REGISTERED COMPANY NUMBER: 03853697 (England and Wales) REGISTERED CHARITY NUMBER: 1077850 Re ort of the Trustees and UnaudÈted Financial Statemcnts for the Year Ended 31 March 2024 for The Inde endent Newham Users forum Mental Health Accountability l.ondon Limited London
en Users Forum Fin ed31M h 11 Page Report of the Trustses Ito5 Ind¢p¢nd¢nt EKamin¢r's Report 11 Statement of Financial Activities Balance Sheet 8t09 Notes to the Financial Statements IOto19 Detsiled Ststement of FinanGial Activities 20to22
Newh ser ortof eye eTru En d31M h2024 The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with 11 the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities. Ststement of ReconMn¢nded 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 l January 2019). OBJECTIVES IIND ACTIVITIES Objectives and alms Mission statemertt: Supporting people with metttal health n¢cds in East London. Our objectives are: a) To enable and encourage persons with mental health problems under the care of the East London and City Mental Health NHS TrusL to be involved in all local mentsl health serrfice design or implementation. b) To assist persons with mental health problems to obtsin their full rights and privileges as citizens. c) To educate the general public in the causes, treatment and consequences of mental health disorders, and raise the public's awareness of the needs of persons with such disorders. Aims of the charity: To achieve our aims The Independent Newham Users Forum (Mental Health) ("INUF") will: Retain a user-led approach in all its activities and developments. Provide access to a safe and supportive environment in which skills can be developed and views shared. 11 Provide opportLmities for people to develop greater confidence and individual capacity to be involved at a strategic level. Support emerging, user-led initiatives by offering acce8S to community facilities. Provide acc¢s8 to infonnation related to matters impacting on people, s daily lives and mental health needs. Ensure mentsl health service users are provided with an opportlmity to be consultsd on local services and d¢velopments. Maititsin an 'open-door' policy at all times for mental health service users and members of the clwity. Celebrate the diversity of cultLJrcs in East Londofy by listening to pcopl¢'s needs and promoting eqwality of seryice provision. Significant activities INUF experienced major financial difficulties during this financial year. Costs exceeded income. Sources of income declined over time. We managed to obtain the following grants during the year £6,425 from London Borough of Newham, £3,000 from London Catalyst, £375 from Groundworks and £7,238 from Sport England. The area used as a restaurant which is leased to Spice Villa was closed for refibIS1jrnellt for six months from I November 2023 so this reduced the rental income r¢ceived by the Charity. A new tenant was found for one of the empty offices in October 2023. Pag¢ I
Newh sers F talH I 2024 OBJECTIVES ATr4D ACTIVITIES Public benefit The Trustees confinn that they have complied with the duty in section 4 of thc Charities Act 2006 to havc due regard to public benefit guidance published by the Charities Commission in det¢rniining the activiti¢s undertaken by INUF, which defines the requirement that the charitable pUOSe of a charity must be "for the public benefif,. Th¢ objectives and activities, and achievement and perforniance sections of this report clearly set out that the activities which the charity undertakes are for the public benefit. Volunteers INUF is highly reliant on and values its voluntecrs, the majority of whom are service users/survivors. Volunteers assist 11 in many aspects of INUF'S activities, including strategy development, providing peer support, facilitsting activities, 11 attending consultstion events with the local authority and providing administrative and reception supporL currently Iw around 80 volunteers recorded. A regular corc of 20+ voluntcers participatcs in a variety of activities. Volunfrers are included in all strategic planning to ensure they feel valued and play an active role in INUF'S future developments. Ea¢h ¢nty point r¢quir¢s the completion of a simple, 4-page membership forni, along with two proofs of identity.for an Enlwiced DBS check. An interview takes place which then leads on to training. Volunteering is a route for many to fmd employmellt, both with INUF and also with outside organisations. It also provides an opportL]nity for volunteers to return to education and explore opporlunities available there. ACHIEVEMENT AND PERFORMAI¥CE Charltable actlvities In a nornial year th¢ are a number of ongoing objectives that INUF fu1fi18. Th&se include consultstions and user involvement in service planning and development, In the current financial year these activities were on a limited scale. Fundraising activjties Funding has been difficult in the current economic climate. All con)munity and clwity wups are suffering, due to the r¢duGtion in th¢ totsl amount of fimding available. Given this situation INUF b¢en looking at maximising income generatsd by Ithaca House itself. Ding the year we were awarded 4 new grants totalling £17,038 to support our work. FINANCIAL REVIEW Reserves policy The trnstees are working towards agreeing a suitable reserves policy within the next financial year.. Cunryently our monthly income is approximately £10,700 (excluding any Grant income) expenses each month are £11,850, So, INUF needs additional income of £l.150 each month. Based on the current financial costs we need to have reserves of £32,000 to ensure tNUF can continue to operate for a full 12 months on its own resources without requiring additional grants. knently tFIUF no reserves in place. 11 Where fi]nds can be raised to cover the Core Costs the money generated from the building can be used to build up 11 reseryes to this level. Income from Ithaca House fell this y¢aT from £104,373 to £100,848. Th¢ building continu¢s to bc the main source of funds for thc activities INUF provides for its members. To improve cashfiow, INUF has engaged in a process of aged debt T0Very> and the Trustees are active in debtor managemenl to ensure strict financial management. 11 11 Page 2
ent Ne li rs Forum tal Heal rt ftheT Ended 3 for h20 FTrIANCIAL REVIEW (continued) Many of our costs are linked to the we receive. Although our gas and el¢ctricity costs have stabilised this year they remain historically high, our total Health and Education costs have fell this year from £105,596 to £55,090. The deficit this year is due to the depreciation c1kge on the building improvements and higher Gosts of and electricity coupled with the fact that two major offices had not been let for most of the year. The Tnjstees will continue to monitor the financial situation very carefully. The accounts include the costs incurred in renovating the building as a fixed asset under restricted funds and this is being depreciated. This trealm¢nt is used to reflect the usage INUF makes of Ithaca House. This cost was fi]Ily depreciated by the end of the financial y¢ar. INUF can meet its day-to-day expenses. However, to continue to provide excellent service to its users, the building shall require a restoration PToject given on going wear and tear. All expenses are monitored and approved before being incurred. All bircrs and tcnants ar¢ followcd up promptly to ensure they have paid for the room hire or office rent. A finance report is presented at each TnteeS meeting 11 highlighting the financial position of the organisation. FUTURE PLANS The TnLstees of INUF prepare a Business Plan whilst keeping in mind its financial position and lack of building restoration reserves. The plan directs the future direction of INUF, including whether it retains its current projects or allows them to reach their naturnl conclusion. To date INUF has not advertised the centre as widely as it could, and this is one area that will be made a priority to ensure sustsinability is not jeopardized. The year was very difficult for INUF and our reserves all but disappeared. The year to 31 March 2025 has been even more challenging as the spaces have not been let and the costs have continued'to rise. With effect from April 2024 the office rents will increase by 50/0. The spaces and room hires have been extsnsively advertiscd. Wc have been able to rent out meeting spaces to therapists and to the NHS Newham Recovery College for their training meetings. The l¢as¢ with the fast-food takeaway has been renegotiated with the ient increasing to £18,500 per year. Our largest single expense is the wages bill. We have reduced the bill as two employees have left the payroll, and another has taken a reduced salary, With regards grant funding IFWF has made several applications. However, none have been successful to date. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The charity is controlled by a deed of its Memordndum and Articles of Association, and constitutes a compally, limited by guarantee, as defined by the Companies Act 2006. 11 Reeruitment and appointment of nevy trustees The Trustees are democratically elected and/or co-opted under the ternis of the Memorandum and Articles of 11 11 Association by Tndividual Members and/or Open Members. Trnstees serve for a period of one year after which time they may offer themselves for reappointment. Organisational structure Its Memorandum of Association sets out the objects and powers of the Charity. The Articles of Association estsblishes its governance. In the event of INUF being wound up members are required to contribute an amount not exceeditig £1. Legal responsibility for the management and stewardship of the clwity is vested in the Board of Trustees. Pag¢ 3
endent am Users Fo ortof e Trnstees f r the Year End l M h2024 Nornially the Trustees meet every two months. However, during these unprecedented times it has been difficult to find 11 11 suitsble times. So, meetings have been very ad hoc. From time to time the Board of Trnstees creates sub-committees, 11 reporting on matters concerned with finance, strategic planning and fundraising. The sub-conmiittees report to the Board of Trustees where decisions are ratified. The Board of Trustees includes a mix of skilled and knowledgeable individuals that support the charity in its activities. These 'skills range from business managemen¢ mental health, Community organisation to IT and teaching. To renlti as a user-led charity, INUF feels that it is important to be able to ensure the governing body reflects the community it serves whilst expert assistance is received from skilled non-board volunteers and other training organisations. In all effort to enhance skills, Trustees are encouraged to attend all appropriate training identified. STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees Each new Trustee receives an induction pack including key policies and procedures at the first Board meeting they attend. They are also given an overview and introduction to the charity. Tn]stees are provided with the following information at their induction: . Tnte¢ roles and responsibilities; • Memorandum and Articles of Association; . Values; • Annual and Financial Report; • Key policies and procedures; . List of training days if available. . Future plans for the cknty. Although some Trustees are familiar with INUF and have served as Trustees for some years. INUF feels it is beneficial for all TnteeS to remind themselves of our mission ststement, aims and objectives each year they are elected to maintsin focus. Key management remuneratlon The totsl compensation paid to key management personnel amountsd to £29,690 (2023: £32,461 as restated). This includes contribution8 to a Workplace Pension of £612 (2023: £677). Risk management The Trustees conduct an annual rcview of the major risks to which INUF is exposed through business planning. Where 11 appropriate and iderttified* Systems or procedures will be established to mitigate the risks the charity faces. Most con]munity groups face external risks to funding which has led INUF towards developing a strategic plan. This will allow for diversification of funding if possible and shape thc charity's tUre direction. Internal risks are minimi$¢d by the implementstion of procedures for authorisation of all transactions alld projects. Procedures are in place to ensure compliance with health and safety, security and other potential risk areas by staff, volunteers, beneficiaries, trustees, occupants and visitors to the centre. There are annual inspections and servicing of the fire alarni systems, security 11 alarnis and central heating systems. A Third-Party Company carries out a DBS check for all of our volunteers. INUF operates a Zero Tolerance policy relating to alcohol and recreational dnigs on its premises. This has proved very effectlV6 in reducing potential untoward incidents and ensuring safety for all building uscrs. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03853697 (England and Wales) Registered Charity number 1077850 Page 4
endent Ne 11 ftheT Year En IM h2 24 REFERENCE AND ADNIINISTRATIVE DETAILS Registered office Ithaca House 27 Romford Road Strarford London E15 4LJ Trustees J Meek V Petcrs Ms S Ruiz Ms M Quinlan R Sangani T Crookes Director Director Director Director Director Director Independent examiner Elizabeth Liberda-moreni FCCA DChA A¢Untabl]ity London Limited 16 Mak¢pwe Avenu LL)ndoll, N6 6EJ Approved by order of the board of trustees on ...28.November 2024... and signed on,its behalf by: J Meek - Trnstee Page 5
Inde endent Examiner's Re ort to the Trustees of The Inde endent Newham Users ForLlln Mental Health Independent examiner's report to the trustees of The Independent Newham Users Forum (Mental Health) ('the Company,) I Teport to the charity trustees on my cxamination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 7 to 22. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requireEncnts of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company ai"e not requllrd to be auditcd under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my exalnination I have followed the Directions given by the Charily Commission under section 145(5)(b) of the 2011 Acl. Independent examiner's statement 11 I have completed my ¢xamknation. I collfn that no matters have com¢ to my attention in connection with the exdmination giving rne cause to believe that in any material respect: accounting records were not kept in respect of the company 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 pnnciples of the Statement of Recomrnended 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)]. I hav¢ no concerns and hav¢ com¢ across no otkn¢r matt¢rs in Gonnection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accOLtS to be rcached. Elizabeth Lib¢rda-Moreni FCCA Accountability London Limited 16 Makepeace Avenue, London, N6 6E5 Date- December 2024 Page 6
ntN h 11 IH nt of Fin r the Year End h 2024 31.3.24 Total 31.3.23 Total Unrestricted funds Restricted li Notes Donations and legacies 3,049 3,049 6.432 Charitable activities Health and Education Other tra(ling activities Investment income 17,038 740 17,038 7,464 100,982 1,325 1,301 104.448 6.724 100,982 Total 110,755 17,778 128,533 113.506 Raising fulS 86,523 86,523 106,325 Charitable Activitie$ Health aul Education Golrrnance 36271 2,730 18,819 55.090 2,730 105.596 13,471 Other 1,114 1,114 1,421 Tot 126,638 18,819 145,457 226,813 NET INCOMVJ(EXPEIYDTIIJRE) (15,883) (1,041) (16.924) (113,307) RECONCItJATION OF FUTr4DS Total funds brought forward 2,475 2,085 4,560 117.867 YDTAL FUNDS CARRIED FORWARD 13 408 1044 12 364 4560 CONTINUING OPERATIOTrIS All income and expenditure has arisen from continuing activities. The notes forni part of these flltsttcial statements Page 7
The Inde endent Newham Users F0M Mental Health istered number: 03853697 Balance Sheet At 31 March 2024 31.3.24 Total funds 31.3.2J Total Unrestricted funds Restricted funds funds Notes FLYED ASSETS Tangible assets 3,230 1,044 4,274 6,429 CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank and in hand 12 15,312 15,312 15.084 2,055 27,975 45,114 12,642 27,954 12,642 27,954 CREDrroRS Amounts falling due vlithin one year 13 (26,315) (26,315) (23,456) NET cuRREr ASSETS 1,639 1,639 21,658 TOTAL ASSEIS LESS CURRETr4T LIABILrtIES 4,869 L,044 5,913 28,087 Amounts falling after more than one year 14 (18,277) (18,277) (23,527) NET ASSETS (13,408) 1,044 (12,364) 4,560 FUNDS Unrestricted funds Restricted funds 16 (13,408) 1.044 (12,364) 2,475 2,085 4,560 The notes forni part of these financial statements Page 8 continucd...
eIll tNe Fo is 11 Ce The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtsill an audit of its financial ststements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. The trustees ackllowledge their responsibilities for (a) ensuring that the charitsble company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year alld of its SUluS or deficit for each financial year in accordance with the requirements of Sections 394 alld 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financia] statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to clwitsble small companies. The fmancial statements were approved by the Board of Trnstees on 28. November 2024 and were signed on its behaIf by: J Meek -Trustee The notes forni part of these financial statements 11 Page 9
dent Newh User ith IJ for arch 2024 ACCOUNTING POLICIES Charltable activities The Independent Newham Users Fonlln (Mental Health) ( INUF") is a charity, limited by guarantee, incorporated in England and Wales. The charity's gIStered office is Ithaca Hous¢, 27 Romford Road, Stratford, Londo E15 4LJ. The charitsble activities of the charity continues to be: a) To enable and encourage persons with mental health problems within the London Borough of Newham, and 11 other boroughs under the care of East London and City Mentsl Health NHS TrusL to be involved in all local 11 mental health service design or implementation and to assist persons with mental health Problems to obtain his or her full rights and privileges as citizens. b) To educate the general public in th¢ causes, treatment and consequences of mental health disorders and raising the publics awareness of the needs of persons with such disorders. Basis of preparing the fanCial ststements The fmancial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and R¢ports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has Involv following the Charities SORP (FRS 102) published in October 2019 rather than the AcGounting and Rq)orting by Charitics: Statement of Recommended Practice effective from l April 2005 which bas since been withdravm. The fmancial statcments of the charitsble company, which is a public benefit entity under FRS 102, have been prepared in accordallce with the Chariti¢s SORP (FRS 102) 'Accountitig and Reportitig by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102) (eff¢Gtive l January 2019),, Financial Reporting SLandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial ststements have been prepared under the historical cost onvention. The charity's functional and presentational curr¢ncy is Pound Sterling. The charityls financial statements are presentsd to the nearest pound. Going concern The charity's main source of income is from the letting of office spaces and room hire of Ithaca House. To meet its day to day working capitsl requirements the charity is dependent upon this rental income. The year 11 was very difficult for ]NUF and our reserves all but disappeared. The year to 31 March 2024 has been even more challenging as the spaces have not been let and the costs have continued to rise. To improve cashflow 11 IFWF agreed to reduce payments to Electricity, Gas and Water suppliers to a minimum of £5 per month. Additionally, a 6 month paytllent holiday was granted on the Bounce Back loan fr(mi l January 2024. Our largest single expense is the wages bill. We are looking at all options to reduce this bill whilst maintaining our services. INUF Ims been able to rent rooll to therapists and the NHS Newham Recovery collcgc since the beginning of 2024. Additionally with effect from April 2024 the office rents will increase by 5%. The lease with the f&st-food tskeaway is currently being negotiated and it should be finalised in March to. April 2024.The rent being negotiated is between £2,100 and £2,500 per month. With regards grant funding tNUF has secured two grants totalling £11,000 in the first quarter of the 2024 alendar year which will be used to cover the salaries. After Jnakitig enquires, the Trnstees havc a reasonablc cxpeGtation that the Charity will have adcquate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt a going concern basis in preparing the financial statements. Page 10
t Newham Use 11 es th Financi forthey En on ACCOUNTING POLICIES - continued Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. 11 11 For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate 11 has been granted, the estate Iw been finalised and notification has been made by the executors to the Trust that a distribution will be made, or when a distribution is received from the estste. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the company has been notified of the executoes intention Éo make a distribution. Where legacies have been llotified to the company, ot the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the 11 legacy is treated as a contingent asset and disclosed if material. Other income is recognised in the Ststement of Financial Activities once the clwity entidement to the fLmds, 11 it is probable that the income will be received, and the amount Gan be measured reliably. Interest on fi]nds held on dq)osit is included when receivable and the amount can be measured reliably by the company) this is noTmally upon notification of th¢ interest paid OT payable by the Bank, Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the clwlty to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an aCQnlS basi8 and has been classified under headings that aggregate all Gost related to the category. Where costs cannot b¢ directly attributed to particular headings, they have been allocated to activities on a basis Gonsistent with the use of resources. Tangible fjxed assets Depr¢ciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ImpTov¢ments to propety Fixtures and fittings 5% oncost - 250/0 on reducing balance Debtors Trade debtors are recognised at the settlement amount after any trade discount offered. Cash and eash equivalents Cash at bank and in band includes cash and short teiyti highly liquid investments with a short matiwity of three months or less from the dafr of acquisition or opening of the deposit or similar account. Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past evenL it is probable that a transfer of economic benefit wi]1 b¢ required iti settlem¢nt, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payinents for the goods or services it must provide. 11 Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at 11 the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is re¢ognised within interest payable and similar charges. Taxation The charitable company is Considered to pass the tests set out in Paragraph I Schedule 6 of the FinanGc Act 2010 and thcTcfore it meets the defmition of a clwitable company for UK CooTatiOn tax purposes. 11 Accordingly? the charitable company is potentially exempt from taxation in respect of income or capital gains received within categori¢s covered by Chaptcr 3 Part I l of the Coryoration 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. Page 11
eInd tNe ham Users Forum on for Year En ACCOUNTING POLICIES - continued Fund aceollnting Unrestricted funds can be used in accordance with the clwitsble objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by th¢ donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fimd is included in the notes to the financial ststements. 11 Operath)g Jeases Rentals under opernting leases are charged to the Stat¢ment of financial activities on a straight-line basis over the lease terni. Financial instruments Th¢ charitsble company only has financial assets and fmancial liabilities of a kind that qualify as basic financia] instruments. Basic fmancial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the ¢xc¢ption of bank loan8 which are subsequently measured at amortised Gost using the effective interest method. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective intsre8t method. Debt instnllnents that are payable or receivable within one year, typically trade payable8 or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-terni instrum¢nt ¢onstitutc a financing transaction, like the payment of a trade debt deferred beyond nornial business ternis or financed at a rate of interest that is not a market rate or in case of an out-right short-tsrni loan not at market rate, the financial asset or liability is Aneasured, initially, at the present value of the fvtur¢ cash flow discounted at a market rate of interest for a similar debt instnunent and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impainnent. If objective evidence of impairnient is found, an impairnient loss is 11 recognised in the profit and loss account. For fmallcial assets me&sured at amortised cost, the impairment loss is measured as the difference between an assets, carrying amount and the present value of estinted cash flows discounted at the assets original effective 11 intsrest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairn]ent loss is the current effective interest rate detern]ined under the contract. For financial assets measured at cost less impainllenL the impairment loss is measured as the difference between 11 11 11 an asset's caffying amount and best estimat¢ of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 12
TheIn ent Newham Users Fo l Health -con 2024 JUDGE11T IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY The preparation of the finattcial statements r¢quir¢s the dirextors to make judgements, estin]ates and 11 assumptions that can affect the amounts reported for assets and liabilities, and the results for the year. The 11 nature of estimation is such though that actual outcomes could differ significantly from those estimates. 11 11 The following are the company's key sources of estimation uncertainty: 11 Tangible fixed assets The charity has recognised tangible fixed assets with a caTrying value of £4,274 at the reporting date (see note I l). These assets are stated at their cost less provision for depreciation and impairnient. For material assets such as land and buildings the charity determines at acquisition reliable estitites for the ll8efi life of the asset, its residual value and decommissioning costs. These estimates are b&sed upon such factors &8 the expected use 11 of the acquired &sset and market conditions. At subsequent reporting dates the trustees consider whether there arc any factors such as technological advancements or Ghanges in market conditions that indicate a need to reconsider the estimates used. Where there are indicators that the carrying value of tangibl¢ assets may be impaired the charity undertakes tests to determine the recoverable amount of assets. These tests require estimates of the fair value of assets less cost to sell and of their valu¢ in use. Ivherever possible the estimats of the fair value of ass¢ts is based upon observable market prices less incremental cost for disposing of the asset. The value iti use calculatiott is based upon a discounted cash flow model, based upon the charlty's forecasts for the foreseeable future which do not include any restructuring activities that the clwity 18 not yet committed to or significant future investments that will enhance the asset's perforn]ance. The re¢overable amount is most sensitive to the discount rate used for the discounted cash flow model as well expected future cash flows and the'growth rate ysed for extrapolation purposes. 31.3.24 31.3.23 Photocopyusage Miscellaneous room hire income 285 7,179 288 1013 11 7,464 1,301 31.3.24 31.3.23 Rents received Income from room hire 59,991 40,857 134 66,920 37,453 75 11 Deposit account interest 100 982 104448 Page 13
The Inde endent NLM,ham Us¢rs Forum Mental Health Notes to the FinanciaI Statements - continued for the Year Ended 31 March 2024 RAISING FUNDS 31.J.24 31.3.23 Staff costs Administrative expenses Telephone Property repaiTS & maintenance Accountancy Council Tax Heat & light Cleaning Insurance Fire Safety 63,490 718 1,254 792 3,482 2,377 3,906 3,023 1,084 673 59,340 211 1,053 861 15,040 1,574 15,939 2,022 4,367 828 [ li PRS subscription Waste Collection Equipment rental Expensed equipment Bank stlce charge Travel Refreshments Bad debt Provision Volunteer expenses Marketing 94 338 142 403 384 261 252 101 10 116 3,365 1,562 2,794 986 86,523 106,325 NET ITrICOMEI(EXPENDrruRE) Net income/(expenditure) is stated after chargingl(crediting): 31.3.24 31.3.23 Depreciation- owned assets Independent examination 2,155 1,310 37,935 2,400 TRUSTEES, REItrIUNERATION AfiD BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There vKre no trustees, expenses paid for the year ended 31 March 2024 nor foT the year ended 31 March 2023. Page 14
The Ind en en ntNe 11 otes eFin forthey En ial ements - 11 ntin Ch 2024 STAFF COSTS 31.3.24 31.3.23 Wages and salaries Other pension costs 89,744 1,024 87,449 1.152 90 768 88,601 The aTrErag¢ monthly number of employees dillg the year was as follows: 31.324 31.3.23 Admiillstrati No employees receiTrEd ¢molum¢nts in cxcess of £60,000. ThG total compcnsationpaid to key management pcrsomicl amounted to £29,690 (2023: £31,332). This includes contributions to a Workplace P¢nsion of £612 (2023:£677). PENSION COST The Clwity operates a defined contribution pension scheme. The &8sets of the scheme are held separately from those of the Charity in an Ind¢ntlY admiillSt¢r¢d fun(L The pension cost represents contributions payable by the Charity to the fund and amount to £1,024 (2023: £1,152). Contributions totalling £228 (2023: £256) were payable to the fund at the balance sheet date. 10. COMPARAIIVES FOR THE STATEMENT OF FINANCL4L AClIVtTIES Unrestricted funds R¢stricted Total ll¥COME AND ENDOWMETh FROM Donations and legacies Charitable aetivities Health and Education Oth¢r trading activities Investment income 6,412 20 6.432 1,325 740 1,325 1,301 104,448 561 104.448 Total 111,421 2,085 113,506 Raising funds Charitable actlvities Health and Education GornanCe 106325 106,325 66.997 13,471 1.421 38,599 105,596 13,471 1,421 Total 188214 38,599 226,813 IYET INCOMEI(EXPENDTIIIRE) Carried forward 76,793 76 793 36,514 36 14 113 307 113 07 Page 15
eInd endent New sers Fo ontinued for the Ye Endd 10, COMPARATIVES FOR THE STATEMENT OF FllYANCIAL ACTIVffIES continued Unrestricted Restricted funds Total fimds $1 RECONCILIATION OF FUNDS Brought forward Total funds brought forward (76.793) 79,268 (36.514) 38.599 (113,307) 117.867 TOTAL FUNDS CARRIED FORWARD 2475 2 085 a60 11. TANGIBLE FIXED ASSEYS IMpr0mentS to property Fixtures and fittings Totsls COST As at I Pwil 2023 786,605 84,656 871261 as at 31 March 2024 786 605 84 656 871261 DEPRECIATION A8 at l April 2023 Cbarge for the Year As at 31 March 2024 784,520 1,041 785 561 80,312 864,832 1114 2155 866 987 81426 87 NET BOOKVALUE As at 31 March 2024 As at 31 March2023 2085 4344 6,429 12. DEBTORS: AMOIINIS FALLING DUE WTTlltN ONE YEAR 31.3.24 31.323 Trade debtors Other debtors 18368 309 18 677 14,775 309 15.084 31.3.24 31.3.23 Bank loan Rent deposit Other Creditors Tax and social security Workplace Pension Contribution A¢¢nd expenses 9,139 10,423 1.377 1,078 228 4,070 10,457 10,423 520 256 1.800 26,315 23 456 Page 16
enden 11 cial Ststem IM h2024 31.3.24 31.3.23 Bank loan 18 23 527 The chlty received a Coronavir8 Bounce Back Loan totalling £50,000 from Th¢ Co-operative Bank in 2020. Repayments commenced from August 2021, with interest accruing at a fixedrate of 2.5 % per annum. 15. LE4sIG AGREEMETrIIS Minimum lease payments ullder non-callcellable operating Icases fall (lue as foll0v. 31.3.24 31.3.23 Within one y¢ar B¢tHcen one and fiic years 945 1890 945 2834 16. MOlThfENfIN FUTrIDS At 1.4.23 Net movement in fimds At 31.3.24 Unrestrieted fi]nds General fund Restrleted fimds IMpr0MentS to Building Mentsl Health Sw)port F]d 2.475 (15,883) (13.408) 2,085 (1,041) 1,044 TOTAL FUTr4DS 4.560 16.924 12 364 Net movement in funth, included in the abo are as follows: Incoming tesources Resources exFnded Movement in fun& Unrestrieted funds Gcneral fimd 110,755 (126,638) (15,883) Restricted fidS Jmprovements to Building Mental Health SUprt Fund (1.041) 17 778 18,819 (1,041) 17.778 17.778 1041 TOTAL FUNDS 128,533 (145,457) (16,924) Page 17
The Ind e Finan f rtheYearEn Ista ments - continu h2 16. MOVEM IN FufqD&continued Comparatiirs for movement in funds 11 At 1.4.22 Net movement At31.3.23 Ji i• Unrestrxeted fimds General fund Restrlcted funds ImproVennts to Building Mental Health Sw)port Fund 79268 (76,793) 2,475 38.599 (36,514) 2,085 TOTAL FUIYDS 117867 113 307 4560 CompatatiVES net movcment in fiuKls. includcd in the above are as followB: Incoming Resources resources expended M0Ment 11 Unrestrlcted funds General fUd Restricted fiwds Improv¢ments to Building Mental Health Swrt Fund 111.421 (188,214) (76,793) (36,514) 2,085 38,599 226 813 (36,514) 2,085 2,085 113506 36,514 113307 DTAL FUPIDS Current year 12 months and prior year 12 months coMbid position is as follows: At 1.4.22 Nct movcm¢nt At 31.3.24 11 in funds as restated Unrestricted funds G¢neral fund Restricted fimds Improvements to Building Mental Health Support Fund TOTAL FufrfDS 79.268 (204,097) (124,829) 38.599 (37,555) 1,044 117867 241.652 123.785 Page 18
Thlnd endent Ne l Health forth Y En 24 16. MOVEMEwf IN FufqD&contlnued ent year 12 months and prior year 12 months combined net moTrement in funds, included in the aboTrE 11 Incoming resources Resources expended as restated m0Mellt 11 as restated reststed Unrestricted funds General fund Restrlcted fi]nds Jmprovements to Building Mental Health Sw)y)rt Fund 110,755 (314,852) (204,097) (37.555) 19 863 (37,555) 19,863 19 863 130 618 57418 372270 37555 241,652 TOTAL FUF4DS IMpr0mentS to Building relate to costs incurred in renovating the building from 2002 and are b¢itig amortised over 20 years at £39,331 pcr year. Mental Health Support Fund realted to antS iknich have been obatined to sw)port the charitsgs work to sw)port its memkrs. This canbe in the forni of AdK)cacy. health andwell-being activities and Art therapy. 17. REL4TED PARTYDISCLOSURES There were no otsr relatedpaty transactions for the year ended 31 March 2024 or 31 March 2023. Page 19
sers ForLmi Detsiled Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Donatlons and legacles Donations Book sale 3.036 13 3.049 5,878 554 6,432 Other trading activities Photocopy usage Miscellaneous room hire income 285 7,179 7,464 288 1013 ijoi 11 Il Investment income Rents receid Incom¢ from room hire DesIt accoullt interest 59991 40,857 134 100.982 66,920 37.453 75 104,448 Charitable activities 17038 1325 Total incomlng resources 128,533 113.506 Ralslng donations and legacles Wages Pensions Telephone Printing, postage & ststionary AccouDtaDcy 6.550 103 7.076 119 370 7,565 6.654 Other trading activities Wages Office sw)plies Printing and reproduction 214 214 53 53 Investment management costs Wagcs PensiotL8 Carried forward 56.264 573 56.837 51,501 644 52,145 This page does not forn] part of the statutory flnancial statements Page 20
Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 tnvestment management costs Brought forward Adm1xllstrati cxpenses Telep1lle Property repairs & maitit¢nan¢e Accountancy Council Tax Heat & light Cleaning Insurance Fire Safety PRS subscription Waste Collection Equipment r¢ntal EnSed equipment Bank service charge Tra1 Refreshmcnts Bad debt Provision Volwrt¢er expenses Consulting 56,837 504 1253 792 3.482 2,377 3,906 3,023 1,084 673 94 338 142 52,145 158 1,053 861 14,670 1,574 15,939 2,022 4J67 828 403 384 261 252 101 10 116 3,365 1,562 2,794 986 98,707 79.655 Charitable activitles Wage8 Pensions Gifts and donations Insurance Telephone Refreshments Room hir¢ Incal Council Rates Heat & light Office costs Equipment rcntal Staff travel and subsistence Waste collection Postage and delIry Carried forward 26,930 348 28,872 390 776 821 655 5,098 1,063 484 944 9.367 520 1,574 15,939 484 980 286 384 43 55,597 818 33 337 10 41.559 This page does not forni part of the ststutory financial statements Page 21
Detailed Ststement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 Charltlable activities Brought forward Beneficiary equipment Beneficiary expenses Accountancy Cleaning and security Dues and subscription Bank seThice charg¢ Volunteer expenses Loan interest Marketing Depreciation of tangible fixed assets 41.559 55,597 40 665 10.632 112 924.67 4321 2J90 417 26 4653 531 150 36 514 1.041 14 55,090 105,596 120 991 Other Depr¢ciation of tangible fixed assets 1.114 1.114 1421 1,421 Support costs Governance costs Independent examination Accountancy fees Eripment Rental Refreshments ijio 1,384 36 2,400 11,002 65 2,730 13,471 Total resowces expended 145.457 226,813 Net expendlture 16 924 113,307 This page does not forni part of the statutory f]nanGial ststements Page 22