Company registration number: 01753440 Charity registration number: 1077688 Islington People's Rights (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025 Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB
Islington People's Rights Contents Reference and Administrative Details Trustees' Report Statement of Trustees' Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements 1 2 to 8 9 10 to 11 12 13 14 15 to 26
Trustees Secretary Charity Registration Number Company Registration Number Registered Office Independent Examiner Bankers Islington People's Rights Reference and Administrative Details Omotoyosi Akinfemiwa David Amos Bahar Choudhary Tiong Chua Henrietta Cooke Joanna Givens David Moore Saiqa Pandor Gerard Omasta-Milsom 1077688 01753440 6-9 Manor Gardens London N7 6LA Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB The Cooperative Bank PO Box 101 1 Balloon Street Manchester M60 4EP CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page 1
Islington People's Rights Trustees' Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2025. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees: Omotoyosi Akinfemiwa David Amos Bahar Choudhary Trong Chua Henrietta Cooke Joanna Givens David Moore Saiqa Pandor Arthur Ryser (deceased 4 September 2025) Elizabeth Ward (resigned 26 November 2024) Secretary: Gerard Omasta-Milsom Page 2
Islington People's Rights Trustees' Report Objectives and Activities The summary of our purpose as set out in our charitable objectives are: (A) TO PROMOTE THE RELIEF OF PERSONS RESIDENT, WORKING OR STUDYING IN OR AROUND THE LONDON BOROUGH OF ISLINGTON BY REASON OF POVERTY. (B) TO ADVANCE THE EDUCATION OF PERSONS RESIDENT, WORKING OR STUDYING IN OR AROUND THE LONDON BOROUGH OF ISLINGTON IN THE FIELD OF WELFARE RIGHTS AND DEBT. These are met through a series of planned programmes and projects described elsewhere. Islington People's Rights' charitable objective is the relief of poverty. We address this objective mainly through activities delivering advice on welfare rights and debt in the London Borough of Islington and neighbouring areas. Our services are provided free of charge, and our beneficiaries are primarily vulnerable members of society. We serve a diverse range of people, over 70% have a disability and almost half from Black and Minority Ethnic backgrounds. Nearly all our beneficiaries are in receipt of welfare benefits and the rest are on low incomes. We are committed 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 maintain good links with statutory bodies and the local voluntary sector, key at this time. are proud to be part of Islington Advice Alliance 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 clients' needs. We are also a key part of the Islington Strategic Advice Partnership (ISAP) with the key advice agencies in the borough. Our work falls into several categories: delivering specialist outreach advice sessions to particularly vulnerable groups; providing directly accessible advice; and providing specialist tribunal representation 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 focussed on clients with mental health issues, delivering 4 weekly advice sessions at Community Mental Health venues. These sessions were largely funded through our core grant from Islington Council. Islington People's Rights (IPR) also received funding from the Camden and Islington NHS Foundation Trust (from 1st April 2025 merged into the North London NHS Foundation Trust) to deliver services to clients for those with mental health issues, linked to the Islington Core Mental Health Team. Islington People's Rights is the leading agency within Islington providing a specialist tribunal representation service in welfare benefits. This support is vital to ensure claimants who are wrongly refused benefits can exercise their right to take their case to an independent tribunal. Expert representation is provided free of charge and is primarily related to Disability Living Allowance (DLA), now Personal Independence Payment (PIP) and Employment Support Allowance (ESA), now linked to Universal Credit (UC). Our outcomes at these tribunals show a very high success rate at over 90%. Islington People's Rights continued to provide specialist advice from our bases at the Manor Gardens Centre, in Holloway in the north of the borough of Islington, and at the St Luke's Community Centre, EC1, in the south. These are delivered mainly through face-to-face appointments and casework, or on occasions through virtual means. Page 3
Islington People's Rights Trustees' Report We also run a telephone advice line, accessible 3 days per week, to anyone with a welfare benefits or debt issue. As well as providing advice directly, this service enables us to signpost callers to other agencies and organisations, including our partners in the Islington Advice Alliance. These services were funded through the Islington Council Core Grant, now confirmed until March 2028. 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 with disabilities, notably mental health related. The project aims to further build our capacity to undertake legal action to maximise incomes, with continuation funding now until March 2026. It also gathers evidence of the experiences of people accessing the welfare system, to influence government policy. 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. We were notified on 11th April 2025 that the Thames Water Trust Fund would be closing down. As part of their closing down, they distributed their residual reserves and Islington People's Rights received a final grant of £20,000 to extend their service to the end of December 2025. 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 (DROs) and bankruptcy proceedings to assist those with significant debts. 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 agencies. In 2024/25 we started a new project funded by Cloudesley for 3 years from March 2024. The IPR KidsSupport project, is a dedicated service for Islington families, with children with disabilities or long-term health conditions. Many such families have financial difficulties, and do not access their full entitlement of benefits. Disability Living Allowance (DLA) remains for children but is a complicated application process. We continually undertake additional work to promote our advice services and to increase residents' awareness of the free support which is available. Public Benefit The Trustees reviewed the charities objectives in light of the guidance issued by the Charity Commission on public benefit and also as part of the Trustees review procedures a Trustees Induction Pack has been drawn up, with background information on the role of Trustees and the operation of IPR. IPR does not make grants to other organisations. Volunteers IPR welcomes volunteers and involves 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. Page 4
Islington People's Rights Trustees' Report Achievements and Performance 2024/2025 has been a period of retrenchment, due to a permanent reduction in funding due to the cessation of some project funding. Staffing reductions and other cost reduction programmes have been embarked on tr address the need to reduce our cost base to a sustainable level In terms of long-term funding, our core grant from Islington Council which is confirmed to March 2028. Additionally, our contract with the Camden and Islington NHS Foundation Trust (now North London NHS Foundation Trust) runs until March 2026, with likely further 2 year extension. Over the last 2 years we have been making funding applications, but without any major success. This reflects the experience of the wider charity sector where sources of funding have reduced with the impact that more charities are chasing lesser money with generally lower chances of success. 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 continue to provide high-quality targeted specialist advice service in welfare benefits and debt, to many of the most vulnerable residents of the borough. It is delivered across a range of venues, with good outcomes and a high level of client satisfaction. We circulate a client feedback questionnaire to all our clients when we complete their case. Analysis showed that Islington People's Rights continues to have a general satisfaction rate of over 95%, with 97% of 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 face difficult economic circumstances, exacerbated by the impact of changes to the benefits system. Universal Credit has been fully rolled out for new claimants in Islington for some years. However, those on disability benefits, or other existing benefits, have been transferred to Universal Credit (UC), adding to the challenges for those in receipt of welfare benefits. We look forward to working with our clients in the year ahead to help them meet Page 5
Islington People's Rights Trustees' Report Financial Review reducing their hours. Reserves Policy Islington People's Rights reserves policy was last changed on 6th December 2016, and is to maintain the Reserves Target at a limit to cover 3 months budget expenditure. As at 31st March 2025, free reserves were £163,649 which represented approximately 3.8 months of expenditure. Islington People's Rights has closed all its designated funds. This compares to the 31st March 2024, when free reserves (including designated) were £181,835 which represented approximately 4.2 months of expenditure. The deficit for 2024/25 of £1,523 was not considered material by the Board, and IPR's reserves still remain above the reserves policy requirements. Due to the deficit for 2024/25, our reserves situation has deteriorated. The table below shows the level of reserves at the 31st March 2025: Unrestricted Funds: General Total Reserves Going Concern 163,649 163,649 IPR remains a going concern, in 2020/21 to 2022/23 we generated revenue surplus' which enabled IPR to reinstate our free reserves in line with the reserves strategy. Our main funder (London Borough of Islington) has a grant commitment to fund us at the current level until 31st March 2028. Despite the 2023/24 deficit and small deficit for 2024/25 we remain a going concern. On our currently reduced cost base our reserves are approximately 3.8 months of expenditure. Our 2025/26 budget is for a further small deficit, however to the date this was prepared (August 2025) the forecast deficit has reduced by half and we are hopeful of getting new project funding during 2025/26. We have recently in August 2025 been awarded a grant of £50,000 from the Debt Advice Modernisation Fund which should enable IPR to achieve break-even or a surplus in 2025/26. We continue to get support from a number of other funders and an ongoing programme of fundraising. Page 6
Islington People's Rights Trustees' Report Funding IPR's main sources of funding are those received for particular projects or streams of work. There is an element of non project income but that is relatively small. In 2024/25, the main funders for IPR were: Islington Core Grant Access for Work (DWP) - non project funding Cloudesley Charity Trust for London Thames Water Trust Fund The National Lottery Community Fund - Awards for All Camden and Islington NHS Foundation Trust: 1) Mental Health Project 2) Discharge Facilitation Service 230,000 39,083 37,304 49,000 39,700 19,996 89,250 2,000 Risks IPR maintains a Risk Register, it was updated in January 2023 after the pandemic. The main risks identified in January 2023 were: • Not achieving identified funding targets in 2020/21. • Significant reduction in or cessation of funding from London Borough of Islington, currently 54% of Income. • Sudden loss of CEO e.g. due to accident or illness. • Loss of Key Staff e.g. finance. • Insufficient staff top resource new funding. • Reserves fall below level set by Trustees. • Failure to recruit suitably experienced staff. Recruitment in the advice sector is becoming increasingly difficult, potentially impacting on the ability to deliver services. • Number of active Board members is fairly low and not completely reflective of the population served. Page 7
Islington People's Rights Trustees' Report Structure, Governance and Management Islington People's Rights (IPR's) current governing document are the 'Memorandum & Articles of Association' last revised in 1983. Islington People's Rights (IPR) is a registered charity and a company limited by guarantee. Over the last few years IPR has been reviewing its constitution with a view in the future to converting to a foundation based Charitable Incorporated Organisation (CIO). This is now planned to take place during 2025/26 and to be implemented as soon as possible following a formal decision at a special board meeting in September 2025. Currently, Trustees are appointed for a term of 1 year at the November AGM. Current Trustees are eligible to stand for re-election and there is no time limit in place for length of tenure. Trustees are recruited upon invitation and also expression of interest. Under the new CIO, trustees will be appointed for a term of 3 years, and will be eligible to undertake up to a total of 3 successive terms. Currently, there are 4 Trustees officers - Chair, 2 Vice-Chairs and a Treasurer. IPR new Trustees receive briefing 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. IPR is a member of a number of national and local bodies/ networks including: • Child Poverty Action Group (CPAG) • Advice UK • National Association of Welfare Rights Advisers (NAWRA) • Islington Advice Alliance (IAA) Page 8
Islington People's Rights Statement of Trustees' Responsibilities The trustees (who are also the directors of Islington People's Rights for the purposes of company law) 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 of Ireland". Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied 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 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and apply them consistently; • observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent; • state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 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 financial statements may differ from legislation in other jurisdictions. Small companies provision statement 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 16 September 2025 and signed on its behalf by: Omotoyosi Akinfemiwa Trustee Page 9
Islington People's Rights 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 2025 which are set out on pages 12 to 26. This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters | am required to state to them in this report and for no other purpose. To the fullest extent permitted 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 charity's trustees of Islington People's Rights you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of Islington People's 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 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination 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 audit goes beyond the limited assurance that an independent examination can provide. Consequently | express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement. Independent examiner's 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 I am qualified to undertake the examination because 1 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 attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of Islington People's Rights as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting 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 (FRS 102). Page 10
Islington People's Rights Independent Examiner's Report to the trustees of Islington People's Rights ('the Company') I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be Tim Sullivan FCA Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB Date: 14/10/25 Page 11
Islington People's Rights Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total Unrestricted Restricted 2025 Unrestricted Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income Total income Expenditure on: Raising funds Charitable activities Total expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 236,717 41,700 2,419 280,836 (8,238) (290,784) (299,022) (18,186) 16 181,835 163,649 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 16. 107,300 128,333 235,633 (218,970) (218,970) 16,663 344,017 170,033 2,419 516,469 (8,238) (509,754) (517,992) (1,523) Restricted 241,431 69,776 54 1,745 313,006 (9,248) (350,822) (360,070) (47,064) 130,444 132,547 262,991 (302,117) (302,117) (39,126) Total 2024 371,875 202,323 54 1,745 575,997 (9,248) (652,939) (662,187) (86,190) 131,35 228,399 39.126 268,025 16,663 180,312 181,835 181,835 The notes on pages 15 to 26 form an integral part of these financial statements. Page 12
Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand Islington People's Rights (Registration number: 01753440) Balance Sheet as at 31 March 2025 Note 11 12 13 2025 2024 10,514 51,162 152,211 203,373 (33,575) 169,798 180,312 14,435 61,659 158,386 220,045 (52,645) 167,400 181,835 Creditors: Amounts falling due within one year Net current assets Net assets Funds of the charity: Restricted Unrestricted income funds Designated Funds General Funds Total unrestricted funds Total funds 14 16,663 163,649 163,649 16 180,312 10,176 171,659 181,835 181,835 For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: • The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 12 to 26 were approved by the trustees, and authorised for issue on 16 September 2025 and signed on their behalf by: Omotoyosi Akinfemiwa Trustee The notes on pages 15 to 26 form an integral part of these financial statements. Page 13
Islington People's Rights Statement of Cash Flows for the Year Ended 31 March 2025 2025 Note 2024 € Cash flows from operating activities Net cash expenditure Adjustments to cash flows from non-cash items Depreciation Investment income Working capital adjustments Decrease/(increase) in debtors (Decrease)/increase in creditors Decrease in deferred income Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income Purchase of tangible fixed assets Net cash flows from investing activities Net decrease in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March 11 12 14 6 11 (1,523) 5,051 (2,419) 1,109 10,497 (10,320) (8,750) (7,464) 2,419 (1,130) 1,289 (6,175) 158,386 152,211 All of the cash flows are derived from continuing operations during the above two periods. (86,190) 4,694 (1,745) (83,241) (34,204) 3,151 (11,555) (125,849) 1,745 (9,323) 17,578) (133,427) 291,813 158,386 The notes on pages 15 to 26 form an integral part of these financial statements. Page 14
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charity status The charity is limited by guarantee, incorporated in, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding f1 towards the assets of the charity in the event of liquidation. The address of its registered office is: 6-9 Manor Gardens London N7 GLA These financial statements were authorised for issue by the trustees on 16 September 2025. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102) - Second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. Basis of preparation Islington People's Rights meets the definition 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. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Page 15
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the directors are required to make judgements, estimates and assumptions 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. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods. Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legacies Donations are recognised when the charity has been notified in writing 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 recognised 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 fulfilled in the reporting period. Grants receivable 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 recognised as a liability and included on the balance sheet as deferred income to be released. Deferred 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 when: - 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 dividend due. Dividends are recognised once the dividend has been declared and notification has been received of the Expenditure 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 asset's use. Other support costs are allocated based on the spread of staff costs. Page 16
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 Raising funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities 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. Grant provisions Provisions 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 amount of grant payable. Support costs 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. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains 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 losses. Depreciation 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: Asset class Plant and machinery Motor vehicles Depreciation 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 impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Page 17
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 Cash and cash equivalents ash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liqu vestments that are readily convertible to a known amount of cash and are subject to an insignificant risk ‹ change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. 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 restricted to that area or purpose. 3 Income from donations and legacies Unrestricted General € Restricted Total 2025 Donations and legacies; Three Oaks Trust Donations from individuals Grants, including capital grants; LB Islington (Free legal advice project) Out of debt advice Trust for London Cloudesley Islington crisis grant KidSupport Awards for All Other City Bridge - 2,117 230,000 : - 4,600 236,717 1,000 49,000 19,804 17,500 19,996 - 107,300 2,117 230,000 1,000 49,000 19,804 17,500 19,996 4,600 344,017 Total 2024 5,000 2,201 230,000 1,000 50,000 21,104 4,000 1,000 57,570 371,875 Page 18
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from charitable activities Unrestricted General Access to work Camden and Islington NHS Foundation Trust - Mental Health Project Camden and Islington NHS Foundation Trust - Discharge Facilitation Service Thames Water Trust Fund 5 Income from other trading activities Other 6 Investment income - 2,000 39,700 41,700 Restricted 39,083 89,250 - 128,333 Total 2025 39,083 89,250 2,000 39,700 170,033 Total funds Total 2024 43,296 89,251 40,000 29,776 202,323 Total 2024 € 54 54 Unrestricted funds General 2,419 Interest receivable and similar income; Interest receivable on bank deposits 7 Expenditure on raising funds Total 2025 € 2,419 Total 2024 € 1,745 a) Costs of generating donations and legacies Fundraising Total 2025 8,238 Total 2024 9,248 Page 19
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 8 Expenditure on charitable activities Note 10 Staff costs Health insurance Agency and temporary staff Training and conferences Staff welfare Printing, postage and stationery Sundries Bank charges Volunteer expenses Grant funding of activities Allocated support costs 9 Total 2025 378,397 4,303 26,023 188 272 635 7,651 56 30 479 10,706 81,014 509,754 Total 2024 € 485,617 3,175 29,190 545 722 1,832 10,592 232 55 23,348 97,631 652,939 9 Analysis of governance and support costs Support costs Rent Insurance Telephone and fax Computer expenditure Memberships and subscriptions AGM costs Independent examination Payroll Legal, professional and consultancy Bad debts written off Depreciation Total 2025 35,508 1,508 9,293 21,230 1,797 1,162 4,058 592 815 5,051 81,014 Total 2024 97,631 Page 20
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 10 Staff costs The aggregate payroll costs were as follows: 2025 2024 Staff costs during the year were: Wages and salaries Social security costs Pension costs 335,684 21,924 20,789 378,397 425,554 33,496 26,567 485,617 The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2025 No 2024 No Charitable activities - Staff Governance - Staff 7 1 8 8 1 9 No employee received emoluments of more than £60,000 during the year. The number of employees whose emoluments fell within the following bands was: 2024 No £60,001 - £70,000 The total employee benefits of the key management personnel of the charity were £77,947 (2024 - £86,478). 1 Page 21
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 11 Tangible fixed assets Furniture and equipment Total Cost At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 12 Debtors 33,232 1,130 34,362 18,797 5,051 23,848 10,514 14,435 33,232 1,130 34,362 18,797 5,051 23,848 10,514 14,435 Trade debtors Prepayments Accrued income Other debtors 2025 6,239 1,678 36,562 6,683 51,162 2024 31,794 2,224 20,957 6,684 61,659 13 Cash and cash equivalents Cash at bank 2025 € 152,211 2024 f 158,386 Page 22
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 14 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals Deferred income 2025 8,724 5,084 10,767 9,000 33,575 2024 12,997 7,581 14,317 17,750 52,645 15 Taxation The charity is a registered charity and is therefore exempt from taxation. 16 Funds Current year Unrestricted General General Funds Designated IT Upgrade Total unrestricted Restricted Access to Work Cloudesley KidSupport Trust for London Mental Health Project Out of debt advice Awards for All Total funds 171,659 10,176 181,835 : - - 181,835 Incoming Resources resources expended 280,836 280,836 39,083 19,804 17,500 49,000 89,250 1,000 19,996 235,633 516,469 Page 23 (299,022) (299,022) (39,083) (19,804) (17,500) (49,000) (89,250) (1,000) (3,333) (218,970) (517,992) Balance at 31 March Transfers 10,176 (10,176) - 163,649 163,649 - 16,663 16,663 180,312
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at 1 April 2023 Incoming resources Resources expended Transters Prior year Unrestricted General General Funds Designated IT Upgrade Manor Gardens Joint Project Fundraising IPR Carers Project Bridging Development Fund Social Policy Project Total unrestricted Restricted Access to Work Cloudesley London Catalyst / Hospital Saturday Fund KidSupport The City Bridge Trust Trust for London Mental Health Project Out of debt advice Islington crisis grant Awards for All 182,176 10,176 7,500 1,661 5,000 12,386 10,000 46,723 228,899 : 7,639 3,000 18,487 Total funds 10,000 39,126 268,025 313,006 - 313,006 43,296 21,104 54,340 50,000 89,251 1,000 4,000 262,991 575,997 (360,070) - - (360,070) (43,296) (21,104) (7,639) (3,000) (54,340) (50,000) (89,251) (19,487) (4,000) (10,000) (302,117) (662,187) Balance at 31 March 2024 36,547 (7,500) (1,661) (5,000) (12,386) (10,000) (36,547) 171,659 10,176 10,176 181,835 - 181,835 During the year, the full brought forward balance of £10,176 designated for the IT Upgrade was released to the general fund. Page 24
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 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. Funding has been obtained to finance the upgrade of our IT infrastructure and systems, some that will incorporate Artificial Intelligence (Al) functionality. All designated funds were transferred back to the General Fund as at 31st March 2025. Restricted funds: Access to Work - a government supported scheme to help employers like 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 Hospital 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 IPR KidSupport Project. The City Bridge Trust - for a full time Specialist Caseworker to provide specialist welfare and debt 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 representation, plus linked social policy work. Mental Health Project - Following a 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 Central Primary Care Network (PCN). This service was put out to tender which Islington People's Rights were successfully awarded in December 2022. This service employs 2 caseworkers. Out of debt advice - funds received from Advice UK towards the costs of administering Debt Relief Order applications. Islington Crisis - funds to help relieve financial distress 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. Page 25
Islington People's Rights Notes to the Financial Statements for the Year Ended 31 March 2025 17 Related party transactions There were no related party transactions in the year. 18 Analysis of net assets between funds Current year Tangible fixed assets Current assets Current liabilities Total net assets Unrestricted funds General Designated € 10,514 186,710 (33,575) 163,649 Restricted funds 16,663 16,663 Total funds at 31 March 2025 10,514 203,373 (33,575) 180,312 Prior year Tangible fixed assets Current assets Current liabilities Total net assets Unrestricted funds General Designated € 14,435 209,869 10,176 (52,645) 171,659 10,176 Total funds at 31 March 2024 14,435 220,045 (52,645) 181,835 Page 26