TOWER HAMLETS FRIENDS AND NEIGHBOURS (a company limited by 8uarnntee) Company Number: 04657449 Reglstered Charlty number 1099403 improving lives THFN through befriending services TOWER HAMLETS FRIENDS AND NEIGHBOURS A Charltable Company Llmited by Guarantee. Annual Report Year ended 31 March 2024
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a uxnpany Ilmlted by guarantee) CONTENTS PAGE Reference and adminlstratIve details of the charity. its trustees and advisers Report from the Chalr Trustee< Report 5-15 Independent examinerfs report 16 Statement of financial actlvSties 17 Balante Sheet 18 Notes to the fEnancial statements 19-25 Our donor5 and supporters 26
TOWER HAMLEfs FRIENDS AND NEIGHBOURS {a company Ilmited by guarantee) REFERENCE AND ADMINisfRATIVE DETAILS OF THE CHARrrY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees.. Anne Worlledge (Chairl Carf Steventon (Deputy Chair) Stephen Robarts ITreasurerl Pam Kaur Gibbons (Resigned from 19 September 20241 Jennifer Skeels Louise Theophile Nycolle Deniz {Resigned from 6 June 2024) Jaber Khan Nancy Easton (Resigned from 19 September 2024) Christopher Bingham (Resigned April 2023) Registered and principal ¢)ffi St Margarevs House, 21 Old Ford Road. London E2 9PL Telephone 0203 (K57 9120 Email admin@thfri.org.uk Website www.thfn.org.uk Staff Chief Executive ". Chief Executive and Company Secretsry. Client seIces Administrator Befriending Advocates: Rita Chadha (from October 20231 Rajesh Kalhan (to October 2023) Clara Diondo Rose Curran (resigned from July 20241, Shirajul Islam, Breenda Lawrence. Shaleha Begum. Nina Mcloone (from December 2024) Bankers HSBC Bank plc Independent Examiner Gavin Purvis IFCCAI. Purvis Stevens LLP, Chartered Certified Accountants. Hayles Bridge Offices, 228 Mulgrave Road, Cheam, Surrey SM2 6Jr
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company limited by 8uarantee) DIREcfoRS' AND TRUSTEES, REpoKf FOR THE YEAR ENDED 31 MARCH 2024 Report from the Chalr In our Annual Report for the year to 31 March 20231 reported that securing 5UStainable funding in that year had been very difficult and challenging btrt that we had started this new financial year to 31 March 2024 wrth sufficient re5etves and secured funding forthe year. l am very ptea5ed to report that the cost cutting meastjres we put in place and eamest fundraisin8 have enabled us to continue to provide the same level of service to our clFents and community in this year and we remain hopeful for the year to 31 March 2025 and the following year. Without a doubt, funding for small charities suth as THFN remains challengin& but we feel confident that we are in a strong position to demonstrate the value and quality of the service we provide to our unique client 8roup. and to the community in Tower Hamlets. We were able to support 214 clients in the year to 31 March 2024 {240 in 20231. As a snapshot of the service provided. our stsff and volunteers had 2,015 face-to-face meetings with clients and 2,617 telephone meetings. All of this has only been possible due to the dedication of our staff and volunteers. Within the Servi we provide to the whoFe community we are fortunate in bein8 able to provide dedicated support to the ethnic population in Tower Hamlets through a seiCe to support older Bangladeshi residents, and we will be introducing a similar service in Jènuary 2025 forthe oldersomali community. Thankfully we were able to recruit an interim CEO. Rits Chadha. in September 2023. Rlta has been the cornerstone in guiding the chartty in the period to date, in ten5 of funding and in carrying out modernisation and transformation agenda. including improved client allocation and more focussed data collertion. More recentiy she hasworked with the trustee board to review the impact the service has for our clients. The review has confirnied that the service we provide continues to be needed, and that demand will grow as the population in Tower Hamlets a8e5 {the population of those over 55 is experted to 8row by 44% by 2031). In this coming year we will also focus on creating group sUPPOrt through activities and OLrtings and will continue to monr(or the needs of the population in Tower Hamlets and how best we can meet those needs. In July 2024 Rose Curran stepped down after almost 37 years with the chartty (she joined Lfs in November 19871. Rose has been a vital part of the staff team and will be greatly missed by everyone at THFN and by her Clien We recruited a new team member. Nina McLoone who started with us in December 2024. As always. on behalf of the trustees I thank all of our staff and volunteers- they are the heart and soul of THFN. Please follow us on social media or through our website Ithfn.or8.ukl and watch our progress, and if you would like to receNe a regular new51etter. please contact Rita Chadha on rita thfn.or .uk. ANNE WORLLEDGE Anne Worlledge- Chair of Trustees
TOWER HAMLET5 FRIENDS AND NEIGHBOURS (a company Ilmlted by 8uarantee) DIREcfoRS' AND TiiusfEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present the annual report together with the financial statements for the year ending 31 March 2024. The Tru5tee5 confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the companvs governln8 document and the provisions of the Ststement of Recommended Practio ISORPI applicable to charities preparing their accounts in accordance wtth the Hnancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021- (effective l January 20151 as amended by Update Bulletin I leffertive l January 20151. Since the companyqualifies as small undersertion 383 of the CornpaniesAct 21X)6, the strateglc report required of medium and large companies {Strateglc Report and Dlrettorfs Report Re8ulations 20131 is not requlred. Annual Impact Report omiin Bulldl Tower Hamlets Friends and Nei8hbours ITHFN) stand5 at the forefront of combating soclal Isolation and enhancin8 quality of life forthose over 55 in Tower Hamlets. Asa dynamlc voluntary or8anlsation, we leverage Innovative approaches and bespoke care to cate meanin8fv1 connectlons and deliver vltal support Serv1S. Through our integrated support network. we break down barrlers to independence, champlon mental wellbein& and foster lasting social connettions. Our evidence-based approach combines tradltional befriendin8 seThices with modern advocacy and support systems, ensurlng every cllent recelves bespoke support that adapts to their evolving needs. Our Ml Tower Hamlets FrndS and Neighbours Is dedicated to empowerin8 older adults to Ilve vlbrant, connected lives in our community. Through Innovattve arKI beswke support Sy5tsms, we create pathways to independence and wellbeing for isolated and vulnerable Individuals. Our mlssion Is dellvered through three key pillars: l. Buildlng M•aTrln6lul Connedlons We create transfom)atNe soclal connertrons that combat i501atlon and nurture lastln8 relationshlps. Through our extensive network of trained volunteer5 and professlonal stsff. we ensu no older member of our community fa$ life's challenges alone. 2. EmpowerfTri Independent U¥lng Our comprehenslve support framework enables older people to maintsin their autonomy and dignity- We combine emotional support wrth prattical assistsnce. helping navi8ate healthcare SyStem5. aCSS vital serv1, and manage daily challenges with confidentr.
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmlted by 8uarantee) 3. Fosterlng Active Enwment We curate dynamlc, inclusrve activities that stimulate both mind and body. Our Innovatple soclal activities create opportunitie5 for personal growth, cultural expression. and community participation, ensuring every older person can contribute to and benefit from an active community life. Voluntary Organisation Suppo Ower People In 2023-2024 The voluntary sector's role in supporting older people has never been more critical. By 2042, the number of people aged in the UK is projetted to increase by 43% to 17.4 million Ioffice for National Statistics, 2024). In Tower Hamlets alone. the population aged 65 and over is expected to 8row by 44% by 2031 (Tower Hamletsjoint Strdte8ic Needs Assessment, 20231. The Post-pandemlc Aftemwth While COVID-19 restriction5 lifted. thelr Impact lin8ered heavlly. Age UK reported that 1.2 mlllion older people in England are chronically lonely (Age UK, 2023). while 27% of people aged 6fitr say they speak to family, friends. or nei8hbour5 le55 than once a week (Campaign to End Loneline55. 20231, Our local dats reflect5 thls crisis. Wlth 95.2% of THFN clients experiencing depression. Voluntary organlsatlons faced unpr¢¢edented pressures: 83% of charities reported increased operdting costs due to Inflation INCVO. 2023) 55% of UK charltles dipped Into their reseTres to survive (Charity Commission, 20231 47% of small charltles reported serlou5 concern5 about their lon8-tern? sUrval (Small Charitle5 Coalitlon. 2023) In Tower Hamlets, where 39% of older people live in Income4eprived households (London Poverty Profile, 2023), the demand for servi$ continues to rise while resources diminlsh. Complex Care Needs The profile of older people needing support became increasingty complex: One In ffve people aged 75+ Ilve with two or rn0 chronlc conditions {NHS Dl8ital. 20231 Dementia cases are projected to rise by 75% in Tower Hamlets by 2030 (Tower Hamlets Health and Wellbeing Strategy. 2023) 42% of people aged 754 in London have a mob511ty Impairment (G 20231 System Na¥l8atlon Challenys The fragmentation of servlces ha5 created significant barriers: 78% of older people report difficulty navigating health and social care systems {A8e UK, 20231 2.2 million older people in the UK have unmet (are needs (The fing5 Fund, 2023)
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmlted by guarantee) 45% of over-65s in Tower Hamlets live alone (Tower Hamlets Council Demographics, 2023) Soclal Care Crlsis Impact The crisis in social care has reached crrtical levels: 506,CI)O people are waitln8 for adutt soclal care as5essrnents nationally IADASS, 2023) £3.5 billion funding 8ap identffied in adult social care (Local Government Association, 20231 165,LX(I vacant Posts in adult social care acr0$5 England (Skills for Care. 20231 Demographlc Shlfts The chan8ing demographlc landscape presents new challen8es: By 2025, more than 25% of Tower Hamlets, older populatbn will be from ethnic minorlty backgrounds {GLA Demographic Projections. 2023} 47% of over-755 in the UK are digitally excluded (Lloyds Bank Di8ital Index. 2023) 3.8 million older people In the UK live alone Iofflce for Natlonal Ststistics, 2023) Workforce Pressuros The voluntary sector workforce faces si8nlflcant challenges: 77% of UK charvties report difficulties in volunteer recruitment INCVO Clvil Society Almanac, 20231 68% of voluntary organizations report Increased tralnin8 needs due to complex cases (Charity Skllls Report, 20231 Volunteer numbèrs In London declined by 25% post-pandemlc (London Plus, 20231 In 2023 we $tructured the or8an15atlon to meet our flnanclal circumstsnces, sadly we lost our full-time Chlef Executfve Rajesh Khalan. Rrta Chadha Jolrd us in September 2023 to steer the organisatK+n through a modernisation and transfomatlon a8enda. In 2023 we also reglstered to becomè a London Llvins Wa8e Employer Flnanclal Sustslnablllty Or8anisations face mounting financial pressures: 40% of charlties reported a deteriorating finandal position (Pro Bono Economics. 20231 Small charitle5 saw a 20% detrease in UnstrICted fundin8 (Small Charities Data Hub. 20231 82% ofvoluntsry or8anizatlons report increased costs due to Inflation INCVO, 20241 The Future La The sector faces growing demands: The number of people aged 85+ in the UK is set to double by 2Ck13 IONS. 2023} 75% of older people in Tower Hamlets will neÈd some fomi of care sUPPOrt by 2030 (Tower Hamlets Adult Social Care Strategy. 20231
TOWER HAMLEfs FRIENDS AND NEIGHBOURS {a company limlted by guarantee) Demand for Voluntary sector serrfices is projected to increase by 50% by 2025 Ictvil Society Futures, 2023) The challenges faced by voluntary organisations supporting older people in 2023-2024 reflect broader societal issues in agin8 and social care. With l in 5 people in the UK pro'ected to be over 65 by 2030 IONS, 20231, the role of voluntary organisations becomes increasingly crucial in supporting our aging population. The Challen e We Address Loneliness and social isolation present significant health risks in Tower Hamlets, where= A higher proportion of older ople live alone compared to the national average An estimated 16% of older residents experience chronic loneliness Social isolation impacts are comparable to smoking and exceed obesity's health effects The borough faS unique challenges wtth higher rotes of poverty and diverse ethnic pulatlons Our Im act In Numbers 202>2024 Cllent Demogrnphks Total clients supported: 214 New referral5: Average client age.. 79 years Gender distribution: 60% female. 40% male Oldest client- 100 years Health and Wellbeing Support Our clients face complex health challenges= Depression- 139 clients195.2%) Multiple chronic condition5." ILK) clients168.5%} Diagnosed dementia= 36 clients124.7%) Addttional memory issueslundiagnosed dementia: 19 clients Mobilitv iggues: 45% of clients Housebound ststus: Over 71YA of clients SeThI Dellvery We provided comprehenswe support through: 2,617 phone calls 2,015 face-to-ts(¢ Vi5its/a5ses5ments
TOWER HAMLEfs FRIENDS AND NEIGHBOURS la company limited by guarantee) 1,804 VlIbeIng artr4Ftles 1,276 reminiscen sessions 224 advocacy support incidents 138 escort seprfices 117 food/prescription delp4erie5 Cultural Competency We serve a diverse communty: White UK: 106 clients149.5%1 Asian Bangladeshl.- 48 clients123%1 81ack African: 24 clients111.2%1 White European.. 16 clients17.5%1 Other ethnlttties.. 18 clients18.4%) Lfvlng Sltuatlons Llvlng alone: 110 client$151.4%) Livin8 wlth famlly/partner: 86 clients {40.2%1 In sheltered accommodatton". 18 cllents18.4%) Servlc• Inte8ratlon and Referral Pathways Our strong partnerships are reflected In our referral sources: l. Adult Social Sepiices: % referrals {44.9%1 2. Hospitals & Memory Clinic." 50 referrnls {23.4%1 3. Communlty health teams: 34 ferraI$ll5.9%) 4. Healthcare providers (GPs/Social PscrIbe)." 17 referrals {7.9%) 5. Speclallst organisations and self-referrals: 17 referrals17.9%1 Volunteer lrnpart Our seice in 2023-24 was supported by 27 dedicated volunteers: 12 actfve volunteers 15 inactive voluntee 9 volunteers left during the perro(I 8 were on temporary leave {4 due to bereavemenL 4 on sicvmatemity leave)
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a c(xnpany Ilmlted by guaranteel Key Achievements l. Comprehenslve Support DelIved over 6.4(X) cllent interattions through calls. visits, and activities 2. Mentsl Health Focus: Supported 139 clients wrth depression. providing crucial emotional support 3. Dementia Care: Supported 36 diagnosed dementia clients. with additional support forthose with memory issues 4. Social Integratlon.. Facilitated 427 group activities and outings Looki Forward Responding to Communlty Needs. Delivering Sustainable Impart Drawing on almost 80 years of cornmunity Servi and robust data from supporting 214 vulnerable older adult5 in 2023-24, THFN has identified key strdtegic priorities to enhan our Service delivery and community impact. Priority Areas for Investmert Innovation in SeThice Delry Developing scalable support models beyond tradrtional befriending Implementing evidence-based digttal inclusion initiatives using Al Creating sustainable group support pro8rnmmes to maximise impatt Measurin8 Outcomes through enhanced monitoring systems Professlonal Development & Expertise Strengthenin8 stsff expertise in". Fomialise an approach to including MO lived experience in the govemance and management of the organisation. including becoming an Aee Friendty Employer Dementia and age-related conditions Complex welfare benefrts navigation Housing ri8hts advocacy Health and social care legislation Mpntal health support Supporting family reconnertion through ethical Buidance and advocacy. particularly in cases of estran8ed relationship5 and complex family dynamics Cultural Corn & Induslon Expanding culturèlly adapted sUPPOrt services. especially for older men and members of the Somali community Developing targeted outreach to untlerserved communities Creating inclusive programming for diverse elder wpulations io
TOWER HAMLET5 FRIENDS AND NEIGHBOURS (a company limlted by guarantee) Building partnerships with cuttural community ooanisations Mentsl Health & Dementia Support Enhancing early intervention capabiltties Strengthening partnerships with memory setvices Developing innovative cognitive support prograrnmes Supporting families through diagnostic pathways Volunteer Excellence Prozrdmme Recruiting more volunteers Implementing a new comprehensive volunteertraining Developing specialist roles for skilled volunteers, including opportunities for micro volunteering Creating sustslnable volunteer retention Strategies Buildin8 volunteer leadership capacity Systerns Change & Advoca Creating and Age Friendly Tower Hamlets Challenging age-based discrimination in public services Advocating for improved service accessibility Contributin8 to policy development Building strategic partnerships for systemic change Impatt Measurernent Reviewing and enhancing our monttoring framework so we can track Client wellbeing improvements using the Rockwood Frailty and Wanvick and Edinburgh Scales in particular. Service accessibility metrics Volunteer engagement and retention System navigation suc5$e5 Cultural competency outcomes Obtain the Befriending Network Kitemark Award Achieve Trusted Charity accreditation Tiirough strategic investment in these priority areas. THFN will strengthen its position as a leadlng provider of 5UPPOrt seNlces for older people. delivering mea5urabte impact and sustainable communitychange. li
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company limlted by guarantee) DIRECTORS, AND TRusfEES' REPORT FOR ThE YEAR ENDED 31 MARCH 2024 Financial Review The fundraising environment remalned challenging in the yearto 31 March 2024 as a number of multi- year grants that rolled off in the previous financial year We difficult to replace and reserve5 we used to cover the funding shortfall. Our income forthe year was £159,923. compared to £128,238 in the prevK)us yearand our costs were below the previous year. £189.154 for the year to 31 March 2024 and £207,308 for the prevlous year. This resulted in a deficit for the year of £29,231 and a reduction In our SerVeS to £72,971 from £102.202. We closed the year with a bank balance of £81,731 {£161.351 In 20231 and no deferred fundlng. although we've slnce been awarded several one-off and multi-yeargrants that hève bolstered our financial p051tion in the near terni. The impart of the economk challen8es that the or8anisation faced in the years ended 31 March 2023 and 2024 have stsbilised followlng the measures that were tsken to reduce costs, but risks remaln. The trustees stuck to Its decision to maintain the level of service to our tlients. especially those who are vulnerable and isolated. whilst concentrating on approaching as many organisations as possible for renewed fund[a. We have not replaced the vacant post of OperatSons Manager and have kept the CEO post to 3 days per week following the appointment of our interim CEO. We cannot thank our staff enou8h for the commitment they have glven to us durln8 thls difficult time. We have recently Secured renewed fundln8 of £27.1XM) perannum for 3 years from merrS alongside several one-off grants Includlng £39,4LKJ from Islamic Relief. As a result. we've almost met our fundln8 target for the year ended 31 March 2025 and are makin8 pro8ress in the followlng year. However, due to the lack of multl-year grants, our fundlng position in the medium temi remains a challen8e. Reserves Polkv The Board of Trustees has examined the or8anlsatron's requirements for serIeS In the li8ht of the maln risks to the organisatlon. Alongside the fundin8 issues identffied above, it has borne in mind the support nèeds of our client group who a particularly vulnerable, and the time needed to find and arrange alternative way5 to address these needs in the event of the cessation of activities. It has therefore established a policy whereby unrestricted fund5, not committed or invested in tangible fixed as5et5, held by the charlty should be six months of expenditure. This also acknowled8es the financlal risks and contractual obligations a550ciated with the employment of staff and contractual requirements relating to premises. The policy is reviewed annually. At 31 Marth 2024 the charity had reserves of £72.971, and the budget for the year to 31 March 2025 was £156,OLKJ, therefore representin8 a marginal shortfall to our reserves target. Golng concem After making appropriate enquiries. the trustee5 have a reasonable expertation that the charity has adequate resources to continue in operational existence for the foreseeable future. For thls reason, the trustees continue to adopt the going concern basis in preparing the financial statements. 12
TOWER HAMLETS FRIENDS AND NEIGHBOUR5 (a company limited by guarantee) Strurturep governance and management Govemlng Document The organisation is a charttable company limrted by guarantee and is also a giStered charity. The company was established by a Memorandum ofAssociation which established the objetts and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Recrultment and Appointment of Board of Tn The dirertors of the company are also chartty tnjstees for the purposes of charity law and under the companfs Articles are known as the Board of Trustee5. At each Annual General Meeting one third of the members of the Board of Trustees both elected and co-opted shall retlre but all are eligible for re- election. Those longest in office Sin co-option or elertion shall retire first. In the case of an equal period of Service in default of agreement those to be retired shall be selected by lot. At an Annual General Meeting the Board of Trustees may elert of its members as Chair and as Treasurer, each to serve for an initial period of three year5. At the Annual General Meeting marking the end of his/her first three years in office the Chair andlor the Treasurer shall retire from office, but each is eligible for re-election for a further three- year per. A Chair or Treasurer shall nomialty retire from office after a six- year period in office. The Board of Tnjstees seeks to ensure that the charitys client group and the ethnic diversty of Tower Hamlets are appropriately reftected on the Board. It also tries to ensure a good rnix of skills from the busine55. social and health care and voluntary sectors. The Board regularly carries out a skills audit and ha5 an ongoing policy of identFfying suttable potential Board members who can be approached to offer themselves for election to the Board as and when required. During the year to 31 March 2024, the of our trustees stood down and no new trustees have been appointed. New trustees receive a trustee handtrrt)ok and would normally attend an induttion day which includes visiting clients with a Befriender as well as meetings with the Chair and Chief Executive. Organisational Strurture The organisation has a Board of Trustees of not less than five and not more than twefve wrsons (currently 61, elected by the members of the Company at the Annual General Meeting. and not more than three additional cwpted members. The Company Secretary, who is also the Chief Executive of the organisation. attends Board meetings but has no voting rights. The Board of Trustees has overall responsibility for the strategic direction, policyand human and financial resources of the or8anisation. It meets at least four times a year. Day to day operational management of the organisation 15 delegated by the Board of Trustees to the Chief Executive, who is responsible for ensuring that the organi5ation delivers the services specified through its team of staff. Rlsk Management The Board of Trustees has reviewed the major risk5 to which the organisation is exposed and developed a risk matrix which is reviewed regularlyat Board meeting. Internal and external risks have been identified and action taken to mitigate these to best ensure that the charity is able to Cdrry out its purposes as securely and efficiently as possible. All procedures ère VieWed on an ongoing basis to safeguard the charitws asset5. to ensure the health and safety of staff. volunteers, clients and visitors in the offices and in clients, homes. and in relation to data protection and confidentiality- 13
TOWER HAMLETS FRIENDS AND NEIGHBOURS (a company Ilmited by guarantee) Fundratsln8 poliry We have not made any appeals orsolicited funding from the Eeneral public in year. We do not use any professional fund-raisers to carry out any activities on our behalf. Through our webstte we have an ongoing request for fvnds, and have provided a link via Local Givin& for indNTrduals to support us but funds from this source are very limtted. We are aware of the Fundralslng Regulatorfs Code of Fundraising Prartice and will not put undue pressure or unreasonably intrude on anyone to make a 8ift. Any appeals we make in the future for donors will be developed with respect to our current and potentlal donors as well as for the people we are here to support. We have not received any fundraislng complaints from our dorK)rs. Public Benefft The trustees have glven due consideration to the Charity Commissk+n'5 publlshed guidance on the Public Benefrt requirements under the Charlties Act 2011. 14
TOWER HAMLEf5 FIUEND5 AND NEIGHBOURS (a company lirnlted by guarantee) DIREcfoRS' AND TRusfEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trustees, responsibilities in relation tothe financial statem The charity trustees (who are also d1CtorS of Tower Hamlets Friends and Neighbours for the purposes of company lawl are responsible for preparing a trustee5' annual report and financial statements in accordan with the applicable law United Kingdom kcounting Standards Iunited Kingdom Generally Accepted Accounting Pratticel. Company law requires the board of trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure for that period. In preparing the financial statements. the trustee5 are required to: select suitable accounting policie5 and apply them consi5tentty. observe the methods and principles in the Chartties SORP. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial Statements on a 80ing COnM basis unless tt is inappropriate to presume that the charTrty will continue in operation The trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy at any time the financial position of the charty and to enable it to ensure the financial staternents comply with the Companies Att 2(K16. They are also responsible for safeguarding the assets of the charÈty and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularities. Approved by the Board of Trustees of Tower Hamlets Friends and Nerghbours and signed on Its behalf by: ANNE WORLLEDGE CARL 5fEVENTON Anne Worlledge Carl Steventon (Dirertor and Trustee) (Direttor and Trustee) 20 December 2024 20 Decernber 2024 15
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company limited by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I rèport on the actounts of the company for the year ended 31 March 2024. which arè Set out on pagè5 17to 25. ReSp•rte r•sponsibilrlles oltru5tees •nd examlntr The trustees Iwho are a150 the dirertors of the company for the purposes of Company lawl are responsible for the preparation of the accotsnts. The twstees tonyder that an audit is not required for this year under settion 144121 of the Charities Act 2011 Ith• 2011 Attl and that an Independent examination Ys needed. Havin8 satisfied rny5elf that the chartty is not subject to audit under company lawand is eligible for independent examlnation, it Is my responsibility to: Èxamine the accounts yndtr sertlon 145 of the 2011 Att: to follow the procedures laid down in the general Olrertions gfven by the Charlty Commi55ion under sectlon 1451511bl of the 2011 Act.. and to State whether particular matters havè come to my attention. Basls of Independent examlnees report My examinatlon wa5 caliled out In accordance with the general Directlons 8lven by the Charlty Comm1s55on. An examihatlon Include5 a revltw of the accountlng records kept by the charity and a comparison of the accounts presented with those records. It also Indudes conslderatlon of any unusual Itèms or dlsclosure5 in the accounts and seeklng explanations from you as tfuslees concernin8 any such rnatters. The procedures undertaken do not provlde all the evidence that would be requlred in an audit and ¢onsequentty no opinion is Niven as to whether the accounts present a 'true and fair VI¢ and the report is Ilmlted to thosè matter$ Set out In the statement below. Ind¥p•nd¢nt Qxamlnerfs st•tement In tonnertion w4th rny examlnatlon, no matter has come to my attention.. 111 whlch 8lves me reasonable tause to belleve that In any material respect the requlrèments.. to keep accovntin8 records In accordance wlrh section 386 of the Companles Art 2006,. and to prepare account5 whlch accord with the accounting records. and tomply with the accounting requirements of sertion 396 of the Companies Art 2r and with the method5 and principles oftht ststemènt of Recommended Pract1.. Accountrn8 and Reporting by Charitles have not been met,. or 121 to which, in my opinion, attentlon should be drawn in ordtr to enable a proper understandin8 of the accounts to be reached. Gavln PurvSs IFCCAI, Chartered Certlfted Accountant 20 December 2024 Purvis Stevens LLP. Hayles Bridge Offices. 228 Mul8rave Road. Chearn, Surrey SM2 6 16
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmited by guarantee) StATEMENT OF ANANaAL AcnvmES FOR THE YEAR ENDED 31 MARCH 2024 Funds Fvnds Tot•1 2024 Total 2025 Income: Donations Income from d)arltable a¢tlvblle5 Investment Income Total IAfom• 6.375 122.691 29.167 129, 29,187 77,740 50.c¥)O 498 128,238 151.858 159.923 Expendltur¢". Costs of ralslng funds Expendlture on charltable activitlès-. 18.443 21, 34,524 8efrlendln8 servl¢es 133.416 167.948 172,784 Tot1 •xp•ndltur• 37. 151.858 189,154 207,308 N•t In¢omelExpndltur•l and bmt movgm•nt In funds for th• y••r. Reconclllatlon of funds Total funds brou8ht forward T•i•l funih rrI forwanl 14115 129.231) 129.231) 179.0701 102.202 72.971 102.202 n,971 181,272 102,202 Statement of Flnantial Artivltles also complies with the reqU1MentS for an Income and expenditure account under the Companies Act 2[.3 Contlnuln8 Operlo None of the compan5 actlvltles were acquired or discontinued during the ab)ve two flnandal periods. The notes on pa8es 19-25 form part of these financial ststements. 17
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a Company limited by guarantee) BALANCE SHEEfAS AT 31 MARCH 2024 2023 Tangible fixed assets Total Fixed Assets io Current assets Debtors Cash at bankand in hand Total ¢urrent a$s•ts li 12 1,216 161,351 162,567 81,731 81,731 Uabllltles Creditors due within one year Net current assets 13 18.760) 72.971 160,3651 102,202 Total assets, less ¢urr•nt Ilabllltlos 72.971 102.202 Net assets 72,971 102,202 The funds of the charlty Unrestricted Income funds Restricted income funds Total funds 14 72,971 102,202 72,971 102,202 The notes on pages 19-25 form part of these financlal statements. For the yeor endlnL7 31 Mordj 2024 the compqny was entitled to exemptlonfvm oudlt undersertion 477 of the ComponieSA¢t2ik relotinq to smallcompanie& Dlrector5'responsibilitses.- the members hove not requlred the mpony to obtaln on oudit of its occountsfor the yet7rln questlon In o¢cordance with sertion 476, the directors ocknowledqe theirresponsibilitiesforcomplylna wlth the requirements of the Art with respert to accounting records ond the preporotion of occounts, these accounts have been preporedin accordonce with theprowsions 17pplkoble to compan$ subject to the5mal1componies'regi. Approved by the Dirertors on 20 December 2024 ANNE WORLLEDGE CARL sfEVEKfoN Anne Worlledge- Director and Trustee Carl Steventon- D1clOr and Trustee
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmited by 8uarantee) NOTES TO THE AccouKrs FOR ThE YEAR ENDED 31 MARCH 2024 l. A¢eountin8 poll¢ies The principal accounting policies adopted are summarTSed below. The accounting policies have been applied con5iStentty thrOu8h0 the year and In the precedin8 year. a. 80515 of octounting The financial statements have been prepared under the hlstorlcal cost conventlon. The financial statements have been prepared in accordance with Accountin8 and Reporting by Charities Statement of Recommended Prartice and in accordance with Flnancial Reportin8 Standard 102, the Financial Reportlng Stsndard applrcable in the UK and Republic of Ireland. and the Companies Act 2006. Tower Hamlets Friends and Neighbours meets the definition of a publlc benefit entity under FRS 102. Assets and Ilabilities are recognised at historical c05t, or transactlon value. unless otherwise stated in the relevant accountin8 poliw notes. b. Fund occounting Unrestricted funds are avallable for use at the diSCtIon of the trustees In furtherance of the general objertNes of the charlty. Restrlrted funds are Subject to the restrlctlon on thelr expendlture Imposed by the donor or through the terms of an appeal. . Income All Incomln8 resource$ are reco8nised when the charlty has entltlement to the funds. any performance condltions attached have been met. it is probable that the Income wlll be received and the amount can be measured rellablv. d. Donoted services ondfacilitie5 Donated services and facilities a included at the value to the charlty when the charity has control over the item, any conditions associated with the donated item have been met. the economic benefrt to the charity 15 probable and the economlc beneflt can be reliably measured. On receipt, donated professional ser¥kes and facilities are 08nIsed on the basis of the value of the gift to the charty which is the amount the charlty would have been willing to pay to obtaln the services or facilities in the open marketr a correspondin8 amount is then recognised in expenditure in the period of receipL In accordance with the Charities SORP FRS 102. the general volunteer time provided by volunteers has not been recognlsed and refer to the trusteeg annual pOrt for more infomiation about their contribution. 19
TOWER HAMLETS FRIENDS AND NEIGHBOURS (a company Ilmited by guardnteel e. Interestreceivable Investment income is included when receivable and the amount can be lIab rneasud by the charity,. this is nomially upon notlfKation by the bank. f. Expenditure Expenditure Is COgnISed once there is a legal or constructive obligatlon to make a payment to third party, it is probable that settlement will be qUired and the amount of the obligation can be measured reliably. Expendlture is classified under the following activity headin8S: Costs of rai5in8 funds comprise those costs incurred in seeklns voluntsry income, including Staff tlme. Expendlture on charitable artivities comprises those costs incurred by the charlty In the delivery of its artlvities and services for its beneficiaries. It includes both costs that can be allocated directly to such attivities and those costs of an indirect nature necessary to support them. Other expendlture represents those Items not falling into any other headlng. All expenditure is inclusive of irrecoverable VAT. g. Allocotlon of sUPPOrt costs Support costs are those functions that a5SiSt the vffjrk of the charity but do not d1Cl undertake charltable actlvitles. Support costs are allocated between the expendlture categories on a basis degned to reflect the use of the SoUrCe. Costs relatlng to a particular activity are allocated d5CtlY. whlle others are apportK)ned on an appropriate basls e.8. estimated staff tlme or usa8e as set out in Note 5. h. Tanqlble Fixed a55ets Flxed a55ets are stated at cost less accumulated depredatlon. Depreciation is provided at the rate calculated to wrlte off the cost of each asset over its useful economlc life. The fixed assets are mainly computer equipment, and these assets are depreciated over three years on a stralght-llne basis. Equlpment, Includlng computers and software. costing less than per indNidual item are not capltalised and a charged to expendlture In the year of purchase. No assets were held by THFN as a custodian. Debtors Debtors are recognised at the settlement amount. Prepayments a valued at the amount prepaid. Creditors ondprovisions Credltors and provision5 are recognised where the charity has a present obligatlon resultin8 from a past event that will probably result in a transferof funds to a third party and the amount due can be rneasud or estimated reliably. k. Finoncial in5tniments The charlty only has financial ats and financial liabilities of a klnd that qualify a5 baslc financial instruments. Basic financial Instruments are initialty recognised at transaction value ond subsequently measured at their settlement value. 20
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company limlted by 8uaranteel 2 Donations and le8acies All of the charitys voluntsry income *05 reIved in the forrn of grants and donations. While the charity CeNeS a small portion of this income In the fonn of un501icited donations. it generates much the greater part by application to charrtable trusts and statutory bodles. 3 Income from charTtaWe artivlties The charity was in receipt of income from certain perfonnance lated 8rants ancillary to the delivery of its charitable actlvlties. Income from charitsble actrvities comprises a grant from the London Borough ofTower Hamlets {2024: £39.584; 2023: £50,c(oI. 4 Investment Income 2023 Income from investments Bank interest 1.691 1.691 1,691 1,691 498 498 21
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company limlted by guarantee) 5 Totsl resources expended: BendIng Services 2024 Cost oAm151nqfvnds Staff costs Sundry costs 18,443 19,706 1.500 21,206 25,184 654 25,838 2.762 18.443 Cost oJtharttable ortNkles Staff costs Transport and travel Outings with dlents Telephone Postage and stationery Recruitment costs Marketln8 Training Support msts allocated to arltqble artl¥rftks General support.. Staff costs Premises Insurance Sundry expenses Computer support IT and systems upgrade Payroll costs Governonce cost. Independent examiners fee Other 8overnance costs 7,578 1,483 2.285 3,152 110.732 118.310 1,483 2,285 3,152 602 123.811 1,695 4.609 543 858 680 24,235 9,823 707 218 3,360 26,443 10,362 639 604 3.983 9,823 707 218 2,1(KJ 2.100 2,049 1,500 174 167,948 1,500 511 181,471 174 34.534 133.415 Total expendlture 37,296 1.858 ,154 207.308 6 Net in¢ome forthe year 2024 Z023 This is ststed after tharging: Independent Examinerf5 fee 1,500 22
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmited by guarantee) 2023 Salaries and wa8e5 National Insuran contrlbutlons Pension costs 121.508 33.214 7,529 162,251 126.842 37,487 11,108 175.437 No employee received employee benefits lexcludlng employer pension contributions) of more than £60,(XXI12023: one employee receNed more than £60,CIXII. The tnjstees were not pald. or received. any benefits from empboyment with the charity or relmbursed for expenses during the year12023= nil). The employee benefits of the key management personnel of the charity were £65,685 12023: £88,110). The avera8e number employees {and full-time equivalentl, analysed by function was.. 2023 Fui thme Full tlm• A¥er4¢e Avern Equl¥•beni Management Servlce delivery 8 Taxatlon As a charity. Tower Hamlets Frlends and Nelghbours Is exempt from tax on Income and 8ains falllng withln Section 505 of the Taxes Act 1988 or Settion 256 of the Taxatlon of Chargeable Gain5 Act 1992 to the extent that these are applied to Its charltsble objects. No tsx char8e has arisen within the charity. 9 Related party traThsa¢tlo Tower Hamlets Friends and Neighbours rents its office premises from St. Margareys House- a charity which provides office accommodation to local community organisations and charities. Anthony Hardie la trustee of THFNI is a Director and Chief Executlve of St Margareys House. Our accommodation payments for the year to 31 March 2024 were £9,82312023.. £10.362). 23
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmited by guarantee) 10 Ta[ble fixed assets 2024 2023 Fixtures and offke equlpment Cost at l April 2023 Additions Cost at 31 March 2024 925 925 925 925 Depredation As at l Aprll 2023 Char8e for the year As at 31 March 2024 925 925 925 925 Net book value: At 31 March 2023 At 31 March 2024 11 Debtors 20 Other debtors Prepayments 1.216 1,216 12 Cash and cash equlvalents 2024 2023 Cash In hand 81,731 81,731 161,351 161,351 13 Credltors: amounts fall1 due wlthln one year 2023 Deferred income Taxation and social security costs Holiday pay Accruals 47,824 3,331 6.594 2,615 60,365 1.639 3,800 3,321 8,760 24
TOWER HAMLEfs FRIENDS AND NEIGHBOURS (a company Ilmlted by Euarantee) Deferred income represents grants attributable to the following accounting period. 2024 Balance at l April Amount released to income Amount deferred in the year Balance at 31 March 47,824 (47,824) {7,5001 47,824 47.824 10) 14 Movement in unrestrFCted fvnds Generdl Fund 2024 2023 Balance at l April 2023 Incoming resources Resources expended Funds at31 March 2024 102,202 8.15 (37,296) 72.971 181,272 8,758 {87,8281 102.202 15 Movernent In resirkted Income m0ment in Restrirted Income 31 March a714 Garfield Weston Foundation Clarion City Bridge Trust City Bridge Trust lone-offj LBTH Charles Hayward Charles S Frenth Drapers Robert McAlpin Coopers Charvty Wakefield and FT WG Edwards Anne Rylands L8TH Mayors Award 15.CO) {15.C( {10.(MXJ) {41,810) (3.814) (29.16n 14.LKK)) {5,CWI (10.COJI I10.(K)I {750) (8,CKX)) {1,41Y)) (2.7) (10.41n I151.} 39.4 10) 3.814 29.167 10.IX 10,(ti) 750 25CI) 10.417 104.1>34 47,824 101
TOWER HAMLETS FRIENDS AND NEIGHBOURS (a company Ilmited by guarantee) Funders and supporters The Trustees and the staff of Tower Hamlets Friends and Neighbours would like to thank all of those charitable foundations and organisatbons. and people. who make our work possible. Without your support. we would not be able to do the work that we do. to SUPPOrt the elderly and vulneTrble residents of Tower Hamlets. Thank you also to our excellent staff, volunteers and community Partners - all working with skill, dedication and passion to improve people's Itves - and to our partners in health. social care, and commissioners in our l(Kal authority. Finally, our biggestthankyou is to ourclients. the reason THFN exists, and who make ourjobs fvlfilling. Thank you. City Bridge Trust London Borough of Tower Hamlets Drapers Charitable Fund The Robert McAlpine Foundation Garfield Weston Foundation Clarion Housing Charles Hayward Foundation Charles S French Charitable Trust Worshipful Company of Coopers Wakefield and Tetley Trust WG Edwards Charitable Foundation Anne Rylands Fund/ Sir Jules Thorne Trust 26