Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) A Company limited by guarantee not having a share capital and a registered charity TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) CONTENTS Legal and Administrative Information Trustees, Report Independent Auditor's Report 16 Statement of Financial Activities 19 Balance Sheet 20 Statement of Cashflows 21 Notes on the Financial Activities 22
Hibiscus LEGAL AND ADMINISTRATIVE INFORMATION Trustees Therese Prince (Chair, appointed 20.05.24] Fanana Alam (Finance Lead, appointed 16.09.24) Rosalyn Akar Grams (Co-chair, from 30.05.23-20.05.24) Annette Man Kwan So(Co-chair, from 30.05.23-27.11.23] Anne Noreen Langton (Co-chair, from 27.11.23-20.05.24) Michael Greenwood (Treasurer, resigned 30.09.24) Laila Aziz (appointed 05.02.24) Lara Fatah (appointed 16.09.24) Sara Khan (resigned 05.02.24] Elanor Lee (appointed 16.09.24) Roselin Mgbezeh (professionally known as Roz Morrison) Louise Swan Klara Skrivankova Lutendo Wigman (appointed 16.09.24) Rachel Youngman (resigned 30.05.23] Chief Executive Baljit Banga (appointed 02.10.23J Kate Shurety (Interim CEO from 27.10.22 to 02.10.23J Marchu Belete (resigned 02.06.23) Secretary Mufeedah Bustin Charity number Company number 01104094 04533442 Principal address and registered office 356 Holloway Road London N7 6PA Auditors Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton KT6 7AL 3of32
Hibiscus TRUSTEES, REPORT The Trustees present their Report and Financial Statements for the year ended 31 March 2024. The Trustees have adopted the provi5ion5 of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" Charities Act 2011, Companies Act 2006 and UK GenerallyAccepted Accounting Practice. In preparing this report, the Trustees have taken advantage of the small company's exemptions provided by Section 415A of the Companies Act 2006. Objectives The key charity objectives of Hibiscus Initiatives, hereinafter referred to as Hibiscus, are to: relieve the poverty and the emotional, practical, social, and legal needs of persons, in particular but without limitation women, especially those, who have been affected by criminal and social justice issues; advance public education about such persons" undertake any other charitable objective. Our Vision To build a fair and just society where inequalities are eliminated from the criminal justice and immigration systems. Our Mission Hibiscus enables Black and minoritised migrant women interacting with the immigration and justice systems to rebuild their lives. Our mission is to: provide advocacy, support and specialist services to Black and minoritised migrant women enable informed choices promote social justice and respect support positive relationships, health and mental wellbeing reduce inequalities prioritise the importance of being a proactively anti-racist organisation with an anti-racism strategy influence change to make the criminal justice and immigration systems fairer Our Values Integrity: To be pro-active in our intentions, for our work and actions to reflect the values we hold as an organisation. Respect: To respect our colleagues, stakeholders, and the women and families we support. Even when we disagree, to see each other as full human beings, with struggles and dreams. Learning & Innovation: To be curious. To invest in our staff to develop and grow. To find new and innovative ways of supporting migrant women to rebuild their lives. To reflect honestly when things haven't gone right. Inclusive: To centre those with lived experience throughout what we do. Being an ally, co-producing services, research and articles. To be inclusive in a meaningful way, to support our clients to be part of Hibiscus as employees and trustees. 4of32
Hibiscus TRUSTEES, REPORT Activities Hibiscus is the UK'S leading organisation working with Black, minoritised and migrant women and their families, at the intersection of the immigration and Criminal Justice System (CJSI. Following the instigation of our five-year 2023-2028 strategy, and in parallel with Hibiscus, contract with the Home Office ending, our work supporting men in detention came to an end during the financial year. We are now a women-only organisation. As a result of the changes to our activities, we have restructured our service delivery teams and our principal activities fall into the following strands: Community and Women's Centre Specialist advocacy and advice services to women in the community Safe homes housing project Courts advocacy service Criminal Justice and Detention Services Specialist advocacy and advice services to women in prisons WrapAround and through-the-gate support Specialist welfare support to women in detention Specialist support to families facing forced removal Policy and Public Affairs Influencing of policy and public perception Working to end the intersectional discrimination that Black and minoritised migrant women experience in the Criminal Justice System o An alternative approach to 'Cultural Mediation, Violence Against Women and Girls work Anti-Trafficking influencing work Heritage Project As reflected in all the strands, Hibiscus exists to provide advocacy, advice, support and specialist services to empower service users to enable informed choices and positive change. Support takes many forms and can include: help to acce55 trauma-informed support including legal advice/representation' support with family related issues. social services" housing. mental health and well-being" education and training. and help settling into the community. An element of our work that runs through all strands is to research, communicate and raise awareness of the issues faced by our clients, with a view to influencing policymakers. TheTrustees, in making decisions about the activities, have had due regard to the Charitycomrnission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. All activities are considered by the Trustees to be in the public benefit. All of our funders require ongoing and end of project reports and have been Satisfied that the outcome requirements have been met or exceeded. 5of32
Hibiscus TRUSTEES, REPORT Achievements and Performance Community & Women's Centre CommunityTeam Our community team provides specialist, trauma-informed support to Black and minoritised migrant women affected by the criminal justice system, immigration restrictions and/or survivors of trafficking, across the Greater London area. Funding for the team came from a number of sources including Esmée Fairbairn Foundation, the National Lottery Reaching Communities Fund, Bell Foundation, The Forrester Family Foundation, and The Oak Foundation. In total over the course of the year we sUPPOrted 176 women with individual casework, advice and advocacy. The most common areas of need were for immigration and legal support {108 women)" accommodation (98}. finance, benefits and debt (98) and mental health (781 or physical health (651. We continue to see a heightened level of need from women accessing casework support, with continued delays to immigration decisions, tribunals, and criminal justice proceedings, and consequent impact on women's practical situations, mental and emotional health. Recent legislation including the Nationality and Borders Act and Illegal Migration Act, and ongoing hostile rhetoric from the UK government surrounding migrants is resulting in many vulnerable women being left unprotected and their right to asylum and National Referral Mechanism (NRMI applications under threat. Lack of suitable housing, financial destitution made worse by the rising cost of living, difficulties accessing legal support and mental health treatment are all key areas of concern. Alongside our casework services we deliver a comprehensive programme of group and l-l atttvities at our North London Women's Centre, focusing on three overlapping strands of practical support, wellbeing and empowerment and agency. Highlights included special events for Refugee Week. Black History Month, summer trips to Kew Gardens and the V&A museum, and the end-of-year client Christmas party. Partnership working is an essential element of the Women's Centre, and we are grateful to all our partners this year, including: Street Talk - providing individual trauma-informed counselling to women who have experienced trafficking or modern slavery Protea Clinic ~partnership with law students at King's College, London, and solicitors at Hammersmith & Fulham Law Centre, and Sutovic & Hartigan to offer one-off immigration legal advice Gillespie Park Ecology Centre new partnership this year offering women the opportunity to grow flowers, herbs and food at a local community garden Courts Advocacy Service Launched in November 2023, our Courts project provides specialist advice and advocacy to migrant women appearing as defendants at Westminster Magistrates Court. Two part-time project workers provide women with information and support to understsnd and navigate the courts process, as well as conducting an initial needs assessment to identify and refer women to appropriate support, including Hibiscus, community or prison services. 6of32
Hibiscus TRUSTEES, REPORT Safe Housing for Women project Funded by the Oak Foundation, this project aims to address the lack of safe and suitable accommodation for migrant women through a combination of specialist housing advocacy, working with housing providers to improve practice, and influencing positive changes to policy to increase housing options for migrant women. In all these areas we will work to empowerwomen with lived experience of insecure housing or homelessne55 to partner in creating change. A notable achievement in the first year of the project was successfully campaigning with other partners to reverse the Home Office 7-day move on policy for asylum seekers when granted refugee status. Introduced in August 2023, the policy was dropped by the government in December 2023. Criminal Justice and Detention Services WrapAround Service Our WrapAround Service provides holistic, wraparound support to migrant women in contact with the criminal justice system across all London boroughs. The service is jointly funded by the Ministry of Justice and Mayor's Office on Policing and Crime (MOPAC), in partnership with Advance Charity, Women in Prison and Pecan. Women may be referred by probation, on release from prison, or can self-refer, and receive up to 12 months intensive support from one of our Wraparound Project Workers before being closed, or referred on to our community team if they need further ongoing support. Due to a series of staffing challenges, the service operated at reduced capacity for much of the past year. but despite this we were able to support 66 women in 2023-24. and the team is now back to full capacity. Specialist Advocacy and Advice Services to Women in Prisons We continue to work with migrant women in three prisons: HMP Bronzefield, HMP Peterborough and HMP Downview. During the year, Hibiscus recruited two new members of stsff to the team, including a specialist Through-the-Gate project worker. We continue to Vislt each prison weekly to provide individual advice, advocacy and emotional sUPPOrt to migrant women. as well as delivering workshops or group activities for events such as Eid, Refugee Week and Black History Month. We also operate a phone helpline service I day/week for women from HMP Peterborough to contact us for additional support between visits. and since January have expanded this to cover all 3 prisons. Over the last year we have supported 157 women in prison, providing 348 face-to-face appointments, 92 telephone appointments, and reaching 121 women through our activity programme. Specialist Welfare Support to Women in Detention Our work in the immigration removal centres (IRC'S) this year continued to provide specialist welfare support in Yarl's Wood IRC. whilst navigating some significant changes to the projects at Heathrow and Derwentside IRC 's, and Gatwick PDA. The women's specialist services project at Derwentside IRC ended in August, and our projects delivered in Sahara Unit at Heathrow were impacted by the closure of the unit in November, and Gatwick PDA was closed in January for refurbishment. Our contract with the Home Office ended during the financial year resulting in the discontinuation of international resettlement work across all locations. Our focus was on implementing a smooth exit strategy, including supporting residents to establish connections with local partners to bridge service gaps and arrange alternative support. We are conscious of the needs of women detained in IRCS and have begun exploring new ways to provide advocacy and advice and have since been developing this at Yarl's Wood. 7of32
Hibiscus TRUSTEES, REPORT Over 1,200 people in IRC'S have been supported in the last year. We observed increases in the number of Albanian, Brazilian and Romanian nationals across all Cent5, as well as rising numbers of people from Timor-Leste. Despite the changes and the evolving landscape of the immigration estate, the team continued to provide essential services to those detained, striving to address their complex needs effectively. Between October and December staff carried out preparatory work for five families expected to arrive at Gatwick PDA and were on-site to offer specialist welfare support to the three that did. Gatwick PDA closed in January for reconfiguration of the space and it will be closed until early 2025. Hibiscus, interaction and model of support within IRCS is short term, and we are developing our impact and outcomes assessment to be adaptable to this. We regularly receive qualitative feedback from those we have supported which gives an indication of the impact of this work: 'A great help you were to me in how you handled my situation. It was certainly a shining light in an unfortunate and dark time.. °First of oll I would like to thank you for understanding my situation and my story. Your work is incredible." °Thank you Hibiscus for your support.... .1 am able to support my children, they were happy to see me. I Thank you again for talking to me in Yarl s Wood because I was stress. Everyday I see you, I smile." "Thank You So Much for your help Madam during the tuff time i am so glad for your help you Supported me alot when i am feeling low" We delivered 80 themed workshops and focus groups across the IRC'S this year. Themed workshops included International Refugee Week, Black History Month, Easter, Eid and Lunar New Year. Attendance was high, with the workshops providing a space to come together and connect on different topics, share stories, support each other, as well as to enjoy the refShMentS and get involved in activities. Policy and Public Affairs Our Policy and Public Affairs team works to influence policy change to improve the access to rights of Black and minoritised migrant women in contact with the criminal justice and immigration systems. Hibiscus seeks to influence policy change from the frontline by putting at the forefront our service users, expertise in a meaningful way. We advocate for change by engaging in different policy processes involving research, and engagement with key decision makers and stskeholders. Working in partnership with organisations in the third sector and service users we seek to improve the policy and practices affecting Black and minoritised migrant women, both highlighting issues in the UK and internationally. Our work focuses on the following issues.. Reducing homelessness and poverty amongst Black and minoritised migrant women Better recognition and care for survivors of trafficking Addressing racial inequalities in the criminal justice and immigration systems Reducing imprisonment and detention of migrant women, including advocating for community-based alternatives to incarceration, so it is no longer an option. Ending the discrimination that Black and minoritised migrant victim/survivors of violence against women and girls experience when seeking support and justice. 8of32
Hibiscus TRUSTEES, REPORT Our three main objectives in this area are: We will build the confidence and communication skills of migrant women to enable them to influence policy making and raise awareness about the issues impacting their lives. We do this centring their expertise rather than having to re~tell traumatic events of their lives. We will increase the visibility of Hibiscus as a leading organisation working to provide services to Black and minoritised migrant women. We will grow our communication platForms and create more opportunities to reach diverse audiences and share messages and policy recommendations developed in collaboration with women with lived experience. An altemative approach to 'Cultural Mediation, This year, supported by the Bell Foundation, we conducted research to understsnd approaches to cultural mediation in Europe. The findings concluded that cultural mediation approaches are mainly used a5 interpreting interventions and are inconsistent in how they are applied. These prattices therefore are neither designed to address structural barriers and inequalities nor offer comprehensive support to Black and minoritised and migrant women who are subjected to violence against women and girls (VAWG) (including trafficking, modern slavery and sexual violence). The evidence showed that the limitations of cultural mediation practice could cause harm to women who require specialist support from appropriate trauma- informed spaces. An alternative approach already exists in women's specialist by and for organisations in the UK, called the wrap-around, traurna-informed, woman-centred and rights-based support developed around intersectionality to meet the needs of women subjected to all forms of violence. This model, implemented within Hibiscus, is characterised by the provision of services free of judgement 3nd harm, including the prevention of repeat and Secondary victimisation and re-traumatisation. This model, promotes social, racial, and genderjustice, critical to creating support provisions that can address systemic harm. In this context, engagement with women is holistic and through intersectional lenses. Violence Against Women and Girls {VAWG) work Violence Against Women and Girls is a pervasive and prevalent issue in society. For Black and minoritised migrant women, the experiences of VAWG are often coupled with experiences of institutional and structural violence and exclusion from sUPPOrt. For our service users, disbelief and criminalisation are directly linked to intersectional and systemic racism worsened by hostile and punitive immigration policies. Furthermore, we have identified that the experiences and needs of Black and minoritised migrant women in contsct with the criminal justice and immigration systems are often overlooked in mainstream debates. In this context we have actively increased our presence within the VAWG sector. At an international level, in March 2024 we attended the 140th Session of the Human Rights Committee to review the UK government's international commitments in Geneva. We presented evidence before the Human Rights Committee on the harmful impact of hostile environment policies on the women we support. This experience allowed us to meet with key stakeholders including the Special Rapporteur on VAWG. Anti-Trafficking work We continue to expand our influencing work in anti-trafficking. This area is key as a considerable number of our service users are victims/survivors of this crime. The Anti-Trafficking Steering Group (ATSG) continues to meet and is dedicated to enhancing Hibi5cus' approach towards anti-trafficking. Funded by Trust for London, the group works towards the following lines of action: providing a specialised service" professional 9of32
Hibiscus TRUSTEES, REPORT partnerships. enhance knowledge" advocate for change and centring women's voices. The ATSG consolidates shad learnings on trends and institutional failures to protect victims/survivors of trafficking and modern slavery. This helps to inform our responses to government consultations, such as the MOJ Civil Legal Aid consultation. In addition, we have invested efforts in increasing our presence within the Anti-Trafficking sector to amplify the voice of the Black and minoritised migrant women that we support. Working to end the intersectional discrimination in the CJS Black and minoritised and migrant women are subjected to intersectional discrimination and racism when navigating the CJS. Ourwork on advocating for change has been funded by Barrow CadburyTrust and Lloyds Bank Foundation, previously under the banner of Double Disadvanta8e. Over this period, alongside our partners we continued engaging with key stakeholders and government representatives. Together with the Centre forWomen'sJustice, we have actively engaged with representatives of the Crown Prosecution Service and the National Police Chiefs Council, highlighting the lack of support for Black and minoritised migrant women, including those who a victims/survivors of VAWG. Our partnership work alongside Muslim Women in Prison, Zahed Mubarek Trust, Criminal Justice Alliance, Agenda Alliance and Women in Prison, has undertaken a strategic review and consultation, adopting the new name Women'sjustice Reimagined.. campaigning for intersectionaljustice for her. Women with lived-experience were included in this process to ensure their representation and expertise was considered. Heritage Project Our project to celebrate our 35-year history, funded by the Heritage Lottery Fund, concluded this year. We recorded eight oral history interviews, which will be submitted to the Black Cultural Archives and made accessible to the public. The oral history sound clips can be found here: The Herita e Pro ect Worksho Hibiscus Initiatives . We also ran eight workshops with over 10 wornen volunteers to develop their storytelling skills, which we took to six other Women's Centres in London and nationally. IOof32
Hibiscus TRUSTEES, REPORT Financial Review The Trustees considerthat the main risk the charityfaces is not being able to raise sufficient funds to continue providing its core services. To mitigate this, the fundraising programme is continually reviewed and the Trustees are very aware of the necessity to ensure that the charity has sufficient reserves. The Trustees have also examined other operational and business risks faced by the charity and can confirm that suitable measures have been taken, wherever possible, to mitigate any significant risks. The Finance & Compliance Sub -committee review and update the risk register on a quarterly basis and report to the Board. Our funders are as listed in notes 2 and 3 to the accounts. Total income for the year rose by 8/, from £1,728,016 in 2022/2023 to £1,873,894 in 2023/2024. Donations increased by £31,225, largely due to a one-off contribution. Bank interest income also rose significantly from £1,934 last year to £12,084 this year. Income from grants and contracts for our work increased by £104,503. In line with rising income, expenditure also grew, totalling £1,815,182 compared to previous year's expenditure of £1,603,654. The totsl funds held at 31st March 2024 were £918,946 of these £21.093 a restricted, £222,000 are designated, and general funds stand at £675,853 up from £603,083 in the previous year. The purpose of the restricted funds held is to further the work in the relevant service areas in accordance with the conditions of funding. See note 16. Trustees have reviewed and re-designated reserves to set aside funds to meet financial obligations to employees and others in the unlikely event of the charity ceasing to exist. Other funds are set aside to meet potential costs outside the annual budget. Our current level of general reserves maintains almost five months of operating costs based on 2023/24 expenditure. Expenditure levels are anticipated to fall in 2024/25 to c. £1,400,000, and reserve5 will be utilised for this eventuality as well. Designated funds at March 2024 were £222,000 increased from £203,385 to meet the projected increased costs of contractual obligations and wind-down costs. Ilof32
Hibiscus TRUSTEES, REPORT Our Strategy From 2023 - 2028 Hibiscus is focusing our work on our five-year strategy to ensure that we become a more impact-led, trauma informed, anti-racist and service user centred organisation. Theory of Change Forming from ourTheory of Change, our five-year strategy will focus on four key areas of work: Personal/Lived Experience: We will continue to work directly with Black and minoritised migrant women at every point in the criminal justice and immigration systems, to provide emotional and practical support and to enable them to influence change. +5 Practice We will work with institutions within the criminal justice and immigration systems as well as with stakeholders and other NGO partners, to help improve understanding, service provision and support to create fairer practices. By identifying victims of trafficking and influencing the treatment of marginalised women through advocacy. training, too15 and resource, we influence institutions and staff to understand the needs of migrant women and implement better, fairer practices. Policy We will work collaboratively with other organisations to campaign for policy change. Hibiscus will provide evidence and the voice of Black and minoritised migrant women themselves to influence policy and practice. By providing a platform for women with experience of the criminal justice and immigration system to influence policy and practice, policy and decision makers understand their experiences and implement fairer, more humane policies. Public opinion We will provide communication platForms for Black and minoritised migrant women with lived experience of the criminal justice and immigration systems to be heard in the media. We will work to ensure honest, accurate, representstive coverage in the media about the experiences of migrant women. 12of32
Hibiscus TRUSTEES, REPORT Structure, Governance and Management Hibiscus Initiatives is a company limited by guarantee without share capital incorporated on 12 September 2002 and registered with the Charity Commission on 2 June 2004 as a charity. Its governing rules are its Memorandum and Articles of Association. Prior to its incorporation the charity had operated since 1986 as an unincorporated charity under the name Female Prisoners Welfare Project. On incorporation it became FPWP Hibiscus Limited and changed its name to Hibiscus Initiatives Ltd by special resolution on the 9th September 2013 (later dropping the "Ltd" on 20 November 2014). The Articles of Association were reviewed and updated during 2014 and formally adopted in Ottober 2014. While day to day responsibility is delegated to the Chief Executive. Baljit Banga and her senior leadership team, overall responsibility rests with the Board. Strategic decisions and those relating to conditions of employment for the Chief Executive and senior leadership team are made by the Board and where appropriate with the assistance of external professional experts. The Chief Executive works closely with the Board and the senior leadership team. Senior staff each manage a team of skilled staff and send regular departmental reports on their projects, work to the Board. Hibiscu5' administrative structure and governance arrangements are a crucial part of the organisation, driving performance and keeping delivery on track. We worked to achieve the aims set out in the strategic plan and particular attention was paid to ensure staff training and support needs were met. The Board of Trustees and Directors of the Company Selection and appointment of trustees is govemed by the charity's Articles of Association. The organisation requires that all trustees have a clear understanding of the critninal justice system and the needs and issues surrounding women in prison, including migrant prisoners, those held in immigration removal centres in the UK, those released from both prisons and immigration removal centres , and issues surrounding trafficking and modern day slavery. The directors of the charitable company are its trustees for the purposes of charity law. The Trustees who have served during the year and since the year end were as follows: Therese Prince {Chair, appointed 20.05.241 Farzana Alam (Finance Lead, appointed 16.09.24) Rosalyn Akar Grams (Co-chair, from 30.05.23-20.05.24) + Annette Man Kwan So(Co-chair, from 30.05.23-27.11.23) Anne Noreen Langton (Co-chair, from 27.11.23-20.05.24) Michael Greenwood rfreasurer, resigned 30.09.24} Laila Aziz {appointed 05.02.241 Lara Fatah (appointed 16.09.24) Sara Khan Iresigned 05.02.24) Elanor Lee (appointed 16.09.241 Roselin Mgbezeh (professionally known as Roz Morrison) Louise Swan Klara Skrivankova Lutendo Wigman (appointed 16.09.241 Rachel Youngman (resigned 30.05.23) 13of32
Hibiscus TRUSTEES. REPORT New Trustees are inducted into Hibiscus and made aware of the full range of their responsibilities. New Trustees are partnered with a more experienced Trustee for support, guidance and advice. The training and induction programme enables Trustees to learn about Hibiscus in a structured way so that they are able, from the start, to understsnd and subscribe to the charity's objectives. This is supplemented by visits to places where Hibiscus works. including the women's centre. detention centre5 and prisons if they wish. Reports on Hibiscus, activities are presented at each Board meeling and this means that over time Trustees become familiar with the full range of work carried out by Hibiscus. Trustees attend Hibiscus events wherever possible and meet service users and key stskeholders. Key management salaries are set as part of the overall staff salary structure by the Chief Executive and approved by the Board through the annual budget approval process. The Chief Executive's salary is set by the Board. Salary levels are set with reference to the skillset and experience that stsff members need to have to carry out our charitable activities which is assessed annually. 14of32
Hibiscus TRUSTEES, REPORT Trustees, responsibilities statement The Trustees, who are also directors of Hibiscus for the purposes of Company Law, are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom GenerallyAccepted Accounting Practice). Company law requires the Trustees to prepare Financial Statements for each financial year. Under Company Law, the Trustees must not approve the financial ststement 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 the 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 then apply them consistently" observe the methods and principles in the Charities SORP 2019 {FRS 1021. make judgements and estimates that are reasonable and prudent., prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charitsble company will continue in operation. The Trustees are responsible for keeping adequate accounting records that 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. In so far as the Trustees are aware: there is no relevant audit information of which the charitsble company's auditor is unaware. and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Auditors The auditors, Kingston Burrowes Ltd, have expressed their willingness to continue in office and a resolution proposing their re-appointment will be put to the forthcoming Annual General Meeting. Approval This report was approved by the Trustees on 25 November 2024 and signed on their behalf, by: Therese Prince Chair Farzana Alam Trustee ~ Finance Lead 15of32
Hibiscus Independent Auditor's Report to the Members of Hibiscus Initiatives Opinion We have audited the financial statements of Hibiscus Initiatives (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial ststementS: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those stsndards are further described in the Auditor's responsibilities for the audit of the financial statements Section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the trustees report, other than the financial Statements and our auditor's report thereon. The trustees are responsible for the other information contained within the trustees report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 16of32
Hibiscus Independent Auditor's Report to the Members of Hibiscus Initiatives (cont.) If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters pScrIbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial ststements., and the directors, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matter5 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: o adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns. or o certain disclosures of directors, remuneration specified by law are not made. or o we have not received all the information and explanations we require for our audit. or o the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantsge of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic reporL Responsibilities of tmstees As explained more fully in the trustees, responsibilities ststement set out on page 11, the trustees (who are also the directors of the charitsble company for the purpose5 of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise 17of32
Hibiscus Independent Auditor's Report to the Members of Hibiscus Initiatives (cont.) from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below: Enquiry of management and those charged with governance about actual and potential litigation or claims and the identification of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to SUPPOrting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls, including testing journal entries and other adjustments for appropriateness. assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misststement due to fraud. Professional scepticism in course of the audit and with audit sampling in material audit areas. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment. forgery. collusion. omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.or .uk/auditor5res onsibilities. This description forms part of our auditor's report. Use of our report This report Is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted bylaw, we do not accept or assume responsibility to anyone other than the charitable company and the charitsble company's members as a body, for our audit work, for this report, or for the opinions we have formed. Kevin Fisher FCA (Senior Statutory Auditor) For and on behalf of Kingston Burrowes Audit Ltd ststutory Auditors 308 Ewell Road Surbiton KT6 7AL Dated I b I¥covber 1014 18of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) STATEMENT OF FINANCIAL ACTIVITIES Income and Expendlture Account for The Year Ended 31 March 2024 Unrestricted funds General Designated funds fund GBP (£) GBP (£1 Restricted funds GBP (£) Totsl 2024 GBP (£) Total 2023 GBP (£) Accounts Notes Income from: _ Donations and legacies 53,775 53.775 22,550 Charitable activities 826,765 981,270 1,808,035 1,703,532 Investment.. bank deposit account interests 12,084 12,084 1,934 Total 892,624 981,270 1,873,894 1.728,016 Expenditure on: Raising funds 21.287 21,287 11,416 Charitable activities 779,952 1.013.943 1,793,895 1,592,238 Total 801,239 1,013,943 1,815,182 1,603,654 Net income/ lexpenditure) 91,385 (32,673) 58,712 124,362 Transfer between funds 17 118,6151 18,615 Net movement in funds 72,770 18,615 (32,673) 58,712 124,362 Reconciliation of funds: Total funds brought forward 1611 603,083 203,385 53,766 860.234 735,872 Total funds carried forward 675,853 222,000 21,093 918,946 860,234 All income and expenditure is derived from continuing activities. There were no recognised gains or losses for 2023 and 2024 other than those included in the Statement of Financial Activities. The notes on pages 22 to 32 form part of these financial statements. 19of32
Hibiscus Charity Registration No. 01104094 Company Re8lStration No. 04533442 (England and Wales) Balance Sheetas at 31 March 2024 Accounts 2024 GBP {£} 2023 GBP 1£) GBP (£1 GBP {£) Current Assets: Debtors 12 251,055 348,066 Cash at bank and in hand 13 820,235 1,071,290 830,107 1,178,173 Llabilities: Creditors: amounts falling due within one year 14 152.344 317,939 Net current assets 918,946 860,234 Totsl Net Assets 19 918,946 860,234 The funds of the charity: Restricted income 16 21,093 53,766 General funds 17 675,853 603,083 Designated funds 18 222,000 203.385 Total unrestricted funds 897,853 806,468 Total charity funds 918,946 860,234 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The Financial Statements were approved by the Board on 25th November 2024 and signed on its behalf by: Therese Prince Farzana Alam Chair Trustee- Finance Lead The notes on pages 22 to 32 form part of these financial statements. 20of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) STATEMENT OF CASH FLOWS AS AT 31MARCH 2024 Note 2024 GBP (£) 2023 GBP (£) Cash flows from operating activities: Net cash provided by/lused in) operating activities 20 (21,956) 347,458 Cash flows from investing activities: Bank deposit account interests 12,084 1,934 Net cash provided by/{used in) investing activities 12,084 1,934 Change in cash in the reporting period (9,8721 349,392 Cash and cash equivalents at the beginning of the reporting period 830,107 480,715 Cash and cash equivalents at the end of the reporting perlod 820.235 830,107 The notes on pages 22 to 32 form part of these financial statements. 21of32
Hibiscus Charity Registration No. 01104094 Company Registradon No. 04533442 (England and Walesl I. ACCOUNTING POLICIES General information and basis of preparation Hibiscus Initiatives is a company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the 'Legal and Administrative Information, on page 3 of this Trustees, Report and Financial Statements. The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), The Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The Financial Statements are prepared on a going concern basis under the historical cost convention. The significant accounting policies applied in the preparation of these Financial Statements are set out below. These policies have been consistently applied to all years unless otherwise stated. Income recognition Items of income are recognised in the Financial Statements when all of the following criteria are met: the charity has entitlement to the funds. any performance conditions have been met or are fully within the control of the charity. there is sufficient certainty that the receipt of the income is considered probable. and., the amount can be measured reliably. Expenditure recognition Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and that the amount can be measured reliably. Expenditure is allocated to each activity where the costs relate directly to that activity. Support costs, including governance costs, that do not relate directly to any activity are apportioned to each activity on the basis of staff time. Expenditure is included under the following headings: raising funds which comprises the costs associated with attracting voluntary donations and grants charitable activities which comprises the costs associated with running the various activities, services and, projects for the charity's benef iciaries 22of32
Hibiscus Chèrity Registration No. 01104094 Company Re8jStratton No. 04533442 IEngland and Walesl I. ACCOUNTING POLICIES (continued) Fixed Assets and Depreciation Tangible fixed assets costing in excess of £1,000 are capitalised and stated at cost less accumulated depreciation. Fixed assets acquired for a specific project are expensed in the year of purchase. Depreciation is provided so as to write off the cost of fixed assets at the following annual rates.. Office equipment 25Yo reducing balance Computer equipment 25% straight line Fund accounting Unrestricted general funds are those funds which are freely available for use in furtherance of the objects of the charity. Designated funds are unrestricted funds set aside by the Trustees for particular purposes. Restricted funds are those funds which can only be used in accordance with the wishes of the donor, or which have been raised for 3 particular purpose. Leases Operating lease rentals are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease. Pension costs The charity operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the year to which they relate. Debtors and Creditors Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losse5 arising from impairment are recognised in the statement of Financial Activitie5. 23of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) 2 DONATIONSAND LEGACIES 2024 20231 GBP (£1 GBP (£1 Unrestricted donations 53,775 22,550 Totsl donations and legacies 53,775 22,550 3 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 GBP 1£) GBP Restricted grants: Barrow Cadbury Trust The Bell Foundation Esmee Fairbairn Foundation Esmee Fairbairn Foundation {Capacity Buildin81 The Forward Trust John Ellerman Foundation Justice Together Lloyds Bank Foundation MAN Charitable Trust Ministry of Justice Core Ministry of Justice Services Delivery (Courts) National Lottery Fund Heritage The National Lottery Community Fund Oak Foundation Advance and Women in Prison {Pan London) Paul Hamlyn Foundation The Clothworkers Trust for London Women's Centre- National Lottery 500 57,390 100,ocK) 7,795 54,657 23,333 49,999 15,921 50,000 103,713 60,858 35,370 49,131 109.648 71,040 40,883 10,000 14,750 126,281 25,000 42,734 100,000 26,925 50,000 4,000 50,000 14,296 35,369 7.252 67,583 40,600 26,869 113,976 Total restricted grants 981,270 604,603 24of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) 3 INCOME FROM CHARITABLE ACTIVITIES (continued) 2024 GBP (£1 2023 GBP (£1 Serco (PDAI- provision of dedicated welfare services Serco ISWSI provision of specialist welfare Services MITIE Care and Custody Home Office 77,799 61,220 33,533 593,117 220,582 57,120 85,194 678,271 Totsl unrestricted contract income receivable 765,669 1,041,167 Other Unrestricted income 61,096 57,762 Total income from charitable activities 1,808,035 1,703,532 All the expenditures recognised in 2023 and 2024 were unrestricted. 4 NET INCOME / EXPENDITURE 2024 2023 GBP 1£) GBP 1£) Operating surplus is stated after charging". Auditor's fee 3,000 3,000 5 COST OF RAISING FUNDS 2024 GBP (£1 21,287 2023 GBP (£1 11,416 Direct Costs 21,287 Support costs Fundraising activities All the expenditure recognised in 2023 and 2024 was unrestricted and for sUPPOrt costs. 25of32
Hibiscus Charity Registratlon No. 01104094 Company Registration No. 04533442 (England and Walesl 6 COST OF CHARITABLE ACTIVITIES Support 2024 costs GBP 1£) 2023 GBP I£} costs Support and advocacy to migrants affected by the criminal justice and immigration systems £1,580,200 £213,695 £1.793.895 £1,592,238 Of the £1,592,238 expenditure recognised in 2023. £1,028,021 was charged to unrestricted funds and £575,633 was charged to restricted funds. 7 ANALYSIS OF DIRECT COSTS Raising Funds Charitable Activ 2024 GBP (£1 2023 GBP I£} Wages and salaries and subcontractor costs Stsff travel UK Stsff training and conferences Overseas resettlement and travel External consultancy COVID 19 support Recruitment Other direct costs 21,287 1,143.396 52,063 60,909 33,421 125.331 1.164,683 52,063 60.909 33,421 125.331 1,038,425 65,426 29,853 69,940 86,546 15 23,240 66,469 34,897 130,183 34,897 130,183 21,287 1,580,200 1,601,487 1,379,914 8 ANALYSIS OF SUPPORT COSTS Raisbng Charitable Funds Activi 2024 GBP £1 2023 GBP( Office cost Premises Costs Governance cost (note 91 105,134 105.229 3,332 105,134 105,229 3,332 119,924 100,661 3,155 213,695 213,695 223,740 26of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 IEn8land and Wales) 9 GOVERNANCE COSTS 2024 2023 | GBP £1 GBP 1£) 3,000 3,000 214 155 118 Audit fees AGMIAnnual review Trustee training/membership 3,332 3,155 10 TRUSTEE AND BOARD MEMBER EXPENSES During the year there were no payments made to Trustees in respect of expenses12023: £2501. 11 STAFF COSTS Totsl staff wages for the year excluding national insurance & pension were £958,896 (2023. £879,315). Total social security costs for the year were £88,902 (2023: £83.875). The average number of employees during the yearwa5 31 (2023: 29). The total employment benefits received by key management was £200,58212023: £227,792). There was no employee with emoluments excess of £60,00012023: none). No employee received monies by way of compensation fortermination of employment12023'. none). None of the Trustees or members of the Board received any emoluments during the year12023: £nill. The charity operates a defined contribution pension scheme. Contributions during the year were £34,009 {2023: £18,172). Under FRS 102, employee benefits include gross salary, benefits in kind, employer's national insurance and employer pension costs During the financial year, the charity engaged a subcontracted CEO to oversee strategic operations and management. The total payment for this subcontracted CEO amounted to £57,63212023: £46,334). This expenditure has been included under the "Staff Costs" category. The subcontracting arrangement was in line with the charity's governance and financial policies, ensuring efficient management and cost-effectiveness. 12 DEBTORS 2024 GBP (£1 7,755 209,998 12,914 20,388 251,055 2023 GBP 1£) 7,866 321,683 7,010 11,507 348.066 Other debtors Trade debtors Pre-payments Accrual income 27of32
Hibiscus Chartty Registration No. 01104094 Company Registration No. 04533442 (England and Wales) 13 CASH AT BANK 2024 GBP 1£) 122,024 683,735 14,476 820,235 20231 GBP I£} 525,204 289.485 15,418 830,107 Bank - current account Bank- deposit account Cash in hand 14 CREDITORS: AMOUNTS FALLING DUE WITHINONE YEAR 2024 GBP 1£) 26,410 7,400 118,534 2023 GBP (£1 38,597 11,831 267,511 Trade creditors Sundry creditors and accruals Deferred income 152.344 317,939 Deferred income analysi5 2024 g.GBP (£) 267,511 118,534 1267,511) 118,534 2023 GBP (£1 116,500 267,511 (116,5001 267,511 Deferred income brought forward Additions during the year Amount released to income Deferred income carried forward Deferred income of £118,53412023: £267,511) included above relating to grant income received during the year but relating to future accounting period, 15 OPERATING LEASE COMMITMENTS The followin8 funds have been set aside out of general Jnd5 by the Trustees: 2024 GBP {£) 2023 GBP (£1 Due within: One year One to five years 26,052 24,590 26,052 24,590 At 31 March 2024 the comp3ny had annual commitments of £26,05212023: £24,590) for rent of premises under non-cancellable operating leases which expire in July 2028 (notice period 6 months). 28of32
Hibiscus Charity Registration No. 011(14094 Company Re8lStration No. 04533442 (England and Wal) 16 RESTRICTED FUNDS The funds of the charity include restricted funds comprising the following unexpended balances of grants held on trusts to be applied to specific purposes: Transfer between funds Balance at 01-Apr-23 GBP £1 Balance at 31-Mar-24 At 31 March 2024 Income Expenditure GBP (£1 GBP GBP GBP 1£) Barrow Cadbury Trust The Bell Foundation E5mee Fairbairn Foundation Esmee Fairbairn Foundation Icapacityl The Forward Trust John Ellerman Foundation Justice Together Lloyds Bank Foundation MAN Charitable Trust 5,897 3,308 20,397 500 6,397 60,698 120,419 3,295 61,326 20,522 57,281 15,921 50,000 103,923 54,857 37,353 49,131 109,648 42,370 10,000 5.309 57,390 100,000 7,795 54,657 23,333 49,999 15,921 50,000 103,713 60,858 35,370 49,131 109,648 40,883 10,000 14,750 1221 4,500 6,669 2.811 7,282 Ministry of Justice Core Ministry of Justice Service (Courts) National Lottery Heritage Fund National Lottery Community Fund Oak Foundation Paul Hamlyn Foundation The Clothworkers Trust for London Advance Charity and Women in Prison National Lottery Community Fund- Women's Centre (2101 6,001 1,983 11.4871 9,441 71,040 70,981 59 8,230 126,282 134,512 53,766 981,270 1,013,943 21,093 Full details of the purposes of these funds are in the Trustees report under the Financial Review section. 29of32
Hibiscus Charity Registratfon No. 01104094 Company RegistraOn No. 04533442 (England and Wales) Transfer between funds Balance at 01-Apr-22 GBPI£I Balance at 31-Mar-23 At 31 March 2023 Income Expenditure GBP £1 GBP 1£) GBP GBP Barrow Cadbury Trust The Bell Foundation 12891 8.705 736 25,000 42,734 loo,000 26,925 50,000 4,000 50.000 14,296 35,369 7,252 40,600 26,868 18,814 48.132 80,339 20,256 48,836 4,000 49.980 14,296 33,386 7,252 40,142 27,881 5,897 3,308 20.397 6,669 7,282 Esmee Fairbairn Foundation The Forward Trust Justice Together Lloyds Bank Foundation MAN Charit2ble Trust 6,118 1201 Ministry of Justice Core National Lottery Heritage Fund Oak Foundation 1,983 Paul Hamlyn Foundation Trust for London Advance Charity and Women in Prison National Lottery Community Fund- Women's Centre 14581 1,013 8,990 67.583 76.573 113,976 105.746 8,230 24,795 604,603 575,632 53,766 17 UNRESTRICTED FUNDS As at 315t March 2024: Balance at 01-Apr-23 GBP 1£) l Transfer between funds Balance at 31-Mar-24 Income Expenditure GBP (£1 GBP (£1 GBP (£1 GBP (£1 Gener31 funds Designated funds Unrestricted funds 603,083 203,385 806,468 892,624 801.239 (18.6151 18,615 675,853 222,000 897,853 892,624 801,239 As at 31st March 2023.. Balance at 01-Apr-22 GBP Transfer between funds Balance at 31-Mar-23 Income Expenditure GBPI GBP GBP 1£ GBP 1£) General funds 507,692 203.385 711,077 1,163,590 1,068,199 603.083 203,385 806,468 Designated f unds Unrestricted funds 1,163,590 1,068,199 30of32
Hibiscus Charity Reg55tration No. 01104094 Company Regigtration No. 04533442 (England and Wales) 18 DESIGNATED FUNDS The following funds have been set aside out of general funds by the Trustees: 2024 GBP (£1 177,000 45,000 222,000 2023 GBP I£} 188,385 15,000 203,385 Contractual obligations and wind-down costs Exceptional costs During the year, the trustees designated an additional £18,615 to these funds to ensure the financial sustainability of the charity. 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS As at 31st March 2024: Unrestricted funds GBP (£1 1,050,197 (152,3441 897.853 Restricted funds GBP 1£ 21,093 Totsl GBP 1£) 1,071,290 (152,3441 918,946 Current 35sets Current liabilities As at 31 March 2024 21,093 As at 31st March 2023: Unrestrlcted funds GBP I£} 1,124,407 1317,9391 806,468 Restrlcted fvnds GBP 1£) 53.766 Totsl GBP [£1 1.178,173 {317,9391 860,234 Current assets Current liabilities A5 at 31 March 2023 53.766 31of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) 20 NOTES TO THE STATEMENT OF CASH FLOWS 2024 GBP (£) 2023 GBP (£) Reconciliation net income/(expenditure)to net cash flow from operating activities Net income/(expenditurel for the reporting period (as per statement of financial activity) Adjustments for: Bank deposit account interest Ilncreasel/decrease in debtors IDecrease)/increase in creditors 58,711 124.361 112,084) 97.011 1165,5951 (1,9241 119,672 105,359 Net cash provided by/lused in) operating activities 121,956} 347,458 21 CONTINGENT ASSETS Total grant funding awarded as at 31 March 2024 but notyet received and recognised as income due to the recognition criteria not being met amounts to £1,014,842 32of32