Company registration number: 01753440 Charity registratlon number: 1077688 Islington People's Rights IA company limited by guarantee) Annual Report and Flnancial Ststement5 forthe Year Ended 31 March 2024 Field Sulllvan Limited 9 Hare & Billet Rozd Blackheath SE3 ORB
Islington People's Rlghts Contents Reference and Administrative Detai15 Trustee5' Report 2to8 Statement of Trustees, Responsibilitie5 Independent Examiner'5 Report Iotoll Statement of Financial Activities 12 Balan Sheet 13to14 Ststement of Cash Flow5 15 Notes to the Financial statements 16to29
Islington People's Rights Reference and Admlnlstrative Details Trustees Omotoyosl Aklnfemiwa Davld Amos Bahar Choudhary Tiong Chua Henrietta Cooke Joanna Given5 David Moore Saiqa Pandor Arthur Ryser Ellbeth Ward secretary Gerard Omasta-milsom Charlty Re8iStration Number 1077688 Company Registratlon Number 01753440 Reglstered OffKe 6-9 Manor Garden5 London N7 6LA Independent Examlner Field Sulllvan Limited 9 Hare & Blllet Road Blackheath SE3 ORB Bankets The Cooperative Bank PO Box 101 l Balloon Street Manchester M60 4EP CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page I
Islington People's Rights Trustees. Report The trustees, who are dirertors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Trustee5 and officers The trustees and offlters servlng during the year and since the year end were as follows.. Trustees.. Omotoyosi Aklnfemlwa Davld Amos Baharchoudhary Tiong Chua Henrietta Cooke Joanna Givens David Moore Mohammed Pandor (resigned 14 November 20231 Salqa Pandor Arthur Ryser Elizabeth Ward Secretary.. Gerard Omasta-milsom Page 2
Islington People's Rights Trustees, Report Objertlves and Actlvltles The summary of our purpose as set out in our charitable objectives are.. IA) TO PROMOTE THE RELIEF OF PERSONS RESIDENT. WORKING OR STUDYING IN OR AROUND THE LONDOhl BOROUGH OF ISLINGTON BY REASON OF POVERTY. IBI TO ADVANCE THE EDUCATION OF PERSONS RESIDENT, WORKING OR STUDYING IN OR AROUND THE LONDON BOROUGH OFISLINGTON IN THE FIELD OF WELFARE RIGHTS AND DEBT These are met through a Series of planned programme5 and projects described elsewhere. 151ington People's Righ charitable objective is the relief of poverty. We address this objective mainly through attivitie5 delivering advice on welfare rights and debt in the London Borough of1s1ington and neighbouring area5. Our servlces are provided free of charge. and our beneficiaries are prlmarily vulnerable members of Society. We seNe a diverse range of people. over 71YA have a disability and almost half from Black and Minority Ethnic backgrounds. Nearly all our beneficiaries are in recelpt of welfare benefit5 and the rest are on low incomes. We are commrtted to working in partnership where we can make the most effective use of scarce resources and to share expertise. We engage In Social policy work and maintsSn good links with Statutory bodies and the local voluntary sector, key at thls time. We are proud to be part of Islington Advice Alllance along with Islington Law Centre and Citizens Advice Islington, working together to ensure comprehensive and joined-up provision of our services in the borough and to campaign based on our collective experience of our clien& needs. Our work falls into several categories.. delivering specialist outreach advice sessions to particularly vulnerable groups: providing dlredly accessible advice,. and providing specialist tribunal representatlon in welfare benefits. During the course of the year we maintained our programme of outreach advice sessions. focussed on particularly vulnerable groups in society. These sessions continued to ensure access to specialist welfare benefits and debt advice, enabling clients to maximise their incomes and tackle personal debt issues, often now delivered through hybrid means. We focu5sed on clients with mental health issues. delivering 4 weekly advice session5 at Community Mental Health venues. These sessions were largely funded through our core grant from151ington Council. IPR also received funding from the Camden and Islington NHS Foundation Trust to deliver services to clients to 2 other servi5 for those with mental health issues,. the Core Mental Health Team. and the Discharge Facilitation Team. a5515ting those being discharged from the local mental health ward5. Page 3
Islington People's Rights Trustees. Report The IPR Assist project, funded by City Bridge Trust, supported vulnerable residents through referrals from the local organisation. Help on Your Doorstep IHOYDI and certain Black Asian Minority Ethnic and Refugee IBAMER) organisations based in Islington. notably Islington Somali Community. These appointments are important in eiisurin¥ Ilidl Ldll help vulnerable beneflclarle5 and those who mlght strugglp to flnd 35Sistsnte froiri uiher sources. It aims to improve the health and wellbeinR of IslinKton residents, especially the most vulnerable and isolated. We work with these residents to find solutions to the issues which make their lives difficult. notably welfare benefits and debt related. and enable them to improve their life chances. Islington People's Right5 15 the leading agency within Islington providing a specialist tribunal representation service in welfare benefrts. This sUPPOrt is vital to ensure claimants who a wrongly refused benefits can exercise their right to take their case to an independent tribunal. Expert representation 15 provided free of charge and is primarily related to Disability Living Allowarbce IDLAI. now Personal Irbdependence Payment IPIPI and Employment Support Allowance IESAI. now linked to Universal Credit {UCI. Our outcomes at these tribuna15 show a very high succe55 rate at over 90%. Islington People's Rights continued to provide 5peciali5t advice from our ba5e5 at the Manor Gardens CEntre. in Holloway in the north of the borough of Islington, and at the St Luke's Community Centre, ECI, in the 50LSth. This wa5 dellvered through face-to-face appointments and casework, or on occasions through virtual means. We a150 run a telephone advice line, accesslble 3 days per week, to anyone wlth a welfare beneflts or debt Issue. A5 well as providing advice directly, this Service enables us to signpost callers to other agerbcies and organisations. including our partners in the Islington Advice Alliance. These setvices were funded through the Islington Council Grant, confirmed until March 2024, and now confirmed for a further 4 years. The IPR Justice project started in April 2021 initially funded for 3 years by Trust for London. provides additional capacity to represent clients at welfare benefits tribunals, with a focus on those wsth disabilities, notably mental health related. The project aims to further build our capaclty to undertake legal action to maximise incomes, with continuation funding now until March 2026. It wlll also gather evidence of the experiences of people accessing the welfare system. to influence government policy. We a150 received funding from several charitable trusts. to enable us to deliver a Disability Focus project. providing additional sUPPOrt to residents with disabilities. We have been able to increase our capacity to provide debt and money advice, as a result of further funding from the Thames Water Trust Fund, focussing on water debts. Welfare grants from Cloudesley ensure that many ancillary costs associated with delivering our services are covered, such as interpreting. and obtaining legal and medical documents. It also covers the cost of Debt Relief Orders (DR051 and bankruptcy proceedings to assist those with significant debt5. These areas of work ensure that our services are directly accessible to clients, through self-referral or other mechanisms, without the need for initial contact with statutory agencie5. We continually undertake addltlonal work to promote our advice services and to increase residents, awareness of the free 5UPPQrt which 15 available. Page 4
Islington People's Rights Trustees. Report Publlc Benefit Islington People's Rights IIPRI. as a charity with charitable objectives undertakes all its activities with continual rcgard to the Charity Comrnissictn's public benefit guidance. IPR'S trustees individually and when meeting collectively in a dècision making contect, always make decisions that demonstrate.. they are aware of the guidance they have taken it into account when making a decision to which the guidance is relevant if they have decided to depart from the guidance, they have good reasons for doing so In the period under review there have been no decision5 where the Board has departed from the guidance. Volunteers IPR welcomes volunteers and involve5 them in supporting the advice work of the organisation. It relies on volunteer input to ensure the AGM and other events organised by the organisation can take place. Achle¥ernent5 and Perforniance 202312024 has been a period of continuing consolidation for 151ington People's Rights. We have a level of secure funding from Islington Council which is tonfirmed now to March 2028 and have continued to expand our funding base through other sources. We have a contract from the Camden and Islington NHS Foundation Trust that runs until March 2026, with likely further 2 year extension. The trustees have been working closely with the Chief Executive and staff to develop a rolling business plan to better focus on our objectives and ensure we have appropriate and adequate resources to achieve them. In terms of achievements, we provide a high-quality targeted specialist advice servlce in welfare benefits and debt, to many of the most vulnerable resldents of the borough. It is dellvered across a range of venues, with good outcomes and a high level of client satisfattion. We circulate a client feedback questionnaire to all our clients when we complete their case. Analysi5 showed that Islington People's Right5 continues to have a general satisfaction rate of over 95%. with 97% 0* respondents feeling that our staff were well informed and helpful. Our aims for the forthcoming year are to maintain and improve the quality and quantity of our services. The demand for our Services continues to remain as high as ever. as many of our beneficiaries fa difficult economic circumstances. exacerbated by the impact of changes to the benefit5 5VStem. Universal Credit ha5 been fully rolled out for new claimants in Islington for some years. However. those on disability benefit5, or other existing benefits, have been tran5Ferred to UC. adding to the challenges for those in receipt of welfare benefits. We look fOard to workirbg with our clients in the year ahead to help them meet those challenges. Page 5
Islington People's Rights Trustees. Report Flnanclal Revlew In 2023124 IPR income was £575,997 12022123 £676.1991. and costs were £662,187 12022123 £624,180) generating a deficit for the year of £86,19012022123 surplus £52,019). The deficit was generated due to some income being received in 2022123 for projects delivered in 2023124 and a reduction in income. Reserves Policv Islington People's Rights reserves policy was last changed on 6th December 2016 arbd is to maintain the Reserves Target at a limit to cover 3 months budget expenditure. At 3tst March 2024. free reserve5 were £171,659 which represented approximately 3.1 months of expenditure. In addition. Islington People's Rights has designated funds of £10.176. This compares to the 31st March 2023. when free reserves were £182,176 which represented approximately 3.5 months of expenditure. Due to the deficit for 2023124, our re5erve5 Sltuation has deteriorated. The table below shows the level of reserves at the 31st March 2024: Unrestricted Funds.. Deslgnated - IT Upgrade General 10.176 171,659 Total ReseNes 181,835 Going Concern Despite the deficit in 2023124, our reserves remain within our reserves poliry at just over 3 months of expenditure. This is in part due to the build-up of reserves in 2020121 to 2022123 where we generated a revenue Surplus each year. Looking forward we have committed income for the next 2-3 year5, including core funding from 151ington Council to 2028 and a number of other grants that span more than one year. We are however anticipating a further deficit in 2024125 and have started a re5trurturing process to significantly reduce operating costs including reducing office Space arbd reducing senior management Costs. This will enable us to utilise our resources more efFiciently while still delivering our Service to meet client need5 and in accordance with our grant terms. At the same time, we continue to submit applications to funders relevant to IPR'S charitable objectives. While the funding environment 15 challenging, IPR remains a going concern and has sufficient resources to build back to earlier levels of attivity. Page 6
Islington People's Rights Trustees. Report 'Fundlng IPR'S maln sources of funding are those received for particular projects or streams of work. There is an element of non projert income but that is relatively siiiall. In 2023124 the main funders for IPR were.. 151ington Core Grant 230,000 City Bridge Trust 57.570 Acce55 for Work IDWPI Thames Water Trust Fund 43.296 29,776 Cloude51ey Charlty Trust for London 21,104 50.000 Camden and Islington NHS Foundatlon Trust: 11 Mental Health Project 21 Discharge Facllltatlon Service 89.251 40,000 Rlsks IPR maintalns a rlsk register which is reviewed at regular intervals by the Trustees. Yhe main risks are: • Not achieving identified funding targets as set out in annual budgets Significarht reduction in or cessation of funding from London Borough of151ington Reserves falling below level set by Trustees Sudden Ios5 of CEO. e.g. due to accident or illnes5 Loss of other key staff Insufficient caseworker staff to resource new funding Failure to recruit suitably experienced staff Difficulty in recruiting and maintaining active board members who are reflective of the population served Page 7
Islington People's Rights Trustees. Report Structure, Governanre and Management Isllngton People'5 Right5 15 both a registered charity no. 1077688, and Company registered in England no. 01753440. The type of governing document IS the Memorandum of Articles. Currently Trustees are appointed for a term of l year at the November AGM. Current Trustees are eligible to stand for re-election and there is no time limit irb place for length of tenure. Trustees are recruited upon invitation and also expression of interest. Currently there are 4 Trustees officers- Chair, 2 Vice-chairs and a Treasurer. IPR is reviewing its constitution with a view in the future to converting to a foundation based Charitsble Incorporated Organi5ation. IPR new Trustees recelve brlefing by the Chair and the CEO. IPR introduced in 2022 a more formalised method of induction including the production of a Trustees reference manual with considerable material about IPR and the role of a Trustee. Page 8
Isllngton People's Rights Statement of Trustees, Responsibilities The trustees Iwho are also the directors of 1s1ington People's Rights for the purposes of company lawl are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ctf Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2CN)6 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unle55 they are satlsfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including rts income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: selert suitable accounting policies and apply them con515tently* ob5erye the methods and principles in the Charities SORP,. make judgements and estimate5 that are reasonable and prudent- stste whether applicable accounting standards. comprising FR5 102 have been followed, subject to any material departure5 disclosed and explained in the financial statements- and prepare the financial statements on the going concern ba515 unless It is inappropriate to presume that the charitable Eompany will continue in busine55. The trustees are responsible for keeping proper accourbting records that can disclose wtth reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financlal statements may differ from legislatlon in other jurisdictions. Small companies provision ststement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Approved by the trustees of the charity on 10 October 2024 and Signed on its behalf by- Henrietta Cooke Trustee Page 9
Islington People's Rlghts Independent Examiner's Report to the trustees of Islington People's Rights ('the Company,) I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which are set out on pages 12 to 29. This report is made solely to the charity's trustees, as a body, in accordante with section 145 of the Charities Att 2011. My work has been undertaken so that I might State to the charity's trustees those matters l am required to state to them in thls report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work. for this report, or for the opinions I have formed. Responsibilities and basis of report As the charit5 trurtees of Islingtorb People's Rights you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2(M)61'the 2006 Act'l. Having sat15fied myself that the accounts of Islington People'5 Rights are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission urbder section 14515llbl of the 2011 Act. An independent examlnatlon does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audlt goes beyond the limited assurance that arb independent examination tan provide. Consequently l express no opinlon as to whether the financial statements present a 'true and fairf view and my report is limited to those specific matters set out in the independent examinerfs statement. Independent examinerf5 Statement Since Islington People's Rights's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am quallfled to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attentlon in connection wlth the examination giving me cause to believe- l. accounting records were not kept in respect of Islington People's Rights as required by section 386 of the 2(X)6 Act; or 2. the account5 do not accord with those records; or 3. the accounts do not comply with the accountlng requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Page 10
Islington People's Rights Independent Examinerfs Report to the trustees of Islington People's Rights ('the Company,) I have no concerns and have come across no other matter5 in connertion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. rim Sullivan FCA Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB Date-. Page 11
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Isllngton People's Rlghts (Registratlon number: 01753440} Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tanglble assets li 14,435 9,806 Current assets Debtors 12 61,659 158,386 27,455 291,813 Cash at bank arbd in hand 13 220,045 319,268 Creditors: Amounts falling due within one year 14 152,6451 161,0491 Net current assets 167,400 258.219 Net assets 181,835 268,025 Funds of the charity: Restrlcted 39,126 Unrestricted income funds Designated Funds General Funds 10,176 171,659 46.723 182,176 Total unrestricted funds 181.835 228,899 Total funds 16 181,835 268,025 For the financial year ending 31 March 2024 the charity was entitled to exemption from audlt under section 477 of the Companies Att 2CK16 relating to small companie5. Director5, responsibilities: The members have not requlred the charity to obtain an audit of its accounts for the year in question in accordance with sectlon 476,. and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting record5 and the preparation of accounts. These financial ststements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2CNJ6. The notes on pages 16 to 29 form an integral part of these financial Statements. Page 13
Islington People's Rights (Registration number: 01753440) Balance Sheet as at 31 March 2024 The financlal statements on pages 12 to 29 were approved by the trustees, and authorised for issue on 10 October 2024 and signed on their behalf by: nrietta Cooke Trustèe The notes on pages 16 to 29 form an integral part of these financial statements. Page 14
Islington People's Rights Ststement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash Ilows from operating activities Net cash lexpenditurel/income 186.1901 52.019 Adjurtments to cash flows from non-cash items Depreciation Investment income li 4.694 11.7451 4,919 15931 56.345 183,2411 Working capital adjustments Ilncreaselldecrea5e in debtors Increase in creditors 12 134,2041 3,151 111,5551 22,528 7,429 122,7401 14 Decrease in deferred income Net cash flows from operatirbg activities 1125,8491 63,562 Cash Ilows from investing actlvltles Interest receivable and simllar income Purchase of tangible fixed assets 1,745 19,3231 593 14,6021 li Net cash flows from investing activities 17,5781 14,0091 Net Idecreèselfincrease in cash and cash equivalents 1133,4271 59,553 Cash and cash equivalents at l April 291,813 232,260 Cash and cash equivalents at 31 March 158,386 291,813 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 16 to 29 form an integral part of these financial statements. Page 15
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The charity is limited by guarantee, Incorporated in , and consequently does not have share capital. Each of the trustees is liable to contrlbute an amount not exceedlng £1 towards the assets of the charity in the event of liquidation. The address of its registered office is- 6-9 Manor Gardens London N7 6LA These financial statements were authorised for i55ue by the trustees on 10 Ortober 2024. 2 Accountlng pollcles Summary of slgnifficant accounting policies and key accountlng estlmates The principal accountiri8 policies applied in the preparation of these financial ststements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charlties preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191 (Charities SORP IFRS 1021 Second edltlon October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Art 2006 and Charities Act 2011. Basls of preparation Islington People's Rights meets the definltlon of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Golng concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern rbor any significant 3reas of uncertainty that affect the carrying value of assets held by the charity. Page 16
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 Judgements and key sources of estlmation uncertalnty In the application of the charitys accounting policies. the directos are required to make judgements. estimates and assumption5 about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Artual result5 may differ from these estimates. The estimates ènd underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate 15 revised where revi5ion5 affects only that period. or in the period of the revision and future periods where the revision5 affects both current and future period5. Income and endowments All income 15 recogni5ed once the charity has entitlement to the income, it is probable that the incorne will be received and the amount of the irbcome receivable can bE measured reliablv. Donotion5 ondlegories Donation5 are recogn15ed when the charlty ha5 been notified in wrltlng of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recDgni5ed until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfllled in the reporting period. Gmnts recelvoble Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income Is recognlsed as a liability and Included on the balance sheet as deferred income to be released. Defvrred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred wherb- - The donor specifies that the grant or donation must only be used in future accounting periods,- or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Investment income Dividend5 are recognised once the dividend has been declared and notification has been received of the dividend due. Page 17
Islington People's Rlghts Notes to the Financial Statements for the Year Ended 31 March 2024 Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the a55eVs use. Other support costs are allocated based on the spread of staff costs. Rai5inqfund5 These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activltles that raise funds. Charitable octiViTtles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitie5 and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. GrnntprowsiToll5 Provlslons for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the èmount of grant payable. Support wsts Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property Costs by floor areas, or per capita. staff costs by the time spent and other costs by their usage. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Attordinglyi the charity is potentially exempt from taxation in respect of income or capltal galns received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £750.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losse5. Depreclation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Page 18
Islington People's Rights Notes to the Financial Ststements forthe Year Ended 31 March 2024 Asset cla55 Plant and machinery Motor vehlcles Depreclatlon method and rate 25% straight line basis 25% straight line basis Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impalmlent. A provision for the impalrment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due accordlng to the original terms of the Ceivable$. Cash and cash equivalents Cash and cash equivalents comprlse cash on hand and call deposits, and other short-term hlghly liquid investments that are readily convertlble to a known amount of cash and arc subject to an In51gnificant risk of change in value. Fund strurture Unrestricted income funds are general funds that are available for use at the trustees discretion in furtheran of the objectives of the charitv. Designated funds are unrestricted funds set aside for Specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is rertricted to that area or purpose. Page 19
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 a Income from donations and legades Unrestrlcted Total 2024 Total 2023 General Restrlrted Donations and legacie5- Three Oaks Trust 5.(KJO 2,201 5.000 2.201 Donations from individuals 281 Grants. including capital grants- LB151ington (Free legal advice projertl Out of debt advice Cloudesley development fund project rust for London Cloudeslev 151ington crisis grant Kidsupport Islington Direct London Catalyst / Hospital Saturday Fund 230.000 230,0 1.0 230,000 23.487 30,CKKI 1,000 50,000 21,104 4,0 50,OCWJ 21,104 4,000 11,837 5,000 3,000 99,499 7,639 2,000 10,000 4.001 58,293 Advice UK Awards for All Other I,Crt)O 3,230 1,000 57,570 City Bridge 54,340 241,431 130.444 371,875 525,037 Page 20
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from charitable artlvltles Unrestricted Total 2024 Total 2023 General Restrlrted Access to work 43,296 43,296 42,109 Camden and Islington NHS Foundatlon Trust- Mental Health Project Camden and Islington NHS Foundation Trust- Discharge Facilltation Service Other Thames Water Trust Fund 89,251 89,251 43,506 40,(KIO 40,000 30.WO 948 33,392 29,776 29,776 69,776 132,547 202,323 149,955 5 Income from other trading artivltles Unrestrkted funds General Total funds T¢>tal 2023 Other 54 54 614 54 54 614 6 Invertment income Unrestricted funds General Total 2024 Totsl 2023 Interest receivable and similar income; Interest receivable on bank deposits 1,745 1,745 593 Page 21
lslington People's Rights Notes to the Flnanclal Statements for the Year Ended 31 March 2024 7 Expendfture on ralslng funds al Costs of generating donation5 and legacie5 Total 2024 Totsl 2023 Fundraising 9,248 8.222 8 Expenditure on charitable artivitie5 Total 2024 Total 2023 Note Staff costs io 485,617 3.175 29,190 545 419,510 953 Health insurance Agenry and temporary staff Training and conferences Staff welfare 23,636 3.440 263 722 Travelling Printin& postage and stationery Sundries Isllngton Direct Bank charges Volunteer expenses Grant funding of activities Allocated support tosts 1,832 10,592 232 532 9.019 1,232 43.806 55 23,348 97,631 17.751 95,508 652,939 615,958 Page 22
Isllngton People's Rlghts Notes to the Flnancial Statements for the Year Ended 31 March 2024 9 Analysis of governance and support Costs Support costs Totsl 2024 Total 2023 Rent 39.021 1.463 9.729 30,246 1,037 4,153 3,598 716 35,210 1.494 8.474 35.809 1,227 2.119 3,266 759 Ir)surancÈ Telephone and fax Computer expenditure Memberships and subscriptions AGM costs Independent examination Payroll Legal. professional and consultancy Bad debts written off 2,855 119 2.231 Depreclation 4.694 4,919 97,631 95,508 10 Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff costs during the year were". Wages and salaries Social security costs Pension costs 425,554 33,496 26,567 368.884 28.861 21,765 485.617 419,510 Page 23
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 The monthly aver3ge number of persons {including senior marsagement / leadership teaml employed by the charity during the year expressed as full time equivalents was as follows: 2024 No 2023 No Charitable artivities- Staff Governance - Staff The total employee benefit5 of the key management personnel of the charity were É86,47812023- £78,418). 11 Tangible red a55et5 Furniture and equipment Total Cost At l April 2023 Addltlon5 46,649 9,323 122,7401 46,649 9,323 122,7401 Disposa15 At 31 March 2024 33,232 33,232 Depreciation At l April 2023 Charge for the year Eliminated on dlsposals 36,843 4,694 122,7401 36,843 4,694 122,7401 At 31 March 2024 18,797 18,797 Net book value At 31 March 2024 14,435 14,435 At 31 March 2023 9,806 9,806 Page 24
Islington People's Rlghts Notes to the Financial Statements forthe Year Ended 31 March 2024 IZ Debtors 2024 Z023 Trade debtors 31,794 2.224 20,957 6,684 11,781 3,670 5,321 6,683 Prepayments Accrued income Other debtors 61,659 27,455 13 Cash and cash equivalents Z024 2023 Cash at bank 158,386 291,813 14 Creditor5: amounts falllng due within one year 2024 2023 Other taxation and social securitv other creditors Accruals 12,997 7,581 14,317 17.750 10,554 6,561 14,629 29,305 Deferred income 52,645 61,049 15 Taxation The charlty is a registered charity and Is therefore exempt from taxatlon. Page 25
Islington People's Rights Notes to the Flnanclal Ststements for the Year Ended 31 March 2024 16 Funds Balance at 31 March 2024 Balance at I Aprll 2023 Incoming resources Resources expended Transfers Unrestrlcted General General Funds 182,176 313,006 1360,0701 36,547 171,659 De5ignoted IT Upgrade Manor Gardens Joint Prolect Fundraising IPR Carers Project Dridging Development Fund Social Pollcy Project 10,176 7,500 1,661 5,000 12,386 I0,cl0 10.176 17,5001 11.6611 15,0001 112.3861 Iio.ocM)I 46,723 136,5471 10,176 Totsl unrestrfrted 228,899 313,006 1360.0701 181,835 Restrlcted A55 to Work Cloudesley London Catalyst l Hospltal Saturday Fund Kidsupport The City Bridge Trust Trust for London Mental Health Project Out of debt advice 43,296 21,104 143,2961 121,1041 7,639 3,000 17,6391 13,0001 154,3401 150,0001 189,2511 119,4871 14,CMJOI Iio,(K)01 54,340 50.000 89,251 1,000 4,000 18,487 Islington crisis grant Awards for All 10,000 39,126 262,991 1302,1171 Total fund5 268,025 575,997 1662,1871 181,835 Page 26
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 31 March 2023 Balance at I April 2022 Incoming resources Resour$ expended Transfers Unrestricted Generol General Funds 176.783 305,102 1292.2091 17,5001 182,176 Designated IT Upgrade Manor Gardens Joint Projett Fundraising IPR Carer5 Project Bridging Development Fund Social Policy Project 10,176 10,176 7,500 1.661 5.000 12.386 10,0 7,500 1,661 5.000 12,386 iO,LNJO 39,223 7,5C¥J 46.723 Total unrestrlcted 216,006 305,102 1292,2091 228,899 Restrirted Access to Work 42,109 11,837 142,1091 111,8371 Cloudeslev London Catalyst l Hospital Saturday Fund Kidsupport The City Bridge Trust Islington Direct Trust for London 7.639 3,OLKJ 53,020 99.499 40.000 43.506 23.487 7,639 3,000 153.0201 199,4991 140,0001 143,5061 15,OCKJI Mental Health Projert Out of debt advice 18,487 Cloudesley development fund project Islington crisis grant Advice UK 30.000 5,(KJO 2.000 10,000 130.(KJOI 15.0001 12.0001 Awards for All 10,000 371,097 1331,9711 39,126 Total funds 216,006 676,199 1624,1801 268,025 Page 27
Islington People's Rights Notes to the Financial Statements forthe Year Ended 31 March 2024 Designated funds: IT Upgrade - our ICT systems are in constant need of upgrading, and in particular our CMS system AIMS, this will need replacement shortly and the fund is needed to cover the costs. when we do upgrade this and other systems. Restricted funds: Access to Work - a government supported scheme to help employers Ilke IPR employ people who are disabled. We have two staff who qualify for Access to Work support. which is delivered by a number of sUPPOrt staff. Cloudesley- to distribute grants to individuals during the year who meet the Health and Welfare Grant Programme Criteria. The Hospltal Saturday Fund / London Catalyst - IPR to provide advice to people with learning disabilities and training to Centre 404 staff around debt and welfare rights, run welfare rights sessions, follow up specialist casework. and to evaluate the partnership to further develop the project. KidSupport- towards the Ipft Kidsupport Project. The City Bridge Trurt for a full tlmc SpcciJli=t CaJcworker to provide Jpcciali•t wclfare and dcbt advice through the IPR Assist project and associated project costs. Trust for London - Trust for London are funding the IPR Justice project which aims to provide additional capacity for appeals and tribunal representstion. plus linked social policy work. Mental Health Project - One year pilot initial funding towards a welfare rights adviser, to work within mental health context, in the new "Core Mental Health Team", linked to new core mental health initiative in Islington Cerbtral Primary Care Network IPCNI. Out of debt advice appllcations. funds received from Advice UK towards the costs of adminlstering Debt Rellef Order Islington Crisis funds to help relieve flnancial dlstre5s for Islington residents impacted by the cost-of-living crisis. Awards for All - funds from The National Lottery Community Fund for'out of Debt, project. 17 Related party transartlons There were no related party transactlon5 in the year. Page 28
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2024 18 Analysls of net assets between funds Curront yoar T¢>tal funds at 31 March 20Z4 Unrestricted funds General Designated Tangible fixed assets Current assets 14.435 209,869 152,6451 14.435 220.045 152,6451 10,176 Current liabilities Total net assets 171,659 10,176 181,835 Prior year Totsl funds at 31 March 2023 Unrestricted fund5 General Deslgnated Restrirted fund5 Tangible fixed assets Current assets 9,806 233,419 161,0491 9,806 319.268 161.0491 46,723 39,126 Current liabilities Total net assets 182,176 46,723 39,126 268,025 Page 29