brought forward
Total funds carried forward
1,520,331
1,505,233
20,250
9,500
1,540,581
1,514,733
3 Income from donations and legacles
2024
2023
Unreslricled Reslricled
Total
Total
Donations and grants
218,150
216,150
216,150
216,150
125,000
125,000
22

Sobus
Notes to the financial statements
For the year ended 31 March 2024
4 Income from other trading activities
2024
Total
2023
Total
Unrestricted
Restricted
License6S
Room hire and other office services
North End Road rental
178,377
51,412
178,377
51,412
162,670
58,136
30,879
251,685
229.789
229,789
Income from other trading activities includes rental income received from commÈrcial organisalions.
S Income from investments
2024
Total
2023
Total
Unrestricted ReslrKled
8ank interest
1,520
1,520
1,520
1,520
253
253
23

Sobus
Notes to the financial statements
For the
ear ended 31 March 2024
6 Analysis of expenditure
Current year
Charltable Other trading
Activities
a¢tivities
Support
costs
2024
Total
2023
Total
Staff costs
Other staff cost
Project delivery costs
Premises costs
Marketing & Promotion
Office & Admin
Governance
88.643
112,958
32,907
2,216
234,508
2,216
12,860
80,620
5,622
73,728
5,001
243,043
5.355
2,000
76,792
7,052
65,844
2,900
12,860
78.808
192
42,082
1,812
695
31,646
5.001
4,735
106,238
234,040
74,276
414,554
402,786
Support cos15
76,207
11.9311 174.276)
Total expenditure
182,445
232,109
414,S54
402,786
Of the total expenditure, £230,225 was unrestricted {2023', £282,036) and £182,445 was reslricled12023.
£120.750)
Analysis of expenditure
Prior year
Charitablè
Activities
Other trading
activities
Support
costs
2023
Total
2022
Total
Staff costs
Other staff cost
Project delivery costs
Premises costs
Marketing & Promotion
Office & Admin
Governance
61.986
107,545
73.512
5,355
243,043
5,355
2,000
76,792
7,052
65,644
2,900
251.667
8.495
11,000
65,716
8,185
62,021
2,850
2,000
72,851
313
39,877
3.941
2.006
25,767
2,900
4,733
68,719
220,586
113,481
402,788
409,934
Support costs
52,031
61,450
(113,4811
Total expenditure
120,750
282,036
402,786
409,934
24

Sobus
Notes to the financial statements
For the year ended 31 March 2024
Net In¢ome I lexpenditurel for the year
This is staled after charging I IcredilinGI'.
2024
2023
Deprecialion
Auditor's remuneration..
Audit lees
430
2,654
4,800
3.250
8 Analysls of staff ¢osts, tru$tè8 remuneratlon and expenses,
and cost of key management personiiel
Staff costs were as follows,.
2024
2023
Salaries and wages
Social $ecurily costs
Employer's conlrlbullon lo defined Conlrlbulion pension schemes
211,088
13.746
9.674
234,608
215,568
16,259
243,043
One employee received employee benefits more than E60.000 during the year.
The lolal employee benefits Includiiig penslon contributions ol Ilie key management personnel were £64,144 12023..
£82,5591.
The ch8rlly Irusl&es were not paid or received any other benefits from employinenl with the Tiusl in the year12022.' Enill
neither viere they reimbiirsed expenses dLiriiig the yeai 12023.. £nill. No charity IrLislee received payineiil lor
professional or other services supplied lo the charily12023.. £nill.
Staff number8
The av9rage number ol employees during the y$ar was as follows..
2024
No.
2023
No.
Charitable activities
g Taxatlon
The charllable ¢onip8ny is exempl Iroin corporation lax as all ils income is charitable and Is applred for ¢harilabl&
purposes,
25

Sobus
Notes to the financial statements
For the year ended 31 March 2024
10 Tanglble flxed asset5
Freehold
property
Fixtures
and fillin9S
Computer
equipment
Yotal
Cost
Al the start of the year
Additions iii ye8r
Al the end ol the yaar
2,602.000
94,301
55,754
2,752,OSS
2,602.000
94.301
55.754
2,762,06
D•preelatlon and Impalrmenl
Al the start ol the year
Charge lor the yèar
Al Ihe end ol the year
1.077,000
94.301
S5,100
430
55,53D
1,226,401
430
1.226.831
1,077.000
94,301
Net book valuo
At tho ond of tho year
1,525,000
224
1,625,224
At the start ol the year
1,52fJ,QOO
654
1,525.654
Freehold property In¢ludes the properlles a120 Dawes Road and 363 North En¢ Road, ¥thlch were donated to FCPT by
London Borough ol H817irnersmllh and Fulham dliring the period ended 31.03.2012 lor the amount of £1,030,000 ai)d
£395.000 respectively. Further development ¢osls ol the combined aniounl 01 £1,177,000 have been capltslised.
All ol the above ossols are used lor chgritable purpos6S.
11 Debtors
2024
2023
Tr8de debtors
Prepayments
Accriied iiicoine
50,367
34,888
875
88,130
18,581
7,098
25.679
12 Cr¥dltor$.' amounts falllng due wlthln one year
2024
2023
Trade creditors
Taxation and soaal security
Other creditors
Accruals
Deleiied income
34,518
6,894
10.281
19,884
29,851
101,428
31,011
5,160
2,383
19,243
5.510
63.307
Deferred Income
2024
2023
Balance al the begiiining ol the year
Amount deferred in the year
Amount released lo income in the year
Ba1ancfy al the end of the year
5,510
29,8S1
15,5101
29,851
12.970
5.510
112.9701
5,510
26

Sobus
Notes to the financial statements
For the year ended 31 March 2024
13 AnalysSs of net assets bttwggn fund•
Current year
Gene181
unrestrlcted Restrlcted
Total
funds
Tangible fixed assets
1,525,224
120,7911
1.525,224
22,414
43,205
Net assèts at Ihe end ol the year
Analysis ol nel assets betweèii funds
piior year
Gendal
unreslricled
Total
funds
Re$lri¢led
Tangible fixed assets
1.525,654
120,4211
1, Jfos,233
1.525,654
110,9211
1.514,733
9.500
9.500
Net assets at the end ol11)e year
14 Movements In funds
Current year
At the
start ol
the year
Al Ihg
end ol
tho year
Incomg Expendlture
Transfers
Ro$tTlcted fund3:
LBHF 3rd Sector Inv&slm&nl Fiind
Heallh Well 8eing
CLC
City Bridg6 Trust
115,500
50,000
115,500
13.151
4.500
40.294
36,849
5,000
1,356
9.500
50,8SO
Total reslrl¢ted fuiids
9.SOQ
216,160
182,446
43,205
Unre8trl¢ted funds
Other Fund5. Building
General Iiinds
1.525,654
120,4211
430
231.675
1,525,224
120,7911
231,309
Total unrestrlcted funds
Total funds

Sobus
Notes to the financlal statements
For the year ended 31 March 2024
14 Movements In funds Icontlnuèdl
Movemeiils in funds
Prior year
Al the
start of
thè year
At the end
ol the year
In¢ome
Expenditure
Traiisfers
Reslricled funds..
LBHF 3rd Sector Inveslrnent Fuiid
Hamniersmilh Unilerl Charilies
CLC
Wesl London Health Partiiership Limited
Total reslrlcled funds
110,000
110.000
8.750
2,000
8,750
11.500
9,500
20.250
110,000
120,750
9,500
Unre81ri¢led fund$
Other Funds . Buildlno
General funds
1.528,308
17,9771
2,654
279,382
I,S2S,6S4
120,4211
266,938
Total unre51ricted funds
Total funds
Piirpoges ol restrlcted funds
Reslricl&d funds.. To lun capacity building services to local Third Sector orgaiiisalions across the borough. The bonefils
Include building orgaiiisalioiial capacllies, ¢onnè¢lii)g local ¢tsminu*iili¢$. orowing ¢oiHIMunily assets and proinoiiiig
social enleiprise.
16 Lggal sl?tU$ of th& charlty
The ¢h8rity Is a company Ilinlled by gLiaranlee snd has no share ¢apilal. E8¢h meirber is liable lo conlribula 8 surn not
exceeding £1 iii the eveiil ol the cliarily being WOLind up.
16 Rèlat•d party tran¥?ctlon¥
There are no related party Iransaclions lo disc105e lor 202412023.. noiièl.