Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
Company Number 3548669 Charity Number 1104413
INSPIRE HOUNSLOW
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST MARCH 2024
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
(A company limited by Guarantee)
CONTENTS
| ______________ | ______________ |
|---|---|
| Mission Statement | 2 |
| Legal and Administrative Information | 3 |
| Chairman's Statement | 4 |
| Trustees' Annual Report | 5-18 |
| Independent Examiner's report | 19 |
| Statement of Financial Activities | 20 |
| Balance Sheet | 21 |
| Accounting Policies | 22 |
| Notes to the Financial Statements | 23-26 |
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee)
MISSION STATEMENT
Vision and Values
Our Vision is to inspire disadvantaged young people in Hounslow to succeed and live a fulfilling future contributing to a flourishing, inclusive and sustainable community and society.
Our Values are fundamental to how we work every day with clients, colleagues, volunteers, supporters and partners. They describe the sort of people we are, how we conduct ourselves, and the experience people can expect when they come into contact with Inspire Hounslow. They are integral to what we do and how we do it, and we look for them in everyone we work with. Our values show that helping people to help themselves is at the heart of everything we do.
Four core values underlie and drive everything we do:
RESPECT
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Trust is important and all our communications and actions are transparent
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We are an action oriented and community focussed organisation intending to get things done
INSPIRE
- We are passionate about what we do and demonstrate enthusiasm and tenacity when dealing with challenges
PRAGMATISM
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We are realistic about what can be achieved and ensure our work is targeted at needs and improving outcomes
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We are able to demonstrate the progress made and outcomes delivered
OPENNESS
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We are an inclusive and approachable organisation that is for the benefit of all members of the community and especially those facing discrimination and/or disadvantage
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Collaboration and community involvement with integrity are part of all we seek to do
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee)
LEGAL AND ADMINISTRATIVE INFORMATION
Charity Name Inspire Hounslow
Company Number 3548689
Date of Incorporation 14 April 1998
Charity Number 1104412
Date of Registration 17 June 2004
Company Secretary Jacquie Foster (appointed 7 February 2023)
Registered Office South Street House, 51 South Street, Isleworth TW7 7AA
Directors/Trustees Gillian Chapman
Jacquie Foster
Ceylin Kolsal
Linda Learney (Vice Chair)
Edward Locke (resigned 30 June 2023)
Allen Powley (resigned 23 June 2023)
Charles Rees
Howard Simmons (Chair from 22 April 2023)
Heather Smith
Vipan Bij (appointed December 2023, resigned 8 October 2024)
Rachit Sharma (appointed December 2023)
Independent Examiner Paul Alexander FCA, Accountancy Management Services Limited,
South Street House, Isleworth TW7 7AA
Investment Managers Atomos Wealth and Finance Managers, 5 Hatfields, London SE1 9PG Bankers Lloyds Bank Plc, Chiswick London W4
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee)
CHAIRMAN’S INTRODUCTORY STATEMENT for the year ended 31 March 2024
The year 2023/24 has been one of consolidation and development for Inspire Hounslow. While two experienced Trustees have stood down during the course of the year after making significant contributions two new Trustees have been recruited bringing different skills, experience and perspectives. A newly appointed Chair has been welcomed by the Board and a sense of energy and purpose has replaced the uncertainties of the previous year.
When Allen Powley, a senior manager with Glaxo Smith Kline, stood down having done much to establish an effective Audit Committee, his role was taken on by Charles Rees who has significant legal and governance experience. And while Edward Locke stood down after many years contribution in building Inspire Hounslow as an effective organisation his legacy has been taken forward by Linda Learney in the role of Vice Chair and Jacquie Foster as Company Secretary.
The Board determined to recognise the major contribution made by Edward through awarding him the honorific position of President of Inspire Hounslow by which means his knowledge and skills may still be drawn upon by the Charity in this non-executive role.
We continue to seek new Trustees to reflect the rich cultural diversity and community experience within the Borough of Hounslow and the Recruitment Group has worked hard and effectively to recruit new Trustees and paid staff during the year.
Both Vipan Bij and Rachit Sharma joined the Board at the end of 2023 bringing with them significant business and financial experience alongside organisational development and mentoring of start-ups and new community bodies.
Alongside these changes Sallie Crook, the long serving Operations Manager who has played a vital role in the development of Inspire Hounslow to date as the paid staff member retired and received the profuse thanks of the Board. The Recruitment Group was successful in attracting a number of talented applicants from whom the Board has been pleased to welcome Gillian de Soyres to the modified paid role of Administrator and Grant Development Manager as from December 2023.
I offer my personal thanks to all Board Members ¬ and to Becky O’Flynn our External Accountant who has ensured that all financial reporting and due diligence in grant making is carried out efficiently and effectively ¬ for a successful and inspiring year. I also offer thanks to our partner organisations and the funded groups with whom we have worked over this last year. A summary of the activities and achievements of Inspire Hounslow is set out in the following report.
My Howard Simmons S
Chair of the Board
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INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
TAKING STOCK, MAKING CONTACTS, BUILDING NETWORKS AND PARTNERSHIPS, AND DELIVERNG OUTCOMES
1. TAKING STOCK
The Board has during the year reviewed the Charity’s purpose and objectives and reconfirmed the Vision, Values and Mission statements which set the operating context.
While the Memorandum and Articles of Association provide a wide remit to address community needs across the London Borough of Hounslow the Board has determined to continue focussing on the needs of young people from all communities and especially those facing discrimination or disadvantage.
We seek to build opportunities for young people who “reside, work or study in the London Borough of Hounslow” by investing in community based projects and programmes that develop skills and confidence and promote equality alongside community capacity and resilience. Alongside this we will continue to support events and activities that build community cohesion and celebrate diversity across Hounslow such as the Polish Festival, Canal Festival, and the Creative Mile Arts Trail.
Trustees undertook a review of the Grants Strategy this year and agreed to continue with revised rolling programmes of considering Small Grants up to £1,500 and Large Grants from £1,500 to £30,000 in total at Board meetings l throughout the year. Publicity about the programme has been revised with more attractive and accessible material developed and greater use of on line and social media sources being developed.
The Charity has continued to invest through its programmes of small and medium to large grants in projects and activities that benefit clearly identified partners, communities of interest and place and clearly focussed beneficiaries and therefore can demonstrate impacts and outcomes and the value of its operations.
This is important in showing the value of Inspire Hounslow, demonstrating its compliance with the Charity Commission’s guidance and requirements on the operation for public benefit and developing the opportunities for building partnerships with other funding bodies and investors to consider larger scale projects.
It is also important in enabling the Board to compile and regularly review the Register of Risks to which the Charity is through its operations regularly exposed and determine appropriate and mitigating actions and plans.
2. MAKING CONTACTS
During the course of the year the Board has renewed its programme of engagement with key partners and agencies across Hounslow so that there is a better understanding of the purpose and mission of Inspire Hounslow.
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INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
Meetings have been held with the Grants and Community Development Teams within Hounslow Council to explain the approach and Grants Strategy being pursued by Inspire Hounslow and to
discuss the opportunities for collaborative funding and improved coordination. This has led to better communication and the referral of several organisations seeking funding to Inspire Hounslow.
Meetings and discussions have also been held with the Ealing and Hounslow Council for Voluntary Service (E&HCVS) and Trustees have attended a number of their working groups considering aspects of how best to support and grow the activities and reach of the Community and Voluntary Sectors in the Borough.
Equally meetings have been held with leading Councillors in Hounslow including the Leader and Chairs of the 7 Area Fora that focus on groups of Wards covering geographic areas of the Borough to encourage greater community engagement on the one hand and better service planning, coordination and delivery on the other between statutory and voluntary agencies.
Trustees have as a result started to attend the Area Fora and contribute to these as they provide a useful way to make contact with local organisations and agencies, find out about local needs and issues, make contact with local Councillors and promote knowledge and understanding about Inspire Hounslow.
3. BUILDING NETWORKS AND PARTNERSHIPS
Through the process of taking stock and making contacts Trustees have recognised the opportunities to extend the reach and effectiveness of Inspire Hounslow by developing networks and where possible partnerships with other key funding agencies and organisations.
In October 2023 Inspire Hounslow was invited by the Council to attend the Hounslow Funders Fair held at Hounslow House and to contribute as a key note speaker as well as to have a stand to promote the Charity. Three Trustees attended what was a very well attended event with over 100 community organisations present.
Promotional material for Inspire Hounslow was produced for the event with pop up banners and leaflets while the speaker session gave the opportunity to set out the Grant Strategy for the Charity with its sharpened focus on those geographical communities facing the greatest levels of deprivation and disadvantage - Bedfont, Feltham, Heston and Cranford – as priority area for investment and Grant aid support. See Figure 1 on following page.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
Figure 1: Inspire Hounslow priority geographical communities.
At this time Inspire Hounslow was also invited to join the Hounslow Borough Funders Forum convened by London Funders which meets quarterly and involves over 15 funding bodies seeking to invest in communities in Hounslow. These include the Heritage and other Lottery Funds, City Bridge Foundation, Lloyds Bank, Heathrow Community Trust, Several City Livery Companies, Sports Council, Arts Council, Freshwater Foundation. Inspire Hounslow has now attended several meetings of this body and is developing contacts and links as well as discussing possible joint approaches to supporting the Community and Voluntary sector in Hounslow.
- ACHIEVEMENTS AND PERFORMANCE ¬ DELIVERING OUTCOMES
The main achievements of the Charity this year relate directly to the funding of a variety of projects and activities within the London Borough of Hounslow that aim to build opportunities, develop skills, tackle disadvantage and discrimination and build individual and community capacity and resilience. Considerable effort is made by Trustees in the grant assessing, giving and monitoring process to ensure that the funds invested have been utilised to benefit the identified individuals and groups and that the monies have been allocated wisely and spent correctly.
In the following section the grants awarded in the year 2023/24 are briefly reviewed.
PROJECTS AWARDED THIS YEAR (23/24)
FULL APPLICATIONS
N.B. The value shown represents the total for the project. It does not reflect the amount paid in this financial year.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
1. Springboard Destination Hospitality 2024 (£29,958)
This project involved disadvantaged NEET’s (aged 16-24) who live in Hounslow being trained and given work experience in various aspects of the hospitality business, in conjunction with Brentford
Football Club Community Sports Trust. This was followed by support and mentoring them to seek permanent employment.
The Springboard team were successful in supporting young people into employment. They commented, “We'd like to say a huge thank you to Inspire Hounslow for supporting us yet again for the second consecutive year, allowing us to run our Hospitality Futures programme which allows 13 individuals from the Hounslow area to begin successful careers in the hospitality, leisure and tourism industry.”
2. LBH Swimming Club Multivity (£28,378)
A project aimed at engaging young people in a range of physical activities to improve their skills and also their general physical and mental wellbeing. Individuals took part in various activities such as boxing, exercise to music, junior gym, roller skating, swimming and yoga.
3. Afghanistan and Central Asian Association (ACAA) (£25,170)
This project delivered accredited English classes, digital/IT skills training and careers advice for newly arrived young Afghan and Ukrainian refugees aged 16-25, living in Hounslow, to help them reach their full potential and overcome barriers to employment.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
ACAA said, “ We want to take this opportunity to thank Inspire for this generous funding to support Afghan and Ukrainian refugees in their progress toward learning English, IT skills and career preparation. We hope to have further opportunities for collaboration in the future. ”
4. HAY Youth Enterprise Project (£19,000)
The Youth Enterprise Project is ASDAN Accredited and led by award-winning entrepreneurs, education specialists, technology specialists, Senior Youth Workers, and volunteers. It is designed for 120 young people aged 14-21 and focuses on assisting young people with learning disabilities, mental health and behavioural issues, particularly those who are NEET.
5. Skylarks (£34,505)
Skylarks delivers activities for young people with additional needs, both online and at The Cross Way Centre, Twickenham. Skylarks aim to open a new centre of operations in Hounslow. This new project enabled them to deliver activities in Hounslow for the first time, as they have seen an increasing number of families from the borough accessing their services in Twickenham.
Activities are aimed at supporting young people with additional needs to grow, feel included, enjoy taking part in a supportive environment, most of life, thrive and grow in confidence. They also support their parents/carers with advice, advocacy, or just simply by providing a relaxing and welcoming place to bring their children and let them play without judgement. They offer events, activities, talks, workshops, clinics, and therapies.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
6. Purple Elephant (£23,490)
To fund therapeutic interventions, using play therapy techniques, for children within Hounslow schools, whose complex needs cannot be met by school resources or statutory services.
7. The School and Family works (£10,000)
To continue to provide structured multi-family group therapy to children from disadvantaged families, with additional mental health issues, and recruit new members to Family Groups in order to provide the optimum environment for the children to continue to progress, to begin a Graduate Program and run supportive parent/carer events.
8. Spark 2024 (£40,000) over 2 years
This project continues to provide inspirational, engaging, long-term, real working world experiences for key stage 4 learners, at Hounslow’s Woodbridge Park Education Service (WPES), in order that the young people have more relevant, meaningful post-16 progression routes, with sustained employment, education or training. It includes multiple engagements with the world of work and local employers, developing the students’ confidence and employability skills, and will be followed by a year-long, part-time internship with employers, focused on the students’ vocational sectors of interest
Total Large Grants awarded in the year £210,501
SMALL GRANTS APPLICATIONS
1. Brentford Canal Festival 2023 (£1,000)
Inspire Hounslow contributed to the costs of running the festival, specifically the provision of boat trips, a dance performance, and water sport activities.
2. Polish Klan Association (£1,000)
This grant contributed towards the infrastructure costs for the Community Day in Lampton Park.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
(A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
3. Springwest Academy (£1,500)
This grant contributed towards the costs of taking Year 10 and 11 pupils with physical disabilities on a adventure residential trip to Exmoor.
4. Sunshine of Hounslow (£1,500)
To fund the delivery of yoga sessions.
5. Creative Mile (£1,400)
This grant contributed to the costs of running a weekend event to celebrate the creative arts in Brentford.
6. Mulberry Centre (£1,500)
To contribute to the costs of running the Welcome Assessment and Information Support project at the Centre.
7. Creative Spaces London (£1,000)
To help expand the summer programme of activities for children. The funding allowed them to offer employment opportunities to local young people, working in partnership with C-Change West London / Heston West Big Local programme.
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INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
Creative Spaces Hounslow commented “Being supported by a local funder allows us to work efficiently and effectively with our community. Inspire Hounslow is a charity that knows the area and understands the challenges faced by local people. As a small CIC our resources are limited and having the grassroots support offered by Inspire Hounslow makes a huge difference to our staff, participants and organisation.”
8. Cycle Sisters (£1,500)
The project aims to improve health and wellbeing among less active Muslim women who live, work or study in Hounslow who are currently excluded from mainstream swimming provision and from acquiring an essential life skill.
9. KidWise (£1,000)
This project was to implement a pilot program aimed at providing Virtual Reality STEM (Science, Technology, Engineering, and Mathematics) sessions in local primary schools. These sessions were designed specifically for children identified by their schools as needing small group intervention, with a special focus on those suspected or diagnosed with neurodiversity.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
(A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
10. Brentford Canal Festival (£1,000)
Inspire Hounslow contributed to the costs of running the festival, specifically the provision of boat trips, a dance performance, and water sport activities.
11. Feltham Community Choir (£1,500) (Reach)
This project was to grow the presence of the choir by performing more widely through a Summer and Christmas concert alongside smaller outreach opportunities in care homes, sheltered accommodation and community centres. Also to promote the choir across Feltham, Hanworth and Bedfont using posters, leaflets and banners and a promotional video of the choir for social media.
12. Polish Klan (£1,500)
This grant contributed towards the infrastructure costs for the Community Day in Lampton Park.
Total Small Grants awarded: £15,400
Total Small and Large grants awarded for the financial year £225,901
(after grant written back relating to prior years, SOFA total is £221,276)
FUNDING STRATEGY AND CONSTITUTION
The constitution provides few restrictions on the awarding of grants and stipulates activity to being within the London Borough of Hounslow. Inspire Hounslow has decided that, as a matter of principle, it will distribute all its income to charitable causes, giving priority to assisting disadvantaged young people as it preferred ambition.
The board's policy is that further, if there was a convincing case, Inspire Hounslow would be willing to distribute both the investment interest and capital to compelling causes, either by way of grants or donations.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
INVESTMENT POLICY
The investment policy is set out in our documentation. Inspire Hounslow’s focus and policy related to CSR and ethical investing is laid out in the investment policy.
RESERVE POLICY
The reserves policy is clearly defined in Inspire Hounslow’s strategy and policy documents. The directors consider that the company's reserves are adequate for the foreseeable future.
FINANCIAL MANAGEMENT – BUSINESS PARTNERS
ATOMOS
The core funds continue to be professionally managed by Atomos. During the year Inspire Hounslow reviewed the portfolio with Atomos and will revisit the investment policy which was shared with Atomos in the coming period in light of a 3 yearly review. The investment strategy proceeds on a medium risk basis.
The performance of the portfolio is monitored regularly and reported to the Board each month.
At the end of the financial year, the total funds under management were £1,681,983.59.
MENZIES
The relationship with Menzies as the external accountants and independent examiner for Inspire Hounslow has been ongoing for several years. Meetings in the period took place and the relationship between Inspire Hounslow, Bright Bookkeeping Solutions and Menzies continued to up August 2024.
ACCOUNTANCY MANAGEMENT SERVICES LIMITED (AMS)
AMS were appointed in the year as the external accountants and independent examiner for Inspire Hounslow. Meetings in the period took place and the relationship between Inspire Hounslow, Bright Bookkeeping Solutions and AMS was established.
LLOYDS
On-line Banking is permitted via Lloyds (the primary account) and has worked well including an established audit trail and compatibility with the accounting software used to provide monthly reports to the board.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
BRIGHT BOOKKEEPING SOLUTIONS
Bookkeeping tasks and the continued process of Bright Bookkeeping Solutions reviewing the applications’ financial aspects of the applicant continue to provide supporting due diligence in providing tight financial controls.
AUDIT COMMITTEE
The Audit Committee, constituted to review decisions made by the Board and establish an overview and scrutiny process, continued under the chairmanship of Charles Rees.
RISK REGISTER
A formal risk register is reviewed by the Board on a regular basis. Trustees would make note that the risks are considered controllable and there are robust mechanisms established and in place. Project funding is controlled by a rigorous assessment policy. There is a significant control mechanism for the release of funds. The Audit Committee scrutinises the Co-chair and Trustee activity. Ultimately and most relevantly, the access to the funds is tightly controlled.
CONTRACTOR AND SUPPLIER REVIEW
The Board continues with the process of evaluation of third party/ contractor relationships and support structure to ensure sufficient personnel and resources to undertake the activities required and to achieve our vision and mission. The Audit Committee continue to monitor this and highlight areas of concern to the board.
FINANCIAL CONTROLS AND DISCIPLINES
The financial controls and parameters have been reviewed rigorously by the board and are more than adequate for the size and nature of the responsibility. Detailed policies for making payments, awarding grants and are embedded within the current operations model and work well to established good protocols and disciplines to safeguard.
FINANCIAL REVIEW
The principal source of funding of Inspire Hounslow was the original monies transferred from CIP when the charity was first established. Inspire Hounslow continues to be well funded as a result of this transfer of funds held within an investment portfolio.
The Investment Portfolio has produced an income of £40,117 which is a consistent average performance, given the market conditions over the period, the current level risk basis and portfolio holding structure. At the end of the financial year the total Inspire Hounslow funds under management were £1,681,983.
Detailed results appear on pages 25 of the accounts which accompany this report.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by guarantee) TRUSTEES’ ANNUAL REPORT for the year ended 31[st] March 2024
Inspire Hounslow saw a well-funded and controlled fiscal year and the combined grants awarded for the year was £225,901 (£221,276 after prior year grant written back) which was anticipated due to strategy and commitment changes throughout the year and resulted in a higher award than previous years but was in line with intentions of the board.
The results of this year's grant activities are set out on page 24.
The total overhead costs for the financial year were £43,721 which was an increase of 15% from the previous year. This was a result of service costs incurred to recruit and support a new chair. General overheads outside of these expenses continued to be maintained at the same level as the previous year which continues to demonstrate the tight financial controls in place and the board’s scrutiny of financial costs and relevance.
Income from interest and dividends were moderate and the fiscal year ends with an investment portfolio valuation of £1,681,983 at the end of March 2024 and received an income from Interest and Dividends of £40,117 from the fund which was 4% increase from the previous year. The investment markets were balanced throughout the year however Inspire Hounslow has seen a steady increase of funds and have been able to draw down from the portfolio when required. The financial year-end closed with FTSE Index higher than last year.
Inspire Hounslow's Investment Trust holdings showed a total increase in the year of 6.7% which includes realised and unrealised losses together with funds removed. The investment valuation at year end showed an unrealized gain of £137,652 to book value. The Investment portfolio continues to be strong and diverse. The balance sheet on page 21 shows that the company has net assets of £1,532,923 which leaves it still well placed to conduct its programme of charitable activities.
The charity is performing well in its grant giving activities but there is plenty scope to do more. The Board reviewed its policies and activities in 2024 and set out strategies to significantly improve focus, efficiency, and effectiveness. No dividends have been paid or are proposed in the financial year.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by Guarantee) TRUSTEES' ANNUAL REPORT for the year ended 31st March 2024
COMPANY/CHARITY STRUCTURE
The charity is a company limited by guarantee with no share capital. The company was formed in 1998 under the name of Hounslow Culture & Community Services to manage the leisure activities of Hounslow Council, and after the cessation of trading operations in 2008 changed its name to Inspire Hounslow.
Its governing document is its Memorandum & Articles of Association, which were refreshed on 11th July 2017 to bring them in line with current activities and aspirations.
The appropriate Governing documents, Memorandum and Articles of Association, constitution, rules, and documentation were fully reviewed and refreshed by March 2020. These activities were completed in association with and, under the guidance of, the IH company solicitors. As a result of this refresh, the Trustees believe that the Charity conforms to all necessary regulations, guidance and recommendations as set out by the Charity Commission.
MANAGEMENT – TRUSTEES’ RECRUITMENT AND INDUCTION
The charity is controlled by the board of trustees, who are also the directors for the purpose of company law.
All the trustees are members of the company and guarantee to contribute £1 in the event of a winding up; no Trustee has any beneficial interest in the company.
All trustees are unremunerated.
The Articles of Association require the company to be run by a Board of Trustees who are expected to take decisions collectively. The board when complete consists of at least three and not more than eleven people.
Trustees will each normally hold office for three years and be eligible for re-election twice. Additional board members are sought by public advertisement and by private approach.
New trustees have been recruited in accordance with the appropriate guidelines. There are clearly documented processes listed in the Inspire Hounslow recruitment protocol.
New trustees are initially interviewed by a Recruitment Group, and later by the full Board. Approved applicants are coopted for an initial term of six months, which is considered a probation period. At the end of the initial term the appointment is reappraised, and, if appropriate, the Trustee is reappointed as a full Trustee. There may be circumstances in which the initial term is extended for a further period of 3 to 6 months. Thereafter, such people are expected to serve for a three-year term and are eligible for re-election in due course.
All new trustees have undergone the appropriate checks and necessary reviews. These are completed by the admin manager and the company solicitor.
On appointment, Trustees are provided with a copy of the charity’s governing documents, the rules and an induction pack of policies and procedures, which are a guideline to its method of operation. They are also offered a mentor and formal training on the responsibilities of Charity Trustees, particularly on the requirements of the Charity Commission.
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by Guarantee) TRUSTEES' ANNUAL REPORT for the year ended 31st March 2024
Independent Examiner
Charity law requires that the accounts of registered charities should be certified by an Independent Examiner; Paul Alexander FCA of Accountancy Management Services Limited has been asked to fulfil this role for the company.
In so far as the trustees are aware at the time of approving this trustees' annual report,
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there is no relevant information, being information required by the independent examiner in connection with preparing their report, of which the examiner is unaware, and
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the trustees, having made enquiries of fellow directors and the independent examiner that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant information and to establish the examiner is aware of that information.
Trustees responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company, and the group, and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:-
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select suitable accounting policies and then apply them consistently
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observe the methods and principles of the charity SORP
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make judgements and estimates that are reasonable and prudent
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board
& signed on its behalf
Howard Simmons
11/26/2024 Date:
Chair
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Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT for the year ended 31st March 2024
Independent Examiner's report to the Trustees of Inspire Hounslow (the "Company")
I report to the Trustees on my examination of the accounts of the Company for the year ended 31st March 2024.
Responsibilities and basis of report
As the charity's Trustees of the Company (and its Directors for the purposes of Company Law) you are responsible for the preparation of accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under Section 145 of the Charities Act 2011 ("the 2011 Act") . In carrying out my examination, I have followed the Directions given by the Charity Commission under Section 145 (5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
i) accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act , or
ii) the accounts do not accord with those records
iii) the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination: or
iv) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
The report is made to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
11/26/2024
Paul Alexander FCA Independent Examiner Dated ……………. Accountancy Management Services Limited South Street House, 51 South Street Isleworth TW7 7AA
Page 19 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
(A company limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st March 2024
| Note INCOME FROM Incoming resources from generated funds Investment income 2 |
2023-24 2022-23 £ £ 40,117 38,398 |
|---|---|
| 40,117 38,398 |
|
| EXPENDITURE ON Charitable activities 4 Governance costs 3 Support costs 5 |
(221,276) (211,421) (17,857) (23,930) (25,864) (14,104) |
| (264,997) (249,455) |
|
| NET MOVEMENT OF FUNDS GAINS FROM INVESTMENTS Realised gains/(losses) from investments Unrealised gains/(losses) 6 |
(224,880) (211,057) 18,645 (43,420) 137,652 (43,570) |
| NET INCOME/(EXPENDITURE) FOR THE YEAR TOTAL FUNDS BROUGHT FORWARD |
(68,583) (298,047) 1,601,506 1,899,553 |
| TOTAL FUNDS CARRIED FORWARD | £1,532,923 £1,601,506 |
All recognised gains or losses are included in the statement of financial activities.
The notes on pages 22 to 26 form part of these financial statements.
Page 20 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
(A company limited by Guarantee) No 3548669 BALANCE SHEET as at 31st March 2024
| Note Fixed Assets Investments 6 Current assets Debtors 7 Cash at bank |
31/03/2024 31/03/2023 £ £ 1,681,983 1,670,814 479 391 47,670 5,908 |
|---|---|
| 8 one year Creditors: Amounts falling due within |
48,149 6,299 (197,209) (75,607) |
| Net current assets/(liabilities) | (149,060) (69,308) |
| £1,532,923 £1,601,506 |
|
| Represented by Capital and reserves Unrestricted funds 10 |
1,532,923 1,601,506 |
| £1,532,923 £1,601,506 |
For the year ending 31st March 2024, the Company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the Company to obtain an audit in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the directors and authorised for issue, and are signed on their behalf by
==> picture [80 x 42] intentionally omitted <==
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Howard Simmons
Chair
11/26/2024
Date:…................
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The notes on pages 22 to 26 form part of these financial statements
Page 21 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by Guarantee) eK inspire NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 ~~ne~~
1 Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation and uncertainty in the preparation of these financial statements are as follows:-
Basis of Preparation
These financial statements are prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(effective 1st January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Inspire Hounslow meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
It is the trustees' opinion that the going concern basis of preparation of the accounts continues to be appropriate.
Income
The charity presently has no trading activity, so all its income is derived from interest and dividends on its investments and bank interest.
Donated services and facilities
The charity has neither premises or employees which it has to fund.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Investments are measured at fair value through the Statement of Financial Activities.
Resources expended
Expenditure is accounted for on an accruals basis and has been categorised under the following headings: Charitable activities - funds disbursed in order to directly further the objects of the charity
Governance costs - incurred in connection with the compliance of the charity with constitutional and statutory requirements
Support costs - associated with the funding of grants and general management costs of the charity
Other
Both Incoming resources and resources expended are recognised on an accruals basis.
The accounts are presented in pounds sterling and figures are rounded to the nearest whole number.
Page 22 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
| INSPIRE HOUNSLOW | INSPIRE HOUNSLOW |
|---|---|
| INSPIRE HOUNSLOW (A company limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 (cont'd) 2023/24 2022/23 2 Incoming resources £ £ Investment income 40,117 38,398 Interest received 0 0 Sundry income 0 0 ~~ee~~ S<inspire |
|
| £40,117 | £38,398 |
| 2023/24 3 Governance costs £ Accountancy 6,107 Independent examination 2,220 Investment advisors' fees 9,530 |
2022/23 £ 8,935 3,960 11,035 |
| £17,857 | £23,930 |
Page 23 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
(A company limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 (cont'd)
| 4 Charitable activities Charitable grants Spring West ACAA Creative Spaces London Hay Skylarks Cycle Sisters Swimming Club Multivity KidWise Brentford Canal The Reach Foundation Feed Them All We are Stronger CHD Polish Klan Spark Springboard Sunshine of Hounslow Feltham Arts The Creative Mile St Michaels Chiswick Cultivate London The School & Family Works The Mullberry Centre Brentford Voice Purple Elephant Hounslow Art Trust HAAYA Eid Festival Ealing CVS LBHSC LVA PHAB Serving Superhero Natural Cycle Development Personal training awareness Grace & Poise HB Respiratory Group |
2023/24 2022/23 £ £ 1,500 - 25,170 - 1,000 - 19,000 - 34,505 - 1,500 - 28,378 - 1,000 - 1,000 - 1,500 - - 1,499 - 10,500 - 11,315 2,500 1,000 40,000 40,000 29,958 23,347 1,500 5,000 - 1,500 1,400 1,000 - 1,000 - 18,590 10,000 10,000 1,500 1,000 1,000 1,100 23,490 23,490 - 1,000 - 3,000 - 1,500 - 17,322 - 15,000 (4,625) 9,970 - 6,288 - 1,500 - 1,500 - 1,500 - 1,500 - 1,000 |
|---|---|
| £221,276 £211,421 |
Page 24 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW
| INSPIRE HOUNSLOW | INSPIRE HOUNSLOW | INSPIRE HOUNSLOW | INSPIRE HOUNSLOW |
|---|---|---|---|
| INSPIRE HOUNSLOW (A company limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 (cont'd) 2023/24 2022/23 5 Support costs £ £ Legal & professional 100 4,492 Consultancy 12,650 1,800 Meeting expenses 36 123 Insurance 534 524 Bank charges 15 60 Advertising and marketing 168 114 Admin support 9,094 4,950 Venue hire 822 326 IT software and subscriptions 1,183 1,571 Staff and trustee training 195 0 Sundry 1,067 144 ~~ae~~ S<inspire |
|||
| £25,864 | £14,104 | ||
| 6 Fixed asset investments Market value bf Additions Portfolio cash movement Disposals |
2023/24 £ 1,670,814 1,814,158 1,871 (1,942,512) |
2022/23 £ 1,834,183 309,738 (13,692) (415,845) |
|
| Revaluation (deficit)/surplus | 1,544,331 137,652 |
1,714,384 (43,570) |
|
| Market value cf | 1,681,983 | 1,670,814 | |
| Analysis of investments UK quoted investments Cash in portfolio Unlisted investment |
1,667,289 14,694 - |
1,657,991 12,823 - |
|
| £1,681,983 | £1,670,814 | ||
| 7 Debtors Prepaid expenses |
2023/24 £ 479 |
2022/23 £ 391 |
|
| £479 | £391 |
Page 25 of 26
Docusign Envelope ID: 313B2D74-0670-428B-9F4E-C789068128ED
INSPIRE HOUNSLOW (A company limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 (cont'd)
| 8 Creditors: Amounts falling due within one year Trade creditors and accruals Charitable grants payable |
2023/24 2022/23 £ £ 15,000 7,080 182,209 68,527 |
|---|---|
| £197,209 £75,607 |
9 Company status
The company is a private company registered in England, limited by guarantee. In the event of the company being wound up, each member is required to contribute an amount not exceeding £1. The registered office is South Street House, 51 South Street, Isleworth TW7 7AA.
| 10 Unrestricted funds Balance brought forward (Deficit)/Surplus for the year |
2023/24 2022/23 £ £ 1,601,506 1,899,553 (68,583) (298,047) |
|---|---|
| Balance carried forward | £1,532,923 £1,601,506 |
The deficit for the year is arrived at after Independent examiner's fees of £2,100 (2023: £3,300).
11 Related party transactions
There were no related party transactions during the year that required disclosure.
| 12 Staff Costs Wages and Salaries Social Security costs |
2023/24 2022/23 £ £ 9,094 4,950 - - |
|---|---|
| £9,094 £4,950 |
|
| Staff numbers | 1 1 |
There were no employees who received total employee benefits (excluding employer pension costs) of more than £60,000.
No Trustee/Director received any remuneration or other benefits from the charity.
No expenses were incurred by the Trustees/Directors.
Page 26 of 26